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Experion Developers to invest over Rs 2K cr in new Gurugram housing project
The company will develop 540 apartments in the upcoming luxury housing project 'The Trillion', which is located in Sector 48, Gurugram
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Reuters
24 minutes ago
- Reuters
Rupee's sticks to muted price action, implied volatility retreats
MUMBAI, June 11 (Reuters) - The Indian rupee ended slightly higher on Wednesday, sticking to rangebound price action for a third consecutive session on two-sided client flows and the absence of cues to firm a directional bias on the currency. The dollar-rupee pair's implied volatility, a gauge of future expectations, has receded on the back of muted moves in the currency. The 1-month gauge eased to about 4.4%, the lowest in over one month. On the day, the rupee closed at 85.51 against the U.S. dollar, up slightly from its close of 85.6025 in the previous session. Asian currencies were largely steady as well while the dollar index was hovering sideways around the 99-handle. Mild dollar sales from foreign banks helped the rupee tick higher in early trading but routine corporate dollar demand stood in the way of the local currency extending its rise, a trader at a state-run bank said. India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab, ended slightly in the green, tracking a rise in regional equities as markets gave a guarded welcome to the latest signs of progress in trade talks between the United States and China. "The dollar remains one of the best gauges of trade sentiment. While it has held up generally well early this week, it hasn't built on the late-week momentum following the US-China meeting announcement," ING Bank said in a note. Worries about the impact of wide-ranging U.S. tariffs have weighed on the dollar this year and left it nursing losses of more than 8.5% against major peers. The focus now turns to U.S. consumer price inflation data, due later on Wednesday, which is expected to show month-on-month core consumer prices rose 0.3% in May, according to a Reuters poll, slightly higher than the 0.2% rise in the previous month.
Yahoo
24 minutes ago
- Yahoo
May CPI: Inflation pressures ease on a monthly basis as tariff uncertainty lingers
May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis as investors closely watch for any signs that President Trump's tariffs are impacting what consumers pay. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 0.1% month over month, below April's 0.2% rise and a beat compared to economists' estimates of a 0.2% monthly gain in prices. Yearly CPI rose 2.4% in May, a slight uptick from April's 2.3% uptick, which marked the lowest yearly increase since February 2021. On a "core" basis, which excludes volatile food and energy costs, CPI rose 2.8% over the past year in May, matching April. Monthly core prices increased 0.1%, a touch below April's 0.2% gain. Heading into the report, economists had expected core CPI to rise 2.9% year over year and 0.3% month over month. Declines in car and apparel prices, categories expected to show some of the earliest impacts from tariffs, helped drive a cooler-than-expected core CPI reading last month. The report reflects the time period about a month after Trump's "Liberation Day" tariff announcements shook markets and businesses. Since then, many of those "reciprocal" tariffs have been paused, but the 10% baseline duties for most countries remain in place. Mexico and Canada continue to face fentanyl-related tariffs, and industry-specific tariffs on steel, aluminum, and autos remain unchanged. Tariffs on China are still significant even as a truce temporarily pauses big hikes, with the effective tariff rate on Chinese goods hovering around 30%. Early Wednesday, the US and China agreed to a framework and implementation plan aimed at easing tariff and trade tensions. President Trump signaled his approval, saying the deal was "done," pending final sign-off from him and Chinese President Xi Jinping. Core inflation has remained stubbornly elevated due to sticky costs for shelter and services like insurance and medical care. The shelter index rose 3.9% over the last year and 0.3% over the prior month in May. It was the primary factor in the all items monthly increase, according to the BLS. The index for rent and owners' equivalent rent (OER) rose 0.2% and 0.3%, respectively, over the prior month. Owners' equivalent rent is the hypothetical rent a homeowner would pay for the same property. Still, there were signs of easing within shelter. Lodging away from home, for instance, fell 0.1% in May. Outside of shelter, the downside surprise in core inflation was also aided by other categories, including a drop in airline fares, used cars and trucks, new vehicles, and apparel. Meanwhile, the energy index dropped 1% month over month after rising 0.7% in April. On a yearly basis, the energy index was down 3.5%, aided by falling gas prices, which dropped 12% year over year in May. Notably, food prices reversed last month's easing, with the index rising 0.3% last month after a 0.1% decline in April. Egg prices dropped 2.7% from April to May but still remain near historic highs. On a yearly basis, egg prices have climbed around 41.5%. Other indexes with notable increases over the last year include medical care (+2.5%), motor vehicle insurance (+7.0%), household furnishings and operations (+2.7%), and recreation (+1.8%). This is a breaking news report. Stay tuned for updates. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Sign in to access your portfolio
Daily Record
25 minutes ago
- Daily Record
Warning to UK households to 'stockpile tins of food' and six other items now
The country is facing an increased threat of 'grey zone attacks' and residents need to prepare for it Households should start stockpiling tins of food and other items as soon as possible in order to be prepared for attacks which could affect infrastructure, food supplies and energy. And a former defence minister has called on people to 'wake up and start preparing' now. Former MP, Tobias Ellwood, who chaired the Defence Select Committee from 2020 to 2023, said that the likelihood of a 'grey zone' attack is a one of the 'real world scenarios we must seriously consider'. He urged householders to be ready for all eventualities including power cuts, internet outages and drone attacks. Ellwood said that people need to start stockpiling non-perishable tins of food alongside drinking water, iodine tablets and radios. Writing in PoliticsHome he said: "What if your phone buzzed with a national emergency alert warning of a swarm drone attack en route to your city – where would you go? How would you respond? 'Britain is now facing a surge in grey-zone warfare – deniable, covert attacks aimed at weakening our economy, undermining our infrastructure, and sowing confusion and panic. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. "Russia 's so-called shadow fleet is already mapping the UK's undersea cable networks – those vital arteries that deliver our electricity, gas and data. Autonomous underwater vehicles are criss-crossing the seabed, gathering intelligence. 'This isn't speculation – Russia's ambassador to the UK recently acknowledged that sensors had been placed in British waters, after several devices washed ashore. The Royal Navy is responding, ramping up its ability to detect threats and developing its own unmanned underwater vehicles. But this fight doesn't begin and end with the military," reports The Express. He urged people to get themselves ready by having these seven key items to hand: • Clean water (at least 100 litres) • Non-perishable food (such as tinned food and food that can be eaten cold) • Candles and a working torch • A battery-powered radio • Iodine tablets in case of nuclear fallout • Cash • A basic first aid kit The UK's Prepare website urges households to have a set of emergency supplies at home, including batteries, power banks, radios, bottled water and tinned food. The UK Government advice says: 'Emergencies happen every day in the UK and across the world. They can be caused by severe weather or other natural hazards, by deliberate actions, or as a result of accidents or infrastructure failure. "They can be events that happen quickly and are over in a few hours, or they can develop and continue over the course of several days, months, or sometimes even longer. 'Put together an emergency kit of items at home. This could include: Non-perishable food that doesn't need cooking, such as ready-to-eat tinned meat, fruit or vegetables (and a tin opener). As with water, how much you need will vary based on your own circumstances. Don't forget food for pets.' It recommends that households slowly build up supplies over time, rather than rush out and grab the items in one go, adding: 'Rather than buying all the items at once, you could just add to your emergency kit when you are able and build it up over time."
