Gold rose – putting it on track for a 2% weekly gain – as President Donald Trump said some US trading partners would face tariffs from Aug 1. Bullion rose 0.5% to around $3,340 an ounce on Friday as investors weighed the latest trade comments from the president, who said the administration will start sending…
CHENNAI: A weak rupee was among the reasons that made foreign currency deposits attractive for NRIs. The net inflow under foreign currency non-resident (B) accounts increased by 11% to $7.1 billion in FY25 from $6.4 billion in FY24. It comes after NRIs pulled out their deposits earlier, turning the category negative during 2020-21 and 2021-22.Data…
India’s Competition watchdog, the Competition Commission of India (CCI) has directed UltraTech Cement — which now controls India Cements — along with Dalmia Bharat and Shree Digvijay Cement, to furnish detailed financial records and income tax data following a Director General (DG) report that flagged violations of competition norms in a tendering process by ONGC.In…
NEW DELHI: The Petroleum and Natural Gas Regulatory Board has revised the pipeline tariff norms with the aim of reducing wheeling cost for city gas service companies and expanding access to cleaner fuel in underserved areas.The revised norms have rationalised the tariff zones, which are based on wheeling distance, to two from three that existed…
The free trade agreement between India and the European Free Trade Association (EFTA) is likely to be implemented in the next couple of months, Commerce and Industry Minister Piyush Goyal said on Friday.India and the four-nation EFTA bloc—comprising Switzerland, Norway, Iceland, and Liechtenstein—had signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024….
Reliance Jio may have outpaced Bharti Airtel in both overall revenue and per-user revenue growth in the June quarter, aided by strong additions in its high-paying fixed wireless access (FWA) home broadband segment, analysts said ahead of the telecom sector’s first-quarter earnings.Market leader Jio is expected to report a 1.8% sequential jump in average revenue…
Market regulator Sebi’s sweeping action against global proprietary trading firm Jane Street has triggered wider concerns about India’s options markets, with Zerodha founder and CEO Nithin Kamath warning that the crackdown, while justified, could adversely affect retail trading activity and hit exchanges and brokers.“You’ve got to hand it to SEBI for going after Jane Street….
Air India Express operates as a Tata Group-controlled subsidiary of Air India. (AI image) The Directorate General of Civil Aviation had in March expressed disapproval against Air India Express for failing to replace engine components of an Airbus A320 as stipulated by the European Union Aviation Safety Agency. Not only that, the airline also submitted…
Tata Steel has received a demand notice of Rs 1,902 crore from the Deputy Director of Mines, Jajpur, for an alleged shortfall in mineral dispatch from its Sukinda Chromite Block in Odisha. The company disclosed the development in a stock exchange filing on Friday and said it would pursue legal remedies.The demand, issued on July…
India’s foreign exchange reserves surged by $4.84 billion to reach $702.78 billion for the week ended June 27, inching closer to their record peak, according to data released by the Reserve Bank of India (RBI) on Friday.This rise follows a dip of $1.01 billion in the previous week, when reserves had stood at $697.93 billion….