Business

The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion fund facility to support member countries affected by the economic fallout of the ongoing Middle East conflict, PTI reported. India is the second-largest shareholder in the China-led multilateral lender after China.The Beijing-headquartered bank said the newly launched Energy, Food Security and Economic Resilience Facility…

Global crude oil prices could surge to as high as $200 per barrel in a worst-case scenario if the Strait of Hormuz remains closed through the end of 2026, according to a report.As per a report by Wood Mackenzie, a prolonged disruption in the strategic waterway could trigger a severe global energy and economic crisis.The…

Asian stock markets moved higher on Friday as optimism surrounding ongoing US-Iran negotiations supported investor sentiment, although rising crude oil prices continued to keep inflation worries alive. Market confidence remained upbeat for a second consecutive session amid hopes that diplomatic efforts could help restore stability to global energy supplies following weeks of uncertainty caused by…

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Kolkata: ITC Ltd has reported a 5% year-on-year rise in standalone net profit from continuing operations for the fourth quarter of the last fiscal, at Rs 5,113.3 crore. The growth came despite a higher GST rate and a steep increase in excise duties, while West Asia conflict weighed on profitability.The Kolkata-headquartered company had seen a…

New Delhi : Quick commerce platform Zepto plans to launch its Rs 11,000-crore IPO in July, people familiar with the matter said on Thursday. If the listing goes through, Zepto will join rivals Zomato and Swiggy, which are already listed on stock exchanges. The startup secured approval for its maiden public issue from Sebi earlier…

Oil prices climbed on Friday as investors remained uncertain about the prospects of a breakthrough in ongoing US-Iran peace negotiations, while concerns over supply disruptions through the Strait of Hormuz continued to support the market.Brent crude futures rose $2.38, or 2.3 per cent, to $104.96 a barrel by 0034 GMT, while US West Texas Intermediate…

MUMBAI: Tata Sons chairman N Chandrasekaran is set to present a detailed roadmap of the company’s loss-making new businesses at a crucial board meeting on May 26, as he moves to defuse tensions with principal shareholder Tata Trusts chairman Noel Tata.His presentation will cover Tata Digital and Air India, ventures that have absorbed significant investment…

NEW DELHI: LG Electronics India reported an 8.2% decline in its net profit to Rs 692.7 crore for the March quarter from a net profit of Rs 754.5 crore during the Jan-March period a year ago. Its revenue from operations rose 8.1% to Rs 8,053.6 crore in the March quarter of FY26. It was Rs…

MUMBAI: Banks have made a host of suggestions on how govt could attract $30–$50bn foreign exchange, most of them involving the central bank subsidising the hedging cost of the foreign exchange.While the interest rate differential between India and the US is far less than the 4–5% in 2013, bankers say that the macroeconomic fundamentals are…