Investors were bracing for turbulence on Wall Street as the US government shutdown delayed key economic reports. Yet, defying expectations, the stock market surged on Friday, with both the S&P 500 and the Dow Jones Industrial Average hitting record highs.The rally isn’t just driven by Big Tech. Though companies like Nvidia, riding the AI boom,…
BENGALURU: OpenAI competitor Anthropic has appointed Rahul Patil as its chief technology officer. Patil joins the league of Indian-origin leaders at the helm of some of the world’s most influential technology companies.Patil succeeds co-founder Sam McCandlish, who is moving into the role of chief architect. Patil joins the AI company, which has developed Claude AI…
MUMBAI: RBI has proposed a revamp of rules on external commercial borrowings. The draft guidelines for 2025, the most extensive rejig since a Dec 2018 framework, replace uniform caps with limits tied to a borrower’s financial strength. Companies may raise up to $1 billion or 300% of their net worth (whichever is higher), while financial…
AI image used for representative purposes As Diwali 2025 approaches, gold and silver markets have shown remarkable performance, with increases of over 47% and 52% respectively this year. On the MCX, prices have exceeded Rs 1,18,000 per 10 grams, leading investors to speculate about further growth potential during the upcoming festive period.Analysts, quoted by Economic…
AI image used for representative purposes The potential free trade agreement (FTA) and investment protection pact between India and the EU could be a “game changer” amid rising tariffs and market access restrictions in other regions, said EU Ambassador Herve Delphin. Speaking ahead of the 14th round of FTA negotiations in Brussels, Delphin acknowledged that…
India’s services and manufacturing exports hold significant untapped potential for overseas investors, according to Franziska Ohnsorge, Chief Economist for South Asia at the World Bank.“I draw attention to two opportunities for investment. One is in services exports and the other is in goods exports because it’s the export industry rather than tradable industries that foreign…
The ministry of textiles has launched the ‘Swadeshi Campaign’ to boost domestic demand for handloom, handicrafts, and textile products across India. The initiative, which will run for six to nine months, aims to reposition Indian textiles as symbols of pride, style, and heritage, particularly among urban youth and Gen Z consumers. According to the government…
US President Donald Trump during a meeting with Pakistan Prime Minister Shehbaz Sharif and Field Marshal Asim Munir at the White House last month Advisers to Pakistan’s military chief, Asim Munir, have reportedly approached US officials with a proposal to construct and operate a port at Pasni on the Arabian Sea, offering Washington a strategic…
MUMBAI: RBI has recognised the Finance Industry Development Council (FIDC) as the official self-regulatory organisation (SRO) for NBFCs, aiming to tighten compliance, foster innovation, and boost sector development. The decision follows the June 19, 2024 press release inviting applications and the March 21 omnibus framework for SRO recognition. RBI received three applications, of which two…
Image used for representative purposes In the coming days, US authorities will conduct the nation’s largest coal auctions in over a decade, offering 600 million tonnes from state-owned reserves adjacent to strip mines in Montana and Wyoming. The leases, located in the Powder River Basin—the country’s most productive coal region—were expedited following a January executive…
