Saudi Coffee Company will provide support to the national coffee industry through the entire supply chain, from bean to cup
Business2 days ago
The Indian rupee strengthened by 21 paise to 74.43 against the US dollar (20.28 versus the UAE dirham) on Monday morning on the back gains in the Indian equity markets.
The Bombay Stock Exchange (BSE) Sensex was trading 258.91 points or 0.49 per cent higher at 52,645.10, while the broader NSE Nifty advanced 90.80 points or 0.58 per cent to 15,780.60.
"Flows from Zomato IPO should start hitting the market as dollar eases after the Reserve Bank of India strongly ensured that 74.80 is not breached on the upside," said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors.
Bhansali expects the rupee to trade between 74.30 to 74.70 against the greenback.
"Exporters to sell near to the higher end of 74.70, while importers to buy near the lower end for near-term imports," he said.
Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit. Global oil prices fell 0.21 per cent to $75.39 per barrel on Monday.
(With inputs from PTI)
Saudi Coffee Company will provide support to the national coffee industry through the entire supply chain, from bean to cup
Business2 days ago
EFG Hermes and Amazon entered into an option agreement whereby Amazon agreed to acquire $10 million in EFG Hermes GDRs with the option to replace that investment into valU at a future date.
Business3 days ago
The move comes days after the telecom company said it was looking to expand into new markets
Business3 days ago
In 2021 the economy crossed international economic expectations by registering the highest rate in the region of Dh1.489 trillion.
Business4 days ago
Inflows cross $3 billion in a month for the first time as overseas Pakistanis remit more money for Ramadan and Eid festivities
Business4 days ago
Consumers continue to be hurt by rising food, fuel prices
Business4 days ago
The company has secured Dh300 million credit line from A Class Banks.
Business5 days ago
Smart technology and bespoke interiors made the 5-bedroom garden home a rare option in the market
Business5 days ago