Author: Supriya Jena

  • Oil Prices Steady Amid Demand Worries and New Sanctions”

    Oil Prices Steady Amid Demand Worries and New Sanctions”

    Oil prices didn’T change much in early trading on Thursday. This was because people are worried about weak demand for oil and a surprising increase in gasoline and diesel supplies in the U.S. These concerns overshadowed worries about new European Union sanctions on Russian oil, which might decrease its supply.

    Brent crude oil, an important global energy benchmark, was down by 5 cents, sitting at $73.47 a barrel around 1:41 AM GMT. Meanwhile, U.S. West Texas Intermediate crude fell by 11 cents to $70.18. Both types of oil increased by over $1 each on Wednesday.

    OPEC, a group that controls much of the world’s oil, lowered its predictions for oil demand growth in 2025 for the fifth month in a row and by a significant amount. Investors are keen to see the upcoming International Energy Agency (IEA) report that will provide insights on the oil market for 2025, which will also reflect OPEC’s recent news, according to analysts from Niftystat.

    In the U.S., gasoline and diesel stocks rose more than expected last week. This was reported by the Energy Information Administration, showing that demand is weak, especially in China, the world’s largest oil importer. However, there’s hope that demand from China might increase. This week, Beijing announced plans to have a looser monetary policy in 2025, which could boost oil needs. Additionally, China’s crude oil imports saw their first yearly rise in seven months in November, jumping more than 14% compared to last year.

    The market is also watching for any hints about possible interest rate cuts by the U.S. Federal Reserve next week. Prices had increased on Wednesday after European ambassadors agreed on more sanctions against Russia due to its actions in Ukraine. The Kremlin responded by accusing the U.S. of aiming to make relations with Russia even harder. Treasury Secretary Janet Yellen stated that the U.S. is exploring more ways to lower Russia’s oil earnings, suggesting that lower global demand might create chances for new sanctions.

  • Gold Trends Upwards as Fed Expected to Cut Rates – Market Insights”

    Gold Trends Upwards as Fed Expected to Cut Rates – Market Insights”

    Gold prices went up for the fifth day in a row on Thursday, reaching their highest level in over two weeks. This increase is due to growing hopes that the Federal Reserve will lower interest rates when they meet next week. A recent U.S. report showed that inflation matches expectations, reinforcing these hopes.

    – The price of spot gold was around $2,719.79 per ounce, seeing a slight increase of about 0.1%. U.S. gold futures remained steady at $2,755.40 per ounce.
    – In November, U.S. consumer prices saw their biggest increase in seven months, but this is not expected to stop the Federal Reserve from cutting interest rates for the third time next week, especially as the job market slows down.
    – Traders believe there’s a 98.6% chance of a 25-basis-point cut during the Federal Reserve’s meeting on December 17-18.
    – Attention now turns to the U.S. Producer Price Index data coming out at 1330 GMT, which will give more clues about the Fed’s future plans.
    – The European Central Bank is also expected to cut interest rates soon and hint at more cuts in 2025, as inflation in the eurozone gets back to its target and the economy struggles.
    – Gold is often seen as a safe investment during tough economic times and does well when interest rates are low.
    – In other news, the United Nations General Assembly called for an immediate ceasefire between Israel and Hamas in the Gaza Strip and the release of all hostages.
    – Citi analysts believe that gold and silver prices could gradually rise over the next 3-12 months, with gold potentially reaching $3,000 per ounce and silver hitting $36 per ounce.
    – The SPDR Gold Trust, the largest gold-backed exchange-traded fund, reported a 0.30% increase in its holdings, climbing from 870.79 tonnes to 873.38 tonnes.
    – Spot silver also increased by 0.1% to $31.94 per ounce, platinum rose by 0.4% to $943.10, and palladium went up by 0.5% to $986.25.

    Key Events Coming Up (GMT):
    – 1315: EU ECB Refinancing Rate
    – 1315: EU ECB Deposit Rate
    – 1330: U.S. Initial Jobless Claims
    – 1330: U.S. PPI for Machine Manufacturing in November

  • New Suspects Emerge in Liam Payne’s Investigation After Tragic Death

    New Suspects Emerge in Liam Payne’s Investigation After Tragic Death

    Liam Payne, a famous singer, died on October 16 at the CasaSur Palermo Hotel in Buenos Aires. He tragically fell from his balcony, and now there’s an investigation happening. Recently, two new people have been named as suspects in this case.

    One of the new suspects is Gilda Agustina Martín, who is the operations manager at the hotel. The judge in charge of the case has asked to notify both of the new suspects about charges, but it’s not clear what those charges are yet.

    The investigation documents say, “We have enough reason to think these people were involved, and we need them to talk to us.” They are expected to appear in court on December 19.

