DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Fri, 17 Apr 2026 12:48:38 +0530 en https://dailyworld.in/business/indian-stock-markets-gain-in-early-trade-amid-oil-relief-israel-lebanon-ceasefire-669881.html Mumbai April 17 Domestic equity benchmarks opened on a flat note on Friday but gained afterwards after relief in global oil prices and US President Donald Trumps ceasefire announcement between Israel and Lebanon Sensex opened at 77976 down 12 points or 002 per cent while Nifty began the session up 30 points or 013 per cent at 24165The indices traded mildly positive further with the 30scrip basket gaining 142 points or 018 per cent to 78130 and the 50share index adding 28 points or 011 per cent to 24224 amid buying in FMCG energy and realty stocksHDFC Life Wipro Hindalco Industries Bharti Airtel and JSW Steel were among the top laggards in the early trading sessionAmong broader indices microcap and smallcap stocks led the momentum with the Nifty Microcap 250 trading around 1 per cent higher and the Nifty Smallcap 250 rising about 1 per centThe US President has announced a ceasefire between Israel and Lebanon which could ease geopolitical tensions Earlier he indicated that the conflict was nearing a closeAccording to analysts given prevailing global uncertainties and elevated market volatility a cautious and selective investment approach is advisableInitiating fresh long positions should ideally be deferred until the Nifty decisively breaks above and sustains the 24500 level which would signal improved sentiment and the potential for a more sustained bullish trend analysts saidOn the oil front Brent crude futures declined by up to 14 per cent to 9799 per barrel while US WTI crude traded at 9291 down around 2 per centIn global equity markets Wall Street ended on a positive note with the SampP 500 closing 026 per cent higher and the Nasdaq settling 036 per cent upIn contrast Asian markets traded in the negative zone with Nikkei down 1 per cent KOSPI lower by about 1 per cent and Hang Seng slipping more than 1 per centOn Thursday foreign institutional investors FIIs remained net buyers for the second straight session in India purchasing equities worth Rs 382 crore Meanwhile domestic institutional investors DIIs booked profits offloading equities worth over Rs 3400 crore IANS https://dailyworld.in/business/indian-stock-markets-gain-in-early-trade-amid-oil-relief-israel-lebanon-ceasefire-669881.html Fri, 17 Apr 2026 09:50:00 +0530 https://dailyworld.in/business/global-crude-oil-prices-slip-up-to-2-pc-as-west-asia-tensions-ease-669885.html Mumbai April 17 International crude oil benchmarks declined about 2 per cent on Friday on hopes of an end to the West Asia conflict that began on February 28 Brent crude futures traded at 9799 per barrel hitting an intraday low in early trade and declining over 1 per centAt the same time US West Texas Intermediate WTI crude fell nearly 2 per cent to an intraday low of 9291However in the previous session the global benchmark settled around 5 per cent higher at 9939 Similarly US WTI finished over 2 per cent higher at 9332Meanwhile on the domestic Multi Commodity Exchange MCX crude oil declined as much as 26 per cent to Rs 8625Traders were buoyed by the US Presidents announcement of a 10day ceasefire between Israel and Lebanon The President also said Tehran had offered to refrain from possessing nuclear weapons for more than 20 yearsâI hope Hezbollah acts nicely and well during this important period of time It will be a GREAT moment for them if they do No more killing We must finally have PEACE Thank you for your attention to this matter he said on the social media platform Truth SocialSpeaking to the media Trump said We will see how things unfold but I believe we are very close to a deal with IranOn the equities front trends were mixed across global markets Domestic benchmark indices Sensex and Nifty opened on a flat note on FridayAsian markets traded in negative territory with major indices down up to 1 per centIn the US Wall Street ended on a mildly positive note with the Nasdaq closing up 036 per cent and the SampP 500 rising 026 per cent IANS https://dailyworld.in/business/global-crude-oil-prices-slip-up-to-2-pc-as-west-asia-tensions-ease-669885.html Fri, 17 Apr 2026 10:36:00 +0530 https://dailyworld.in/business/indian-rupee-strengthens-25-paise-as-rbi-curbs-dollar-demand-from-oil-firms-669894.html Mumbai April 17 The Indian currency strengthened by 25 paise to 9295 against the US dollar in early trade on Friday supported by easing pressure on the currency after the Reserve Bank of India RBI reportedly asked staterun oil refiners to use a special credit line instead of buying dollars The domestic currency opened stronger after closing at 9320 in the previous session amid improved sentiment in local equities and hopes of easing geopolitical tensionsHowever the currency remained somewhat constrained by a firm US dollar in global marketsMeanwhile precious metals gold and silver witnessed a choppy session on FridayGold futures June 5 were trading at Rs 153250 up Rs 98 or 006 per cent The yellow metal touched an intraday high of Rs 153301 rising Rs 149 or 009 per cent while at the lower end it slipped to Rs 153010 down Rs 142 or 009 per centOn the other hand silver futures May 5 gained 083 per cent or Rs 2088 to hit an intraday high of Rs 250716 The white metal touched an intraday low of Rs 249300 up Rs 672 or 027 per centAccording to commodity market experts the bias remains cautiously positive with macro factors offering some support However a decisive move above resistance levels is needed to strengthen momentum further they saidFor silver they added that the tone remains cautious with macro factors providing support though momentum is still developing and requires confirmation for a sustained uptrendMeanwhile Brent crude the global oil benchmark traded at 9799 per barrel down more than 1 per centSimilarly US WTI crude fell nearly 2 per cent to an intraday low of 9291On the geopolitical front sentiment improved after reports of a ceasefire between Israel and Lebanon along with expectations of progress in the USIran talksIn the domestic equity market benchmark indices opened on a flattopositive note lending support to the rupee IANS https://dailyworld.in/business/indian-rupee-strengthens-25-paise-as-rbi-curbs-dollar-demand-from-oil-firms-669894.html Fri, 17 Apr 2026 11:22:00 +0530 https://dailyworld.in/business/dgca-begins-inquiry-into-ground-incident-involving-spicejet-akasa-air-planes-669903.html New Delhi April 17 IANS The Directorate General of Civil Aviation DGCA has initiated an investigation into a ground incident at the New Delhi International Airport involving SpiceJet and an Akasa Air aircraftnbspA ground incident occurred at IGI Airport New Delhi on Thursday involving a SpiceJet B737700 aircraft SG124 LehDelhi and an Akasa Air B737 MAX 8 aircraft QP1406 DelhiHyderabad near bay No 106 at Terminal 1nbspDuring taxiing the right winglet of the SpiceJet aircraft came into contact with the left horizontal stabiliser of the Akasa aircraftnbspBoth aircraft sustained damage and have been grounded for inspection and rectification said Civil Aviation MinistryAs per initial information the Akasa Air aircraft had been pushed back from bay No 104 and was positioned for engine startnbspThe SpiceJet aircraft holding near bay No 108 was cleared by ATC to taxi to bay No 106 after the pilot confirmed separation from the Akasa aircraft During the manoeuvre the SpiceJet aircraft executed a turn without wing walker clearance resulting in the contact according to an official statementPending inquiry the pilots of the SpiceJet aircraft and the concerned Air Traffic Control officer have been taken off dutyThe Ministry of Civil Aviation is closely monitoring the situation and is taking all necessary steps to uphold safety standards and prevent recurrence said the statementThe incident took place around 215 pm when the SpiceJet aircraft arriving from Leh was taxiing towards its designated gate and made contact with the Akasa Air plane which was preparing for departure to HyderabadPreliminary information suggested that the aircraft was stationary when another airlines plane made contact with itAkasa Airs aircraft operating flight QP 1406 from Delhi to Hyderabad had to return to the bay on April 16 Preliminary information indicates that Akasas aircraft was stationary when another airlines aircraft made contact with it said an Akasa Air spokespersonThe airline confirmed that all passengers and crew members were safely disembarked and alternative arrangements were being made to fly passengers to Hyderabad at the earliestIANS https://dailyworld.in/business/dgca-begins-inquiry-into-ground-incident-involving-spicejet-akasa-air-planes-669903.html Fri, 17 Apr 2026 12:27:00 +0530 https://dailyworld.in/business/govt-seeks-public-comments-to-review-companies-incorporation-rules-filing-framework-rationalisation-669904.html New Delhi April 17 IANS The government on Friday said it is inviting public comments by May 9 for reviewing the Companies Incorporation Rules 2014 and for the rationalisation of the filing framework under the Companies Act 2013nbspA draft notification titled the Companies Incorporation Amendment Rules 2026 proposing amendments to the Companies Incorporation Rules 2014 has been prepared vide a public notice dated April 8The notification is placed on the website wwwmcagovin for information of stakeholders for the purpose of public consultations said Ministry of Corporate Affairs MCAnbspAccording to the ministry suggestions and comments on the proposed amendments along with brief justification may be submitted through the eConsultation Module available on the website by May 9 2026The ministry through the Indian Institute of Corporate Affairs IICA is also undertaking consultation to seek stakeholder inputs on the rationalisation of the filingcompliance framework under the Companies Act 2013nbspThe concept note for the same is placed on the website for the information of stakeholders for the purpose of public consultation which covers the full corporate lifecycle across three stages entry operations and exit The last date to submit the comments is May 15 2026 said the ministryLast month the Lok Sabha gave its approval for referring the Corporate Laws Amendment Bill 2026 to the Joint Parliamentary Committee JPC for further scrutinyFinance Minister Nirmala Sitharaman introduced the Bill which aims to amend the Limited Liability Partnership Act 2008 and the Companies Act 2013 in the lower house of the Parliament and proposed that it be sent to the JPC for detailed analysisThe Bill aims to facilitate ease of doing business decriminalise minor offences replace certain criminal provisions with civil penalties and reduce compliance burdens for small firms startups and produce companies set up by farmersSitharaman highlighted that this legislation has been brought after two years of full deliberation She said the opinion of the representatives from industry chambers professional institutes legal and accounting experts and the public was taken and examined before introducing the Bill in the HouseIANS https://dailyworld.in/business/govt-seeks-public-comments-to-review-companies-incorporation-rules-filing-framework-rationalisation-669904.html Fri, 17 Apr 2026 12:31:00 +0530 https://dailyworld.in/business/sensex-nifty-open-higher-as-geopolitical-tensions-ease-669697.html Mumbai April 16 The Indian stock markets opened on a higher note on Thursday with the equity benchmarks mirroring global cues amid hopes of easing geopolitical tensions between Washington and Tehran Sensex opened 566 points or 073 per cent higher at 78677 in opening trade while Nifty began the session at 24385 up 154 points or 064 per cent Sectorally gains were led by realty media consumer durables and financial stocksCategorywise smallcap and midcap stocks were the top gainers with the Nifty Smallcap 100 Nifty Smallcap 250 and Nifty Midcap 100 rising up to 1 per cent in early tradeOn Wednesday FIIs remained net buyers to the tune of approximately Rs 666 crore while DIIs turned net sellers with outflows of around Rs 569 croreAccording to analysts volatility could pick up again depending on global developments and upcoming triggersAfter the recent sharp rally the market may witness some consolidation or profit booking at higher levels they addedIn contrast oil commodities traded on a firm note with Brent crude futures at 9492 per barrel down 003 per cent while US WTI crude traded at 9152 up 025 per centOn the global front both US and Asian markets showed positive momentum Japanâs Nikkei was trading over 2 per cent higher Hang Seng climbed more than 1 per cent and South Koreaâs KOSPI was up about 2 per centIn the US overnight Wall Streetâs major indices the SampP 500 and the Nasdaq ended 080 per cent and 16 per cent higher respectivelyMeanwhile the US President said that China is very happy with the permanent opening of the Strait of HormuzI am doing it for them also and the world This situation will never happen again They have agreed not to send weapons to Iranâ he said on his social media platform Truth SocialHowever the war has resulted in the largestever disruption of global oil and gas supplies by choking traffic through the strait pushing crude prices to nearly 120 per barrel IANS https://dailyworld.in/business/sensex-nifty-open-higher-as-geopolitical-tensions-ease-669697.html Thu, 16 Apr 2026 10:08:00 +0530 https://dailyworld.in/business/indias-trade-deficit-narrows-amid-surge-in-goods-exports-services-surplus-report-669734.html New Delhi April 16 IANS Indias external position showed resilience in March 2026 as the goods trade deficit fell to 21 billion due to a sharp fall in preciousmetal imports and a rebound in exports a report said on ThursdaynbspMeanwhile a robust services sector surplus continued to offset the higher goods deficit the report from Emkay Global Financial Services notedIndias total imports fell about 6 per cent monthonmonth to 596 billion and total exports rose 6 per cent to 389 billion Net services exports rose to 182 billion in March with FY26 seeing healthy growth of 13 per centNotably oil imports fell around 6 per cent MoM despite the sharply higher prices likely reflecting a 3540 per cent fall in volume with the Strait of Hormuz closure FY26 exports grew 1 per cent but the US tariff hit was mitigated via destination diversificationThe reduction in the goods trade deficit was mainly due to gold import value dipping 59 per cent and silver imports dropping 63 per cent MoMWith Strait of Hormuz flows being largely curtailed the crude oil import volume hit may have been as high as 3540 per cent Oil exports on the other hand rose around 51 per cent MoM to 52 billion touching the highest level since May 2025 with global prices for refined products having spikedNotably exports to Saudi Arabia and the UAE fell 44 per cent and 60 per cent MoM respectively due to the conflict and this is likely to have contributed to the around 22 per cent MoM decline in the export of gems and jewelleryThe report forecasted a baseline scenario for fiscal 2027 assuming Brent at 80 per barrel to estimate a current account deficit of about 17 per cent of GDP and a balance of payments shortfall of over 35 billionServices exports have been resilient in FY26 helped by GCCs but may face headwinds in FY27 from a global growth shock if the Middle East crisis is protracted the firm projectedIANS https://dailyworld.in/business/indias-trade-deficit-narrows-amid-surge-in-goods-exports-services-surplus-report-669734.html Thu, 16 Apr 2026 12:39:00 +0530 https://dailyworld.in/business/gold-silver-edge-higher-on-hopes-of-west-asia-de-escalation-669741.html Mumbai April 16 IANS Gold and silver prices rose on Thursday even after US President Donald Trumps remarks on easing geopolitical tensions and the opening of the Strait of HormuznbspOn the Multi Commodity Exchange MCX gold futures June 5 contract climbed as much as 067 per cent or Rs 1042 to hit an intraday high of Rs 154990 by 1057 amSilver futures also jumped up to 158 per cent or Rs 3993 to Rs 255735 logging an intraday highThe yellow metal was trading at Rs 154911 up Rs 963 or 063 per cent after touching an intraday low of Rs 154501 up 035 per cent or Rs 553 The white metal was trading at Rs 254997 up Rs 3255 or 13 per cent after hitting an intraday low of Rs 253720 up 078 per cent or Rs 1978The surge in precious metals comes after Trump hinted at hopes of an end to the West Asia conflictAccording to commodities experts sentiment remains mildly positive with macroeconomic factors offering support although momentum is still developing and would require confirmation for a sustained uptrendGold is trading in the Rs 154500Rs 155000 range with buying interest at lower levels A sustained move above Rs 155000 could revive momentum towards Rs 157000Rs 158000 while a break below Rs 154000 may lead to a correction towards Rs 152000Rs 151000 and further to Rs 148000 a commodity expert saidFor silver the analysts noted that MCX silver is hovering above Rs 254000 supported by safehaven demand and strength in industrial metals Resistance is seen at Rs 260000Rs 263000 with upside potential towards Rs 268000Rs 270000On the downside a break below Rs 250000 may lead to a correction towards Rs 244000Rs 240000 they addedTrump posting on Truth Social said efforts were underway to create a little breathing room between Israel and Lebanon adding that talks between the two sides would take place soonHe also said China was very happy with the permanent opening of the Strait of HormuzI am doing it for them also and the world This situation will never happen again They China have agreed not to send weapons to Iran he saidIANS https://dailyworld.in/business/gold-silver-edge-higher-on-hopes-of-west-asia-de-escalation-669741.html Thu, 16 Apr 2026 12:52:00 +0530 https://dailyworld.in/business/akasa-air-to-launch-new-gwaliordelhibengaluru-flights-jyotiraditya-scindia-669765.html New Delhi April 16 Union Communications and Development of Northeastern Region Minister Jyotiraditya M Scindia said on Thursday that regular flight services of Akasa Air connecting Gwalior with Delhi and Bengaluru will soon commence from the Rajmata Vijayaraje Scindia Airport in the Madhya Pradesh city In a post on X Scindia said that the new Akasa Air services namely GwaliorâDelhiâBengaluru and BengaluruâDelhiâGwalior will further strengthen the connectivity of the GwaliorChambal region offering passengers faster and more reliable access to major citiesHe said the services will also provide fresh momentum to opportunities in trade industry education and employmentâOur resolve to connect the region to nationalâlevel air facilities through a modern airport is now taking concrete shape I am fully confident that this initiative will play a pivotal role in propelling Gwaliorâs overall development to new heights he saidFollowing Air India and IndiGo Akasa Air had last month announced a fuel surcharge on its flights following a rise in aviation turbine fuel ATF prices amid evolving geopolitical developments in the Middle EastIn a post on X the airline said the surcharge will range from Rs 199 to Rs 1300 across its domestic and international routesThe surcharge will apply to all bookings made from 1201 am on March 15 2026 while tickets booked before that time will not be affected IANS https://dailyworld.in/business/akasa-air-to-launch-new-gwaliordelhibengaluru-flights-jyotiraditya-scindia-669765.html Thu, 16 Apr 2026 13:39:00 +0530 https://dailyworld.in/business/tejas-networks-shares-tank-6-pc-after-rs-211-crore-q4-loss-revenue-down-82-pc-669771.html Mumbai April 16 Tata Groupbacked Tejas Networks shares plunged nearly 6 per cent in early trade on Thursday after the companyâs JanuaryâMarch quarter Q4 earnings disappointed traders and investors The BSE 500 stock declined as much as 586 per cent to Rs 42350 hitting an intraday low compared with its previous close of Rs 44990 The fall came after the company reported its fifth straight quarterly loss in Q4 FY26 with revenue also declining sharply yearonyearTejas Networks which designs develops and sells telecom and networking equipment for highspeed communication networks posted a net loss of Rs 211 crore in Q4 FY26 compared with a loss of Rs 72 crore in the same quarter last yearThe company had earlier posted losses of Rs 194 crore in Q1 FY26 Rs 307 crore in Q2 FY26 and Rs 197 crore in Q3 FY26 taking total FY26 losses to Rs 909 crore However the company had reported a profit of Rs 447 crore in FY25In terms of revenue it witnessed a decline of 8253 per cent yearonyear to Rs 333 crore in Q4 from Rs 1907 crore in the yearago periodFor the full year revenue fell 88 per cent to Rs 1103 crore from Rs 8923 crore in FY25On the operating front EBITDA turned negative at Rs 118 crore compared with a profit of Rs 1215 crore a year earlier while margins also slipped into negative territory at 35 per cent versus 6 per cent in Q4 FY25The companyâs order book stood at Rs 1514 crore as of March up 49 per cent yearonyear Net debt stood at Rs 3531 crore while gross debt was Rs 4035 croreIn past trends the stock is down over 4 per cent so far in 2026 It has gained 11 per cent monthtodate after a 25 per cent fall in January a 29 per cent rise in February and an 117 per cent decline in March IANS https://dailyworld.in/business/tejas-networks-shares-tank-6-pc-after-rs-211-crore-q4-loss-revenue-down-82-pc-669771.html Thu, 16 Apr 2026 14:08:00 +0530 https://dailyworld.in/business/indias-trade-deficit-widening-due-to-higher-oil-prices-pushed-out-to-coming-months-report-669777.html New Delhi April 16 The trade deficit widening has been pushed out rather than avoided a report showed on Thursday adding that if the energy shock persists and Brent oil prices stays elevated the deficit is likely to widen in the coming months Indias goods trade deficit came in at 207 billion in March much lower than last months 27 billion deficit The March deficit is usually slightly narrower but markets expected it to widen this time as Brent is up 60 per cent YoY due to the Middle East conflict said the HSBC Global Investment Research reportOil import bill came in lower than February suggesting that March reflects supplyavailability constraints more than a price shock âIndia buys about half of its energy needs 45 per cent of crude oil imports 60 per cent of LNG imports and 80 per cent of LPG imports from the Middle Eastâ the report mentionedOil exports rose to sharply up 50 per cent on monthly basis This rise in oil exports also explains the sharp upward revision in windfall taxes imposed by the government to ensure adequate availability of these fuels for domestic consumptionDuties on export of diesel and ATF were revised up to Rs 555 per litre and Rs 42 per litre on April 12 Gold imports fell sharply 31 billion in March against an average import bill of 10 billion in JanFebOn a full year basis Indias trade deficit was at 333 billion in FY26 compared to 283 billion in FY25 while the services trade surplus was at 214 billion compared to 189 billion in FY25FY26 started with tariff related headwinds and ended with an oil shock alongside a sharp rise in gold imports Indias goods trade surplus with the US narrowed to 34 billion vs 41 billion in FY25 While Indias exports to China were clocking a healthy uptick imports were growing even faster As a result Indias trade deficit with China widened further 112 billion vs 99 billion in FY25 said the report IANS https://dailyworld.in/business/indias-trade-deficit-widening-due-to-higher-oil-prices-pushed-out-to-coming-months-report-669777.html Thu, 16 Apr 2026 14:40:00 +0530 https://dailyworld.in/business/voice-of-india-carries-lot-of-weight-bilaterally-and-in-international-forums-austrian-chancellor-stocker-669778.html New Delhi April 16 Austrian Chancellor Christian Stocker on Thursday hailed Indias role bilaterally and in international forums saying that New Delhis voice carries a lot of weight Stocker stated that he and Prime Minister Narendra Modi agree that peace in all conflicts can be achieved through negotiations While addressing a joint press meet with PM Modi following their talks in New Delhi on Thursday Stocker stated that he and Prime Minister Modi support a rulesbased order and not a world where might is rightStocker stated We are living in an age of geopolitical upheaval and disruption Power centres are shifting new alliances are being created and conflicts are becoming more complex At times like this stability trust and reliable partnerships are not just words but a strategic necessity And that is why India is such a reliable partner and is valued by Austria The largest democracy in the world shares common interests and fundamental values At a time when geopolitical challenges are getting stronger such partnerships are even more valuable Together we represent an international order in which we can live in freedom and securityWe are in favour of a rulesbased world order and not a world in which might is right Mr Prime Minister and I share the view that peace in all conflicts can only be achieved through negotiation and the voice of India carries a lot of weight bilaterally and also in international forums In a vibrant democracy parliaments also play an important role We have very important priorities in many areas and we believe that dynamic technological cooperation will be important and will connect us he addedHailing Indias growth he said India has an impressive growth rate of about 7 per cent per year and its one of the most dynamic global markets and a key strategic partner for us Austrian companies will in the future benefit more strongly from this dynamismHe stated that the Free Trade Agreement FTA between India and the EU will reduce trade barriers and create new opportunities for exports investments and industrial cooperation He called the IndiaEU FTA important in times of geopolitical challengesTerming his visit to New Delhi a milestone for bilateral ties he said My visit is in fact a milestone for AustrianIndian relations and I am very pleased and I also think its a great honour to be the first federal Chancellor to visit India in more than 40 years Mr Prime Minister you visited Vienna in the summer of 2024 and I think we can truly say that the diplomatic relations that weve had for the last 75 years are much stronger than ever before and we will be trying to build on this positive dynamism And thank you very much Mr Prime Minister for your invitation and also for your very friendly welcome and your hospitalityBut I havent come to India alone I am accompanied by 60 highranking business leaders The whos who of the Austrian business world This delegation is led by our Minister for economic affairs and the Vice President of the Austrian Economic Chamber Our close political ties are also of benefit for our business landscape he addedCalling India one of the most important trading partners outside the EU for Austria he noted that the bilateral trade between the two nations has increased to about three billion euros in the last 10 years He stated that about 160 Austrian companies are active in the Indian market in important frontier technologies like semiconductor production renewable energies automotive and infrastructureHe announced that India and Austria will be strengthening cooperation in security and defence through strategic dialogueHe said As far as our enterprises are concerned we want to have good ideas that can be implemented much more quickly and that investment takes place and that decisions are taken more quickly and that problems are resolved In terms of food security we want clear standards We believe in cooperation and knowledge transfer Reliable quality strengthens markets It creates trust We will be intensifying our cooperation in the fields of security and defence through a strategic dialogueAnd so as far as combating terrorism is concerned its clear that security does not end where our borders end And this is something that can only be tackled at a global level All this shows that our partnership covers a lot of areas We have economic dynamism academic and scientific cooperation and responsibility as far as security policy is concerned he added IANS https://dailyworld.in/business/voice-of-india-carries-lot-of-weight-bilaterally-and-in-international-forums-austrian-chancellor-stocker-669778.html Thu, 16 Apr 2026 14:40:00 +0530 https://dailyworld.in/business/cargo-service-train-to-operate-between-delhi-and-kashmir-from-friday-northern-railway-669779.html Jammu April 16 A joint parcel product rapid cargo service JPPRCS train will operate from Adarsh Nagar in New Delhi to Budgam in Kashmir from Friday Northern Railway officials said on Thursday A statement by the Northern Railway said that the JPPRCS train will run between Adarsh Nagar station in New Delhi and Budgam in Central KashmirOfficials said this will give relief to traders in the Valley particularly fruit growers and handicrafts artisans The service will run regularly on a trial basis till May 31 after which it is likely to be inducted into regular service subject to satisfactory occupancy levels an official release saidTrain 00462 will depart from Budgam at 615 am and arrive at Delhiâs Adarsh Nagar at 5 am the following dayTo facilitate loading and unloading operations en route the train will also make scheduled halts at Bari Brahmana and Ambala cantonment stationsThe timing for Train 00462 at Bari Brahmana Railway Station has been revised to provide greater convenience to the trading community the statement saidOn the return journey Train 00461 will depart from Adarsh Nagar at 5 am and arrive at Budgam at 1045 am the next day This special parcel train would consist of eight parcel vans and one seatingcumluggage rakeThe railways said the service offers faster transit than road transport covering the distance in 2324 hours and ensuring perishable goods such as apples and cherries remain freshâThis initiative has been undertaken with the objective of strengthening the economy of Jammu and Kashmir and facilitating the rapid transport of local products such as saffron walnuts pashmina shawls and handicrafts to markets across the countryâ the press statement saidSenior Divisional Commercial Manager Uchit Singhal told reporters that Northern Railway has decided to run the parcel train on a regular basis from April 17 to May 31 following persistent demand from traders and farmers IANS https://dailyworld.in/business/cargo-service-train-to-operate-between-delhi-and-kashmir-from-friday-northern-railway-669779.html Thu, 16 Apr 2026 14:41:00 +0530 https://dailyworld.in/business/india-can-play-key-role-in-helping-africas-green-energy-push-669781.html New Delhi April 16 India can play a key role in helping Africa scale up its renewable energy as the country has over the last decade successfully added over 130 gigawatts of solar and wind capacity with renewables now accounting for just over half of installed electricity capacity according to an article Across Africa the energy transition is not a distant policy target it is a practical attempt to turn sunlight wind and mineral wealth into hospitals with steady power farms that can irrigate after sunset and factories that can plug into something more reliable than expensive diesel generators according to the India Narrative articleIt points out that 600 million people in Africa are still without electricity although access rates are increasing and renewable energy projects are being set up It sees immense potential for India to provide technology and institutional experience to drive this transition aheadIndiaâs expansion has been driven by competitive auctions clear policy signals and a focus on distributed solar that reaches small town grids and rural households For African governments some of those lessons transparent tenders predictable tariffs and a strong domestic engineering base are transferable even if the exact regulatory design must be adapted to local conditionsâ the article written by Zuri Amondi statesThe African continent receives more solar radiation than almost any other region and between 2020 and 2025 African governments and private investors have already committed roughly 25 gigawatts of renewable capacity with another 11 gigawatts secured through private sector deals and solar alone now accounts for a majority of new capacity Besides in many African countries new solar power is cheaper than building new gasfired plants especially when transmission and fuel price volatility are factored in the article pointed outIt also highlights that Africa is a central piece of the global clean energy supply chain through its critical minerals endowment The continent hosts a substantial share of the worldâs cobalt copper manganese platinum group metals and a growing share of lithiumâmaterials that underpin batteries electrolysers and wind turbines which would enable Africa to participate in the global industrial economyThe article points out that Indian utilities have already begun sharing experience with African counterparts on grid modernisation energy storage and the integration of variable renewables Power Grid Corporation of India for example has partnered with Africa50 and other African institutions on transmission projects which can help pool solar and wind across countries and reduce reliance on isolated fossil fuel plantsIndia can help by scaling up patient financing sharing hardwon lessons on grid integration and solar pump schemes and supporting Africanled rules for critical minerals value addition If those elements are aligned under strong African institutions and transparent contracts the IndiaâAfrica renewable energy partnership can become a model of how two large developing regions can build growth resilience and cleaner power together the article said IANS https://dailyworld.in/business/india-can-play-key-role-in-helping-africas-green-energy-push-669781.html Thu, 16 Apr 2026 14:43:00 +0530 https://dailyworld.in/business/maruti-suzuki-indias-market-share-slips-to-13-year-low-669786.html New Delhi April 16 Maruti Suzuki India saw its grip on the domestic passenger vehicle market weaken further in FY26 with its market share falling to a 13year low of 3926 per cent according to data from the Society of Indian Automobile Manufacturers SIAM This marks the third consecutive year of decline for the countryâs largest carmaker which once commanded nearly half of Indiaâs passenger vehicle marketSince FY20 the Gurugrambased company has lost close to 12 percentage points in market share according to the dataThe decline comes despite Maruti Suzuki stepping up its presence in the fastgrowing sport utility vehicle segment with launches such as the Jimny and the Victoris over the past threeandahalf yearsHowever the company has struggled to gain meaningful traction in this categoryUtility vehicles now account for nearly 67 per cent of Indiaâs passenger vehicle market but Maruti Suzukiâs share in this segment remains below 25 per centIn contrast the automaker continues to rely heavily on its stronghold in the sub4 metre segment led by models like the Wagon R Swift and Baleno where it enjoys a dominant 67 per cent market shareHowever growth in this category has slowed significantly expanding by less than 2 per cent in FY26 compared to an 11 per cent growth in utility vehiclesMeanwhile last month the carmaker received a draft assessment order from the Income Tax Authority involving a demand of Rs 5786 croreThe company however clarified that the notice will not have any impact on its financial or operational performanceIn a regulatory filing on March 17 the automaker said it will file its objections before the Dispute Resolution Panel as part of the due processâThe company has received a Draft Assessment Order for the FY2022â23 wherein certain additions disallowances amounting to Rs 57864 million with respect to returned income the income disclosed by the company in its Income Tax return has been proposedâ the carmaker said on March 17 IANS https://dailyworld.in/business/maruti-suzuki-indias-market-share-slips-to-13-year-low-669786.html Thu, 16 Apr 2026 15:17:00 +0530 https://dailyworld.in/business/india-austria-partnership-to-get-more-innovation-centric-and-future-ready-pm-modi-669795.html New Delhi April 16 Prime Minister Narendra Modi on Thursday expressed confidence that the partnership between India and Austria will get more innovationcentric and futureready PM Modis statement came after he met Austrian Chancellor Christian Stocker and discussed ways to deepen cooperation in areas like innovation infrastructure and sustainabilityHe stated that both nations are committed to adding new energy to trade and investment linkagesHeld very productive discussions with Chancellor Stocker of Austria We in India are glad that he selected our nation as his first destination to visit outside Europe after he assumed office This reflects his vision and commitment to IndiaAustria relations Equally special is the fact that this is the first visit by an Austrian Chancellor in four decades His visit also comes in the wake of the historic IndiaEU Free Trade Agreement which has ushered in a new chapter in IndiaEU ties PM Modi posted on XOur talks today covered ways to deepen cooperation in areas such as innovation infrastructure and sustainability We are committed to adding new energy in trade and investment linkages Sectors like defence semiconductors futuristic technologies and StartUps present immense potential for closer relations I am confident that the IndiaAustria partnership will get even more innovationcentric and futureready he addedStocker thanked PM Modi for his invitation to India and his hospitality He stated that his visit to New Delhi marks a new chapter in IndiaAustria friendshipIn a post on X Stocker said Thank you Prime Minister Shri Narendra Modi for the invitation to India and your kind hospitality It is a great honour to be in New Delhiâas the first Austrian Chancellor to visit India in over four decades This visit marks a new chapter in a friendship that has grown stronger for more than 75 years In times of increasing geopolitical uncertainty reliable partners connected by shared values are more important than everEarlier in the day the Austrian Chancellor paid homage to Mahatma Gandhi at RajghatIn a post on X the Ministry of External Affairs MEA said Remembering Bapu and his ideals Federal Chancellor Dr Christian Stocker of Austria paid homage to Mahatma Gandhi at Rajghat laying a wreath and reflecting on Gandhijis enduring message of peace nonviolence and global harmonyStocker arrived in New Delhi on Wednesday for his first official visit to India after assuming office aimed at strengthening bilateral ties across key sectors including trade investment and emerging technologiesEarlier on Wednesday External Affairs Minister EAM S Jaishankar called on the Austrian Chancellor expressing confidence that his talks with Prime Minister Modi would open new avenues for greater cooperation between the two nations IANS https://dailyworld.in/business/india-austria-partnership-to-get-more-innovation-centric-and-future-ready-pm-modi-669795.html Thu, 16 Apr 2026 15:22:00 +0530 https://dailyworld.in/business/reliance-says-jhunjhunwala-bapna-no-longer-working-with-group-669815.html New Delhi April 16 Anil Ambaniled Reliance Group said on Thursday that Amitabh Jhunjhunwala and Amit Bapna who earlier held charge of senior positions in the group are currently not working with it The duo has been arrested by the Enforcement Directorate in connection with an ongoing money laundering investigation linked to an alleged banking fraud involving group entities such as Reliance Home Finance Ltd RHFL and Reliance Commercial Finance Ltd RCFLReliance said that Jhunjhunwala left the group in December 2019 while Bapna left in September 2019 and they no longer have any association with group companies including Reliance Infrastructure Limited and Reliance Power LimitedJhunjhunwala served as the Group Managing Director of the Reliance Group as well as Vice Chairman and Director of Reliance Capital Limited during his association with the group Bapna served as the Chief Financial Officer of Reliance Capital Limited as well as Director of Reliance Home Finance Limited during his tenure at the Reliance GroupThe ED has arrested Jhunjhunwala and Bapna in an ongoing investigation under the PMLA based on multiple ECIRs registered by the Central Bureau of Investigation CBI according to sourcesJhunjhunwala as Director of Reliance Capital Limited is alleged to have been one of the key decisionmakers in various operations of RHFL and RCFL at the relevant time sources addedEarlier this month the CBI registered a case against Reliance Communications Ltd RCom Anil Ambani unknown public servants and unknown others on allegations of causing wrongful loss of Rs 3750 crore to Life Insurance Corporation LIC of IndiaThe case was registered based on a complaint received from Life Insurance Corporation of India Ltd for offences of conspiracy cheating misappropriation and offences under the Prevention of Corruption Act according to an official statementIt is alleged that LIC was fraudulently induced to subscribe to NonConvertible Debentures NCDs worth Rs 4500 crore based on false representations made by Reliance Communications Ltd and its management regarding the financial health of the company and security and asset cover offered to LIC while subscribing to the NCDs Investigation of the case is in progressThe CBI had earlier registered three cases against RCom Ltd Anil Ambani and others on allegations of defrauding many banks Anil Ambani was also interrogated by the CBI at its Delhi headquarters for two days in a row in connection with the alleged Rs 292905 crore SBI fraud caseLate last month the Supreme Court stressed the need for a coordinated fair and timebound investigation into alleged largescale bank frauds linked to Anil Ambaniâs Reliance Communications RCom and its group entitiesA bench headed by Chief Justice of India CJI Surya Kant observed that investigating agencies such as the Enforcement Directorate ED and the Central Bureau of Investigation CBI must join hands and work in coordination to unearth the truth transparently and independently IANS https://dailyworld.in/business/reliance-says-jhunjhunwala-bapna-no-longer-working-with-group-669815.html Thu, 16 Apr 2026 15:59:00 +0530 https://dailyworld.in/business/hdfc-amc-q4-profit-slips-19-pc-sequentially-declares-rs-54-dividend-669816.html Mumbai April 16 HDFC Asset Management Company on Thursday reported a 19 per cent quarteronquarter QoQ decline in its consolidated profit for the March quarter Q4 FY26 with earnings coming in at Rs 62266 crore The asset management firm posted a Rs 76942 crore net profit in the December quarter Q3 FY26 according to its stock exchange filingHowever on yearly basis the profit dropped 25 per cent compared to Rs 63846 crore in the same period previous financial year Q4 FY25The companyâs consolidated revenue from operations rose nearly 17 per cent yearonyear to Rs 105151 crore in the March quarter up from Rs 90136 crore in Q4 FY25However on a quarteronquarter basis revenue slipped 22 per cent from Rs 107510 crore as per its regulatory filingOn the standalone front profit after tax stood at Rs 62329 crore in Q4 FY26 marking a 24 per cent decline yearonyear and a 19 per cent drop sequentiallyStandalone revenue from operations rose modestly by 16 per cent yearonyear to Rs 105048 crore but declined 22 per cent compared to the previous quarterDespite the quarterly dip HDFC AMC posted a strong performance for the full financial year 202526Consolidated profit rose 162 per cent to Rs 285806 crore from Rs 246019 crore in FY25 while revenue from operations increased 178 per cent to Rs 412216 croreThe companyâs operating profit before working capital changes also improved significantly rising to Rs 336980 crore during the year from Rs 282442 crore in the previous financial yearAlongside its results the company announced a final dividend of Rs 54 per equity share of face value Rs 5 each for FY26 subject to shareholder approval at the upcoming annual general meetingThe shares of the company were trading at Rs 26518 down by Rs 119 or 045 per cent In last five days the shares were up by Rs 100 or 392 per cent IANS https://dailyworld.in/business/hdfc-amc-q4-profit-slips-19-pc-sequentially-declares-rs-54-dividend-669816.html Thu, 16 Apr 2026 15:59:00 +0530 https://dailyworld.in/business/gujarat-accounts-for-83-pc-of-indias-gdp-says-cm-patel-at-trade-expo-inauguration-669817.html Gandhinagar April 16 Gujarat contributes 83 per cent to Indiaâs gross domestic product GDP along with 18 per cent of the countryâs industrial output and 31 per cent of exports Chief Minister Bhupendra Patel said on Thursday after inaugurating a threeday trade expo in the state capital Addressing the opening of the Gujarat Advanced Technology and Economy Expo GATE 2026 organised by the Gujarat Chamber of Commerce and Industry GCCI Patel said The stateâs economic performance reflects a development model built on the integration of trade and tradition commerce and culture and industry and entrepreneurship under the guidance of Prime Minister Narendra ModiThe event being held from April 16 to 18 at an exhibition centre in Gandhinagar spans 18000 square metres and features more than 16 sectors including automobiles renewable energy information technology pharmaceuticals and textiles with a specific focus on artificial intelligence and cyber securityCM Patel said the expo themed Gujarat Vision Global Ambition is expected to provide a platform for micro small and medium enterprises MSMEs and young entrepreneurs to expand from local markets to global opportunitiesHe expressed confidence that such initiatives would strengthen the stateâs industrial ecosystemReferring to the Vibrant Gujarat summit CM Patel said its continued success has helped position Gujarat as âa global gateway to the futureâHe added that industry bodies such as GCCI play a key role in policymaking by providing groundlevel feedback and have worked in coordination with the state government in both planning and execution of such initiativesGujarat is advancing in emerging sectors including green growth renewable energy electric vehicle manufacturing and semiconductors in line with the national objective of Make in India Made for the World he notedCM Patel also noted that Gujarat is the first state to prepare a Developed Gujarat 2047 roadmap based on the principle of âearning well living wellâ to contribute to the broader goal of a developed IndiaGCCI President Sandeep Engineer said the event marks an important step towards strengthening industrial development in Gujarat and advancing the vision of Viksit Gujarat to Viksit BharatAround 610 exhibitors have registered for the expo with more than 30000 visitors already signed up and the number is expected to reach 50000 he said IANS https://dailyworld.in/business/gujarat-accounts-for-83-pc-of-indias-gdp-says-cm-patel-at-trade-expo-inauguration-669817.html Thu, 16 Apr 2026 16:00:00 +0530 https://dailyworld.in/business/imf-cuts-pakistan-growth-forecast-to-35-pc-raises-inflation-outlook-669827.html New Delhi April 16 The International Monetary Fund IMF lowered Pakistanâs economic growth forecast to 35 per cent for the fiscal year 202627 and raised its inflation outlook a report has said In its latest World Economic Outlook released during the Spring Meetings the IMF cut down the growth projection from its earlier estimate of 41 per cent citing the impact of the ongoing Middle East conflict while warning that the global economy could face significant disruptions if the war escalatesFor the current fiscal year the growth forecast has been retained at 36 per cent broadly in line with projections by other global institutions as per The Express Tribune reportThe global lender also raised Pakistanâs inflation forecast to 84 per cent for the next fiscal year up from 7 per cent estimated earlierFor the ongoing fiscal year inflation is now expected to come in at 72 per cent higher than the previous projection of 63 per centThe elevated inflation outlook could put pressure on the countryâs central bank to maintain or tighten interest rates as per the reportThe IMF further revised Pakistanâs external outlook more than doubling the current account deficit projection to 09 per cent of GDP or roughly 5 billion for the next fiscal year while maintaining the estimate at 04 per cent for the current yearThe report noted that Pakistan remains particularly vulnerable to the Middle East conflict as it sources nearly 90 per cent of its energy imports from the regionRising oil and gas prices coupled with supply disruptions are expected to strain the countryâs macroeconomic stabilityBeyond Pakistan the IMF warned of broader risks to the global economy Under its baseline scenario global growth is projected at 31 per cent in 2026 and 32 per cent in 2027 lower than the recent average of around 34 per centGlobal inflation is expected to rise to 44 per cent in 2026 before easing to 37 per cent in 2027 as per the report IANS https://dailyworld.in/business/imf-cuts-pakistan-growth-forecast-to-35-pc-raises-inflation-outlook-669827.html Thu, 16 Apr 2026 16:41:00 +0530 https://dailyworld.in/business/10-year-yield-may-dip-below-7-pc-as-gdp-seen-at-71-pc-report-669829.html New Delhi April 16 Indias benchmark 10year government bond yield could ease below the 7 per cent mark by June even as nearterm volatility persists due to global and domestic factors a report said on Thursday As per the analysis of Crisil Intelligence bond yields witnessed significant volatility in March driven by a sharp rise in crude oil prices and heightened geopolitical tensions which pushed the benchmark yield to its highs for the current financial yearHowever easing inflationary pressures supportive liquidity conditions and policy expectations are likely to help stabilise yields in the coming months it saidThe report added that in its base case Indiaâs gross domestic product GDP growth is expected at 71 per cent in the current fiscal supported by healthy private consumption and steady investment growthExport growth is also expected to benefit from lower US tariffs although disruptions to global trade due to the West Asia conflict and slower global growth may act as a dragIt further noted that government measures to cap retail fuel prices could support consumptionOn inflation Crisil projected CPI inflation to average 45 per cent in fiscal 2027It said domestic liquidity remains comfortable which is expected to act as a cushion against external shocks even as global uncertainties continue to weigh on sentimentThe report also highlighted that crude oil prices and geopolitical developments particularly in West Asia remain key risk factors for the bond market Elevated oil prices could stoke inflation concerns and limit the pace of any decline in yields it saidAt the same time global cues including movements in US Treasury yields and the US Federal Reserveâs policy trajectory are expected to play a crucial role in shaping the direction of Indian bond yieldsOn the domestic front the Reserve Bank of Indiaâs RBI liquidity management measures and policy stance will be closely watched with the central bank expected to play a stabilising role amid volatile conditionsCrisil added that its base case assumes the Monetary Policy Committee MPC will maintain policy rates during the current fiscalDespite these headwinds Crisil maintained that the outlook remains moderately positive with yields expected to gradually soften as macroeconomic conditions improve and volatility subsides IANS https://dailyworld.in/business/10-year-yield-may-dip-below-7-pc-as-gdp-seen-at-71-pc-report-669829.html Thu, 16 Apr 2026 16:42:00 +0530 https://dailyworld.in/business/indian-railways-setting-new-benchmarks-pm-modi-669845.html New Delhi April 16 Prime Minister Narendra Modi on Thursday highlighted that Indian Railways has undergone a fundamental shift and is setting new benchmarks through sustained reforms and technology In this context he shared an article written by Union Minister Ashwini Vaishnaw on how the safety ecosystem of Indian Railways has been transformed in the past decade through clear policy the induction of modern technology and continuous injection of fundsThe Prime Ministerâs Office posted on X âThe Indian Railway ecosystem has undergone a fundamental shift and the results are right in front of us Union Minister AshwiniVaishnaw writes how this sector is setting new benchmarks through sustained reforms and technologyFor many of these passengers a railway journey is not a choice but a necessity In a system that carries such volumes across vast distances safety is not a technical metric It is a matter of public trust it addedThe article highlights that during PM Modiâs first term in office a clear message was given that Indian Railways would place âSafety Firstâ In pursuit of this goal the organisation has pursued a techled consistentlyfunded transformation of its safety ecosystemConsequently the train accident rate has come down sharply in the country In 201415 Indian Railways recorded 135 such accidents which has come down to 16 in 202526 a reduction of 89 per cent The decline in the number of accidents has taken place even as the number of train operations and passenger volumes has gone upDuring this period the consequential accident index which measures accidents per unit of train running distance has dropped from 011 to 001 indicating a system far safer for every kilometre runAlso in 201415 rail accidents claimed 292 lives while in 202526 only 16 lives were lost in 16 accidents that took place Emphasising the importance that Indian Railways occupies in the lives of the people the minister wrote âEvery morning as India wakes up its railways are already in motion More than two crore passengers step onto the countryâs trains each day from officegoers students and migrant workers to families and soldiersâ IANS https://dailyworld.in/business/indian-railways-setting-new-benchmarks-pm-modi-669845.html Thu, 16 Apr 2026 17:29:00 +0530 https://dailyworld.in/business/gold-holds-steady-amid-easing-us-iran-tensions-silver-gains-on-mcx-669485.html Mumbai April 15 Gold prices remained largely steady on Wednesday as improving prospects of easing geopolitical tensions between the United States and Iran kept investor sentiment in check During early trade MCX gold May futures were marginally higher by 002 per cent at Rs 153305 per 10 gramsCommenting on gold technical outlook experts said that a sustained move above Rs 155000 could revive momentum toward Rs 157000Rs 158000âOn the downside a break below Rs 154000 may lead to a corrective move toward Rs 152000 and further to Rs 150000â an analyst statedSilver prices however saw stronger buying interest with MCX silver May futures rising 083 per cent to Rs 254842 per kgâResistance is placed at Rs 260000âRs 263000 with further upside toward Rs 268000âRs 270000â a market expert saidâA sustained move above these levels could strengthen momentum and support further gains On the downside a break below Rs 248000 may lead to a corrective move toward the Rs 244000âRs 240000 rangeâ as per an analystIn the previous session gold had ended flat at Rs 153216 per 10 grams while silver futures slipped 01 per cent to Rs 225499 per kgGlobally the yellow metal held on to its recent gains amid optimism that Washington and Tehran could move towards a negotiated settlement to the conflict that began on February 28The easing of tensions has reduced fears of a sharp energysupply shock which had earlier raised concerns about inflationary pressuresSpot gold hovered near 4850 an ounce after rising as much as 06 per cent during the session The metal had surged over 2 per cent in the previous trading session on expectations that the US and Iran may soon hold a second round of ceasefire talksUS President Donald Trump has indicated that negotiations could resume âover the next two daysâ further boosting hopes of a diplomatic breakthroughDespite the recent stability gold has faced pressure in recent weeks falling nearly 8 per cent since the conflict beganEarly in the crisis a liquidity squeeze prompted investors to offload bullion holdings to cover losses in other asset classes IANS https://dailyworld.in/business/gold-holds-steady-amid-easing-us-iran-tensions-silver-gains-on-mcx-669485.html Wed, 15 Apr 2026 11:52:00 +0530 https://dailyworld.in/business/oil-prices-fall-for-2nd-day-as-donald-trump-signals-possible-us-iran-talks-669487.html Mumbai April 15 IANS Global oil prices declined for a second straight day on Wednesday as optimism grew over a possible resumption of negotiations between the United States and Iran raising hopes of easing supply disruptions in the Middle EastnbspInvestor sentiment improved after US President Donald Trump indicated that talks to end the ongoing conflict involving the US Israel and Iran could resume within the next two days potentially in PakistanThe development follows a breakdown in negotiations over the weekend which had prompted Washington to impose a blockade on Iranian ports fuelling concerns over supply constraints after the closure of the Strait of HormuzAs expectations of renewed dialogue gained traction crude oil prices in the global market slipped below the 95 per barrel markThe global benchmark Brent crude fell to a low of 9442 per barrel during Tuesdays session after witnessing sharp volatility with an intraday high of 9945 per barrel The contract had opened around the 97 per barrel levelSimilarly US benchmark West Texas Intermediate WTI crude also recorded a decline Prices dropped to 8708 per barrel during the session after opening near 98 per barrelDespite hitting higher levels at the start of trading WTI cooled significantly to close around the 90 per barrel rangeThe downward trend in oil prices had begun earlier as reports suggested that Israel and Lebanon were open to further negotiations amid the ongoing West Asia tensionsAdditional cues came after Trump hinted that something could be happening in the next few days reinforcing expectations of diplomatic progressIn early trade on Wednesday Brent crude was hovering at 9466 per barrel down from the previous close of 9513 per barrelMeanwhile WTI crude was trading at around 9065 per barrel compared to its last close of 9128 per barrelIANS https://dailyworld.in/business/oil-prices-fall-for-2nd-day-as-donald-trump-signals-possible-us-iran-talks-669487.html Wed, 15 Apr 2026 12:30:00 +0530 https://dailyworld.in/business/gold-etfs-aum-triples-to-rs-17-lakh-crore-in-march-amid-geopolitical-tensions-669488.html New Delhi April 15 IANS Physical gold may have taken the lead but the precious metal has also surged in the digital space with gold exchangetraded funds ETFs emerging as a favourite among both retail and institutional investors as total assets under management AUM surged to Rs 1714684 crore in March 2026 nearly tripling on a yearonyear basis a report showed on WednesdaynbspAs per the ICRA Analytics analysis the AUM figure represents a fiveyear compound annual growth rate CAGR of 6476 per cent compared to Rs 1412272 crore in March 2021On a yearonyear basis net AUM rose 19118 per cent from Rs 5888799 crore in March 2025 underscoring the accelerating pace of goldlinked investment in India it saidMoreover net inflows into gold ETFs stood at Rs 226568 crore in March 2026 a sharp reversal from net outflows of Rs 7721 crore recorded in the same period last year Meanwhile inflows were a more modest Rs 66245 crore in March 2021However on a monthonmonth basis inflows moderated significantly and declined by 5688 per cent from Rs 525495 crore in February 2026 as gold prices underwent a shortterm correction and global risk sentiment eased temporarilyICRA Analytics Senior Vice President and Head of Market Data Ashwini Kumar attributed the surge in investor interest to the dual pull of global uncertainty and strong gold price performanceGold ETFs have seen a clear rise in preference during the recent phase of heightened geopolitical volatility and sharp gold price appreciation as investors both retail and institutional have actively used them as a defensive and tactical allocation within portfolios he saidThis preference has been driven by the dual impact of global uncertainty and strong returns from gold which reinforced its traditional role as a safehaven asset he addedAdditionally there are currently 26 gold ETF schemes available in the market of which six were launched in the financial year 202526Average oneyear returns across most funds range from approximately 5881 per cent to 6285 per cent while fiveyear CAGR returns range from around 2578 per cent to 2611 per centDespite the monthonmonth dip in inflows Ashwini Kumar said investor commitment to the asset class remained structurally intactEven during periods of shortterm correction Gold ETFs retained investor relevance Although inflows moderated sharply in February and March 2026 due to gold price correction and a temporary easing of global risk aversion flows nonetheless remained positive indicating that investor interest had not structurally reversed he saidAshwini Kumar also drew a distinction between ETFbased and physical gold investments advocating for the former as a financial instrumentGold ETFs are better suited for investment portfolio diversification and tactical asset allocation while physical gold is more appropriate for consumption and longterm holding driven by cultural preference For most financial investors Gold ETFs offer a cleaner more efficient and transparent way to gain exposure to gold prices he saidIANS https://dailyworld.in/business/gold-etfs-aum-triples-to-rs-17-lakh-crore-in-march-amid-geopolitical-tensions-669488.html Wed, 15 Apr 2026 13:32:00 +0530 https://dailyworld.in/business/air-india-seeks-fresh-funding-from-tata-group-singapore-airlines-report-669518.html New Delhi April 15 IANS Air India has reported a widerthanexpected annual loss of over Rs 22000 crore 24 billion or Rs 220 billion for FY26 prompting the airline to seek fresh capital support from its shareholders including Tata Group and Singapore Airlines a report has saidnbspThe loss for the financial year ended March 31 significantly exceeded earlier internal estimates and comes amid a series of operational and geopolitical disruptions that weighed heavily on the airlines performanceAccording to Bloomberg report Air India is currently in discussions with its key shareholders for a potential cash infusionWhile the exact size of the funding is yet to be finalised the report indicated that the planned support may fall short of the airlines overall requirementsThe financial strain comes at a critical time for the airline which has been undergoing a major transformation under the Tata Group since its acquisitionThe situation has been further complicated by leadership uncertainty with CEO Campbell Wilson recently announcing plans to step down later this yearA combination of external shocks contributed to the mounting losses These included the closure of Pakistani airspace for Indian carriers which forced Air India to take longer and costlier routes to Europe and the United StatesAdditionally a deadly crash involving a Boeing 787 Dreamliner in June which resulted in over 240 fatalities severely impacted operations and led to a reduction in both international and domestic servicesThe airline was also affected by global geopolitical tensions particularly the conflict in the Middle East which disrupted routes in a region accounting for around 16 per cent of its total capacityFlights to Europe and North America were further impacted increasing operational costs at a time when jet fuel prices were risingThe airlines performance has also had a ripple effect on Singapore Airlines which holds a 251 per cent stake following the merger of Vistara with Air India in 2024 with its earnings reportedly impacted by the carriers deteriorating financialsIANS https://dailyworld.in/business/air-india-seeks-fresh-funding-from-tata-group-singapore-airlines-report-669518.html Wed, 15 Apr 2026 14:30:00 +0530 https://dailyworld.in/business/domestic-innovation-drives-indias-patent-filings-to-record-levels-669521.html New Delhi April 15 IANS Indias patent ecosystem is showing signs of structural strengthening reflecting sustained growth in domestic innovation and wider intellectual property awareness according to a reportnbspAs per the Indian Narrative report startups MSMEs and educational institutions receive an 80 per