Sunday, March 08
Wholesale Price Index (WPI) inflation returned to positive territory in December, rising to 0.83% after two months of deflation. This uptick was primarily driven by increased prices in manufacturing, minerals, and food products, while fuel and power remained in deflation. Retail inflation also climbed, prompting the RBI to maintain its accommodative stance.
US President Trump's proposal for a 10% credit card interest rate cap aims to ease affordability, potentially saving consumers billions. However, critics warn this could restrict credit access for those with lower scores and negatively impact the broader economy. The banking industry strongly opposes the move, citing severe consequences for consumers and the economy.
High Commissioner of India to Kenya Adarsh Swaika met Kenya's Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs Musalia W Mudavadi on Monday, with both sides agreeing to convene the Kenya-India Joint Commission for Cooperation in New Delhi as part of efforts to further strengthen bilateral ties between the two nations.
Bengaluru-based Liquidnitro Games has secured $19.1 million in Series A funding, led by Northpoint Capital, to boost its AI-driven game development and global expansion. The investment will accelerate their proprietary platform, scale publisher partnerships, and enter new markets like India and Southeast Asia. This funding aims to revolutionize game production and live services.
US President Donald Trump will lead a large delegation to the World Economic Forum in Davos, Switzerland, starting January 18. Global leaders will convene amidst rising geopolitical tensions and economic uncertainty, with a focus on Ukraine, Gaza, and Latin America. India will also have a significant presence with ministers and over 100 CEOs.
Silver prices have reached an unprecedented Rs 2,71,000 per kilogram in Delhi, while gold hit a new high of Rs 1,45,000 per 10 grams. This surge, driven by safe-haven demand amidst global geopolitical tensions, marks significant gains for both precious metals. Investors are now keenly awaiting US inflation data for future market direction.
India anticipates minimal impact from US tariffs on Iran trade, with government sources highlighting limited exposure. Exporters confirm compliance with US norms for humanitarian trade, primarily food and pharmaceuticals, suggesting no adverse effects. However, currency depreciation poses a greater concern for Indian businesses.
India has slipped to third place in Russian fossil fuel imports for December 2025, with Reliance Industries and state refiners significantly cutting crude oil purchases. Turkiye now ranks second, while China remains the top buyer. This shift follows new US sanctions on Russian oil producers, impacting India's previously high reliance on discounted Russian crude.