    After Liam’s death, Grassi, his manager, called 911 for help. He told the operator that Liam was very drunk and seemed to be in danger because he was damaging his hotel room. Grassi said he was worried Liam might hurt himself because he was close to the balcony. The operator informed Grassi that the police were already on the way. Unfortunately, they found Liam’s body shortly after the call.

  • Zia Mody Advocates for More Youth and Women in Indian Boardrooms

    Zia Mody Advocates for More Youth and Women in Indian Boardrooms

    Zia Mody, a leading lawyer at AZB & Partners, wants to see more young people and women in company boardrooms making important decisions. At the ET CEO Roundtable 2024, she mentioned that board members are getting better at understanding risks and how to manage their reputation. Mody expressed her disappointment that there aren’t enough young faces or women in these key positions. She emphasized that, regardless of age, no one wants to be in the news for the wrong reasons.

    However, Mody is excited about the younger generation entering the business world. She believes they are passionate about India and ready to chase their dreams. She noted that investors are eager to support new ideas. Some young dreamers may fail, but others achieve great success.

    Talking about India’s economy, Mody said that investments in the country have grown over the past two years. Many companies are looking at India not just as an alternative to China, but as a place with its own unique opportunities. She pointed out that improving the perception of doing business in India is necessary. Processes need to be quicker, and regulations should be simplified instead of being overly controlled.

    On the subject of India’s legal system, she commented that while it may seem slow, it is not unpredictable. The problem lies in having too few judges for too many cases. Mody believes that we need more judges to handle the workload better. She trusts the Supreme Court to make fair decisions most of the time but acknowledges the delays caused by backlogs. Overall, she has confidence in India’s judiciary system.

  • Delhi Police Unravel Huge Loan Scam Using Facial Recognition Technology

    Delhi Police Unravel Huge Loan Scam Using Facial Recognition Technology

    In a recent crackdown, the Delhi Police used high-tech Facial Recognition Technology (FRS) to arrest three criminals who tricked a bank into giving them a huge loan of ₹75 lakh (7.5 million INR) using fake documents. Among those arrested was Pankaj Sachdeva, also known by the fake name Roshan Manchanda, who created fake property documents and IDs to get the loan.

    This case began back in 2019 when a woman named Harminder Kaur Anand from Bengaluru found out her property in northwest Delhi had been wrongly mortgaged. She bought this property in 2011, but when she visited it in 2018, she discovered loan notices on her property, which shocked her.

    The police learned that these criminals specifically targeted empty properties. They forged documents to pretend to own these properties and then applied for loans. Once they got the money, they moved it around to different accounts under fake names, making it hard for anyone to find out where the money went.

    After years of trying to catch them, the Delhi Police finally made progress by using FRS technology. They matched a photo from the loan application with their database and found out that the real name of the scammer was Pankaj Sachdeva, who lived in Tagore Garden. He had used fake IDs, including a PAN card and a voter ID, to support his lies.

    Once his identity was confirmed, the police raided Sachdeva’s home and arrested him. During questioning, he revealed that two other people, Suhail Chauhan and Nitin Verma, helped him with the loan process and took ₹18.4 lakh as payment for their role. Both accomplices were later arrested in Meerut and Faridabad.

  • Israel Advances in Syria: Dramatic Changes After Assad’s Overthrow”

    Israel Advances in Syria: Dramatic Changes After Assad’s Overthrow”

    On Tuesday, Israeli tanks moved about 24 kilometers away from Damascus, the capital of Syria. This action has caught everyone’s attention as Syria faces big changes. Israel launched airstrikes against Syrian army bases and took control of a buffer area in southern Syria. This happens after a group of rebel fighters quickly took down Syrian President Bashar al-Assad, shaking up politics in the region.

    Israeli soldiers have reached a place called Qatana, which is six miles inside Syria from a no-fly zone near the Golan Heights. Israel claims it wants to stop terrorism and keep its country safe, but countries like Egypt, Qatar, and Saudi Arabia are not happy with Israel’s actions. Israeli Defense Minister Israel Katz said that Israel aims to create a safe zone in southern Syria without weapons and threats, which would help secure its borders without being there all the time.

    Israeli airstrikes have destroyed much of Syria’s military equipment, including helicopters and jets. Over 200 air raids have left the Syrian military very weak, according to safety sources in the region.

    With President Assad out of power, a group of rebels is now leading Syria. The new Prime Minister Mohammed Jalali and Vice President Faisal Mekdad are working on handing power to a new group called the Salvation Government, led by the rebel coalition Hayat Tahrir al-Sham (HTS). HTS, which used to be linked to al-Qaeda, is now trying to guide Syria through this confusing time since there are no clear plans for the country’s future.

