Business News - Page 22
India unlocks new gas-bearing zone in Rajasthan’s Dandewala field, boosting domestic energy push
India has discovered a new gas-bearing zone in Rajasthan’s Dandewala field, with state-run Oil India unlocking natural gas flow from the Sanu Formation as New Delhi pushes to boost domestic energy production and reduce import dependence
Saudi-US venture to build long-range attack drones in Riyadh amid Gulf security push: Report
Saudi and US defence firms are setting up a drone manufacturing facility near Riyadh to produce long-range attack drones modelled on Iran’s Shahed system, as Gulf nations boost military spending and strengthen regional deterrence capabilities
India prioritises household LPG supplies amid Hormuz disruption
India has restricted LPG cylinder access for piped gas users and cut supplies to some industries to protect household cooking fuel availability as disruptions in the Strait of Hormuz strain energy imports from West Asia
Heart disease breakthrough: Eli Lilly’s one-shot gene therapy shows promise in cutting ‘bad’ cholesterol
Eli Lilly said its experimental gene-editing therapy cut LDL, or “bad,” cholesterol by up to 62% in an early-stage trial, raising hopes for a one-time treatment to help prevent heart disease
India to revamp factory output calculations with renewable energy, utilities in focus
India plans a major overhaul of its industrial output calculations by expanding the IIP basket, adding renewable energy and utilities, and introducing a chain-linked framework to better capture shifts in the economy
Oil slips below $94 as US-Iran talks raise Hormuz reopening hopes
Oil prices fell sharply below $94 on Tuesday as reports of US-Iran talks raised hopes of reopening the Strait of Hormuz, easing geopolitical risk concerns and boosting optimism for resumed oil flows
India turns net importer of finished steel in April as imports jump 31%
Rising inbound shipments from China, South Korea and Japan push India into net steel imports despite growth in domestic production and exports
7-Eleven pioneer Toshifumi Suzuki dies: How a convenience store changed Japan forever
From fresh meals and banking services to disaster relief and parcel delivery, 7-Eleven has evolved into a critical part of daily life in Japan. The first shop opened in the country in 1974. Today, the convenience store giant operates nearly 22,000 outlets nationwide and more than 86,000 stores globally
Sensex surges over 1,000 points, Nifty tops 24,000 as Iran-US peace hopes lift global markets
Indian equities rallied sharply on May 25 tracking strong global cues, a stronger rupee, and easing geopolitical concerns after optimism emerged around a possible US-Iran understanding.
Fuel, fertiliser and forex: Sitharaman flags India’s three biggest economic pressure points
Finance Minister says volatile crude oil and fertiliser prices amid the West Asia crisis are putting pressure on India’s economy, while asserting that domestic indicators remain strong and resilient.
India plans fresh subsidy push for electric two-wheelers as PM E-Drive nears end: Report
India is preparing a fresh subsidy push for electric two-wheelers as the PM E-Drive scheme nears completion, with the government considering additional funding to extend incentives amid strong EV adoption and rising policy focus on clean mobility
India’s growth momentum accelerates as consumption, credit and rural demand surge
India’s economic engine roars back as rural demand, GST boom and cleaner banks signal strong growth
‘Biggest bubble yet’: Zoho’s Sridhar Vembu flags AI investment frenzy
Zoho founder Sridhar Vembu warned that the artificial intelligence boom may be the “biggest bubble yet”, cautioning that while AI technology is real and transformative, the scale of financial speculation around it could be excessive amid rising concerns over circular cloud revenue structures and inflated valuations
The ‘China Squeeze’: How China may be blocking poorer nations from industrialising
A major new paper by economists Shoumitro Chatterjee and Arvind Subramanian warns that China’s manufacturing dominance is no longer just hurting the West; it may now be shutting poorer countries out of industrialisation itself.
