Business News - Page 7
Saudi Arabia's biggest oil price cut in 26 years signals a new battle for Asian market share
Saudi Arabia has slashed the price of its flagship Arab Light crude for Asian buyers by the biggest margin in at least 26 years as rising global supplies and higher OPEC+ output intensify competition for market share. The move could benefit major importers such as India through lower energy costs
Walmart slashes prices on beef, groceries and household staples as Trump hails affordability push
Walmart is cutting prices on thousands of products, including ground beef, groceries, beverages and household essentials, to help consumers cope with inflation. President Donald Trump welcomed the move, calling on other retailers to follow suit as the administration intensifies efforts to bring down food prices
A little-known payments network has caught the attention of Wall Street. Here's why
America's biggest banks are reportedly exploring the acquisition of Fiserv's little-known debit payments networks, STAR and Accel. Here's why these overlooked assets could help lenders bypass federal debit-fee caps and reshape the US payments industry
Samsung expects Q2 profit to surge 19-fold to a record high as AI memory boom lifts chip prices
Samsung Electronics expects a 19-fold jump in second-quarter operating profit as AI-driven demand continues to lift memory chip prices, extending its record earnings streak
More than trade: Why long-term strategic ties will dominate Modi's Indonesia visit
Trade, investment, critical minerals and supply chain resilience expected to shape talks during PM Modi's visit to Indonesia
India's auto retail sales hit record high in June 2026, up 21.83% YoY: FADA
Passenger vehicle, EV and two-wheeler sales powered the strongest-ever June for India's automobile retail industry, while dealers cautioned automakers against rising inventory levels.
Morgan Stanley sees India's market valuation decline as temporary, expects equity rebound
Global brokerage says concerns over India's long-term growth are overstated; stronger economic momentum and earnings could drive a re-rating of domestic equities.
Will Japan step in as the yen hovers near a 40-year low?
Currency remains under pressure as widening US-Japan rate gap fuels intervention fears; markets await Fed minutes for policy clues
Why gold could be the biggest winner of the next monetary era
Reserve managers accelerate bullion purchases amid geopolitical risks, de-dollarisation push and inflation concerns; 45% plan to buy more gold over the next year
'No reason for Rapido to exist...': CEO says India's food delivery market must more than double
Rapido CEO Aravind Sanka says India's online food delivery market must grow to 100 million users for the company's strategy to succeed. Here's why the startup believes affordability and logistics — not commissions — will disrupt the Zomato-Swiggy duopoly
India's car buyers shift gears as fuel prices rise. CNG, EVs and hybrids hit record 40% share
India's retail car sales rose 28.6 per cent in June, with CNG, hybrid and electric vehicles capturing a record 40.4 per cent market share as rising fuel prices pushed buyers towards lower-cost mobility options
India secures fertiliser supplies as 15 ships cross Hormuz. What it means for farmers
India says 15 fertiliser ships have crossed the Strait of Hormuz after tensions in West Asia eased, strengthening supplies ahead of the kharif season. Here's why it matters for farmers and India's food security
Trump expects Nato allies to spend more — or face consequences. Here's what it means
Donald Trump has warned NATO allies to rapidly increase defence spending or face consequences, including reduced US military cooperation and possible troop withdrawals. Here's why the warning matters and what it could mean for the alliance
UPI is just the start: Indonesia wants India's entire digital public infrastructure playbook
Indonesia wants much more than UPI. As Prime Minister Narendra Modi visits Jakarta, the two countries are expected to deepen cooperation on India's digital public infrastructure while advancing defence ties, including a potential BrahMos missile deal that could reshape Southeast Asia's security architecture
OPEC+ pumps more oil as Hormuz reopens. Here's why crude prices are falling
Oil prices slipped after OPEC+ approved another production increase and exports through the Strait of Hormuz resumed. Here's why traders are now focusing on rising supply, weaker demand and the outlook for global crude markets
India-Israel investment pact is now in force: What does the new BIA mean for businesses and Indians?
