The week starting on September 7 remained highly volatile for markets with a mix of global uncertainty, rising oil prices and expectations of interest rates hike by US Federal Reserve, while corporate India saw several important developments. Here are few top stories from this week - US-Iran Conflict Tensions between US and Iran escalated again this week following a brief pause as US Central Command (CENTCOM) reported that the American forces attacked five Iranian oil tankers in the Gulf of Oman and near Kharg Island. Iran responded by launching ballistic missiles at a US base in Jordan and targeted multiple commercial and military vessels near the Strait of Hormuz. Oil Prices Cross $100 Oil prices rose over $100 a barrel this week, for the first time in nearly four months, even hitting $109 before retreating on Friday. Crude prices are track for a weekly gain of around 8% to 9%. Following this surge, benchmark indices such as Sensex and Nifty fell, posting consecutive ...
The coming by-polls in West Bengal are expected to be bellwether for which way the political winds are blowing in Mamata Banerjee's West Bengal after the massive protests over the rape-murder of a Kolkata doctor. The protest, strongly backed by the urban middle class, has shaken the state and despite protesters' claims that it was apolitical, it had received significant support from the opposition. By-polls are due in six seats in various parts of the state - their geography and demography are expected to be strong indicators of the political trend. The seats include Naihati, the urban centre close to Kolkata, the minority dominated Haroa, Taldangra with a significant tribal population, Sitai with a chunk of minority and Rajbanshi vote, the tea garden seat of north Bengal. Madiahat and Medinipur. Many believe that the results now could throw light on whether the RG Kar protests will impact future elections. The Opposition BJP, which has been trying to dislodge Mamata Banerje...