cent reduction in patent filing fees while expedited examination is available for startups MSMEs female applicants and government institutions categories that have historically been underrepresented in formal IP filingsIn addition the National Intellectual Property Awareness Mission has conducted approximately 9500 awareness programmes across all states and Union Territories reaching over 25 lakh students and faculty members the report saidRecently Union Commerce and Industry Minister Piyush Goyal showed that of the total filings 99721 or around 70 per cent were from Indian residents while foreign filings stood at 44008Moreover the figures mark the highestever annual patent filing count for the country and extend a multiyear growth trend that the government attributes to policy reforms reduced fees and wider intellectual property awarenessHighlighting the data Goyal framed the milestone as evidence of a structural shift in Indias innovation identity from a manufacturing and services destination to an originator of commercially usable ideasDomestic patent filings by Indian citizens have risen from 24326 in FY2021 to 68176 in FY2425 a jump of roughly 180 per cent over five years before the further acceleration seen in FY26The government has simplified patent rules shortened the requestforexamination window from 48 months to 31 months and made electronic filing mandatory for patent agentsFee concessions have played a significant role in widening participationStatewise Tamil Nadu led all states in patent filings in FY 202526 followed by Karnataka and Maharashtra with meaningful contributions from Punjab Uttar Pradesh and TelanganaIANS https://dailyworld.in/business/domestic-innovation-drives-indias-patent-filings-to-record-levels-669521.html Wed, 15 Apr 2026 14:42:00 +0530 https://dailyworld.in/business/indian-railways-reach-996-pc-electrification-transports-741-crore-passengers-in-2025-26-669526.html New Delhi April 15 IANS Indian Railways has electrified 996 per cent of its broad gauge network operates about 25000 trains daily and has carried 741 crore passengers in 202526 the government said on WednesdaynbspIn 202526 the total revenue reached approximately Rs 80000 crore while freight movement touched a record 1670 million tonnes MT according to an official statementOnly about 20 per cent of Indias railway network was electrified by 2014 limiting operational efficiency with increased reliance on diesel fuel As much as 69873 route kilometres rkm have been electrified as of March 2026 up from 21801 rkm in 2014Railway electrification saved approximately 180 crore litres of diesel in 202425 cutting crude oil imports and producing savings of around Rs 6000 crore the government saidThe countrys electrification levels now exceed those of the UK 39 per cent Russia 52 per cent and China 82 per centKavach Automatic Train Protection System commissioned over 3100 route kilometres with implementation underway on an additional 24400 kilometresThe Video Surveillance System VSS has been expanded to 1874 railway stations using AIbased analytics and facial recognition technology to strengthen passenger safety and monitoringThe Integrated Passenger Information System IPIS linked with the National Train Enquiry System NTES has been implemented at 1405 stations ensuring timely announcements and better passenger communicationTrack infrastructure has witnessed strategic strengthening over the past decade A total of 54600 kilometres of railway tracks were renewed during 201426 improving reliability and operational performance the statement saidThe track length capable of supporting speeds above 110 kmph rose from 31445 km to more than 85000 km enabling faster and more efficient operationsThe Vande Bharat Sleeper service launched in January 2026 carried 121 lakh passengers across 119 trips in its first three months of operationApproximately 398 crore passengers travelled on the Vande Bharat Express network in FY 202526 demonstrating strong growth in passenger usage Since its inception the Vande Bharat Express has carried over 91 crore passengers through 1 lakh tripsTo provide affordable transportation for low and middleincome families Indian Railways has introduced the Amrit Bharat Express fully nonAC modern trains designed to improve comfort and safety while maintaining economical travel optionsAs of March 18 2026 60 Amrit Bharat Express services are run across the Indian Railways networkIANS https://dailyworld.in/business/indian-railways-reach-996-pc-electrification-transports-741-crore-passengers-in-2025-26-669526.html Wed, 15 Apr 2026 14:55:00 +0530 https://dailyworld.in/business/the-connected-future-how-realme-is-strengthening-its-portfolio-669531.html New Delhi April 15 In todayâs time brands are no longer only competing only on products they are competing with each other on connected experiences Instead of focusing on isolated products consumers are keen on a connected ecosystem where everything works together seamlessly This is becoming particularly relevant amongst Indian consumers who with rising digital adoption higher disposable income has started to make tech ecosystems a lifestyle choiceBrands today are no longer just selling standalone products they are building connected ecosystems that simplify everyday life By integrating multiple aspects into a seamless experience they are not only addressing evolving consumer needs but also creating a sense of belonging and emotional connection that goes beyond functionalityThis is where AIoT the coming together of Artificial Intelligence and the Internet of Things starts to matter What once sounded futuristic has become an everyday expectation especially for Gen Z People no longer look for just smart devices rather they want devices that understand usage patterns connect with each other and fit naturally into their daily routinesSimilarly realme has also adopted this model by focusing on a lot more than a product The brand has built a product ecosystem for consumers offering a seamless experience across devices keeping interconnectivity in mind Devices ranging from smartphones truly wireless stereo TWS to pads realme has created a highvalue product ecosystem worthy of your attentionRecently launched TWS such as the realme Buds Clip offering allday comfort and style put together with the powerpacked realme Pad 3 make a perfect combination for a seamless work day realme is also all set to expand its TWS segment with the realme buds T500 Pro a compact and budget TWS with advanced noise cancellation and highres audio quality which when coupled with a realme smartphone make for an ideal travel companion The TWS segment has improved massively now to ensure offerings like the realme Buds T500 Pro that comes with 3 device connectivity in a compact form factor and EQ modes for personalisationAs the lines between work entertainment and lifestyle continue to blur consumers are increasingly seeking devices that donât just perform well individually but work better together realmeâs growing smart ecosystem reflects this shift offering an experiencefirst setupBy integrating smartphones audio devices and tablets into a cohesive ecosystem realme is not only enhancing convenience but also enabling smarter more intuitive interactions across touchpoints This interconnected approach ensures that users spend less time managing devices and more time enjoying them realmeâs growing AIoT portfolio reflects a larger shift in the industry The focus is moving beyond standalone devices to building experiences that are connected responsive and easy to live withLooking ahead the strength of any tech brand will lie in how seamlessly it can unify its offerings With a clear focus on accessibility design and interdevice synergy realme is positioning itself as a key player in building the connected future for Indiaâs next generation of users IANS https://dailyworld.in/business/the-connected-future-how-realme-is-strengthening-its-portfolio-669531.html Wed, 15 Apr 2026 14:59:00 +0530 https://dailyworld.in/business/maruti-suzuki-india-crosses-1-300-women-employees-boosts-shopfloor-diversity-669533.html New Delhi April 15 Maruti Suzuki India Limited on Wednesday announced that it has strengthened its push for gender diversity with its total women workforce across functions surpassing 1300 driven by increased hiring on the shopfloor at its Gurugram and Manesar facilities The company has made notable progress over the past two years by systematically increasing the recruitment of women in vehicle manufacturing as well as engine and transmission rolesThese hires are now actively contributing on the shopfloor handling responsibilities across assembly lines and quality control processes where precision and consistency are criticalMaruti Suzuki said women employees undergo the same level of onthejob training and skill development programmes as their male counterparts ensuring equal opportunities for career growth within the organisationCommenting on the development Managing Director and CEO Hisashi Takeuchi said the company has traditionally maintained a healthy representation of women across functions such as engineering marketing and sales finance legal logistics and supply chainHowever he emphasised that true integration is reflected on the shopfloor where employees directly contribute to building highquality vehiclesâHowever real integration happens on the shopfloor when they work on building highquality vehicles with precision and care It is my personal wish to strengthen women representation at the shopfloorâ Takeuchi addedHe added that the company aims to further strengthen womenâs participation in manufacturing roles and has taken several steps to create a supportive ecosystemA detailed internal assessment was conducted to understand specific requirements following which infrastructure upgrades were introduced to improve convenience and safetyThese measures include dedicated restrooms changing areas crÃche facilities and enhanced security arrangements such as guards and patrolling during evening shiftsIn addition the company has rolled out sensitisation programmes for employees to foster an inclusive work culture and ensure openness across teamsMaruti Suzuki also mandates 100 per cent participation in Prevention of Sexual Harassment POSH training to reinforce workplace safety and awareness IANS https://dailyworld.in/business/maruti-suzuki-india-crosses-1-300-women-employees-boosts-shopfloor-diversity-669533.html Wed, 15 Apr 2026 15:01:00 +0530 https://dailyworld.in/business/worldwide-pc-shipments-rise-4-pc-in-q1-report-669540.html New Delhi April 15 Worldwide PC shipments grew 4 per cent yearonyear YoY to 628 million units in the first quarter of 2026 a report said on Wednesday The data compiled by Gartner noted that the growth in PC shipments during the JanuaryâMarch quarter was not entirely reflective of real consumer demandInstead vendors and channel partners increased inventory levels in anticipation of rising component costs in the second quarter of 2026Rishi Padhi Research Principal at Gartner said the yearonyear growth was âartificially inflatedâ primarily due to stockpiling ahead of price increases driven by rising memory prices commonly referred to as memflation along with higher costs of DRAM and NAND flash componentsHe added that this trend was particularly visible in lowermargin PC segmentsThe comparison base also influenced the growth figures as the first quarter of 2025 had seen elevated shipments due to frontloading ahead of US tariffs further distorting the yearonyear trendIn terms of vendor performance there were no significant changes among the top four global PC makersLenovo maintained its leadership position in worldwide shipments while HP Inc retained the second spot despite losing some market shareDell Technologies also recorded gains in market share during the quarterAmong the major vendors Apple emerged as the fastestgrowing player posting a 127 per cent yearonyear increase in shipmentsThe growth was largely driven by strong demand for its MacBook Neo lineup particularly among new users and the education segmentâThis performance was primarily driven by robust demand for the MacBook Neo particularly among new Mac users and buyers in the education sectorâ Padhi statedâThis strategic positioning enabled Apple to attract costconscious consumers seeking highperformance devices further solidifying its competitive advantage in the segmentâ he addedThe report highlighted that this strategic positioning helped Apple attract costconscious buyers looking for highperformance devices strengthening its competitive position in the global PC marketMeanwhile ASUS moved ahead of Acer to secure the fifth position in global vendor rankings during the quarter IANS https://dailyworld.in/business/worldwide-pc-shipments-rise-4-pc-in-q1-report-669540.html Wed, 15 Apr 2026 15:08:00 +0530 https://dailyworld.in/business/govt-weighs-fuel-price-stabilisation-mechanism-to-curb-volatility-in-petrol-diesel-lpg-669541.html New Delhi April 15 IANS The Centre is reportedly considering a new fuel price stabilisation mechanism aimed at protecting consumers from sharp fluctuations in petrol diesel and LPG prices amid rising global energy volatilitynbspThe proposal which is currently under discussion among key ministries seeks to establish a dedicated buffer system that can be deployed during periods of extreme price swings according to NDTV Profit reportThe move comes as geopolitical tensions in West Asia continue to disrupt global energy supply chains pushing up crude oil prices and heightening inflation risks for importdependent economies like IndiaThe report said that the proposed framework is likely to be modelled on the existing price stabilisation system used for agricultural commoditiesUnder that mechanism buffer stocks are created and released into the market during periods of sharp price rise to ease volatilityA similar approach is now being explored for fuels with the objective of shielding consumers from sudden spikes rather than allowing full and immediate passthrough of global price shocksThe plan involves setting up a separate fuel buffer fund covering petrol diesel and LPGThe report said that this mechanism would be distinct from Indias strategic crude oil reserves which are primarily meant to ensure supply security during severe disruptions and not for managing price fluctuationsDeliberations are ongoing between the Ministry of Petroleum and Natural Gas the Ministry of Consumer Affairs and other departments regarding the structure of the fund and the criteria for interventionThese could include predefined thresholds linked to global crude prices or volatility indicators in international energy marketsThe report indicated that the intent is not to introduce a permanent subsidy regime but to moderate extreme volatility and protect household consumption during periods of stressAny intervention under the mechanism is expected to be temporary and calibrated with buffers replenished when price conditions stabiliseIANS https://dailyworld.in/business/govt-weighs-fuel-price-stabilisation-mechanism-to-curb-volatility-in-petrol-diesel-lpg-669541.html Wed, 15 Apr 2026 15:22:00 +0530 https://dailyworld.in/business/indian-stock-markets-remain-closed-on-ambedkar-jayanti-669223.html Mumbai April 14 Indian stock market exchanges remained closed on Tuesday on account of Dr BR Ambedkar Jayanti the second trading holiday in the current financial year FY27 and in April Both the bourses NSE and BSE suspended trading across equity equity derivatives and currency segments for the dayIn the commodities segment the Multi Commodity Exchange of India MCX also remained shut in the morning session However it will resume trading in the evening session between 5 pm and 1130 pmMeanwhile the National Commodity and Derivatives Exchange NCDEX remained closed for both morning and evening sessionsTrading across the exchanges will resume on Wednesday April 15In the previous session the domestic benchmark indices ended in the negative territory with the 30scrip basket declining 091 per cent to close at 76847 while the 50share index fell 086 per cent to settle at 23842As per the 2026 holiday calendar the next stock market holiday will be observed on May 1 for Maharashtra Day followed by a closure on May 28 on account of Eid alAdha Bakri EidEarlier this year markets remained shut on multiple occasions including for Holi Ram Navami and Mahavir Jayanti in MarchSeparately the government declared April 14 as a public holiday for all central government offices to mark Ambedkar JayantiMeanwhile global markets traded in the green In Asia Japanâs Nikkei Hong Kongâs Hang Seng and South Koreaâs KOSPI were trading over 2 per cent 05 per cent and 3 per cent higher respectivelyIn the US both the SampP 500 and the Nasdaq settled over 1 per cent higherIn contrast Brent crude futures were trading about 1 per cent lower at 9827 per barrel at 9 am while US WTI crude declined nearly 2 per cent to 9724 IANS https://dailyworld.in/business/indian-stock-markets-remain-closed-on-ambedkar-jayanti-669223.html Tue, 14 Apr 2026 09:41:00 +0530 https://dailyworld.in/business/global-gold-and-silver-prices-jump-up-to-2-pc-amid-geopolitical-tensions-669231.html Mumbai April 14 Global gold and silver prices rebounded on Tuesday after a twoday decline rising up to 2 per cent amid easing concerns over inflation following signs of a potential diplomatic resolution to the ongoing USIran conflict In the international market COMEX gold rose as much as 074 per cent or 354 to hit an intraday high of 480280 at 930 am local time recovering most of the losses seen in the previous two sessionsSimilarly COMEX silver gained 2 per cent to trade at 7716 per ounce hitting an intraday highThe recovery in bullion prices came even as geopolitical tensions remained elevatedEarlier the US had initiated a naval blockade of the Strait of Hormuz President Donald Trump said Iranian officials had reached out to his administration signalling willingness to negotiate a dealAccording to reports Iranian President Masoud Pezeshkian indicated that Tehran remains open to continuing peace talks within the framework of international lawMeanwhile global crude oil prices slipped below the 100 per barrel mark while equities advancedBrent crude futures on Tuesday traded at 966 per barrel down 277 per cent while US WTI crude fell more than 3 per cent to 9569Wall Street witnessed strong gains with both the major indices the SampP 500 and the Nasdaq ending more than 1 per cent higher In Asian markets Japanâs Nikkei Hong Kongâs Hang Seng and South Koreaâs KOSPI rose as much as 26 per cent 13 per cent and 35 per cent respectivelyHowever analysts remain cautious as the US blockade of the Strait of Hormuz continues to raise fears of supply disruptions and broader economic stressThe Multi Commodity Exchange MCX remained closed on Tuesday in the morning session and will resume trading in the evening session between 5 pm and 1130 pmMoreover domestic stock exchanges the BSE and the NSE are closed on the account of Dr BR Ambedkar Jayanti IANS https://dailyworld.in/business/global-gold-and-silver-prices-jump-up-to-2-pc-amid-geopolitical-tensions-669231.html Tue, 14 Apr 2026 10:24:00 +0530 https://dailyworld.in/business/crude-oil-trade-3-pc-lower-on-hopes-of-fresh-us-iran-talks-669249.html Mumbai April 14 IANS International crude oil prices on Tuesday pared their gains falling up to 3 per cent on hopes of renewed USIran dialogue to end the conflict which helped ease concerns over supply risks linked to the US blockade of the Strait of HormuznbspGlobal benchmark Brent crude futures traded at 966 per barrel down 277 per cent while US West Texas Intermediate WTI crude declined more than 3 per cent to 9569 hitting an intraday low in early tradeIn the previous session oil prices also settled in negative territory with Brent crude down 364 per cent at 9936 and WTI crude closing at 9657 lower by 779 per centEarlier crude prices had witnessed strong gains On April 12 the oil benchmarks had surged more than 8 per cent after US President Donald Trump announced a blockade of Irans portsHowever reports on Monday indicated that the US militarys blockade of the Strait of Hormuz could extend eastwards to the Gulf of Oman and the Arabian SeaMeanwhile shiptracking data showed that two vessels turned around in the strait after the blockade came into effectThe dialogue between the US and Iran remains active Trump also said on Monday that Iran wants to make a dealFollowing this bullion prices rose with gains of up to 2 per cent COMEX gold increased 074 per cent to 48028 while COMEX silver advanced 2 per cent to 7716 per ounceOn the domestic front equity markets remained closed on account of Dr BR Ambedkar JayantiThe Multi Commodity Exchange MCX was also closed in the morning session and will resume trading in the evening session from 5 pm to 1130 pmMeanwhile Bitcoin prices surged to a fourweek high as risk assets rallied on optimism that the US could reach an agreement with Iran to resolve the conflictIANS https://dailyworld.in/business/crude-oil-trade-3-pc-lower-on-hopes-of-fresh-us-iran-talks-669249.html Tue, 14 Apr 2026 12:16:00 +0530 https://dailyworld.in/business/adani-green-energy-achieves-highest-esg-score-of-873-among-indian-companies-669253.html Ahmedabad April 14 Highlighting its leadership in environmental social and governance ESG climate strategy resource stewardship and transparency Adani Green Energy Limited AGEL has received the ESG 1 rating with a score of 873 from CARE ESG Ratings Limited CareEdgeESG which is a Securities and Exchange Board of India SEBIregistered ESG rating provider The score places AGEL at the top among all Indian companies assessed by CareEdgeESGThe rating reflects the companys leadership in integrating sustainability across its operations as a large utilityscale renewable energy developer CareEdgeESGâs evaluation is based on a comprehensive assessment of environmental social and governance risks and opportunities benchmarking companies across multiple indicators and industry peers The assessment highlights strong performance across climate risk management water stewardship waste management biodiversity conservation and governance practices supported by transparent disclosures and structured oversight mechanisms The rating underscores AGELâs structured approach to managing environmental and social risks through welldefined policies management systems and enterprisewide integration of ESG considerationsAt a broader level the recognition reflects a shift within the Adani Group towards embedding sustainability across its infrastructureled portfolio including renewable energy ports logistics and utilities ESG integration is increasingly shaping governance practices risk management frameworks and longterm capital allocation across businessesThe CareEdgeESG rating also enhances AGELâs positioning with investors and lenders particularly in a capital environment where sustainability performance is increasingly linked to access to financing The rating is expected to support the companyâs ability to mobilise sustainable and transitionlinked capital for largescale renewable energy projectsIn a CareEdgeESG press release Ashish Khanna Chief Executive Officer Adani Green Energy Limited said that Receiving the highest ESG score is a strong endorsement of Adani Green Energys commitment to integrating sustainability at scaleâ âThis recognition validates our disciplined approach to ESG governance proactive climaterisk management and longterm value creation for all stakeholders Our certification across zero wastetolandfill singleuse plasticfree and net waterpositive operations demonstrates that largescale renewable energy development can be both responsible and resilientâ he added According to Saikat Roy Chief Executive Officer CareEdgeESG Adani Green Energy Limiteds ESG rating reflects the companys strong commitment to integrating sustainability considerations into its renewable energy operations and longterm growth strategyâ âAGELs performance demonstrates structured governance of environmental and social risks supported by welldefined policies management systems and transparent disclosures aligned with leading sustainability frameworks strengthening its credibility with investors and lenders in an evolving investment landscape where access to capital is increasingly influenced by sustainability performanceâ said Roy IANS https://dailyworld.in/business/adani-green-energy-achieves-highest-esg-score-of-873-among-indian-companies-669253.html Tue, 14 Apr 2026 12:31:00 +0530 https://dailyworld.in/business/govt-tweaks-iron-ore-rules-to-boost-low-grade-ore-utilisation-669255.html New Delhi April 14 In a move to reduce wastage and promote utilisation of lowgrade iron ore the government has amended rules to revise pricing norms for such ore the Ministry of Mines said on Tuesday The amendment provides a framework for pricing iron ore with iron Fe content below the threshold level of 45 per cent including Banded Haematite Quartzite BHQ and Banded Haematite Jasper BHJ it saidUnder the revised rules the average selling price ASP for iron ore with 35 per cent to below 45 per cent Fe content will be fixed at 75 per cent of the ASP of 45 per cent to below 51 per cent grade oreWhile for ore with Fe content below 35 per cent the ASP will be 50 per cent of the same benchmarkMoreover the threshold value refers to the minimum grade below which mined material is typically treated as wasteHowever with advancements in beneficiation technologies lowgrade iron ore including BHQ and BHJ can now be processed into usable highgrade material for steelmakingPrior to the amendment there was no separate pricing mechanism for such lowgrade oresAs a result the ASP of highergrade ore 45â51 per cent Fe was used for royalty and other levies making beneficiation economically unviable according to the governmentIt further said that the new framework aims to correct this anomaly and incentivise the scientific and optimal utilisation of lowgrade iron ore resourcesThe government also noted that bringing such resources into the usable category will help address concerns over the depletion of highgrade reserves ensure steady raw material supply to the steel industry and support mineral conservationThe amendment in the new framework has also clarified that in cases where processing of runofmine ROM ore leads to a reduction in its economic value royalty will be levied on lumps and fines after initial screening of the unprocessed materialThe clarification ensures that the economic value of minerals is not artificially reduced under the guise of processing the ministry said IANS https://dailyworld.in/business/govt-tweaks-iron-ore-rules-to-boost-low-grade-ore-utilisation-669255.html Tue, 14 Apr 2026 12:32:00 +0530 https://dailyworld.in/business/indias-listed-hotel-operators-to-add-over-70-000-keys-by-2030-report-669262.html New Delhi April 14 IANS Indias listed hotel operators are expected to add over 70000 keys by 2030 as the sector moves from postpandemic recovery into structural maturity a report said on TuesdaynbspThe report from CBRE South Asia Pvt Ltd said the sectors market size is expected to rise from 246 billion in 2024 to around 31 billion by 2029 driven by domestic tourism which posted a 40 per cent YoY rise to 41 billion visits in 2025The supply pipeline in 2025 shifted decisively towards premiumisation addressing the heightened consumer appetite for luxury experience Upper Midscale Upper Upscale and Upscale categories accounted for about 60 per cent of new openings last yearThe report noted that the hospitality sector is transitioning from a phase of postpandemic recovery into structural maturity characterised by disciplined expansion and pricing stabilityThe total hotel deal value grew 25fold YoY in 2025 to roughly 456 million Since 2024 Indias hospitality sector has witnessed a substantial surge in investment activity with institutional players aggressively acquiring large stakesThe hospitality sectors trajectory is a testament to Indias economic resilience supported by rising disposable incomes and improving accessibility facilitated by largescale infrastructure development said Anshuman Magazine Chairman ampamp CEO India SouthEast Asia Middle East ampamp Africa CBREAs the industry accelerates its transition towards experiencedriven travel and captures institutionalised demand across spiritual and cultural centres he added forecasting robust and longterm expansion for the countrys hospitality ecosystemThe sector maintained strong growth momentum throughout 2025 despite yearend headwinds such as geopolitical tensions and operational disruptions in the aviation sectorOccupancy averaged around 64 per cent in 2025 with revenue per available room surging 11 per cent YoY and average daily rates up 87 per cent the report saidInvestor interest is increasingly shifting towards diversification into leisure destinations pilgrimage centres and emerging commercial cities with a constrained supply of branded inventory said Rami Kaushal Managing Director Consulting ampamp Valuations India Middle East ampamp Africa CBREIANS https://dailyworld.in/business/indias-listed-hotel-operators-to-add-over-70-000-keys-by-2030-report-669262.html Tue, 14 Apr 2026 13:15:00 +0530 https://dailyworld.in/business/us-blockade-likely-to-cut-off-2-million-barrels-a-day-of-iran-oil-from-market-669272.html New Delhi April 14 IANS With the US military starting its blockade of Irans ports around two million barrels of Iranian oil per day is expected to be shut out from the worlds markets tightening global supply and leading to a further rise in prices of petroleum products according to reportsnbspA complete blockade of the Strait of Hormuz may also impact LPG supplies for India as over the past month the country managed to have at least eight LPG tankers safely crossed through the strait wrote Bineet Banka an analyst tracking the sector at Nomura in a recent noteUS President Donald Trump has also announced the US will not allow any ships to pay a toll to Iran for passing through the Strait of Hormuz While India has not paid any toll for its LPG ships that have just sailed through the Strait it remains to be seen how the situation unfoldsAs the conflict lingers on the effectiveness of balancing lost supplies via Strategic Petroleum Reserves may gradually become ineffective and that may be reflected in higher oil prices Nomura said in its noteMeanwhile the US and Iran are reported to be considering another round of talks after negotiations in Pakistans Islamabad led by US Vice President JD Vance reached a stalemate over the weekend Crude oil prices as a result hit 107 a barrel bbl on Monday before cooling off to below 100bbl on Tuesday on renewed hopes of talks between the two nationsIn the last one week Brent crude oil prices have surged 65 per cent to nearly 98bbl now As the latest peace talks between the US and Iran have failed to yield any result Nomura sees an increased likelihood of higher war risk premium on oil pricesnbspWith President Trump now threatening to completely block the SoH for all inbound and outbound ships Nomura expects the oil supply situation to deteriorate furtherThe rise in oil prices in the last few weeks Nomura said has more than compensated for the fall in export volumes of Saudi Arabia with its oil revenues rising 4 per cent yearonyear in March Saudi Arabia reports suggest has achieved full oil flow capacity of 7mbpd on its EastWest pipeline that bypasses the Strait of Hormuz and opens into the Red SeaAssuming that 2mbpd is used by its refineries in the western coast we might still expect higher export volumes from Saudi Arabia going forward 5mbpd compared to what it did in March 2026 44mbpd The UAE also did relatively well as compared with other gulf countries with a minor 3 per cent yoy drop in oil revenues Nomura saidIran according to Bankas estimates has been the biggest beneficiary since the war broke out in terms oil revenues that rose 36 per cent yoy in March 2026 to 57 billionIANS https://dailyworld.in/business/us-blockade-likely-to-cut-off-2-million-barrels-a-day-of-iran-oil-from-market-669272.html Tue, 14 Apr 2026 13:58:00 +0530 https://dailyworld.in/business/just-dial-clocks-366-pc-drop-in-q4-net-profit-669279.html Mumbai April 14 Just Dial Limited has reported a 366 per cent yearonyear YoY decline in its fourthquarter profit Q4 for FY26 The company posted a net profit of Rs 100 crore for Q4 FY26 compared to Rs 160 crore in the corresponding quarter previous financial year Q4 FY25Despite the drop in profit revenue rose 62 per cent to Rs 3072 crore compared with Rs 290 crore in the yearago period according to its regulatory filingOperationally the company reported a 32 per cent increase in EBITDA to Rs 888 crore with margins standing at 289 per centOperating profit before tax came in at Rs 761 crore marking a 73 per cent rise on a yearly basisHowever a steep fall in other income weighed on overall profitability declining 552 per cent yearonyear and 425 per cent sequentially to Rs 486 croreUser engagement metrics showed some weakness during the quarter Traffic declined 47 per cent yearonyear to 1824 million unique visitors and slipped 12 per cent on a sequential basisMobile continued to dominate usage accounting for 857 per cent of total traffic followed by desktop at 115 per cent and voice at 28 per centOn the business side Just Dial continued to expand its database Active listings grew 121 per cent yearonyear to 547 million as of March 31 2026 supported by net additions of over 187 million listings during the quarterGeocoded listings saw a sharper rise of 254 per cent to 41 million as per its filingThe company maintained a strong balance sheet with cash and investments rising to Rs 58522 crore as of Marchend compared with Rs 52786 crore a year agoDeferred revenue stood largely flat at Rs 5554 crore as per its regulatory filingCommenting on the performance Chief Growth Officer Shwetank Dixit said FY26 was a significant year as the company focused on transforming its platform through artificial intelligenceled toolsShares of the company ended at Rs 56995 on the BSE down Rs 1135 or 195 per cent on Monday IANS https://dailyworld.in/business/just-dial-clocks-366-pc-drop-in-q4-net-profit-669279.html Tue, 14 Apr 2026 14:14:00 +0530 https://dailyworld.in/business/govt-notifies-new-rules-on-fees-for-overloaded-vehicles-on-national-highways-669282.html New Delhi April 14 IANS The Ministry of Road Transport and Highways has notified the National Highways Fee Determination of Rates and Collection Fourth Amendment Rules 2026 aimed at strengthening enforcement and ensuring rationalised fee collection for overloaded vehicles on National HighwaysnbspThe amended rules will come into force from April 15 2026The amendment seeks to promote compliance with prescribed load limits and enhance road safety while protecting highway infrastructureUnder the revised fee structure vehicles found carrying excess load will be charged based on the percentage of overloading Those carrying up to 10 per cent excess load will not be charged any overload fee while vehicles that carry excess load of over 10 per cent and up to 40 per cent will slapped a charge at two times the base rateFor vehicles carrying an excess load above 40 per cent the fee will be charged at four times the base rateThe rules also state that overloading will be determined using certified weight measurement devices installed at fee plazas They also make it clear that in cases where weighing facilities are not available at fee plazas no overload fee shall be leviedThe rules further state that overloading fees shall be collected through FASTag only Details of overloaded vehicles will be recorded and reported to the National Vehicle Register VAHANVehicles entering National Highways without a valid FASTag will attract applicable provisions under existing rules The provisions will not apply to certain private investment projects executed prior to commencement unless concessionaires consent to adopt the revised rulesThe notification includes a detailed illustration explaining calculation of overload fees for different categories of vehicles based on permissible weight limits ensuring clarity and transparency in implementationThe amendment is expected to improve compliance reduce road damage caused by overloaded vehicles and promote safer and more efficient movement of goods across National Highways seamless with WIM WeighinMotion technologyAs per the notification a revised framework has been introduced under Rule 10 for levy of fees on vehicles carrying loads beyond the permissible Gross Vehicle Weight GVWIANS https://dailyworld.in/business/govt-notifies-new-rules-on-fees-for-overloaded-vehicles-on-national-highways-669282.html Tue, 14 Apr 2026 14:16:00 +0530 https://dailyworld.in/business/from-pharmacy-of-world-to-innovation-hub-pm-modi-bats-for-indias-pharma-leap-669291.html New Delhi April 14 IANS Prime Minister Narendra Modi on Tuesday said that Indias pharma sector is moving up from the pharmacy of the world to a hub of innovationnbspHighlighting the countrys growing focus on researchdriven growth PM Modi highlighted Indias transition from a global supplier of affordable medicines to an emerging centre of pharmaceutical innovationSharing an article authored by Union Health Minister Jagat Prakash Nadda he said that Indias pharma sector is steadily moving up the value chain with a strong push towards research and development biologics biosimilars and nextgeneration therapiesFrom the pharmacy of the world to a hub of innovation Indias pharma sector is moving up the value chain PM Modi said in a post on XUnder the present government the focus has been on extensive RampampD biologics biosimilars and cuttingedge therapies the Prime Minister Modi explainedThe post described Naddas article as a mustread retrospection on how the country is positioning itself to lead the global pharmaceutical raceA mustread retrospection by Union Minister Nadda on how India is preparing to lead the global race in this sector PMO saidThe article outlines how policy support and sustained government focus have helped reshape the sectors trajectory in recent yearsIt emphasises that India is no longer limited to producing generic medicines at scale but is increasingly investing in advanced research capabilities and complex drug developmentAccording to the article the government has prioritised innovationled growth by encouraging RampampD investments and building an ecosystem that supports cuttingedge therapiesThis includes a growing emphasis on biologics and biosimilars segments that are expected to drive the next phase of growth in the global pharmaceutical industryLong termed as the Pharmacy of the World due to its leadership in generic medicines Indias pharma industry is now ready to shift gears from scale to innovation Nadda said in its articleIANS https://dailyworld.in/business/from-pharmacy-of-world-to-innovation-hub-pm-modi-bats-for-indias-pharma-leap-669291.html Tue, 14 Apr 2026 14:46:00 +0530 https://dailyworld.in/business/geopolitics-rattles-pakistan-stocks-kse-100-crashes-4-800-points-669312.html New Delhi April 14 IANS Pakistans benchmark KSE100 Index witnessed sharp volatility this week plunging in early trade on Monday after USIran talks failed to yield a breakthrough before staging a strong rebound a day later on hopes of renewed diplomacynbspThe index tumbled nearly 4800 points within minutes of the market opening on Monday reflecting panic selling across sectorsDuring early trade on the same day the gauge was trading at 16239621 down 479516 points or 287 per centThe selloff was broadbased with heavy losses seen in automobiles cement banking oil and gas power and refining stocksKey indexheavy stocks such as Attock Refinery Limited Hub Power Company Mari Energies Limited Oil and Gas Development Company Pakistan Oilfields Limited Pakistan Petroleum Limited Pakistan State Oil Sui Southern Gas Company Sui Northern Gas Pipelines Limited and Wafi Energy Pakistan all traded in the red dragging the benchmark lowerThe decline came after comments by JD Vance who said that his negotiating team was leaving Pakistan after nearly 21 hours of talks with Iran ended without a breakthroughHe pointed to disagreements over US conditions particularly those linked to commitments on nuclear weapons developmentEchoing the uncertainty Mohammad Baqer Qalibaf signalled limited expectations for an immediate agreement citing deep mistrust despite the latest round of indirect negotiations facilitated by PakistanThe setback reversed the optimism seen last week when the KSE100 had gained 167387 points or 101 per cent to close at 16719138 amid hopes that easing geopolitical tensions between Washington and Tehran would support investor sentiment and reduce regional risk premiumsHowever sentiment turned positive again on Tuesday with Pakistans stock market surging sharplyThe KSE100 jumped nearly 4000 points as investors bet on the possibility of fresh USIran peace talksIANS https://dailyworld.in/business/geopolitics-rattles-pakistan-stocks-kse-100-crashes-4-800-points-669312.html Tue, 14 Apr 2026 15:21:00 +0530 https://dailyworld.in/business/indias-passenger-vehicle-sales-jump-16-pc-in-march-report-669316.html New Delhi April 14 Domestic passenger vehicle dispatches to dealers increased by 16 per cent yearonyear to 442460 units in March driven by improved demand and inventory buildup at dealerships according to data released by the Society of Indian Automobile Manufacturers SIAM on Tuesday Passenger vehicle wholesales had stood at 381358 units in March last yearTwowheeler dispatches also recorded strong growth increasing 193 per cent to 1976128 units last month compared to 1656939 units in the corresponding period a year ago the industry body said in a statementSimilarly threewheeler dispatches rose 214 per cent yearonyear to 76273 units in March up from 62813 units in March 2025Moreover domestic passenger vehicle dispatches from companies to dealers had risen 106 per cent yearonyear to 417705 units in February reflecting continued positive market sentiment according to data from Society of Indian Automobile ManufacturersThe broader outlook for the passenger vehicle segment also remains positive though growth is expected to moderate going aheadAccording to an earlier report the industry is likely to clock wholesale volume growth of around 7â9 per cent in FY26 supported by strong festive demand recent GST rate cuts and a steady pipeline of new model launchesHowever growth is projected to ease to 4â6 per cent in FY27 due to a higher base and evolving macroeconomic conditionsThe report also noted that the sector continues to undergo structural changes with utility vehicles accounting for nearly 67 per cent of total passenger vehicle sales highlighting an ongoing premiumisation trend Additionally increasing adoption of alternative fuel options such as CNG and electric vehicles is contributing to demand diversification IANS https://dailyworld.in/business/indias-passenger-vehicle-sales-jump-16-pc-in-march-report-669316.html Tue, 14 Apr 2026 15:23:00 +0530 https://dailyworld.in/business/indias-ai-infrastructure-buildup-will-bolster-southeast-asian-tech-hubs-report-669321.html New Delhi April 14 Indias buildâout of artificial intelligence infrastructure will bolster regional AI capacity rather than siphon investment from established Southeast Asian hubs such as Singapore and Malaysia as per industry leaders according to a new report The report from ComputerWeekly cited tech executives at the Gitex AI Asia 2026 conference in Singapore forecasting Indiaâs massive scale to act as a testing ground for the broader Asian market and help other markets build scale and velocityGorilla Technology Chairman and CEO Jay Chandan rebuffed concerns of India going to replace Singapore Malaysia and Vietnam adding the country aims to demonstrate to emerging economies that they can build these largescale models and be successful with an efficient cost baseBecause India is geopolitically safe compared to many other areas it has the potential to become a major hotspot for serving global AI demand Yotta Data Services Coâfounder and Chief Executive Sunil Gupta saidGupta added that Indiaâs sprawling datacentres solve global supply chain challenges with more enterprises from Europe and the Middle East relying on India to host their AI training and inference workloads due to GPU shortages elsewhereWith a population of 14 billion including a billion smartphone users connected to the internet India currently accounts for over half of the worldâs digital payment transactions This has led to an increased demand for processing and storing data within the countryâs borders the report saidThe report highlighted growing concerns of Indian users about privacy and security concerns regarding their data with the rising adoption of AI in recent yearsPeople want sovereign AI and sovereign models trained on sovereign data Gupta said calling it a huge wave in India right now supported fully by the governmentThe government backed IndiaAI Mission that heavily subsidised computing costs by paying infrastructure providers to allocate GPUs to local model builders researchers and academia the report noted IANS https://dailyworld.in/business/indias-ai-infrastructure-buildup-will-bolster-southeast-asian-tech-hubs-report-669321.html Tue, 14 Apr 2026 15:58:00 +0530 https://dailyworld.in/business/ev-charging-fees-to-be-discounted-on-weekends-s-korea-669324.html Seoul April 14 Electric vehicle EV charging costs will be reduced by up to 15 per cent during afternoon hours on weekends starting this week the climate ministry said on Tuesday The reduction in the charging fees will be supported by a 50 percent rate discount on electricity used at 94000 private homeuse chargers and 13000 public fast chargers between 11 am and 2 pm on weekends and public holidays according to the Ministry of Climate Energy and EnvironmentThis will result in a 1215 percent reduction in EV charging fees the ministry noted adding the discounts will be available from March to May and September to October reports Yonhap news agencyReflecting the lower electricity rates charging costs for homeuse chargers will be reduced by 486 won per kilowatthour kWh while public fast chargers will offer discounts of 486 won on Saturdays and 427 won on Sundays and public holidaysSome private charging operators are also expected to participate in the discount program and we will encourage further participation by disclosing the list of participating companies the ministry saidMeanwhile major oilproducing countries in the Middle East have shown interest in using South Koreas crude oil storage facilities amid the prolonged conflict in their region Seouls senior industry ministry official said on TuesdayAn increasing number of countries want to use South Koreas oil storage facilities said Yang Giuk head of the ministrys office of industry trade and resource security noting that interest is particularly growing in utilizing Northeast Asian storage basesYang said Middle Eastern countries are also being hit hard by disruptions in their oil shipments due to the shutdown of the Strait of Hormuz as oil exports account for a significant share of their economiesCountries such as Saudi Arabia the United Arab Emirates UAE and Kuwait rely heavily on crude oil exports for their national economies he saidIn addition to Abu Dhabi National Oil Co the UAEs largest petroleum company that already has a joint oil storage agreement with South Korea other Middle Eastern producers are also in contact according to the official IANS https://dailyworld.in/business/ev-charging-fees-to-be-discounted-on-weekends-s-korea-669324.html Tue, 14 Apr 2026 15:59:00 +0530 https://dailyworld.in/business/global-pharma-giants-escape-us-regulation-while-testing-drugs-in-chinas-xinjiang-report-669329.html New Delhi April 14 Multinational pharmaceutical giants with RampD investments and human trials running in Chinaâs Xinjiang region and at Chinese military hospitals are escaping US regulation that prohibits drug development or clinical testing according to an article in The Wire a New Yorkheadquartered global digital magazine Data put together by The Wire China and WireScreen from ClinicalTrialsgov a medical trial database maintained by the US National Library of Medicine shows that multinational companies have for years actively been sponsoring medical trials taking place in Xinjiang and at Peopleâs Liberation Armyaffiliated sitesThe true scope of this testing is difficult to measure ClinicalTrialsgov requires registered trials to conform to regulations from regional authorities but some trials only list the city where the test is held not the hospital PLA hospitals also do not always openly identify their military affiliation China has 165 PLA hospitals across each of its provinces according to WireScreen dataTesting at multiple locations allows companies to collect data on how medicine impacts a variety of people under different conditions The results are used by companies seeking approval from regulatory agencies to market the final productThe report cites the example of a Covidera treatment developed by UKheadquartered AstraZeneca which illustrates the role Xinjiang played in the testing of a medicine that received regulatory approval in the United States The treatment which was eventually sold under the name Evusheld was trialed at a hospital in Xinjiang and at other sites across China the United States Europe Latin America and JapanEvusheldâs Xinjiang clinical trial was just one of hundreds sponsored by AstraZeneca between 2021 and 2023 Yet its example illustrates how the pharmaceutical industry can operate in Xinjiang and bring products to market in the United States without facing regulatory requirements addressing forced labour concerns in the region Several foreign governments and the United Nations UN have said that human rights violations are rife in Xinjiang the article statesUnlike agricultural and technology firms operating in the region drug manufacturers were exempt from sanctions under the Uyghur Forced Labor Prevention Act according to a 2024 report from the Washingtonbased research group Center for Advanced Defense Studies The act passed in 2021 prevents the import of all goods mined produced or manufactured in Xinjiang unless a forced labourfree supply chain is otherwise provenAs a result the industry has been able to continue testing medicines on patients in Xinjiang and at military hospitals Data identified by the report shows the top multinational sponsors of trials over the past fifteen yearsThe article highlights that the lack of oversight prompted the House of Representativesâ bipartisan Select Committee on the Chinese Communist Party to address the Food and Drug Administration FDA in 2024 and call for more information on pharmaceutical trials conducted in Xinjiang and at PLA hospitalsâChina runs trials at PLA military hospitals and in Xinjiang where there has been a documented history of people being coerced into medical studies amid the Chinese Communist Partyâs genocide targeting Uyghur Muslims and other minoritiesâ the select committeeâs chairman John Moolenaar RMI said in a March 18 hearing on the generic drug supply chain according to the articleâIn spite of this forced testing the FDA currently allows companies to use data from uninspected Chinese trial sites to advance drug applications in the United Statesâ he added IANS https://dailyworld.in/business/global-pharma-giants-escape-us-regulation-while-testing-drugs-in-chinas-xinjiang-report-669329.html Tue, 14 Apr 2026 16:36:00 +0530 https://dailyworld.in/business/demand-for-crude-oil-to-see-biggest-quarterly-slump-since-covid-pandemic-iea-669335.html New Delhi April 14 The International Energy Agency IEA warned on Tuesday that demand for crude oil will likely see the biggest slump in the second quarter Q2 2026 since the Covid pandemic slashed fuel consumption Oil demand is expected to contract by 80000 barrels per day kbd this year as the Iran war upends our global outlookThis is 730 kbd less than in last monthâs Report and a forecast 15 mbd 2Q26 decline would be the sharpest since Covid19 slashed fuel consumption Initially the deepest cuts in oil use have come in the Middle East and Asia Pacific mainly for naphtha LPG and jet fuel However demand destruction will spread as scarcity and higher prices persist the agency said in its reportGlobal crude throughputs continue to struggle with disruptions to feedstock supplies and infrastructure damage that are tightening global product marketsOil prices posted their largestever monthly gain in March in the wake of the most severe oil supply shock in historySpot crude benchmarks and differentials soared outpacing futures markets as refiners anxiously scrambled to replace lockedin Middle Eastern cargoes said the reportThe IEA said that the twoweek ceasefire provided some welcome respite to global oil markets just as the impact of disruptions to supply and trade was spreading globallyHowever at the time of writing it remains unclear whether the ceasefire will turn into a lasting peace and a return to regular shipping flows through the Strait of Hormuz said the reportWith oilimporting nations scrambling to source replacement barrels from an increasingly shrinking pool of supply physical crude oil prices surged to record levels near 150bbl far above the prices in futures markets with the physicalfutures disconnect becoming increasingly acuteEven steeper gains have been seen for refined products with middle distillate prices in Singapore reaching alltime highs above 290bblThe IEA said that resuming flows through the Strait of Hormuz remains the single most important variable in easing the pressure on energy supplies prices and the global economyThe latest development in the fastevolving situation is the announced US blockade on vessels entering or departing Iranian ports and coastal areasConsumers and refiners alike are tapping into oil inventories to mitigate the immediate impact of supply disruptionsIn March global observed oil stocks fell by 85 mb despite an accumulation of both onland and offshore inventories in the Middle East and further builds in ChinaThe largest decline came from oil on water following the near halt to sailings from Gulf producers dependent on the Strait Crude oil stocks in importing countries in Asia dropped by 31 mb with further declines expected in AprilâThe prospects for a lasting negotiated settlement to the conflict remain unclear at this stage We present a forecast that assumes a resumption of regular deliveries of oil and gas from the Middle East to international markets by midyear although not back to preconflict levelsâ said the report IANS https://dailyworld.in/business/demand-for-crude-oil-to-see-biggest-quarterly-slump-since-covid-pandemic-iea-669335.html Tue, 14 Apr 2026 16:40:00 +0530 https://dailyworld.in/business/mining-equipment-maker-eimco-elecon-q4-profit-crashes-over-57-pc-669336.html Mumbai April 14 Eimco Elecon India Limited on Tuesday reported a 5722 per cent decline in its fourthquarter profit Q4 for FY26 The Gujaratbased mining and construction equipment manufacturer posted a profit of Rs 636 crore for the quarter ended March 31 Q4 FY26 compared to Rs 1487 crore in the same period previous financial year Q4 FY25Profit before tax also fell significantly by 5455 per cent yearonyear to Rs 894 crore according to its stock exchange filingDespite the drop in profitability revenue from operations increased 404 per cent to Rs 6688 crore in Q4 FY26 compared with Rs 6428 crore in the corresponding quarter of the previous financial yearHowever higher expenses weighed on the overall performance Total expenses rose 1609 per cent yearonyear to Rs 5662 croreDuring the quarter the cost of materials consumed declined 2144 per cent to Rs 2297 crore while compensation paid to distributors increased slightly by 161 per cent to Rs 757 croreFor the full financial year FY26 the company reported a net profit of Rs 3871 crore lower than Rs 4891 crore recorded in FY25The board of the company has recommended a dividend of Rs 4 per equity share or 40 per cent for FY26The dividend will be subject to approval by shareholders at the upcoming Annual General Meeting and is expected to be paid within 30 days after its conclusionEimco Elecon is mainly engaged in manufacturing equipment used in the mining and construction sectorsFounded in 1974 and based in Vallabh Vidyanagar Gujarat the company produces underground mining machinery such as Load Haul Dumpers Side Dump Loaders and drilling equipmentIt supplies to major companies including Coal India subsidiaries Hindustan Zinc and VedantaShares of the company ended at Rs 176050 on April 13 down 020 per cent The stock market remained closed on the following day on account of Dr Babasaheb Ambedkar Jayanti IANS https://dailyworld.in/business/mining-equipment-maker-eimco-elecon-q4-profit-crashes-over-57-pc-669336.html Tue, 14 Apr 2026 16:40:00 +0530 https://dailyworld.in/business/mining-equipment-maker-eimco-elecons-q4-profit-crashes-over-57-pc-669337.html Mumbai April 14 Eimco Elecon India Limited on Tuesday reported a 5722 per cent decline in its fourthquarter profit Q4 for FY26 The Gujaratbased mining and construction equipment manufacturer posted a profit of Rs 636 crore for the quarter ended March 31 Q4 FY26 compared to Rs 1487 crore in the same period previous financial year Q4 FY25Profit before tax also fell significantly by 5455 per cent yearonyear to Rs 894 crore according to its stock exchange filingDespite the drop in profitability revenue from operations increased 404 per cent to Rs 6688 crore in Q4 FY26 compared with Rs 6428 crore in the corresponding quarter of the previous financial yearHowever higher expenses weighed on the overall performance Total expenses rose 1609 per cent yearonyear to Rs 5662 croreDuring the quarter the cost of materials consumed declined 2144 per cent to Rs 2297 crore while compensation paid to distributors increased slightly by 161 per cent to Rs 757 croreFor the full financial year FY26 the company reported a net profit of Rs 3871 crore lower than Rs 4891 crore recorded in FY25The board of the company has recommended a dividend of Rs 4 per equity share or 40 per cent for FY26The dividend will be subject to approval by shareholders at the upcoming Annual General Meeting and is expected to be paid within 30 days after its conclusionEimco Elecon is mainly engaged in manufacturing equipment used in the mining and construction sectorsFounded in 1974 and based in Vallabh Vidyanagar Gujarat the company produces underground mining machinery such as Load Haul Dumpers Side Dump Loaders and drilling equipmentIt supplies to major companies including Coal India subsidiaries Hindustan Zinc and VedantaShares of the company ended at Rs 176050 on April 13 down 020 per cent The stock market remained closed on the following day on account of Dr Babasaheb Ambedkar Jayanti IANS https://dailyworld.in/business/mining-equipment-maker-eimco-elecons-q4-profit-crashes-over-57-pc-669337.html Tue, 14 Apr 2026 16:41:00 +0530 https://dailyworld.in/business/motherson-units-unaffected-by-noida-labour-protests-says-company-669361.html New Delhi April 14 Auto component makers under the Samvardhana Motherson International Limited group has said their operations remain largely unaffected despite violent worker protests in Noida over wagerelated issues In a joint statement Motherson Sumi Wiring India Limited and Samvardhana Motherson Automotive Systems Group said there has been no material impact on business operations even as unrest in parts of Noida led to incidents of arson vandalism and police interventionThe companies attributed the protests to misinformation surrounding wage revisions and sought to distance their workforce from the agitationThis is a broader labour issue affecting multiple industries in Noida and some other cities driven by misinformation being spread about wage revisionsâ it said in its regulatory filingâOur operations remain compliant with all applicable laws with no material impact on the Companyâ it addedThe protests were reported near the groupâs facilities in Sector 62 and Sector 84 two key industrial hubs in NoidaWhile the companies maintained that operations were running as usual sources indicated that some units may remain shut for a day or two as a precautionary measureThe companies however did not confirm whether their employees were directly involved in the protestsâOur operations remain compliant with all applicable laws with no material impact on the company The safety of our employees remains our top priority The authorities are working closely with the industry to bring things back to normal as quickly as possibleâ the statement saidAmid the unrest the Uttar Pradesh Government announced an interim hike in minimum wages for workers across categoriesThe revised wages applicable from April 1 2026 will benefit unskilled semiskilled and skilled workersAccording to the government workers in Noida and Ghaziabad will see the highest increase of 21 per cent while those in other municipal corporation areas will get nearly a 15 per cent hikeThe state government also dismissed claims circulating on social media about a uniform minimum wage of Rs 20000 calling them misleading and clarifying that no such statewide wage has been fixedIt added that the revised interim wages will include both basic pay and dearness allowance varying across district categories IANS https://dailyworld.in/business/motherson-units-unaffected-by-noida-labour-protests-says-company-669361.html Tue, 14 Apr 2026 18:08:00 +0530 https://dailyworld.in/business/sale-of-5-kg-lpg-cylinders-touches-143-lakh-png-connections-rise-to-44-lakh-669368.html New Delhi April 14 IANS The supply of domestic LPG remains normal in the country and over 11 lakh 5 kg LPG cylinders used by migrant labourers for cooking were sold across the country on Monday taking their total number to 143 lakh since March 23 according to the latest update issued by the Ministry of Petroleum and Natural Gas on TuesdaynbspThe daily average of small 5kg cylinders has gone up from 77 000 in February this year before the Iran war started to about 11 lakh as on MondayOnline LPG bookings have increased to 98 per cent across the industry basis as of Monday Deliveries based on the authentication code DAC received on the registered mobile number of the consumer have increased to around 92 per cent to prevent diversion at the distributor levelSince March 2026 about 44 lakh PNG connections have been gasified and about 488 lakh additional customers have registered for new connections Besides more than 33000 PNG consumers have surrendered their LPG connections via MYPNGDin websiteThe equivalent of more than 45 lakh 19 kg cylinders of commercial LPG was also sold on Monday taking the total past the 6928 lakh mark since 14th MarchA threemember committee of Executive Directors from IOCL HPCL and BPCL is coordinating with state authorities and industry bodies to plan commercial LPG distributionCitizens are advised to avoid panic purchase of petrol diesel and LPG and rely only on official sources for information LPG consumers are requested to use digital booking platforms and avoid visiting distributorsDespite the ongoing geopolitical situation the government has prioritised domestic LPG and PNG supply particularly for hospitals and educational institutionsMeanwhile as part of the enforcement action continuing across the country to curb hoarding and black marketing of LPG public sector oil companies have strengthened and continued surprise inspections and imposed penalties on 232 LPG distributorships and 56 LPG distributorships have been suspended till TuesdayAll refineries are operating at high capacity with adequate crude inventories in place The country is also maintaining sufficient stocks of petrol and diesel Domestic LPG production from refineries has been increased to support domestic consumption the statement saidThe government is making all efforts to ensure the availability of petrol diesel and LPG and citizens are advised to avoid panic purchase of the fuels as well as unnecessary booking of LPG Citizens are requested to use digital modes for booking of LPG cylinders and avoid visiting LPG distributors unless necessary the statement addedThe government has also announced that the increase in the commercial LPG limit to 70 per cent of the preMarch 2026 bulk consumption level will be extended to industrial units in the pharma food polymer agriculture packaging