Wed, Nov 27, 2024 5:48 PM
Coffee Gets Even Pricier as Futures Rally to Highest Since 1977
A Flip by Avya Verma
Japanese chip distributor Macnica Holdings is seeking possible acquisition targets in other parts of Asia, a sign of industry pressures to consolidate. Macnica, which sells chips made by the likes of Intel Corp’s Altera, is eyeing an overseas acquisition to better hold its own against bigger competitors. Scale is becoming important even for distributors, according to Macnica President Kazuma Hara.
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Bullion prices rebounded after two days of sharp fall with silver logging its steepest single-day gain of Rs 5,200 to hit Rs 95,800 per kg on Wednesday amid strong global trends and buying rush from local jewellers. Gold of 99.9% purity climbed Rs 650 to Rs 78,800 per 10 grams in the national capital on Wednesday, according to the All India Sarafa Association.
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Crude oil prices were stable on Wednesday, due to an expectation from the market, regarding ceasefire agreement between Israel and Hezbollah. The ceasefire expectations were aligned with anticipation of OPEC+ meeting on Sunday, where the oil producing nations could delay a planned increase in oil output. Brent crude futures showed an upward movement of 32 cents, or 0.44% to $73.13 per barrel.
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