    This sudden change comes after a long civil war in Syria that caused many deaths and made millions leave their homes. Russia, which used to support Assad, hasn’t reacted to these new events yet.

    The United States has said it will talk to the Syrian rebel groups and countries like Turkey to help with the transition. Robert Wood, the Deputy U.S. Ambassador to the UN, stressed the importance of creating a government in Syria that respects the rights of its people.

  • SEBI Launches Survey to Boost Stock Market Participation and Awareness”

    SEBI Launches Survey to Boost Stock Market Participation and Awareness”

    Market regulator SEBI is planning to conduct a nationwide survey to find ways to encourage more people to invest in the stock market. During a recent event, a SEBI official, Ananth Narayan G, mentioned that the Indian stock market has been stable lately. He pointed out that while $14 billion left the country in investment during October and November, local investors, like those in mutual funds, put in the same amount back into the market.

    Narayan stressed that we shouldn’t get too comfortable just because more local investors are joining in; we still need foreign investors to help our economy grow. He shared concerns about the younger generation, many of whom haven’t experienced the ups and downs of investing. It’s important that they understand the risks involved. To help with this, SEBI is working with other organizations to boost investor awareness.

    SEBI is set to launch a nationwide survey aimed at learning how to attract more people to the stock market, make them mindful of risks, and identify areas that need improvement.

  • SpaceX’s $1.25 Billion Share Deal: What You Need to Know!”

    SpaceX’s $1.25 Billion Share Deal: What You Need to Know!”

    SpaceX, the company created by Elon Musk that builds rockets and satellites, has just agreed to buy up to $1.25 billion worth of shares from insiders. This deal sets the company’s value at around $350 billion, which is a big jump from just three months ago when the shares were valued at $112 each. In fact, the new price for each share is now $185!

    Musk shared on X that it’s surprising how few investors wanted to sell their shares, even at this high value. To make room for new investors, SpaceX decided to buy back fewer shares from current employees.

    With this new valuation, SpaceX remains the most valuable private startup in the world, worth more than some major public companies. This shows how well Musk’s businesses are doing since the recent U.S. elections. SpaceX has been a leader in launching rockets for NASA, the military, and other companies, and is building a large network of Starlink satellites to provide internet services.

    Musk’s wealth has also skyrocketed to about $384 billion, reflecting the strong interest from investors in his ventures. This buying and selling of shares allows people who own parts of SpaceX to make money while keeping the company private.

  • Afghan Refugee Minister Khalil Ur-Rahman Haqqani Killed in Kabul Blast”

    Afghan Refugee Minister Khalil Ur-Rahman Haqqani Killed in Kabul Blast”

    On Wednesday, there was a terrible explosion at the Afghan Ministry of Refugees in Kabul. Sadly, this explosion took the life of Khalil Ur-Rahman Haqqani, the Afghan minister for refugees, along with several of his coworkers. A government source, who asked to stay anonymous, confirmed the news, saying, “Unfortunately, the explosion happened at the Ministry of Refugees, and Minister Haqqani has been martyred along with some of his colleagues.” This shocking event has left many people in Afghanistan in mourning

  • New Smart System to Enhance Air Travel Experience in India”

    New Smart System to Enhance Air Travel Experience in India”

    On Wednesday, Civil Aviation Minister Ram Mohan Naidu announced that he wants to make flying easier for everyone. He was at the launch of a new system called the Airport Predictive Operation Centre (APOC) at Hyderabad’s Rajiv Gandhi International Airport. This smart system will help improve how airports work as air travel keeps increasing.

    Naidu said, “With more people flying, we need better airport management. This new system is a big step forward. It will help everything run smoother.” The system is also going to be used at Delhi Airport soon.

    GMR, the company that runs the airport, explained that APOC will combine all airport operations—like airside, landside, and terminal operations—into one easy-to-use system. It will use real-time data to make quick decisions, reduce interruptions, and keep things running smoothly.

    In a statement, GMR said, “APOC will allow us to respond quickly to problems, giving better efficiency, safety, and happy passengers.” Naidu added that this system will save money and improve safety while flying. “We aim to make flying easier, cheaper, and more convenient. This new system fits right in with that goal. We want an easy and friendly flying experience for everyone,” he said.

    Naidu emphasized that the system will help improve daily airport operations and could be copied at other airports. “It’s all about making air travel more accessible and user-friendly, and this new system supports that vision.”

    He believes airports should feel like a second home. “My plan is to create 50 more airports in the next five years,” Naidu said. SGK Kishore from GMR Airports mentioned that APOC will provide more accurate data during bad weather. It will also quickly spot problems with things like escalators or elevators, allowing the airport staff to fix them before passengers notice. The system will also help keep the airport safe by alerting staff to any unusual situations.