paint uranium heavy water steel seed metal ceramic foundry forging glass and aerosol sectorsIANS https://dailyworld.in/business/sale-of-5-kg-lpg-cylinders-touches-143-lakh-png-connections-rise-to-44-lakh-669368.html Tue, 14 Apr 2026 18:45:00 +0530 https://dailyworld.in/business/100-flights-expected-to-arrive-in-india-from-uae-on-tuesday-669372.html New Delhi April 14 Airlines continue to operate from the Gulf countries where airspace remains open with around 100 flights expected to arrive in India from the United Arab Emirates on Tuesday according to a statement issued by the Ministry of External Affairs Airlines are operating limited nonscheduled commercial flights based on operational and safety considerations the statement saidFlights continue to operate from various airports in Saudi Arabia and Oman to destinations in India With Qatar airspace partially open Qatar Airways is expected to operate around 10 flights to India on TuesdayKuwait airspace remains closed Jazeera Airways of Kuwait and Kuwait Airways are operating nonscheduled commercial flights from Dammam Airport in Saudi Arabia to India Travel of Indian nationals to India from Kuwait continues to be facilitated through Saudi ArabiaBahrain airspace is open Gulf Air is expected to begin limited flight operations from Bahrain to India soon and is currently operating nonscheduled flights from Dammam Airport in Saudi Arabia to India Travel of Indian nationals from Bahrain continues to be facilitated through Saudi Arabia to IndiaEmbassy in Tehran has so far facilitated movement of 2313 Indian nationals from Iran to Armenia and Azerbaijan for onward travel to India This includes 1028 Indian students and 657 Indian fishermenIsrael airspace is partially open with restricted flight operations Travel of Indian nationals is being facilitated from Israel through Jordan and Egypt to IndiaIraq airspace is open Iraqi Airways has resumed flights to India Travel of Indian nationals continues to be facilitated from Iraq through Jordan and Saudi Arabia to India the ministry saidAround 955000 passengers have travelled from the Gulf region to India since February 28 when the Iran war startedThe ministry is also in regular contact with State Governments and Union Territories for better sharing of information and coordination Efforts remain focused on ensuring the safety security and welfare of the Indian community in the region the statement addedIndian Missions and Posts continue to operate roundtheclock helplines and are proactively assisting Indian nationals They remain in close contact with the local Governments Updated advisories are being issued regularly including information on local government guidelines flight and travel situations and consular services and various welfare measures being undertaken to support the Indian communityThe missions remain actively engaged with Indian community associations professional groups Indian companies and other stakeholders in the region the statement added IANS https://dailyworld.in/business/100-flights-expected-to-arrive-in-india-from-uae-on-tuesday-669372.html Tue, 14 Apr 2026 19:08:00 +0530 https://dailyworld.in/business/india-leads-apac-in-agentic-ai-adoption-tops-productivity-gains-report-669373.html New Delhi April 14 India has emerged as a frontrunner in the adoption of agentic Artificial Intelligence AI across the AsiaPacific region with enterprises moving rapidly from experimentation to realworld deployment and returns according to a report A report of Tech Wire Asia said 97 per cent of organisations worldwide are exploring agentic AI strategies and adoption levels vary significantly across regionsIn AsiaPacific APAC India stands out with the highest proportion of expert users of agentic AI among all countries surveyed it saidIn contrast markets such as Australia and Japan remain at an intermediate stage transitioning projects from pilot phases to fullscale deploymentIndia also leads globally in realising returns from agentic AI in IT development and productivity with 50 per cent of respondents reporting measurable gains from applications such as code generation and workflow automationMeanwhile Japan reported the highest gains in operational efficiency at 37 per cent reflecting a different but tangible benefit profile according to the reportGlobally about 49 per cent of enterprises have moved more than half of their agentic AI projects from pilot to enterprisewide productionMoreover India and Brazil recorded the highest transition rates indicating stronger organisational readiness to deploy AI agents in live environments rather than controlled pilotsThe report also showed growing confidence in AI systemsAs per analysts around 70 per cent of respondents globally expressed moderate to high trust in autonomous AI agents a sharp increase from last yearIndia again led the region with high trust being the most common response suggesting greater willingness to deploy AI in missioncritical functionsOver 40 per cent of respondents cited legacy systems and integration issues as key barriers to AI implementation while 38 per cent said such constraints have stalled projects altogetherIn Japan 44 per cent of respondents pointed to a lack of internal skills as a major hurdleAccording to the report governance remains another area of concern with only 36 per cent of organisations globally having a centralised framework for managing agentic AI IANS https://dailyworld.in/business/india-leads-apac-in-agentic-ai-adoption-tops-productivity-gains-report-669373.html Tue, 14 Apr 2026 19:10:00 +0530 https://dailyworld.in/business/nashik-tcs-row-sparks-political-storm-leaders-demand-probe-accountability-669382.html Mumbai April 14 Allegations of forced religious conversion and sexual exploitation at the Nashik branch of Tata Consultancy Services TCS on Tuesday triggered a major political controversy in Maharashtra with leaders across party lines calling for a thorough investigation while differing on the extent of institutional accountability Shiv Sena spokesperson Sanjay Nirupam described the allegations as serious and alarming claiming that Hindu women employees at the Nashik office were allegedly pressured to convert their religion and subjected to exploitationHe questioned how such incidents could take place within a globally reputed company without its knowledgeWe want to ask TCS you are such a prestigious company providing services worldwide yet such wrongdoing was happening right under your nose and you were not even aware of it Nirupam saidHe also asserted that responsibility must be fixed and action taken against company officialsThe issue has also drawn a strong reaction from the Bharatiya Janata Party BJP with MLC Chitra Wagh alleging that coercion and pressure were used in carrying out conversionsShe said that the state government along with Nashik Police and the Home Department is handling the matter very effectively and conducting a detailed probeMeanwhile Union Minister Ramdas Athawale offered a nuanced view saying that while religious conversion itself is not illegal any conversion carried out through coercion inducement or pressure is against the law and must be dealt with strictlyI think there is no legal restriction on voluntary religious conversion But if someone is trapped pressured or influenced improperly then it becomes illegal Athawale saidOffering a contrasting perspective NCPSP National Spokesperson Naseem Siddiqui said Conversion does not happen by feeding beef or by feeding bitter gourd Religious conversion happens for two reasons either someone falls in love and their mind changes or there is financial pressure on them The state government should investigate thisCautioning against tarnishing the image of TCS as an institution Siddiqui added that any wrongdoing should be attributed to individuals rather than the company as a wholeTCS is a very good institution of the country No questions should be raised against it If some individuals within TCS have done something wrong the government should investigate it order a CBI probe and punish the guilty the NCPSP leader said adding If there are rapists sitting in Parliament will you defame Parliament Even after sitting in mosques many people go and commit rape will you defame mosques If a priest sitting in a temple commits an act of lust against someone will you defame templesAccording to officials the Maharashtra Police have taken cognisance of the allegations and the state leadership including the Chief Minister Devendra Fadnavis and the Deputy Chief Ministers Eknath Shinde and Sunetra Pawar has treated the matter with urgencyAuthorities are expected to examine all aspects of the case including the nature of the allegations the role of individuals involved and whether any coercion or organised wrongdoing took place within the companys premisesAccording to reports the controversy began in March after a woman accused a TCS colleague of maintaining a physical relationship with her on the false promise of marriageDuring the investigation authorities uncovered additional complaints leading to several more FIRs linked to similar allegationsMeanwhile the police have arrested at least six employees in connection with the case based on intelligence inputs received by the Nashik Police Commissioners officeAs the probe progresses the controversy has intensified political debate in the state raising broader questions about workplace safety corporate accountability and the legal boundaries surrounding religious conversion IANS https://dailyworld.in/business/nashik-tcs-row-sparks-political-storm-leaders-demand-probe-accountability-669382.html Tue, 14 Apr 2026 20:05:00 +0530 https://dailyworld.in/business/all-indian-seafarers-ships-in-gulf-region-are-safe-govt-669390.html New Delhi April 14 All Indian seafarers in the Gulf region are safe and no incident involving Indianflagged vessels has been reported in the past 24 hours the Ministry of Ports and Shipping said on Tuesday The Directorate General DG of Shipping has facilitated the safe repatriation of over 2262 Indian seafarers so far including 85 in the past 24 hours from various locations across the Gulf region a ministry statement saidThe DG Shipping Control Room has handled 6292 calls and more than 13228 emails since activation including 219 calls and 361 emails in the past 24 hoursPort operations across India also continue normally with no congestion reported the statement saidThe Ministry continues to coordinate closely with the Ministry of External Affairs Indian Missions and maritime stakeholders to ensure the welfare of Indian seafarers and uninterrupted maritime operations the statement saidAcross the region Indian Missions and Posts remain in close contact with the Indian community while continuing to provide assistance and issue necessary advisories for their safety and wellbeing according to a statement released by the Ministry of External AffairsMeanwhile the Ministry of External Affairs has continued its outreach to countries in West Asia External Affairs Minister S Jaishankar spoke to the Foreign Minister of Kuwait and discussed the regional situation and the wellbeing of the Indian community He also spoke with the Foreign Minister of Israel and discussed various aspects of the conflict in West AsiaFurther the External Affairs Minister also spoke to his Singaporean and Australian counterparts to discuss issues related to the conflict in West AsiaThe Ministry is also in regular contact with state governments and Union Territories for better sharing of information and coordination Efforts remain focused on ensuring the safety security and welfare of the Indian community in the region the statement addedIndian Missions and Posts continue to operate roundtheclock helplines and are proactively assisting Indian nationals They remain in close contact with the local governments IANS https://dailyworld.in/business/all-indian-seafarers-ships-in-gulf-region-are-safe-govt-669390.html Tue, 14 Apr 2026 20:14:00 +0530 https://dailyworld.in/business/air-india-plans-to-roll-out-stock-options-reward-system-for-staff--669188.html New Delhi April 13 IANS Air India is planning to introduce a new performancelinked stock options reward system for its employees in order to boost productivity as the Tata Group looks at ways to turn around the lossmaking airlinenbspnbspEligible employees including pilots engineers and senior management will be able to buy shares after being granted stock options at prices between the Rs 4 face value and the market value at the time of grant according to a report in Livemint on MondayThe plan approved at an extraordinary general meeting on February 13 aims to motivate employees and align their performance with the companys growth agenda It is designed to reward and attract talent across Air India and its subsidiariesThe objective of PSOP performance stock option plan 2026 is to reward the eligible employees of Air India and its subsidiaries present or future for their performance and to motivate them to contribute to the growth and profitability of the company said the resolution at the meeting The plan aims to attract retain and reward talent in the organisation the report statesThe airline will issue about 2271 million stock options equal to 025 per cent of its total share capital as new shares for eligible employees according to a disclosure to the corporate affairs ministry on April 6 the report added Singapore Airlines has also been given preemptive rights to maintain its 2510 per cent stake by purchasing additional shares if neededThe vesting period ranges from one to five years This means that Tata is seeking continued services from its employees as part of this new reward system The nomination and remuneration committee will decide eligibility share allocation and pricing the report addedIndias two other listed airlines IndiGo and SpiceJet have already introduced ESOP schemes Privatelyheld Akasa Air also has such a scheme in place Air India previously allotted shares to nearly 8000 employees during its acquisition from the government in January 2022 The move was part of an Employee Share Benefit Scheme managed by SBICAP Trustee Co LtdUnder the new performancelinked plan employees may receive only half the shares if the airline achieves less than 85 per cent of its internal targets according to the report The structure is designed to reward performance and encourage higher efficiencyThe development comes while Air India is undergoing a leadership transition as CEO Campbell Wilson resigned on March 30 He will stay until a successor is appointed His term was originally set to end in July 2027IANS https://dailyworld.in/business/air-india-plans-to-roll-out-stock-options-reward-system-for-staff--669188.html Mon, 13 Apr 2026 15:03:00 +0530 https://dailyworld.in/business/india-oman-cepa-to-unlock-new-trade-investment-opportunities-piyush-goyal-669197.html New Delhi April 13 IANS Union Commerce and Industry Minister Piyush Goyal on Monday said that India and Oman have discussed unlocking opportunities under the proposed CEPA to boost bilateral trade and investment ties for the mutual growth of both nationsnbspThe minister shared details of his telephonic conversation with Omans Minister of Commerce Industry and Investment Promotion Anwar bin Hilal bin Hamdoun Al Jabri stating that both sides explored ways to deepen economic engagement between the two countriesIn a post on social media platform X Goyal said the discussions focused on leveraging the IndiaOman Comprehensive Economic Partnership Agreement CEPA to enhance trade flows and investment opportunitiesThe agreement signed in Muscat in December 2025 is yet to be implemented but is expected to significantly strengthen economic ties once it comes into forceHeld a telecall with HE Anwar bin Hilal bin Hamdoun Al Jabri Omans Minister of Commerce Industry and Investment Promotion Goyal saidDiscussed unlocking opportunities under the IndiaOman CEPA to boost bilateral trade and investment ties for the mutual growth of both nations he addedUnder the proposed CEPA about 98 per cent of Indias exports including textiles agricultural products and leather goods are set to receive dutyfree access to the Oman marketIn return India will reduce tariffs on key Omanese exports such as dates marble and petrochemical products paving the way for more balanced tradeThe latest engagement is part of a series of highlevel interactions by Goyal with key partners in the Gulf regionIn recent days he has held discussions with trade ministers from Saudi Arabia the United Arab Emirates Bahrain and Kuwait to expand Indias economic footprint in West AsiaIndia and Oman share a strong and longstanding trade relationship with bilateral trade reaching about 105 billion in 202425Of this Indias exports stood at around 4 billion while imports were valued at 654 billionIANS https://dailyworld.in/business/india-oman-cepa-to-unlock-new-trade-investment-opportunities-piyush-goyal-669197.html Mon, 13 Apr 2026 18:04:00 +0530 https://dailyworld.in/business/lpg-ship-jag-vikram-reaching-kandla-on-tuesday-with-20-400-tonnes-cargo-669199.html New Delhi April 13 IANS Indiaflagged LPG vessel Jag Vikram which safely sailed out of the Strait of Hormuz on Saturday carrying approximately 20400 metric tonnes of LPG cargo with 24 seafarers onboard is expected to arrive at Kandla port on Tuesday according to a government statementnbspAll Indian seafarers in the region are reported to be safe and no incident involving Indianflagged vessels has been reported in the past 24 hours the statement saidThe DG Shipping Control Room has handled 6073 calls and 12867 emails since activation including 20 calls and 80 emails in the past 24 hoursDG Shipping has facilitated the safe repatriation of over 2177 Indian seafarers so far including 93 in the past 24 hours from various locations across the Gulf regionPort operations across India continue normally with no congestion reported Ports on the western coast of India have ensured that a total of 3383 TEUs of West Asiabound backtotown containers have been received of which 3228 TEUs have been facilitated for returnThe balance of only 155 TEUs is on account of shipping line operational factors with no congestion at any portThe Ministry of Ports and Shipping continues to coordinate closely with the Ministry of External Affairs Indian Missions in the Gulf region and maritime stakeholders to ensure the welfare of Indian seafarers and uninterrupted maritime operationsAcross the region Indian missions and posts remain in close contact with the Indian community while continuing to provide assistance and issue necessary advisories for their safety and wellbeing the Ministry of External Affairs saidExternal Affairs Minister S Jaishankar visited the United Arab Emirates from April 11 to 12The government continues to closely monitor developments in the Gulf and West Asia region The Ministry of External Affairs is in regular contact with state governments and Union Territory administrations for better sharing of information and coordinationEfforts remain focused on ensuring the safety security and welfare of the Indian community in the region Indian Missions and Posts continue to operate roundtheclock helplines and are proactively assisting Indian nationalsUpdated advisories are being issued regularly including information on local government guidelines flight and travel situations and consular services the statement addedIANS https://dailyworld.in/business/lpg-ship-jag-vikram-reaching-kandla-on-tuesday-with-20-400-tonnes-cargo-669199.html Mon, 13 Apr 2026 20:08:00 +0530 https://dailyworld.in/business/bok-calls-for-introduction-of-circuit-breakers-for-crypto-exchanges-669105.html Seoul April 13 The central bank on Monday called for the introduction of mechanisms similar to the bourse operators circuit breakers for cryptocurrency exchanges citing the absence of such systems as a key factor behind a recent erroneous payment incident In February Bithumb attempted to distribute bitcoin worth about 620000 won US460 as prizes for a customer event but accidentally ended up distributing 620000 bitcoins worth about 60 trillion won due to an employee input error reports Yonhap news agencyImmediately after the incident some users sold off the wrongly credited bitcoins in large volumes causing bitcoin prices on Bithumb to plunge temporarily Other users suffered losses due to panic selling and automatic sell orders while some bitcoinbacked loans were forcibly liquidatedThe primary cause was the lack of internal control systems designed to prevent such operational risks the Bank of Korea BOK said in its annual payment and settlement report Compared to traditional financial institutions the crypto asset industry has weaker internal controls and lower regulatory standardsAt the time of the incident Bithumb allowed staff to distribute bitcoin without approval from supervisors or verification by internal monitoring departmentsDelays in recognising the incident and responding to it were also cited as factors that worsened the damage as the exchanges fraud detection system failed to function properly the BOK saidTo address the issue the central bank said it is necessary to consider introducing systemlevel safeguards similar to the Korea Exchange KRXs circuit breakers which can halt trading in the event of abnormal transactions such as largevolume orders or sharp price fluctuationsThere is a need for IT systems that can automatically and in real time verify whether internal ledgers match blockchain balances and prevent erroneous payments caused by human error the BOK said IANS https://dailyworld.in/business/bok-calls-for-introduction-of-circuit-breakers-for-crypto-exchanges-669105.html Mon, 13 Apr 2026 09:20:00 +0530 https://dailyworld.in/business/indian-stock-markets-slump-2-pc-amid-fresh-jitters-as-us-iran-talks-fail-669113.html Mumbai April 13 Domestic equity benchmarks traded sharply lower on Monday declining around 2 per cent each amid weak global cues after the US and Iran failed to make progress on peace talks Sensex plunged as much as 216 per cent or 1675 points to 7587485 hitting an intraday low in early trade while Nifty traded at 23555 down around 500 points or 205 per cent amid selling pressure in banking and financial realty auto and energy stocksEicher Motors Maruti Suzuki Shriram Finance Bajaj Finance and HDFC Bank were among the top losers All sectoral indices traded in the redCategorywise smallcap indices dropped the most with the Nifty Smallcap 100 trading 2 per cent lower and the Nifty Smallcap 250 down 2 per cent following declines in midcap and largecap scripsMoreover the India VIX the volatility index was trading more than 13 per cent higherAnalysts said global sentiment has turned sharply riskaverse following renewed escalation in geopolitical tensionsAccording to them this development is critical as the Hormuz route carries a significant portion of global oil supply Crude oil prices which had corrected from above 110 to the 94â100 range have now surged back above 105 reintroducing inflationary and macroeconomic concernsThey further added that for India the implications are immediate and significant With over 85 per cent of crude oil imports dependent on this route rising oil prices could pressure the current account deficit weaken the rupee and elevate inflation expectationsâVolatility is expected to remain high through the week especially with ongoing geopolitical developments inflation data and earnings announcements acting as nearterm triggersâ they saidIn addition Brent crude futures traded at 10340 per barrel up 861 per cent while US WTI crude jumped 938 per cent to 10563In Asian markets major indices traded in negative territory with the Nikkei declining over 1 per cent the Hang Seng down 1 per cent and the KOSPI plunging more than 1 per centWall Street ended on a mixed note with the SampP 500 settling 7 points or 011 per cent lower while the Nasdaq finished 80 points or 035 per cent higher IANS https://dailyworld.in/business/indian-stock-markets-slump-2-pc-amid-fresh-jitters-as-us-iran-talks-fail-669113.html Mon, 13 Apr 2026 09:54:00 +0530 https://dailyworld.in/business/crude-oil-prices-surge-nearly-10-pc-to-cross-100-as-us-moves-to-block-hormuz-669118.html Mumbai April 13 International crude oil prices surged on Monday climbing nearly 10 per cent and crossing the 100 per barrel mark following the US Navyâs move to blockade the Strait of Hormuz amid stalled peace talks Brent crude futures jumped 861 per cent or 8 to hit an intraday high of 10340 Similarly US West Texas Intermediate WTI crude traded at 10563 up 938 per cent or 9On the domestic front crude oil futures April 20 contract on the Multi Commodity Exchange MCX were trading at Rs 9850 up 761 per cent or Rs 697The sharp rise in oil prices came after US President Donald Trump announced the US Navy would begin blockading the Strait of HormuzThe US President said Iran had âfailed to keep the waterway openâ and warned that the US would block âany and all ships trying to enter or leaveâ the Strait citing concerns over maritime security and potential disruption to global oil suppliesNotably the US and Iran had agreed to a twoweek ceasefire on April 8 aimed at easing tensions and ensuring the reopening of the Strait of Hormuz a key global oil transit routeHowever the latest escalation indicates a breakdown in those efforts raising concerns over supply disruptionsThe Strait of Hormuz is a vital transit route for global crude shipments and any disruption has immediate implications for supply chains and pricesMeanwhile domestic equity markets traded lower with benchmark indices Sensex and Nifty plunging around 2 per cent in early trade amid rising global risk aversionIn Asian markets major indices traded in the red with key indices the Nikkei the Hang Seng and the KOSPI declining over 1 per cent each IANS https://dailyworld.in/business/crude-oil-prices-surge-nearly-10-pc-to-cross-100-as-us-moves-to-block-hormuz-669118.html Mon, 13 Apr 2026 10:28:00 +0530 https://dailyworld.in/business/gold-silver-trade-lower-as-us-hormuz-blockade-rattles-markets-669125.html Mumbai April 13 Gold and silver prices on Monday traded under pressure with the precious metals witnessing a decline of up to 2 per cent after the US announced a blockade of the Strait of Hormuz On the Multi Commodity Exchange MCX gold futures June 5 contract declined as much as 078 per cent or Rs 1195 to hit an intraday low of Rs 151457 per 10 gram Meanwhile silver futures dropped by Rs 6084 or 25 per cent to Rs 237190 per kg hitting an intraday low as of 1014 amThe yellow metal touched an intraday high of Rs 151999 up Rs 653 or 042 per cent from the previous sessionâs closeThe white metal logged an intraday high of Rs 239068 down Rs 4206 or 172 per centOn the global front precious metals also traded lower COMEX gold was at 4626 down 337 per cent or 161 while spot gold traded at 471838 lower by 30 or 061 per centCOMEX silver fell 514 per cent or 39 to 7254 while spot silver traded at 7443 down 144 or 190 per centAnalysts said COMEX gold is currently trading in the 4700â4750 range with limited upside momentum and a break below 4650 could trigger further downside toward the 4600â4570 levels On the upside resistance is seen around 4750â4770MCX gold is hovering in the Rs 151500âRs 152000 range with subdued buying interest A sustained move above Rs 154000 may revive momentum while a break below Rs 151000 could extend weakness toward lower levelsâIn silver COMEX prices remain below the 75 mark indicating a weak undertone with further downside likely if prices slip below 72 MCX silver is trading near Rs 238000 with resistance around Rs 240000 and support seen at Rs 237000â they addedSentiment among traders and investors hit by a fresh escalation in the West Asia conflict after the US and Iran failed to make progress in peace talksUS President Donald Trump on Sunday announced a blockade of the Strait of HormuzDomestic equity benchmarks Sensex and Nifty slumped 2 per cent in early trade while major Asian indices declined up to 1 per centMeanwhile the Indian rupee opened 55 paise lower on Monday The domestic currency began the session at 9328 against the US dollar IANS https://dailyworld.in/business/gold-silver-trade-lower-as-us-hormuz-blockade-rattles-markets-669125.html Mon, 13 Apr 2026 11:21:00 +0530 https://dailyworld.in/business/indian-mutual-fund-industrys-aum-rises-12-pc-to-rs-7373-lakh-crore-in-fy26-669133.html Mumbai April 13 The domestic mutual fund industry closed FY26 with assets under management AUM rising 122 per cent to Rs 7373 lakh crore adding Rs 8 lakh crore to its asset base over the year as sustained equity market volatility weighed on overall growth according to latest data released by the Association of Mutual Funds in India AMFI In addition to the fullyear AUM growth March data pointed to a sharp rebound in equity fund appetite even after geopolitical tensions Inflows into actively managed equity mutual funds rose to Rs 4045026 crore in the month which is the highest since July 2025 up from Rs 2597781 crore in FebruaryMeanwhile SIP contributions hit a record high of Rs 32087 crore in March compared to Rs 29845 crore the previous month underscoring sustained retail investor participation even amid market turbulenceAnalysts attributed the surge in equity inflows to yearend portfolio allocations opportunistic deployment of capital during recent corrections and the perception of improved valuations following the West Asialinked selloffHowever the overall mutual fund industry reported net outflows of Rs 239 lakh crore in March against net inflows of Rs 94530 crore in February Debt mutual funds witnessed outflows of Rs 294 lakh crore in MarchAdditionally Gold ETF inflows nearly halved to Rs 2266 crore in March against Rs 525495 crore in FebruaryAmong equity categories flexicap funds led inflows at Rs 1005412 crore up from Rs 692465 crore in February Smallcap and midcap funds attracted Rs 626356 crore and Rs 606353 crore respectively compared to Rs 388106 crore and Rs 400299 crore in the previous month While largecap funds drew Rs 299784 croreMoreover the AUM accretion was sharply lower compared to the nearly 23 per cent growth recorded in FY25 and the 36 per cent surge in FY24During the year market fluctuations occurred due to elevated valuations subdued corporate earnings geopolitical tensions including traderelated concerns continued foreign institutional investor FII selling and the absence of AIlinked investment flowsHowever selling pressure intensified more recently following the USIranIsrael conflict which pushed crude oil prices higher and raised concerns over Indias fiscal outlook IANS https://dailyworld.in/business/indian-mutual-fund-industrys-aum-rises-12-pc-to-rs-7373-lakh-crore-in-fy26-669133.html Mon, 13 Apr 2026 12:08:00 +0530 https://dailyworld.in/business/india-uk-join-hands-to-create-propulsion-testing-facility-for-unmanned-aviation-669144.html New Delhi April 13 IANS The Central governments Technology Development Board TDB entered an agreement with Gurugrambased Casey Aviation Private Limited to develop an advanced hybrid propulsionbased Jump TakeOff JTO system for enhancing the operational capabilities of unmanned and light aircraft platforms an official statement said on MondaynbspThe proposed solution integrates hybrid propulsion technologies to enable short or nearvertical takeoff capabilities for platforms such as gyrocopters and unmanned aerial systemsThe project also envisaged the establishment of a dedicated test bench facility for validating rotorcraft propulsion systems as a critical infrastructure for testing and optimisation of nextgeneration aerial mobility technologies the statement from the Ministry of Science ampamp Technology saidIt will be the first such propulsion testing facility in North India a validated testing infrastructure for startups and developers working in unmanned and advanced aerial mobility systemsThe governmentrun board has sanctioned a conditional grant for the project titled Boost Electric Jump TakeOff BEJTO under the IndiaUK Collaborative RampampD Programme for Industrial Sustainability in partnership with UKbased ARC Aerosystems LtdBy enabling reduced takeoff distances and improved operational flexibility the technology is expected to support a wide range of applications including regional connectivity disaster response medical evacuation unmanned logistics and surveillance operations particularly in remote and inaccessible regions the statement saidApart from inhouse development support broader ecosystem benefits will accrue from offering testing services and facilitating the commercialisation of hybrid propulsion solutionsRajesh Kumar Pathak Secretary TDB said that collaborative RampampD initiatives under international programmes are crucial in advancing cuttingedge technologies in strategic sectorsHe noted that innovations in hybrid propulsion and advanced takeoff systems can significantly enhance Indias capabilities in unmanned aviation and regional air mobility while contributing to sustainable and efficient aviation solutionsCasey Aviation Private Limited a newly established aerospace venture designs and develops small aircraft and specialised aviation solutionsIANS https://dailyworld.in/business/india-uk-join-hands-to-create-propulsion-testing-facility-for-unmanned-aviation-669144.html Mon, 13 Apr 2026 12:24:00 +0530 https://dailyworld.in/business/govt-eases-cafe-2027-norms-cuts-compliance-edge-for-heavy-vehicles-669157.html New Delhi April 13 IANS The government has proposed a softer set of Corporate Average Fuel Efficiency CAFE norms for the 20272032 period offering relief to the domestic auto industry NDTV Profit reportednbspAccording to a revised draft prepared by the Ministry of Power in consultation with the Bureau of Energy Efficiency BEE the government has moved away from a rigid target framework in favour of a phased tightening approach The proposal includes a flatter compliance curve reducing the advantage previously enjoyed by heavier vehiclesKnown as CAFE 2027 the draft represents the third stage of Indias fleetlevel fuel economy road map aimed at aligning the automobile sector with the countrys broader climate and energy goalsThe norms are set to take effect from April 1 2027 and will tighten progressively through FY32 the report saidThe report added that the revised framework marks a notable softening from the September 2025 draft The emission curve has been recalibrated with a new slope formula set at 000158 in FY28 and easing to 000131 by FY32 allowing slightly higher fuel consumption than previously proposedThe draft also includes super credits for electric and hybrid vehicles allowing them to count as multiple vehicles when calculating fleetlevel emissions Plugin hybrids and flexfuel hybrids are expected to receive higher multipliers under the proposed frameworkCredit trading between manufacturers has also been permitted providing carmakers additional flexibility in managing compliance obligationsHowever penalties for noncompliance could run into hundreds of crores of rupees for large manufacturers making the EV and hybrid credit mechanism a significant financial lever for the industry the report saidAdditionally niche manufacturers producing fewer than 1000 units annually have been exempted from compliance requirements offering relief to smallvolume playersIANS https://dailyworld.in/business/govt-eases-cafe-2027-norms-cuts-compliance-edge-for-heavy-vehicles-669157.html Mon, 13 Apr 2026 12:42:00 +0530 https://dailyworld.in/business/make-in-india-boost-ge-aerospace-iaf-to-set-up-engine-repair-facility-in-india-for-tejas-fleet-669177.html New Delhi April 13 IANS In a boost to Make in India USbased aircraft engine maker GE Aerospace on Monday announced a new agreement with the Indian Air Force to set up an incountry depot facility for F404IN20 engines that power the HAL Tejas fighter jetsnbspThe upcoming facility will be established in India and operated by the Indian Air Force with technical support from GE AerospaceThe move is aimed at strengthening Indias indigenous defence maintenance capabilities and reducing reliance on overseas repair centresOnce operational the depot is expected to significantly cut down the turnaround time for engine repairs and maintenanceUnder the agreement the depot will be owned operated and maintained by the IAF GE Aerospace will provide technical expertise training support staff and ensure the supply of necessary spare parts and specialised equipment required for smooth operationsRita Flaherty Vice President of Sales and Business Development for Defence and Systems at GE Aerospace said the partnership reflects the companys continued commitment to supporting Indias armed forcesFlaherty added that the new facility will help improve the availability of F404IN20 engines for the Tejas fleet ensuring that the IAF has timely access to advanced technology for its defence needsGE Aerospace also highlighted its broader presence in Indias defence ecosystem Its engines power several key platforms including the Indian Navys P8I maritime patrol aircraft and MH60R helicopters as well as the Indian Air Forces AH64 Apache helicoptersIn addition LM2500 marine gas turbines from the company are used in the INS Vikrant aircraft carrier and the P17 Shivalikclass frigatesThe company has been part of Indias aviation sector for more than four decades Its Pune manufacturing facility along with 13 domestic partners is integrated into its global supply chain further strengthening its footprint in the countryIANS https://dailyworld.in/business/make-in-india-boost-ge-aerospace-iaf-to-set-up-engine-repair-facility-in-india-for-tejas-fleet-669177.html Mon, 13 Apr 2026 14:10:00 +0530 https://dailyworld.in/business/office-leasing-in-india-rises-10-pc-to-21-mn-sq-ft-in-q1-strongest-in-5-years-669178.html New Delhi April 13 The office leasing market in India witnessed a 10 per cent yearonyear YoY growth to 216 million sq ft in the first quarter of 2026 marking the strongest leasing activity in the past five years according to a report released on Monday According to the Savills India report in terms of supply the activity declined by 28 per cent yearonyear to 79 million sq ft while the overall vacancy rate eased to 139 per cent during the same period supported by steady leasing activity and disciplined supply additionsSectorwise the technology industry dominated leasing activity with a 32 per cent share followed by flexible workspaces at 22 per cent and BFSI at 12 per cent the report saidLarge deals 100000 sq ft or more continued to drive market activity contributing 52 per cent to overall transactions during the quarterIndiaâs office market has entered 2026 on a strong footing despite global headwinds with Q1 absorption of 216 million sq ft up 10 per cent yearonyear said Naveen Nandwani MD Commercial Advisory and Transactions Savills IndiaHe added that demand remains resilient led by technology BFSI manufacturing and flexible workspace operators with global capability centres GCCs continuing to fuel momentumBengaluru and DelhiNCR together accounted for around 5 million sq ft of new completions during the period representing nearly twothirds of the total supply added across IndiaCitywise Bengaluru retained its position as the leading office market recording 6 million sq ft of leasing activity an increase of 25 per cent yearonyear driven by ITBPM operatorsMeanwhile DelhiNCR recorded gross absorption of 36 million sq ft in Q1 2026Hyderabad emerged as a strong performer with gross absorption rising 39 per cent yearonyear to 43 million sq ft supported by large deals and strong demand from GCC occupiers Pune also saw healthy traction with leasing activity increasing 20 per cent yearonyear to 3 million sq ft However Mumbai saw gross absorption of 28 million sq ft a decline of 15 per cent yearonyear amid delayed expansion plans by occupiers IANS https://dailyworld.in/business/office-leasing-in-india-rises-10-pc-to-21-mn-sq-ft-in-q1-strongest-in-5-years-669178.html Mon, 13 Apr 2026 14:13:00 +0530 https://dailyworld.in/business/8th-pay-commission-what-employees-and-pensioners-can-expect-669022.html New Delhi April 12 As central government employees and pensioners await the rollout of the 8th Pay Commission expectations around salary and pension hikes are steadily building across the country Key aspects such as the fitment factor implementation timeline likely pay revisions and arrears continue to remain at the centre of discussions amid ongoing uncertaintyThe 8th Pay Commission is expected to recommend revisions in salaries pensions and allowances for central government employees and retirees These changes will also factor in adjustments to dearness allowance in line with prevailing inflation trends Typically constituted once every decade a pay commission reviews and recommends changes to the compensation structure of government employees taking into account inflation broader economic conditions income disparities and fiscal sustainability It also evaluates bonuses perks and other benefits offered across the public sectorThe Terms of Reference ToR approved by the Cabinet last year lay down the framework guiding the commissionâs work These include a comprehensive review of the basic pay structure pension systems and allowances The ToR also mandate the commission to assess the countryâs economic conditions ensure adequate fiscal space for developmental and welfare expenditure and examine the burden of unfunded pension liabilitiesAdditionally it will evaluate the likely impact of its recommendations on state finances as well as compare existing compensation structures with those in Central Public Sector Undertakings and the private sectorA key element in determining revised pay is the fitment factor a multiplier used to calculate new salaries and pensions This factor is decided based on parameters such as inflation employee requirements and the governmentâs financial capacity For the 8th Pay Commission reports suggest that the fitment factor could range between 257 and 325 which could significantly influence the extent of salary and pension increasesThe government formally notified the constitution of the 8th Pay Commission on January 17 2025 with revised pay scales expected to come into effect from January 1 2026 However based on past trends the implementation process may take time The 7th Pay Commission took around twoandahalf years to be implemented while the 6th and 5th Pay Commissions took approximately two years and threeandahalf years respectively IANS https://dailyworld.in/business/8th-pay-commission-what-employees-and-pensioners-can-expect-669022.html Sun, 12 Apr 2026 12:22:00 +0530 https://dailyworld.in/business/stock-market-outlook-us-iran-talks-q4-earnings-and-oil-prices-in-focus-for-next-week-669026.html Mumbai April 12 After staging a sharp rebound following six straight weeks of decline the Indian stock market is heading into the new week with cautious optimism While hopes of easing geopolitical tensions and a stable domestic macroeconomic backdrop lifted investor sentiment global cues corporate earnings and currency movements are expected to dictate the marketâs direction in the coming daysIn the previous week both the Indian equity indices witnessed a strong recovery with benchmark indices surging nearly 6 per cent to close near their weekly highsThe Nifty settled at 2405060 while the Sensex ended at 7755025 as investors cheered positive global developments and steady domestic fundamentalsCommenting on Nifty technical outlook experts said that a decisive break below the crucial 24000 level on the Nifty would not only negate the recent breakout but could also trigger a broader shift back to a sellonrise market structureâThe key structural factor this week is the preponed weekly expiry to Monday April 13 due to the market holiday on April 14â an analyst statedGoing into the next week global geopolitical developments will remain a key monitorable Reports of potential deescalation between the United States and Iran had initially lifted sentiment although uncertainty persists after talks failed to yield a concrete agreementAnother major driver will be the ongoing Q4 earnings season More than 50 companies are set to announce their results for the quarter ended March 31Crude oil prices will also play a crucial role in shaping market sentiment Oil futures recorded their sharpest weekly decline since 2022 as traders factored in the possibility of a temporary ceasefire and improved supply outlookAnalysts believe that as long as global cues remain supportive and domestic macros stay resilient the market could sustain its upward bias although investors are likely to remain cautious amid lingering geopolitical risks IANS https://dailyworld.in/business/stock-market-outlook-us-iran-talks-q4-earnings-and-oil-prices-in-focus-for-next-week-669026.html Sun, 12 Apr 2026 13:09:00 +0530 https://dailyworld.in/business/pakistan-hikes-electricity-tariff-in-double-whammy-after-fuel-price-rise-669051.html New Delhi April 12 Pakistanâs National Electric Power Regulatory Authority NEPRA has delivered a major shock to the countryâs consumers with an increase in electricity tariffs by Rs 142 per unit under the monthly fuel cost adjustment citing a variation in fuel charges for February 2026 The Rs 142 per unit rise for Februaryâs fuel adjustment will now be collected from consumers in April bills and according to some reports the overall additional burden consumers now have to shoulder comes to around Rs1057 billion according to an editorial piece in Pakistanâs The News InternationalAside from conserving fuel the austerity measures the government has taken in the wake of the Middle East conflict can also be seen as a way to help people save money However in this country be it the pump or the home there does not appear to be anywhere people can hide from price and tariff hikes And for now the global energy future remains murky As such Pakistanis could well find themselves paying more for fuel and for power through this month the article laments There is also the impact on the countryâs beleaguered industry to consider A representative of the Federation of Pakistan Chambers of Commerce and Industry FPCCI has reportedly said that the industrial sector has already borne an aggregate burden of Rs 5647 billion over the past three years and that further increases would be detrimental to sustainability and industrial viability the article observes However Pakistanâs power malaise long predates the Middle East turmoil In FY202425 Pakistanâs power distribution sector bled a combined Rs 397 billion due to transmission and distribution losses and weak bill recoveries If this is not in the control of the authorities it should be So should the hefty fixed payments made to power producers regardless of output and the low utilisation of power plants the report points out IANS https://dailyworld.in/business/pakistan-hikes-electricity-tariff-in-double-whammy-after-fuel-price-rise-669051.html Sun, 12 Apr 2026 14:33:00 +0530 https://dailyworld.in/business/tcs-suspends-employees-in-nashik-case-reaffirms-zero-tolerance-policy-on-harassment-669058.html New Delhi April 12 Tata Consultancy Services on Sunday said it has suspended employees under investigation in connection with the Nashik case and is fully cooperating with authorities The IT major reiterated its zerotolerance stance on harassment and coercion stating that further action will be based on the outcome of the ongoing inquiryThe Indiaâs largest IT services exporter has come under scrutiny after multiple FIRs were registered over alleged incidents of sexual harassment and religious conversion at its Nashik unitAccording to reports a total of nine FIRs have been filed in connection with the case The controversy began in March when a woman accused a colleague of maintaining a physical relationship with her on the false promise of marriageDuring the course of the investigation the police uncovered additional complaints leading to eight more FIRs related to similar allegationsThe company has responded by reiterating its âzerotoleranceâ policy towards any form of harassment or coercionIn an official statement TCS said it acted swiftly after becoming aware of the matter The employees under investigation have been suspended and the company confirmed it is cooperating fully with law enforcement authoritiesIt added that further action will depend on the outcome of the ongoing probeSo far at least six employees have been arrested in connection with the case The arrests were made based on intelligence inputs received by the Nashik Police Commissionerâs officeMeanwhile Maharashtra Chief Minister Devendra Fadnavis has taken note of the developments calling the matter âvery seriousâ He also commended the Nashik police for their prompt responseA Special Investigation Team SIT has been constituted to carry out a detailed probe The police are also questioning a human resources official based in PuneThe investigation is ongoing and authorities are expected to take further action based on the findings of the SIT IANS https://dailyworld.in/business/tcs-suspends-employees-in-nashik-case-reaffirms-zero-tolerance-policy-on-harassment-669058.html Sun, 12 Apr 2026 15:09:00 +0530 https://dailyworld.in/business/top-8-firms-market-valuation-jump-rs-413-lakh-crore-last-week-669064.html Mumbai April 12 Indian equity markets witnessed a sharp rally last week lifting the combined market valuation of eight out of the top10 most valued companies by a massive Rs 41300323 crore The gain was led by strong gains in banking heavyweights HDFC Bank and ICICI BankThe upbeat sentiment in the market was reflected in benchmark indices with the Sensex surging 42307 points or 577 per cent while the Nifty climbed 13375 points or 588 per cent during the weekAccording to Ajit Mishra of Religare Broking Limited market sentiment remained buoyant amid optimism over a temporary USIran ceasefireHowever lingering geopolitical uncertainties capped the pace of gains toward the latter part of the weekHe also noted that a sharp drop in crude oil prices below the 100 mark eased domestic concerns and supported a broadbased rebound in equitiesAmong the top performers HDFC Bank emerged as the biggest gainer adding Rs 9128267 crore to take its market capitalisation to Rs 124747857 croreICICI Bank followed closely with its valuation jumping Rs 7603636 crore to Rs 94674185 croreFinancial services major Bajaj Finance saw its market value surge by Rs 6098035 crore to Rs 57520647 crore while engineering giant Larsen amp Toubro added Rs 4762497 crore taking its valuation to Rs 54473659 croreTelecom major Bharti Airtel gained Rs 4587343 crore to reach a market capitalisation of Rs 106629369 crorePublic sector lender State Bank of India also witnessed a strong rally with its valuation rising Rs 4361467 crore to Rs 98462998 croreIn the IT space Tata Consultancy Services added Rs 2630349 crore to its market cap which stood at Rs 91333192 croreFMCG major Hindustan Unilever also posted gains with its valuation climbing Rs 2128729 crore to Rs 50647789 croreHowever not all companies shared in the rally IT giant Infosys saw its market capitalisation decline by Rs 328503 crore to Rs 52412440 croreSimilarly Reliance Industries experienced a marginal erosion of Rs 94728 crore taking its valuation to Rs 182708679 croreDespite the dip Reliance Industries retained its position as Indiaâs most valued company followed by HDFC Bank Bharti Airtel State Bank of India ICICI Bank and Tata Consultancy Services IANS https://dailyworld.in/business/top-8-firms-market-valuation-jump-rs-413-lakh-crore-last-week-669064.html Sun, 12 Apr 2026 15:48:00 +0530 https://dailyworld.in/business/over-12-lakh-5-kg-lpg-cylinders-sold-to-students-vulnerable-communities-since-march-23-centre-668959.html New Delhi April 11 IANS More than 515 lakh domestic LPG cylinders were delivered on April 10 the government said on Saturday adding that about 1 lakh 5kg FTL cylinders were sold across the country on the same day against a daily average of 77000 in the month of February 2026nbspSince March 23 2026 more than 12 lakh 5kg Free Trade LPG cylinders have been sold to students and vulnerable communities including migrant labourers informed Petroleum MinistryThe government has conveyed that daily quantity of 5kg FTL cylinders in each state available for disbursal to migrant labourers is being doubled based on the average daily supply number of cylinders to migrant labourers during March 23 beyond the limit of 20 per cent mentioned in letter dated 21032026nbspThese 5kg FTL cylinders will be at disposal of the state government for supplying only to migrant labourers in their state with assistance of Oil Marketing Companies OMCsPSU OMCs have organised around 2900 awareness camps for 5kg FTL cylinders during last 8 days wherein more than 29000 5kg FTL cylinders were also sold said the governmentCitizens are advised to avoid panic purchase of petrol diesel and LPG and rely only on official sources for information LPG consumers are requested to use digital booking platforms and avoid visiting distributors Citizens are encouraged to use alternate fuels such as PNG and electric or induction cooktops All citizens are urged to conserve energy in their daily use during the current situation according to the ministryDespite the ongoing geopolitical situation the government has prioritised domestic LPG and PNG supply along with high priority for hospitals and educational institutionsThe government has already implemented several rationalisation measures on both the supply and demand side including enhancing refinery production increasing the booking interval from 21 to 25 days in urban areas and up to 45 days in rural areas and prioritising sectors for supply the statement further saidIANS https://dailyworld.in/business/over-12-lakh-5-kg-lpg-cylinders-sold-to-students-vulnerable-communities-since-march-23-centre-668959.html Sat, 11 Apr 2026 18:24:00 +0530 https://dailyworld.in/business/india-flagged-lpg-vessel-jag-vikram-safely-crosses-strait-of-hormuz-govt-668960.html New Delhi April 11 IANS The Government on Saturday said in a routine briefing that the Indiaflagged LPG vessel Jag Vikram has safely crossed the Strait of Hormuz even as authorities continue to closely monitor maritime operations amid heightened tensions in the Gulf regionnbspThe vessel carrying around 20400 metric tonnes of LPG with 24 seafarers onboard is expected to reach Mumbai on April 15 the Ministry of Ports Shipping and Waterways saidReassuring the safety of Indian maritime assets the government said all Indian seafarers in the region are safe and no incident involving Indianflagged vessels has been reported in the past 24 hoursIt further added that necessary measures have been put in place to safeguard Indian vessels and seafarers operating in the region with continuous monitoring through a 24x7 Shipping Control RoomThe control room has handled 5973 calls and over 12675 emails since its activation including 128 calls and 319 emails in the last 24 hoursThrough the Directorate General of Shipping DG Shipping the government has facilitated the safe repatriation of over 2009 Indian seafarers so far including 81 in the past 24 hours from various locations across the Gulf regionPort operations across the country remain normal with no congestion reported it saidCoordination is ongoing with the Ministry of External Affairs Indian missions and maritime stakeholders to ensure seafarer welfare and uninterrupted operations according to the governmentMeanwhile the Ministry of External Affairs MEA said Indian missions across the Gulf and West Asia region remain in close contact with the Indian community and are providing assistance and issuing advisories for their safetyThe Government is closely monitoring developments in the region and is in regular contact with state governments and Union Territories to ensure effective coordination the MEA saidIANS https://dailyworld.in/business/india-flagged-lpg-vessel-jag-vikram-safely-crosses-strait-of-hormuz-govt-668960.html Sat, 11 Apr 2026 18:45:00 +0530 https://dailyworld.in/business/fuel-price-shocks-ripple-pakistans-economy-hit-households-668966.html New Delhi April 11 IANS As geopolitical tensions rise following Israels attack on Lebanons Hezbollah Pakistans already fragile economy is facing added pressure with rising fuel prices rippling across the broader economy driving up the cost of essential goods and straining households a report has saidnbspAccording to a Business Recorder report fuel price adjustments typically driven by global crude oil trends exchange rate movements and fiscal pressures have had a more pronounced impact in Pakistan due to structural weaknesses and limited regulatory oversightIt further stated that fuel is a key input across sectors and any increase in prices quickly feeds into transportation costs which in turn raises the prices of food and other essential commodities As supply chains become more expensive the burden is passed on to consumers amplifying inflationary pressuresIn Pakistans case fuel price increases do not remain confined to energy costs they cascade through the entire economy the report saidThe situation is further exacerbated by loosely regulated markets where intermediaries often pass on higher costs while adding margins leading to price increases that exceed the actual impact of fuel hikesThe report also highlighted the role of psychological inflation where expectations of rising costs prompt businesses to increase prices in advance compounding the effect on consumersFor households particularly those with limited incomes and savings the cumulative impact is significant Rising fuel costs translate into higher daily expenses reduced purchasing power and growing uncertainty over future spendingPakistans fiscal constraints including commitments linked to International Monetary Fund IMF programmes have limited the governments ability to absorb price shocks through subsidies making such adjustments unavoidableHowever concerns remain over policy consistency with abrupt price revisions and occasional reversals adding to market uncertainty According to the report clearer communication and predictable pricing mechanisms could help moderate the wider economic impactUntil then fuel price shocks are likely to continue reverberating across Pakistans economy intensifying inflationary pressures and deepening the strain on householdsIANS https://dailyworld.in/business/fuel-price-shocks-ripple-pakistans-economy-hit-households-668966.html Sat, 11 Apr 2026 19:36:00 +0530 https://dailyworld.in/business/tripura-emerges-fastest-growing-economies-in-ne-attracts-rs-2-000-cr-investment-interest-at-bengaluru-conclave-668896.html BengaluruAgartala April 11 Tripura has emerged as one of the fastestgrowing economies in the Northeastern region with GDP performance comparing favourably with other states a top official said Tripura Industries and Commerce Department Secretary Kiran Gitte while addressing a Business Conclave in Bengaluru said on Friday that sustained public investment improved governance outcomes and a growing focus on private sector participation are steadily reshaping perceptions about the states economic potentialAddressing the gathering the senior IAS officer said that the Tripura government is proactively strengthening the Ease of Doing Business framework through a series of policy reforms procedural simplifications and timebound approval mechanismsHe emphasised that Tripura offers significant untapped potential across both emerging and traditional sectorsThis is supported by a skilled talent pool improving connectivity and a responsive institutional frameworkHe encouraged industry participants to explore longterm partnership opportunities with the stateThe Bengaluru roadshow and Business Conclave was organised as a focused outreach initiative aimed at engaging industry leaders investors startups and institutional stakeholders from southern IndiaThe roadshow resulted in the signing of 44 Letters of Intent LoIs and Memorandums of Understanding MoUs amounting to investment commitments worth more than Rs 2000 crore across multiple sectorsThe programme presented a comprehensive overview of Tripuras industrial ecosystem highlighting recent infrastructure developments progressive policy initiatives and sectorspecific investment opportunities with a strong emphasis on investment facilitation and ease of doing businessHighlighting Tripuras strategic geographical location Gitte underscored the states growing economic and trade engagement with Bangladesh which is significantly enhancing regional connectivity and improving access to international marketsHe noted that this strategic positioning is creating fresh opportunities across logistics valueadded manufacturing services and crossborder tradelinked industriesProviding a detailed sectoral perspective Industries and Commerce Department Director Deepak Kumar outlined investment opportunities across priority sectors such as IT and digital services electronics and technologyenabled manufacturing education and skill development healthcare and pharmaceuticals tourism and hospitality agri and food processing bamboo rubber and agarwoodbased industries renewable energy urban infrastructure real estate handloom and handicrafts as well as manufacturing and allied industriesKumar elaborated on the states investorcentric incentive framework availability of industrial land identification of suitable project locations and the endtoend facilitation support being extended to investors from project conceptualisation to implementation and operationalisationHe emphasised that the department is committed to ensuring ease of entry faster approvals and continued postinvestment handholding for all investorsPradeep Krishnaraj Director of Skill Development highlighted Tripuras structured and industrylinked skilling ecosystemHe noted that it is supported by flagship programmes and partnerships designed to ensure a steady pipeline of skilled manpower aligned with emerging sectors and investor requirementsMegha Jain Director of the Urban Development Department outlined Tripuras planned urban development initiatives including integrated townships and redevelopment projectsThese are aimed at supporting sustainable growth modern infrastructure and enhanced private sector participation through PPPbased modelsThe Business Conclave featured detailed departmental presentations interactive discussions and onetoone B2G meetingsDuring these sessions senior state government officials engaged directly with participating investors to understand business interests and clarify policy and procedural aspectsOfficials said that the Bengaluru roadshow successfully strengthened Tripuras engagement with the southern India business ecosystem while reinforcing the states positioning as an investmentready reformdriven and rapidly emerging economy in the NortheastThe event marks an important step ahead of the Destination Tripura Business Conclave 2026 which is scheduled to be held in Agartala IANS https://dailyworld.in/business/tripura-emerges-fastest-growing-economies-in-ne-attracts-rs-2-000-cr-investment-interest-at-bengaluru-conclave-668896.html Sat, 11 Apr 2026 08:54:00 +0530 https://dailyworld.in/business/indian-markets-surge-for-second-consecutive-week-amid-us-iran-ceasefire-668906.html Mumbai April 11 IANS Indian equity benchmarks closed in green for the second consecutive week amid huge short covering due to the USIran ceasefirenbspNifty gained 589 per cent during the week and added 116 per cent on the last trading day to reach 24050 At close the Sensex was up 918 points or 120 percent at 77550 It gained 577 per cent during the weekBoth indices showed strengthening momentum and improved investor confidenceBank Nifty overperformed the broader market closing at 55912 up 199 per cent on Friday It posted a steep weekly surge of 847 per centOn the weekly timeframe the Bank Nifty index has formed a strong bullish candle suggesting continued strength and potential for further upside if momentum sustainsThe index is likely to find support in the 5370053000 range while resistance is placed around the 5670057700 zone market participants saidAnalysts noted that Niftys movement indicated strong buying participation and reflects a bullish undertone in the marketnbspFrom a technical standpoint the 2350023150 range is likely to act as a key support zone On the upside resistance is expected in the 2450025000 band they saidMeanwhile India VIX fell by 772 per cent to close at 1885 pointing to reduced volatility and a decline in market fear However