India’s foreign exchange reserves rose by $4.496 billion, reaching $702.28 billion for the week ending October 17, majorly driven by an increase in the value of gold reserves, the Reserve Bank of India said Friday.Last week, the overall reserves had increased by $2.176 billion to $697.784 billion, reported PTI.Foreign currency assets (FCA), the largest part…
US inflation hits 3% (AP) US inflation remained elevated in September, fueled by a surge in gas prices, even as rent growth slowed, reflecting a mixed picture for consumers in an economy with steady growth but sluggish hiring.According to the labor department report, cited by AP, consumer prices rose 3% from a year earlier—the highest…
Social security benefits to rise 2.8% (AP) The Social Security administration on Friday announced that its benefits will increase by 2.8% in 2026, giving retirees an average monthly boost of more than $56. The rise reflects moderating inflation after several years of higher cost-of-living adjustments (COLA).The increase will take effect in January for nearly 71…
BSE’s stock has staged a strong recovery after weeks of anxiety over regulatory reforms, gaining 15% in a month as concerns over the weekly options expiry rule fade and traders return. The stock jumped nearly 2% to Rs 2,533.70 on Thursday before settling at Rs 2,486.50, raising doubts about the rally’s sustainability.Amid speculation that the…
RIL responds to US, EU sanctions on Russian crude NEW DELHI: Reliance Industries Ltd (RIL) on Friday said it is assessing the impact of the latest sanctions imposed by the United States and the European Union on Russian oil companies.In an official statement, a company spokesperson said RIL will comply with guidelines on the import…
The central bank has added 600 kilograms to its gold reserves this fiscal year. (Representative image) In a strategic shift, India is betting on gold rather than dollar-based assets for its foreign exchange reserves. The Reserve Bank of India (RBI) is showing a preference for gold over dollar-based investments, data suggests. As of October 10,…
Union commerce and industry minister, Piyush Goyal held a series of meetings with top business leaders in Germany to strengthen trade and business cooperation between the two countries.The minister is on an official visit to Berlin from October 23, aimed at deepening India’s economic engagement with Germany. Piyush Goyal Highlights India’s Growth Amid Global Trade…
Gold-backed ETFs experienced their most substantial single-day tonnage withdrawal in five months, indicating that institutional investors are reducing their positions. (AI image) Why are gold prices falling? After a record-breaking run, gold prices seem to be taking a breather with a significant 3% drop this week in the international markets. The yellow metal is set…
Target Corporation plans to lay off about 1800 corporate employees in its first major cutback in almost ten years. This change aims to improve stagnant sales and make its operations more efficient.Incoming CEO Michael Fiddelke announced this decision in a memo to employees on Thursday.It comes at a time when Target’s share price has lagged…
Representative image (AI-generated) Asian stock markets remained mostly high on Friday after the White House confirmed that US President Donald Trump will meet Chinese leader Xi Jinping next week.The announcement eased some uncertainty over trade tensions between the world’s two largest economies, although the likelihood of a major trade deal remains unclear.Chinese markets also gained…
Representative image (AI-generated) Indian fertiliser companies are preparing to set up a urea manufacturing facility in Russia, a move that is likely to be announced during Russian President Vladimir Putin’s visit to India in December. This would be India’s first fertiliser venture in Russia.The plant will use Russia’s abundant ammonia and natural gas reserves, ensuring…
Representative image (AI-generated) MUMBAI: Private equity investor Blackstone will pick up a 9.99% stake in Federal Bank for Rs 6,196.51 crore. The investment will be made through Asia II Topco XIII Pte Ltd, a Blackstone-controlled entity that handles the firm’s strategic transactions in India. Federal Bank’s board cleared the proposal on Oct 24, 2025. It…
India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases. At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade…
Representative image (AI-generated) Domestic steel prices have fallen to a five-year low, trading between Rs 47,000 and Rs 48,000 per tonne, based on BigMint market data.Several factors have influenced these prices. Rising imports, weak export demand and oversupply in the global market all contribute to the decline.Hot rolled coil (HRC) is priced at about Rs…
Alaska airlines (File photo) Alaska Air Group on Thursday lowered its 2025 profit forecast due to rising fuel costs and operational challenges. The airline said adverse weather and other disruptions have further pressured its profit margins.The airline also projected fourth-quarter profit well below analysts’ expectations.Fuel costs have surged due to refinery outages on the US…
Elon Musk-owned Starlink is preparing to establish 9 gateway earth stations across India as it gears up to launch its satellite communication (satcom) services in the country.The proposed stations will be located in Mumbai, Noida, Chandigarh, Hyderabad, Kolkata and Lucknow.“The company has applied for 600 gigabit per second capacity over India through its Gen 1…
Donald Trump, Mark Carney (AP) US President Donald Trump announced late Thursday that he is halting “all trade negotiations” with Canada, citing recent television ads protesting US tariffs as “egregious behavior” intended to influence American court decisions.“The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald…
The White House press secretary Karoline Leavitt on Thursday (local time) claimed that India had scaled back Russian oil imports at US President Donald Trump’s “request” and China was doing the same.“If you read the sanctions and look at them, they’re pretty hefty. I saw some international news out of China this morning that they’re…
MUMBAI: SBI received two awards from Global Finance, New York – World’s Best Consumer Bank 2025 and Best Bank in India 2025 – at the Global Finance awards held during the World Bank and IMF annual meets. The recognition, according to the bank, reflects its progress in digitalisation and financial inclusion. Source link
MUMBAI: India’s outward remittances for overseas education fell 24% year-on-year to about $0.32billion in Aug 2025 from $0.42billion in Aug 2024. The figure was the lowest for Aug since 2017, a month that typically sees higher remittances at the start of the academic season in US.“The 24% fall in education remittances highlights how closely India’s…
