Business News - Page 27
Russia slashes 2026 growth forecast to 0.4% from 1.3% as sanctions, war pressures weigh on economy
Russia has cut its 2026 GDP growth forecast to 0.4 per cent from 1.3 per cent, citing sanctions pressure and post-war economic slowdown, while keeping its oil price assumption unchanged at $59 per barrel
India rejects sanctioned Russian LNG amid West Asia energy crunch, China keeps buying: Report
India has declined Russia’s offer to supply sanctioned LNG cargoes despite growing energy pressures from West Asia tensions, while China continues to buy both sanctioned and non-sanctioned Russian LNG
Rupee crashes to record low as fragile US-Iran ceasefire fuels oil price surge
The Indian rupee crashed to a fresh record low of 95.55 against the US dollar as fears over a fragile US-Iran ceasefire pushed oil prices above $105 per barrel, intensifying concerns over inflation and India’s import bill
India slashes royalty rates for oil and gas producers to boost domestic output amid West Asia crisis
India has cut royalty rates for crude oil and natural gas producers, including deepwater projects, to boost domestic output as rising crude prices and the West Asia conflict intensify pressure on the economy and rupee
Toyota to open third India factory in Maharashtra, production to start in 2029
Toyota will build a new 100,000-vehicle-a-year manufacturing plant in Maharashtra’s Bidkin Industrial Area, with production set to begin in 2029 as the Japanese automaker expands its India SUV and export strategy
US sanctions China-linked Iran oil network ahead of Trump-Xi summit
The US has sanctioned a China-linked network of firms and individuals accused of helping Iran export oil through Hong Kong, UAE and Oman ahead of Donald Trump’s crucial summit with Xi Jinping, as Washington intensifies pressure on Tehran over the Strait of Hormuz conflict
Trump backs temporary US gas tax cut as Iran war pushes fuel prices to near-record highs
US President Donald Trump backed a temporary suspension of the federal gas tax as fuel prices surged above $4.50 a gallon amid the Iran war and Strait of Hormuz disruptions, while Republicans moved to introduce legislation in Congress
Oil stays above $104 as Trump says Iran ceasefire is ‘on life support’
Oil prices stayed elevated with Brent above $104 a barrel after US President Donald Trump said the Iran ceasefire was “on life support”, raising fears of prolonged disruption in the Strait of Hormuz and fresh pressure on global energy markets
Musk, Apple’s Cook and Boeing CEO to join Trump’s China visit: Nvidia CEO not invited
US President Donald Trump will travel to China with top American CEOs including Elon Musk, Tim Cook and Kelly Ortberg as Washington and Beijing discuss trade, rare earth supplies and a possible record Boeing aircraft deal, while Jensen Huang has been left out of the delegation
Arithmetic of current account deficit: What's behind PM Modi’s 7-point austerity appeal
As oil prices remain volatile, foreign investors pull out record sums and imports continue rising, economists say the arithmetic of India’s widening current account deficit may explain the timing of PM Modi’s latest austerity-style appeal.
Sensex sinks 1,313 points in broad market selloff; Titan, SBI among top drags
Broad-based selling across consumer durables, PSU banks and oil & gas stocks wipes out nearly ₹6 lakh crore in investor wealth as volatility surges on Dalal Street.
RBI could hike rates twice this fiscal amid energy and climate risks, says HSBC
Report warns rising crude prices and climate-linked food inflation could complicate RBI’s balancing act between growth and price stability in FY27
China says it is ditching the dollar. Its hidden balance sheets suggest otherwise
While Beijing publicly champions de-dollarisation, research from the Council on Foreign Relations suggests China may still hold trillions in hidden dollar-linked assets through state banks and sovereign entities.