the volatility remains high as doubts grow over the sustainability of the USIran truceSectorally Nifty realty capital markets and financial services emerged as the top gainers on a weekly basis up 1297 per cent 117 per cent and 108 per cent respectivelyBroader indices performed in line with the benchmark indices during the week as the Nifty Midcap100 added 776 per cent while Nifty Smallcap100 gained 760 per centInvestors remain keen on developments in the USIran negotiations crude oil price movements and foreign fund flowsIANS https://dailyworld.in/business/indian-markets-surge-for-second-consecutive-week-amid-us-iran-ceasefire-668906.html Sat, 11 Apr 2026 12:26:00 +0530 https://dailyworld.in/business/india-to-scale-nuclear-capacity-to-reach-100-gw-by-2047-report-668908.html New Delhi April 11 IANS India has set a major target to scale up its nuclear power capacity to at least 100 GW by 2047 marking the centenary of its independence as it looks to strengthen longterm energy security and reduce dependence on fossil fuels according to a new reportnbspAs per a report by Khaleej Times the country currently operates 24 nuclear reactors with a combined capacity of 8780 MWe Megawatt electric while eight more reactors with a capacity of 6028 MWe are under constructionGovernment projections indicate that installed nuclear capacity will rise to around 22 GW by the early 2030s before expanding sharply to meet the 100 GW targetTo achieve this more than elevenfold increase India is pursuing a twopronged strategy that includes the development of large reactors such as indigenous 700 MWe pressurised heavy water reactors PHWRs and imported largecapacity units at greenfield sites alongside smaller modular systems like the 200 MWe Bharat Small Modular Reactors BSMRs and 55 MWe SMR55 units the report saidA key milestone in this journey was achieved on April 6 2026 when the 500 MWe Prototype Fast Breeder Reactor PFBR at Kalpakkam in Tamil Nadu attained first criticality the start of a controlled nuclear fission chain reactionThe development is being seen as a major step in advancing Indias indigenous nuclear technology and ensuring longterm fuel sustainabilityIndias nuclear programme is built around a threestage strategy designed to maximise limited uranium resources while leveraging its vast thorium reservesThe first stage uses PHWRs fuelled by natural uranium to produce plutonium The second stage involves fast breeder reactors that use plutonium as fuel and generate more fissile material than they consume The final stage aims to utilise thoriumbased reactors producing uranium233 to sustain longterm nuclear power generationAccording to the report the PFBR uses uraniumplutonium mixed oxide MOX fuel and liquid sodium as a coolant enabling it to produce more fuel than it consumes while paving the way for eventual thorium useThe 500 MWe reactor is capable of supplying electricity to around half a million homesIANS https://dailyworld.in/business/india-to-scale-nuclear-capacity-to-reach-100-gw-by-2047-report-668908.html Sat, 11 Apr 2026 14:43:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-sharply-higher-despite-geopolitical-jitters-668723.html Mumbai April 10 Indian equity benchmarks traded sharply higher on Friday mirroring gains in global markets despite fresh geopolitical tensions and concerns over the closure of the Strait of Hormuz Sensex climbed as much as 082 per cent or 630 points to hit an intraday high of 77261 in early trade while Nifty surged 085 per cent or 203 points to trade at 23978Earlier the 30share Sensex opened at 77121 up 064 per cent or 489 points while the 50share index began the session at 23880 gaining 044 per cent or 100 pointsSectorally banking realty auto energy and metal stocks emerged as top gainers while the IT sector traded in negative territory Infosys Sun Pharma Tech Mahindra HCL Tech and HUL were among the top losersAccording to analysts the extent of the drawdown in equity markets does not appear significant relative to the sharp movement and shock seen in energy markets This likely reflects expectations that energy prices may ease going forwardOur base case is that energy prices will gradually move lower over the next three to six months they saidAnalysts added that while there could be a marginal impact on growth and a slight uptick in inflation the overall environment remains constructive for equities especially with the upcoming earnings season expected to be strongOn the global front Asian markets traded higher Japanâs Nikkei rose over 1 per cent or more than 900 points to 56815 while Hong Kongâs Hang Seng gained around 200 points or 07 per cent to 25936 South Koreaâs KOSPI surged 15 per cent or about 100 points to 587720 Other regional indices also traded in positive territoryMeanwhile Wall Street in the US closed in the green with the SampP 500 rising 062 per cent or 42 points to 682466 and the Nasdaq gaining 082 per cent or 18666 points to end at 2282166Crude oil prices also moved higher with Brent crude rising 113 per cent to 9701 per barrel while US WTI crude gained 139 per cent to 9924 IANS https://dailyworld.in/business/sensex-nifty-trade-sharply-higher-despite-geopolitical-jitters-668723.html Fri, 10 Apr 2026 09:52:00 +0530 https://dailyworld.in/business/seoul-shares-extend-gains-on-us-iran-ceasefire-optimism-668724.html Seoul April 10 Seoul shares extended gains late on Friday morning tracking overnight advances on Wall Street amid optimism over upcoming negotiations between the United States and Iran following their twoweek ceasefire deal in the Middle East conflict The benchmark Korea Composite Stock Price Index KOSPI rose 10321 points or 179 percent to 588122 as of 1120 amOvernight the Dow Jones Industrial Average gained 058 percent while the techheavy Nasdaq Composite advanced 083 percent reports Yonhap news agencyInvestor sentiment was supported by geopolitical developments in the Middle East Israeli Prime Minister Benjamin Netanyahu on Thursday approved direct talks with Lebanon aimed at disarming Iranbacked Hezbollah militants in a move seen as potentially reinforcing ceasefire effortsNetanyahu earlier said no formal ceasefire agreement exists between Israel and LebanonThe US and Iran are expected to begin negotiations over the weekend to formalise the ceasefire terms US President Donald Trump said overnight he is optimistic about reaching a deal while warning Tehran against interfering with shipping in the Strait of HormuzInstitutional and foreign investors purchased a net 873 billion won US59 million and 39394 billion won worth of shares respectively outweighing retail investors net selling of 631 billion wonMost largecap stocks traded higherMarket bellwether Samsung Electronics rose 221 percent and its chip rival SK hynix jumped 341 percentTop carmaker Hyundai Motor gained 02 percent and leading shipbuilder HD Hyundai Heavy Industries rose 181 percentAmong decliners leading refiner SK Innovation fell 218 percent and leading battery maker LG Energy Solution declined 19 percentThe local currency was trading at 148095 won against the greenback at 1120 am up 155 won from the previous session according to the report IANS https://dailyworld.in/business/seoul-shares-extend-gains-on-us-iran-ceasefire-optimism-668724.html Fri, 10 Apr 2026 09:53:00 +0530 https://dailyworld.in/business/india-to-outpace-china-other-economies-as-growth-slows-in-asia-pacific-region-adb-668732.html New Delhi April 10 India is set to outpace the broader Asian region and China even as growth across developing Asia and the Pacific is projected to slow down over the next two years amid geopolitical headwinds according to a report released by Asian Development Bank ADB on Friday According to the ADB analysis economic growth in developing Asia and the Pacific is projected to ease to 51 per cent in 2026 and 2027 down from 54 per cent last year weighed by geopolitical tensions and persistent trade uncertaintyIn contrast Indiaâs growth is forecast to remain relatively robust at 69 per cent in 2026 before accelerating to 73 per cent in 2027 supported by resilient domestic consumptionMost economies in developing Asia and the Pacific will see their growth outlook worsen this year and in 2027 the report noted as it highlighted Indiaâs relative strengthMoreover the ADB said the region is entering this uncertain global environment from a position of strength backed by robust domestic demand steady labour markets and higher public infrastructure spending However risks remain tilted to the downsideGrowth in the Peopleâs Republic of China PRC is projected to decline to 46 per cent this year and 45 per cent next year from 5 per cent last year with continued property market weakness and slower export expansion expected to weigh on activity the report saidA prolonged conflict in the Middle East could push up energy and food prices and tighten financial conditions posing the biggest threat to the regionâs outlook ADB Chief Economist Albert Park saidThe report also flagged that continued volatility in global trade policies could further weigh on growth prospects across the regionDespite these headwinds resilient private consumption and strong demand for artificial intelligencerelated goods are expected to provide some support to regional economiesIn addition oil prices are projected to stay elevated in the near term but would gradually stabilise if geopolitical tensions eased IANS https://dailyworld.in/business/india-to-outpace-china-other-economies-as-growth-slows-in-asia-pacific-region-adb-668732.html Fri, 10 Apr 2026 10:29:00 +0530 https://dailyworld.in/business/gold-silver-decline-nearly-1-pc-as-profit-booking-offsets-demand-668747.html New Delhi April 10 Gold and silver prices witnessed a decline of around 1 per cent on Friday on the Multi Commodity Exchange MCX as investors booked profits amid easing safehaven demand MCX gold declined 056 per cent to hit an intraday low of Rs 152561 per 10 grams while silver futures May 5 plummeted 07 per cent by logging an intraday low of Rs 242067 per kg against the previous closeThe yellow metal touched an intraday high of Rs 152990 a decrease of 028 per cent or Rs 444 It was trading at Rs 152810 down Rs 624 or 041 per cent at 1120 amOn the other side the white metal touched an intraday high of Rs 243704 up 002 per cent or Rs 64 At the last count it was trading at Rs 242899 down Rs 86900 or 036 per centAccording to analysts MCX Gold is trading above Rs 152500 with gradual buying at lower levels The interest is visible but momentum is still not strong enough to confirm a trend A sustained move above Rs 153000 can revive bullish momentum towards Rs 155000 they saidOn the downside a break below Rs 152000 can drag prices towards Rs 150000 and Rs 148000 The bias remains mildly positive though a confirmed breakout is needed to sustain the move higher they addedMCX Silver is holding above Rs 242000 supported by both safehaven demand and industrial strengthHowever the price action is still cautious Resistance is placed at Rs 245000Rs 247000 according to the analysts They further stated that a breakout can push prices towards Rs 250000âRs 252000 On the downside a break below Rs 240000 can trigger selling towards Rs 236000âRs 235000Precious metals have been under pressure in recent sessions as investors shift towards riskier assets such as equities following signs of deescalation in geopolitical tensionsHowever continued uncertainty around the USIran situation could limit the downside in precious metal prices IANS https://dailyworld.in/business/gold-silver-decline-nearly-1-pc-as-profit-booking-offsets-demand-668747.html Fri, 10 Apr 2026 12:03:00 +0530 https://dailyworld.in/business/pm-modi-highlights-world-bank-chief-ajay-bangas-praise-for-india-model-668765.html New Delhi April 10 IANS The Office of the Prime Minister of India on Friday highlighted an IANS report on World Bank President Ajay Banga backing job creation as the core of development strategy and citing Indias cooperative model as an example of scalable growthnbspThe story shared by PMO India on the social media platform X underscores the importance of employmentled growth and the global recognition of Indias development approachBanga emphasised that development efforts must move beyond individual projects and instead focus on broader outcomes such as job creation and economic opportunityDevelopment isnt a charity Its a strategy he said adding that employment generation is central to sustaining growth and stabilitySpeaking ahead of the World Bank and IMF Spring Meetings in Washington Banga also flagged a looming demographic challenge noting that around 12 billion young people are expected to enter the workforce over the next 15 years while job creation may not keep paceHe outlined a threepronged approach to boosting employment including investment in infrastructure businessfriendly governance reforms and improved access to financeHe also identified key sectors such as infrastructure agriculture healthcare manufacturing and tourism as major drivers of job creationDrawing from his own experience Banga pointed to Indias dairy cooperative model as a successful example of how technology and organisation can help improve rural livelihoods and expand market access for small producersI grew up in India he said The WB chief said that cooperative structures like those in the dairy sector helped small producers access better markets and pricingHe also warned that failure to generate adequate employment opportunities could lead to rising migration pressures and social instability globallyImagine the impact if 800 million people are not able to get hope and dignity he said linking job shortages to broader global challengesIANS https://dailyworld.in/business/pm-modi-highlights-world-bank-chief-ajay-bangas-praise-for-india-model-668765.html Fri, 10 Apr 2026 12:54:00 +0530 https://dailyworld.in/business/global-crude-oil-prices-jump-over-1-pc-amid-us-iran-ceasefire-668766.html Mumbai April 10 IANS Global crude oil traded higher on Friday as fresh attacks on Saudi energy infrastructure and persistent concerns over disruptions in the Strait of Hormuz kept investors on edge amid a twoweek ceasefire announced by US President Donald TrumpnbspThe international benchmark Brent crude futures rose as much as 113 per cent to 9701 per barrel while US West Texas Intermediate WTI traded at 9924 in early trade up 139 per centOil prices slipped to nearly 20 per cent below the 100perbarrel mark on Wednesday after averaging that level since February 28On the Multi Commodity Exchange MCX crude oil futures for April 20 delivery were trading at Rs 9222 around 10 am up Rs 289 or 323 per cent intradayThe resurgence in prices comes as doubts emerge over the USIran ceasefire with Israel continuing strikes in Lebanon Iran has also closed the Strait of Hormuz while shippers have said they require greater clarity on the ceasefire terms before resuming transit through the key routeTrump cautioned that failure to adhere to the terms could trigger military action on a much larger scale though he added such an outcome remains unlikely He reiterated that Iran would not be allowed to possess nuclear weapons and that the Strait of Hormuz would remain open and secure with US forces on standbyShipping activity through the Strait of Hormuz remained severely disrupted operating at less than 10 per cent of normal levels on ThursdayLooking ahead the Asian Development Bank ADB said oil prices are likely to remain elevated in the near term but could gradually stabilise if geopolitical tensions easeOn the domestic equities front Indian benchmarks Sensex and Nifty were trading with a gain of 1 per cent in early trade on FridayIANS https://dailyworld.in/business/global-crude-oil-prices-jump-over-1-pc-amid-us-iran-ceasefire-668766.html Fri, 10 Apr 2026 12:58:00 +0530 https://dailyworld.in/business/rbi-absorbing-rs-2-lakh-crore-excess-liquidity-via-reverse-repo-auction-668785.html Mumbai April 10 IANS The Reserve Bank of India announced on Friday that it is carrying out a Variable Rate Reverse Repo VRRR auction worth Rs 2 lakh crore with a 7day tenor to absorb excess durable liquidity from the banking system The date of reversal is April 17nbspThe VRRR is used to absorb excess liquidity when the system has a surplus which helps maintain interest rates within the RBIs prescribed corridorThis move follows the RBIs revised liquidity management framework which prioritises VRRR to manage liquidity over longterm repo operationsThe auction aims to withdraw liquidity often used to counteract surplus funds and maintain stability in the monetary system This action is part of the central banks broader strategy to manage liquidity conditions and maintain the stability of the financial systemLast year the RBI discontinued the 14day Variable Rate Repo VRR and Variable Rate Reverse Repo VRRR operations as the main operation for managing shortterm or transient liquidity under a revised liquidity management framework Instead it is now managed primarily through 7day VRRVRRR and other VRRVRRR operations of tenors from overnight up to 14 days at the discretion of the RBI based on its assessment of the liquidity requirement for the systemMeanwhile the RBI is also implementing the Government of Indias programme of borrowing of Rs 820 lakh crore during the first half H1 of the financial year 202627 which was announced earlierGross market borrowings in the Budget estimate BE 202627 were fixed at Rs 1720 lakh crore Since the presentation of the Budget switches of GSec were conducted reducing gross market borrowing to Rs 1609 lakh crore As much as Rs 820 lakh crore which works out to 51 per cent of the total amount is planned to be borrowed in the first half AprilSept of the financial year 202627 The borrowing will be done through the issuance of dated securities including Rs 15000 crore of Sovereign Green Bonds SGrBsIANS https://dailyworld.in/business/rbi-absorbing-rs-2-lakh-crore-excess-liquidity-via-reverse-repo-auction-668785.html Fri, 10 Apr 2026 13:34:00 +0530 https://dailyworld.in/business/gold-etf-inflows-decline-in-march-as-middle-east-tensions-weigh-in-668794.html Mumbai April 10 IANS Gold exchangetraded funds ETFs in India witnessed a sharp slowdown in inflows in March as net inflows into gold ETFs more than halved to Rs 2266 crore during the month according to data released by the Association of Mutual Funds in India AMFI on FridaynbspThis marks a significant decline from February when investors had poured a net Rs 5255 crore into these fundsThe drop came due to geopolitical uncertainties particularly surrounding tensions involving the United States and Iran weighed on investor sentimentGold ETFs which track the price of physical gold are considered a convenient and taxefficient investment option as they eliminate the need for storage and security concerns associated with holding the metal physicallyAt present there are 25 such schemes available to investors in India The dip in inflows came at a time when gold prices corrected sharplyIn the domestic market gold prices fell around 11 per cent in March mirroring the decline in the benchmark Nifty index during the same periodThe fall in prices appears to have dampened investor appetite even as gold traditionally serves as a safehaven asset during periods of uncertaintyDespite the slowdown in inflows the total assets under management AUM of gold ETFs remained robustAs of March 31 the AUM stood at Rs 171 lakh crore This figure also reflects the impact of earlier gains in bullion prices which had supported overall asset growthGlobally however the trend was even more pronounced Data from the World Gold Council showed that gold ETFs recorded outflows of 12 billion in March marking the largest monthly withdrawal on recordThe sharp outflows disrupted expectations of what was anticipated to be the strongest quarter for global gold ETF inflowsEven so on a broader horizon gold ETFs globally have managed to log a seventh consecutive quarter of net inflows as per the reportIANS https://dailyworld.in/business/gold-etf-inflows-decline-in-march-as-middle-east-tensions-weigh-in-668794.html Fri, 10 Apr 2026 13:53:00 +0530 https://dailyworld.in/business/sebi-unmasks-ponzi-like-scheme-using-broker-licence-fund-mobilisation-crosses-rs-2-950-crore-668805.html Mumbai April 10 The Securities and Exchange Board of India SEBI has uncovered a case in which a stock broking licence was allegedly used as a front to run a Ponzilike scheme luring investors with promises of assured monthly returns of 10â12 per cent In an order issued against Trdez Investment Private Limited the regulator said investors were misled into believing that several entities including Infinite Beacon IB Prop Desk and Sispay TFS were linked to the SEBIregistered brokerAgents allegedly leveraged this association to establish credibility and convince investors to transfer funds into bank accounts operated by these entitiesAccording to SEBI investors were provided with dashboards reflecting fictitious profits while initial withdrawals were permitted to build trustHowever withdrawals were later restricted raising red flags about the authenticity of the operationsThe regulatorâs investigation pointed to deeprooted linkages between the broker and the associated entitiesIt found that several directors of the brokerage were also partners or linked to firms such as Trdez Financial Services and Infinite BeaconFinancial transactions between the personal accounts of directors and these entities were observed alongside shared addresses contact details and domain linkages suggesting a coordinated structureâThe analysis of bank transactions also revealed extensive financial linkages between these entities and the personal accounts of the directors of the Noticeeâ the SEBI order notedThe order also flagged cryptocurrencyrelated transactions including USDT based on statements recorded during the investigation and complaints from investorsOne of the directors reportedly admitted involvement in such transactions while some complaints alleged that investor funds were routed into crypto instrumentsSEBI further highlighted that the broker itself was virtually inactive in its core business It had executed trades worth only Rs 43430 in its proprietary account and had not undertaken any client trades since inceptionThe shareholding pattern revealed multiple changes over time with individuals including Chetan Dhar Gaurav Sukhdeve and Yayati Mishra holding 10 per cent stakes each while Rahul Kalokhe and Prasad Kulkarni held 20 per cent each Agast Mishra and Dhar later exited the firm in 2025SEBI estimated that the total mobilisation of funds linked to the entities exceeded Rs 2950 croreWhile the exact gains made by the broker could not be quantified from available records the regulator concluded that its conduct enabled a structure that facilitated largescale mobilisation of funds under misleading representations IANS https://dailyworld.in/business/sebi-unmasks-ponzi-like-scheme-using-broker-licence-fund-mobilisation-crosses-rs-2-950-crore-668805.html Fri, 10 Apr 2026 15:11:00 +0530 https://dailyworld.in/business/pm-modi-highlights-indias-highest-ever-solar-energy-capacity-addition-668807.html New Delhi April 10 Prime Minister Narendra Modi on Friday highlighted Indias achievement in recording its highestever annual solar capacity addition The Prime Minister in a post on X remarked on the significant milestone reached in the renewable energy sector as noted by Union Minister for New and Renewable Energy Pralhad Joshi in an articleJoshi said that India has achieved its highestever annual solar capacity addition of around 45 GW in 202526 nearly doubling the previous years pace and reinforcing its position as one of the worlds fastestgrowing clean energy marketsThe minister said the achievement reflects the countryâs strong commitment to energy security sustainable development and the vision of Viksit Bharat The momentum was led by largescale deployments in Rajasthan Gujarat and Maharashtra which together powered the countrys accelerated transition towards a cleaner electricity systemA key operational highlight was 665 GW of solar installations in March 2026 alone the highestever capacity addition in a single month demonstrating stronger execution capabilities across utilityscale and distributed solar segmentsThe milestone also signals improving ecosystem readiness across domestic manufacturing grid integration and policy support With India having already crossed 150 GW of installed solar capacity this record annual addition strengthens the countrys long term renewable pipeline and supports industrial decarbonization goalsThe continued rise in stateled deployments is expected to boost investments in transmission corridors battery storage green hydrogen and solar equipment manufacturing creating export opportunities for modules inverters and balanceofsystem componentsThe Solar Energy Corporation of India Limited SECI also handed over a dividend cheque of Rs 115 crore 12408 million to the Ministry of New and Renewable Energy reflecting healthy sectoral financial performance and publicsector confidence in renewable infrastructure expansionJoshi said India ranks third globally in Renewable Energy Installed Capacity according to the Renewable Energy Statistics 2026 after moving ahead of Brazil in the ranking The International Renewable Energy Agency IREA released the statistics as of December 2025The minister also highlighted that in July 2025 India reached its highestever renewable energy share in electricity generation The renewables met 515 per cent of the countryâs total electricity demand of 203 GW He also said that a total of 28346 GW of capacity from nonfossil fuel sources has been installed in the country as on March 31 2026 IANS https://dailyworld.in/business/pm-modi-highlights-indias-highest-ever-solar-energy-capacity-addition-668807.html Fri, 10 Apr 2026 15:44:00 +0530 https://dailyworld.in/business/govt-relaxes-inspection-norms-for-rice-exports-to-europe-668819.html New Delhi April 10 The government has allowed exports of basmati and nonbasmati rice to certain European countries without the mandatory certificate of inspection for a period of six months according to an official notification issued on Friday The requirement for an inspection certificate issued by the export inspection agency will continue to apply only to European Union member states the United Kingdom Iceland Liechtenstein Norway and Switzerland All other European countries have been exempted from this requirement for the sixmonth period the notification saidThe move is aimed at facilitating exports amid rising global demand for Indian riceEarlier the government had said rice exports reached 1295 billion in 202425 while exports of pulses and millets stood at 855 million and 5920 million respectivelyThe figures highlight growing international demand for diversified and climateresilient cereal crops reinforcing Indiaâs role in global food and nutrition securityCommerce and Industry Minister Piyush Goyal had earlier noted that rice exports have grown by 62 per cent between 2014 and 2025Rice production in India is largely concentrated in states such as Uttar Pradesh Telangana and West Bengal Meanwhile Uttar Pradesh Madhya Pradesh and Punjab are among the leading wheatproducing regions in the countryEarlier in February the Food Corporation of India FCI and the World Food Programme WFP had signed a Memorandum of Understanding MoU for the supply of rice in support of global humanitarian operations aimed at combating hunger In this pact FCI will supply 200000 metric tonnes of rice up to 25 per cent broken to WFPThe agreement will be valid for a period of five years from the date of signing and may be extended by mutual consent The price will be mutually agreed on an annual basis with the current price fixed at Rs 2800 per quintal up to 31 March 2026 IANS https://dailyworld.in/business/govt-relaxes-inspection-norms-for-rice-exports-to-europe-668819.html Fri, 10 Apr 2026 16:27:00 +0530 https://dailyworld.in/business/india-qatar-review-strategic-ties-across-trade-energy-agree-to-deepen-bilateral-cooperation-668820.html New DelhiDoha April 10 IANS India and Qatar have reaffirmed their commitment to deepening strategic ties across key sectors including trade energy and cultural exchanges as Petroleum and Natural Gas Minister Hardeep Singh Puri held highlevel talks in Doha during his twoday official visit the Ministry of Petroleum and Natural Gas said on FridaynbspPuri who arrived in Doha on April 9 met Qatars Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad Sherida AlKaabi where both sides reviewed the full spectrum of bilateral relationsThe discussions covered highlevel engagements trade and investment opportunities energy cooperation as well as cultural and peopletopeople ties reflecting the growing depth of the IndiaQatar partnershipnbspBoth Ministers discussed all aspects of the strategic relations between the two countries including high level engagements trade investment energy culture and peopletopeople relations the ministry saidnbspThey hoped for early return of peace and stability in the region and further strengthening of the bilateral relationship between India and Qatar it addedDuring the meeting Puri conveyed greetings and a message of solidarity on behalf of Prime Minister Narendra Modi to Qatars Amir Sheikh Tamim bin Hamad Al Thani and Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al ThaninbspHe also recalled the recent telephonic conversations between PM Modi and the Amir in March 2026 following the onset of regional tensions during which both leaders underscored the need for peace and stability through dialogue and diplomacyPM Modi had also expressed gratitude for Qatars continued support to the Indian community residing therenbspThe two ministers expressed hope for an early restoration of peace in the region and agreed to further strengthen bilateral cooperationnbspAlKaabi reiterated Qatars commitment to being a reliable energy partner for India and emphasised continued collaboration in the energy sectorThe leaders also welcomed the twoweek ceasefire announced on April 8 stressing the importance of ensuring uninterrupted global energy suppliesnbspThey highlighted the need for freedom of navigation and the smooth flow of global commerce to maintain stable supply chainsnbspPuri thanked his Qatari counterpart for hosting him and both sides agreed to remain in close contact in the coming weeks as they work towards advancing mutual interestsIANS https://dailyworld.in/business/india-qatar-review-strategic-ties-across-trade-energy-agree-to-deepen-bilateral-cooperation-668820.html Fri, 10 Apr 2026 16:28:00 +0530 https://dailyworld.in/business/nifty-sensex-extend-gains-as-it-leads-rally-668826.html Mumbai April 10 Indian equity benchmarks resumed their upward momentum on Friday after a brief oneday pause as investors closely monitored developments in West Asia and assessed their potential impact on global markets Both the Nifty and the Sensex ended higher extending their recent gaining streak At the closing bell Sensex up 9186 points or 120 per cent to finish the intraday trading session at 7755025Nifty also followed suit and closed at 240506 up 2755 points or 116 per centGains in the frontline indices were supported by select heavyweights with stocks such as Asian Paints Eicher Motors Bajaj Auto and Shriram Finance emerging as the top performers on the NiftyThe broader markets outpaced the benchmark indices reflecting strong investor participation beyond largecap stocksThe Nifty MidCap index closed 148 per cent higher while the Nifty SmallCap index rose 167 per centOn the sectoral front performance remained mixed The Nifty IT index stood out as the top gainer benefiting from buying interest in technology stocksIn contrast the Nifty Auto Nifty Bank and Nifty Financial Services indices lagged behind the broader market underperforming their peers during the sessionAnalysts said that the market sentiment remained cautiously optimistic with traders balancing geopolitical concerns with continued domestic buying supportMeanwhile at the opening bell both the Indian equity benchmarks was traded sharply higher mirroring gains in global markets despite fresh geopolitical tensions and concerns over the closure of the Strait of HormuzEarlier in the day the 30share index Sensex climbed to touch an intraday high at 7762250 while Nifty surged to touch an intraday high of 2407405However at the early trade the 30share Sensex opened at 77121 up 064 per cent or 489 points while the 50share index began the session at 23880 gaining 044 per cent or 100 points IANS https://dailyworld.in/business/nifty-sensex-extend-gains-as-it-leads-rally-668826.html Fri, 10 Apr 2026 17:12:00 +0530 https://dailyworld.in/business/nifty-sensex-extend-gains-by-over-1-pc-668828.html Mumbai April 10 Indian equity benchmarks resumed their upward momentum on Friday after a brief oneday pause as investors closely monitored developments in West Asia and assessed their potential impact on global markets Both the Nifty and the Sensex ended higher extending their recent gaining streak At the closing bell Sensex up 9186 points or 120 per cent to finish the intraday trading session at 7755025Nifty also followed suit and closed at 240506 up 2755 points or 116 per centGains in the frontline indices were supported by select heavyweights with stocks such as Asian Paints Eicher Motors Bajaj Auto and Shriram Finance emerging as the top performers on the NiftyThe broader markets outpaced the benchmark indices reflecting strong investor participation beyond largecap stocksThe Nifty MidCap index closed 148 per cent higher while the Nifty SmallCap index rose 167 per centOn the sectoral front performance remained mixed The Nifty IT index stood out as the top gainer benefiting from buying interest in technology stocksIn contrast the Nifty Auto Nifty Bank and Nifty Financial Services indices lagged behind the broader market underperforming their peers during the sessionAnalysts said that the market sentiment remained cautiously optimistic with traders balancing geopolitical concerns with continued domestic buying supportMeanwhile at the opening bell both the Indian equity benchmarks was traded sharply higher mirroring gains in global markets despite fresh geopolitical tensions and concerns over the closure of the Strait of HormuzEarlier in the day the 30share index Sensex climbed to touch an intraday high at 7762250 while Nifty surged to touch an intraday high of 2407405However at the early trade the 30share Sensex opened at 77121 up 064 per cent or 489 points while the 50share index began the session at 23880 gaining 044 per cent or 100 points IANS https://dailyworld.in/business/nifty-sensex-extend-gains-by-over-1-pc-668828.html Fri, 10 Apr 2026 17:13:00 +0530 https://dailyworld.in/business/mercedes-benz-india-clocks-record-sales-at-19-363-units-668675.html New Delhi April 9 German luxury carmaker MercedesBenz India on Thursday reported its highestever annual sales retailing 19363 units in FY2526 up 229 per cent from 18928 units in the previous fiscal driven by strong demand for its topend and core luxury segments The company also recorded a 745 per cent growth in the JanuaryMarch 2026 quarter selling 5131 units compared to 4775 units in the same period last yearThe German luxury carmaker said its performance was supported by a strong product portfolio network upgrades and a differentiated customer experienceThe topend luxury segment remained a key growth driver a 16 per cent increase in FY2025â26 and a 25 per cent rise in the March quarter The segment includes models such as the SClass MercedesMaybach range EQS SUV and AMG portfolioNotably the segment accounted for 27 per cent of MercedesBenz Indiaâs total sales during the fiscal Waiting periods for these models currently range from four months to up to a year for select models such as the AMG G 63The companys core segment comprising the CClass EClass LWB sedans and GLC and GLE SUVs also contributed significantly to overall volumesThe longwheelbase EClass continued to be the highestselling luxury car in India maintaining strong demand across marketsHowever the Entry Luxury segment saw an 18 per cent decline during the fiscal amid increasing competition from lowerpriced offerings backed by market incentivesThe company said it remains focused on offering featurerich products aligned with longterm brand positioning rather than volumedriven strategiesElectric vehicles continued to gain traction with battery electric vehicles accounting for 20 per cent of the companyâs topend luxury sales in FY2025â26 Sales of topend electric vehicles priced above Rs 14 crore surged 85 per cent during the year driven by demand for models such as the EQS SUV and EQS Maybach SUVMercedesBenz India is also set to launch the CLA electric vehicle on April 24 marking the introduction of its nextgeneration softwaredefined vehicles in the countryOn the network front the company plans to expand its retail presence with over 20 new luxury outlets in 2026 under its âGo to Customerâ strategy It will enter new markets such as Visakhapatnam and Varanasi while strengthening its presence in existing markets including Bengaluru Mumbai DelhiNCR Pune and GoaThe expansion will be supported by an investment of over Rs 450 crore by franchise partners over the next two years with a continued focus on enhancing customer experience through upgraded facilities and adoption of advanced technologies IANS https://dailyworld.in/business/mercedes-benz-india-clocks-record-sales-at-19-363-units-668675.html Thu, 09 Apr 2026 16:37:00 +0530 https://dailyworld.in/business/sensex-nifty-fall-as-oil-rally-breaks-5-day-winning-streak-668680.html Mumbai April 9 Indian equity benchmarks declined on Thursday snapping their fiveday gaining streak as rising oil prices and uncertainty around the USIran ceasefire weighed on investor sentiment The Nifty closed 093 per cent lower falling 22225 points to settle at 2377510 The Sensex also slipped sharply ending 120 per cent or 93125 points down at 7663165Commenting on Nifty technical outlook experts said that the intraday charts showed price action remained rangebound with a slight negative bias marked by the formation of lower highs indicating sustained selling pressure throughout the sessionâA decisive and sustained move above 24000 is required to improve sentiment and confirm strength while failure to hold above 23600 could expose the index to further downside pressureâ an analyst statedSelling pressure was seen in key frontline stocks with Jio Financial Services InterGlobe Aviation and Larsen amp Toubro emerging among the top losers in the Nifty packDespite the weakness in benchmark indices broader markets showed resilience The Nifty MidCap and Nifty SmallCap indices managed to end in positive territory gaining 025 per cent and 020 per cent respectivelyOn the sectoral front banking stocks dragged the market lower with the Nifty Private Bank and Nifty Bank indices underperforming their peersIn contrast metal stocks provided some support with the Nifty Metal index emerging as the top sectoral gainerInvestor sentiment remained cautious amid rising geopolitical tensions Iranâs Parliament Speaker Mohammad Bagher Ghalibaf expressed deep distrust toward the United States citing repeated violations of agreementsHe pointed to Israelâs continued attacks on Lebanon and reported drone activity in Iranian airspace as reasons for the strained situation according to a statement shared on social mediaExperts stated that the renewed concerns over the stability of the ceasefire and the uptick in oil prices added to market volatility leading to profit booking after the recent rallyMeanwhile the Indian rupeeâs fiveday rally came to a grinding halt retreating in tandem with its Asian peers âSpot USDINR is expected to trade within a range of 9250 to 9340 as traders balance global energy risks and domestic capital outflowsâ a market expert stated IANS https://dailyworld.in/business/sensex-nifty-fall-as-oil-rally-breaks-5-day-winning-streak-668680.html Thu, 09 Apr 2026 17:24:00 +0530 https://dailyworld.in/business/india-ranks-4th-globally-in-tech-funding-early-stage-investments-jump-20-pc-report-668681.html New Delhi April 9 Tech funding in India stood at 117 billion in FY 202526 an increase of 20 per cent compared to 97 billion raised in FY202324 amid strong earlystage momentum and a surge in IPO activity according to a new report As per Tracxn analysis India ranked as the fourthhighest funded country globally during FY 202526 behind the United States the United Kingdom and China while staying ahead of Germany and FranceIt further stated that funding trends showed strong traction across key stagesEarlystage funding rose sharply to 48 billion a 33 per cent increase from 36 billion in FY 202425 and a 37 per cent rise from 35 billion in FY 202324 while seedstage startups raised 13 billionOn the other hand latestage startups raised 56 billion in FY 202526 significantly higher than 47 billion raised in FY 202324While overall funding saw moderation the strong momentum in earlystage investments highlights continued investor confidence said Neha Singh Cofounder of TracxnThe report also noted that India saw 13 funding rounds exceeding 100 million in FY 202526Sectorwise enterprise applications led funding with 36 billion a 23 per cent increase compared to FY 202324Meanwhile fintech secured 24 billion rising 27 per cent compared to FY 202324 while retail funding stood at 24 billionOn the exits front Indiaâs tech ecosystem recorded 129 acquisitions during FY 202526In addition IPO activity surged during the year with 47 public listings recorded a 52 per cent increase from FY 202425 and a 47 per cent rise compared to FY 202324The report also highlighted that six unicorns were created during FY 202526 a 50 per cent increase compared to previous yearsGeographically Bengaluru retained its position as the top startup hub accounting for 33 per cent of total funding followed by Mumbai with a 21 per cent share IANS https://dailyworld.in/business/india-ranks-4th-globally-in-tech-funding-early-stage-investments-jump-20-pc-report-668681.html Thu, 09 Apr 2026 17:24:00 +0530 https://dailyworld.in/business/tcs-clocks-12-pc-jump-in-q4-net-profit-announces-rs-31-dividend-668686.html Mumbai April 9 Tata Consultancy Services TCS on Thursday reported a 12 per cent yearonyear YoY jump in consolidated net profit for the JanuaryâMarch quarter Q4 FY26 The major IT player had posted a profit of Rs 13718 crore compared to Rs 12224 crore in the yearago period Q4 FY25 according to its exchange filingThe IT majorâs consolidated revenue from operations also saw healthy growth increasing 96 per cent yearonyear to Rs 70698 crore compared to Rs 64479 crore in Q4 FY25On a sequential basis TCS reported an even sharper improvement with profit jumping 287 per cent quarteronquarter QoQ while revenue rose 54 per centCommenting on the results Chief Executive Officer and Managing Director K Krithivasan said the company has now delivered its third consecutive quarter of sequential growthKrithivasan added that growth momentum remained broadbased across key markets and most industry verticalsDespite ongoing macroeconomic headwinds he noted that clients continue to show strong confidence in technology investments positioning the company well for future opportunitiesâWhile the macroeconomic headwinds continue we see sustained customer conviction in technology investments which positions us well for the opportunities aheadâ Krithivasan mentionedTCS also announced a final dividend of Rs 31 per share for FY26 subject to shareholder approval at the upcoming Annual General MeetingThe company said its total shareholder payout for the financial year stood at Rs 39571 crore in the form of dividendsTotal expenses of the IT firm for the fourth quarter stood at Rs 53093 crore compared to 49105 crore in yearago period However on sequential basis the expenses of the firm were Rs 50736 croreAarthi Subramanian Executive Director President and Chief Operating Officer said FY26 marked a pivotal year for enterprise AI adoptionâIn Q4 our annualised AI revenues surpassed 23 billion driven by the accelerated deployment of AI solutionsâ Subramanian said IANS https://dailyworld.in/business/tcs-clocks-12-pc-jump-in-q4-net-profit-announces-rs-31-dividend-668686.html Thu, 09 Apr 2026 18:19:00 +0530 https://dailyworld.in/business/real-estate-firm-signature-global-clocks-20-pc-fall-in-fy26-sales-668694.html Mumbai April 9 Signature Global has reported a slowdown in companyâs performance as the sales bookings fell 20 per cent to Rs 8220 crore in FY26 This was down from a record Rs 10290 crore in the previous financial year according to its regulatory filingIn its key operational updates the DelhiNCRbased realty firm said its presales declined 5 per cent yearonyear YoY to Rs 1540 crore in Q4 FY26 compared to Rs 1620 crore in the same period last yearThe dip was accompanied by a sharp fall in volumes with the company selling 368 units during the quarter down from 591 units a year agoThe total sales area also dropped to 099 million square feet from 136 million square feet in Q4 FY25The annual sales volume also halved with 2114 units sold in FY26 compared to 4130 units in FY25 according to its filingHowever the company managed to offset some of the pressure through improved pricingIts average sales realisation rose to Rs 15250 per square foot up from Rs 12457 per square foot in FY25 driven by a strategy of premiumisation across key projectsChairman and Managing Director Pradeep Kumar Aggarwal said FY26 reflected the companyâs focus on disciplined growth and strengthening its financial positionHe highlighted a significant reduction in net debt and steady operational performance supported by better realisations and strong collectionsâGoing ahead we remain focused on execution excellence prudent capital allocation and delivering longterm value for all stakeholders while expanding our presence across highgrowth micromarketsâ he notedDespite the slowdown in sales the company maintained a positive outlook backed by a robust balance sheetIt reported cash and cash equivalents of Rs 2770 crore as of March 31 2026 providing financial flexibility for future growth plansThe company also sharply reduced its debt by 77 per cent to Rs 200 crore at the end of FY26 compared to Rs 880 crore a year earlierThis was aided in part by receiving Rs 1293 crore from Millennia Realtors a group company of RMZ Group as consideration for a joint venture IANS https://dailyworld.in/business/real-estate-firm-signature-global-clocks-20-pc-fall-in-fy26-sales-668694.html Thu, 09 Apr 2026 18:25:00 +0530 https://dailyworld.in/business/another-ship-with-15-400-tonnes-of-lpg-arrives-from-gulf-668697.html New Delhi April 9 IANS Indiaflagged merchant ship Green Asha which crossed the Strait of Hormuz on April 5 has safely reached Jawaharlal Nehru Port Authority JNPA in Navi Mumbai on Wednesday with its cargo of 15400 tonnes of liquefied petroleum gas LPG according to an official statementnbspThe arrival of the tanker has come at a crucial time to augment cooking gas supplies in the country amid the West Asia crisis The has moored at JNPAs liquid berth operated by Bharat Petroleum and Indian OilAnother Indiaflagged LPG vessel Green Sanvi had crossed the Strait on April 6 and is expected to reach India soonMeanwhile with the improved situation more LNG cargoes are also expected to arrive which has enabled the government to increase the overall gas allocation to fertiliser plants by 5 per cent to reach approximately 95 per cent of their sixmonth average consumptionThe Ministry of Ports Shipping and Waterways in coordination with the Ministry of External Affairs and Indian Missions continues to actively monitor the evolving situation in the Persian Gulf regionAll Indian seafarers in the region are safe and no incident involving Indianflagged vessels has been reported in the past 24 hours according to a statement issued by the Ministry of Ports and ShippingThe Directorate General of Shipping continues to closely monitor developments in the tense region in coordination with ship owners Recruitment and Placement Service License RPSL agencies and Indian Missions the statement saidThe DG Shipping Control Room has handled 5647 calls and 12043 emails since activation including 166 calls and 317 emails in the past 24 hoursDG Shipping has facilitated the safe repatriation of over 1803 Indian seafarers so far including 49 in the past 24 hours from various locations across the Gulf regionPort operations across India continue normally with no congestion reported State Maritime Boards of Gujarat Maharashtra Goa Kerala Andhra Pradesh and Puducherry have confirmed smooth functioningThe Ministry continues to coordinate closely with the Ministry of External Affairs Indian Missions and maritime stakeholders to ensure the welfare of Indian seafarers and uninterrupted maritime operations the statement addedIANS https://dailyworld.in/business/another-ship-with-15-400-tonnes-of-lpg-arrives-from-gulf-668697.html Thu, 09 Apr 2026 18:51:00 +0530 https://dailyworld.in/business/private-sectors-role-crucial-for-long-term-innovation-dr-jitendra-singh-668698.html New Delhi April 9 Minister of State for Science and Technology Dr Jitendra Singh on Thursday called upon the private sector to step up participation in research and development RampD stressing that stronger industry engagement is key to building a robust innovation ecosystem in India The minister said the government has taken several enabling measures including opening up sectors such as space and nuclear energy to private players and introducing mechanisms like the Research Development and Innovation RDI fund but noted that industry must now respond with greater investment and collaborationSpeaking at the release of two reports by NITI Aayog on easing RampD processes Dr Singh said that reforms should focus not just on system design but on the actual experience of researchersHighlighting Indiaâs growing scientific capabilities he said the country has abundant talent that is increasingly recognised globally but institutional and procedural bottlenecks continue to affect outcomesAt the same time the minister flagged limited private sector participation in research funding and execution saying government support alone cannot sustain longterm innovationHe cited initiatives such as âOne Nation One Subscriptionâ for research journals as steps to improve access to knowledge and stressed that streamlining routine processes like approvals funding flows and administrative clearances can significantly enhance research productivitySuman Bery Vice Chairman NITI Aayog said the initiative to ease RampD processes is based on longstanding demands from the scientific community to reduce administrative burden and improve efficiencyThe Principal Scientific Adviser Professor AK Sood said improving ease of doing RampD must remain an ongoing effort pointing to issues such as low funding success rates constraints in hiring and infrastructure and the need for better coordination in implementationThe reports by NITI Aayog based on consultations with researchers underline the need for greater flexibility transparency and predictability in research systems to ensure continuity and confidence in scientific work IANS https://dailyworld.in/business/private-sectors-role-crucial-for-long-term-innovation-dr-jitendra-singh-668698.html Thu, 09 Apr 2026 19:21:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-lower-amid-fresh-geopolitical-tensions-668579.html Mumbai April 9 The Indian equity markets opened on a cautious note on Thursday after witnessing a sharp rally in the previous session Benchmark indices declined amid investor concerns over escalating geopolitical tensions as reports suggested that Israel had attacked Lebanonâs Hezbollah raising fears of a possible disruption in the Strait of Hormuz Sensex traded 560 points or 072 per cent lower at 77003 hitting an intraday low in early trade while Nifty fell as much as 182 points or 075 per cent to 23815 also logging an intraday low Sectorally IT realty banking and auto stocks were among the top laggards declining up to 1 per centAmong the Nifty pack Infosys Shriram Finance HCL Tech Bajaj Finance IndiGo Tech Mahindra Axis Bank and MampM were the top losersAccording to analysts traders should adopt a cautious approach prefer a âbuy on dipsâ strategy near support levels and avoid aggressive long positions at higher levelsâThis ongoing divergence between foreign and domestic flows continues to play a key role in market stabilityâ they addedAnalysts further noted that India VIX cooled sharply to around 1969 indicating a decline in volatility although markets may still witness intraday swingsInstitutional flows continue to reflect divergence On Wednesday FIIs remained net sellers to the tune of approximately Rs 2812 crore while DIIs continued their strong buying with inflows of around Rs 4168 croreMeanwhile Brent crude futures surged as much as 331 per cent to 9789 per barrel at 906 am US West Texas Intermediate WTI crude traded at 9838 up 42 per cent from the previous closeAsian stocks also traded lower with the Nikkei Hang Seng and KOSPI down 077 per cent 017 per cent and over 1 per cent respectivelyIn the US Wall Street ended higher with major indices finishing more than 2 per cent up IANS https://dailyworld.in/business/sensex-nifty-trade-lower-amid-fresh-geopolitical-tensions-668579.html Thu, 09 Apr 2026 12:05:00 +0530 https://dailyworld.in/business/disney-plans-up-to-1-000-job-cuts-most-layoffs-likely-in-marketing-division-report-668590.html New Delhi April 9 Entertainment conglomerate Walt Disney is planning to cut up to 1000 jobs in the coming weeks with a significant number of layoffs likely in its marketing division according to a report The Wall Street Journal said citing sources that the plans for the job cuts were initiated before Josh DâAmaro took over as the companyâs chief executive officer in MarchThe layoffs are expected to impact less than 1 per cent of Disneyâs total workforce The company had around 231000 employees as of the end of fiscal year 2025Disneyâs newlyappointed chief marketing officer Asad Ayaz is also planning to consolidate the companyâs marketing operations and reduce costs under a programme codenamed âProject Imagineâ the report added Ayaz began overseeing a newly created companywide marketing organisation in JanuaryIn a separate development Cloud giant Oracle has laid off a large number of employees globally with several workers receiving earlymorning emails informing them of their terminationEmployees across regions said on social media that they received emails from the company stating that their employment had been terminated with some messages arriving around 6 am local time in the USReports indicate that Oracle may be laying off between 20000 and 30000 employees or roughly 18 per cent of its global workforceMeanwhile another report said that global banking major HSBC is also considering job cuts over the coming years as Chief Executive Officer Georges Elhedery looks to deploy artificial intelligence AI to streamline operations particularly in middle and backoffice functionsAccording to the report nonclientfacing roles in global service centres are likely to be the most affected although discussions are still at an early stage HSBC had a workforce of around 210000 employees at the end of 2025 IANS https://dailyworld.in/business/disney-plans-up-to-1-000-job-cuts-most-layoffs-likely-in-marketing-division-report-668590.html Thu, 09 Apr 2026 12:13:00 +0530 https://dailyworld.in/business/crude-oil-prices-jump-up-to-4-pc-on-hormuz-tensions-ceasefire-doubts-668593.html New Delhi April 9 IANS Global crude oil prices surged sharply on Thursday amid fears that supply from West Asia may not fully resume as doubts persist over whether the twoweek ceasefire between the US and Iran will hold with the crucial Strait of Hormuz reportedly remaining restrictednbspBrent crude futures jumped as much as 331 per cent to 9789 per barrel at 906 am The US West Texas Intermediate WTI crude traded at 9838 up 42 per cent from the previous closeCrude oil benchmarks had slipped up to 20 per cent below the 100perbarrel mark on Wednesday a level they had been averaging since February 28 In that session US WTI recorded its biggest fall since April 2020 on expectations that the ceasefire involving the US and Iran would ease tensions and lead to the reopening of the Strait of HormuzThe waterway a key route for oil supplies from Gulf producers including Iraq Saudi Arabia Kuwait and Qatar to global markets remains at the centre of the conflictReports of Israeli strikes on Lebanons Hezbollah have further escalated tensions while Kuwait Bahrain and the UAE have also reported missile and drone strikesAccording to rpeorts Iran has once again closed the Strait of Hormuz following the latest developmentsShippers said they require greater clarity on the terms of the ceasefire before resuming transit through the waterwayIran has issued maps to guide ships around mines in the Strait and designated safe passage routes in coordination with the countrys Revolutionary Guards Iranian media reportedRegional oil infrastructure also remains under threat with Iran reportedly striking sites in neighbouring countries after the ceasefire including a pipeline in Saudi Arabia that has been used to bypass the blockaded Strait of HormuzMoreover US President Donald Trump has said that all American ships aircraft and military personnel will remain in and around IranOn the equities front domestic benchmark indices Sensex and Nifty traded about 07 per cent lower each Similarly Asian stocks were also in the red with key indices Nikkei KOSPI and Hang Seng declining up to 1 per centIANS https://dailyworld.in/business/crude-oil-prices-jump-up-to-4-pc-on-hormuz-tensions-ceasefire-doubts-668593.html Thu, 09 Apr 2026 12:17:00 +0530 https://dailyworld.in/business/dg-shipping-asks-ports-to-provide-concessions-to-exporters-advises-seafarers-to-remain-safe-668603.html New Delhi April 9 IANS Amid the ongoing West Asia crisis Directorate General of Shipping DG Shipping has directed ports to ensure concessions for exporters with stranded cargo in the waraffected Persian Gulf regionnbspAccording to a circular it has been observed that concessions granted by port authorities particularly relating to detention charges ground rent reefer plugin connected load and similar terminal charges are not being uniformly passed on to the exportersThe DG Shipping circular said that all concessions approved by Port Authorities will be directly and transparently passed on to the concerned stakeholders including freight forwarders and NVOCCs who in turn shall reflect the same to the exportersPort authorities have also been made responsible to monitor compliance at the terminal level to ensure the benefit of such concessions reaches the intended beneficiaries without delayThe regulator advised ports and terminal operators to ensure strict compliance in order to maintain transparency in cost structures protect exporter interests and ensure operational continuity during the ongoing crisisThe move is to ensure that exporters can avail claims under the Rs 497 crore Resilience and Logistics Intervention for Export Facilitation RELIEF schemeShipping lines are specifically instructed to maintain full transparency and auditability in such cases DG Shipping said adding the war risk premium being levied on cargo has also undergone changes which may not be fully aligned with the earlier directivesThe matter is being taken up with insurance providers it addedMeanwhile DG Shipping has also issued a safety advisory for Indian seafarers in and around the Iranian watersnbspIn view of the prevailing security situation seafarers ashore are advised to remain indoors avoid sensitive locations and coordinate movements with the Embassy of IndianbspThose onboard vessels are instructed to stay onboard and limit unnecessary shore travel All personnel are urged to remain vigilant follow official updates and stay in continuous contact with company representatives and authorities according to the advisoryIANS https://dailyworld.in/business/dg-shipping-asks-ports-to-provide-concessions-to-exporters-advises-seafarers-to-remain-safe-668603.html Thu, 09 Apr 2026 12:23:00 +0530 https://dailyworld.in/business/gold-silver-trade-up-to-2-pc-lower-despite-geopolitical-tensions-668609.html Mumbai April 9 Gold and silver prices declined on Thursday despite fresh geopolitical tensions following reports of Israel attacking Lebanonâs Hezbollah On the Multi Commodity Exchange MCX gold futures June 5 fell as much as 074 per cent or Rs 1129 to Rs 150647 hitting an intraday low at around 1040 AM The yellow metal was later trading at Rs 151113 down Rs 663 or 044 per cent It touched an intraday high of Rs 151452Meanwhile silver futures May 5 also witnessed sharp losses plunging 2 per cent or Rs 4785 to an intraday low of Rs 235133 The white metal touched an intraday high of Rs 237589 and was trading at Rs 236417 down Rs 3501 or 146 per centMarket sentiment remained subdued amid uncertainty over the direction of USIran ceasefire talksAnalysts said MCX gold opened with a mild gapdown and is trading in the Rs 150500âRs 151500 range with buying interest emerging at lower levelsâA sustained move above Rs 152000 could revive momentum towards Rs 153000âRs 155000 However a decisive break below Rs 150000 may drag prices down to Rs 148000âRs 147000 levelsâ they saidFor silver analysts noted that MCX prices opened with a mild gapdown but found support from safehaven demand and strength in industrial metals Prices are hovering around Rs 236000 amid elevated volatility though the overall tone remains cautiousâResistance is placed at Rs 240000âRs 243000 A breakout could push prices towards Rs 245000âRs 247000 On the downside a break below Rs 236000 may accelerate selling towards the Rs 233000âRs 230000 rangeâ they addedAccording to analysts the bias remains mildly positive supported by macro factors although momentum appears tentative and requires confirmation for a sustained uptrendIn the international market COMEX gold traded in negative territory falling over 1 per cent to 471860 while spot gold was nearly flat at 4718 up 004 per centSimilarly COMEX silver declined 326 per cent to 7292 while spot silver was at 7377 down 046 per centAmong energy commodities Brent crude futures were up 331 per cent at 9789 per barrel while US West Texas Intermediate WTI crude traded at 9838 up around 4 per cent from the previous close IANS https://dailyworld.in/business/gold-silver-trade-up-to-2-pc-lower-despite-geopolitical-tensions-668609.html Thu, 09 Apr 2026 12:44:00 +0530 https://dailyworld.in/business/thoothukudi-match-manufacturers-in-tn-to-halt-production-from-april-12-to-25-over-rising-costs-668610.html Thoothukudi April 9 The safety match industry in southern Tamil Nadu will remain closed from April 12 to 25 as manufacturers have announced a complete shutdown in protest against the steep rise in raw material prices and alleged hoarding by wholesale traders Industry representatives have urged the state and union governments to step in immediately and initiate discussions to resolve the crisis The shutdown decision was taken jointly by manufacturersâ associations in Kovilpatti Sattur and Sivakasi key centres of Indiaâs match productionThe move is expected to impact nearly five lakh workers directly employed in the sector which generates around Rs 800 crore in domestic trade and Rs 600 crore in exports annuallyManufacturers say the surge in input costs has made it financially unviable to continue operations particularly while maintaining the longstanding retail price of Rs one per matchbox The crisis has intensified following global supply disruptions linked to the ongoing conflict in West Asia involving the United States Israel and IranAccording to industry data the price of paraffin wax has risen sharply from Rs 80 to Rs 165 per kilogram while sulphur has jumped from Rs 26 to Rs 81 per kilogram Phosphorus prices have increased from Rs 605 to Rs 646 per kilogram and potassium dichromate from Rs 276 to Rs 345 per kilogramOther materials such as potassium chlorate carton boxes BOPP reels and match splints sourced from Kerala have also witnessed significant price hikesM Paramasivam president of the National Small Safety Match Association alleged that wholesale traders are hoarding raw materials creating artificial shortages in the marketHe said that despite procurement attempts