Brent crude in London traded close to $79 a barrel on Thursday, taking its gain for the week to nearly 9%. (AI image) Iran has accelerated crude shipments, dispatching oil tankers carrying about 11 million barrels over the past 24 hours as tensions with the US escalate once again and President Donald Trump threatens to…
The latest trend reflects a new phase in the restructuring of India’s IT services industry, which is valued at over $315 billion. (AI image) Silent layoffs and job cuts are becoming the new norm in India’s technology and software services industry. As a result, as many as 35,000 jobs could be cut during the current…
The reduction in US government debt holdings has partly been offset by a rise in gold reserves. (AI image) As the Reserve Bank of India (RBI) continues its forex diversification strategy, India’s holdings of US Treasury securities are down to almost a six year low. As per US Federal Reserve data, India’s exposure to US…
India has poked holes in US’s plans to impose another tariff series linked to alleged forced labour, arguing that its own approach is inconsistent and the issue be dealt with through bilateral trade negotiations instead of unilateral action. Speaking before a panel of the US Trade Representative (USTR) earlier on Wednesday, Brij Mohan Mishra, joint…
NEW DELHI: The International Monetary Fund (IMF) and the Asian Development Bank (ADB) on Wednesday cautioned that higher oil prices due to the West Asia conflict will hurt most economies and also lowered India’s growth projections for the current financial year.IMF’s latest World Economic Outlook pegged India’s growth for 2026-27 at 6.4%, as against 6.5%…
NEW DELHI: Truecaller on Wednesday said users are blocking four lakh calls originating from 140-series and over 1.2 lakh calls from 1,600-series numbers everyday as it lobbied against whitelisting (verified number system).Since Oct, users have recorded 7.4 crore blocking actions on the two number series, while nearly four out of five calls from them are…
NEW DELHI: A scorching summer has spurred demand for seasonal appliances, putting India’s consumer durables sector on track to post a robust double-digit growth in the first quarter this fiscal year, one of its strongest quarterly performances in recent years. Analysts expect the sector to report over 20% year-on-year revenue growth in the June quarter,…
NEW DELHI: Giving a push to its ambitious coal and lignite gasification programme, govt Wednesday floated a request for proposal (RFP) inviting companies to set up projects under its Rs 37,500-crore incentive scheme.Launched in May, the scheme aims to support the gasification of 75 million tonnes (MT) of coal and lignite by 2030 to produce…
US stocks today: Oil jumps nearly 5%, shares tumble as Trump declares Iran ceasefire ‘over Global stock markets fell and oil prices surged on Wednesday after US President Donald Trump cast doubt on the temporary truce in the Iran conflict, raising fears that renewed fighting could disrupt global energy supplies.Wall Street opened lower after Trump…
India’s growth is supported by strong momentum in private consumption and services activity. (AI image) The International Monetary Fund (IMF) on Wednesday marginally lowered the growth projections for India to 6.4% from 6.5% earlier as part of its World Economic Outlook update for the current year. However, it raised the GDP growth projections for the…