Daily News Snippets- 25 February 20221 min read
1) Russia has finally invaded Ukraine and this has led to a rise in oil prices. Western Countries have started imposing sanctions on Russia in a very severe and strict manner.
2) The Indian Currency depreciated by Rs. 1.09 on Thursday 24th February 2022 amid the ongoing tensions in the Russia-Ukraine conflict. To control this situation, the Central Bank of India- Reserve Bank of India (RBI) has intervened and has increased the supply of Dollars via its foreign exchange reserve.
3) Moody’s has increased the growth forecast of India to 8.4% in FY23, earlier this growth forecast was around 7.5%. While Fitch has maintained its growth forecast for India at 10.3%.
4) The rising oil price will certainly impact the inflation situation in the country and the current account deficit.
5) Mr. Sanjiv Bajaj, the chairman and managing director of Bajaj Finserv said that in the coming years, the entire business will going to be digital.
6) The companies from Steel, Engineering Goods, and Speciality Chemicals could be benefited from the ongoing tensions between Russia and Ukraine, where the western countries are imposing and might impose further sanctions on Russia wherein the situation seems that China is ready to defy such sanctions.
7) Due to the geopolitical tensions between Russia and Ukraine, Gold which is considered the safest haven, and its prices continue to shine.