Cash payments at toll plazas across national highways will be discontinued from April 10, according to a government notification, marking a shift towards a fully digital tolling system. The move follows an earlier proposal by the government to phase out cash transactions at all National Highway fee plazas. The transition has been planned to build…
MUMBAI: The rupee recorded its strongest recovery in 13 years, rising 173 paise to close at 93.1 from Tuesday’s 94.83, after RBI tightened rules to curb speculative bets and forced a sharp unwinding of dollar positions.However, with a fresh round of US bombing in Iran post market hours, which resulted in global oil prices surging…
NEW DELHI: Tata Sons chairman N Chandrasekaran has asked over 30 CEOs and managing directors of group companies to brace for a tougher business environment, as the war in West Asia is disrupting supply chains, sources said.At a review meeting on the war’s implications on Thursday, Chandrasekaran told top executives that more than 10,000 Tata…
Oil prices rose sharply on Friday as tensions in the Middle East intensified, with the US launching more strikes on Iran, fueling concerns over the energy supply flows through the Strait of Hormuz. Brent crude, the global benchmark, climbed 7.8% to $109.03 per barrel after soaring beyond the $111 per barrel mark. At the same…
MUMBAI: Staging a spirited recovery, stock markets pared early losses to close higher on Thursday, sensex rising by 185 points and Nifty settling above 22,700 on strong value buying in IT and banking shares and a sharp rebound in the rupee.Rebounding more than 2,000 points from the day’s low, sensex finally settled higher by 185…
The average long-term US mortgage rate has climbed for the fifth consecutive week, reaching its highest level in nearly seven months and adding to affordability challenges for homebuyers during the crucial spring housing season, according to AP.The benchmark 30-year fixed mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said. A…
The Reserve Bank of India has allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports beyond immigration or customs checkpoints, according to PTI. Earlier, such counters were permitted only to buy Indian rupees from non-residents and sell foreign currency to them. “On a…
NEW DELHI: In a U-turn, the civil aviation ministry Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost side pressure since the Iran war began, airlines had warned this move to curb ancillary revenue will lead to additional fare hikes.The aviation ministry had on…
New Delhi: Centre will make three major NH stretches passing through Delhi largely signal free to reduce congestion and travel time, the road transport ministry informed the Lok Sabha on Thursday. While the NH stretches from Ashram to Badarpur, Mehrauli to Gurgaon and Punjabi Bagh to Tikri Border will be mostly signal free by building…
The government has asked oil refineries to divert part of the feedstock used for cooking gas (LPG) towards petrochemical units, as industries grapple with acute raw material shortages triggered by supply disruptions amid the West Asia conflict, according to PTI.The Ministry of Petroleum and Natural Gas on April 1 directed refiners to allocate a portion…