Business News - Page 8
Petrol, diesel price cut possible if crude oil stays low for 2-3 months: Hardeep Puri
Oil Minister says retail fuel prices reflect earlier high-cost crude purchases; OMCs continue to face under-recoveries of Rs 2.10 lakh crore, including LPG, during January-June.
India, Japan to replicate auto success in shipbuilding, aviation: PM Modi after talks with Takaichi
Modi says both countries will expand cooperation in talent mobility, research, startups and skill development as India-Japan diplomatic ties approach their 75th anniversary
As Europe swelters, Indian AC makers eye a once-in-a-generation export opportunity
Europe's record heatwaves are driving a surge in demand for cooling appliances, creating a major export opportunity for Indian air-conditioner makers. But breaking into the lucrative European market will require overcoming stiff competition from Chinese and South Korean rivals, meeting stringent EU regulations and investing in product localisation
EU top court upholds €4.1 billion antitrust fine against Google in Android case
Europe's highest court dismisses Google's final appeal, affirming the European Commission's landmark ruling over abuse of Android's market dominance.
India, Japan target 10 trillion yen investment in next 10 years, deepen strategic ties
Modi, Takaichi deepen India-Japan ties with 10 trillion yen investment target, new tech roadmap
Beyond border trade: Why reopening of Lipulekh Pass matters for India, China and the Himalayas
The reopening of Lipulekh Pass after six years is more than the return of border trade. It revives a centuries-old Himalayan trade corridor, restores the Kailash Mansarovar pilgrimage route, boosts Uttarakhand's frontier economy and signals a cautious thaw in India-China relations, even as disputes with both China and Nepal remain unresolved
Japan to fund India's power grid with $492 million under new Asia energy initiative: Report
Japan is set to finance India's power grid with up to $492 million under the first project of its new POWERR Asia initiative, as Prime Ministers Narendra Modi and Sanae Takaichi deepen cooperation on clean energy, infrastructure and economic security during the India-Japan Annual Summit
OpenAI discussed giving Trump administration a 5% stake to ease AI regulatory hurdles: Report
OpenAI has reportedly discussed granting the Trump administration a 5 per cent equity stake as part of a broader proposal to ease AI regulatory hurdles and align the industry's interests with Washington.
Australia's top gold miner Northern Star names Glencore executive Suresh Vadnagra as CEO
Australia's biggest gold miner Northern Star has appointed Glencore executive Suresh Vadnagra as its new CEO, as the company faces mounting pressure from activist investor Elliott Investment Management to improve operations, governance and shareholder returns
South Korean stocks plunge as much as 7% as AI jitters hammer Samsung, SK Hynix
South Korean stocks plunged as much as 7 per cent as AI-related concerns triggered a sharp selloff in semiconductor shares. Samsung Electronics and SK Hynix each fell over 8 per cent amid worries over AI spending, potential overcapacity and rising competition from Chinese chipmakers
Trump made billions from crypto. His fans didn't — now critics accuse him of 'disgusting' greed
US President Donald Trump's financial disclosures reveal his crypto ventures generated more than $1.4 billion since returning to the White House, even as many supporters who invested in his memecoin suffered heavy losses, triggering fresh allegations of "disgusting" greed and conflicts of interest
Chinese tech giant Alibaba to pay $600 million to settle US probe over illegal drug sales
Chinese tech giant Alibaba will pay $600 million to settle a US Justice Department probe into allegations that it failed to prevent illegal drug and pharmaceutical equipment sales on its e-commerce platforms, marking another legal setback in the United States
Who is Ravi Thanawala? Indian-origin executive named American Eagle CFO
The former Nike North America finance chief and Papa John's CFO will take over as Chief Financial Officer of American Eagle Outfitters from August 3, succeeding company veteran Mike Mathias after more than 25 years with the retailer
Fed's Warsh says rate decisions will be made behind closed doors, rules out forward guidance
Fed Chair Kevin Warsh says policymakers will debate interest rates at the next meeting without offering advance signals, reiterates commitment to central bank independence and a 2 per cent inflation target.
