Latest news with #EUR
Business Standard
8 hours ago
- Business
- Business Standard
EUR/USD tests one-week low before rebound, IMF warns Europe could face risk of economic stagnation
EUR/USD is witnessing a good rebound today after testing one-week low. The pair has recovered as the US Dollar loses ground and risk appetite is slowly picking up in global equities. Euro was hit earlier as International Monetary Fund (IMF) warned that Europe could face the risk of economic stagnation if it does not take urgent measures to address slowing economic growth, weak investment, and escalating geopolitical threats. The IMF stated that barriers in the European single market are hindering economic development and recommended deepening the EU single market and increasing fiscal budgets. However, while translates into a cautious medium-term outlook for the Euro, near term dynamics are being dominated by geopolitics and some cautiousness ahead o Traders now await fresh US manufacturing and leading economic data. EUR/USD pair is currently quoting at 1.1583, up 0.34% on the day. On the NSE, EUR/INR futures are quoting at 99.86, up 0.24% on the day in an overall tight session.
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Business Standard
15 hours ago
- Business
- Business Standard
Why is GMM Pfaudler share price buzzing in trade today? Key details here
GMM Pfaudler share price: GMM Pfaudler share price jumped up to 5.01 per cent to hit an intraday high of ₹1,206.35 per share on Friday, June 20, 2025. However, by 12:40 PM, GMM Pfaudler shares were off day's high, and were trading 2.99 per cent higher at ₹1,183 per share. In comparison, BSE Sensex was trading 0.73 per cent higher at 81,957.83 levels. What triggered the up move in GMM Pfaudler share price today? GMM Pfaudler share price jumped in trade today after the company announced that its wholly-owned subsidiary, Pfaudler Normag Systems GmbH, Germany, has entered into a contract with a Europe-based customer for the design, engineering, and supply of complete end-to-end acid recovery equipment and systems. The value of the contract is approximately ₹330 crore (or EUR 33.2 million). In an exchange filing, GMM Pfaudler said, 'This is to inform you that Pfaudler Normag Systems GmbH, Germany, a wholly owned subsidiary of the Company, has entered into a contract with a Europe-based customer for the design, engineering, and supply of complete end-to-end acid recovery equipment and systems.' Under the terms of the deal, the company will receive a down payment of 30 per cent on signing of the contract. 'The Company expects meaningful revenue contribution from this order,' said GMM Pfaudler, in a statement. About GMM Pfaudler GMM Pfaudler is among the leading global suppliers of process equipment and systems, with a strong specialisation in corrosion-resistant technologies. Serving a wide range of industries—including chemical, pharmaceutical, food, and energy—the company is renowned for its expertise in glass-lined equipment and a diversified product portfolio that includes mixing systems, filtration and drying units, and heavy engineering solutions. The company's global presence has been further boosted by its strategic acquisition of a majority stake in the international operations of the Pfaudler Group. The move has majorly expanded its manufacturing footprint and capabilities across continents. The market capitalisation of GMM Pfaudler is ₹5,318.44 crore, according to BSE. The company falls under the BSE SmallCap category. The 52-week high of GMM Pfaudler is ₹1,530.80 per share, while its 52-week low is ₹953 per share.