adequate supplies have not reached manufacturers since the conflict began Describing the situation as critical he warned that the industry cannot sustain operations under current cost pressuresHe urged authorities to take strict action against hoarding practices and ensure fair pricing and availability of essential inputsWith production set to halt for nearly two weeks industry stakeholders fear serious economic consequences including wage losses for thousands of workers and disruption of supply chains unless urgent corrective measures are implemented IANS https://dailyworld.in/business/thoothukudi-match-manufacturers-in-tn-to-halt-production-from-april-12-to-25-over-rising-costs-668610.html Thu, 09 Apr 2026 12:45:00 +0530 https://dailyworld.in/business/sensex-may-rise-22-pc-to-95-000-by-year-end-morgan-stanley-668632.html Mumbai April 9 IANS Global brokerage firm Morgan Stanley on Thursday said that Indian markets are poised for a strong rally with Sensex likely to touch 95000 level by December 2026nbspIn its latest India Equity Strategy Playbook report the brokerage firm said that the current combination of depressed valuations improving earnings momentum and cautious investor positioning reflects conditions typically seen near the end of market downturnsIn the base case the headline index Sensex is expected to touch the 95000 mark by December 2026 implying an upside potential of 22 per cent from Wednesdays closing according to the brokerageIt noted that downside risks appear limited compared to potential gains describing the present phase as an attractive entry point for longterm investorsThe brokerage also pointed out that Indias trailing market performance over the past year is close to historic lows while relative valuations have declined sharplyHowever underlying fundamentals remain strong supported by robust domestic demand policy stability and a recovery in capital expenditureA major factor behind its bullish outlook is the revival in the earnings cycle Highfrequency indicators point to strengthening trends across consumption investment and services even as market expectations remain subdued the brokerage notedAnalysts also noted that Indias share of global corporate profits now exceeds its index weight by the widest margin on recordThe brokerage has expected positive earnings revisions going forward and said it remains ahead of consensus estimatesForeign investor positioning which has weakened in recent months could further support an upside surprise if earnings momentum continues to improveOn valuations Morgan Stanley pointed out that the Sensex is currently trading at its cheapest level when measured against gold a longterm indicator often associated with major market turning pointsMoreover Indias relative pricetobook multiples are near historical lows even as macroeconomic stability improves and policy uncertainty remains limitedWhile risks from geopolitical tensions and global growth remain Morgan Stanley believes the broader outlook points towards a sustained market recoveryIANS https://dailyworld.in/business/sensex-may-rise-22-pc-to-95-000-by-year-end-morgan-stanley-668632.html Thu, 09 Apr 2026 13:55:00 +0530 https://dailyworld.in/business/railways-to-drive-growth-as-india-targets-3-000-million-tonnes-freight-capacity-by-2030-668635.html New Delhi April 9 Railways are set to play a key role in driving Indiaâs economic growth as the country targets a freight capacity of 3000 million tonnes by 2030 a report has said As per the ASSOCHAMAESCLA report railways currently account for up to 30 per cent of freight movement indicating substantial growth potentialIt highlighted that the sector is undergoing rapid transformation driven by initiatives such as Dedicated Freight Corridors and nearcomplete electrification which are improving efficiency and sustainabilityThe report pointed out the need to increase railâs modal share through capacity expansion further development of Dedicated Freight Corridors greater private sector participation and improved lastmile connectivityIt also underlined the importance of reducing logistics costs currently at around 797 per cent of GDP to enhance Indiaâs global competitivenessDr Surendra Kumar Ahirwar Executive Director Traffic Commercial Railway Board said Indian Railways is undergoing accelerated transformation and evolving into a futureready system He noted that the railways are not only facilitating economic growth but also contributing to it through a vast manufacturing and service ecosystemHe highlighted major drivers of this transformation including improved safety standards rapid capacity expansion continuous technology upgradation adoption of AI and a shift towards endtoend logistics solutions with strong first and lastmile connectivity He also pointed to the need to reduce the cost of container productionAhirwar further said that Indian Railways has added nearly 31000 km of track over the past decade reflecting a significant pace of infrastructure expansionSanjay Bajpai Advisor Railways Council ASSOCHAM said Indian Railways is transitioning from a traditional transporter to a key driver of logistics efficiency industrial competitiveness and economic expansion He emphasised the need for modern terminals improved port connectivity and seamless multimodal integrationHe added that with freight loading already exceeding 16 billion tonnes annually the sector is poised for strong growth supported by infrastructure development policy reforms and digitalisation IANS https://dailyworld.in/business/railways-to-drive-growth-as-india-targets-3-000-million-tonnes-freight-capacity-by-2030-668635.html Thu, 09 Apr 2026 13:57:00 +0530 https://dailyworld.in/business/s-korea-yet-to-receive-request-for-fee-for-transit-through-strait-of-hormuz-668641.html Seoul April 9 South Korea has yet to receive any official request from Iran on fees for passage through the Strait of Hormuz a Seoul official said on Thursday adding that the government is still working to identify the situation surrounding the major shipping route amid a fragile twoweek ceasefire between the United States and Iran There has been no request from Iran for transit fees or payments Yang Ghiwuk deputy minister for trade industry and resource security said in a regular press briefing on energy supply when asked about media reports that Iran is demanding fees in cryptocurrency or Chinese yuan for ships passing through the straitIt is too early to determine whether Iran would actually charge fees and how the international community would respond to such a move Yang explained noting that domestic fuel prices may go up by up to 1 percent should such fees be charged reports Yonhap news agencyRegarding the status of the Hormuz strait and conditions for safe passage the deputy minister said the foreign ministry was trying to communicate with Iran on the matter but that he has not yet been informed of any meaningful progressThe government is continuing its efforts to secure alternative crude supplies with 50 million barrels secured for April and 60 million barrels for May according to Yang Supplies for the following months are also being securedThe volumes secured for April and May account for about 60 percent and 70 percent respectively of the usual monthly import level of 80 million barrels the trade ministry said earlierSupplies of materials for industries and daily necessities such as helium ethylene gas and others are facing no major disruptions according to the ministry IANS https://dailyworld.in/business/s-korea-yet-to-receive-request-for-fee-for-transit-through-strait-of-hormuz-668641.html Thu, 09 Apr 2026 14:31:00 +0530 https://dailyworld.in/business/fresh-600-million-borrowing-flags-pakistans-fragile-finances-report-668652.html New Delhi April 9 Pakistanâs economy remains under pressure as its decision to secure a 600 million shortterm loan from Standard Chartered Bank has once again highlighted the countryâs fragile external financing position amid mounting fiscal and external challenges according to a new report According to an Asian News Post report the loan is priced at SOFR plus 26 per cent translating to an interest rate of around 63 per cent aimed at supporting foreign exchange reserves which have come under strain due to a shortfall in expected foreign commercial inflowsDrawn against energy imports the facility comes at a time when Pakistan has received only 54 million of the 31 billion it had budgeted under foreign commercial loans for the current fiscal year the report notedIt further pointed out that of the planned 26 billion in total external borrowing only 57 billion has materialised so far including disbursements from the International Monetary Fund IMFAt the same time the country recently repaid a 700 million loan to the China Development Bank with foreign exchange reserves declining to 155 billion as of February 10The government is expected to seek refinancing of this amount in June along with another 1 billion commercial loanAccording to the report analysts have termed âbudgetary fictionâ a key factor driving the financial imbalanceDespite plans to raise 400 million through sovereign bond issuance this fiscal year no such transaction has taken place so farSimilarly a proposed 250 million Panda bond issue has seen little progressThe broader macroeconomic backdrop remains challenging Exports have declined by 7 per cent in the first seven months of the fiscal year while foreign direct investment has dropped over 41 per cent to 981 millionThe government is targeting foreign exchange reserves of 18 billion by June banking on improved remittances fresh borrowing and continued deposits worth 125 billion from Saudi Arabia the UAE and ChinaEconomists have also flagged concerns over rising public debt and fiscal slippages Pakistanâs public debt has reached around PKR 785 trillion or 68 per cent of GDP while interest payments have surged 43 per cent to PKR 64 trillionThey noted that structural issues including weak revenue mobilisation reliance on optimistic budget projections and increased supplementary spending continue to undermine fiscal disciplineIn the absence of strong institutional oversight analysts said Pakistan remains dependent on external financing to maintain macroeconomic stability with shortterm borrowing increasingly becoming a recurring necessity IANS https://dailyworld.in/business/fresh-600-million-borrowing-flags-pakistans-fragile-finances-report-668652.html Thu, 09 Apr 2026 15:06:00 +0530 https://dailyworld.in/business/how-shopclues-collapsed-from-a-11-billion-unicorn-to-a-distress-sale-668656.html New Delhi April 9 How ShopClues went from being one of Indiaâs most promising unicorns to a deeply discounted acquisition has emerged as one of the most striking examples of value destruction in the countryâs startup ecosystem Once valued at 11 billion in 2016 and preparing for a potential public listing the Gurugrambased ecommerce firm saw its fortunes unravel rapidly before being acquired by Singaporebased Qoo10 in 2019 for roughly 70100 million in an allstock deal wiping out over 90 per cent of its valuationFounded as an âonline Chandni Chowkâ ShopClues built its early success by catering to pricesensitive consumers in TierII and TierIII cities offering unbranded and lowcost goodsThis positioning helped it scale quickly at a time when larger rivals like Amazon and Flipkart were focused primarily on metro marketsHowever that advantage proved shortlived as both giants aggressively expanded into smaller towns with superior logistics deeper discounts and stronger customer trustAs competition intensified ShopClues began losing its core differentiator Its marketplace model heavily dependent on unorganised sellers soon ran into quality control issuesThe platform developed a reputation for counterfeit and lowquality products leading to high return rates estimated at 30â40 per cent and eroding consumer confidence at a time when rivals were investing heavily in reliability and serviceThe companyâs troubles were compounded by internal turmoil Cofounder Sandeep Aggarwal had earlier stepped down following insider trading charges in the US leaving Radhika Aggarwal and Sanjay Sethi to steer the companyA subsequent public fallout between the founders further dented investor confidence and distracted leadership at a critical junctureFinancial pressures soon escalated into a âdeath spiralâ In a bid to demonstrate a path to profitability ahead of a potential IPO ShopClues slashed marketing spends which led to a sharp drop in gross merchandise valueMultiple attempts to raise fresh funding failed with even existing investors reluctant to commit additional capitalThe firm also explored strategic pivots including building an enterprisefocused vertical and expanding its reseller platform but these efforts were insufficient to reverse the declineRegulatory scrutiny including reports of an Enforcement Directorate probe into certain fund flows added to the uncertaintyMeanwhile after stepping down from chief executive post in 2015 Sandeep later founded Droom an online marketplace to buy and sell used automobiles which is also facing a massive GST investigation by GST Pune Jaipur and HaryanaHowever the company said that âDroom will fully comply with all applicable laws and regulatory disclosure requirementsâ IANS https://dailyworld.in/business/how-shopclues-collapsed-from-a-11-billion-unicorn-to-a-distress-sale-668656.html Thu, 09 Apr 2026 15:09:00 +0530 https://dailyworld.in/business/pakistans-oil-companies-face-crisis-as-govt-holds-up-funds-668665.html New Delhi April 9 Pakistans oil marketing companies are facing an acute liquidity crisis as up to Rs107 billion in unpaid price differential claims remain stuck with industry players accusing the Oil and Gas Regulatory Authority of repeatedly shifting documentation requirements instead of clearing dues according to an article in the local media Industry estimates show the first claim of around Rs 27 billion filed in midMarch was only partially settled while subsequent claims worth Rs 7080 billion remain entirely unpaid The cumulative exposure has left companies operating on razorthin margins and struggling to sustain the cash flow as per the article in the Karachibased Express TribuneOfficials say the issue is not transparency but unpredictability Each time OMCs move to comply Ogra introduces fresh documentation demands â from invoicelevel reconciliations to repeated CEO CFO and auditor certifications â effectively resetting the process A revised format was circulated as recently as Monday night with no clarity on whether further changes will follow Each time the industry prepares to comply a new requirement arrives There is no finishing line in sight a senior industry source said noting that some audit firms may refuse involvement as the requirements fall outside of the standard audit scopeThe situation may worsen if the regulatory authority proceeds with a proposal to withhold 10 per cent of the payments until tax reconciliation with the Federal Board of Revenue â a move that could lock up another Rs74 billion for up to two monthsPrice differential claims arise when the government caps fuel prices below procurement cost and the difference needs to be reimbursed Delays force oil marketing companies to bridge the gap through borrowing which adds to the financial strainIndustry officials warn the crisis could soon translate into fuel supply disruptions if the liquidity continues to erode The sector has urged the Ministry of Energy to intervene and has called for immediate settlement of dues a single documentation framework and withdrawal of the proposed move to withhold some of the payments the article added IANS https://dailyworld.in/business/pakistans-oil-companies-face-crisis-as-govt-holds-up-funds-668665.html Thu, 09 Apr 2026 15:50:00 +0530 https://dailyworld.in/business/rbi-holds-repo-rate-at-525-pc-maintains-neutral-instance-amid-global-uncertainty-668466.html New Delhi April 8 IANS The Reserve Bank of India RBI on Wednesday kept the repo rate unchanged at 525 per cent and maintaining the status quo in its latest Monetary Policy Committee MPC meetingnbspThe Standing Deposit Facility SDF rate has been kept unchanged at 5 per cent while the Marginal Standing Facility MSF rate remains at 550 per cent RBI Governor Sanjay Malhotra said while announcing the MPC decisionThe RBI Governor described 2025 as a challenging year but noted that inflation has eased since the October policy He also highlighted improved efficiency in the banking system as a key support for the economyHighfrequency indicators up to February indicate sustained strength in economic activity Malhotra saidHe added that growth continues to be driven by strong private consumption and steady investment demandGrowth impulses remain supported by robust private consumption and sustained investment demand Malhotra noted Urban consumption is likely to strengthen further aided by the beneficial impact of GST rationalisation and the buoyant services sector he addedHowever the MPC cautioned against global uncertainties The intensity and duration of the conflict along with possible damage to energy and other infrastructure pose risks to both inflation and growth outlooks the Governor notedHe also cautioned that elevated crude oil prices could add to macroeconomic pressures Elevated crude oil prices could increase imported inflation and widen the current account deficit Malhotra saidFurther the Governor warned that weaker global growth prospects may dampen external demand and reduce remittance flows He further state that under the revised GDP series real GDP growth for the previous year is pegged at 76 per centMalhotra said potential disruptions in the Strait of Hormuz could weigh on growth in the current yearHe added that the government has taken proactive steps to ensure the availability of key inputs across critical sectors helping contain supply chain disruptions The Governor also noted that business sentiment continues to remain optimisticIANS https://dailyworld.in/business/rbi-holds-repo-rate-at-525-pc-maintains-neutral-instance-amid-global-uncertainty-668466.html Wed, 08 Apr 2026 12:20:00 +0530 https://dailyworld.in/business/pm-modi-highlights-11-years-of-pmmy-calls-it-a-boost-to-self-employment-among-youth-668470.html New Delhi April 8 IANS As the Pradhan Mantri Mudra Yojana PMMY completed 11 years Prime Minister Narendra Modi on Wednesday said the scheme has played a crucial role in promoting selfemployment among the youthnbspTaking to social media platform X PM Modi said Launched exactly 11 years ago today the Pradhan Mantri Mudra Yojana has proven to be immensely helpful in fostering selfemployment among the youth The success of this scheme demonstrates that given the right opportunities an individual can not only become selfreliant but also contribute to the progress of the nationThe PMMY was launched on April 8 2015 with the aim of providing collateralfree credit of up to Rs 20 lakh through Member Lending Institutions including Scheduled Commercial Banks NonBanking Financial Companies and Micro Finance InstitutionsUnder the scheme any eligible individual with a viable business plan for a small enterprise can avail loans for incomegenerating activities across manufacturing trading and service sectors including those allied to agriculture The loans are categorised into four segments Shishu loans up to Rs 50000 Kishor loans above Rs 50000 and up to Rs 5 lakh Tarun loans above Rs 5 lakh and up to Rs 10 lakh and Tarun Plus loans above Rs 10 lakh and up to Rs 20 lakhThe scheme has significantly supported small businesses handicrafts traditional enterprises and agricultureallied activities many of which are key sources of income for rural householdsnbspWomen entrepreneurs in particular have benefited from the initiative as it provides access to credit without the need for collateral or an extensive credit historyTo further incentivise successful borrowers the government introduced the Tarun Plus category in 202425 This category offers collateralfree loans of up to Rs 20 lakh to entrepreneurs who have previously availed and successfully repaid loans under the Tarun categoryAdditionally the government has taken several measures to simplify the loan application process and ensure timely disbursal Platforms such as the Jan Samarth Portal have been launched enabling applicants to access multiple creditlinked schemes through a streamlined and userfriendly processIANS https://dailyworld.in/business/pm-modi-highlights-11-years-of-pmmy-calls-it-a-boost-to-self-employment-among-youth-668470.html Wed, 08 Apr 2026 12:27:00 +0530 https://dailyworld.in/business/rbis-rate-pause-will-provide-stability-to-mortgage-rates-experts-668486.html New Delhi April 8 IANS Reserve Bank of Indias decision to keep the repo rate unchanged at 525 per cent is likely to provide stability for mortgage rates real estate industry leaders said on WednesdaynbspShrinivas Rao FRICS CEO Vestian welcomed the pause as a relief for developers and homebuyers as it will keep mortgage rates competitive when construction costs remain elevated over the ongoing West Asia crisisRao said the move could help cushion the impact of rising input costs on demand and allow stakeholders to recalibrate their strategies in response to evolving market dynamicsHowever the current rate pause may be the last one before the repo rate begins its upward trajectory he forecastedShishir Baijal International Partner Chairman ampamp Managing Director Knight Frank India said the neutral stance will provide muchneeded predictability to the broader economyStable borrowing costs help preserve affordability for homebuyers while also enabling developers to plan with greater confidence In an environment where sentiment can be easily influenced by macroeconomic signals the absence of rate volatility acts as a reassuring factor for the market Baijal saidOverall the RBIs decision helps maintain demand traction and provides the confidence needed for continued market activity in the near term he saidMarket analysts also flagged supplychain shocks and higher input prices as headwinds on ongoing and future construction activitiesThe intensity ampamp duration of the ongoing crisis will have a significant bearing on consumption patterns including retail hospitality and housing demand especially in the affordable ampamp mid income segments said Vimal Nadar National Director ampamp Head Research Colliers IndiaMeanwhile the Indian economys strong fundamentals will provide a cushion for the real estate sector to remain resilient in the medium term he forecastedRBI has kept the repo rate unchanged at 525 per cent in its first MPC meeting of the fiscal year signalling a waitandwatch approach amid ongoing West Asia crisisThe central bank projected the countrys inflation rate based on the Consumer Price Index CPI for 202627 at 46 per cent and the GDP growth at 69 per centIANS https://dailyworld.in/business/rbis-rate-pause-will-provide-stability-to-mortgage-rates-experts-668486.html Wed, 08 Apr 2026 13:31:00 +0530 https://dailyworld.in/business/pakistan-international-airlines-scraps-passenger-discounts-cuts-flights-report-668496.html New Delhi April 8 IANS Pakistan International Airlines PIA has scrapped most passenger discounts and cut flight frequencies as rise in jet fuel prices squeezed the air carriers finances a new report has saidnbspPakistanbased Dawn cited a PIA spokesperson as saying that concessions are currently limited to children and infants and all other fare discounts withdrawnThe move followed a highlevel review of rising fuel costs and potential losses after Jet fuel JP1 prices jumped significantly over four times in recent weeksThe International Air Transport Associations IATA latest fuel monitor showed the global average jet fuel price touching 19519 a barrel last week according to multiple reportsPIA has also cut frequencies and suspended several international routes to counter global supply disruptions linked to the USIsrael war on IranPIA informed that flights to the UAE will be capped at 16 per week and services to other Gulf countries except Saudi Arabia will be suspended until the end of April Further flight operations to Beijing and Kuala Lumpur will also be halted from April 11 and April 14 respectivelyThe entire burden of higher fuel prices cannot be passed on to passengers the spokesperson said adding that administrative measures were necessary to limit financial lossesPakistan recently raised petrol prices to Rs 45840 per litre with a petroleum levy of Rs 161 per litre and a recent report said the move risks a structural shock on an already fragile economy The country later announced some relief on petrol pricesThe hike necessary under the constraints of the IMF programme will pass through supply chains inflating input costs compressing margins and ultimately dampening output it saidWhile the hike aims to mobilise revenue after the administration missed tax targets it will ultimately end up being a direct hit on viability of small and medium enterprises and transportdependent sectors the report notedIANS https://dailyworld.in/business/pakistan-international-airlines-scraps-passenger-discounts-cuts-flights-report-668496.html Wed, 08 Apr 2026 14:24:00 +0530 https://dailyworld.in/business/centre-introduces-new-lpg-allocation-formula-to-support-key-industries-amid-middle-east-tensions-668502.html New Delhi April 8 IANS Amid rising tensions in the Middle East the Indian government on Wednesday introduced a new formula for LPG allocation aimed at supporting critical sectors such as pharmaceuticals food processing and agriculturenbspAccording to the Ministry of Petroleum and Natural Gas the revised policy will ensure bulk LPG supply to a wide range of industries including pharma food polymers agriculture packaging paints steel ceramics glass and aerosolsThese sectors are considered essential for the countrys economic stability and supply chainsUnder the new formula industries will receive up to 70 per cent of their LPG consumption levels recorded before March 2026However the overall allocation has been capped at 02 thousand metric tonnes per day for the entire sectorThe government has clarified that priority will be given to factories where LPG cannot be replaced by natural gasIn such cases these units will receive LPG supply first to ensure uninterrupted productionAt the same time industries are required to register with oil marketing companies and apply for piped natural gas PNG connections through city gas distribution firmsHowever this requirement has been relaxed for units where LPG is an essential part of the manufacturing process and cannot be substitutedThe Centre has also already allocated 70 per cent of packaged nondomestic LPG to statesAn additional 10 per cent allocation will be given to those states that implement reforms related to PNG adoptionThe government has asked states to take three key steps circulate the Natural Gas and Petroleum Products Distribution Order 2026 among all departments quickly utilise the reformlinked LPG allocation benefits and notify policies related to compressed biogas at the earliestEarlier the ministry reported a sharp rise in demand for smaller LPG cylinders Since March 23 around 78 lakh 5kg free trade LPG cylinders have been sold across the countryOn a single day earlier this week sales crossed 106 lakh cylinders compared to an average of about 77000 per day in FebruaryIANS https://dailyworld.in/business/centre-introduces-new-lpg-allocation-formula-to-support-key-industries-amid-middle-east-tensions-668502.html Wed, 08 Apr 2026 15:26:00 +0530 https://dailyworld.in/business/pakistan-brazenly-breaching-terms-of-imf-loans-report-668504.html New Delhi April 8 IANS While the International Monetary Fund IMF has asked Pakistan to remove subsidy on diesel as keeping prices of fuels below the market price violates the conditions that have been fixed for its loans to the cashstrapped country Islamabad has in brazen defiance of the norms gone ahead with reducing the subsidy on petrol as wellnbspThe prime ministers Friday night dash to slash the petrol levy undoing a massive price hike meant to fully pass on the global increase in fuel prices over supply disruptions from just 24 hours earlier suggests the government is back to its old economic playbook an article in Karachiheadquartered Dawn newspaper statesnbspWhile the move might not immediately blow up the latest stafflevel agreement with the IMF the lender remains concerned about existing distortions particularly in diesel pricing introduced after the first adjustment amid the USIsrael war on Iran on March 7 and is pressing for their early removal the article points outInitially the government had sought to offset the revenue loss from the petroleum levy on diesel currently at zero against the Rs 80 per litre targeted in the budget through higher levy rates on petrol But this cushion has narrowed sharply after the prime minister slashed the petrol levy by Rs 80 per litre to extend relief to all income groups rather than maintaining a targeted subsidy the article observesThe IMF quietly tolerated the targeted subsidy declared by the government presumably because it did not undermine the levys revenue target Last weeks announcement however has significantly altered that positionIt suggests that the governments attempt to balance public relief and fiscal discipline is becoming increasingly untenable A populist move the decision to slash the levy will weaken a major revenue source at a time when tax collection continues to fall short of the target the article statesnbspThis raises serious questions about the feasibility of meeting key IMF programme benchmarks such as the primary surplus The lenders insistence on removing distortions is therefore grounded in sound economic logic Islamabads predicament is largely selfinflictedYears of delayed tax reforms and a reluctance to decisively curb wasteful public expenditure have left the state with limited fiscal space to respond to external shocks The current oil price surge exacerbated by disruptions in global supply routes has merely exposed these underlying vulnerabilities the article points out IANS https://dailyworld.in/business/pakistan-brazenly-breaching-terms-of-imf-loans-report-668504.html Wed, 08 Apr 2026 15:44:00 +0530 https://dailyworld.in/business/crude-price-surge-impacts-biodegradable-bag-cost-across-tn-668219.html Chennai April 7 A steep increase in the price of biodegradable bags has begun to impact small businesses across Tamil Nadu with traders and manufacturers citing global geopolitical tensions and rising input costs as the primary reasons behind the surge The recent escalation in tensions between the United States and Iran has pushed up international crude oil prices indirectly affecting industries that depend on petroleumlinked inputs including the biodegradable packaging sectorDespite being marketed as ecofriendly alternatives made from plantbased materials such as cornstarch PLA polylactic acid and PBAT biodegradable bags still require a portion of crude oil derivatives during manufacturing making them sensitive to global oil price fluctuationsâNearly 20 to 30 per cent of the raw materials used in biodegradable bags are linked to crude oil derivatives With global crude prices rising by around 20 to 30 per cent in recent weeks production costs have increased substantiallyâ said a manufacturer based in UthukottaiIndustry estimates indicate that the cost of manufacturing one kilogram of biodegradable bags has jumped from approximately Rs 127 to Rs 170 Correspondingly the market price has risen steeply from around Rs 150 per kg to nearly Rs 250 per kg placing additional financial pressure on both suppliers and end usersThe impact of the price hike is already visible at the retail level Small traders who had gradually shifted to biodegradable alternatives following restrictions on singleuse plastics are now being forced to cut back usage to manage expenses âWe now provide biodegradable bags only when customers make purchases worth Rs 100 or more For smaller purchases we are switching to paper coversâ said a shop owner at Parrys Corner in Chennai reflecting a growing trend among petty retailersWhile biodegradable bags emerged as a sustainable replacement for plastic in recent years the current cost escalation is threatening their widespread adoption particularly among smallscale vendorsExperts caution that unless raw material costs stabilise or policy support is introduced the shift towards environmentally friendly packaging could face a setback with businesses reverting to cheaper alternatives despite environmental concerns IANS https://dailyworld.in/business/crude-price-surge-impacts-biodegradable-bag-cost-across-tn-668219.html Tue, 07 Apr 2026 10:51:00 +0530 https://dailyworld.in/business/sensex-nifty-slide-1-pc-as-hormuz-deadline-by-us-rattles-markets-668226.html Mumbai April 7 The Indian stock markets on Tuesday witnessed sharp losses in early trade with equity benchmarks declining 1 per cent each amid uncertainty over a possible resolution to the West Asia conflict ahead of a deadline set by US President Donald Trump to reopen the Strait of Hormuz Sensex opened 372 points or 050 per cent lower at 73734 while Nifty began the session at 22838Later in early trade the 30scrip basket declined as much as 111 per cent or 82444 points hitting an intraday low of 73282 while the 50share index plummeted by 1 per cent or 24895 points to 2271930 an intraday low amid selling pressure in all sectorsSectorwise financial auto real estate and pharma indices declined up to 2 per cent Meanwhile Interglobe Aviation IndiGo Eternal Max Healthcare MampM Eicher Motors Apollo Hospitals and Dr Reddys were among the top laggardsAccording to analysts recent price action indicates improving sentiment backed by buying at lower levelsThe undertone remains positive but sustainability depends on strength above key resistance zones Traders should stay selective and wait for price confirmation near crucial levels before taking fresh positions the analysts advisedMeanwhile the oil commodity market is in bullish territory near its highs with Brent crude futures jumping as much as 169 per cent to 11163 per barrel and US WTI crude trading at 11564 an increase of about 3 per centMoreover Asian stocks showed mixed performance with key indices the Nikkei Hang Seng and KOSPI trading flat down 071 per cent and up 040 per cent respectivelyIn the US Wall Street closed mildly positive with the SampP 500 closing at 661183 up 2914 points or 044 per cent while the techheavy Nasdaq settled at 2199634 an increase of 11716 points or 054 per centFIIs remained net sellers in India on Monday and offloaded Rs 8167 crore while DIIs provided support by purchasing equities worth Rs 8000 crore IANS https://dailyworld.in/business/sensex-nifty-slide-1-pc-as-hormuz-deadline-by-us-rattles-markets-668226.html Tue, 07 Apr 2026 11:16:00 +0530 https://dailyworld.in/business/crude-oil-prices-surge-over-3-pc-over-iran-tensions-trump-deadline-668229.html New Delhi April 7 Global crude oil prices on Tuesday hit new highs jumping more than 3 per cent amid geopolitical tensions and US President Donald Trumpâs Tuesday deadline to reopen the Strait of Hormuz to Iran Brent crude futures advanced as much as 169 per cent or 186 to 11163 an intraday high as of 957 am The US West Texas Intermediate crude futures increased more than 3 per cent or 415 to 11687Brent crude has witnessed a gain of over 60 per cent since the conflict began from 7248 Feb 27 to 11950 March 9Gains in oil commodities come after the US President showed fresh aggression towards Iran in recent posts on a social media platform regarding reopening HormuzHis post suggested that it would ârain hellâ on Tehran if it does not comply with his Tuesday night deadline to reopen the strait He also threatened that Iran could be âtaken out in one nightâAccording to him if no deal is concluded âevery bridge in Iran will be decimatedâ and âevery power plant in Iran will be out of business burning exploding and never to be used againâOn the other side Iran reportedly rejected the ceasefire plan and continued its fight with the worldâs strongest economyThe Strait which handles roughly onefifth of global oil flows has remained disrupted since the conflict began on February 28 causing crude prices to rise approximately 90 per cent yeartodate averaging around the 100 markMeanwhile on the equities front global markets were mixed Indian stock markets traded lower on Tuesday with the Sensex and Nifty falling up to 1 per centIn the US Wall Street ended on a mildly positive note while Asian stocks traded mixed IANS https://dailyworld.in/business/crude-oil-prices-surge-over-3-pc-over-iran-tensions-trump-deadline-668229.html Tue, 07 Apr 2026 11:28:00 +0530 https://dailyworld.in/business/govt-doubles-daily-5-kg-lpg-cylinder-quota-for-migrant-labourers-across-states-668255.html New Delhi April 7 The Centre has decided to double the daily allocation of 5kg free trade LPG FTL cylinders available for distribution to migrant labourers across states according to an official communication The Petroleum Ministry said in a notification the enhanced allocation will be based on the average daily supply of cylinders provided to migrant workersThe revised allocation goes beyond the earlier cap of 20 per cent specified in March announcementThe government also said that the additional 5kg FTL cylinders will be placed at the disposal of state governments and their Food and Civil Supplies Departments for distribution exclusively to migrant labourers with the assistance of oil marketing companies OMCsEarlier the government had said it was making all efforts to ensure adequate availability of petrol diesel and LPG amid the prevailing geopolitical situation while advising citizens to avoid panic buying and rely only on official sources for informationConsumers were also encouraged to use digital modes for LPG bookings and minimise visits to distributors unless necessaryThe government has prioritised domestic LPG and PNG supplies along with critical sectors such as hospitals and educational institutionsIt has also implemented several demand and supplyside measures including enhancing refinery output and increasing LPG booking intervals to 25 days in urban areas and up to 45 days in rural areasTo ease pressure on LPG demand alternate fuels such as kerosene and coal have been made available while states have been advised to expand PNG connectionsThe government also said there has been no disruption in LPG supply affecting migrant workersAccording to official data around 51 lakh domestic LPG cylinders were delivered recently with online bookings rising to 95 per cent and delivery authenticationbased distribution increasing significantly to curb diversion IANS https://dailyworld.in/business/govt-doubles-daily-5-kg-lpg-cylinder-quota-for-migrant-labourers-across-states-668255.html Tue, 07 Apr 2026 12:50:00 +0530 https://dailyworld.in/business/gold-silver-trade-choppy-as-crude-rallies-over-west-asia-tensions-668267.html New Delhi April 7 Gold and silver prices showed volatility in Tuesdayâs session amid geopolitical tensions following US President Donald Trumpâs recent aggressive posts on Iran On the Multi Commodity Exchange MCX gold futures June 5 were trading at Rs 150228 up Rs 247 or 016 per cent at 1135 amOn the intraday front the yellow metal rose as much as 032 per cent or Rs 493 to Rs 150474 Earlier in the session before 10 am it was trading lower by 023 per cent or Rs 356 at Rs 149625Similarly silver futures May 5 were trading 048 per cent or Rs 1121 higher at Rs 234500 The white metal gained nearly 1 per cent or Rs 2168 to hit an intraday high of Rs 235547 after earlier witnessing a decline of 067 per cent or Rs 1579 to an intraday low of Rs 231800According to analysts despite geopolitical tensions precious metals are not showing strong safehaven behaviourSimilarly MCX silver remains volatile around Rs 231000âRs 233000 with resistance at Rs 233000âRs 234000 Analysts said a breakout could push prices higher while a decline below Rs 230000 may accelerate lossesIn the international market precious metals were trading on a flat noteCOMEX gold was trading at 468134 down 336 or 007 per cent while COMEX silver was at 7294 up 009 or 013 per centMeanwhile spot gold stood at 4653 up 3 or 006 per cent while spot silver traded at 7278 down 002 or 004 per centThe volatility in precious metals comes amid rising uncertainty as traders and investors react to a deadline set by US President Donald Trump for Iran regarding the reopening of the Strait of HormuzIn response Iran reportedly said it seeks a lasting end to tensions with the US and Israel and pushed back against pressure to reopen the Strait Trump however warned that Iran could be âtaken outâ if it failed to meet his Tuesday night deadline to reach a dealIn addition crude oil prices surged sharply with Brent crude futures rising as much as 169 per cent or 186 to 11163 by 957 am US WTI crude futures jumped over 3 per cent or 415 to 11656 IANS https://dailyworld.in/business/gold-silver-trade-choppy-as-crude-rallies-over-west-asia-tensions-668267.html Tue, 07 Apr 2026 12:59:00 +0530 https://dailyworld.in/business/jubilant-foodworks-stock-declines-over-9-pc-over-weak-q4-business-update-668272.html Mumbai April 7 Shares of Jubilant FoodWorks Ltd the parent company of Dominos outlets in India plummeted sharply in early trade on Tuesday after the company reported weak likeforlike LFL growth in its fourth quarter Q4 business update The stock fell as much as 923 per cent to Rs 41850 on the NSE underperforming the benchmark Nifty 50 which declined 06 per centJubilant FoodWorks reported a consolidated revenue growth of 19 per cent yearonyear to Rs 2506 crore in the JanuaryMarch quarterHowever Dominoâs India posted a marginal LFL growth of 02 per cent during the quarter indicating muted demand trends in its core marketAnalysts said the weak LFL performance could weigh on margins in the India businessâDespite tailwinds from the T20 Cricket World Cup which is held biennially growth momentum remained subduedâ they addedAnalysts also highlighted limited scope for further expansion in delivery contribution and flagged concerns over an unfavourable base impacting growth going ahead In contrast the Turkey business showed relatively better tractionDuring the quarter the company added a net 69 stores across its network taking the total store count to 3663 Dominoâs India added 59 new outlets while the Turkey business added four storesSeparately the company said it will not renew its franchise agreement for Dunkin in India bringing an end to its 15year partnership amid persistent losses and weak growthThe existing agreement is set to expire on December 31 this year The company said it will evaluate options for the business including sale or transfer of franchise rights in consultation with DunkinâHowever the stock has witnessed a decrease of more than 20 per cent so far this year It declined about 40 per cent in the last oneyear horizon IANS https://dailyworld.in/business/jubilant-foodworks-stock-declines-over-9-pc-over-weak-q4-business-update-668272.html Tue, 07 Apr 2026 13:02:00 +0530 https://dailyworld.in/business/global-oil-shock-air-india-hikes-fuel-surcharge-on-domestic-international-routes-668287.html New Delhi April 7 IANS Air India on Tuesday announced a revision in fuel surcharge across domestic and international routes amid a rise in global jet fuel pricesnbspFor domestic routes the airline said it will shift from a flat surcharge to a distancebased structure effective from WednesdayThe revised surcharge will range from Rs 299 for flights up to 500 kms to Rs 899 for sectors above 2000 kmsThe move follows the governments decision to cap the increase in domestic Aviation Turbine Fuel ATF prices at 25 per cent which allows airlines to adopt a calibrated approach in passing on costs to passengersHowever the airline will implement steeper revisions due to the absence of similar price controls on ATF for international routesCiting data from the International Air Transport Association IATA Air India said global jet fuel prices surged to 19519 per barrel for the week ending March 27 nearly doubling from 9940 at the end of FebruaryThe airline said the sharp rise was driven by increases in both crude oil prices and refining margins with the crack spread jumping significantly in recent weeks leading to one of the most challenging fuel cost environments for airlines in recent yearsAfter the revised structure fuel surcharge on international routes will vary by region starting from 24 for SAARC destinations excluding Bangladesh and going up to 280 for North America and Australia Europebound flights will attract a surcharge of 205The airline said that even after the revision surcharges do not fully compensate for the steep rise in fuel costs and it continues to absorb a significant portion of the increaseTickets issued before the revised timings will not attract the new surcharge unless passengers make changes to their travel plans requiring fare recalculationEarlier IndiGo increased fuel charges on flight operations due to the surge in aviation turbine fuel ATF pricesIANS https://dailyworld.in/business/global-oil-shock-air-india-hikes-fuel-surcharge-on-domestic-international-routes-668287.html Tue, 07 Apr 2026 13:53:00 +0530 https://dailyworld.in/business/air-india-confirms-resignation-of-its-ceo-campbell-wilson-668296.html New Delhi April 7 IANS Air India on Tuesday confirmed the resignation of Chief Executive Officer and Managing Director Campbell WilsonnbspnbspIn an official statement the airline said that a committee has been constituted to find the successor in the coming monthsWilson had conveyed his intention to step down in 2026 to Air India Chairman N Chandrasekaran in 2024 and since then has been working to ensure the organisation and leadership team is on a stable footing for the transition the airline statedHe will remain in the role until his successor is announced and in place it addedCommenting on the development Wilson said that the four years since Air Indias privatisation has seen the acquisition and successful merger of four airlines an evolution from public to private sector practices along with renewal of the leadership team workforce culture and ways of operatingIt has seen the complete modernisation of systems the launch of new physical products and deployment of elevated service standards on ground and in the air as well as 100 additional aircraft added to the fleet Wilson statedThe full interior refit of legacy narrowbody aircraft has allbut been completed with deliveries of widebody aircraft with new customdesigned interiors now underway he addedChairman Chandrasekaran said conveyed gratitude for Wilsons efforts and contribution at Air IndiaHe said that on behalf of the Board I wish to record my deep appreciation for Campbells leadership and contribution over the past four yearsIn addition to the progress mentioned above it is also worth acknowledging the numerous external challenges navigated by the Air India team including prolonged postCovid supply chain constraints that have impacted delivery of new aircraft and retrofit programs as well as major geopolitical and other headwinds he statedCampbell and his team have demonstrated tenacity and resolve and have aligned an organisation drawn from many backgrounds behind the shared goal of building the new Air India that is now emerging Chandrasekaran mentionedIANS https://dailyworld.in/business/air-india-confirms-resignation-of-its-ceo-campbell-wilson-668296.html Tue, 07 Apr 2026 14:23:00 +0530 https://dailyworld.in/business/india-canada-cepa-to-provide-huge-growth-boost-due-to-complementary-nature-of-economies-668299.html New Delhi April 7 IANS The proposed Comprehensive Economic Partnership Agreement between India and Canada gains huge leverage from the complementary nature of both countrys economies a new report has saidnbspThe report from Asian News Post highlighted that Indias fastgrowing consumer market strength in services sector and manufacturing push pairs perfectly well with Canadas resource base advanced research and cleantechnology expertiseThis complementary nature creates a natural basis for mutually beneficial economic cooperation in renewable energy critical minerals and technology exchangeThe CEPA could boost bilateral trade to 50 billion by 2030 and increase investment strengthen supply chains and promote innovationdriven partnershipsCanada can support Indias increasing demand for energy critical minerals and agricultural inputs while India can give Canadian companies access to a large consumer market a skilled workforce and competitive manufacturing capabilities the report saidThe revival of negotiations for a Comprehensive Economic Partnership Agreement CEPA between India and Canada marks both countries advancing toward pragmatic collaboration driven by shared economic interests and shifting global trade dynamics it addedIndiaCanada CEPA offers a chance to develop a relationship that has traditionally been underused compared to its potential the media house said lauding the highlevel interactions between the leaders of the two countries as having contributed to increased momentum in bilateral tiesCurrently annual bilateral trade stands at around 32 billion with goods at roughly 13 billion and services near 19 billionIndias exports to Canada have gradually expanded beyond traditional sectors such as pharmaceuticals textiles and gems and jewellery to include engineering goods machinery electronics chemicals and automobilesEnergy cooperation is likely to become a key pillar of the economic partnership as Canada has substantial reserves of liquefied natural gas LNG and other energy resources Indias growing industry requires secure and diverse energy supplies creating a mutually beneficial relationCanadas expertise in clean energy innovation combined with Indias largescale renewable energy expansion programs could create significant opportunities for joint investments and technology partnerships the report saidIANS https://dailyworld.in/business/india-canada-cepa-to-provide-huge-growth-boost-due-to-complementary-nature-of-economies-668299.html Tue, 07 Apr 2026 14:38:00 +0530 https://dailyworld.in/business/indias-gdp-growth-expected-at-62-pc-despite-geopolitical-conflict-morgan-stanley-668302.html New Delhi April 7 Global geopolitical tensions are beginning to weigh on Indiaâs economic outlook but the country is still expected to maintain steady growth as GDP growth expected at 62 per cent for FY2027 a report said on Tuesday The data compiled by Morgan Stanley projected Indiaâs growth even as rising energy costs supply disruptions and external pressures pose fresh challengesHowever it is lower than earlier estimates of 65 per cent the report stated The downgrade reflected the impact of higher crude oil prices which are assumed to average around 95 per barrelCostlier energy imports are increasing production expenses for businesses and contributing to inflation while also putting pressure on the Indian rupee the report saidEconomic growth is expected to weaken further in the short term potentially reaching a low of 59 per cent yearonyear YoY in the June 2026 quarterThis slowdown is likely to be driven by softer industrial activity tighter financial conditions and shrinking profit marginsHowever growth may gradually recover as supply conditions improve and government support measures take effect as per the reportInflation is also expected to rise with average consumer price inflation projected at 51 per cent in FY2027Higher input costs currency weakness and firm food and goods prices are expected to keep inflation elevated the report statedIf oil prices climb above 110 per barrel there could be further pressure including possible increases in retail fuel prices and broader inflationary effectsIndiaâs external position is also likely to come under strain The current account deficit is projected to widen to 25 per cent of GDP compared to about 1 per cent earlierThis is largely due to higher oil import bills With capital inflows not keeping pace the balance of payments could remain in deficit for a third consecutive year increasing pressure on the rupee the report mentionedTo manage the situation policymakers are expected to rely initially on fiscal measures such as higher subsidies and steps to control costs which could push the fiscal deficit to around 43 per cent of GDP IANS https://dailyworld.in/business/indias-gdp-growth-expected-at-62-pc-despite-geopolitical-conflict-morgan-stanley-668302.html Tue, 07 Apr 2026 14:39:00 +0530 https://dailyworld.in/business/sensex-jumps-over-500-points-ahead-of-rbi-mpc-decision-668325.html Mumbai April 7 IANS Indian equity markets extended their winning streak for a fourth straight session supported by late buying interest that lifted benchmark indices higher by the closenbspThe Nifty ended the day up 068 per cent gaining 15540 points to settle at 2312365 Meanwhile the Sensex rose 069 per cent or 50773 points to close at 7461658Going ahead continuation of this momentum may push the index towards the 2350023600 resistance band which remains a critical hurdle due to heavy OI concentration and previous swing high an analyst statedOn the downside 23000 now acts as immediate support followed by 22800 while the 2250022600 zone continues to remain a strong base backed by demand and put OI buildup a market expert mentionedBuying momentum picked up towards the end of the session helping the indices maintain positive territory despite cautious sentiment earlier in the dayGains were led by IT and metal stocks with companies like Wipro Hindalco Industries Tata Consultancy Services and HCLTech emerging as the top performers on the NiftyInvestors remained watchful ahead of the outcome of the Reserve Bank of Indias Monetary Policy Committee meeting which is scheduled to be announced on WednesdayThe central bank is widely expected to keep the repo rate unchanged but market participants are closely tracking its commentary for signals on the future policy pathIn the broader market performance was mixed The Nifty MidCap index ended marginally higher by 020 per cent while the Nifty SmallCap index slipped slightly closing 006 per cent lowerAmong sectoral indices IT realty and metal stocks outperformed reflecting sectorspecific buying interestOn the other hand the PSU banking space saw selling pressure with the Nifty PSU Bank index emerging as the biggest laggard of the sessionAnalysts said that the market mood remained cautiously optimistic with investors balancing global uncertainties and domestic policy expectationsThe rebound from lower levels indicates that the market continues to find support near key zones but the nature of the move suggests it was more tactical than structural an analyst stated IANSnbsp https://dailyworld.in/business/sensex-jumps-over-500-points-ahead-of-rbi-mpc-decision-668325.html Tue, 07 Apr 2026 16:33:00 +0530 https://dailyworld.in/business/pakistan-in-a-fix-as-deadline-for-repaying-35-billion-uae-debt-nears-668327.html New Delhi April 7 Debtridden Pakistan is facing a grim financial situation as it has to repay 35 billion to the United Arab Emirates this month The repayment confirmed by a senior cabinet minister during a press briefing as reported by Pakistanâs Express Tribune comes at a time when Islamabadâs foreign exchange reserves have fallen to abysmally low levels raising concerns about the countryâs capacity to fulfil its external debt obligationsThis financial burden has been intensified by the United Arab Emiratesâ reported decision not to extend further rollovers on the debt For years Pakistan has relied on such rollovers from friendly nations to ease immediate repayment pressures and stabilise its reserves However shifting geopolitical dynamics particularly tensions linked to the ongoing USIsraelIran conflict appear to have influenced Abu Dhabiâs stance accelerating Islamabadâs need to settle its obligations according to an article in Sri Lankaâs Guardian newspaperThe implications for Pakistanâs economy are significant Foreign exchange reserves already stretched thin will take a direct hit as funds are redirected toward debt servicing Economists warn that this could weaken the countryâs capacity to manage its external accounts potentially affecting its ability to pay for imports and maintain currency stability Such pressures come at a delicate time as Pakistan continues to navigate a challenging economic recovery under the framework of an International Monetary Fund program the article pointed outIn recent years the financial relationship between Pakistan and the UAE has been marked by both cooperation and tension In 2018 Abu Dhabi provided 2 billion to support Pakistanâs economy followed by an additional request from Islamabad for 1 billion in 2023 to meet external financing needs These arrangements were part of a broader pattern in which Pakistan has leaned heavily on bilateral partners to bridge funding gaps while implementing economic reforms tied to international lending programsNow with rollover options narrowing Pakistan is exploring alternative approaches Some officials have indicated that discussions are underway to convert portions of the debt into investment a move that could ease immediate repayment pressures while fostering longerterm economic engagement However such arrangements remain uncertain and may not provide timely relief given the urgency of current obligations the article observedGeopolitical factors are also shaping the situation Pakistanâs perceived proximity to Iran during the ongoing regional conflict has added complexity to its relations with Gulf partners including the UAE While Islamabad has traditionally balanced its ties across the Middle East shifting alliances and heightened tensions are testing that equilibrium with potential economic consequences the article pointed outThe broader context of Pakistanâs financial position further amplifies the challenge The countryâs reliance on external financing including support from the International Monetary Fund and allied nations reflects structural weaknesses in its economy such as low export competitiveness high fiscal deficits and limited revenue generation These issues have made Pakistan particularly vulnerable to external shocks whether economic or geopolitical the article added IANS https://dailyworld.in/business/pakistan-in-a-fix-as-deadline-for-repaying-35-billion-uae-debt-nears-668327.html Tue, 07 Apr 2026 16:48:00 +0530 https://dailyworld.in/business/food-pli-scheme-attracts-rs-9-207-crore-investment-creates-329-lakh-jobs-668330.html New Delhi April 7 The ProductionLinked Incentive PLI Scheme for the food processing industry has attracted investments of Rs 9207 crore and generated around 329 lakh jobs so far the government said on Tuesday Launched by the Ministry of Food Processing Industries the scheme is being implemented over six years from FY 202122 to FY 202627 with a total outlay of Rs 10900 croreIt aims to increase value addition expand processing capacity and generate employment particularly in rural and offfarm sectorsThe scheme covers key segments such as readytocook and readytoeat RTCRTE foods processed fruits and vegetables marine products and mozzarella cheese It also supports innovative and organic products from MSMEs along with branding and marketing initiatives to strengthen the global presence of Indian food productsA total of 128 companies have been approved under the scheme covering 274 units across the country with strong participation from the MSME sector As many as 68 MSME applicants and 40 contract manufacturing units are part of the programmeThe government said the scheme has led to significant capacity creation technology upgradation and modernisation of food processing units across multiple statesInvestment under the scheme has exceeded initial commitments with cumulative investments reaching Rs 9207 crore against a committed Rs 7722 crore across 22 statesMoreover around 34 lakh metric tonnes per annum of processing and preservation capacity has been addedThe government also stated that sales of PLIsupported products have grown at a compound annual growth rate CAGR of 1058 per cent while exports have registered a CAGR of 741 per cent despite global challengesMilletbased products have seen a sharp rise under the scheme with sales increasing from Rs 34573 crore in FY23 to Rs 184525 crore in FY25 Procurement of millets has also surged significantly during the period IANS https://dailyworld.in/business/food-pli-scheme-attracts-rs-9-207-crore-investment-creates-329-lakh-jobs-668330.html Tue, 07 Apr 2026 16:51:00 +0530 https://dailyworld.in/business/lg-energy-solution-turns-to-operating-loss-in-q1-amid-mideast-crisis-668342.html Seoul April 7 LG Energy Solution Ltd South Koreas leading battery maker on Tuesday estimated it posted an operating loss in the first quarter apparently due to the fallout from the USIran war Operating loss came to 2078 billion won US1382 million in the JanuaryMarch period shifting from a profit of 3747 billion won a year earlier the company said in a regulatory filingSales decreased 25 percent to 655 trillion won Data for net earnings was unavailable reports Yonhap news agencyThe operating loss was 304 percent higher than the average estimate according to a survey by Yonhap Infomax the financial data firm of Yonhap News AgencyThe company will release its final earnings report laterWhile LG Energy Solution did not provide details of the preliminary earnings report industry watchers said the loss apparently came amid higher production costs triggered by the Middle East crisisThe companys initial expenditures on its North American energy storage system ESS battery production facilities may also have weighed on its performance they addedLG Energy Solution said it received a tax credit of 1898 billion won through the Advanced Manufacturing Production Credit AMPC under the US Inflation Reduction ActExcluding the AMPC the company recorded an operating loss of 3975 billion won in the first quarter the company saidEarlier LG Group Chairman Koo Kwangmo called for efforts to bolster the power infrastructure business to meet rising energy demand from the artificial intelligence AI industryKoo visited the headquarters of LG Energy Solution Vertech a wholly owned US arm of LG Energy Solution Ltd based in Massachusetts as the South Korean battery maker aims to expand its presence in the North American energy storage system ESS market according to LG IANS https://dailyworld.in/business/lg-energy-solution-turns-to-operating-loss-in-q1-amid-mideast-crisis-668342.html Tue, 07 Apr 2026 17:44:00 +0530 https://dailyworld.in/business/bank-of-baroda-rolls-out-multilingual-ai-platform-bob-samvad-across-22-languages-668344.html New Delhi April 7 Bank of Baroda on Tuesday rolled out âbob SAMVADâ an AIpowered multilingual conversational platform developed by the bank to enhance inbranch customer interactions The AI platform was formally launched by Department of Financial Services Secretary M Nagaraju in Mumbai on March 28 Terming it a step towards inclusive banking Nagaraju said the initiative will strengthen customer service delivery and set a new benchmark in the sector through the use of technologyMoreover the platform is designed to eliminate language barriers by enabling seamless communication between customers and bank staff in their preferred languagesDeveloped inhouse bob SAMVAD enables realtime lowlatency twoway communication across 22 languages allowing customers and staff to interact effortlessly even if they speak different languagesThe platform supports both text and voice modes enabling customers to speak or type queries in their preferred language which are instantly translated for branch staff ensuring accurate and efficient serviceSpeaking at the launch Debadatta Chand Managing Director and CEO of the bank said the initiative reflects the lenderâs focus on combining technology with customercentric design to make branches more inclusive and accessibleIn the first phase the platform will be rolled out across 250 branches in states including Tamil Nadu Karnataka Telangana Andhra Pradesh and Maharashtra followed by a wider deployment across the bankâs networkThe DFS Secretary also visited âbob Forestâ a sustainability initiative by the bank at its Mumbai office aimed at promoting biodiversity and cleaner air as part of its broader ESG effortsEarlier in February the Department of Financial Services under the Finance Ministry organised a twoday workshop at