A unit of Reliance Industries has reportedly started loading a 2-million-barrel shipment of Venezuelan crude. The oil has directly procured from state-run oil firm Petróleos de Venezuela, SA (PDVSA), according to a company document and shipping data on Monday, cited by Reuters.Reliance Industries secured a US general licence in February 2026, following an application in…
Finance Minister Nirmala Sitharaman on Monday said India stands out in debt management among major economies, with an overall debt-to-GDP ratio of about 81%, even as the global economy faces rising volatility and uncertainty, PTI reported.Speaking at an event organised by the National Institute of Public Finance and Policy (NIPFP), Sitharaman warned that the ongoing…
JPMorgan Chase CEO Jamie Dimon has warned that the ongoing war in Iran could trigger oil and commodity price shocks, keeping inflation elevated and pushing interest rates higher than current market expectations, Reuters reported.The warning came in his annual letter to shareholders, a day after US President Donald Trump escalated pressure on Iran by threatening…
Benchmark indices Sensex and Nifty staged a sharp rebound on Monday after early losses, supported by a correction in crude oil prices and strong buying in banking stocks.The 30-share BSE Sensex jumped 787.30 points, or 1.07%, to settle at 74,106.85. During the session, it climbed as much as 887.91 points, or 1.21%, to 74,207.46.The 50-share…
The Supreme Court of India on Monday declined to stay proceedings in a plea filed by Vedanta Limited challenging the approval of AdGroup’s resolution plan for the takeover of insolvent Jaiprakash Associates Limited.A Bench led by Chief Justice of India Surya Kant observed that since the appeal is likely to be decided shortly by the…
Hyderabad: Aurobindo Pharma’s board on Monday approved a Rs 800 crore share proposal to buy back up to 54.23 lakh fully paid-up equity shares of the company of face value Rs 1 each at Rs 1,475 a share.The proposed buyback, which is subject to regulatory and statutory approvals, represents up to 0.93% of the total…
India is stepping up efforts to secure fertiliser supplies, with plans to import 2.5 million metric tonnes of urea as it works to stabilise availability in the domestic market amid tightening conditions linked to the US-Israeli war with Iran.This comes as ongoing tensions in the Middle East have been disrupting global energy flows and shipping…
NEW DELHI: CII has released a 20-point plan to help shield Indian companies grappling with the impact of the West Asia crisis, including tax and duty rejig for energy inputs, customs waiver for LNG, and long-term capital gains tax exemption for primary market investment to boost foreign capital inflows.Drawing upon the Covid-era toolkit, the industry…
Why are bond yields rising?Bond yields are climbing due to a combination of rising crude oil prices and a weakening rupee, both of which add to inflationary pressures. India’s 10-year benchmark yield has risen to around 7% from 6.68% a month ago. Crude oil prices have surged to $115–$120 per barrel, and with India importing…
Rupee stood firm on Monday, gaining 33 paise to reach 92.85 against the US dollar in early trade. This follows intervention by the Reserve Bank of India, as the bank stepped in to support the currency. The RBI tightened norms to curb speculative positions and capped banks’ net open positions at $100 million, even as…