Low Financial News

Gold languished near one-week lows on Wednesday on strength in the dollar and Treasury yields, driven by expectations for U.S. interest rates to stay elevated for longer and worries about China's economy. Spot gold was flat at $1,926.30 per ounce by 1209 GMT, after hitting its lowest since Aug. 29 earlier in the session.

Rupee opened at 82.02 a dollar. The US dollar held close to a six-month peak on safe haven buying as jitters over China and global growth weighed on risk appetite. Against a basket of currencies, the dollar was at 104.77, not far off the six-month high of 104.90 touched on Tuesday, Reuters reported.

oil price worries. The rupee fell to 83.1800 to the U.S. dollar from 83.04 in the previous session.Asian currencies declined following a further rise in U.S.

Paytm share price rose over 2 per cent in intraday trade on BSE on Wednesday, looking set to extend gains into the second consecutive session, boosted by the company's business updates for the month of August. One97 Communications Ltd, the parent of Paytm, reported a 20 per cent year-on-year (YoY) growth in average monthly transacting users at 94 million in the July-August period from 79 million in the same period last year. Besides, Paytm said in a statement that it disbursed loans worth ₹5,517 crore ($667 million) in August through its lending platform.

Apple is reportedly working on an ultra-affordable Macbook in a bid to fulfil the needs of the education sector and take on Google's Chromebook. Reportedly, the new model will be priced significantly lower than the existing models by the Cupertino-based company.

Reserve Bank of India’s (RBI) Governor Shaktikanta Das has touted Central Bank Digital Currencies (CBDCs) as a solution to 'high cost, low speed' cross-border payments. 

₹14,295 crore in August, this is the lowest since March. To be sure, India is seen relatively better placed than Asian peers on stable macros and is expected to continue to garner FII money in the near term.

low-irrigation areas to rejuvenate degraded land, enhance livelihood as well as explore the scope of biofuel production, Union Minister Giriraj Singh has said. The minister for rural development also told PTI that a pilot project for planting spineless cactus is being implemented at present around the ISKCON cowshed in Rajasthan's Hingonia, where the biomass of cacti will be used to produce biogas at a nearby Compressed Bio Gas (CBG) plant. India has around 30 per cent of its geographical area under the category of degraded land, according to government data. «We have been focusing on treating degraded land, and cactus is a plant that can grow with very little irrigation.

NEW DELHI : Foreign portfolio investment inflows into the Indian markets slowed in August after robust flows from April to July due to worries about impending rate hikes in the US, resulting in higher bond yields and a stronger dollar. Inflows in August were the weakest since February. Fears about rate hikes have also triggered outflows from other emerging markets.

Bitcoin (BTC) fell further after the Sept. 1 Wall Street open as monthly close losses continued to play out.

India's imports of Russian oil fell in August to a seven-month low as refiners curbed purchases due to planned maintenance outages at some plants and lower discounts for Russian grades. However, oil imports from Saudi Arabia surged to a multi-month high, according to preliminary data from Kpler and Refinitiv trade flows. Refiners in India have been snapping up discounted Russian oil after some Western buyers shunned purchases over Russia's full-scale invasion of Ukraine in February last year. But India's monthly imports of Russian oil have been declining since June as discounts began to shrink, the data from the two agencies show. «Imports of Russian oil are likely to remain at subdued levels for a couple of months due to lower discounts, and that would force suppliers of Russian oil to provide deeper discounts,» said Refinitiv analyst Ehsan Ul Haq. Discounts on Russian oil for October loading are below $5 a barrel to benchmark dated Brent, a refinery source said, adding his company had not yet placed an order for October Russian oil. Buying Russian oil in spot markets gives Indian refiners greater flexibility than Middle Eastern purchases that are mostly under annual contracts. A government source last month said Indian refiners could cut imports of Russian oil as narrowing discounts were raising the price of Russian grades to above the $60 per barrel ceiling set by Western nations. India's Russian oil imports in August declined by a fifth from July to about 1.5 million barrels per day (bpd) while those from Saudi Arabia leapt by about 63%, according to Refinitiv data. According to Kpler estimates, India imported 1.35 million bpd of Russian oil in August, down from about 1.9 million bpd in July.

Fund investors are keeping more of what’s theirs

Monero (XMR), the leading privacy-focused crypto, has been grappling with a price descent to new price lows, raising doubts about its ongoing journey. In contrast, Pomerdoge (POMD) is outperforming early predictions for its presale. In the last couple of weeks, more than 70 million POMD tokens have been sold, making it one of the fastest-selling presale projects.

India witnessed the driest August in more than a century as the country received 36% less rainfall than normal in 2023, according to data compiled by the India Meteorological Department (IMD) on Thursday. The country has received 10% lower rainfall than normal from June 1 to August 31, the IMD data showed. The monsoon, vital for the $ 3 trillion economy, delivers nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.

Bitcoin (BTC) is retaining this week’s gains — and some traders are doubling down on their bullish BTC price bets.

Wednesday, August 30th, 2023 – Altcoin season looks set to take off, and new meme coin Sonik Coin in a show of strength, has raised more than $750,000 from hungry investors.

An increasing share of low-income Americans are behind on rent and struggling to afford food, adding to signs of growing financial distress in the economy. 

Following Binance's suspension of its cryptocurrency debit card services, Binance is introducing a new product in Latin America called "Send Cash," which enables users from 9 countries in the region to transfer crypto using Binance Pay.

By Karen Brettell and Alun John

Food inflation fell to 11.5% from 13.4% in July.

WhatsApp has started rolling out a new HD video sharing feature for Android users, after earlier introducing support for high-resolution images. Traditionally, WhatsApp had used compression for all videos shared on its platform which leads to a reduction in video quality. This new update, however, allows users to opt for high-resolution video sharing, which would be a significant shift in user experience. The update, called WhatsApp for Android version 2.23.17.74, started its rollout on Thursday, gradually making its way to user devices.