the Bank of Baroda Academy in Ahmedabad on the implementation of the governmentâs reservation policy in public sector banks insurance companies sectoral regulators and public financial institutions along with measures to enhance accessibility of financial services for Divyangjans persons with disabilities IANS https://dailyworld.in/business/bank-of-baroda-rolls-out-multilingual-ai-platform-bob-samvad-across-22-languages-668344.html Tue, 07 Apr 2026 17:49:00 +0530 https://dailyworld.in/business/centre-doubles-daily-supply-of-5-kg-lpg-cylinders-for-migrant-workers-668346.html New Delhi April 7 IANS The Centre announced on Tuesday that it has doubled the daily quantity of 5 kg LPG cylinders being provided to each state for disbursal to migrant labourersnbspThe supply of 5 kg LPG cylinders is being doubled based on the average daily supply to migrant labourers during March 23 2026 beyond the limit of 20 per cent mentioned in the letter dated March 21 These 5 kg cylinders will be at the disposal of the state government for supplying only to migrant labourers in their state with assistance of the public sector oil marketing companies the Ministry of Petroleum and Natural Gas said in a statementSince March 23 about 78 lakh 5kg free trade LPG cylinders have been sold More than 106 lakh 5 kg cylinders were sold across the country on Monday against a daily average of 77000 in the month of February the statement saidThe public sector oil companies have also organised around 1300 awareness camps for 5 kg cylinders during the last four days in which more than 10000 cylinders were soldThe overall LPG supply continues to be affected by the prevailing geopolitical situation but the supply of domestic LPG cylinders remains normal and no dryouts have been reported at distributorships the statement saidOnline LPG bookings have increased to about 96 per cent of the total while delivery authentication code DAC based deliveries have increased to around 90 per cent to prevent diversionTotal commercial LPG allocation has been increased to about 70 per cent of precrisis levels including the 10 per cent formlinked allocationAbout 86439 metric tonnes of commercial LPG equivalent to over 455 lakh 19 kg cylinders have been sold since March 14 while more than 34 lakh 19 kg cylinders were sold on MondayA threemember committee of Executive Directors from Indian Oil HPCL and BPCL is coordinating with state authorities and industry bodies to plan commercial LPG distributionMeanwhile enforcement actions continue across the country to curb hoarding and black marketing of LPG and more than 4300 raids were conducted and over 1200 cylinders were seized across the country on Monday the statement saidStates have also been advised to facilitate the new PNG connections for both domestic and commercial consumersAll refineries are operating at high capacity with adequate crude inventories in place The country is also maintaining sufficient stocks of petrol and diesel Domestic LPG production from refineries has been increased to support domestic consumption the statement saidThe Government is making all efforts to ensure the availability of petrol diesel and LPG and citizens are advised to avoid panic purchase of the fuels as well as unnecessary booking of LPG Citizens are requested to use digital modes for booking of LPG cylinders and avoid visiting LPG distributors unless necessary the statement saidThe statement also urged households to use alternative fuels such as PNG induction and electric cooktops wherever feasible In the current situation all citizens are requested to make necessary efforts to conserve energy in their daily usagePeople are also advised to beware of rumours and rely only on official sources for correct informationIANS https://dailyworld.in/business/centre-doubles-daily-supply-of-5-kg-lpg-cylinders-for-migrant-workers-668346.html Tue, 07 Apr 2026 18:41:00 +0530 https://dailyworld.in/business/sebi-grants-one-time-relief-on-ipo-timelines-amid-geopolitical-uncertainty-668355.html New Delhi April 7 IANS Indias market regulator Securities and Exchange Board of India SEBI on Tuesday announced a onetime relaxation for public issuances acknowledging that ongoing geopolitical tensions particularly in the Middle East have slowed fundraising activity and reduced investor participationnbspUnder existing regulations companies are required to launch their public issues within 12 to 18 months from the date SEBI issues its observations on their offer documentsHowever many firms have found it difficult to meet these timelines due to volatile market conditions and weaker investor sentimentIn a circular SEBI said it had received requests from industry bodies pointing to challenges in raising capitalSeveral companies have been forced to delay revise or even withdraw their fundraising plans amid uncertainty increasing the risk of regulatory approvals lapsing and forcing them to restart the processTo address these concerns SEBI has decided to extend the validity of observation letters that are set to expire between April 1 2026 and September 30 2026SEBI has received representation from the industry body on difficulties faced by the issuers in mobilising resources and accessing the capital market in the backdrop of ongoing geopolitical tensions in the Middle East the market regulator saidnbspThis has led to several issuers to defer recalibrate or withdraw issuance plans leading to potential lapses in observation letter validity and duplication of regulatory processes it addedConsidering the representation of the industry body the prevailing uncertain market conditions due to ongoing geopolitical tensions and subdued investor participation SEBI has decided to grant one time relaxation to extend validity of the SEBI observations letters the market regulator notedThese approvals will now remain valid until September 30 2026 giving companies additional time to tap the marketsThe relief however comes with conditions Companies must provide a written undertaking through their lead managers confirming that they continue to comply with disclosure requirementsThey are also required to submit updated offer documents reflecting any material changesThe move is expected to provide muchneeded flexibility to issuers and help them navigate uncertain market conditions without having to repeat lengthy regulatory procedures IANS https://dailyworld.in/business/sebi-grants-one-time-relief-on-ipo-timelines-amid-geopolitical-uncertainty-668355.html Tue, 07 Apr 2026 18:47:00 +0530 https://dailyworld.in/business/rbi-likely-to-hold-rates-inflation-could-rise-to-4548-pc-report-668363.html New Delhi April 7 IANS Indias headline CPI could rise to between 45 and 48 per cent from a base case of about 4 per cent and RBIs April policy is likely to keep rate changes on hold in a cautious tone a report said on TuesdaynbspThe report from Yes Bank said GDP growth is expected to moderate to about 7 per cent with downside risks if the USIran war persistsGrowth has remained resilient so far supported by domestic demand both private consumption demand and governments capital expenditure the bank saidInflationary risks stem from higher input costs for manufacturers a possible El Niño that could push up food prices higher fertiliser costs if passed on to farmersFurther a prolonged crisis may also force the government to increase retail prices of petrol and diesel the bank warnedRBI can remain on a pause to support growth as inflation will not threaten the 6 per cent barrier and will mostly be supply driven Generally a supply shock to inflation can be seen through if the HH inflation expectations do not rise significantly the bank saidDue to heightened uncertainty the bank said there is no burning hurry for the RBI to move to tighten monetary policy also as USDINR appears to be now settling into a narrow rangeThe report said that the rate cutting cycle is over as inflation trends higher INR depreciation pressure bites and global central banks signal caution on inflation and rate cycleHowever a rate hike is also not imminent as India stepped into the current crisis from an advantageous position of low inflationhigh growth it addedFiscal policy has moved in to share the burden by absorbing some of the oil price impact by keeping retail prices of petrol and diesel unaffectedIANS https://dailyworld.in/business/rbi-likely-to-hold-rates-inflation-could-rise-to-4548-pc-report-668363.html Tue, 07 Apr 2026 19:13:00 +0530 https://dailyworld.in/business/indias-strong-fiscal-position-gives-rbi-more-policy-space-fm-sitharaman-668196.html New Delhi April 6 IANS Indias strong fiscal position and robust foreign exchange reserves provide the Reserve Bank of India with more policy flexibility Finance Minister Nirmala Sitharaman said on MondaynbspAddressing the golden jubilee celebrations of the National Institute of Public Finance and Policy the Finance Minister said India has fiscal space with room to maintain the governments capex programme room for the RBI to cut rates and room to offer targeted support to affected sectors This is the dividend of a decade of fiscal discipline that is paying dividendsHer statement comes ahead of the monetary policy review to be announced by the RBI on WednesdaySitharaman also highlighted that Indias debttoGDP ratio remains among the lowest globally with the International Monetary Fund projecting a further decline by 2030 The foreign exchange reserves are sufficient to finance the countrys imports for as many as 11 months which provides a cushion against external shocks she addedShe said that prudent fiscal management has enabled the government to roll out measures such as excise duty cuts on petrol and diesel to cushion consumers from soaring prices of petroleum products triggered by the Iran war Besides targeted exemptions for critical petrochemical products and SEZ operations in the domestic tariff area have been made to protect jobs amid uncertainties in global marketsThe Finance Minister said that the West Asia conflict has emerged as a systemic tremor adding to a world marked by volatility uncertainty and ambiguity Rising crude prices and currency pressures could complicate the inflation outlook making policy calibration more challenging she addedThe RBIs monetary policy committee has kicked off its review meeting on Monday and will deliberate over the monetary policy steps that are to be announced on Wednesday Economists expect the RBI to remain on pause on key interest rates as inflation risks are elevated due to the fallout of the Iran war which has triggered a sharp rise in the prices of petroleum products fertilisers and petrochemicalsLast month the government in consultation with the RBI announced its borrowing programme for the first half of the next financial year with plans to raise Rs 82 lakh crore in six months That marks around 51 per cent of the fullyear budgeted borrowingAs per the official borrowing calendar the annual gross borrowing has been reduced to Rs 1609 lakh crore from an earlier estimate of Rs 172 lakh crore This phasing out of the borrowing programme is expected to leave sufficient liquidity in the banking system to enable businesses to continue with their investments and create jobs in the economyIANS https://dailyworld.in/business/indias-strong-fiscal-position-gives-rbi-more-policy-space-fm-sitharaman-668196.html Mon, 06 Apr 2026 20:29:00 +0530 https://dailyworld.in/business/crude-oil-prices-climb-over-3-pc-to-near-52-week-high-amid-geopolitical-tensions-668074.html New Delhi April 6 International crude oil prices traded higher on Monday as persistent fears of supply disruptions in West Asia kept markets on edge with the ongoing USIsraelIran conflict weighing on sentiment Brent crude futures rose as much as 201 per cent or 22 to 11123 per barrel hovering near a 52week high Similarly US West Texas Intermediate WTI crude gained 353 per cent or about 4 to 11548 by 1020 amOn the domestic front crude oil futures on the Multi Commodity Exchange MCX May 18 contract were trading at Rs 9276 up 09 per cent or Rs 83 The contract touched an intraday high of Rs 9335 rising 154 per cent or Rs 142The surge follows a sharp rally in the previous session when WTI surged over 11 per cent and Brent climbed nearly 8 per cent â their biggest singleday gains since 2020 â amid escalating geopolitical tensionsAnalysts said crude oil continues to remain a key driver for markets with prices holding firm amid ongoing supply concernsGlobally US crude is trading near the 110â112 range close to a key resistance zone According to them a breakout above 115 could trigger a rally towards 118â120 levelsOn the downside a fall below 109 may lead to a correction towards 106 with strong support placed around 100â102 The overall trend remains bullish as long as these support levels hold they addedTensions intensified after US President Donald Trump warned of severe consequences if Iran fails to reopen the Strait of Hormuz by his Tuesday deadline raising concerns over potential disruptions to global oil suppliesOPEC has agreed to increase output by 206000 barrels per day in May However the move is unlikely to significantly ease supply concerns in the near termMeanwhile domestic equity markets traded in the red with the Sensex falling 529 points or 072 per cent to 72790 hitting an intraday low and Nifty declining 150 points or 066 per cent to 22561 logging an intraday low in early trade IANS https://dailyworld.in/business/crude-oil-prices-climb-over-3-pc-to-near-52-week-high-amid-geopolitical-tensions-668074.html Mon, 06 Apr 2026 11:07:00 +0530 https://dailyworld.in/business/indian-rupee-opens-10-paise-higher-at-93-against-us-dollar-668111.html New Delhi April 6 The Indian rupee opened 10 paise higher at 93 against the US dollar on Monday as traders continued to unwind speculative positions in the offshore nondeliverable forwards NDF market The domestic currency was trading at 93 per dollar in early trade compared to its previous close of 9310 Currency and fixed income markets remained closed on April 3 on account of Good FridayThe rupee has gained around 2 per cent over the past week following the Reserve Bank of Indiaâs RBI measures to curb volatility and crack down on excessive speculation in offshore marketsThe central bankâs recent directives among the strictest in over a decade have prompted banks to unwind arbitrage positions impacting the multibilliondollar offshore marketTraders are also closely watching Brent crude prices and foreign institutional investor FII flows both of which continue to weigh on sentimentAttention will now shift to the RBIâs Monetary Policy Committee MPC meeting which began on Monday and will conclude on April 8 Economists largely expect the central bank to keep interest rates unchangedAnalysts said the dollarrupee pair is currently trading in the 9280â93 range after cooling from recent highs near 9480 supported by the RBI interventionA move above 93 could push the pair towards the 9350â9380 zone while immediate support is seen at 9260â9240 The nearterm trend remains slightly positive though direction will depend on dollar strength and global risk sentiment according to analystsOn the global front market participants are tracking crude oil prices amid rising geopolitical tensions after US President Donald Trump set a deadline for Iran to reopen the Strait of Hormuz raising concerns over supply disruptionsThe strategic shipping route which handles over 20 per cent of global crude flows has remained largely closed since late February following the escalation in conflictBrent crude was trading around 110 per barrel up nearly 1 per cent from the previous sessionMeanwhile domestic equity benchmarks were trading in the red with the Sensex falling 529 points or 072 per cent to 72790 while the Nifty declined 150 points or 066 per cent to 22561 in early trade IANS https://dailyworld.in/business/indian-rupee-opens-10-paise-higher-at-93-against-us-dollar-668111.html Mon, 06 Apr 2026 12:37:00 +0530 https://dailyworld.in/business/commercial-lpg-supply-recovers-to-70-pc-amid-disruptions-indian-oil-corporation-668130.html New Delhi April 6 IANS Staterun oil marketing company Indian Oil Corporation Ltd IOCL on Monday said commercial LPG supply has recovered to around 70 per cent of precrisis levels amid ongoing geopolitical disruptionsnbspThe PSU firm further noted that it continues to work towards maintaining reliable and efficient energy access aiming to support both households and businesses during the current period of uncertaintyMeanwhile the Ministry of Petroleum and Natural Gas has said that online LPG bookings have surged to 95 per cent while no instances of stock depletion have been reported at distributorshipsOver 51 lakh domestic cylinders were delivered on April 4 alone according to the governmentTo streamline distribution and prevent diversion Delivery Authentication Code DACbased deliveries have risen sharply to 90 per cent from 53 per cent in February before supply disruptions linked to the Iran conflictConsumers have been advised to use digital modes for booking LPG cylinders and avoid visiting distributors unless necessaryDemand for smaller cylinders has also increased with sales of 5 kg LPG cylinders crossing 90000 on Saturday Since March 23 around 66 lakh such cylinders have been sold These are available at nearby distributorships and can be purchased with a valid ID proof without requiring address verificationThe government said all refineries are operating at high capacity with adequate crude inventories in place and sufficient stocks of petrol and diesel available across the country Domestic LPG production has also been ramped up to support consumptionAuthorities reiterated that there is no shortage of fuel and urged citizens to avoid panic buying or unnecessary LPG bookingsIOCL also added that it remains focused on ensuring consistent fuel availability with priority being given to critical sectors such as hospitals pharmaceuticals and educational institutionsIANS https://dailyworld.in/business/commercial-lpg-supply-recovers-to-70-pc-amid-disruptions-indian-oil-corporation-668130.html Mon, 06 Apr 2026 13:43:00 +0530 https://dailyworld.in/business/rbi-mpc-meet-begins-status-quo-on-policy-rate-likely-amid-west-asia-tensions-668132.html New Delhi April 6 IANS The Reserve Bank of Indias threeday Monetary Policy Committee MPC meeting began on Monday with analysts widely expecting the central bank to keep the repo rate unchanged amid heightened uncertainty due to the West Asia conflictnbspThe meeting scheduled from April 6 to April 8 comes at a time when rising crude oil prices and global geopolitical tensions have clouded the inflation outlookWhile the RBI is likely to maintain the status quo in the upcoming policy experts said the central banks commentary on inflation growth and future rate trajectory will be closely watchedWe do not expect any immediate liquidity or currency management measures as the RBI has been acting as and when required said Madan Sabnavis Chief Economist at Bank of BarodaAnalysts noted that the focus will be on the RBIs revised GDP growth and inflation projections especially as Brent crude hovered around 100 per barrel in March due to the ongoing energy shockSome experts cautioned that while the rate cut cycle appears to have ended the possibility of a rate hike later in the fiscal year cannot be ruled out if inflation breaches the upper tolerance band of 6 per centAccording to HSBC Global Investment Research the policy will be largely about communication to address concerns arising from the oil price surge Despite the current shock the investment banks economists said they do not expect rate hikes in the near term as the RBI is likely to focus on the oneyear ahead inflation trajectory which may remain relatively benignMeanwhile a report by SBI Research said the central bank may need to explore tools such as Operation Twist to manage yields and maintain stability in financial markets while also addressing external sector pressuresIndia is not insulated from the current crisis with the rupee weakening and crude oil prices staying elevated leading to imported inflation pressures said Soumya Kanti Ghosh Group Chief Economic Adviser at State Bank of IndiaHe added that liquidity conditions may need to be carefully managed to support the rupee amid ongoing volatilityThe central bank has been active on the liquidity front in recent months conducting Open Market Operations OMO purchases of government securities and Variable Rate Repo VRR auctions to inject rupees into the banking systemThe RBI cut rates by a cumulative 25 basis points to 525 per cent in December 2025 a stimulus that most economists now believe has run its courseIANS https://dailyworld.in/business/rbi-mpc-meet-begins-status-quo-on-policy-rate-likely-amid-west-asia-tensions-668132.html Mon, 06 Apr 2026 13:50:00 +0530 https://dailyworld.in/business/surge-in-crude-oil-prices-may-dent-nifty-earnings-report-668133.html New Delhi April 6 Elevated global crude oil prices above 90 per barrel could begin to significantly weigh on earnings of Nifty companies a report has said According to Bernstein analysts estimates for every 10 per barrel increase beyond 90 Nifty earnings may decline by 23 per cent with the impact worsening sharply at higher price levels While crude has a limited direct linkage to the index its broader macro impact including inflation currency depreciation and policy responses becomes more pronounced at elevated levels it notedBernstein said within the 6090 per barrel range the effect on earnings remains gradual with longterm earnings growth potentially slowing from 1011 per cent to around 7 per centHowever once crude moves beyond 90 the pressure intensifies as rising inflation begins to erode consumption and savings particularly impacting consumeroriented sectorsHigher oil prices also weaken the rupee increasing costs for importdependent industries such as pharmaceuticals cement and chemicals while rising logistics expenses further compress margins across sectorsAt higher crude levels the earnings drag accelerates with nearly 4 per cent downside for every 10 increase beyond 90 At 120125 per barrel the impact could be severe enough to significantly erode overall earnings the report saidSectorwise financials which contribute nearly half of Nifty earnings are relatively insulated and could even benefit from a higher interest rate environment IT companies may see limited gains from a weaker rupeeIn contrast consumer sectors and importreliant industries are expected to bear the brunt of rising costs and demand slowdown Within the energy space upstream companies may benefit from higher crude prices while oil marketing firms could face margin pressuresOverall the report said sustained spikes in crude oil prices pose a key downside risk to earnings particularly if they remain above the 90 per barrel thresholdBrent crude futures advanced as much as 2 per cent or 22 to 11123 per barrel hovering near a 52week high while the US West Texas Intermediate WTI crude jumped 353 per cent or about 4 to 11548On Monday domestic headline indices showed negative performance with Sensex plunging more than 500 points or 072 per cent to 72790 hitting an intraday low and Nifty declining 150 points or 066 per cent to 22561 logging an intraday low IANS https://dailyworld.in/business/surge-in-crude-oil-prices-may-dent-nifty-earnings-report-668133.html Mon, 06 Apr 2026 13:50:00 +0530 https://dailyworld.in/business/mesabi-metallics-secures-150-million-dollar-from-macquarie-group-668135.html Nashwauk MN United States April 6 Mesabi Metallics Company LLC Mesabi Metallics backed by Essar Group on Monday announced that it has secured 150 million of financing from Macquarie Group supporting the Q3 2026 startup of its worldscale Direct Reduction DR grade iron ore mine and pellet plant in Nashwauk Minnesota The latest financing builds on recent capital momentum for the structurally important American iron ore projectThe financing follows Mesabiâs recently announced 520 million senior secured credit facility with Breakwall Capital further reinforcing the strong momentum behind the projectMesabi has also recently received support from the US ExportImport Bank EXIM reflecting the projectâs growing strategic importance to US manufacturing infrastructure automotive shipbuilding and defenseMesabi Metallics is building a strategically important new American source of DRgrade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materialsLocated on more than 16000 acres in Northern Minnesota Mesabi Metallics is completing a 25 billion worldscale merchant DRgrade iron ore mine and pellet plant that will supply the next generation electric arc furnaces of American steelmaking the cleanest and most energy efficient way of making highquality steelWith more than 800 construction workers currently onsite the project is one of the largest private sector industrial investments in Minnesotaâs history Essar Group has already invested more than 2 billion of equity into the projectâThis financing from Macquarie marks another major step forward for Mesabi Metallics and builds on the strong momentum we have established with our recently announced financial partnershipsâ said Joe Broking President and CEO of Mesabi MetallicsâTogether these transactions reflect growing confidence in the quality scale and strategic importance of our project as we build a new American source of DRgrade iron ore to strengthen domestic steel supply chains and reduce dependence on importsâ Broking addedâMacquarie has enjoyed a longstanding financing relationship with Essar Group and we are pleased to extend that relationship to their metals and mining investments in the USâ said Mike Burns Senior Managing Director in Macquarie Groupâs Commodities and Global Markets businessâMesabi is developing a highquality and strategically important project for the US steel sector and we look forward to supporting the company over the long termâ Burns added IANS https://dailyworld.in/business/mesabi-metallics-secures-150-million-dollar-from-macquarie-group-668135.html Mon, 06 Apr 2026 13:57:00 +0530 https://dailyworld.in/business/indias-annual-fish-production-doubles-over-10-years-668147.html New Delhi April 6 Indiaâs fish production has more than doubled over 10 years to 19775 lakh tonnes in 202425 from 9579 lakh tonnes in 201314 making it the second largest producer of marine products in the world according to a factsheet put out by the Central government on Monday Collectively fisheriesrelated schemes implemented since 201415 have generated an estimated 7466 lakh direct and indirect employment opportunities underscoring the sectorâs expanding role in inclusive and sustainable economic growth the official statement saidConcurrently seafood exports expanded significantly reaching Rs 62408 crore in FY 202425 Frozen shrimp remains the dominant export commodity with the US and China serving as key markets highlighting the sectorâs expanding scale and growing global competitivenessIndia now accounts for around 8 per cent of global fish output and with the Union Budget 202627 earmarking the highestever total annual support of Rs 276180 crore for the sector the countryâs fish production is poised to accelerate furtherOf this total outlay Rs 2530 crore is earmarked for implementation through targeted government schemes including financial assistance capital subsidies insurance coverage capacitybuilding initiatives infrastructure development and welfare support mechanisms designed to directly benefit fishers and fish farmersPMMSY launched in 2020 continues to be the central pillar of fisheries development with an allocation of Rs 2500 crore in 202627 The comprehensive scheme focuses on production enhancement infrastructure and value chain development Furthermore the Modern Aquaculture push under PMMSY 202122 and Pradhan Mantri Matsya Kisan Samridhi SahYojana PMMKSSY 2023â24 emphasised formalisation insurance and financial inclusionThe Kisan Credit Card KCC for fisheries has also improved access to institutional credit with benefits under the scheme reaching 439 lakh fishers Insurance coverage has been extended to 33 million beneficiaries and livelihood support has benefited about 744 lakh fisher familiesThe fisheries sector is a critical contributor to Indiaâs economy supporting the livelihoods of nearly three crore people particularly among marginalised coastal and inland communitiesReflecting its growing structural significance in the economy fisheries account for nearly 743 per cent of Agricultural Gross Value Added GVA the highest share among the agriculture and allied sectors This growing prominence is further reinforced by sustained policy prioritisationSince the launch of the Blue Revolution in 2015 the sector has transitioned from traditional practices toward a more organised technologydriven and valuechainoriented framework aligned with the Sustainable Development Goals SDGs Policy interventions have prioritised integrated value chain development across the marine inland and aquaculture segments Investments in fishing harbours landing centres coldchain logistics processing infrastructure deepsea vessels and advanced aquaculture systems have strengthened export competitiveness and value additionAs per the Economic Survey 202526 collective institutions have been strengthened through the formation of 2195 Fisheries Farmer Producer Organisations FFPOs supported by an investment of Rs 544 crore to improve market access and financial inclusionAdditionally as of January 2026 nutritional and livelihood support during fishing ban and lean periods benefiting approximately 433 lakh fisher families with an outlay of Rs 168121 crore has reinforced income stability and social protection IANS https://dailyworld.in/business/indias-annual-fish-production-doubles-over-10-years-668147.html Mon, 06 Apr 2026 14:39:00 +0530 https://dailyworld.in/business/rbi-policy-us-iran-tensions-and-oil-spike-likely-to-drive-stock-market-next-week-667961.html Mumbai April 5 Indian stock markets ended their sixth consecutive week lower with benchmark indices slipping nearly 05 per cent amid heightened volatility triggered by a mix of global uncertainties and domestic concerns Investors are now bracing for another eventful week where the Reserve Bank of Indiaâs policy decision escalating geopolitical tensions and surging crude oil prices are expected to dictate market directionThe holidayshortened week began on a weak footing as rising tensions between the United States and Iran coupled with a sharp spike in crude oil prices dented investor sentiment and led to broadbased sellingHowever markets staged a midweek recovery as fears of an immediate escalation eased and oil prices showed some signs of coolingDespite the rebound volatility remained elevated due to inconsistent global cues persistent foreign institutional investor outflows concerns over inflation and a weakening rupeeBy the end of the week the Nifty settled at 2271310 while the Sensex closed at 7331955Commenting on Nifty technical outlook experts said that from a technical standpoint the 22150â21900 zone is likely to act as a key support areaâOn the upside resistance is seen in the 2300023500 range The Relative Strength Index RSI on the weekly timeframe stands at 2788â an analyst statedLooking ahead all eyes will be on the upcoming monetary policy decision by the Reserve Bank of IndiaThe Monetary Policy Committee MPC is scheduled to meet from April 6 to April 8 for its first session of FY27Geopolitical developments will also remain a key overhang The ongoing conflict between the United States and Iran appears to be intensifying with reports of military escalation and strong warnings issued by Donald TrumpAny further deterioration in the situation could significantly impact global risk sentiment and trigger fresh volatility in equitiesCrude oil prices already on a sharp upward trajectory will be another crucial factor Brent crude has surged to around 109 per barrel following disruptions in the Strait of Hormuz a vital artery for global energy suppliesThe spike which marks a more than 50 per cent increase since late February has raised concerns about inflationary pressures and input costs for Indian companies IANS https://dailyworld.in/business/rbi-policy-us-iran-tensions-and-oil-spike-likely-to-drive-stock-market-next-week-667961.html Sun, 05 Apr 2026 11:59:00 +0530 https://dailyworld.in/business/india-emerges-as-global-stable-core-amid-market-turmoil-667971.html New Delhi April 5 India is increasingly emerging as a new stable core in a volatile global environment even as geopolitical tensions and energy shocks continue to rattle financial markets according to the latest monthly note by Quant Mutual Fund The fund house led by Sandeep Tandon highlighted that recent military actions involving the United States and Israel against Iran triggered a broadbased correction in global equities Key indices such as the SampP 500 Nifty 50 Nikkei 225 and KOSPI witnessed declines while bond yields moved higher and commodities turned volatile The note added that the VIX Index often referred to as a fear gauge surged over 75 per cent earlier in the month reflecting heightened uncertainty among investorsDespite the global turbulence Quant Mutual Fund pointed to stress in domestic markets as a possible inflection point rather than a sign of deeper trouble The fund house observed signs of âcapitulationâ in Indian equities suggesting that the worst phase of the correction may be behind It emphasised that elevated volatility should not be mistaken for market dysfunction but rather seen as part of a natural adjustment processMaintaining a constructive outlook on India the fund house noted that the countryâs nominal GDP is growing at nearly twice the pace of Chinaâs reinforcing its position as a preferred global investment destination It expects the earnings cycle to improve in the coming quarters supported by ongoing reforms and macroeconomic stabilityReflecting this optimism the fund house has increased its equity deployment taking advantage of attractive valuations after maintaining higher cash levels in the previous month Its portfolio remains largely tilted towards largecap stocks with selective additions in mid and smallcap segmentsOn the sectoral front Quant Mutual Fund remains positive on energy large infrastructure NBFCs insurance asset management companies private sector banks hotels pharmaceuticals telecom and consumptiondriven themes such as FMCG and food processing However it has maintained an underweight stance on manufacturing citing uncertainties related to input costs and supply chain disruptionsLooking ahead the fund house believes the current phase of volatility could evolve into one of the most significant buying opportunities since the COVID19 pandemic It advised investors to closely track extremes in market sentiment to identify opportunities and rebalance their portfolios accordingly IANS https://dailyworld.in/business/india-emerges-as-global-stable-core-amid-market-turmoil-667971.html Sun, 05 Apr 2026 12:39:00 +0530 https://dailyworld.in/business/nh44-in-bengaluru-is-shoddily-designed-and-ill-maintained-kiran-mazumdar-shaw-667972.html New Delhi April 5 Kiran MazumdarShaw Executive Chairperson of Biocon Limited on Sunday raised concerns over the condition of NH44 the key IT corridor connecting the city to Hosur In a social media post on platform X she criticised the National Highways Authority of India NHAI for what she described as poor design and maintenance along the stretchMazumdarShaw highlighted that the medians and barricades along the highway are âterribleâ while the shoulders remain unpaved creating an âeyesoreâ for commutersShe questioned whether NHAI considers this section as part of its reputed track record of road infrastructure development across the countryâWhilst NHAI boasts of its road infrastructure across the country why is the countryâs key IT corridor NH44 formerly NH7 viz Hosur Road so shoddily designed and ill maintainedâ she wrote on X âItâs an eyesore the medians and barricades are terrible and the shoulders are not asphaltedâ Shaw notedDespite several complaints over the years she pointed out the issue has seen no response from the authorities directly tagging Union Road Transport Minister Nitin Gadkari and NHAIâs official social media handleâDespite several complaints over several years there is no response Is this what NHAI considers its proud track recordâ she mentionedMeanwhile the countryâs leading women industrialist last year raised serious concerns over garbage emerging as a serious malaise in the country particularly in big metropolitan cities like Delhi Mumbai Bengaluru and othersIn a post on X in October last year she also slammed the respective municipalities of these cities as well as state governments for their gross ignorance and negligence of the issue which has been reaching alarming levels lately and posing a serious threat to the wellbeing of citizens IANS https://dailyworld.in/business/nh44-in-bengaluru-is-shoddily-designed-and-ill-maintained-kiran-mazumdar-shaw-667972.html Sun, 05 Apr 2026 13:08:00 +0530 https://dailyworld.in/business/ipo-filings-surge-in-march-as-38-firms-file-drhps-with-sebi-667978.html Mumbai April 5 Indiaâs primary market activity picked up sharply in March 2026 with as many as 38 companies filing preliminary IPO papers with the Securities and Exchange Board of India SEBI The number marks a significant increase compared with 22 filings in March 2025 and 16 in March 2024 SEBI data showed pointing to a strengthening pipeline of public issuesMarket participants attributed the spike to a mix of rising confidence among issuers and the strategic timing of filings to align with regulatory approval windowsThe momentum is expected to sustain in the coming weeks with several highprofile companies preparing to submit their draft papersOut of the 38 firms that filed draft red herring prospectuses DRHPs in March nine companies chose the confidential filing routeAn Axis Capital report highlighted the depth of the IPO pipeline noting that 64 companies are currently awaiting SEBI clearance while 124 firms have already secured regulatory approval but are yet to launch their public issuesAdditionally 20 companies have opted for confidential DRHP filings since March 2025The broader IPO landscape has remained active over the past financial year In FY202526 a total of 109 mainboard IPOs were launched of which 69 listed above their issue priceThree companies however were yet to debut on the exchanges as of March 31 2026So far in 2026 18 companies have launched IPOs with eight offerings hitting the market in March alone despite volatile conditions and geopolitical tensionsExperts suggest that while regulatory timelines often influence filing patterns toward the end of the financial year the current surge cannot be attributed to that factor aloneThe scale of filings in March was particularly striking with more than a dozen companies submitting their DRHPs in the final two days of the financial yearAnalysts believe this coupled with the improving quality of companies entering the pipeline signals strengthening sentiment in the primary market IANS https://dailyworld.in/business/ipo-filings-surge-in-march-as-38-firms-file-drhps-with-sebi-667978.html Sun, 05 Apr 2026 13:46:00 +0530 https://dailyworld.in/business/indias-role-seen-as-vital-to-bolster-bangladesh-nepal-economic-ties-667988.html New Delhi April 5 Nepals first billionaire Binod K Chaudhary has said that Bangladesh and Nepal could strengthen economic ties in energy and crossborder trade with closer regional cooperation involving India We would like to enter into a much bigger economic engagement with Bangladesh but without India playing a positive role thats not going to happen Chaudhary said on Saturday at a press conference organised by the International Chamber of Commerce Bangladesh ICCB in Dhaka according to a report in The Daily StarChaudhary pointed to Nepals growing hydropower capacity as a concrete opportunity saying the South Asian country could develop projects specifically targeting the Bangladeshi market with India facilitating transmissionIndias evolving stance on crossborder energy cooperation offers a window for such initiatives This becomes necessary due to geography As Nepal is a landlocked country trade of this nature depends largely on Indias cooperation he notedBinod Chaudhary controls Nepals CG Corp Global The businessman made it to the Forbes billionaire list in 2013 Forbes estimates his current net worth at 21 billionAlso speaking at the event Abdul Awal Mintoo Bangladeshs Environment Forest and Climate Change Minister referred to classical economic theory to stress the value of neighbouring marketsHe cautioned that reliance on natural resources alone cannot be a sustainable path to growth noting that many resourcerich countries had struggled while tradedriven economies had fared betterThe Minister also said strengthening economic ties with adjacent countries should take precedence over distant partnerships when it comes to boosting trade and longterm growthPolitical considerations should not be allowed to override the economic logic of regional integration he addedThe Minister said enhanced connectivity energy collaboration and trade integration among South Asian nations could unlock substantial economic opportunities provided countries prioritise pragmatic partnerships over political constraintsNepalese Ambassador to Bangladesh Ghanshyam Bhandari said the two countries share similar economic challenges and aspirations making cooperation in trade and investment both natural and necessaryThe longstanding bilateral relationship he added is rooted in geographic and economic interdependence symbolically linked by rivers flowing from the Himalayas to the Bay of BengalHe identified stronger engagement between the business communities of the two countries as the practical vehicle for expanding bilateral tradeThe Ambassador said Nepal and Bangladesh have the opportunity to define their own economic trajectory through closer regional cooperation with trade acting as the central pillar of that engagement IANS https://dailyworld.in/business/indias-role-seen-as-vital-to-bolster-bangladesh-nepal-economic-ties-667988.html Sun, 05 Apr 2026 15:44:00 +0530 https://dailyworld.in/business/over-51-lakh-lpg-cylinders-delivered-in-a-day-no-dry-out-at-gas-agencies-centre-667992.html New Delhi April 5 IANS Online LPG cylinder bookings have increased to 95 per cent and no dryout has been reported at LPG distributorships with more than 51 lakh domestic cylinders distributed on April 4 according to the latest update issued by the Ministry of Petroleum and Natural Gas on SundaynbspnbspTo prevent diversion at the distributor level Delivery Authentication Code DAC based deliveries have increased 90 per cent from 53 per cent in February before the disruption in supplies due to the Iran war Consumers have been advised to use digital modes for booking LPG cylinders and avoid visiting distributors unless necessaryThe number of 5 kg LPG cylinders sold on Saturday surpassed the 90000 mark taking the total count since March 23 to about 66 lakh cylinders The 5 kg cylinders are available at nearby LPG distributorships and can be purchased by showing any valid ID proof No address proof is required the official statement saidMeanwhile PNG piped natural gas expansion has gathered pace with 36 lakh connections gasified and over 39 lakh new registrations since March this yearStates have been advised to facilitate the new PNG connections for both domestic and commercial consumersAll refineries are operating at high capacity with adequate crude inventories in place The country is also maintaining sufficient stocks of petrol and diesel Domestic LPG production from refineries has been increased to support domestic consumption the statement saidThe government is making all efforts to ensure the availability of petrol diesel and LPG and citizens are advised to avoid panic purchase of the fuels as well as unnecessary booking of LPG Citizens are requested to use digital modes for booking of LPG cylinders and avoid visiting LPG distributors unless necessary the statement saidThe statement also urged households to use alternative fuels such as PNG induction and electric cooktops wherever feasible In the current situation all citizens are requested to make necessary efforts to conserve energy in their daily usagePeople have also been advised to beware of rumours and rely only on official sources for correct informationThe government has given the highest priority to domestic LPG and PNG along with high priority to hospitals and educational institutions amid the disruptions due to the Iran warThe Centre has already implemented several rationalisation measures on both the supply and demand side including enhancing refinery production increasing the booking interval from 21 to 25 days in urban areas and up to 45 days in rural areas and prioritising sectors for supplyAlternative fuel options like kerosene and coal have been offered to ease pressure on LPG demandThe Petroleum Secretary chaired a meeting with Additional Chief Secretaries and Principal Secretaries Food ampamp Civil Supplies of all states and UTs to review the fuel supply situation and highlighted measures taken to ensure adequate availabilitynbspThe states were directed to prioritise LPG distribution especially for domestic and essential needs while maintaining strict vigilance against hoarding diversion and misinformation On reports concerning LPG supplies to migrant workers the states clarified that there is no disruption in LPG supply affecting migrants and that supplies remain stableIANS https://dailyworld.in/business/over-51-lakh-lpg-cylinders-delivered-in-a-day-no-dry-out-at-gas-agencies-centre-667992.html Sun, 05 Apr 2026 16:04:00 +0530 https://dailyworld.in/business/indias-major-ports-handled-record-91517-million-tonnes-of-cargo-in-fy26-667996.html New Delhi April 5 In a significant achievement for Indiaâs maritime sector the countryâs major ports have collectively handled 91517 million tonnes MT of cargo during FY 202526 surpassing the annual target of 904 MT according to a statement issued by the Ministry of Ports Shipping and Waterways to mark National Maritime Day This reflects a yearonyear growth of 706 per cent reaffirming the sectorâs strong recovery and sustained growth trajectory driven by transformative reforms and strategic investments undertaken by the Government of India to modernise port infrastructure enhance logistics efficiency and strengthen Indiaâs position as a leading maritime nation the official statement saidThe performance shows consistent growth across major ports with Deendayal Port Authority emerging as the top performer at 16011 MT followed by Paradip Port Authority at 15645 MT and Jawaharlal Nehru Port Authority JNPA at 10201 MT Other key ports including Visakhapatnam Port Authority Mumbai Port Authority Chennai Port Authority and New Mangalore Port Authority also registered strong performance contributing significantly to the overall cargo throughputIn terms of growth rate Mormugao Port Authority recorded the highest increase at 1591 per cent followed by Kolkata Dock System at 1428 per cent and JNPA at 1074per cent reflecting improved efficiency and rising cargo volumesUnion Minister of Ports Shipping and Waterways Sarbananda Sonowal said âThe record cargo handling of over 915 million tonnes by our major ports is a testament to the governmentâs unwavering commitment to strengthening Indiaâs maritime sector Guided by the vision of Prime Minister Narendra Modi we are building worldclass port infrastructure improving efficiency and enabling seamless logistics to support Indiaâs growing economyâThe sustained growth in cargo handling has been driven by capacity augmentation and modernisation of port infrastructure strengthened multimodal connectivity and seamless hinterland linkages adoption of digital and smart port initiatives increased handling of key commodities including coal crude oil containers fertilisers and POL as well as improved turnaround time and ease of doing business across portsThe Ministry of Ports Shipping and Waterways continues to advance a comprehensive maritime strategy focused on portled development logistics integration and sustainabilityWith sustained policy momentum and infrastructure investments Indiaâs major ports are wellpositioned to further scale new milestones and contribute significantly to the nationâs economic growth and global trade leadership the statement added IANS https://dailyworld.in/business/indias-major-ports-handled-record-91517-million-tonnes-of-cargo-in-fy26-667996.html Sun, 05 Apr 2026 16:11:00 +0530 https://dailyworld.in/business/south-central-railway-completes-kavach-field-trials-for-487-route-kms-667997.html Hyderabad April 5 The South Central Railway has successfully completed Kavach field trials for 487 route kilometres during 202526 surpassing the target set by the Railway Board Kavach is an indigenously developed safety system designed to prevent accidents caused by human errorIt can automatically apply brakes if a train passes a signal at danger and helps ensure safe train operations by continuously monitoring speed and signalsThe South Central Railway SCR said on Sunday that it has given special thrust to safety enhancement measures and in this direction steps were taken for the installation of Kavach 40 across the SCR network during the last financial year 202526 Accordingly the Zone has successfully completed field trials for a distance of 487 route kms by surpassing the Railway Boardâs target of 402 route kms The SCR said in a statement that meticulous planning and effective implementation have resulted in this stupendous achievement The Zone has also commissioned Automatic Block Signalling which helps in increasing section capacity for a distance of 479 route Kms Rkms against the target of 357 Rkms during the last financial year The field trials of Kavach 40 installation were conducted in the sections between Kazipet Peddampet 101 Rkm Malkajgiri Kamareddi 106 Rkm Charlapalli Raghunathpalli 79 Rkm Guntakal Raichur 120 Rkm Mudkhed Parbhani 81 Rkm Loco Kavach trials were also successfully commissioned in these sections During the last financial year 202526 SCR has commissioned Automatic Block Signalling in different sections between Kazipet Balharshah Vijayawada Duvvada and Wadi Renigunta for a distance of 479 Rkms Automatic Block Signalling is a system of train working in which the movement of the trains is controlled by the automatic stop signals These signals are operated automatically by the passage of trains ABS operation is designed to allow trains operating in the same direction to follow each other in a safe manner without risk of rearend collision It reduces railway costs helps in improving the capacity of the section and also in increasing the average speed of the trains This system is initially being commissioned in the highdensity and grand trunk routes of the SCR network Sanjay Kumar Srivastava General Manager SCR has complimented the Signal and Telecommunications wing officials at both the Zonal and Divisional levels for their extraordinary contribution which helped the Zone to achieve the record commissioning of Automatic Block Signalling and Kavach field trials The General Manager also stated that Kavach and ABS will be taken up with top priority during the current financial year to strengthen safety IANS https://dailyworld.in/business/south-central-railway-completes-kavach-field-trials-for-487-route-kms-667997.html Sun, 05 Apr 2026 16:13:00 +0530 https://dailyworld.in/business/more-flights-coming-to-india-from-gulf-region-668003.html New Delhi April 5 The flight situation from the Gulf region to India continues to improve with 90 nonscheduled flights expected to arrive from the UAE on Sunday according to an official statement Flights are also operating from multiple airports in Saudi Arabia and Oman to India while the Qatar airspace is partially open with around 810 flights expected to arrive on SundayWhile the airspace in Kuwait and Bahrain is closed flights are operating via Dammam Saudi Arabia to India Travel from Iran is being facilitated via Armenia and AzerbaijanSimilarly travel from Israel to India is being facilitated via Egypt and Jordan while travel from Iraq is being facilitated via Jordan and Saudi ArabiaBesides the mortal remains of an Indian seafarer who tragically lost his life in an attack on a ship off the coast of Oman have been brought back to India and all necessary assistance is being extended to the bereaved family the statement addedMeanwhile across the region Indian Missions and Posts remain in close contact with the Indian community while continuing to provide assistance and issue necessary advisories for their safety and wellbeing according to the Ministry of External AffairsA total of 345 Indian fishermen stranded in Iran returned home on Saturday The Embassy in Tehran facilitated their movement from South Iran to Armenia from where they boarded flights to ChennaiThe Ministry of External Affairs continues to closely monitor the evolving situation in the Gulf and West Asia region with the safety security and welfare of Indian nationals as the highest priority A dedicated control room remains operational with regular coordination with statesUTs and Indian MissionsIndian Missions and Posts are operating roundtheclock helplines issuing advisories and engaging with Indian community associations companies and local authorities Assistance includes visas consular services transit facilitation and logistical supportWelfare of Indian students remains a priority Missions are coordinating with local authorities Indian schools Boards and the National Testing Agency to address academic concernsThe Missions are in continuous contact with Indian crew on vessels providing consular support facilitating family communication and assisting in return requests IANS https://dailyworld.in/business/more-flights-coming-to-india-from-gulf-region-668003.html Sun, 05 Apr 2026 16:47:00 +0530 https://dailyworld.in/business/bangladesh-faces-economic-strain-as-iran-war-pushes-up-fuel-and-food-costs-668028.html New Delhi April 5 The ongoing war in Iran is creating real economic pressures in Bangladesh affecting fuel fertiliser freight and foreign exchange a report has said While the country is geographically distant from the conflict its highly connected economy is feeling the impact quickly as per The Daily Star reportThe main channel of this disruption is the Strait of Hormuz through which about onefifth of the worldâs oil and LNG normally moveAny interruption in this route affects energy supplies shipping and fertiliser which are essential for agricultureGlobal markets are already responding with oil prices rising above 100 per barrel LNG cargoes delayed and freight costs increasing Fertiliser prices are also rising posing a risk to food productionFor Bangladesh these shocks are arriving together Higher energy costs are driving up electricity and transport prices while rising fertiliser costs will increase agricultural expenses the report saidFreight increases push up import costs The real problem is not just higher prices but the availability of these essential goodsShortages in fuel fertiliser or shipping can disrupt the economy even more than price increases alone as per the reportThe first pressure point is the balance of payments Import costs are rising while export earnings and remittances could be affected if Gulf labour markets weakenThe government is also under fiscal strain Attempts to limit the passthrough of higher global fuel prices mean subsidies are absorbing part of the external shockMeanwhile weak tax collection leaves little room for additional support the report statedRising energy and fertiliser costs are expected to feed into higher transport and food prices creating classic costpush inflationMonetary policy alone cannot fully control this leaving the government to balance inflation risks against slower growthThe financial sector may also be affected as weak bank balance sheets could worsen if economic activity slows the report said IANS https://dailyworld.in/business/bangladesh-faces-economic-strain-as-iran-war-pushes-up-fuel-and-food-costs-668028.html Sun, 05 Apr 2026 17:58:00 +0530 https://dailyworld.in/business/iran-records-worlds-longest-nationwide-internet-shutdown-amid-ongoing-conflict-668035.html New Delhi April 5 Iranâs internet blackout imposed following a joint USIsrael military operation on Tehran has now entered its fifth week making it the longest nationwide internet shutdown on record according to digital monitoring group NetBlocks on Sunday In a post on social media platform X NetBlocks reported that the shutdown has continued for 37 consecutive days exceeding 864 hours surpassing all previous comparable incidents in terms of duration and scaleâIrans internet blackout is now the longest nationscale internet shutdown on record in any country exceeding all other comparable incidents in severity having entered its 37th consecutive day after 864 hoursâ it saidThe blackout which began on February 28 has effectively isolated the general public from the global internet while authorities experiment with selective access through a tiered whitelisting systemNetBlocks highlighted that while other countries have faced intermittent or regionspecific shutdowns such as Myanmar Sudan Kashmir and Tigray none has experienced a full national disconnect for this length of time after previously having standard internet accessBy contrast countries like North Korea which have never been connected to the global internet remain internationally isolated but were never online to begin withThe blackout coincides with continuous missile and drone strikes by the US and Israel on Iranian targetsIn response Tehran has launched retaliatory attacks on US and Israeli facilities in neighboring Gulf countriesAmid the conflict Iranian authorities have also restricted alternative access methods including satellite connections and VPNs leaving citizens with limited or no reliable ways to communicateNetBlocks stressed the human cost of the shutdown noting that families are unable to contact loved ones at a critical timeDespite these challenges there are no signs of deescalation and the Iranian government has not indicated when full internet access will be restored IANS https://dailyworld.in/business/iran-records-worlds-longest-nationwide-internet-shutdown-amid-ongoing-conflict-668035.html Sun, 05 Apr 2026 18:38:00 +0530 https://dailyworld.in/business/india-flagged-lpg-tanker-green-sanvi-crosses-strait-of-hormuz-two-more-in-line-lead-667904.html New Delhi April 4 IANS Another Indiaflagged liquefied petroleum gas LPG tanker Green Sanvi transited east of the Strait of Hormuz according to ship tracking data making it the seventh Indian vessel to clear the maritime chokepoint safely amid the West Asia conflictnbspnbspThe vessel used a designated corridor through Irans territorial waters to navigate the strategically sensitive waterwayThe tanker is estimated to be carrying around 44000 tonnes of LPG roughly equivalent to half a days LPG consumption in India before the ongoing West Asia conflict Industry experts say that two more Indiaflagged LPG tankers Green Asha and Jag Vikram are expected to cross the Strait and head to India in the coming daysGreen Sanvi is the seventh Indiaflagged merchant vessel to transit the Strait of Hormuz since the onset of the West Asia war and all seven vessels have been LPG tankers With its passage there are now 17 Indiaflagged ships in the Persian Gulf region east of the Strait These include three additional LPG tankers four crude oil tankers one liquefied natural gas LNG tanker one chemical products tanker three container ships two bulk carriers and two vessels undergoing routine maintenance according to shipping recordsIndia has been actively engaging with Iran at the diplomatic level to ensure the safe passage of its merchant vessels through the Strait of Hormuz Iran which has largely restricted vessel movements amid the ongoing West Asia war clarified last week that nonhostile vessels linked to countries other than the US Israel and their allies can transit the strait in coordination with Iranian authoritiesIrans Foreign Minister Abbas Araghchi confirmed that the waterway remains operational for nations considered friendly with vessels from China Russia India Iraq and Pakistan having been allowed to move through the chokepointDuring its transit Green Sanvi was signalling its Indian identity and that of its seafarers on board a practice that has become standard for vessels coordinating with Iranian authoritiesThe Strait of Hormuz which connects the Persian Gulf to the Arabian Sea remains a critical maritime chokepoint for global energy flows and ensuring safe navigation for commercial ships has become increasingly vital amid geopolitical tensionsThe successful passage of Green Sanvi highlights Indias efforts to secure energy supply lines despite ongoing disruptions in the region and underscores the importance of coordinated diplomacy and maritime safety measures in maintaining uninterrupted trade flowsIANS https://dailyworld.in/business/india-flagged-lpg-tanker-green-sanvi-crosses-strait-of-hormuz-two-more-in-line-lead-667904.html Sat, 04 Apr 2026 12:54:00 +0530 https://dailyworld.in/business/artemis-ii-astronauts-send-stunning-earth-images-from-near-the-moon-667906.html New Delhi April 4 IANS United States National Aeronautics and Space Administration NASA Artemis II astronauts sent stunning images of Earth as they approached closer toward the moonnbspPhoto captured by Commander Reid Wiseman showed a curved slice of Earth framed by the Orion capsules window A second image revealed the entire globe with its oceans crowned with white clouds and a glowing green aurora NASA saidThe first astronaut moonshot has been made in more than half a century according to multiple reportsIn the image of Earth taken by the Artemis II crew we can see the electric lights of human activity In the lower right sunlight illuminates the limb of the planet NASA captioned a photo on X platformIn the first photo a longer shutter speed had let in more light from Earth while the shorter shutter speed in the second photo emphasised Earths nighttime glowAnother photo captured the stark divide between night and day on Earth known as the terminatorWhether awake or dreaming were all here on this planet together the space agency captioned itIts great to think that with the exception of our four friends all of us are represented in this image said Lakiesha Hawkins an exploration systems leader said adding that the mission was progressing wellAs of late Friday afternoon NASAs crew in the spacecraft were over 180000 kilometres from Earth with another 240000 kilometres to reach the near moon orbit at their destination probably by MondayThe team of three Americans and one Canadian have planned a swing around the moon in their Orion capsule execute a Uturn and return directly to Earth without landing The team became the first travellers to the Moon since Apollo 17 in 1972IANS https://dailyworld.in/business/artemis-ii-astronauts-send-stunning-earth-images-from-near-the-moon-667906.html Sat, 04 Apr 2026 13:05:00 +0530 https://dailyworld.in/business/taxes-margins-eat-half-of-pakistans-petrol-price-consumers-cry-report-667914.html New Delhi April 4 IANS Pakistani consumers are bearing almost half of petrols retail cost in the form of government levies and industry profit margins an internal government document has revealed coming just a day after a massive increase in the prices of both petrol and diesel was announced a report saidnbspAccording to the Geo News report Petroleum Minister Ali Pervaiz Malik speaking alongside Finance Minister Muhammad Aurangzeb at a press briefing announced a Rs 13723perlitre rise in petrol prices pushing the retail rate to Rs 45841 per litreMoreover highspeed diesel climbed even more steeply up Rs 18449 per litre to a new benchmark of Rs 52035Both hikes were attributed to disruptions in the global oil supply chain stemming from the ongoing conflict in the Middle EastThe Ministry of Energys pricing document lays bare a cost structure that places the exrefinery price of petrol at Rs 24715 per litre less than the Rs 21126 per litre piled on through taxes and marginsOf that nonproduct portion a petroleum levy alone accounts for Rs 16061 per litre followed by Rs 2412 in customs duty and Rs 250 under the climate support levyThe inland freight margin