Business

State Bank of India (SBI) on Saturday said it has executed its first gold trade as a special category client (SCC) on the India International Bullion Exchange (IIBX), marking a key step in reshaping India’s bullion import framework.The move, SBI said, signals “a transformative era” for the bullion trade by enhancing efficiency, transparency, and accessibility,…

NTPC Ltd has begun drilling India’s first-ever geological carbon dioxide (CO2) storage well at its Pakri Barwadih coal mine in Jharkhand, marking a significant milestone in the country’s carbon capture and storage efforts.The initiative, spearheaded by NTPC’s R&D arm– the NTPC Energy Technology Research Alliance (NETRA)– represents a crucial step in advancing India’s Carbon Capture,…

Gold prices continued to slide for the second straight week, pressured by a stronger dollar, easing geopolitical tensions, and the US Federal Reserve’s cautious signals on rate cuts that dented demand for safe-haven assets.On the Multi Commodity Exchange (MCX), gold futures for December delivery fell Rs 2,219, or 1.8 per cent, over the week. The…

Warren Buffett’s Berkshire Hathaway reported a 17% rise in quarterly profit, boosted by a rebound in its insurance operations and gains from investments, even as the legendary investor prepares to hand over the reins to Vice Chair Greg Abel in January, AP reported.The company said on Saturday that it earned $30.8 billion, or $21,413 per…

China on Saturday said it will exempt certain Nexperia semiconductor products from an export ban imposed amid a dispute with Dutch authorities, signalling a partial easing of tensions that had alarmed European businesses.Anxiety over potential chip shortages had mounted after the Netherlands invoked a Cold War-era law in late September to take control of Nexperia,…

Many retired central government employees are waiting to see how the 8th Pay Commission will impact their pensions, now that the Centre has approved the commission’s Terms of Reference (ToR) and given an 18-month timeline for the report. Although pay commission discussions usually revolve around serving employees, pensioners outnumber them. As per the government’s Pensioners’…

India’s power consumption fell 6% year-on-year to 132 billion units (BUs) in October from 140.47 BUs in the same month last year, mainly due to lower use of cooling appliances and unseasonal rains across several regions, PTI reported.Experts attributed the decline to the combined impact of widespread rainfall and the early onset of winter, which…

India’s gross Goods and Services Tax (GST) collections rose 4.6% year-on-year to about Rs 1.96 lakh crore in October, driven by festive demand and pent-up consumption, according to government data released on Saturday.The increase came despite GST rate cuts on 375 items–from kitchen essentials to electronics and automobiles–that took effect from September 22, coinciding with…

During their latest meeting in South Korea, US President Donald Trump and Chinese President Xi Jinping managed to cool the intense trade stand-off between their countries briefly. The two leaders reached a provisional deal: the US would trim tariffs on Chinese goods by 10%, bringing the rate down to 47%, while China would pause its…

FASTag users will no longer face service disruption for not completing vehicle verification, with the National Highways Authority of India (NHAI) revising the Know Your Vehicle (KYV) process to make it simpler and more user-friendly. FASTag, a device fixed on a vehicle’s windscreen, enables automatic toll payment using Radio Frequency Identification (RFID) technology, allowing motorists…