Business News - Page 29

Biocon’s next chapter: Kiran Mazumdar-Shaw names niece Claire as heir in 5-year transition plan
Phased leadership transition to see Claire Mazumdar move from board roles to the top job, signalling continuity at India’s leading biotech firm

India set for reform sprint to address economic risks as govt gets election-free corridor: Report
Kotak flags a 10-month election-free window as New Delhi’s best shot to tackle subsidies, trade strategy and stalled reforms amid rising macro pressure

Iran’s oil ‘storage crunch’ unlikely to trigger shutdowns — markets may be overplaying the risk
Iran’s oil storage crunch may not trigger immediate shutdowns, as domestic refining, floating storage and gradual output cuts give Tehran more time than markets assume

Rupee hits record low as renewed West Asia risk rattles markets
The Indian rupee fell to a record low against the US dollar as renewed West Asia tensions and a surge in crude oil prices triggered investor outflows and heightened concerns over inflation and India’s external balances

IMF sounds alarm: Prolonged West Asia war could lead to ‘much worse’ global outlook
The IMF warns the global economy could face a “much worse” outlook as the West Asia conflict drives oil prices higher, raising inflation risks and threatening growth

India pushes ADB for bigger firepower, faster reforms as global risks mount
India has urged the Asian Development Bank to expand its lending capacity and accelerate structural reforms, warning that exposure limits could constrain growth as global uncertainties intensify financing needs across developing economies

Musk settles SEC case over Twitter stake for $1.5 million, avoids investor payback
Elon Musk settles SEC lawsuit over delayed Twitter stake disclosure for $1.5 million, avoiding a $150 million repayment claim as regulators soften stance on enforcement

Crude spikes as US-Iran exchange fire, ceasefire under strain in Hormuz
Oil prices surge as US-Iran tensions escalate, raising fresh concerns over supply disruptions in the Strait of Hormuz, a critical global energy route

SEBI to issue advisory on market vulnerabilities, urges proactive cyber risk mitigation
Chairman Tuhin Kanta Pandey says market participants must stay alert to emerging threats like “Mythos” and use available tools to strengthen resilience

India’s remittance strength faces West Asia risk as report flags migrant concerns
Morgan Stanley flags rising Gulf uncertainties as remittance inflows hit $138 billion and calls for reintegration support for returning Indians

India resumes wheat exports after four years; high prices may cap global demand
Shipments restart amid strong harvest and policy shift, but cost disadvantage limits large-scale overseas sales

Bitcoin surges past $80,000 to three-month high as risk rally builds amid liquidity tailwinds
Bitcoin crossed $80,000 to hit a three-month high, supported by renewed institutional inflows, US regulatory clarity signals and a broader risk-on rally across global equities and crypto markets

India returns to Africa stage after 11 years: Trade expansion or strategic counter to China?
India is set to host the fourth India-Africa Forum Summit after more than a decade. The summit will focus on trade expansion, investment, innovation and strategic cooperation, even as questions grow over whether New Delhi is positioning itself as a counterweight to China in the region

Global oil squeeze: 4.8 mbpd deficit to trigger demand drop, support OMCs
West Asia disruptions tighten supply; rising prices expected to trigger demand destruction and ease pressure on oil marketing companies

Sensex jumps over 900 pts, Nifty tops 24,200 as cooling oil prices lift sentiment
Indian equities rallied sharply on Monday, with the Sensex jumping over 900 points and the Nifty crossing 24,200, driven by easing crude oil prices and strong buying in auto and FMCG stocks

Spirit’s ‘Hail Mary’ fails: Trump’s $500 million bailout blocked by creditors, forcing shutdown
Spirit Airlines shuts down after creditors block a $500 million Trump-backed bailout, derailing last-ditch rescue talks and exposing the limits of state intervention in a debt-laden, fuel-hit aviation market

Chinese firm pulls out of Pakistan's Gwadar, flags unworkable business environment
A Chinese firm shuts its Gwadar Free Zone unit citing an unworkable business environment, highlighting persistent operational hurdles and raising fresh concerns over investor confidence in CPEC-linked projects

Oil slips but stays elevated as US moves to unblock Hormuz traffic
Oil prices remained elevated above $100 per barrel despite a marginal dip, as US plans to unblock the Strait of Hormuz eased supply fears but stalled Iran talks kept the geopolitical risk premium intact

Rs 1.31 crore relief in Rs 23 crore scam: RBI orders banks to compensate digital arrest victim
The RBI has ordered five banks to pay Rs 1.31 crore to a victim of a Rs 23 crore digital arrest scam, as the Supreme Court examines wider accountability and systemic lapses in India’s banking system

Is Toyota really building three new assembly plants in Maharashtra?
What Toyota’s rumoured plan of expanding production in the country could mean for India’s manufacturing ecosystem

Why is Jeff Bezos’ Met Gala sponsorship leading to boycott calls?
Jeff Bezos and Lauren Sánchez Bezos are lead sponsors and honorary chairs of the May 4 Met Gala at the Metropolitan Museum of Art. Activist group ‘Everyone Hates Elon’ has led boycott campaigns, while New York City Mayor Zohran Mamdani and celebrities like Zendaya are skipping the event

Is it a good time to buy property in Dubai amid the US-Iran war?
In 2025 alone, Indians accounted for nearly 22 per cent of total transactions, rising to as much as 28 per cent in some off-plan segments.

UPI sets new record in FY26 with 24,162 crore transactions worth Rs 314 lakh crore
Government data highlights surge in digital payments adoption across urban and rural India, with strong momentum continuing into FY27

India clocks record GST collections of Rs 2.43 trillion in April, signals steady consumption trend
India’s GST collections hit a record Rs 2.43 trillion in April, rising 8.7% year-on-year, reflecting strong year-end economic activity and resilient consumption trends despite recent tax cuts

Opec cracks as UAE exits; near-term oil surge, long-term boost for India
Break from the oil cartel could weaken supply discipline, trigger near-term volatility, but pave the way for softer crude prices and gains for Indian refiners.

India remains on US IP watch list amid red flags on patents and tariffs
India remains on the US IP priority watch list as concerns over patents, tariffs, enforcement gaps and market access persist despite incremental reforms

Japan’s perfect financial storm: Yen crisis, bond meltdown & oil shock collide
Currency intervention, a historic shift in bond yields and a global energy shock are converging—pushing Japan into a high-risk economic phase with global

Trump widens retirement account access for millions of US workers
US President Donald Trump on Friday signed an executive order aimed at expanding access to retirement savings accounts for millions of Americans whose employers do not offer workplace retirement plans

‘John Doe’ in JPMorgan case revealed: Complainant in abuse case against Lorna Hajdini has South Asian roots
A former JPMorgan Chase employee who filed a sensational sexual harassment lawsuit against a senior executive has been identified as a person of South Asian descent, according to a report by the New York Post

Toyota plans three new plants in India to triple capacity to 1 million units: Report
Toyota Motor plans to build three new plants in Maharashtra, aiming to triple India production capacity to 1 million units by the 2030s, as it sharpens focus on export markets in West Asia and Africa