adds another Rs 752 while oil marketing companies OMCs collect Rs 787 in profit and pump dealers retain an Rs 864 commission per litreThe picture is markedly different for diesel consumers The exrefinery price of highspeed diesel stands at Rs 46123 per litre and unlike petrol diesel currently attracts no petroleum levyIn addition combined taxes and margins on diesel total Rs 5912 per litre 1136 per cent of the retail price comprising Rs 3574 in customs duty Rs 437 for inland freight Rs 787 in OMC profit Rs 864 for dealers and the Rs 250 climate levyThe disclosures have drawn fresh scrutiny to the governments fiscal strategy with petrols taxandmargin share more than four times that of diesel even as pump prices for both fuels reach record highsIANS https://dailyworld.in/business/taxes-margins-eat-half-of-pakistans-petrol-price-consumers-cry-report-667914.html Sat, 04 Apr 2026 13:56:00 +0530 https://dailyworld.in/business/dalal-street-enters-consolidation-phase-amid-high-volatility-low-visibility-experts-667928.html Mumbai April 4 IANS Indian stock markets appear to be moving into a consolidation phase marked by high volatility and limited clarity on direction as global uncertainties and mixed domestic signals keep investors on edge according to market experts on SaturdaynbspIndian equity benchmarks ended the holidayshortened week on a subdued note reflecting the ongoing uncertainty in the marketThe Nifty slipped 047 per cent while the Sensex also closed lower marking the sixth consecutive week of declineDespite the weak headline numbers experts pointed out an important shift beneath the surfaceIn perspective the market appears to be transitioning into a consolidation phase with high volatility and low visibility Hariprasad K of Livelong Wealth saidWhile domestic flows and technical supports are providing stability global factors such as crude oil prices and geopolitical developments will continue to dictate direction he addedAccording to the broader market structure remains fragile but not decisively bearishThe 22500 level is acting as immediate support while the 2290023000 zone continues to be a strong resistance area due to heavy selling pressure he mentionedUnless the index manages to sustain above this zone the prevailing trend is likely to remain sell on rise in the near term the expert notedAjit Mishra of Religare Broking highlighted that persistent volatility is being driven largely by global developments particularly tensions involving the United States and IranThese geopolitical concerns have kept crude oil prices elevated which is a key risk for India given its dependence on imports Higher crude prices can impact inflation currency stability and overall market sentimentThe upcoming week is expected to remain dataintensive and influenced by both domestic and global cues Mishra statedDevelopments in the USIran conflict and their impact on crude oil prices will remain critical drivers of market sentiment he notedIANS https://dailyworld.in/business/dalal-street-enters-consolidation-phase-amid-high-volatility-low-visibility-experts-667928.html Sat, 04 Apr 2026 15:07:00 +0530 https://dailyworld.in/business/fta-with-eu-likely-to-boost-indias-competitiveness-in-some-sectors-report-667929.html New Delhi April 4 IANS Europes fragile economic outlook amid geopolitical tensions could have ripple effects on Indias trade and sectoral competitiveness with the latter to gain from FTA a new report has saidnbspThe report from EY noted that India could gain from new opportunities with deeper trade engagement with Europe and rising competitiveness in sectors such as textilesTariff and trade policy changes by the United States as well as West Asian conflict will act as headwinds for Europes economy potentially affecting global trade flows and competition with countries like IndiaThe report highlighted that the recently announced EUIndia Free Trade Agreement FTA could have mixed sectoral implications for European industries while creating competitive pressure in some segments While the aggregate macro impact on Europe is negligible sectoral effects are somewhat more meaningful the report saidEuropean industries especially textile industry could face stronger competition from India while minerals sector may benefit from improved access to production inputsUS Tariffs will shave 05 pp off EUs GDP growth in 2026 with the most negative effects concentrated in Ireland and Nordic countries according to the business advisory firm However it maintained that the euro area economy is likely to grow though at a modest pace before it recovers graduallyHeadline euro area growth is expected to slow to 13 per cent in 2026 from 15 per cent in 2025 Growth should reaccelerate to 14 per cent in 2027 and 15 per cent in 202829 the report saidGeopolitical tensions in the Middle East could affect global energy prices and raise inflation in Europe by 03 pp in 2026 and reduce GDP by 02 per centAgeing populations and labour shortages could weigh on Europes longterm growth prospects especially in parts of Central Eastern and Southern EuropeInvestments in new technologies such as artificial intelligence could provide a boost to Europes productivity and economic output in the coming decadeAI could raise Western Europes GDP by up to 4 per cent by 2033 the report noted though it cautioned that Europe risks lagging the United States in AI investmentsA major disruption such as a blockade of the Strait of Hormuz could have much larger economic consequences it warnedIANS https://dailyworld.in/business/fta-with-eu-likely-to-boost-indias-competitiveness-in-some-sectors-report-667929.html Sat, 04 Apr 2026 16:25:00 +0530 https://dailyworld.in/business/gold-slips-17-pc-from-record-high-despite-war-tensions-667859.html New Delhi April 4 Even as geopolitical tensions intensify with the Middle East conflict entering its fifth week gold prices in India remain nearly 17 per cent below their record peak Gold prices ended the week on a positive note but the broader trend reflects pressure on bullionThe COMEX gold price settled at 467970 per ounce while on the domestic front MCX gold closed at Rs 149650 per 10 gramsThis places gold prices in India around Rs 31000 lower than their alltime high of Rs 180779 per 10 gramsMarket experts said that the ongoing geopolitical uncertainty initially boosted goldâs appeal as a safehaven assetHowever sentiment shifted after US President Donald Trumpâs address dashed hopes of a ceasefire in the USIran conflictâMarkets now shift focus to key US data including NonFarm Payrolls ADP employment and unemployment rate which could drive sharp volatilityâ an analyst statedFrom a technical perspective experts said that the support is seen near Rs 148000 while resistance is placed around Rs 155000The escalation triggered a sharp rally in crude oil prices which in turn strengthened the US dollar and reignited inflation concerns globallyA stronger dollar typically makes gold more expensive for holders of other currencies thereby capping its upsideAnalysts noted that this dynamic has played a key role in preventing gold from testing its previous highs despite heightened geopolitical risksAdding to the pressure recent US economic data has pointed to resilience in the worldâs largest economyBetterthanexpected nonfarm payroll numbers indicated that the labour market remains strong which could ease immediate concerns around a slowdownThis has strengthened expectations that the US Federal Reserve may continue to maintain a hawkish stance on interest ratesHigher interest rates reduce the appeal of nonyielding assets like gold further limiting its upward momentumDespite these headwinds gold managed to post a weekly gain of around 220 per cent Analysts believed that the trajectory of gold prices will now depend on how the geopolitical situation evolves and whether inflationary pressures persist in the coming weeksâOverall gold is expected to remain highly volatile with eventdriven moves in the near term a market expert mentioned IANS https://dailyworld.in/business/gold-slips-17-pc-from-record-high-despite-war-tensions-667859.html Sat, 04 Apr 2026 09:45:00 +0530 https://dailyworld.in/business/pakistan-to-repay-35-billion-to-uae-amid-strained-ties-667862.html New Delhi April 4 Pakistanâs already weak economy is coming under fresh pressure as the country prepares to repay 35 billion to the United Arab Emirates this month even as relations between the two sides show signs of strain According to a report by The Express Tribune Islamabad has decided to return the loans in phases throughout AprilThe report said that around 450 million will be paid next week followed by 2 billion and another 1 billion later in the monthThe move comes after months of uncertainty over these loans Unlike in the past when Gulf countries often gave Pakistan more time to repay the UAE had only been extending the loans for short periods This change signals a tougher stance from a longtime allyThe repayment is expected to put pressure on Pakistanâs foreign exchange reserves which are already under stressUsing reserves to pay back such a large amount could weaken the countryâs ability to manage its external financesThe situation has become more serious due to recent tensions with United Arab Emirates Reports suggested that Abu Dhabi is unhappy with Pakistanâs perceived closeness to Iran during the ongoing regional conflictThis has raised questions among Emirati officials about Pakistanâs foreign policy prioritiesThese tensions could also affect future financial support A separate 2 billion assistance package from the UAE is now seen as uncertain the report saidPakistan continues to rely heavily on support from friendly countries as part of its programme with the International Monetary FundNations like Saudi Arabia the UAE and China have been helping by maintaining deposits to support Pakistanâs economyHowever the latest developments suggest that such support is no longer guaranteed and may come with stricter conditionsEven within the country there is growing concern over this dependence Prime Minister Shehbaz Sharif recently admitted that repeatedly seeking financial help from other countries affects national âselfrespectâ as lenders often expect something in returnWith exports declining investment slowing and debt repayments rising the 35 billion repayment highlights deeper economic challenges as per the report IANS https://dailyworld.in/business/pakistan-to-repay-35-billion-to-uae-amid-strained-ties-667862.html Sat, 04 Apr 2026 10:16:00 +0530 https://dailyworld.in/business/india-among-uss-largest-trade-deficit-partners-with-5491-billion-in-past-12-months-667741.html Washington April 3 The United States recorded a goods trade deficit of 5491 billion with India over the past 12 months placing it among Washingtonâs top deficit partners even as the overall US trade gap widened in February according to official data The monthly figures showed the US trade deficit rose to 5735 billion in February up 267 billion from January though still 11 percent below the 12month averageThe increase came as imports grew faster than exports Total exports stood at 3148 billion while imports reached 3721 billion during the monthIn goods trade the US ran a deficit of 8460 billion while the services sector posted a surplus of 2726 billion The goods deficit widened from January while the services surplus edged lowerIndia featured among the notable US trade partners In February alone the US recorded a goods trade deficit of about 35 billion with IndiaOver the 12month period through February 2026 India accounted for about 501 per cent of the total US goods trade deficit reflecting steady trade flows between the two countriesIndia also ranked among the significant sources of US imports Goods imports from India totalled 10197 billion over the same period underlining its role in supplying pharmaceuticals engineering goods and other products to the American marketAt the same time imports from India generated 1234 billion in US customs duties with an average applied tariff rate of 1212 per centThe broader US trade picture continued to be shaped by larger imbalances with Mexico Vietnam and China which remained the top contributors to the goods trade deficitExports during February rose on the back of higher shipments of industrial supplies and materials including nonmonetary gold and natural gas Services exports also increased modestlyHowever imports rose more sharply driven by demand for capital goods computers semiconductors crude oil and pharmaceutical preparationsAmong traded goods over the past year civilian aircraft pharmaceutical products and nonmonetary gold were the leading US exports On the import side pharmaceuticals computers and passenger vehicles dominatedDespite the monthly rise longerterm trends suggest some easing in the trade imbalance Yeartodate data showed the deficit has narrowed compared to the same period last year with exports increasing and imports declining on an annual basisIn February the US collected 2124 billion in import duties about 13 per cent below the 12month average The average applied duty rate stood at 848 per cent IANS https://dailyworld.in/business/india-among-uss-largest-trade-deficit-partners-with-5491-billion-in-past-12-months-667741.html Fri, 03 Apr 2026 11:00:00 +0530 https://dailyworld.in/business/govt-suspends-order-mandating-60-pc-free-seat-selection-on-flights-667750.html New Delhi April 3 The government has suspended its earlier direction to airlines to offer at least 60 per cent of seats on any flight free of additional charge which was set to come into effect from April 20 The Civil Aviation Ministry in a communication to the Directorate General of Civil Aviation DGCA said the matter had been reviewed following representations from the Federation of Indian Airlines and Akasa Air which flagged operational and commercial implications of the provision including its potential impact on fare structures and consistency with the prevailing deregulated tariff regimeThe government noted that in view of the above and pending a comprehensive examination of the issue it has been decided that the provision relating to offering at least 60 per cent of seats free of charge shall be kept in abeyance till further ordersAt present 20 per cent of seats on a flight can be booked free of charge while the remaining seats are subject to a feeAirlines currently charge between Rs 200 and Rs 2100 for seat selection depending on factors such as frontrow positioning and extra legroomThe original direction announced by the Civil Aviation Ministry on March 18 was aimed at addressing rising passenger complaints over high charges for services including seat selectionThe ministry had issued fresh guidelines through the DGCA mandating that passengers travelling on the same PNR be seated together preferably in adjacent seats among other passengerfriendly measures The rollback comes even as India has emerged as the thirdlargest domestic aviation market globally with Indian airports handling over five lakh passengers dailyThe ministry said it remains committed to passenger facilitation transparency and upholding safety standards across the aviation ecosystem IANS https://dailyworld.in/business/govt-suspends-order-mandating-60-pc-free-seat-selection-on-flights-667750.html Fri, 03 Apr 2026 11:12:00 +0530 https://dailyworld.in/business/indias-fisheries-sector-draws-rs-39-272-crore-investment-since-2015-seafood-exports-double-667756.html New Delhi April 3 The government on Friday said that Indias fisheries sector has grown into a significant contributor to food security employment and export earnings backed by a record investment of Rs 39272 crore since 2015 According to the Ministry of Fisheries Animal Husbandry and Dairying the sector supports nearly 30 million fishers and fish farmers at the primary level and almost twice as many across the value chainIndia is now the secondlargest aquaculture producer globally accounting for roughly 8 per cent of world fish output it saidMoreover domestic fish production rose from 14164 lakh tonnes in 201920 to 19775 lakh tonnes in 202425 an average annual growth of around 7 per centSeafood exports have more than doubled over the past decade climbing from Rs 30213 crore in 201314 to Rs 62408 crore in 202425 driven largely by shrimp exports valued at Rs 43334 croreIndia now ships over 350 varieties of seafood products to nearly 130 global markets with the United States accounting for 3642 per cent of total export value in 202425 followed by China the European Union Southeast Asia Japan and the Middle EastThe share of valueadded products in the export basket has risen from 25 per cent to 11 per cent amounting to 742 millionMeanwhile to reduce dependence on a few commodities the government is promoting highvalue species such as tuna seabass cobia mud crab tiger shrimp and seaweed under the Pradhan Mantri Matsya Sampada Yojana PMMSY alongside investments in coldchain networks modern fishing harbours and digital traceability systemsIndia secured a comparability finding from US authorities in 2025 under the Marine Mammal Protection Act ensuring uninterrupted seafood exports to its largest marketThe government stated that largescale deployment of Turtle Excluder Devices on shrimp trawlers is also progressing across coastal statesOn the regulatory front the Sanitary Import Permit system has been fully digitised and integrated with the National Single Window System cutting approval time from 30 days to 72 hoursOver the next five years the government aims to expand valueadded exports build inland export hubs and deepen Indias presence in markets including the UK EU ASEAN and West Asia IANS https://dailyworld.in/business/indias-fisheries-sector-draws-rs-39-272-crore-investment-since-2015-seafood-exports-double-667756.html Fri, 03 Apr 2026 12:14:00 +0530 https://dailyworld.in/business/economists-dont-see-any-change-in-repo-rate-or-stance-at-rbi-mpc-next-week-667764.html New Delhi April 3 IANS Economists on Friday said they do not expect any change in repo rate or stance this time amid geopolitical tensions as the Reserve Bank of India RBI gears up for its monetary policy committee MPC meeting next weeknbspAccording to them the tone will be cautious and what will be eagerly awaited is RBIs forecast of GDP and inflation under the prevailing uncertaintynbspWe do not expect any measures for either liquidity or currency management as RBI will do whenever required as we have seen of late said Madan Sabnavis Chief Economist Bank of Baroda BoBThe threeday policy meeting is scheduled from April 6 to April 8 the first since the ongoing energy shock triggered by the West Asia conflict pushed Brent crude to average around 100 per barrel in MarchIf inflation breaches the upper tolerance band of 6 per cent the bank said there could be a rate hike towards the end of the yearImpact of war on growth and inflation will become clearer in the next 34 months RBI is likely to then take a call on the direction of its rate trajectory according to BoBAccording to HSBC Global Investment Research the MPC meeting will be all about communication to address the anxiety around the oil price shocknbspWe expect the RBI to outline scenarios sensitivities and broad tenets of their reaction function Despite the oil price shock we dont expect rate hikes over the foreseeable future as we believe the RBI will focus on oneyear ahead inflation which may look softer than inflation in the immediate months said HSBC economistsAccording to experts the economic landscape has reached the end of the rate cut cycle and RBI will now remain on a prolonged pauseThe RBI moved on March 27 to sharply tighten onshore banks net open foreign exchange positions prompting speculation over whether an interest rate defence of the rupee would follow HSBC pushed back on that view saying the bar for rate hikes remains highIANS https://dailyworld.in/business/economists-dont-see-any-change-in-repo-rate-or-stance-at-rbi-mpc-next-week-667764.html Fri, 03 Apr 2026 12:43:00 +0530 https://dailyworld.in/business/rajasthan-excise-department-announces-penalty-of-rs-50-000-for-serving-liquor-without-permission-667765.html Jaipur April 3 In a major regulatory shift the Rajasthan Excise Department has introduced strict penalties for violations imposing an immediate fine of Rs 50000 for serving liquor without permission or breaching licence conditions The Rajasthan government has revised its Excise Policy 202529 increasing liquor prices and tightening rules for serving alcohol at events The new provisions effective from April 1 aim to boost revenue while enforcing stricter complianceLiquor prices across Rajasthan have increased by 5 to 10 per cent following a fresh notification by the state government Alongside the price hike the cost of obtaining licences for serving alcohol at events has also gone up significantlyFor commercial events the âOccasional Licenseâ fee has been raised from Rs 12000 to Rs 20000 per day For private functions such as weddings and family gatherings the fee has increased from Rs 2000 to Rs 2500 In a major regulatory shift the Excise Department has introduced strict penalties for violationsServing liquor without permission or breaching licence conditions will now attract an immediate fine of Rs 50000 The price hike impacts different segments unevenlyCountry liquor will see the steepest rise of 89 per cent increasing costs by around Rs 85 on a Rs 900 purchase Liquor produced within Rajasthan has become up to 8 per cent costlier while Indian Made Foreign Liquor IMFL has seen a relatively modest increase of about 26 per cent Beer prices have also gone up with an increase of roughly Rs 25 per Rs 1000 spent and canned beer becoming costlier by up to Rs 33 per canAccording to the Excise Department the revisions are driven by rising production costs and are expected to generate an additional Rs 1500 crore in revenue in 2026The department has also intensified monitoring to curb illegal liquor consumption and ensure compliance with licensing normsWith nearly 98 per cent of the stateâs 7665 liquor shops already auctioned the government is focusing on both revenue augmentation and stricter enforcement Citizens planning events have been advised to obtain the necessary permits in advance to avoid penalties IANS https://dailyworld.in/business/rajasthan-excise-department-announces-penalty-of-rs-50-000-for-serving-liquor-without-permission-667765.html Fri, 03 Apr 2026 12:51:00 +0530 https://dailyworld.in/business/hpcl-cracks-down-on-lpg-malpractices-suspends-10-distributors-amid-govt-action-667767.html New Delhi April 3 IANS Stateowned Hindustan Petroleum Corporation Limited HPCL on Friday said it has suspended 10 liquefied petroleum gas LPG distributors for alleged malpractices reiterating its zerotolerance policy against irregularities in its distribution networknbspTaking to the social media platform X the company informed that it initiated strict action by suspending 10 LPG distributors found involved in malpracticeWith a zerotolerance approach we are ensuring accountability and taking timely disciplinary action wherever required the company said in a statementThe development comes amid heightened government focus on curbing irregularities and misinformation related to LPG availability and distributionThe Ministry of Petroleum and Natural Gas had on Thursday urged states and Union Territories to intensify proactive communication to counter rumours and misinformation that have triggered panic buying and hoarding in some areasIn its communication the ministry noted that misinformation and fake news regarding availability and pricing of petroleum products including LPG had increased significantly across social media platforms putting additional strain on the distribution networkIt also called on states and UTs to conduct daily press briefings at a senior level and ensure timely dissemination of accurate information through social and electronic media to reassure citizens about adequate availability and smooth supplyThe government further asked authorities to continue strict action against malpractices such as hoarding and black marketingHPCL also said that its priority remains safeguarding consumer interests maintaining transparency and ensuring reliable service deliveryIn an another post the PSU company said it has taken serious note of instances of malpractice by dealers and initiated strict action against those found violating established norms and guidelinesWe have a zerotolerance policy for any practices that compromise customer interest transparency or service integrity Accountability is being enforced and necessary disciplinary measures are being taken wherever required it saidIANS https://dailyworld.in/business/hpcl-cracks-down-on-lpg-malpractices-suspends-10-distributors-amid-govt-action-667767.html Fri, 03 Apr 2026 12:54:00 +0530 https://dailyworld.in/business/maruti-suzuki-expands-service-network-to-5-926-touchpoints-667772.html New Delhi April 3 IANS Indias largest automobile firm Maruti Suzuki on Friday said that it added 502 new service touchpoints in the financial year ended March 2026 in the highest singleyear network expansion in the automakers historynbsp bringing its total aftersales service footprint to 5926 touchpoints spread across 3000 cities and towns nationwidenbspThe newly added locations span a range of formats including ARENA and NEXA workshops Maruti Suzuki Sales and Service Points MSSPs and ServiceonWheels reflecting the companys push to serve customers across metros small towns and remote upcountry markets alikeWhether customers want to visit a workshop opt for doorstep service get their vehicle serviced at locations they frequently visit or require service support during a road trip a Maruti Suzuki service touchpoint is always within reach Maruti Suzuki India MD ampamp CEO Hisashi Takeuchi saidTakeuchi added that the company intends to expand the network to approximately 8000 touchpoints by FY203031The scale of the current expansion stands in sharp contrast to the companys earlier pace of growthThe company inaugurated its first service workshop in 1983 and took roughly 14 years to reach 1000 touchpoints by 1997Moreover the auto firm has recorded 5 per cent yearonyear growth in its March retail sales while fullyear FY26 volumes climbed about 3 per cent over the previous fiscalDuring the month it sold a total of 225251 units up from 192984 units in the same month the previous year Its domestic passenger vehicle sales stood at 169428 units while exports surged to 47040 units and sales to other OEMs reached 8783 unitsShares of Maruti Suzuki on Thursday ended at Rs 12632 an increase of 1 per cent on the BSEIANS https://dailyworld.in/business/maruti-suzuki-expands-service-network-to-5-926-touchpoints-667772.html Fri, 03 Apr 2026 13:56:00 +0530 https://dailyworld.in/business/cost-risks-in-india-auto-sector-underappreciated-by-markets-report-667804.html New Delhi April 3 The cost pressures facing Indian auto companies are being systematically underestimated by the market even as investor sentiment on India has taken a distinctly more cautious turn according to a report released on Friday A BNP Paribas analysis found investors reluctant to take a clear directional position on the market Hedge funds were largely removing tilts and factor exposures from their portfolios with several actively reducing gross exposureThe rapid reversal of US tariff trade seen last year has made investors inclined to view the current energy crisis as potentially shortlived it saidThe broader view on India has turned more negative A key concern centres on LNG availability investors fear it could prove a longerlasting issue for India distinct in nature from oil price volatilityUnlike crude which is seen as a transient price shock LNG supply disruptions are viewed as potentially delivering a prolonged hit to corporate earningsThe report also highlighted that Hong Kongbased investors were found to be somewhat less bearish on India than their Singaporebased counterparts partly a function of HK investors operating as regional allocators who are simultaneously navigating elevated volatility in other Asian marketsInvestor conversations skewed heavily toward demand impact rather than costThere is a broad consensus that commercial vehicles face the sharpest demand headwinds tied to a slowdown in government capital expenditureMoreover twowheelers are generally seen as better positioned relative to passenger vehicles on the demand side though BNP cautions that historical macro cycles do not clearly support this conclusionTractor demand is also under watch with investors worried about a potential diesel price hike again a concern BNP says is not wellsupported by historical demand dataMore significantly the bank flags that cost inflation is receiving relatively little attention and could be a source of incremental negative earnings surprisesOn positioning investors favour twowheelers over passenger vehicle names and are most bearish on commercial vehiclesThe report also noted that there is considerable divergence in singlestock views within each segment IANS https://dailyworld.in/business/cost-risks-in-india-auto-sector-underappreciated-by-markets-report-667804.html Fri, 03 Apr 2026 14:57:00 +0530 https://dailyworld.in/business/rbi-likely-to-pause-repo-rate-as-us-iran-weighs-on-growth-inflation-report-667649.html New Delhi April 2 IANS The Middle East conflict and elevated oil prices will likely lead to the Reserve Bank of India maintaining the policy repo rate unchanged at 525 per cent in its April 2026 MPC meeting a report said on ThursdaynbspThe report from Bank of Baroda predicted that the economic landscape has reached the end of the rate cut cycle and RBI will now remain on a prolonged pause The central bank will likely maintain a neutral stance and remain vigilant about the evolving situation it said adding that targeted measures may be announced to support liquidity and the rupeeIf inflation breaches the upper tolerance band of 6 per cent the bank said there could be a rate hike towards the end of the yearImpact of war on growth and inflation will become clearer in the next 34 months RBI is likely to then take a call on the direction of its rate trajectory the report saidSince the last policy meeting the USIran conflict has disrupted energy supplies with the Strait of Hormuz closed pushing oil prices above 100 per barrelMarkets also remained highly volatile and the war has pressurised FPI outflows from India bond yields and INR to touch record low at 9483 per USDThe impact of war will be felt on global growth and inflation India is also likely to get impacted and thus RBI may rework its GDP and inflation forecasts for FY27 the report saidIn the latest monthly economic bulletin released CEA has cautioned that the current account deficit too will widen significantly in FY27 The bank projected FY26 GDP growth at 76 per cent and FY27 growth to range between 772 per cent The bank also cautioned that the current account deficit is likely to widenIANS https://dailyworld.in/business/rbi-likely-to-pause-repo-rate-as-us-iran-weighs-on-growth-inflation-report-667649.html Thu, 02 Apr 2026 14:25:00 +0530 https://dailyworld.in/business/india-ipo-market-hits-highest-q1-since-2018-raises-25-billion-667652.html New Delhi April 2 Indiaâs primary market has started 2026 on a strong note with initial public offerings IPOs raising 25 billion in the first quarter marking a 78 per cent increase yearonyear YoY and the highest firstquarter performance since 2018 a new report said on Thursday India remained a key global IPO destination accounting for around 8 per cent of worldwide proceeds during the quarter according to a report by London Stock Exchange Group LSEGThe broader equity capital markets ECM showed resilience even as global uncertainties weighed on dealmaking sentimentFollowon offerings contributed a major share accounting for 58 per cent of total proceeds the report statedSectorwise financial companies led the fundraising activity contributing 12 billion and capturing over onefifth of the marketThis was supported by large deals such as the IPO of Raajmarg Infra Investment Trust Energy and power emerged as the secondlargest sector raising 10 billion with a sharp 127 per cent growth compared to last yearRetail activity also surged nearly tripling to 8934 million and securing a 151 per cent share the report statedHowever overall dealmaking activity remained subdued Mergers and acquisitions MampA involving India fell sharply with total deal value dropping 445 per cent yearonyear to 174 billionIn the debt market bond issuances by Indian entities stood at 195 billion down 39 per cent from a high base last year making it the weakest first quarter in a decadeFinancial institutions continued to dominate bond fundraising accounting for over 70 per cent of total issuance the report statedCommenting on the trend Elaine Tan Senior Manager at LSEG Deals Intelligence said dealmaking in India has begun the year cautiously with a noticeable slowdown in both MampA volumes and large transactionsâDeal makers continue to prioritise scale AI adoption domestic consolidation and portfolio divestitures amidst uncertainty and broader caution resulting in more selective pockets of activityâ Tan stated IANS https://dailyworld.in/business/india-ipo-market-hits-highest-q1-since-2018-raises-25-billion-667652.html Thu, 02 Apr 2026 14:52:00 +0530 https://dailyworld.in/business/indias-exports-to-australia-more-than-double-after-bilateral-trade-pact-667653.html New Delhi April 2 The IndiaAustralia Economic Cooperation and Trade Agreement IndAus ECTA which completed four years on Thursday since it was first signed has played a key role in propelling Indiaâs exports and enhancing trade between the two countries The agreement signed on April 2 2022 has created new opportunities for businesses entrepreneurs and employment in both countries over the last four years Indiaâs exports to Australia have more than doubled rising from 4 billion in FY 2020â21 to 85 billion in FY 2024â25 During 2024â25 total bilateral trade stood at 241 billion while Indiaâs exports to Australia recorded an 8 per cent growth over the previous year In FY 2025â26 up to February Indiaâs total trade with Australia stood at 193 billion according to data released by the Commerce MinistryUnder the IndiaâAustralia ECTA India granted preferential market access on 703 per cent of its tariff lines covering 906 per cent of trade value while Australia granted preferential market access to 100 per cent of imports from IndiaOf this 983 per cent of tariff lines became dutyfree immediately upon implementation while the remaining 17 per cent 113 tariff lines are being phased out over five years From January 1 2026 all Indian exports are eligible for zeroduty market access into Australia the official statement explainedSectoral gains under the ECTA have become more broadbased with notable growth in exports across textiles pharmaceuticals chemicals and agricultural products On the import side the agreement continues to facilitate access to essential raw materials such as base metals raw cotton chemicals and fertilisers and pulses which are critical for Indiaâs manufacturing and industrial sectors This complementary trade structure has strengthened supply chain resilience and supported domestic value addition the statement saidA major milestone in bilateral cooperation was achieved with the signing of the Mutual Recognition Arrangement MRA on Organic Products between India and Australia on September 24 2025 The MRA facilitates seamless trade in organic products by recognising each otherâs certification systems thereby reducing duplication cost and time for exporters This step has strengthened cooperation in the organic sector and enhanced transparency and trust in organic trade practicesThe agreement has emerged as a key pillar of bilateral engagement delivering tangible benefits for businesses MSMEs workers and consumers in both countries the statement added IANS https://dailyworld.in/business/indias-exports-to-australia-more-than-double-after-bilateral-trade-pact-667653.html Thu, 02 Apr 2026 14:53:00 +0530 https://dailyworld.in/business/india-has-over-85-million-tonnes-rare-earth-reserves-dr-jitendra-singh-667654.html New Delhi April 2 India holds rare earth oxide resources of approximately 852 million tonnes but remains dependent on imports for rare earth magnets and related products due to lowgrade domestic deposits regulatory constraints and a limited processing industry the Parliament was informed on Thursday In a written reply in Rajya Sabha Union Minister of State for Science and Technology Dr Jitendra Singh said the Atomic Minerals Directorate for Exploration and Research has identified 723 million tonnes of total rare earth oxide equivalent contained in monazite deposits across Andhra Pradesh Odisha Tamil Nadu Kerala West Bengal Jharkhand Gujarat and MaharashtraAn additional 129 million tonnes of rare earth resources have been identified in hard rock terrains in Gujarat and RajasthanDespite these reserves Indias dependence on imported rare earth magnets persists on account of three structural constraints domestic ore grades are significantly low at 00560058 per cent and are tied to radioactivity making extraction complex and expensive mineable reserves are limited due to coastal regulation zone rules forest cover and mangrove restrictions and the country lacks a midstream rare earth value chain for manufacturing metals alloys and magnets from refined oxidesTo address this gap the Union Cabinet in November 2025 approved a scheme to promote the manufacturing of sintered rare earth permanent magnets with a total financial outlay of Rs 7280 croreThe scheme targets the establishment of 6000 metric tonnes per annum of rare earth permanent magnet manufacturing capacity in India supported by saleslinked incentives of Rs 6450 crore over five years and a capital subsidy of Rs 730 crore the minister highlightedHe further stated that the government has also set up a rare earth permanent magnet plant in Andhra Pradesh for annual production of three tonnes of samarium cobalt magnets used in defence and atomic energy applicationsâComplementing these efforts the Union Budget 202627 has announced dedicated rare earth corridors in Odisha Kerala Andhra Pradesh and Tamil Naduâ according to himRare earth permanent magnets are critical components in electric vehicles renewable energy systems highend electronics aerospace equipment and defence systems IANS https://dailyworld.in/business/india-has-over-85-million-tonnes-rare-earth-reserves-dr-jitendra-singh-667654.html Thu, 02 Apr 2026 14:54:00 +0530 https://dailyworld.in/business/gift-nifty-logs-all-time-high-monthly-turnover-of-12980-billion-in-march-667657.html New Delhi April 2 GIFT Nifty recorded its highestever monthly turnover of 12980 billion in the month of March surpassing its previous record of 10622 billion set in October 2025 according to NSE International Exchange IX on Thursday The exchange also said that monthly trading volume hit an alltime high of 282 million contracts in March eclipsing the earlier peak of 217 million contracts set in April 2025The March milestone is the latest in a series of records for the Indialinked derivatives contractEarlier in February GIFT Nifty had logged its highestever singleday trading volume of 457989 contracts with a singleday turnover of 2348 billion surpassing the previous singleday record of 2288 billion set on January 23 2024The October 2025 monthly record of 10622 billion had itself eclipsed the earlier high of 10235 billion reached in May 2025 underscoring the steady acceleration in trading activity over the past yearSince the launch of fullscale operations on July 3 2023 the contract has clocked a cumulative trading volume of over 6337 million contracts with a total turnover of 292 trillion through March 2026By comparison cumulative volume stood at 6005 million contracts with a turnover of 276 trillion as of February 2026 indicating a sharp acceleration in the final month of the fiscal yearNSEIX which holds a market share of over 997 per cent among international exchanges at GIFT City was set up on June 5 2017 and recognised by the International Financial Services Centre AuthorityThe exchange offers a diversified product portfolio including Indian single stock derivatives index derivatives currency derivatives and depository receipts as well as primary market products such as equity shares REITs InvITs and ESG debt securities under the IFSCA Listing Regulations 2024GIFT Nifty futures also known as an early indicator of the Nifty index were trading at 22706 during intraday down 1445 points or 063 per centNotably previously the indicator was called as SGX Nifty when it was traded on the Singapore Exchange IANS https://dailyworld.in/business/gift-nifty-logs-all-time-high-monthly-turnover-of-12980-billion-in-march-667657.html Thu, 02 Apr 2026 15:33:00 +0530 https://dailyworld.in/business/income-tax-dept-launches-kar-saathi-website-to-simplify-tax-filing-offer-24x7-ai-help-667659.html New Delhi April 2 The Income Tax Department on Thursday launched a new website called âKar Saathiâ aimed at making taxrelated processes simpler and more userfriendly The department said the platform brings all direct tax information under one roof and is designed to be easier to navigate and faster to useAnnouncing the launch on X Income Tax India shared that the new website will help taxpayers access all information in one place while introducing âKar Saathiâ an AIpowered companion to guide users through their taxrelated queries and processesâThe New Income Tax website is here Simpler to navigate and faster to useâ the department saidâOne place to access all Income Tax related information Meet Kar Saathi your AI companion to help make your Direct Tax related journeys easierâ it addedThe move is part of the governmentâs broader push to modernise tax administration and improve user experience through technologyThe AI chatbot Kar Saathi is expected to provide roundtheclock assistance to taxpayers via the departmentâs websiteThe initiative was earlier highlighted by Central Board of Direct Taxes CBDT Chairman Ravi Agrawal during the launch of âPRARAMBHâ an outreach programme aimed at ensuring a smooth transition to the new Income Tax Act 2025He had said that digital services including the new website and guidance tools will be rolled out in phases to create a seamless and technologydriven systemAgrawal described PRARAMBH which stands for Policy Reform and Responsible Action for Mission Viksit Bharat as a major step in Indiaâs tax administration journeyHe said the transition to the new tax framework is not just about introducing a new law but also about making the system simpler clearer and more reliable for taxpayersAs part of the simplification exercise the number of rules has been reduced significantly from 510 to 333 while the number of forms has been cut from 399 to 190This reduction is expected to ease compliance and may eliminate requirements for over six crore transactions IANS https://dailyworld.in/business/income-tax-dept-launches-kar-saathi-website-to-simplify-tax-filing-offer-24x7-ai-help-667659.html Thu, 02 Apr 2026 15:34:00 +0530 https://dailyworld.in/business/bharti-airtel-hits-650-million-users-becomes-worlds-2nd-largest-telecom-operator-667668.html New Delhi April 2 Bharti Airtel on Thursday announced that it has reached a major milestone of 650 million customers globally making it the secondlargest telecom operator in the world by subscriber base The telecom company led by Sunil Bharti Mittal has built a strong presence across India and Africa In India alone Airtel has over 368 million mobile users according to data from GSMA IntelligenceThis includes 13 million homes connected through fixed broadband and 15 million customers using its Digital TV servicesIn Africa its subsidiary Airtel Africa serves 179 million customers across 14 countries The company offers highspeed data voice services and mobile money solutions in the region with over 52 million users relying on its financial services platformDespite this global achievement Airtel continues to be the secondlargest telecom operator in India behind Reliance Jio which crossed 500 million subscribers last year but operates only within the countryReacting to the milestone Gopal Vittal Executive Vice Chairman of Airtel said reaching 650 million customers is a big responsibility and the company will continue to focus on improving customer experience through innovation and reliable servicesHe added that Airtel aims to set higher standards in the telecom industryThe company has also been at the forefront of technological advancements becoming one of the first to roll out 5G services in IndiaAccording to a report by Kotak Equities Airtelâs subscriber base has been growing at a steady pace with a compounded annual growth rate of 29 per cent between FY21 and FY26More importantly its data subscriber base has grown faster at 97 per cent indicating a rise in highervalue customersThe report also highlighted that there is still significant room for growth especially in rural areas and mobile broadbandIt noted that nearly 20 per cent of Airtelâs users are still on 2G and 3G networks which presents an opportunity for the company to upgrade customers to faster and more premium services IANS https://dailyworld.in/business/bharti-airtel-hits-650-million-users-becomes-worlds-2nd-largest-telecom-operator-667668.html Thu, 02 Apr 2026 16:18:00 +0530 https://dailyworld.in/business/indias-captive-commercial-coal-mines-cross-200-mt-production-mark-for-first-time-667684.html New Delhi April 2 Indias captive and commercial coal mines crossed the 200 million tonne mark for the first time in FY 202526 with production reaching 21046 million tonnes a 1022 per cent rise yearonyear the Ministry of Coal said on Thursday According to the government dispatches from captive and commercial blocks also hit a record 20461 million tonnes up 735 per cent from 19042 million tonnes in FY 202425The previous years production had stood at 19095 million tonnesTwelve captive and commercial coal blocks were operationalised during the fiscal year following the grant of mine opening permissions adding over 86 million tonnes of annual production capacity to the operational mining base it saidThe ministry further highlighted that of these seven blocks commenced coal production within the same financial year reflecting faster project execution and improved regulatory coordinationIt noted that the record output reflected improved operational efficiency strengthened logistics and the sectors growing capacity to meet rising domestic energy demandThe sustained increase in dispatches also pointed to more efficient coal evacuation and a stronger supply chainIndia has been steadily expanding its domestic coal production base to reduce dependence on importsCaptive and commercial mining which allows private and government entities outside Coal India to mine coal for their own use or for sale has emerged as a key driver of this push since the sector was opened to commercial mining in 2020Union Coal and Mines Minister G Kishan Reddy had announced on X that in a historic first 35 auctioned mineral blocks have been operationalised in FY 2025â26 the highest ever in a single yearWith over 200 mineral blocks also auctioned in FY 202526 this reflects the governmentâs strong focus on fasttracking execution and bringing resources into production without delay he statedThe minister further noted that under the leadership of PM Narendra Modi reforms such as faster clearances close coordination with states and strict monitoring have accelerated operationalisationThis will boost domestic production reduce import dependence and generate employment driving Indiaâs vision of Aatmanirbhar Bharat and Viksit Bharat 2047 he said IANS https://dailyworld.in/business/indias-captive-commercial-coal-mines-cross-200-mt-production-mark-for-first-time-667684.html Thu, 02 Apr 2026 17:05:00 +0530 https://dailyworld.in/business/sensex-nifty-extend-gains-for-2nd-day-as-it-stocks-rise-667688.html Mumbai April 2 Indian equity benchmark indices recovered from early losses and ended higher on Thursday extending their gaining streak to a second straight session supported by strength in IT stocks and a firmer rupee against the US dollar The Nifty closed 015 per cent higher gaining 3370 points to settle at 2271310 The Sensex also ended in the green rising 18523 points or 025 per cent to finish at 7331955Commenting on Nifty technical outlook experts said that the 22200â22180 now acts as a strong support zone Sustaining above this range could support a shortterm recoveryâOn the upside 22700â22800 remains a key resistance band where selling pressure has been observed previouslyâ an analyst statedMeanwhile stock markets will remain closed on Friday on account of Good FridayIT stocks led the gains during the session with HCLTech and Tech Mahindra emerging among the top performers on the NiftyInfosys and Tata Consultancy Services also supported the upward move reflecting renewed buying interest in the sectorAmong other gainers on the 30share Sensex pack were HDFC Bank Bajaj Finance Maruti Suzuki and Titan CompanyBroader markets however underperformed the benchmarks although they trimmed some of their intraday lossesThe Nifty MidCap ended 030 per cent lower while the Nifty SmallCap declined 050 per centOn the sectoral front IT and realty stocks outperformed indicating selective buying in these segmentsIn contrast sectors like construction durable and pharma witnessed selling pressure and ended as the worst performers of the dayMarket sentiment was also supported by the strengthening of the Indian rupee which boosted investor confidence during the sessionâThe recovery suggests that markets are attempting to find a nearterm base supported by tactical buying rather than strong directional convictionâ a market expert mentioned IANS https://dailyworld.in/business/sensex-nifty-extend-gains-for-2nd-day-as-it-stocks-rise-667688.html Thu, 02 Apr 2026 17:08:00 +0530 https://dailyworld.in/business/sebi-proposes-return-of-open-market-buybacks-via-stock-exchanges-after-tax-changes-667702.html New Delhi April 2 IANS In a significant regulatory move the Securities and Exchange Board of India on Thursday proposed bringing back open market share buybacks through stock exchanges following recent changes in the tax frameworknbspIn a consultation paper the market regulator suggested that companies should once again be allowed to repurchase their shares directly from the secondary market as an additional option under existing buyback rulesThis method had been discontinued earlier due to taxrelated concernsSEBI said the recent amendments in the Income Tax Act have removed the earlier imbalance in taxationUnder the revised rules buyback proceeds will now be taxed as capital gains in the hands of shareholdersThis aligns the tax treatment of buybacks with regular share market transactions making it fair for all investorsThe regulator noted that shifting the tax burden from companies to shareholders has made selling shares in the open market similar to participating in a buyback through the stock exchangeIt added that this method is widely used in global markets as it supports continuous price discovery and improves liquiditySEBI also said that reintroducing open market buybacks would give companies more flexibility in managing their capital while ensuring equal treatment of public shareholders from a tax perspectiveHowever it added that the move would be subject to appropriate regulations and compliance mechanismsThe proposal comes after industry bodies such as the Federation of Indian Chambers of Commerce and Industry and the Association of Investment Bankers of India raised the issue with the regulatorThese organisations argued that open market buybacks are more efficient and are commonly used worldwide helping companies stabilise their share pricesIf implemented the move could mark a key shift in Indias capital market regulations offering companies another route to return cash to shareholders while improving overall market efficiencyIANS https://dailyworld.in/business/sebi-proposes-return-of-open-market-buybacks-via-stock-exchanges-after-tax-changes-667702.html Thu, 02 Apr 2026 18:45:00 +0530 https://dailyworld.in/business/indian-equities-open-sharply-lower-as-trumps-west-asia-remarks-dent-sentiment-667536.html Mumbai April 2 Indian stock markets opened sharply lower on Thursday with key equity benchmarks declining more than 1 per cent amid fresh escalation in the West Asia conflict Sensex opened at 72262 down 872 points or 119 per cent while the Nifty fell 131 per cent or around 300 points to open at 2238340 Both the indices fell further as trading progressed in early hoursAll sectors opened in the red with banking realty chemicals auto metal and healthcare among the top losers Sun Pharma IndiGo Asian Paints Shriram Finance Larsen and Toubro Axis Bank Eternal and Trent were the top laggards in the 50scrip Nifty basketSentiment was hit after US President Donald Trump stopped short of outlining a roadmap to end the conflict in West Asia amid fresh threatsMarket experts said the nearterm outlook remains mildly bullish underpinned by easing crude prices improving geopolitical cues and steady DII inflowsHowever markets are likely to remain volatile and eventdriven with close attention on crude oil movements FII activity and further developments in West Asia they saidThe Indian rupee remained under pressure but showed signs of stabilising supported by improving global risk sentimentOvernight Wall Street ended higher with the SampP 500 gaining 072 per cent or 4680 points and the Nasdaq rising about 1 per cent or 250 pointsAcross Asian markets major indexes traded in the red with the Nikkei Hang Seng and KOSPI falling up to 3 per centOil prices rebounded with Brent crude futures rising as much as 524 per cent to 10647 per barrel and US WTI futures climbing 45 per cent to 10464 as of 852 amOn Wednesday foreign institutional investors FIIs were net sellers in the Indian equity markets offloading shares worth Rs 8331 crore while domestic institutional investors DIIs provided support by buying equities worth Rs 717180 crore IANS https://dailyworld.in/business/indian-equities-open-sharply-lower-as-trumps-west-asia-remarks-dent-sentiment-667536.html Thu, 02 Apr 2026 10:10:00 +0530 https://dailyworld.in/business/rupee-posts-biggest-single-day-gain-in-12-years-as-rbi-tightens-speculation-curbs-667543.html New Delhi April 2 The Indian rupee posted its biggest singleday gain in more than 12 years on Thursday as authorities intensified their crackdown on currency speculation by extending curbs to offshore derivatives markets days after tightening limits on banks local positions The currency strengthened as much as 17 per cent to 9325 against the dollar its sharpest rise since September 2013 as trading resumed after a threeday holiday breakThe rally came despite broad weakness across most regional currencies as US President Donald Trump signalled a further escalation of tensions in West AsiaOn the commodities front global crude prices surged Brent crude futures traded at 10647 per barrel up 524 per cent while US WTI futures rose 45 per cent to 10464Asian stock markets also came under pressure with major indices trading in negative territory The Nikkei Hang Seng and KOSPI fell up to 3 per centDomestic markets opened lower with headline indices Sensex and Nifty falling up to 2 per cent in early tradeThe currency markets had remained closed since Monday on account of Mahavir Jayanti on March 31 the start of the new fiscal year on April 1 and will shut on Good Friday on April 3The Reserve Bank of India has barred banks from offering rupee nondeliverable forwards to resident and nonresident clients The central bank also said companies cannot rebook cancelled forward contractsEarlier in the week the central bank also put a limit of 100 million on net open rupee positions of banks It also prohibited banks from undertaking FX derivative contracts with related partiesMoreover Indias foreign exchange reserves of over 700 billion are large enough to deter speculative moves and allow the RBI to intervene to stabilise the rupee a report said IANS https://dailyworld.in/business/rupee-posts-biggest-single-day-gain-in-12-years-as-rbi-tightens-speculation-curbs-667543.html Thu, 02 Apr 2026 10:26:00 +0530 https://dailyworld.in/business/gold-slips-below-rs-151-lakh-silver-tumbles-over-5-pc-after-trumps-iran-warning-667590.html Mumbai April 2 Gold and silver prices on Thursday fell up to 56 per cent after US President Donald Trumps primetime address on the Middle East conflict failed to deliver fresh signals of an imminent resolution disappointing bullion bulls who hoped for a ceasefire announcement On the Multi Commodity Exchange MCX gold futures June 5 fell as much as 231 per cent or Rs 3563 to hit an intraday low of Rs 150145 till 1030 am On the intraday high the yellow metal traded 079 per cent or Rs 1218 lower at Rs 152490Silver futures May 5 declined as much as 559 per cent or Rs 13613 to hit an intraday low of Rs 229888 on the MCXThe white metal touched an intraday high of Rs 242800 up 028 per cent from the previous sessions closeIn international markets spot gold fell as much as 226 per cent to an intraday low of 465030 Spot silver declined 47 per cent to 7150Meanwhile COMEX gold traded at 4813 down 273 per cent while COMEX silver slumped around 6 per cent to 71Analysts said the price structure for both metals remains weak with geopolitical tensions in the Middle East offering only limited safehaven supportThe nearterm bias remains cautious with macro uncertainty and geopolitical developments expected to continue driving momentum analysts saidThe precious metals gave up their earlier gains after Trump said the monthlong conflict was close to ending but warned that the United States could strike Iran extremely hard within two to three weeksHe added that the military mission was nearing its objectives and urged allies dependent on Middle Eastern oil to help address the nearshutdown of the Strait of HormuzMoreover oil prices traded higher with Brent crude futures increasing as much as 524 per cent to 10647 per barrel and US WTI futures climbing 45 per cent to 10464 IANS https://dailyworld.in/business/gold-slips-below-rs-151-lakh-silver-tumbles-over-5-pc-after-trumps-iran-warning-667590.html Thu, 02 Apr 2026 11:35:00 +0530 https://dailyworld.in/business/s-korea-secures-50-million-barrels-of-alternative-oil-supplies-for-april-667608.html Seoul April 2 South Korea has secured around 50 million barrels of alternative oil supplies for this month to replace supplies from the Middle East blocked due to the effective closure of the Strait of Hormuz government officials said on Thursday vowing continued efforts to stably manage energy supplies The government and oil refineries are working hard to secure alternative oil supplies from different countries Yang Ghiwuk deputy minister for trade industry and resource security said in a regular briefing on energy supply noting that Seoul has been knocking on doors of Saudi Arabia Oman Kazakhstan the United States and other countries reports Yonhap news agencyYang said about 80 million barrels of oil arrive in South Korea each month when things run as usual but around 50 million barrels have been tentatively secured at the moment for this month with alternative supplies expected to increase in MayTo cover the shortfall the government is controlling the demand and working to help with supplies through a crude oil swap system with private companies he added noting the government will continue close monitoring of the marketRegarding Australias plan to impose export restrictions on natural gas Yang said the move is expected to have limited impact on South Korea explaining that Australia told Seouls foreign ministry it will make sure there is no disruption in its longterm gas supply contract with KoreaAustralia is planning to restrict exports of natural gas on shortterm spot contracts he added noting that Seoul may see disruptions in some 30000 to 40000 tons of short term gas supplies from the country which is only about half of a days supplyMeanwhile industry Minister Kim Jungkwan vowed on Thursday utmost efforts to stabilise the supply of naphtha and other petrochemical materials amid supply disruptions due to the Middle East conflictKim made such a pledge in a meeting with officials from related ministries and business associations according to the Ministry of Trade Industry and Resources which was held to discuss supply chain measures of petrochemical productsSince naphtha is a staple of industry and also a core raw material used in everyday products the government will do its utmost to establish a stable petrochemical supply chain and prevent any disruptions in peoples daily lives and industrial activities Kim saidThe minister also vowed a stern response to any unfair market practices and actions harming trust in the market IANS https://dailyworld.in/business/s-korea-secures-50-million-barrels-of-alternative-oil-supplies-for-april-667608.html Thu, 02 Apr 2026 12:22:00 +0530 https://dailyworld.in/business/nasa-astronauts-carry-iphones-to-moon-for-1st-time-aboard-artemis-ii-mission-667627.html New Delhi April 2 IANS NASA astronauts aboard the Artemis II mission are carrying their personal iPhones into deep space for the first time a shift in how the US space agency equips its crews for human spaceflight beyond Earths orbitnbspThe fourmember crew Commander Reid Wiseman Pilot Victor Glover Mission Specialist Christina Koch and Mission Specialist Jeremy Hansen of the space agency lifted off aboard the Orion spacecraft atop the Space Launch System rocket from Kennedy Space Center in Florida on Wednesday embarking on a historic 10day journey to fly around the Moon and backThe decision to allow personal smartphones was announced earlier this year by NASA Administrator Jared Isaacman as part of a broader push to modernise crew equipment and streamline mission documentationThe move allows astronauts to capture behindthescenes moments without relying on bulky governmentissued camerasWe are giving our crews the tools to capture special moments for their families and share inspiring images and video with the world Isaacman wrote on X in FebruaryHe added that qualifying modern hardware for spaceflight on an expedited timeline would serve NASA well in future lunar and orbital missionsThe devices will operate in Aeroplane mode throughout the deep space leg of the journey to prevent interference with spacecraft systems effectively serving as highend cameras When the crew passes through the International Space Station astronauts will be able to connect to the stations WiFi to send photos and emails though voice calls will not be possibleThe Artemis II mission is humanitys first crewed flight to the vicinity of the Moon in more than half a decade During the lunar flyby the crew will capture live imagery of the Moons surface observe features not previously visible to human eyes and witness a partial solar eclipse from their vantage point in deep spaceIANS https://dailyworld.in/business/nasa-astronauts-carry-iphones-to-moon-for-1st-time-aboard-artemis-ii-mission-667627.html Thu, 02 Apr 2026 13:41:00 +0530 https://dailyworld.in/business/gautam-adani-visits-ram-temple-with-family-lauds-it-as-symbol-of-indias-culture-unity-self-confidence-667628.html New Delhi April 2 Adani Group Chairman Gautam Adani on Thursday visited the magnificent Ram Temple in Ayodhya along with his family The prominent industrialist delighted to visit the birthplace of Lord Ram after the temples inauguration in 2024 offered prayers to Ram Lalla and sought blessings Adaniâs visit to the Ram Mandir coincides with the Hanuman Jayanti celebrations the day marking the birth of Lord HanumanGautam Adani was accompanied by his wife Priti Adani and son Karan Adani The Adani family participated in the holy rituals at the temple and offered prayersSpeaking to the media about Ram Lalla darshan Gautam Adani said My family and I had the opportunity to visit the magnificent Shri Ram Mandir It is a deeply emotional and proud moment for us This temple is not just a centre of faith but also a symbol of Indiaâs culture unity and selfconfidenceThe billionaire businessman also underlined Adani Foundationâs efforts to uphold the nationâs rich cultural traditions and heritage in an era dominated by Artificial Intelligence AIHe stated I pray that Lord Shri Ramâs blessings