Oil prices rallied on Monday after conflict between the United States and Iran intensified, raising fresh concerns over crude supplies from the Middle East as shipping through the Strait of Hormuz came under increasing pressure.Brent crude climbed above $90 a barrel, rising 2.30% to $90.13, while US benchmark WTI crude gained 2.07% to $84.20. The…
MUMBAI: For local consumers, the India-UK Comprehensive Economic and Trade Agreement (CETA) means more choices on retail shelves as new British brands are expected to enter the market. In fact, initial queries and conversations have already started.But the deal may not immediately translate into steep price cuts for shoppers across the board-the depreciation of rupee…
Punjab National Bank (File photo) NEW DELHI: State-run Punjab National bank, the second largest public sector lender, is targeting a mop up of $2.5 billion from Foreign Currency Non-Resident Bank deposits and has raked in $425 million so far.“We are getting major traction from the UK, Dubai and GIFT City. The demand is quite good,”…
NEW DELHI: With the fertiliser subsidy, other West Asia related spends and initiatives, such as the electronics manufacturing push through schemes for semiconductors and mobiles adding to the Centre’s expenditure, finance minister Nirmala Sitharaman may seek Parliamentary approval for additional spending, without losing sight of the overall fiscal situation.The discussion around the need for Parliamentary…
NEW DELHI: Five of India’s 10 most-valued companies collectively added Rs 1.54 lakh crore to their market capitalisation last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer after strong quarterly earnings helped lift investor sentiment amid a positive run in domestic equities.The gains came as the benchmark BSE Sensex advanced 582.06 points…
India’s power sector is expected to stay charged through FY27 as surging electricity demand, record peak power consumption and continued capacity additions fuel growth, a report by 360 ONE Capital said.The brokerage said that electricity consumption is expected to remain resilient as industrial and commercial activity gathers pace, creating favourable conditions for power utilities. Companies…
Left image is for representation purpose only (AI-generated) There was a time when calling customer care almost always meant waiting to speak to a person. Today, that experience looks very different. Whether you are tracking a delayed parcel or reporting a failed payment, chances are your first conversation is with a chatbot or an AI-powered…
MUMBAI: IDBI Bank reported a standalone net profit of Rs 2,007.36 crore for the quarter ended June 30, 2026, up 3.3% from Rs 1,943.17 crore a year earlier, supported by lower provisions despite weaker operating profit. On a consolidated basis, net profit rose 6.9% to Rs 2,127.14 crore from Rs 1,987.44 crore a year ago.Net…
MUMBAI: Punjab National Bank reported a standalone net profit of Rs 5,253 crore for the quarter ended June 30, 2026, up 213.6% from Rs 1,675 crore a year earlier, aided by a sharp decline in tax outgo despite lower non-interest income. The bank reported a consolidated net profit of Rs 5,921 crore, up 228.4% from…
India’s banknotes may soon get a plastic makeover.The country is moving ahead with its plans to explore polymer banknotes as the Reserve Bank of India‘s currency printing subsidiary has invited global and domestic manufacturers to bid for the specialised material needed to print such notes. Initially, the notes are likely to be in the lower…