Mid East Info
17 hours ago
- Business
- Mid East Info
Wheat rise on short covering and weather woes, but fundamentals still lacking – Saxo Bank MENA - Middle East Business News and Information
Ole Hansen, Head of Commodity Strategy, Saxo Bank Wheat futures in Chicago surged to a two-month high on Wednesday, driven by adverse weather across key growing regions in the U.S., Europe, and Russia, alongside signs of robust export demand—particularly into North Africa. The rally, which comes ahead of the U.S. holiday, has been amplified by hedge funds reducing long-held short positions in both CBOT and Kansas HRW contracts. Images of combine harvesters stuck in muddy fields underscore the slow start to the U.S. winter wheat harvest. Persistent rains across the southern Plains—especially in Oklahoma and Kansas—have delayed progress. In Oklahoma, just 5% of the crop had been harvested by early June, down sharply from 44% last year and well below the five-year average of 23%. Nationwide, only 10% of the winter wheat crop has been harvested—the slowest pace since 2019—compared with the seasonal norm around 18%, according to USDA. Despite the harvest delays, early crop quality and yields have exceeded expectations. The USDA this week also lifted its spring wheat condition rating to 57% good or excellent, up from 53%, suggesting no immediate threat to overall production. On the charts, the most traded September and December CBOT wheat contracts have approached key trendline resistance, at USD 5.94 and USD 6.19 respectively, with last trades at USD 5.905 and USD 6.12. Elsewhere, weather challenges continue to unfold. In Russia, drought-hit regions such as Krasnodar and Rostov have declared emergencies, fuelling protective buying in Europe. In Western Europe, spring rains have improved crop conditions but delayed ripening and harvest, while also raising the risk of disease. In response, the benchmark Paris Milling Wheat contract recently broke back above EUR 200/ton, last trading near a one-month high around EUR 208. Whether these developments mark a sustainable bottom around USD 5 (CBOT wheat) remains to be seen. So far, the main bid has come from funds reducing bearish exposure. Hedge funds have maintained a net short in CBOT wheat for three consecutive years, and in Kansas HRW since August 2023. In the four weeks to June 10, managed money cut its CBOT net short by 26% to 94k contracts, while the Kansas net short was trimmed by just 7% to 75k. As per the charts above, additional price strength leading to an upside break may add further momentum to the rally, not necessarily due to price-friendly fundamentals, but first of all due to buying as wrong-footed longs scale back bearish bets. For the rally to become more sustainable, thereby signalling a low in the market following three years of weakness, the global production outlook needs to deteriorate further, so for now we view the rally as technically more than fundamentally driven.
Business Standard
18 hours ago
- Business
- Business Standard
GMM Pfaudler rises after subsidiary bags supply contract worth Rs 330 crore
GMM Pfaudler added 1.92% to Rs 1170.75 after the company said that its wholly owned subsidiary Pfaudler Normag Systems GmbH, Germany, has received a contract for supplying acid recovery equipment & systems from a Europe-based customer. The European customer is a manufacturer of light and medium weapons, ammunition, and tools for the defence and civilian sectors. As per the terms of the contract, the company would undertake design, engineering, and supply of complete end-to-end acid recovery equipment & systems. The project has to be executed within a period of 4 years. The value of this order is EUR 33.2 million or approximately Rs 330 crore. "The company expects meaningful revenue contribution from this order," GMM Pfaudler said in a statement. GMM Pfaudler delivers corrosion-resistant technologies, systems, and services worldwide and remains the preferred choice by consistently providing its customers in the chemical and pharmaceutical industries with innovative and cost-effective solutions. The company had reported a consolidated net loss of Rs 26.95 crore in the quarter ended March 2025 as against net profit of Rs 27.63 crore during the previous quarter ended March 2024. Sales rose 8.89% to Rs 806.59 crore in Q4 FY25 as compared with Q4 FY24.
Qatar Tribune
a day ago
- Business
- Qatar Tribune
Qatar participates in meeting of Europe, North Atlantic civil aviation directors-general
PARIS: The State of Qatar, represented by the Civil Aviation Authority participated in the EUR/NAT-DGCA/2025 meeting of Directors General of Civil Aviation for the Europe and North Atlantic Region, held in the French capital, Paris. The Qatari delegation was headed by acting President of the Qatar Civil Aviation Authority Mohammed Faleh Al Hajri. The meeting addressed a number of topics related to regional cooperation and ways to support the implementation of programs and initiatives overseen by the International Civil Aviation Organization (ICAO) in the areas of safety, air navigation, training, and aviation workforce planning. In his speech at the meeting, Al Hajri emphasized Qatar's commitment to strengthening international cooperation and the exchange of expertise in the field of civil aviation. He highlighted the importance of joint efforts to enhance safety systems and improve the efficiency of the human resources working in the sector. He also reviewed the State of Qatar's contributions to supporting ICAO's efforts, noting the ongoing constructive cooperation between the QCAA and the ICAO Regional Office in Paris, as well as other ICAO offices, in a manner that contributes to the organization's goals and strategic plans. On the sidelines of the meeting, Al Hajri held a series of bilateral meetings with heads of civil aviation authorities from countries in the Europe and North Atlantic region. These discussions focused on strengthening technical and operational cooperation and exploring mechanisms for joint coordination between Qatar and member states ahead of the upcoming ICAO General Assembly.