India’s forex reserves: What numbers show and why PM Modi is sounding alarm
India’s forex reserves stand at $690.69 billion, but recent declines in gold and foreign currency assets highlight rising external pressure as PM Narendra Modi calls for restraint on gold purchases, fuel use and foreign travel amid global volatility
Can Indians really cut gold buying? PM Modi takes aim at the country’s biggest import obsession
Prime Minister Narendra Modi’s call to avoid non-essential gold purchases underscores a growing dilemma for India’s economy, where policymakers want to curb imports and save foreign exchange even as households increasingly turn to gold as a financial safe haven amid global uncertainty
Rupee under pressure, slips past 95 per dollar on oil shock
The Indian rupee fell to a record low of 95.17 against the US dollar as surging oil prices, West Asia tensions and renewed foreign exchange concerns rattled markets. Prime Minister Narendra Modi’s call for restraint in fuel use, imports and travel added to investor caution
How dependent is India on imported gold? Here’s why PM Modi wants buying to slow
India imports more than 90 per cent of the gold it consumes every year, making the precious metal one of the country’s biggest import expenses after crude oil. Prime Minister Narendra Modi’s latest appeal to slow non-essential gold buying highlights growing concern over rising import bills, forex pressures and India’s dependence on overseas bullion
Sensex plunges over 900 points as oil spike, Iran tensions rattle Indian markets
Indian stock markets opened sharply lower on Monday, with the Sensex tumbling over 900 points and the Nifty slipping more than 1 per cent as surging crude oil prices, escalating US-Iran tensions and persistent foreign fund outflows rattled investor sentiment
China’s producer inflation hits nearly four-year high ahead of Trump-Xi summit in Beijing
China’s producer inflation surged to a 45-month high in April as the Iran war and disruptions in the Strait of Hormuz drove up global energy and commodity costs ahead of a key Trump-Xi summit in Beijing
Dollar gains ground as fragile US-Iran ceasefire sends oil soaring
The US dollar strengthened against major global currencies after strong American jobs data and rising tensions over the fragile US-Iran ceasefire boosted safe-haven demand, while oil prices surged above $104 a barrel amid ongoing Strait of Hormuz disruptions
Oil jumps over 3% as US-Iran peace talks collapse
Oil prices surged more than 3 per cent after US President Donald Trump rejected Iran’s response to a peace proposal, while disruptions in the Strait of Hormuz continued to tighten global energy supplies and stoke inflation fears
Aramco’s bumper profits may deepen pain for oil-importing economies
Saudi Aramco’s $32.5 billion quarterly profit surge highlights how the US-Iran conflict and Strait of Hormuz disruptions are boosting oil exporters while increasing inflation, trade and forex pressures on oil-importing economies
UN urges nations to move beyond GDP as measure of real progress
Global panel says economic growth alone no longer reflects inequality, climate risks, public trust and overall human well-being
Why America’s K-shaped economy is worsening as lower-income consumers buckle under inflation
Rising gas prices, slowing wage growth and mounting debt pressures are widening the divide between wealthy and struggling Americans
Anthropic says AI demand could fuel 80x growth in 2026 — and even it is struggling to keep up
Anthropic CEO Dario Amodei says surging demand for AI tools could drive the startup to 80x growth in 2026, forcing the company into a frantic race for computing power as it expands partnerships with SpaceX, Google and Amazon
India’s urban youth unemployment falls below global average in 2025: SBI Research
India’s urban youth unemployment rate declined to 9.9 per cent in 2025, remaining below the global average of 12.6 per cent , according to a new SBI Research report based on PLFS data.
America’s labour market may be slowing — but it is far from breaking
Fresh US labour market data suggest hiring momentum is slowing, but low layoffs, stable unemployment and resilient wage growth indicate the economy remains far from a downturn despite inflation pressures from the ongoing Iran conflict
‘People are running out of money’: Corporate America sounds alarm on Iran war spending fatigue
Corporate America is increasingly warning of consumer spending fatigue after the Iran war triggered a sharp rise in fuel and energy costs, forcing companies to rethink pricing, promotions and profitability strategies
Trump gives EU July 4 ultimatum on trade deal, threatens steeper tariffs
US President Donald Trump has given the European Union until July 4 to implement a delayed trade agreement, warning of steeper tariffs on European goods and automobiles if Brussels fails to comply
Japan real wages climb again despite global energy shock from Iran conflict
Japan’s real wages rose for a third straight month in March, strengthening expectations of a Bank of Japan rate hike even as the Iran conflict pushes up energy costs and slows service-sector growth