The fall in commodity prices could help narrow India's trade deficit in the coming months, aiding the rupee, analysts said on Friday.
India's trade deficit narrowed to $23.9 billion in November from $26.9 billion in the previous month, data released on Thursday showed. It was the lowest trade deficit reading since May.
On a month-on-month basis, exports expanded by 7.4 per cent in November, while imports retreated 1.4 per cent, helping narrow the trade deficit, Barclays Bank said in a note.
"The fall in imports remains a key emerging trend," Rahul Bajoria, chief India economist at Barclays Bank, wrote in the note.
Imports fell to their lowest level in 10 months in November, on lower international commodity prices and weaker domestic demand, Bajoria said.
"We expect this trend to continue and any further decline in commodity prices will only help in a faster consolidation of imports, providing more support to the exchange rate."
Lower commodity prices, especially oil, bode well for India's import bill, reducing the burden on trade deficit, said Swati Arora, economist at HDFC Bank.
"This will eventually be positive for the rupee."
HDFC Bank expects dollar/rupee in 81.50-83.00 range by March. The dollar/rupee is already at the top end of that range at 82.78.
India's current-account funding needs are large, but the balance of payment gap is getting smaller, Barclays' Bajoria said.
With India’s growth expected to ease to 6 per cent in fiscal year 2023-24 from an estimated 7 per cent this year, Mr Bajoria estimates the country's current account to register a smaller deficit of $105 billion on the back of falling crude oil prices.
Barclays expects India's current account deficit for 2022-23 to be at $115 billion or 3.3 per cent of the GDP.
"While India's trade deficit has been moderating on account of the lagged impact of lower commodity prices, the relative importance of demand side factors is likely to increase going ahead," Vivek Kumar, economist at QuantEco Research, said.
If India's economy continues to outgrow most of its key trading partners, then trade deficit could continue to remain "somewhat elevated," Mr Kumar said.
Results
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5.30pm: Handicap (PA) Dh80,000 (T) 1,600m. Winner: Dassan Da, Patrick Cosgrave, Helal Al Alawi
6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Heba Al Wathba, Richard Mullen, Jean de Roualle
6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 (T) 1,400m. Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m. Winner: Jawal Al Reef, Richard Mullen, Ahmed Al Mehairbi
Handicap (TB) Dh100,000 (T) 2,200m. Winner: Harbour Spirit, Adrie de Vries, Jaber Ramadhan.
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
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Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
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Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
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- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
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On sale: now
World Sevens Series standing after Dubai
1. South Africa
2. New Zealand
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4. Fiji
5. Australia
6. Samoa
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8. Scotland
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
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Kareem Shaheen on Canada
Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
Release Date: April 10
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Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
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- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
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Barcelona 2
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Real Madrid 2
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
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Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
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Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
BACK%20TO%20ALEXANDRIA
Up in the air
Getting%20there%20and%20where%20to%20stay
In numbers: PKK’s money network in Europe
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Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
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Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
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Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
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Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
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Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Dengue%20fever%20symptoms
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
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THE%20SWIMMERS
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