Kotak Mahindra Bank to acquire Deutsche Bank's India retail and wealth business for Rs 281.7 crore
Deal expected to close by September 2027; acquisition includes Rs 29,000 crore loan book and 1.5 lakh customers
Ukraine hits fuel hub, missile component plant deep inside Russia
Kyiv says long-range attacks hit strategic military and energy targets over 1,300 km inside Russia, signalling a sharper push to disrupt Moscow's war machine.
India to open first section of bullet train corridor in 2027 as construction gathers pace
The Railway Ministry says a substantial portion of work on the Surat–Vapi stretch has been completed, marking a key milestone for India's first high-speed rail project.
Nine years of GST: Rising collections, digital compliance and business confidence mark the next phase
Nine years after its launch, GST has evolved into a mature digital tax system, with rising revenue collections, 1.65 crore registered taxpayers, stronger business confidence and ongoing reforms aimed at simplifying compliance and boosting economic growth
Finance Minister Nirmala Sitharaman begins four-day France visit to deepen India-France economic partnership
Finance Minister Nirmala Sitharaman will co-chair the India-France Economic & Financial Dialogue, engage with global CEOs, participate in Europe's leading economic forum, and hold talks on investment, technology, clean energy and cybersecurity during her four-day visit.
IndiGo Lite: A lighter fare in Indian skies, but is it a fair deal?
The introduction of IndiGo Lite marks a return to cabin-baggage-only fares in Indian skies, an experiment that was previously tested and shelved
The AI power grab: How the race to build artificial intelligence is driving up your electricity bill
Rapid expansion of AI infrastructure is straining power grids, driving up household electricity costs and fuelling a political debate over who should pay for the energy transition.
Beyond oil: How India is preparing for the next global supply shock
From crude oil and LPG to critical minerals, medicines and eventually semiconductor supply chains, New Delhi is quietly broadening its definition of strategic reserves. As geopolitical conflicts and trade disruptions become more frequent, economic security is emerging as the country's newest national security priority.
India's GST collections rise 13.9% to Rs 1.95 lakh crore in June, driven by robust import revenues
Gross GST revenue rises to Rs 1.95 lakh crore; import collections jump 34.6 per cent while net revenue grows 11.2 per cent after refunds
India's manufacturing growth slows to four-year low in June as demand weakens: HSBC PMI
Factory activity remains in expansion mode, but softer domestic and export demand, weaker hiring and easing inflationary pressures signal a loss of momentum.
India cuts aviation turbine fuel prices by nearly Rs 5/litre as crude oil eases
India has reduced aviation turbine fuel prices by nearly Rs 5 per litre from July 1 as global crude oil prices eased following lower geopolitical tensions in West Asia, providing relief to domestic airlines facing high fuel costs
Microsoft to cut thousands of jobs across sales, consulting and Xbox in fresh layoffs: Report
Microsoft is reportedly preparing to cut fewer than 2.5 per cent of its global workforce, affecting thousands of employees across sales, consulting and Xbox, as the tech giant reins in costs amid heavy AI spending
India cuts commercial LPG prices by Rs 183.50 after months of hikes; domestic rates remain unchanged
India has reduced the price of 19-kg commercial LPG cylinders by Rs 183.50 from July 1, offering relief to hotels, restaurants and other businesses after months of steep hikes. However, domestic LPG cylinder prices remain unchanged, providing no respite for household consumers
EU ends duty-free era for cheap Chinese parcels, hits Shein and Temu with new €3 import fee
The European Union has ended the duty-free exemption for low-value imports, introducing a €3 customs fee on parcels from outside the bloc. The move targets Chinese e-commerce platforms such as Shein, Temu and AliExpress, and aims to protect European retailers while tightening customs oversight
World Bank to end lending to China by 2031 as Beijing's economy matures: Report
The World Bank plans to end lending to China by 2031 under a new partnership framework, reflecting the country's economic rise and long-standing US calls to stop multilateral development financing for Beijing
South Korea's exports hit fastest growth since 1978 as AI chip demand surges
South Korea's exports surged 70.9 per cent in June, marking the fastest annual growth since 1978, as booming global AI investment drove record semiconductor shipments and pushed the country's monthly exports above $100 billion for the first time