India, world’s third-largest oil importer and consumer, has waived excise duty on blended petrol. The exemption covers E22, E25, E27 and E30 fuel blends, which contain varying proportions of motor spirit and ethanol. As per the finance ministry’s notification, these blends consist of 78%, 75%, 73% and 70% motor spirit mixed with 22%, 25%, 27%…
US inflation rises to highest level in nearly 3 years The consumer price index increased 4.2% in the 12 months through May, boosted by surging prices for energy products amid the West Asia conflict, and giving more ammunition for the Federal Reserve to keep interest rates unchanged into 2027. This was the largest gain since…
MUMBAI: Banks have begun passing on benefits from the Reserve Bank of India’s free hedging window to non-resident customers, pushing up Foreign Currency Non-Resident (Bank) deposit rates and, in the process, reopening a tidy arbitrage between offshore borrowing costs and onshore returns.Meta taps RIL for AI data centre capacityMeta taps RIL for AI data centre…
MUMBAI: Tata Consumer Products, which began as a tea joint venture with British firm Finlay, has crossed Rs 20,000 crore in annual revenues, marking what chairman N Chandrasekaran called the completion of its transformation into a multi-category consumer goods group.The company has built its newer “growth” businesses —packaged foods, pantry staples and ready-to-drink beverages —…
NEW DELHI: Government plans to raise the issue of the US decision to impose a 100% duty on patented drug imports from India, seeking tariff parity to safeguard the interests of domestic manufacturers. The matter is expected to figure during the trade negotiations with Washington, with New Delhi seeking tariff concessions in line with the…
The makers of ‘NBK111’ treated fans to a special surprise on the occasion of Nandamuri Balakrishna’s birthday by unveiling the film’s first major glimpse. Titled “Entry Of An Era,” the video features the introduction to the film’s world and Balakrishna’s powerful character.The glimpse was released with the tagline, “No more vintage, only new age”. The…
Global crude benchmarks jumped over 2% on Thursday as tensions in the Middle East escalated once again, with Iran announcing that the Strait of Hormuz is “closed to all vessels.” Tehran’s move came after the US military launched fresh strikes on multiple sites in Iran.Brent crude futures rose $2.30, or 2.47%, to $95.40 a barrel,…
MUMBAI: After months of resilience, there are early signs of investing fatigue among retail mutual fund investors. In May, as the stock market showed extreme volatility—thanks to the war in West Asia—net inflows into equity funds fell to the lowest level in more than a year at, Rs 22,908 crore. On a month-on-month basis, this…
BENGALURU: Rajesh Exports chairman Rajesh Mehta, who is under Sebi’s scanner over allegations that the company inflated its revenues by Rs 15.2 lakh crore between FY21 and FY25, said he does not intend to challenge the regulator’s interim order and is fully cooperating with the investigation.At 4.2%, US inflation logs biggest gain in 3 yearsAt…
Omar Artan and FIFA chief Gianni Infantino During a press conference on Wednesday before the opening match of the expanded 48-team World Cup, FIFA President Gianni Infantino addressed the case of Somali referee Omar Artan. Artan was set to become the first Somali official to work at a World Cup. However, he was denied entry…