December 30: News view in pics
December 30: News view in pics
A customer walks past a Carrefour outlet in Kuala Lumpur
Parsvnath Developers said on Thursday French retailer Carrefour will open its first cash-and-carry store in India at one of the realtor's New Delhi malls.
In September, a Carrefour executive told that its first store in India will have a surface area of 5,000 square metres.
India's $450 billion retail sector is largely closed to foreign firms and favours small stores, which provide livelihoods for hundreds of thousands and serve a market of more than 1 billion. Multi-brand retail is restricted to cash-and-carry or wholesale outlets.
Labourers work in a vegetable field in New Delhi
India's food inflation accelerated to a 10-week high in mid-December on rising prices of vegetables, while the fuel index also rose, adding to inflationary worries in Asia's third-largest economy.
India's annual wholesale price index (WPI) inflation for November stood at 7.48 per cent, and a recent spike in prices of vegetables like onions and potatoes as well as an increase in petrol prices earlier this month are expected to push the headline inflation number higher in December.
India's food price index rose 14.44 per cent while the fuel price index climbed 11.63 per cent in the year to December 18, data on Thursday showed.
A worker packs onion bags at a wholesale vegetable market in Chandigarh.
The Reserve Bank of India (RBI) deputy governor K C Chakrabarty said on Thursday that inflation was always a concern, and a pause in rate hikes does not mean a halt.
India's food inflation accelerated to a ten-week high in mid-December on rising prices of vegetables, while the fuel index also rose, adding to inflationary worries in Asia's third-largest economy.
An attendent decorates a mannequinn with silver jewellery at her stall during the India International Jewellery Show (IIJS) in Bombay
Spot silver hit a 30-year peak and palladium a nine-year high on Thursday, buoyed by a weak dollar and strength in base metals, while gold rose to its highest in three weeks, supported by good physical demand.
The dollar weakened broadly, as traders took falls in US bond yields as a cue to sell the greenback.
Spot silver hit a 30-year high of $30.84 an ounce, before easing to $30.76 by 0719 GMT. US silver futures hit $30.89 an ounce, and was trading at $30.81
The strength in base metals, led by copper, helped buoy silver and platinum group metals, traders said.
Three-month copper on the London Metal Exchange rallied to a record high of $9,550 a tonne, powered by supply worries and buying by holders of strong Asian currencies.
P K Anand, Executive Director, Punjab & Sind Bank and H S Makker, Chief General Manager, Punjab & Sind Bank at Punjab & Sind Bank Listing Ceremony in Mumbai today
Punjab & Sind Bank made a smart debut on the bourses today, listing at a premium of nearly 22 per cent over its issue price of Rs 120 on the BSE.
Shares of the state-run lender opened at Rs 146.10, up 21.75 per cent vis-a-vis their issue price, on the Bombay Stock Exchange.
The scrip witnessed a similar debut on the National Stock Exchange and opened at Rs 144, translating into a premium of 20 per cent over the issue price.
The bank had fixed the issue price of shares under its recent initial public offer (IPO) at Rs 120 apiece -- the upper end of the price band of Rs 113-120 a share.
Punjab & Sind Bank raised nearly Rs 480 crore through the initial public offer (IPO), which was subscribed 50.75 times.
(Picture by Kamlesh Pednekar)
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