While Russian exporters continue loading crude onto vessels, refineries show reduced willingness to transfer the cargo to their storage facilities. (AI image) Donald Trump’s latest sanctions on Russian crude oil firms appears to have had the intended impact – at least as of now. Refiners are reportedly unwilling to pick up Russian crude oil from…
India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime intelligence…
Watchdog FATF hails ED’s asset recovery efforts NEW DELHI: The Financial Action Task Force (FATF) acknowledged India’s efforts in recovering public assets lost to financial crimes, highlighting a money laundering case where land confiscated by the Enforcement Directorate (ED) was identified for the construction of a new airport that would serve the public.The acknowledgment comes…
Union Commerce Minister Piyush Goyal on Wednesday gave an update on the ongoing India-US trade talks amid persisting tensions, as India deals with 50% tariffs. The union minister indicated that while discussions on the India-US Bilateral Trade Agreement (BTA) are “going on very well,” there remain “many sensitive and serious issues” that will require additional…
The Japanese conglomerate, with its extensive AI investment portfolio spanning various sectors, saw a substantial $32 billion reduction in market capitalisation. (AI image) SoftBank Group’s shares saw a dramatic 14% decline on Wednesday, accompanied by broader falls across Asian AI-related companies, reflecting similar drops in their US counterparts. Investors displayed increasing caution towards the high…
AI image used for representative purposes Following improved India-China relations, the authorities, including the International Financial Services Centre Authority (IFSCA), are evaluating a banking sector proposal to enable International Banking Units at Gujarat International Finance Tec City (GIFT City) to conduct transactions in offshore renminbi (CNH).GIFT City operates as a global financial services hub, serving…
Every year, lakhs of pensioners across India must prove that they are still alive to continue receiving their pension. This verification, known as the Life Certificate or Digital Life Certificate (DLC), is a crucial step in ensuring that pension payments are made only to eligible recipients.Traditionally, this process involved visiting the bank or pension office…
The United States has entered uncharted territory as the ongoing government shutdown surpassed all previous records, becoming the longest-ever on Wednesday, exceeding the 35-day benchmark set during Donald Trump’s first term. The stalemate—rooted in a bitter dispute over healthcare spending—has left federal agencies shuttered, key welfare programmes suspended, and millions of Americans bracing for deepening…
China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff.According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “for one year, the…
As nation gears up to celebrate Guru Nanak Jayanti, people are left wondering if the stock markets will operate on Wednesday. So, notably, trading across India’s stock exchanges will remain suspended today, November 5, as both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) observe a holiday for Guru Nanak Jayanti.According to…
Small SUVs have emerged as the biggest winners from the Centre’s recent tax cuts, with their share in total passenger vehicle (PV) sales climbing to 30.4 per cent in the first 10 months of 2025. In contrast, hatchbacks saw their share decline to 21.9 per cent over the same period, according to industry wholesale data…
On the eve of a closely watched Supreme Court hearing, US President Donald Trump warned that the case could determine the country’s very survival — labeling it as a “life or death” situation for America’s economic and national security.In a post on Truth Social, Trump said the hearing would decide whether the United States remains…
New Delhi: With plans to launch over two dozen new cars in India over the next few years, Hyundai on Tuesday said it is confident of getting back its No. 2 position in the domestic market as new models come in and it increases production capacity and offerings in the country, including electrics and hybrids.The…
MUMBAI: State Bank of India (SBI) reported a 10% rise in standalone net profit for the quarter ended Sept, aided by a one-time gain from the sale of its stake in Yes Bank and steady loan growth. During the quarter the bank’s total business crossed the Rs 100 lakh crore-mark. The bank’s standalone net profit…
MUMBAI: Days after filing a caveat before the Maharashtra charity commissioner, seeking a hearing before being ousted as a Tata Trusts trustee, Mehli Mistry said on Tuesday that he wished to “part ways” with the public charities, noting that “precipitating matters would cause irreparable harm to the reputation of Tata Trusts”.Mistry’s decision effectively de-escalates tensions…
The diversification strategy that India adopted after the US imposed a steep 50% tariff on Indian goods, is beginning to yield early gains.With exporters suddenly facing the higher duty, introduced in two phases: 25% from 7 August and doubled to 50% from 25 August, many have turned towards alternative markets across Asia, Europe and the…
SBI Q2 results: State Bank of India (SBI) reported a standalone net profit of Rs 20,160 crore for the second quarter of FY26, marking a year-on-year rise of 9.97%, as per the lender’s regulatory filing released on Tuesday.SBI stock hit a 52-week high in trade today after beginning the day at Rs 952.25. It closed…
Gopichand P Hinduja, the Hinduja Group Chairman, passed away in London on Tuesday according to a PTI report. The business world veteran was 85 years old.Gopichand, a member of the Hinduja family’s second generation, assumed the role of chairman after his older brother Srichand passed away in May 2023.He leaves behind his spouse Sunita, two…
Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, reported an 84% year-on-year rise in consolidated net profit to Rs 3,199 crore for the September quarter, boosted by a one-time gain from the sale of its stake in AWL Agri Business Ltd (formerly Adani Wilmar Ltd).However, excluding the exceptional gain of Rs 3,583…
Norway’s sovereign wealth fund, one of the largest investors in Tesla, has said it will vote against CEO Elon Musk’s proposed compensation package that could be worth up to $1 trillion over the next decade. The announcement comes ahead of Tesla’s annual shareholder meeting on Thursday, where the plan has become the most divisive agenda…
