Connect with us
Saturday,05-April-2025
Breaking News

Business

World Bank warns of rises in food, energy prices due to Russia-Ukraine conflict

Published

on

The Russia-Ukraine conflict has dealt “a major shock” to commodity markets, altering global patterns of trade, production and consumption, the World Bank (WB) said in a report released on Tuesday.

The increase in energy prices over the past two years has been the largest since the year 1973, according to the WB’s latest Commodity Markets Outlook report, Xinhua news agency reported.

Price increases for food commodities, of which Russia and Ukraine are large producers, and fertilisers, which rely on natural gas as a production input, have been the largest since 2008, the report noted.

The report estimated that energy prices are expected to rise more than 50 per cent in 2022 before easing in 2023 and 2024.

The price of Brent crude oil is expected to average $100 a barrel in 2022, its highest level since 2013 and an increase of more than 40 per cent compared to 2021. Prices are expected to moderate to $92 in 2023, still well above the five-year average of $60 a barrel.

Non-energy prices, including agriculture and metals, are projected to increase almost 20 per cent in 2022 and will also moderate in the following years.

Wheat prices are forecast to increase more than 40 per cent, reaching an all-time high in nominal terms this year. Metal prices are projected to increase by 16 per cent in 2022 before easing in 2023 but will remain at elevated levels.

Commodity prices are expected to remain well above the most recent five-year average, according to the report.

In the event of a prolonged conflict or additional sanctions on Russia, prices could be even higher and more volatile than currently projected, it added.

Crime

Kunal Kamra issued third summons by Mumbai Police, asked to appear for questioning today

Published

on

Mumbai, April 5: Stand up comedian Kunal Kamra has been issued a third summons by Mumbai’s Khar Police, asking him to appear for questioning on Saturday.

This summons follows two previous attempts by the police to call Kamra in for investigation, but the comedian failed to show up for either of the earlier summons.

Kamra is under investigation for an alleged controversial comment that was understood to be an indirect swipe at Maharashtra Deputy Chief Minister Eknath Shinde.

The video, which aired following Kamra’s performance at the Habitat Comedy Club in Khar, saw the comedian using a modified version of a popular Bollywood song from ‘Dil To Pagal Hai.’ “Meri nazar se tum dekho toh, gaddar nazar wo aaye. Haaye,” Kunal Kamra said during his show which was understood to be a jibe at Shinde.

The comments, were perceived to be made in the context of the 2022 Maharashtra political crisis, which led to the fall of the Uddhav Thackeray-led government, resulted in multiple FIRs being filed against Kamra.

Following the release of Kamra’s video on March 23, Shiv Sena workers, angered by his remarks, vandalised the Unicontinental Hotel in Khar where Kamra had recorded the video. This incident led to the arrest of 12 Shinde supporters, who were later granted bail.

In response to the summons, Kamra had earlier stated he was unavailable in Mumbai due to prior commitments and offered to appear for questioning on April 2.

However, the police did not accept his request for a delayed appearance.

Kamra’s lawyer, V. Suresh, had expressed concerns about Kamra’s safety, claiming he had received threats from certain Maharashtra Cabinet ministers.

Mumbai’s Khar Police Station is investigating the matter, with two FIRs already filed against Kamra for derogatory remarks. In addition, three more FIRs filed against him in different parts of Maharashtra have been combined into the Mumbai investigation.

The police have confirmed that Kamra is not currently in contact with the Khar police station. Kamra has been granted protection from arrest until April 7 by the Madras High Court, but the latest summons indicate that the investigation is moving forward despite his earlier refusals to comply.

Continue Reading

Business

India-US trade negotiations key to boost stock market sentiment: Experts

Published

on

New Delhi, April 5: The new financial year (FY26) has commenced on a subdued note, largely driven by the imposition of higher-than-anticipated tariffs by the US, market experts said on Saturday, adding that any constructive developments arising from the ongoing India–US bilateral trade negotiations could serve as a supportive catalyst for the market.

Sectors like IT and metals have underperformed relative to the broader market, reflecting growing concerns over the outlook for the US economy and potential retaliatory trade actions by other countries.