‘Clock is ticking’: ECB summons banks over AI-driven cyber risks, warns of fast-evolving vulnerabilities
The European Central Bank has warned major lenders that artificial intelligence is rapidly intensifying cyber security risks, urging banks to accelerate defences as AI tools shrink the time window to detect and fix vulnerabilities
RBI signals intervention readiness as rupee seen ‘undervalued’ after 6% slide: Report
The Reserve Bank of India (RBI) has signalled readiness to intervene in the foreign exchange market to ensure orderly currency movements, while Governor Sanjay Malhotra said the rupee appears undervalued after depreciating around 6 per cent since tensions in West Asia escalated
Toshifumi Suzuki, retail icon who built 7-Eleven empire dies at 93
Toshifumi Suzuki, the Japanese retail titan who transformed 7-Eleven from a small American convenience chain into a global retail empire, has died at 93, leaving behind a legacy that reshaped how millions shop worldwide
Sensex jumps over 850 points, Nifty nears 24,000 as oil prices tumble on Iran peace deal hopes
Indian stock markets opened sharply higher on Monday, with the Sensex surging over 850 points and the Nifty nearing the 24,000 mark after crude oil prices fell below $100 per barrel on hopes of a peace deal between the US and Iran
Oil prices tumble to two-week lows as US-Iran peace deal hopes ease supply fears
Oil prices hit two-week lows as optimism over a possible US-Iran peace deal and reopening of the Strait of Hormuz eased concerns over global crude supply disruptions
UK universities enter survival mode — and poorer students could lose the most
UK universities are cutting jobs, courses and research funding as falling overseas student enrolment deepens a sector-wide financial crisis, raising fears that poorer students could lose vital support
India fuel price hike: Petrol, diesel prices raised for fourth time amid Iran war-driven crude surge
India’s state-run fuel retailers raised petrol and diesel prices for the fourth time in May as higher global crude oil prices driven by the Iran war increased pressure on refiners and consumers
ECB signals higher inflation forecast as Iran conflict strengthens case for June rate hike
The European Central Bank is expected to raise its inflation forecasts next month as rising energy prices linked to the Iran conflict strengthen the case for a June interest-rate hike across the eurozone
'Terrific work': Marco Rubio says India has committed to buying $500 billion in US goods over 5 years
While on his visit to India, the US Secretary of State Marco Rubio announced on Sunday that India has committed to purchasing $500 billion in US goods over the next five years, focusing on energy, technology, and agriculture.
From inflation to bond chaos: 5 crises Kevin Warsh may inherit as Fed chair
Rising US Treasury yields, sticky inflation and market volatility are emerging as the first major challenge for incoming Federal Reserve Chair Kevin Warsh, with investors increasingly betting against rate cuts this year.
India’s forex reserves fall by $8 billion to $688.9 billion
RBI data shows forex reserves decline sharply amid rupee pressure and global uncertainty
RBI balance sheet expands 20.6 per cent; transfers Rs 2.87 lakh crore surplus to government
RBI sharply increases contingency risk buffer allocation amid global and domestic macroeconomic uncertainties; gross income rises 26.4 per cent in FY26.
Iran-Hormuz crisis: Oil shock fears mount as banks warn Brent crude could surge to $150–$200
Barclays, Citi and Wood Mackenzie have warned of escalating risks to global oil markets as disruptions around the Strait of Hormuz tighten supply, raise inflation concerns and threaten global economic growth.
RBI sells $2–3 billion to defend rupee, pushes currency past 96 per dollar: Report
The rupee rebounded sharply after the Reserve Bank of India sold an estimated $2–3 billion and intervened again on Friday, pushing the currency back above 96 per dollar
India considers scrapping met coke import duty as steelmakers flag supply crunch: Report
India’s Steel Ministry has urged the Finance Ministry to withdraw anti-dumping duties on low-ash metallurgical coke imports, citing supply shortages and rising prices that have increased costs for steelmakers
Germany to reduce air traffic tax from July, easing costs for airlines
Germany will cut its air traffic tax from July, rolling rates back to May 2024 levels to ease costs for airlines and improve competitiveness. The move follows industry criticism over high operating expenses and will reduce ticket levies across short-, medium-, and long-haul flights