Business

[ad_1] India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime…

[ad_1] Union Commerce Minister Piyush Goyal on Wednesday gave an update on the ongoing India-US trade talks amid persisting tensions, as India deals with 50% tariffs. The union minister indicated that while discussions on the India-US Bilateral Trade Agreement (BTA) are “going on very well,” there remain “many sensitive and serious issues” that will require…

[ad_1] The Japanese conglomerate, with its extensive AI investment portfolio spanning various sectors, saw a substantial $32 billion reduction in market capitalisation. (AI image) SoftBank Group’s shares saw a dramatic 14% decline on Wednesday, accompanied by broader falls across Asian AI-related companies, reflecting similar drops in their US counterparts. Investors displayed increasing caution towards the…

[ad_1] AI image used for representative purposes Following improved India-China relations, the authorities, including the International Financial Services Centre Authority (IFSCA), are evaluating a banking sector proposal to enable International Banking Units at Gujarat International Finance Tec City (GIFT City) to conduct transactions in offshore renminbi (CNH).GIFT City operates as a global financial services hub,…

[ad_1] The United States has entered uncharted territory as the ongoing government shutdown surpassed all previous records, becoming the longest-ever on Wednesday, exceeding the 35-day benchmark set during Donald Trump’s first term. The stalemate—rooted in a bitter dispute over healthcare spending—has left federal agencies shuttered, key welfare programmes suspended, and millions of Americans bracing for…

[ad_1] Data from Kpler shows Reliance’s imports dropped to 534,000 barrels per day (bpd) in October. (AI image) Mukesh Ambani-led Reliance Industries (RIL) has cut back on its crude oil imports from the Russia and in the coming months is expected to stop buying from entities sanctioned by the Donald Trump administration. RIL is the…

[ad_1] China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff. According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “for one…

[ad_1] Banks across several states will remain closed on Wednesday, November 5, in observance of Guru Nanak Jayanti and Kartik Purnima. With physical branches shut in multiple regions, customers planning in-person visits or time-sensitive transactions are advised to check local schedules in advance. States observing a bank holiday on November 5 According to the Reserve…

[ad_1] Tarun Garg – the COO of Hyundai India (who is set to take charge as CEO and MD from January) NEW DELHI: With plans to launch over two dozen new cars in India over the next few years, Hyundai on Tuesday said it is confident of getting back its No 2 position in the…

[ad_1] MUMBAI: State Bank of India (SBI) reported a 10% rise in standalone net profit for the quarter ended Sept, aided by a one-time gain from the sale of its stake in Yes Bank and steady loan growth. During the quarter the bank’s total business crossed the Rs 100 lakh crore-mark. The bank’s standalone net…