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07:20
India's Ministry of Finance warns: Weak monsoon and rising fuel prices may drive retail inflation higher
1. The Indian Ministry of Finance released a report on Saturday stating that the country's retail inflation may face upward pressure due to multiple factors, including recent increases in fuel prices, below-average monsoon rainfall, and ongoing Middle East conflicts disrupting energy supplies.2. The report stated that the duration of the Hormuz Strait disruption remains "the most crucial variable" affecting India's external economic situation and price outlook. The significant rise in upstream price pressure, combined with recent increases in fuel prices, means that rising costs in transportation, energy, and food are likely to be gradually transmitted to end retail prices in the coming months.3. Additionally, the report noted that severely insufficient rainfall, coupled with the current geopolitical instability, could further push up food prices, thereby weakening rural consumption demand and dragging down overall economic growth.
07:17
Kalshi's Head of Crypto Jokingly Claims "We Are Not a Crypto Company," While Crypto Accounts for 70% of the Prediction Market
According to Foresight News, John Wang, Head of Crypto at Kalshi, posted in a self-deprecating tone: "Kalshi is not a cryptocurrency company. We are merely the first regulated platform in the United States legally offering crypto perpetual contract trading; we hold a 70% market share of trading volume in crypto prediction markets, making it our second largest category; we serve as the liquidity layer for a certain exchange and Phantom frontend; we only accept cryptocurrency for international deposits. Yes, Kalshi is not a cryptocurrency company."
07:06
US Oil Giant Says Oil Prices Are Very Likely to Rise This Summer
Glonhui, May 30 — According to CCTV Finance, at a conference held by investment institution Bernstein, Mike Wirth, CEO of US oil giant Chevron, stated that due to the situation in Iran, global crude oil inventories are continually declining, and oil prices are very likely to rise over the next two months. The Financial Times reported that Wirth's remarks reflect a widespread concern: even if the parties involved in the conflict reach a ceasefire agreement, the negative impact of the war on energy prices will persist for several months. In addition, according to a report by CNN on the 28th, due to the ongoing geopolitical conflict in the Middle East, the US Strategic Petroleum Reserve is falling at a rate rarely seen in recent years, and commercial crude oil inventories are also at low levels.
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