Voice of Commonwealth

Business

Indian Rupee plummets

India (Commonwealth) _ On Friday, March 22, the Indian Rupee (INR) closed at a record low compared to the US dollar (USD). Investors and foreign exchange dealers want an explanation about the current state of the Indian rupee.Notably, in relation to the US dollar, the Indian Rupee has just recovered from one of its worst weeks ever. INR started on Monday, March 18, at $0.01206, according on data drawn by TradingView from The Intercontinental Exchange (ICE).India's native currency then began to plummet, reaching all-time lows with each successive daily closing. Ultimately, falling below historical resistance at a record-low daily...

Brimming Virgin Wines

Uk (Commonwealth) _Virgin Wines, an online wine retailer that sells directly to consumers, has reported an increase in its half-year profits and sales. Underlying EBITDA jumped by 122% to £1.76 million in the six months ending December 29, while overall sales grew by 2% to £34.3 million. Pre-tax profit increased from £0.1 million to £1.1 million over the same period previous year.Virgin Wines credited improved gross margins, a considerable...

Amul goes to US

India (Commonwealth) _ Famous dairy company Amul, whose advertising slogan is "Taste of India," is expanding internationally for the first time and is prepared to provide Americans with a variety of fresh goods."I am happy to announce that Amul will be introducing its fresh milk products to the American market.” We are pleased to announce our partnership with the Michigan Milk Producers Association, a 108-year-old dairy cooperative in the...

Onion exports restricted

India (Commonwealth) _ Indian Commerce Ministry has announced that the export restriction on onions has been prolonged by the government until additional regulations are issued. It was earlier forbidden until this year's March 31.The export ban on onions, which is in effect until March 31, 2024, has been prolonged until additional directives are given, according to a March 22 announcement from the Directorate General of Foreign Trade (DGFT). The ministry's...

India’s top-performing states

India (Commonwealth) _ Because of their strong infrastructure and established industrial ecosystems, the states of Maharashtra, which includes Mumbai and Pune, and Karnataka, home to Bengaluru, are often thought of when discussing India's reputation as a magnet for foreign direct investment (FDI). But when it comes to drawing foreign direct investment (FDI), Chandigarh, a little-known union territory with a population of little over a million, is India's most competitive...

India’s export revenue to soar

India (Commonwealth) _ Despite geopolitical obstacles like the Red Sea situation, the nation's goods exports are anticipated to surpass USD 450 billion by the end of this fiscal year, according to newly elected FIEO president Ashwani Kumar on Tuesday.He stated that the issues posed by the Red Sea situation must be addressed immediately by making sure that maritime insurance is available and by rationally raising freight rates.The exporting industry,...

Massive Ice cream tumble

UK (Commonwealth) _ In a fresh cost-cutting initiative, Unilever said on Tuesday that it will spin off its ice cream division, which is home to well-known brands like Magnum and Ben & Jerry's, and eliminate 7,500 jobs.The idea was well received by investors, who at one time drove shares of Unilever, one of the largest consumer products corporations in the world, up about 6%.In addition to the ice cream...