Calm in the oil markets proved short-lived as prices jumped nearly 3% in early Wednesday trade. The spike came after the United States launched military strikes against Iran in response to attacks on commercial vessels in the Strait of Hormuz, stoking fears that the fragile truce was beginning to unravel and threatening one of the…
Mumbai: Tata Power set out plans to nearly double net profit and lift revenue by more than half by FY2030, as the 116-year-old utility accelerates a capital-intensive push into clean energy and grid expansion. It is targeting Rs 10,000 crore in net earnings and Rs 1 lakh crore in revenue by the end of the…
Mumbai: The rupee strengthened by 43 paise to 94.97 against the US dollar, recording its sharpest single-session gain in three weeks, supported by lower crude prices, improved global risk sentiment, and dollar selling in offshore markets.The currency opened at 95.33 and traded in a range of 94.94 to 95.37 during the session, before ending around…
New Delhi: Top companies, including American giants, have cautioned USTR that its move to impose additional tariff of up to 12.5% on 60 countries, including India, will push up costs for consumers and businesses, with several of them seeking exemptions for specific products.“The practical effect would be to make it more expensive to build in…
NEW DELHI: Govt has asked the US Trade Representative (USTR) to reconsider its proposal to impose 12.5% additional tariff on Indian products for allegedly failing to act against forced labour, arguing that the move does not meet legal standards, lacks country-specific analysis and fails to establish causal link between absence of import prohibitions and its…
A sign for the Seattle office of Getty Images Inc., is shown Monday Getty Images, an American visual media company, has abandoned its planned merger with Shutterstock, ending the proposed $3.7 billion deal after deciding not to accept a UK competition regulator’s requirement to sell Shutterstock’s editorial business.The two companies unveiled the all-stock merger in…
Electricity generation from hydroelectric projects declined nearly 21%. (AI image) El Nino and the resultant weak monsoon has had an impact on India’s hydropower output, which has dropped by more than 20% in June. The dry weather, which is associated with El Nino, has meant that the water levels in reservoirs have gone down. This…
It seems to be a decade of stress tests for the Indian economy – Covid pandemic, Russia-Ukraine war, US trade policy uncertainty, and now the Middle East conflict. (AI image) The Indian economy has emerged as a picture of resilience amid the US-Iran conflict, with most economic indicators flashing green as the war shows signs…
Your next trip to Saudi Arabia just got simpler!Planning a holiday to Saudi Arabia may soon involve far less paperwork and fewer bookings. Instead of applying for a tourist visa, reserving flights and searching for accommodation separately, eligible travellers will soon be able to complete the entire process through a single integrated booking.Saudi Arabia has…
The Centre has put a stake in Cochin Shipyard Limited (CSL) up for sale, announcing an Offer for Sale (OFS) of 2.52% of the company’s paid-up equity. If the issue sees strong demand, the government can sell another 2.52% through a green-shoe option.The floor price for the OFS has been set at Rs 1,400 per…