India and Israel's Bilateral Investment Agreement (BIA) has officially come into effect, replacing the 1996 treaty with a modern framework for investment protection. Here's how the agreement could boost trade, technology, defence, startups, foreign investment and economic cooperation while benefiting businesses and Indian professionals alike
Mukesh Ambani, Sunil Bharti Mittal join global AI body to shape responsible AI
Reliance Industries chairman joins 44-member global panel with leaders from Amazon, Microsoft, NVIDIA and Qualcomm to shape AI governance, digital inclusion and responsible artificial intelligence worldwide.
Food inflation may average 6% in FY27 as weak monsoon threatens crop output: CareEdge Ratings
CareEdge projects CPI inflation at 5%, rupee at 92-93 per US dollar and 10-year G-sec yields at 6.8-6.9% amid rainfall deficit and global uncertainties
Record EU-US trade masks growing tariff pain for key industries
Goods trade between the European Union and the United States touched a record €875 billion in 2025, but a new study says the headline figures conceal mounting pressure on key industries, particularly the automotive sector.
India's services PMI slips to 17-month low in June as demand and hiring cool
India's services sector growth eased to a 17-month low in June as softer demand and slower hiring weighed on business activity, the latest PMI survey showed.
India's heatwave pushed electricity demand to new highs. Here's how the grid coped
India's electricity generation rose 10.4 per cent in June as an extended heatwave and weak monsoon drove record cooling demand. Coal-fired plants helped meet peak consumption, while renewable energy reached a record 19 per cent share of the power mix
Trump looks to Musk to donate SpaceX stock as Big Tech lines up behind child investment programme
US President Donald Trump says he expects Elon Musk to donate SpaceX stock to the new "Trump Accounts" programme as major technology companies and business leaders line up behind the child investment initiative launching on July 4
'There's nothing wrong': Trump dismisses criticism over family's crypto profits
US President Donald Trump defended his family's cryptocurrency profits after financial disclosures revealed a crypto windfall exceeding $1.4 billion. Dismissing allegations of conflicts of interest, Trump insisted there was "nothing illegal" about the earnings, even as critics questioned the ethics of a sitting president profiting from digital asset ventures
Japan's services sector rebounds in June, but rising costs keep businesses cautious
Japan's services sector returned to growth in June as domestic demand strengthened, but rising input costs, weaker export business and geopolitical uncertainty kept business confidence subdued, according to the latest S&P Global PMI survey
Canada, Philippines target free trade pact by year-end as Carney expands Indo-Pacific push
Canada and the Philippines have agreed to conclude a free trade agreement by the end of 2026 while launching a new strategic partnership covering defence, energy, labour, tourism and Indo-Pacific security as Ottawa accelerates trade diversification beyond the US
Hong Kong shrugs off sceptics as assets under management hit record $5.4 trillion
Hong Kong's assets under management climbed 20 per cent to a record HK$42.2 trillion in 2025, fuelled by a surge in global investor inflows and a revival in Chinese markets, strengthening the city's claim as the world's leading cross-border wealth hub
US job growth slows sharply to 57,000 in June; unemployment dips to 4.2% as labor force shrinks
Payroll additions miss estimates, labor force participation falls to a four-year low, while markets reduce expectations of an immediate Federal Reserve rate hike.
What did Japan PM Sanae Takaichi's India visit deliver for both nations?
Japan Prime Minister Sanae Takaichi's first official visit to India produced about $12.5 billion in fresh investments, 129 MoUs, a new economic security roadmap, a first military hardware co-development project, AI cooperation, a 1,000-biogas plant initiative and expanded collaboration on semiconductors, critical minerals, high-speed rail and the Indo-Pacific
Canada factory activity rises despite conflict-driven supply chain challenges
S&P Global Manufacturing PMI inches up to 53.0; employment strengthens while West Asia shipping disruptions and higher input costs weigh on business confidence
Air India Express resumes Kuwait and Salalah flights after West Asia disruptions
Kozhikode-Salalah services resume from July 2, Kuwait flights to restart from July 3 and Bengaluru-Kuwait operations from July 4 as the airline gradually restores capacity across the Gulf.