A month into the Middle East conflict, its ripple effects are felt across economies worldwide. The crisis was triggered on February 28, when the United States and Israel launched joint strikes on Iran, setting off a chain of events that has tightened Tehran’s grip over the strategically vital Strait of Hormuz. This narrow sea passage,…
MUMBAI: The rupee breached the 94 level for the first time to close at 94.81 per dollar after hitting a record low of 94.84, declining about 4% since late Feb and 11% in the current fiscal year, marking its worst financial year performance in over a decade.Many analysts are forecasting that oil prices will remain…
The govt on Friday moved to cushion key industries from the ongoing gas supply disruption, boosting commercial LPG allocations by 20% to reach 70% of pre-crisis levels. The extra supply will prioritise labour-intensive sectors such as steel, automobiles, textiles, dyes, chemicals, and plastics, which are critical for broader economic activity.The move is aimed at stabilising…
A sharp divide has emerged at the ongoing World Trade Organisation (WTO) ministerial conference in Cameroon over the continuation of the e-commerce moratorium on customs duties, think tank Global Trade Research Initiative (GTRI) said on Saturday, reported PTI.It noted that while the US is pushing for a permanent extension of the moratorium, India and several…
“Energy can never be created, nor destroyed; it can only be changed from one form to another.”The first law of thermodynamics remains a quiet scientific truth despite a broken supply of crude oil due to the ongoing Middle East crisis. As geopolitical disruption tightens its grip around the Strait of Hormuz, that law reads less…
Vijaypat Singhania, former Raymond chairman, Padma Bhushan awardee and noted aviator, has passed away.He died in Mumbai at the age of 87.His son Gautam Singhania, chairman and managing director of the Raymond Group, announced the death on microblogging platform X.A company spokesperson said Singhania passed away “peacefully” and his last rites will be performed on…
India on Saturday said it has strongly opposed the China-led Investment Facilitation for Development (IFD) Agreement being incorporated into the World Trade Organisation (WTO) framework, flagging concerns over its systemic implications, PTI reported.The issue was raised at the ongoing 14th ministerial conference (MC14) of the WTO in Yaounde, Cameroon, where Commerce and Industry Minister Piyush…
Commercial operations at the Noida International Airport are expected to begin within 45 to 60 days, Civil Aviation Minister K Rammohan Naidu said on Saturday, indicating that the final preparatory steps are underway, reported PTI.The greenfield airport at Jewar in Uttar Pradesh was inaugurated earlier in the day by Prime Minister Narendra Modi, marking a…
Jubilant FoodWorks Ltd (JFL), which operates Domino’s Pizza and Dunkin Donuts in India, has reported constraints in LPG cylinder supplies across parts of its store network due to the ongoing West Asia war, according to ET.In a filing to the BSE, the company said, “Operational impact at this stage is limited and being actively managed….
Russia has begun selling physical gold from its central bank reserves for the first time in 25 years, as the government seeks to plug a widening budget deficit driven by sustained military expenditure, according to a report by Berlin-based news outlet bne IntelliNews.Regulatory data show that between 2022 and 2025, Russia sold gold and foreign…