According to Vinod Nair, Head of Research, Geojit Investments Limited, investors are expected to closely monitor any countermeasures implemented by global trade partners, which could further exacerbate geopolitical and economic uncertainty.

This cautious sentiment is reflected in the sustained rally in gold and bond prices, underscoring a pronounced shift toward safe-haven assets.

Meanwhile, benchmark indices extended their losing streak to a second session on Friday, falling over a per cent each, as a risk-off sentiment took over global markets amid fears of a trade war on the back of US President Donald Trump’s reciprocal tariffs, according to a Bajaj Broking Research note.

Nifty was down 345.65 points or 1.49 per cent at 22,904.45. Investors fear that aggressive trade policies by US would lead to retaliatory measures from other countries, escalating into a full-scale trade war. Such an outcome could disrupt global supply chains and slow economic growth.

The broader markets witnessed sharp decline, with the Nifty Midcap 100 and Nifty Small cap 100 declining by 2.91 per cent and 3.56 per cent, respectively. All the sectoral indices traded with sharp cuts, with the IT, Auto, Pharma, PSU Bank, Realty, Oil and Gas and metals gauges losing 6 per cent to 3 per cent.

Index is currently placed around the key support area of 22,700-22,800, holding above the same will be crucial for pullback to materialise towards last week high 23,565 in coming week.

“Failure to hold above the support area of 22,700 can lead to extended decline towards 22,300 levels. Along with the development on US tariff policies, market participant will also keep a close eye on the RBI monetary policy outcome and resumption of Q4 FY25 earnings season in the coming week,” said Bajaj Broking Research.

Investor attention is also firmly fixed on the upcoming MPC meeting, with the benchmark interest rate decision expected next week.

A favourable outcome could benefit rate-sensitive sectors. In addition, key macroeconomic indicators — namely India’s inflation figures and US jobless claims — will be closely watched, as they are likely to offer critical insights into the underlying economic conditions in both regions, said experts.

Meanwhile, market focus is gradually shifting toward the upcoming corporate earnings season. The initial outlook remains subdued, with the risk of further downward revisions to earnings growth, largely due to tepid demand and continued margin pressures.

Continue Reading

National

HM Shah to review anti-Naxal operations in Chhattisgarh today

Published

on

Raipur, April 5: Union Home Minister Amit Shah will assess the progress of the ongoing anti-Naxal operations in Chhattisgarh on Saturday.

HM Shah’s two-day trip to the state is centred around reviewing the effectiveness of security measures in the Left Wing Extremism-affected regions of Bastar and Gariaband.

HM Shah arrived at Swami Vivekananda Airport in Raipur at around 9:30 p.m. on Friday, where he was welcomed by Chief Minister Vishnu Deo Sai, Deputy CM Vijay Sharma, and other senior officials. From there, he headed to a hotel in Nava Raipur to prepare for his engagements.

The primary focus of his visit will be a high-level meeting scheduled for today, where he will evaluate the ongoing anti-Naxal efforts in the state.

HM Shah is expected to directly review the security situation in Bastar, a key region hit by insurgency. The meeting will specifically concentrate on operations in Dantewada, Bijapur, and Kanker, the districts most affected by Naxal violence.

In addition to meeting with security personnel involved in these operations, HM Shah will assess the strategies employed to curb the Naxal threat.

The visit comes at a time when Chhattisgarh has seen significant success in its fight against Naxalism.

In 2025 alone, at least 130 Naxalites have been killed in encounters, with more than 110 of these deaths occurring in the Bastar division.

Over 105 Naxalites have been arrested, while 164 others have voluntarily surrendered as part of the ongoing peace restoration efforts.

On Saturday, HM Shah will visit Dantewada, a key Naxal stronghold, where he will also offer prayers at the Maa Danteshwari Temple. Later, he will attend the closing ceremony of the ‘Bastar Pandum’ festival, a cultural event showcasing the rich traditions, art, and cuisine of the tribal communities in the region.

This visit underscores the government’s broader strategy to eliminate the Naxal threat by March 31, 2026.

Continue Reading

Trending