Gold prices declined by over 2% on Monday, deepening their fall to nearly a four-month low, as intensifying tensions in the Middle East heightened concerns over inflation and reinforced expectations of tighter global interest rates. Spot gold dropped 2.5% to $4,372.86 per ounce as of 0238 GMT, marking its ninth straight session of losses. Earlier…
MUMBAI: Kotak Mahindra Bank said on Saturday that its wholly-owned subsidiary Kotak Mahindra Capital Company (KMCC) will sell close to 31% stake in Infina Finance – a capital market lending arm – to a group of investors including the estate of Rakesh Jhunjhunwala through Aryaman, Aryavir, and Nishtha Jhunjhunwala Discretionary Trusts, Derive Trading and Resorts,…
MUMBAI: The recent steep rise in the price of gold has catapulted the total estimated value of the yellow metal with Indian households to over $5 trillion, pegging it at about 125% of the country’s GDP. However, this massive gold purchase year after year “represents a conversion of financial savings (bank deposits) into physical assets….
NEW DELHI: The proposed India-EU free trade agreement (FTA) is expected to improve access to technology and create new opportunities for localisation and exports, Skoda Auto Volkswagen India MD and CEO Piyush Arora told TOI. “The FTA strengthens our strategy of developing products in India for the Indian market, while also creating opportunities for exports……
MUMBAI: Construction and engineering giant Larsen & Toubro, which has been operating in West Asia (WA) for over three decades, said a small portion of its regional projects has been affected by the ongoing geopolitical crisis. Deputy managing director Subramanian Sarma said 5% of L&T’s West Asia projects, mainly those near sensitive areas such as…
G Kishan Reddy (File photo) Union coal and mines minister G Kishan Reddy on Sunday said coal gasification will play a critical role in enhancing India’s energy security, reducing import dependence and supporting industrial growth.The renewed push has gained urgency amid the ongoing Middle East conflict, which has led to a surge in global energy…
Business conglomerate Vedanta Group has approached the National Company Law Appellate Tribunal (NCLAT), challenging the NCLT’s approval to Adani Group‘s bid for acquiring Jaiprakash Associates Ltd for Rs 14,535 crore. Anil Agarwal-led Vedanta Group was in the race to acquire Jaiprakash Associates Ltd (JAL) through an insolvency process, but the lenders in November last year…
Precious metal prices may stabilise and witness a mild recovery next week after a steep correction, although the upside could remain capped due to elevated interest rates and a firm US dollar, analysts said.Market participants are expected to track key macroeconomic indicators, including provisional manufacturing and services PMI readings from the US, UK and Japan,…
The government has stepped up efforts to streamline gas distribution and ease supply pressures, directing faster processing of city gas projects while increasing allocations of commercial LPG to key sectors amid a challenging geopolitical environment.The Petroleum and Explosives Safety Organisation (PESO) has instructed its offices to dispose of City Gas Distribution (CGD) applications within 10…
The Middle East conflict has entered its fourth week and the developments have sent shockwaves through global stock markets. For the upcoming week, investor sentiment is expected to remain sensitive to global developments, particularly the ongoing crisis and its impact on crude oil prices, in the holiday-shortened trading week ahead. Alongside geopolitical cues, movements in…