remain upon all of us and that our country continues to progress on the path of development Today I also had the opportunity to visit the Gurukul and spend some time with the children In todayâs era Gurukuls play a very important role in keeping our culture alive Through the Adani Foundation efforts are being made to preserve and promote this cultural heritage We will provide all necessary support to help maintain and pass on our traditions in the AI eraEarlier the Adani Group Chairman arrived in the city at Maharishi Valmiki International Airport the recently inaugurated terminal linking the holy town to the worldHe was welcomed to the mammoth temple complex by senior officials of Sri Ram Janambhoomi Teerth Kshetra Trustâs General Secretary Champat Rai also took him on a detour of the temple to showcase its magnificence splendour and timeless appealSome reports suggested that the Adani Group chairman will attend the hoisting of a special Hanuman flag at the temple complex on the occasion of Hanuman JayantiHanuman Jayanti also known as Hanuman Janmotsav marks the birth of Lord Hanuman Pavan Putra Son of the Wind God On this day devotees pray to Lord Hanuman the symbol of unwavering loyalty to Lord Ram and seek blessings IANS https://dailyworld.in/business/gautam-adani-visits-ram-temple-with-family-lauds-it-as-symbol-of-indias-culture-unity-self-confidence-667628.html Thu, 02 Apr 2026 13:44:00 +0530 https://dailyworld.in/business/between-tehran-and-tel-aviv-gazas-story-of-unending-war-667629.html New Delhi April 2 Between Tehran and Tel Aviv a book available on Amazon written by Col Rajeev Agarwal Senior Research Consultant at Chintan Research Foundation Delhi serves as an urgent exposà of the ongoing West Asia conflict It unravels the intricate web of alliances hostilities and historical grievances shaping the volatile region today As nations navigate a fragile balance of power this book sheds light on Irans influence in the region revealing how its ambitions and actions have farreaching implications for global peace and securityThe narrative delves deep into Israels security concerns and military strategies illustrating the challenges it faces in protecting its sovereignty amidst persistent threatsThe book highlights that the US has been pushed to fight a battle which was never its war However it was a situation which was largely built upon a number of strategic miscalculations made by America well before the October 7 Hamas attack took placeBesides it underlines Gazas humanitarian crisis due to the ongoing violence and emphasises the urgent need for dialogue and resolution in a region where countless lives are affectedIn an age where international relations are intertwined the book offers valuable insights for policymakers scholars and anyone seeking to grasp the undercurrents of global affairsThe book is not just a recounting of events itâs a clarion call for awareness and action in todayâs challenging geopolitical landscape It captures important developments as they happened and relives moments of victory defeat death anxiety and hope along the wayIn separately segregated sections it focuses not only on the âwhatâ of the war but also raises questions on the âhowâ and âwhyâ It raises questions on various aspects of the war how Israel regained military control over Gaza why multiple ceasefire attempts failed how Israeli intelligence agencies redeemed themselves how Iran and Israel engaged in a direct military conflict for the first time how Israel used this war to eliminate all other threats on its borders and most importantly how the war finally endedAs the current war in Iran completes one month there are vital lessons from the Gaza War especially on the effects and implications of a prolonged conflict IANS https://dailyworld.in/business/between-tehran-and-tel-aviv-gazas-story-of-unending-war-667629.html Thu, 02 Apr 2026 13:45:00 +0530 https://dailyworld.in/business/19-kg-commercial-lpg-hiked-by-rs-19550-atf-prices-double-to-reach-record-high-667395.html New Delhi April 1 Stateowned oil marketing companies OMCs on Wednesday made substantial revisions to prices of both aviation turbine fuel ATF and commercial LPG with rates surging sharply including a morethandoubling in jet fuel prices tracking a spike in global oil prices amid the escalating West Asia conflict Jet fuel prices more than doubled to a record high while commercial LPG rates also rose significantly adding to cost pressures across sectorsThe price of ATF in Delhi was hiked by Rs 11070308 per kilolitre or 1145 per cent to Rs 20734122 per kl according to fuel retailersThis marks the first time that ATF prices have crossed the Rs 2 lakh per kl markThe previous peak was recorded in 2022 when rates had surged to around Rs 11 lakh per kl following the spike in crude oil prices after the RussiaUkraine conflictThis is also the second consecutive monthly increase in jet fuel prices following a 57 per cent Rs 524475 per kl hike on March 1Alongside OMCs raised the price of 19kg commercial LPG cylinders by Rs 19550 Following the revision a cylinder now costs Rs 207850 in DelhiHowever there has been no revision in domestic LPG prices A 142kg cooking gas cylinder continues to retail at Rs 913 in the national capitalOil marketing companies revise ATF and LPG prices on the first day of every month based on international benchmarks and exchange rate movementsThe sharp increases come amid a steep rally in global crude oil prices which have jumped nearly 50 per cent due to supply disruptions linked to the ongoing West Asia conflictGlobally crude oil prices remained firm on Wednesday Brent crude futures rose 181 per cent to 10586 per barrel while US West Texas Intermediate WTI futures were up 190 per cent at 10331 IANS https://dailyworld.in/business/19-kg-commercial-lpg-hiked-by-rs-19550-atf-prices-double-to-reach-record-high-667395.html Wed, 01 Apr 2026 10:15:00 +0530 https://dailyworld.in/business/premium-fuels-get-costlier-regular-petrol-and-diesel-prices-steady-667398.html New Delhi April 1 IANS PSU oil marketing major Indian Oil Corporation IOC has increased the prices of its premium fuels in the national capitalnbspXP100 petrol is now priced at Rs 160 per litre up from Rs 149 earlier The highoctane fuel is primarily used in luxury vehicles and highperformance motorcycles to enhance engine efficiencySimilarly the company has raised the price of Xtra Green diesel premium diesel which now costs Rs 9299 per litre in Delhi compared to Rs 9149 previouslynbspHowever there has been no change in regular petrol and diesel prices which remained stable across major Indian cities despite a rise in global crude oil benchmarks amid escalating geopolitical tensions in West AsiaOil marketing companies have maintained stability in auto fuel prices even as other petroleum products witnessed sharp increasesIn Delhi petrol continues to retail at Rs 9472 per litre while diesel is priced at Rs 8762 per litre In Mumbai petrol costs Rs 10344 per litre and diesel Rs 8997 per litreMeanwhile commercial LPG prices were hiked by Rs 19550 per cylinder while aviation turbine fuel ATF rates were more than doubled crossing the Rs 2 lakh per kilolitre markGlobally crude oil prices have risen sharply amid ongoing tensions in West Asia US President Donald Trump has indicated that the American military could halt attacks on Iran within the next three weeks signalling a possible deescalationHowever Iran has warned that prominent American corporations could face retaliation if its key figures continue to be targeted underscoring continued uncertainty in the regionDespite volatility in global markets partly driven by disruptions around the Strait of Hormuz retail petrol and diesel prices in India have remained steadyIANS https://dailyworld.in/business/premium-fuels-get-costlier-regular-petrol-and-diesel-prices-steady-667398.html Wed, 01 Apr 2026 12:58:00 +0530 https://dailyworld.in/business/crude-oil-prices-slip-up-to-3-pc-from-day-highs-as-us-iran-de-escalation-hopes-rise-667399.html New Delhi April 1 IANS International crude oil prices on Wednesday pared early gains and fell nearly 3 per cent from the days high as optimism over a possible easing of the USIran conflict weighed on marketsnbspBrent crude futures slipped to an intraday low of 10279 per barrel down about 29 per cent from the days high of 10586 At the time of writing Brent was trading around 1 per cent lower at 10319 per barrelSimilarly US West Texas Intermediate WTI crude dropped as much as 219 per cent from its intraday high of 10331 and was marginally lower at 10125 per barrelThe decline comes after a strong rally earlier in the session In morning trade Brent had risen 181 per cent to 10586 per barrel while WTI was up 190 per cent at 10331According to analysts markets are witnessing heightened volatility amid shifting geopolitical signals and macroeconomic cuesSentiment has improved after US President Donald Trump indicated that the US could exit the conflict within two to three weeks while Iran has also signalled conditional willingness to end hostilities However uncertainty around the timing and structure of any agreement along with the risk of disruption in the Strait of Hormuz is keeping markets on edge they saidAnalysts added that while bullion prices have rebounded following a softer dollar ongoing global uncertainties and mixed economic data particularly from the US and China are maintaining upward pressure on crude oil pricesOil prices have largely remained above the 100 per barrel mark through March supported by disruptions in the Strait of Hormuz a critical chokepoint that handles nearly onefifth of global crude oil shipmentsThe volatility in oil prices follows remarks by US President Donald Trump indicating that the conflict with Iran could ease within the next two to three weeks He also suggested that a formal deal with Tehran may not be necessary to bring hostilities to an endAnalysts said that while easing geopolitical tensions have triggered some profitbooking uncertainty over the timing of any resolution and risks to supply routes continue to keep crude prices elevatedMeanwhile domestic equity markets reacted positively to the easing sentiment with benchmark indices Sensex and Nifty rising up to around 3 per cent tracking global cues in early tradeIANS https://dailyworld.in/business/crude-oil-prices-slip-up-to-3-pc-from-day-highs-as-us-iran-de-escalation-hopes-rise-667399.html Wed, 01 Apr 2026 13:04:00 +0530 https://dailyworld.in/business/gst-collections-rise-88-pc-to-rs-2-lakh-crore-in-march-clock-83-pc-growth-in-fy26-667400.html New Delhi April 1 IANS Domestic gross GST collections rose 88 per cent yearonyear to Rs 2 lakh crore in March 2026 driven by steady domestic revenues and a sharp uptick in importrelated collections according to official data released on WednesdaynbspGross GST revenue stood at Rs 200064 crore in March compared to Rs 183845 crore in the same month last year The growth was led by a strong 178 per cent rise in import revenues while domestic revenues increased at a relatively moderate performance of 59 per cent during the monthOn net basis after adjusting for refunds GST collections rose 82 per cent yearonyear to Rs 177990 crore in MarchFor the full financial year 202526 gross GST collections grew 83 per cent to Rs 2227 lakh crore compared to Rs 2055 lakh crore in the previous fiscal FY25 indicating resilient economic activity despite global uncertaintiesMoreover net GST revenue for the fiscal stood at Rs 1934 lakh crore registering a 71 per cent increase over FY25Refunds during March rose 138 per cent to Rs 22074 crore with domestic refunds seeing a sharp 312 per cent jump indicating improved compliance and faster processingMeanwhile cess collections showed a sharp decline during the month turning negative at Rs 177 crore primarily due to higher refunds and adjustmentsAccording to experts GST collections in FY26 reflect strong tax buoyancy in line with Indias estimated GDP growth of around 7 per cent underscoring the link between rising consumption expanding imports and improved complianceDomestic GST revenues grew 64 per cent during the year while importrelated collections surged 141 per cent pointing to resilient demand and strengthening trade flows despite global uncertainties the experts saidThey added that higher refunds up nearly 18 per cent moderated net revenue growth but also indicated improved efficiency in the tax system following faster clearance timelines Overall GST trends reinforce fiscal stability and highlight Indias position as a key growth driver in the global economyIn the previous month GST collections rose with a similar growth of 91 per cent YoY to Rs 184 lakh crore in February which marks the 12th consecutive month where GST revenues have exceeded Rs 17 lakh croreIn February the increase in collections was driven by a 102 per cent rise in domestic GST revenues which stood at Rs 142 lakh crore and a 54 per cent growth in revenues from imports totalling Rs 41702 croreIANS https://dailyworld.in/business/gst-collections-rise-88-pc-to-rs-2-lakh-crore-in-march-clock-83-pc-growth-in-fy26-667400.html Wed, 01 Apr 2026 13:42:00 +0530 https://dailyworld.in/business/domestic-lpg-petrol-and-diesel-prices-unchanged-despite-jump-in-global-cost-govt-667403.html New Delhi April 1 IANS The Ministry of Petroleum and Natural Gas clarified on Wednesday that only the price of commercial LPG have been increased in the country while that of domestic LPG has been left unchanged to protect households from the sharp rise in the cost at which the cooking gas is being imported amid disruptions due to the Iran warnbspPrices of commercial LPG cylinders used by industries and hotels are deregulated market determined and revised normally on a monthly basis Their consumption is less than 10 per cent of the total LPG consumed in the country the Ministry said in a statement posted on XThe April 1 price increase in commercial cylinder price is due to a 44 per cent surge in the Saudi Contract Price from 542MT in March to 780MT for April as 2030 per cent of global LPG supplies are stuck in Strait of Hormuz the statement addedIn line with the commitment of Prime Minister Narendra Modi the domestic consumer continues to be comprehensively protected with the price of a 142 kg domestic cylinder at Rs 913 remaining unchanged Similarly the subsidised price of LPG cylinders for the poor under PMUY scheme remains unchanged at Rs 613 the statement explainednbspIt further stated that at current prices the public sector oil marketing companies are incurring an underrecovery of Rs 380 per cylinder Cumulative losses by endMay will reach approximately Rs 40484 crore Last year also out of total losses of Rs 60000 crore as much as Rs 30000 crore were absorbed by the oil PSUs and Rs 30000 crore by the Government of India in order to insulate Indian citizens from high international LPG prices the statement saidThe Ministry also pointed out that Indias domestic LPG price remains one of the lowest in the world as compared to Pakistan where the price is Rs 1046 per cylinder Sri Lanka at Rs 1242 while in Nepal it is at Rs 1208The statement also clarified that regular petrol and diesel prices are unchanged at Rs 9477 per litre and Rs 8767 a litre respectively Delhi prices With global petroleum prices up by up to 100 per cent in the last one month the public sector oil marketing companies are incurring underrecoveries of Rs 2440 per litre on petrol and Rs 10499 a litre on diesel at retail selling price level as on April 1 2026nbspThe recent Rs 2 per litre litre revision applies only to premium petrol variants XP95 Power95 Speed highoctane performance products the prices of which are revised on a fortnightly basis and their sales constitute only 2 to 5 per cent of total volume They are purchased by motorists at a premium by choice the statement explainedEvery pump in India continues to offer regular petrol and diesel at unchanged prices even as prices in countries all over the world have risen by 3050 per cent the statement addedIANS https://dailyworld.in/business/domestic-lpg-petrol-and-diesel-prices-unchanged-despite-jump-in-global-cost-govt-667403.html Wed, 01 Apr 2026 14:02:00 +0530 https://dailyworld.in/business/realme-16-5g-brings-ip69-pro-rated-durability-to-mid-range-smartphone-segment-667466.html New Delhi April 1 For years the smartphone industry has largely been driven by visible innovation sleeker designs sharper cameras faster processors Yet beneath these headline features a quieter but equally critical shift has been taking shape durability is becoming a defining pillar of modern smartphones As devices become central to everyday life navigating unpredictable environments constant mobility and diverse usage scenarios users are no longer just asking how powerful a phone is but how well it holds up over time and under pressure especially for a youth lifestyle smartphone audienceWater and dust resistance ratings once considered premium differentiators are now moving toward baseline expectations Traditional IP ratings such as IP67 and IP68 offered protection against splashes and submersion but real world usage goes far beyond controlled conditions This shift has pushed the industry toward higher grade protection benchmarks including industrial level certificationsThe introduction of IP69 level protection marks a significant leap Unlike earlier standards IP69 is designed to withstand high pressure and high temperature water exposure conditions typically associated with industrial equipment rather than consumer electronicsAgainst this evolving backdrop the realme 16 5G brings a focused approach to durability with its IP69 Pro level protection a phone for social media content engineered to handle both everyday unpredictability and extreme environmentsThe device combines IP66 IP68 and IP69 certifications to deliver comprehensive protection across scenarios from dust ingress to immersion and high pressure exposure It is built with automotive grade dust and water resistance and is designed to withstand high temperature water flow of up to 80ÂC along with high pressure water jets in the range of 8 to 10 MPaWhat makes this approach particularly relevant is that durability does not come at the cost of design or usability The realme 16 5G midrange smartphone integrates this level of protection into a device that remains slim lightweight reinforcing its positioning as a premium design smartphone supported by a compact internal structure that enhances both strength and efficiencyAt the same time the device also aligns with evolving user expectations and an AI camera smartphone around imaging and content creation With a strong focus on portrait photography it positions itself as a best camera phone for photography in its segment The device features a 50MP front camera phone setup and a 50MP rear camera phone powered by a Sony sensor ensuring consistent highquality output across different shooting scenariosDurability today also extends beyond resistance to external elements and into how a device performs over time The realme 16 5G complements its physical resilience with a long life battery architecture and intelligent battery management that optimises charging behaviour and reduces long term degradation positioning it as a 7000mAh battery phone designed for extended usage This also makes it a strong contender for the best phone for daily use especially for users with demanding routinesWith its combination of power efficiency and endurance the device also caters to users looking for a heavy usage phone and stands out as a best phone for gaming and battery supporting longer sessions without frequent charging interruptions As the latest 5G smartphone it further ensures faster connectivity and a futureready experienceAs smartphones continue to evolve durability is transitioning from being a feature to becoming a fundamental expectation The realme 16 5G reflects this shift with an approach that focuses on real world reliability combining advanced protection standards with thoughtful engineering while also delivering on imaging performance and design expectations IP69 Pro engineered to handle water and extremes without compromise IANS https://dailyworld.in/business/realme-16-5g-brings-ip69-pro-rated-durability-to-mid-range-smartphone-segment-667466.html Wed, 01 Apr 2026 14:36:00 +0530 https://dailyworld.in/business/govt-shields-domestic-aviation-sector-from-jet-fuel-spike-airfares-likely-to-remain-stable-667471.html New Delhi April 1 The government on Wednesday said that domestic airfares are unlikely to see a sharp rise as it has cushioned the impact of a steep surge in aviation turbine fuel ATF prices by allowing only a partial increase for domestic airlines According to the Ministry of Petroleum and Natural Gas MoPNG ATF prices in India deregulated since 2001 are revised monthly based on international benchmarks Given the current geopolitical situation ATF prices for domestic markets were expected to rise by more than 100 per cent from April 1However in a bid to shield domestic air travel costs from a steep spike public sector oil marketing companies OMCs in consultation with the Ministry of Civil Aviation have implemented only a partial and staggered increaseDomestic airlines will face a limited hike of around 25 per cent translating to approximately Rs 15 per litre instead of the full passthrough of global price increases the government saidIn contrast airlines operating on international routes will bear the full increase in ATF prices in line with global marketlinked pricingUnion Civil Aviation Minister Ram Mohan Naidu said the calibrated approach would help protect passengers and the aviation sectorâThis calibrated approach will help shield passengers from sharp fare increases ease the burden on domestic airlines and support the continued stability of the aviation sector at this crucial junctureâ he saidHe added that the move would also benefit the broader economy by ensuring smooth cargo movement and maintaining critical air connectivity for trade and logisticsThe decision comes amid a sharp escalation in global crude oil prices due to ongoing tensions in West Asia Disruptions around the Strait of Hormuz â a critical artery for global energy trade â have pushed up fuel costs worldwidePrices of aviation turbine fuel ATF or jet fuel in the national capital have seen an increase though not as steep as initially reported after a clarification from Indian Oil CorporationAccording to the oil major ATF prices have risen by about 85 per cent not 115 per cent as previously indicated The current price of jet fuel stands at around Rs 104 lakh per kilolitre IANS https://dailyworld.in/business/govt-shields-domestic-aviation-sector-from-jet-fuel-spike-airfares-likely-to-remain-stable-667471.html Wed, 01 Apr 2026 14:38:00 +0530 https://dailyworld.in/business/8th-pay-commission-members-to-meet-govt-staff-for-feedback-on-key-issues-667478.html New Delhi April 1 IANS Members of the 8th Pay Commission have begun consultations on the proposed salary revision for central government employees and pensionersnbspA key meeting is scheduled in Dehradun for April 24 where representatives of employee unions pensioners associations and other stakeholders are expected to present their views on pay structures allowances and pensionrelated issuesMembers of the commission are expected to visit various other parts of the country well to hold similar meetings in order to get better acquainted with the problems faced by employees and retirees The feedback collected from these meetings will help the Commission decide how much salaries pensions and benefits should be revised in the futureThe Commission said that if any group wants to share their views they need to request an appointment in advanceThe notice dated March 30 read A team of the 8th Central Pay Commission shall be visiting Dehradun Uttarakhand on April 24 Interested stakeholders including central government organisationsinstitutions and unionsassociations desirous of interacting with the Commission at Dehradun may kindly submit their request seeking an appointment on or before April 10After that the Commission will inform selected participants about the exact venue and timing of the meeting Venue details and meeting schedule shall be intimated subsequently the statement saidAnyone who wants to attend the 8th Pay Commission meeting must send an email request by April 10 Only those who apply before this deadline will be considered for the meetingAfter that the Commission will review the requests and inform selected participants about the exact venue and timing All official details and updates related to the process are available on the Commissions websiteEmployee unions pensioners associations organisations and even individuals can send their views on salaries allowances pensions and other servicerelated issuesThe Commission has created an online portal where people can submit their suggestions in the form of memorandums until April 30 It has also shared a questionnaire to collect structured inputsThe deadline to send these inputs is April 30 After that the Commission will review all the feedback collected from both meetings and written submissions before preparing its recommendationsOver 11 crore central government employees and pensioners are looking for sign of an accelerated rollout of the 8th Pay Commission The panel has been given an 18month deadline to submit its reportIANS https://dailyworld.in/business/8th-pay-commission-members-to-meet-govt-staff-for-feedback-on-key-issues-667478.html Wed, 01 Apr 2026 14:54:00 +0530 https://dailyworld.in/business/adani-ports-surpasses-500-million-tonnes-cargo-milestone-667386.html Ahmedabad April 1 Adani Ports and Special Economic Zone Ltd APSEZ on Wednesday said it has surpassed the landmark milestone of 500 million tonnes of cargo handled From a single portled vision in 1998 to a network spanning 19 ports and terminals across India and beyond APSEZ has grown into a critical enabler of Indiaâs trade industrial growth and global competitivenessâPorts are not merely gateways for trade they are gateways to national confidence competitiveness and destiny I am grateful to our customers partners and every member of the APSEZ family whose dedication and belief have made this milestone possibleâ said Gautam Adani Chairman Adani Group âI also extend my sincere appreciation to the Central and State Governments whose policy and commitment to infrastructure have helped create the foundation on which APSEZ has grownâ the billionaire industrialist saidThis achievement marks a defining moment in APSEZâs evolution and underscores the growing strength of Indiaâs infrastructureled transformation More than a scale milestone it reflects the rise of a worldclass logistics platform built on longterm conviction operational discipline and national purposeâAPSEZ crossing 500 million tonnes is a signal of our decadeslong confidence in the India growth story Over the years we have built not just ports but an unparalleled interconnected transport and logistics platform spanning ports rail roads trucking warehouses and cargo gateways APSEZs best is ahead of us And the best of India is ahead of herâ Gautam Adani notedThe journey to 500 million tonnes is also a story of compounding scale and execution While APSEZ took 16 years to reach its first 100 million tonnes each subsequent 100 million tonnes has been added faster than the last reflecting the increasing scale efficiency resilience and strategic depth of its platformWith this milestone APSEZ remains firmly on course towards its next major ambition of handling one billion tonnes of cargo by 2030 As it enters this next phase the company remains committed to building not only worldclass infrastructure but also a worldclass institution defined by scale service operational excellence and national purposeThe company operates a comprehensive ecosystem of 15 strategically located ports and terminals across Indias west south and east coasts combined with a diversified marine fleet of 127 vessels integrated logistics capabilities including 12 multimodal logistics parks 31 million sq ft of warehouses and more than 25000 trucks operating on its proprietary platform IANS https://dailyworld.in/business/adani-ports-surpasses-500-million-tonnes-cargo-milestone-667386.html Wed, 01 Apr 2026 09:34:00 +0530 https://dailyworld.in/business/adani-green-energy-adds-record-over-5-gw-of-renewable-energy-capacity-in-fy26-667388.html Ahmedabad April 1 Adani Green Energy Limited AGEL on Wednesday said it added over 5 GW 5051 MW of renewable energy capacity in the financial year 2025â26 taking its total operational portfolio to 193 gigawatts GW It is the highest greenfield annual capacity expansion globally by any company excluding ChinaThe new capacity addition includes 34 GW 3409 MW of solar 07 GW 686 MW of wind and 1 GW 956 MW of windsolar hybrid capacity It is expected to offset around 10 million tonnes of carbon emissions annually and AGELâs total operational portfolio of 193 GW will result in a massive annual carbon offset of 36 million tonnes according to the largest pureplay renewable energy company in the countryâOur addition of over 5 GW of new capacity marks a watershed moment for Indiaâs renewable energy sector placing the country firmly on the global map of leading the clean energy transition It marks a significant leap in accelerating the countryâs shift to a lowcarbon economy and strengthening energy securityâ said Sagar Adani Executive Director AGEL âThis milestone strengthens our progress towards our target of 50 GW by 2030 while continuing to deliver sustainable and inclusive growth through renewables and energy storage solutionsâ Sagar Adani addedMost of the new capacity was commissioned at the worldâs largest renewable energy plant being developed by AGEL at an accelerated pace in the barren land at Khavda Gujarat Built across 538 sq kms the project is spread across an area five times the size of Paris Out of the planned 30 GW by 2029 at Khavda AGEL has already installed cumulative capacity of 94 GW 9413 MW at the site according to the companyMoreover the company also brought online an initial 1376 megawatt hours MWh of battery energy storage systems BESS at Khavda one of the worldâs largest singlelocation deployments The capacity was commissioned within eight months of starting work at the site supporting grid stability and renewable integrationThe Khavda project deploys advanced bifacial solar modules which generate electricity from both sides by capturing sunlight directly and from reflections off the ground along with solar trackers to maximise electricity generation The company said that it also deploys 52 MW wind turbines among the most powerful onshore units globally The use of waterless robotic cleaning systems leads to near zero usage of water for module cleaning and improves operational efficiency IANS https://dailyworld.in/business/adani-green-energy-adds-record-over-5-gw-of-renewable-energy-capacity-in-fy26-667388.html Wed, 01 Apr 2026 09:43:00 +0530 https://dailyworld.in/business/commercial-lpg-prices-up-by-rs-203-in-chennai-traders-fear-impact-on-food-costs-667390.html Chennai April 1 A sharp increase in commercial LPG cylinder prices has come into effect in Chennai from April 1 raising concerns among traders and consumers about a likely surge in food prices across the city As part of the monthly price revision carried out by oil marketing companies the cost of a 19kg commercial LPG cylinder has been increased by Rs 203 The price has risen from Rs 204350 to Rs 224650 marking a significant jump that directly impacts businesses dependent on bulk cooking fuelThe pricing of LPG is determined based on fluctuations in international crude oil prices and the exchange rate of the Indian rupee against the US dollarThe latest hike is also being linked to supply disruptions caused by ongoing geopolitical tensions in West Asia which have tightened global LPG availabilityThe increase has particularly affected hotels restaurants roadside eateries and tea stalls across Chennai Many business owners say they are already operating under pressure due to rising input costs and reduced marginsWith this fresh hike several establishments are now considering revising menu prices to offset the additional burden âCosts are going up every month We have no option but to increase prices if this continuesâ said a restaurant owner in the city reflecting a growing sentiment among small and mediumscale food businessesEven before this revision there were reports of LPG shortages in certain areas which had pushed up food prices in some establishments However offering some relief to households there has been no change in the price of domestic LPG cylinders used for cooking in homes The rates for household consumers remain unchanged insulating them from the immediate impact of global market volatility Despite this the indirect impact of rising commercial LPG prices is likely to be felt widelyWith eateries forming a crucial part of daily life in Chennai any increase in operational costs can translate into higher expenses for consumers in the near future IANS https://dailyworld.in/business/commercial-lpg-prices-up-by-rs-203-in-chennai-traders-fear-impact-on-food-costs-667390.html Wed, 01 Apr 2026 09:45:00 +0530 https://dailyworld.in/business/rbi-postpones-capital-market-exposure-framework-to-july-1-667331.html New Delhi March 31 The Reserve Bank of India RBI has deferred the implementation of its revised capital market exposure framework by three months changing the effective date to July 1 2026 from the earlier April 1 deadline The decision comes after feedback from banks capital market intermediaries CMIs and industry bodies which highlighted operational and interpretational challenges in implementing the new normsThe central bank had initially issued the amendment directions on February 13 2026 following public consultationThe RBI has also issued targeted clarifications across areas such as acquisition finance loans against financial assets and credit exposure to CMIsUnder the revised framework the scope of acquisition finance has been expanded to explicitly include mergers and amalgamations removing ambiguity around their eligibility However such financing will be permitted only for acquiring control of a nonfinancial target company indicating a focus on controldriven transactions rather than minority investmentsIn cases where the target entity is a holding company banks will need to ensure that the requirement of potential synergy is met across all subsidiaries and not just at the parent levelThe new framework also allows companies to route acquisition finance through Indian or overseas subsidiariesAt the same time refinancing norms have been tightened Banks can refinance acquisition loans only after the transaction is completed and control has been established and such refinancing must be used solely to repay the original acquisition debtFurther where acquisition finance is extended to a subsidiary or a special purpose vehicle SPV a corporate guarantee from the acquiring company will be mandatory strengthening credit safeguardsFor lenders the deferment provides additional time to align systems and processes with the revised norms while clearer definitions are expected to reduce legal ambiguity and structuring risksFor acquirers the framework broadens access to acquisition finance by including mergers and subsidiaryled deals but also imposes limits by allowing funding only for controloriented acquisitions and introducing stricter conditions on refinancingFor capital market intermediaries the RBI has provided operational relief by permitting bank funding for proprietary trading against 100 per cent cash or cashequivalent collateral It has also removed restrictions on financing market makers against the same securities used for marketmaking activities IANS https://dailyworld.in/business/rbi-postpones-capital-market-exposure-framework-to-july-1-667331.html Tue, 31 Mar 2026 12:05:00 +0530 https://dailyworld.in/business/stock-markets-to-remain-closed-on-mahavir-jayanti-commodities-shut-for-morning-trade-667340.html Mumbai March 31 IANS Domestic stock exchanges BSE and NSE will remain closed on Tuesday on account of Shri Mahavir JayantinbspIn addition the bourses will have 11 more days of official holidays this year except Saturdays and SundaysIn commodities the Multi Commodity Exchange of India MCX will remain closed during the morning session 9 am to 5 pm on Tuesday due to the festivalHowever trading will resume in the evening session from 5 pm to 1130 pm according to the exchange Meanwhile the National Commodity and Derivatives Exchange Limited NCDEX will remain closed for the entire dayMahavir Jayanti marking the 2624th birth anniversary of Lord Mahavira is being celebrated by Jain communities worldwideThe market holiday comes amid heightened global geopolitical tensions that have triggered a sharp selloff in equitiesDomestic markets have been under pressure due to sustained foreign institutional investor FII outflows macroeconomic concerns and continued weakness in the rupeeHowever the US President has indicated repeatedly that the war with Iran is over or nearing an end while the West Asia conflict has been ongoing for a month entering its fifth weekAgainst this backdrop GIFT Nifty futures an early indicator of the Nifty index traded higher by about 1 per cent or 250 points at 22690 as of 910 amMeanwhile on the global front Wall Street ended on lower with the SampampP 500 declining 039 per cent and the Nasdaq closed 073 per cent downIn the Asian markets Nikkei was trading 100 points or 023 per cent down Hang Seng slipped more than 50 points or 024 per cent and KOSPI slumped about 2 per centOil prices also witnessed sharp losses with Brent crude futures declining as much as 237 per cent to 10484 per barrel an intraday low as of 849 am US WTI futures also fell 2 per cent to 10083 per barrelIANS https://dailyworld.in/business/stock-markets-to-remain-closed-on-mahavir-jayanti-commodities-shut-for-morning-trade-667340.html Tue, 31 Mar 2026 12:36:00 +0530 https://dailyworld.in/business/gold-silver-likely-to-trade-positive-amid-hopes-of-de-escalation-in-west-asia-crude-oil-prices-slip-667343.html New Delhi March 31 Gold and silver prices are likely to open higher in Tuesdayâs evening session amid hopes of deescalation in the West Asia conflict Tracking global cues spot gold jumped as much as 239 per cent to 461914 per ounce as of 11 AM while US gold futures for June delivery gained 2 per cent to 464926Similarly spot silver advanced 482 per cent to 7348 per ounce while COMEX silver traded at 73705 up 444 per cent from the previous closeOn Monday MCX gold futures June 5 ended at Rs 147450 down 015 per cent while MCX silver futures May 5 closed on a flat note at Rs 229033 up 003 per centHowever the yellow metal remains on track for its steepest monthly decline in over 17 years as elevated energy prices have dampened expectations of a US interest rate cutMarket sentiment improved after reports suggested that US President Donald Trump signalled a willingness to end the military campaign against Iran which could trigger a riskon mood across global financial marketsReports also indicated that President Trump may halt US military action even if the Strait of Hormuz remains largely closed leaving efforts to reopen the key oil route for a later stageDespite the recent uptick bullion has fallen more than 13 per cent so far this month putting it on course for its sharpest monthly drop since October 2008 However prices remain up around 5 per cent for the current quarterFollowing these developments global crude oil futures traded in the negative zone with Brent crude declining 237 per cent to 10484 per barrel an intraday low US WTI futures also fell 2 per cent to 10083 per barrel as of 11 AMIndian stock markets are closed on account of Mahavir Jayanti though easing geopolitical tensions may offer some relief to sentimentMeanwhile MCX will open for the evening session between 5 PM and 1130 PM GIFT Nifty futures were trading about 1 per cent higher IANS https://dailyworld.in/business/gold-silver-likely-to-trade-positive-amid-hopes-of-de-escalation-in-west-asia-crude-oil-prices-slip-667343.html Tue, 31 Mar 2026 12:39:00 +0530 https://dailyworld.in/business/sebi-flags-60x-stock-surge-in-elitecon-alleges-pump-and-dump-scheme-667345.html Mumbai March 31 IANS The Securities and Exchange Board of India SEBI has initiated regulatory action against Elitecon International Ltd after finding prima facie evidence of a pumpanddump scheme in the companys sharesnbspThe capital markets regulator observed that the stock surged more than 60 times within a short period before witnessing a sharp decline a pattern it said was indicative of manipulative tradingIn addition the price rally was allegedly supported by coordinated trades and fund transfers involving promoters and connected entitiesSEBI also flagged abnormal financial growth noting that the companys revenue jumped nearly 686 times over a twoyear periodA sharp spike was recorded in the September 2025 quarter when revenue rose from Rs 525 crore in the June quarter to Rs 21958 croreInvestigators suspect that the company had little or no genuine business activity and may have issued misleading corporate disclosures to attract retail investors during the price surgeThe regulator further alleged that insiders offloaded shares at elevated levels Promoter Vipin Sharma has allegedly been identified as a key seller during the peak phase when trading volumes and prices were at their highestSEBI has also accused the company of serious disclosure lapses including failure to promptly inform shareholders about a Rs 408 crore Goods and Services Tax GST action Other material developments were either delayed or not disclosed potentially depriving investors of critical informationAccording to the market watchdog the investigation is ongoing with a detailed examination of trading patterns financials and linkages between entities underwayMoreover a final order including possible penalties and market restrictions will follow after completion of the probe and due processShares of Elitecon International on Monday settled at Rs 4838 apiece on the BSE a decline of almost 5 per centIANS https://dailyworld.in/business/sebi-flags-60x-stock-surge-in-elitecon-alleges-pump-and-dump-scheme-667345.html Tue, 31 Mar 2026 12:51:00 +0530 https://dailyworld.in/business/google-launches-2026-india-accelerator-for-ai-startups-667352.html New Delhi March 31 IANS Major tech giant Google on Tuesday opened applications for the 2026 cohort for startups accelerator in India a threemonth equityfree programme aimed at supporting AIfocused startups in the countrynbspThe accelerator is targeting Indian startups working in emerging areas such as Agentic AI Multimodal AI Physical AI and Sovereign AI as the ecosystem shifts from experimental use cases to largescale workflowdriven deployments according to Google IndiaThe tech firm said that the programme is open to AIfirst startups from Seed to Series A stages that are building solutions for Indiaspecific challenges or developing specialised models for global industrial applicationsUnder the 2026 cohort startups will receive equityfree support including access to Googles advanced AI models such as Gemini Gemma Imagen Veo and Lyria along with handson technical collaborationParticipants will also get oneonone mentorship from experts across Google DeepMind Cloud Health and Android teams besides access to cloud infrastructure including TPUs and credits subject to eligibilityThe accelerator will further provide structured support through weekly tracking and dedicated success managers to help startups achieve product technology and growth milestonesThe programme has delivered measurable outcomes in previous cohorts Startups such as Dview reported a fourfold increase in revenue while Superjoin improved accuracy and latency by 50 per cent using Gemini 30 Pulse another participant identified 3 million in atrisk revenue through largescale feedback analysisSeveral startups have also leveraged AI to address sectorspecific challenges AiSteth developed an offline smart stethoscope that screened over 75000 patients across multiple states while Vaani AI scaled voice processing and reduced manual calls significantly Resilience AI enhanced climate analytics performance and VideoSDK improved efficiency and reduced costs through AIled solutionsThe 2026 accelerator will begin in late June with a weeklong inperson bootcamp in Bengaluru and conclude with a Demo Day in October Moreover the applications will be closed on April 19IANS https://dailyworld.in/business/google-launches-2026-india-accelerator-for-ai-startups-667352.html Tue, 31 Mar 2026 13:41:00 +0530 https://dailyworld.in/business/31-lakh-png-connections-gasified-in-march-27-lakh-more-being-added-667357.html New Delhi March 31 IANS More than 31 lakh PNG connections covering domestic commercial hostel and canteen segments have been gasified in March while another 27 lakh new connections have been given and are being gasified to make more natural gas available for cooking amid disruptions in LPG imports due to the Iran war the Petroleum and Natural Gas Ministry announced on TuesdaynbspMore than 50 lakh domestic LPG cylinders are being delivered daily on average since March 1 2026 and no dryouts have been reported at LPG distributorships Besides over 32 lakh 5 kg cylinders have been sold to migrant labourers since March 23 with more than 63000 sold on Monday a ministry statement saidIn the case of piped natural gas PNG and CNG for vehicles priority has been accorded to consumers with 100 per cent supply to meet demand Supplies to industrial and commercial consumers connected to the grid are being maintained at around 80 per cent of their average consumption it addedMeasures have been put in place to ensure the uninterrupted availability of petroleum products and LPG across the country in view of the closure of the Strait of Hormuz the statement saidAll refineries are operating at high capacity with adequate crude inventories and sufficient stocks of petrol and diesel are being maintained while domestic LPG production from refineries has been increased to support local consumption it saidAll petrol pumps are operating normally across the country However instances of panic buying due to rumours have been noticed in certain areas resulting in unusually high sales and crowding at retail outlets However adequate stocks of petrol and diesel are available at all petrol pumps across the country the statement highlightedThe government has reiterated its advice to the public not to believe rumours and has requested state governments to disseminate correct information through press briefingsOnline LPG bookings have increased to around 92 per cent while the delivery authentication code DAC based deliveries have increased from 53 per cent in February 2026 to 83 per cent at present helping prevent diversionCommercial LPG supply has been restored to 70 per cent of precrisis levels including reformbased allocations The latest additional allocation prioritises industries such as steel automobile textile chemicals and plastics especially process industries requiring specialised heatingMost states and UTs have issued orders for nondomestic LPG allocation with around 41503 MT uplifted since March 14City gas distribution CGD entities have been advised to prioritise PNG connections for commercial establishments such as restaurants hotels and canteens to address concerns regarding commercial LPG availabilityCGD entities have also been directed to prioritise PNG connections for residential schools colleges hostels community kitchens and Anganwadi kitchens within 5 days where pipelines are availableSupply to operating urea fertiliser plants is now steady at around 7075 per cent of their last 6month average consumption Additional LNG cargoes and Regasified LNG RLNG are also being sourced to maintain the supplies and pipeline hydraulicsCGD companies including IGL MGL GAIL Gas and BPCL are offering incentives to promote domestic and commercial PNG connectionsThe Centre has requested states UTs and Central Ministries to expedite approvals for CGD network expansionAn additional 10 per cent allocation of commercial LPG has been offered to states and UTs to support longterm transition from LPG to PNG with allocations recommended based on reform measures undertaken by statesIANS https://dailyworld.in/business/31-lakh-png-connections-gasified-in-march-27-lakh-more-being-added-667357.html Tue, 31 Mar 2026 16:37:00 +0530 https://dailyworld.in/business/rupee-opens-1-pc-higher-against-us-dollar-on-rbi-measures-667175.html New Delhi March 30 The Indian rupee opened higher by 13 per cent to reach 9359 per US dollar on Monday over the Reserve Bank of Indiaâs RBI restrictions on onshore position limits The RBI has instructed banks to limit their net open positions in rupees in the foreign exchange market to 100 million in a bid to curb speculative trading to cap decline in the Indian rupeeIt ordered banks acting as authorised dealers to limit their endâofâday open positions in the onshore rupee to 100 million The central bank mandated that commercial banks must implement the daily cap by April 10 adding that the regulator may set different limits depending on evolving market conditionsEstimates suggest that the magnitude of these positions ranges from 25 billion to over 50 billionIn March the rupee fell by more than 4 per cent amid the geopolitical tensions On Friday the currency fell nearly 1 per cent to 948125 reaching 948400Analysts said concerns over elevated crude prices for a prolonged period are weighing on the currency and the broader macroeconomic outlookWith the West Asia conflict entering the fifth week there are signs of escalation including the Houthis joining the conflict and the US sending additional troops Brent crude has again surged to around 116 per barrel they saidIndiaâs earlier Goldilocks macroeconomic scenario of high growth low inflation and stable deficits has weakened due to the conflictInstead we now face prospects of lower GDP growth higher inflation wider fiscal and current account deficits and slower earnings growth in FY27 they addedThe analysts said the market has largely factored in these risks as reflected in the decline in the Niftyâs trailing pricetoearnings PE ratio to around 199 times which they described as fair but not yet cheap However they pointed out that certain segments particularly financials remain attractively valuedThey further noted that the RBIâs move to cap net open positions is likely to support the rupee in the near termUnwinding of large dollar positions could strengthen the rupee in the near term they saidSustained dollar demand and energyled inflation risks are keeping the rupee under pressure they added noting that the bias remains weak unless crude prices see a meaningful correctionMeanwhile Brent crude futures surged as much as 366 per cent to an intraday high of 11670 per barrel and were trading near their 52week high while US WTI futures stood at 10338 up 375 per cent from the previous session IANS https://dailyworld.in/business/rupee-opens-1-pc-higher-against-us-dollar-on-rbi-measures-667175.html Mon, 30 Mar 2026 13:40:00 +0530 https://dailyworld.in/business/crude-oil-prices-jump-over-3-pc-nears-52-week-high-667181.html New Delhi March 30 Global oil prices surged sharply on Monday amid escalating tensions in West Asia following the entry of Yemenâs Iranbacked Houthi group into the conflict International benchmark Brent crude futures rose as much as 366 per cent to an intraday high of 11670 per barrel nearing a fresh 52week high US benchmark West Texas Intermediate WTI also climbed over 3 per cent to cross 103 per barrelThe latest spike in crude prices follows weekend missile launches by Houthi forces targeting Israel The group has warned of continued attacks until strikes on Iran and its allied militias cease adding a new layer of risk to already strained global energy marketsBrent prices have surged over 50 per cent in March and are now revisiting earlywar highs despite ongoing diplomatic effortsAnalysts said crude oil remains the most critical macro variable at this stageâMarket participants are increasingly pricing in a prolonged supply disruption scenario with some global estimates indicating a potential spike towards 200 per barrel if tensions persistâ they saidThey added that for an importdependent economy like India this poses risks of higher inflation pressure on corporate margins and a deteriorating current account outlookOn the global front equity markets were also under pressure with US and Asian stocks trading in negative territoryWall Street ended lower with the SampP 500 closing 167 per cent down while the Nasdaq declined about 2 per centIn Asia Japanâs Nikkei plunged nearly 4 per cent while Hong Kongâs Hang Seng declined over 1 per cent and South Koreaâs Kospi slipped almost 3 per centIn addition domestic equity indices Sensex and Nifty also began the session on a weak note declining over 1 per cent each in early trade as the West Asia conflict entered its fifth week and widened further IANS https://dailyworld.in/business/crude-oil-prices-jump-over-3-pc-nears-52-week-high-667181.html Mon, 30 Mar 2026 13:44:00 +0530 https://dailyworld.in/business/gold-silver-prices-fall-up-to-2-pc-amid-weak-global-cues-667187.html New Delhi March 30 Gold and silver prices witnessed sharp losses on Monday tracking declines in global bullion markets amid fading hopes of a US Federal Reserve rate cut and rising inflation concerns On the Multi Commodity Exchange MCX gold contracts for June 5 delivery opened 027 per cent lower at Rs 146850 per 10 grams as against the previous close of Rs 147255 The yellow metal declined sharply during the session falling as much as Rs 3043 or 206 per cent to hit an intraday low of Rs 144212 per 10 gramsSilver futures May 5 also came under pressure declining as much as 096 per cent to Rs 225763 per kg compared to the previous close of Rs 227954In the international market gold prices fell as a surge in energy prices due to the ongoing USIran conflict heightened inflation concerns and dampened expectations of interest rate cuts by the US Federal Reserve this yearSpot gold declined 161 per cent to 442048 per ounce while spot silver dropped around 3 per cent to 6769 per ounceIn addition COMEX gold fell 169 per cent to 444750 while COMEX silver slipped nearly 3 per cent to 6772Gold prices have declined around 15 per cent so far this month marking their steepest monthly fall since October 2008 The drop has been driven by a stronger US dollar which has gained over 2 per cent since the USIsrael conflict with Iran began on February 28 Silver prices have also plunged nearly 30 per cent from their March peakAnalysts said gold continues to trade with a weak undertone despite intermittent safehaven demand arising from geopolitical tensionsThey further stated that the nearterm outlook for precious metals remains cautious with prices likely to be driven by macroeconomic cues interest rate expectations and geopolitical developments IANS https://dailyworld.in/business/gold-silver-prices-fall-up-to-2-pc-amid-weak-global-cues-667187.html Mon, 30 Mar 2026 13:51:00 +0530 https://dailyworld.in/business/black-box-completes-preferential-issue-receives-rs-386-crore-from-warrant-conversion-667196.html Mumbai March 30 Black Box Limited BSE 500463 NSE BBOX a leading global digital infrastructure solutions provider on Monday announced the successful receipt of Rs 38636 crore pursuant to the conversion of warrants issued on September 27 2024 The Company has converted 9265215 warrants into equity shares at an issue price of Rs 417 per share All warrant holders have exercised their rights in full with no forfeiture or withdrawalThe timely and complete conversion despite a volatile equity market environment reflects strong investor and promoter confidence in Black Boxâs business fundamentals growth strategy and execution capabilitiesPromoters participated meaningfully in the issue contributing Rs 200 crore representing 5176 per cent of the total infusion Following the conversion promoter shareholding stands at 6999 per cent underscoring continued longterm commitment and alignment with all shareholdersSanjeev Verma Chief Executive Officer of Black Box Limited said âWe are pleased to announce the successful completion of this capital raise with full participation from both promoters and investors The infusion of Rs 386 crore strengthens our balance sheet and provides additional flexibility to accelerate our growth agenda We remain focused on scaling our digital infrastructure capabilities expanding our market presence and delivering consistent value to our customers and shareholdersâDeepak Bansal Chief Financial Officer of Black Box Limited added âWe thank our investors for their continued trust and support This capital enhances our ability to invest in priority growth areas while maintaining a disciplined approach to capital allocation operational efficiency and returns We are wellpositioned to capitalise on emerging opportunities across our marketsâ IANS https://dailyworld.in/business/black-box-completes-preferential-issue-receives-rs-386-crore-from-warrant-conversion-667196.html Mon, 30 Mar 2026 13:58:00 +0530 https://dailyworld.in/business/chhattisgarh-cm-inaugurates-ambikapur-new-delhi-flight-kolkata-service-from-april-2-667206.html Raipur March 30 Chhattisgarh Chief Minister Vishnu Deo Sai on Monday virtually inaugurated direct flight services from Maa Mahamaya Airport in Ambikapur to New Delhi and Kolkata The inauguration was conducted from Raipur while local MP Chintamani flagged off the flight from Maa Mahamaya Airport Darima Airport Darima Airport originally built in 1950 was upgraded in 2021 to handle 72seater aircraft Under the new schedule flights will operate twice a week to Delhi and twice a week to Kolkata with both services making a stop at BilaspurThe AmbikapurDelhi service will be operated on a 72seater ATR aircraft with a fare of Rs 6500 The AmbikapurKolkata service starting April 2 will run on Thursdays and Saturdays at a fare of Rs 6000The launch of these flights has brought immense joy to residents of Ambikapur and the surrounding Surguja division a tribaldominated region in northern Chhattisgarh Locals believe the new air services will save travel time reduce fatigue and boost business tourism and connectivityOn Mondays the DelhiAmbikapur flight will depart Delhi at 750 am reach Bilaspur at 1025 am and arrive in Ambikapur at 1140 am It will then depart Ambikapur at 1205 pm and return to Delhi by 235 pm On Wednesdays the flight will leave Delhi at 750 am reach Ambikapur at 1025 am depart at 1050 am for Bilaspur and finally return to Delhi at 250 pmSpeaking on the occasion Chief Minister Vishnu Deo Sai said the AmbikapurKolkata flight will soon start and the government also has plans to start flights to Ayodhya and Varanasi âWe will soon launch flight services as work is going on Jagdalpur Ambikapur Raigarh and other airports will be extended and developed further â he saidLocal MP boarded the plane to inaugurate the service The Raipur airport he said will soon have a cargo airport A memorandum of understanding has been signed in this regardMaa Mahamaya Airport located at Darima near Ambikapur was virtually inaugurated by Prime Minister Narendra Modi on October 20 2024 Spread over 365 acres and developed at a cost of around Rs 80 crore the airport is expected to accelerate development in Surguja by providing modern air connectivitySurguja MP Chintamani described the launch as a âhistoric momentâ for the region Former Deputy Chief Minister TS Singh Deo also welcomed the development saying work was now moving in the right directionOn Sunday CM Sai inaugurated night flight operations at Bilasa Devi Kevat Airport in Bilaspur He personally travelled on the inaugural night flight from Bilaspur to Raipur accompanied by MLA Dharamjit SinghFollowing the airportâs upgrade the Directorate General of Civil Aviation DGCA granted permission for night operations under the 3C IFR category on February 6With this facility scheduled commercial flights as well as emergency and medical services can now operate during nighttime hoursChief Minister Sai said the launch of night flights would significantly enhance lifesaving medical services and boost trade tourism and investment in the region He urged citizens to make full use of the new facility and extended best wishes for safe and pleasant journeysThis development marks a major boost to regional aviation infrastructure in Chhattisgarh particularly in smaller cities and tribal areas IANS https://dailyworld.in/business/chhattisgarh-cm-inaugurates-ambikapur-new-delhi-flight-kolkata-service-from-april-2-667206.html Mon, 30 Mar 2026 14:08:00 +0530 https://dailyworld.in/business/lok-sabha-approves-insolvency-and-bankruptcy-code-amendment-bill-667211.html New Delhi March 30 IANS The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code Amendment Bill aimed at speeding up insolvency proceedings to resolve cases related to defaulting companiesnbspThe Bill introduces a mandatory 14day timeline for admitting insolvency applications once a companys default has been establishedFinance Minister Nirmala Sitharaman said that the government has proposed a set of 12 amendments to the Insolvency and Bankruptcy Code to further strengthen the resolution ecosystemnbspSitharman said the primary reason for IBC resolution delays is extensive litigation and the IBC Bill proposes penalties to prevent abuse of processnbspThe Lok Sabha took up the Bill moved by Finance Minister Nirmala Sitharaman for discussion on March 27 The Bill which was initially referred to a Select Committee has been introduced to address the delays in resolving cases related to the insolvency and bankruptcy of a company or individualFM Sitharaman said in the Lower House that the Insolvency and Bankruptcy Code IBC has played a key role in improving the health of the banking sector while underlining that the law was never intended to function as a debt recovery mechanismnbspSpeaking in the Lok Sabha while piloting the Bill the finance minister said the IBC has contributed to better credit discipline and improved the credit profile of companiesnbspThe minister said companies have been doing well and their corporate governance practices have also improved after coming out of the insolvency resolution processShe made the remarks while replying to the Insolvency and Bankruptcy Code Amendment Bill 2025 as reported by the Select Committee The Insolvency and Bankruptcy Code which came into force in 2016 has been a main factor in improving the overall health of the Indian banking sector Sitharaman said adding that the framework has also helped companies achieve better credit ratings over timenbspAt the same time she said the objective of the law is the resolution of stressed assets and not merely the recovery of dues IBC is a framework for rescuing viable businesses and resolving financial stress while preserving the enterprise value IBC was never intended to be a debt recovery tool she explainedIANS https://dailyworld.in/business/lok-sabha-approves-insolvency-and-bankruptcy-code-amendment-bill-667211.html Mon, 30 Mar 2026 14:23:00 +0530 https://dailyworld.in/business/over-650-youth-compete-in-indiaskills-national-competition-667214.html New Delhi March 30 The government has commenced IndiaSkills National Competition 2025â26 by bringing together over 650 participants from across the country to compete across 63 skill categories The programme which is organised under the Ministry of Skill Development and Entrepreneurship MSDE and supported by the National Skill Development Corporation NSDC features top performers selected from regional rounds held across the countryThe government has launched the event aimed at promoting skill excellence and building a futureready workforce in line with national prioritiesAddressing the gathering Debashree Mukherjee Secretary MSDE said that platforms like IndiaSkills play a key role in encouraging youth to pursue skillbased careers and excel in their chosen domainsShe added that India is preparing to send a strong contingent to the WorldSkills Competition in Shanghai reflecting the countryâs growing focus on building a globallycompetitive skilled workforceManisha Sensarma Senior Economic Adviser at MSDE said the initiative is part of efforts to build a structured and industryaligned skilling ecosystem with participation from over 200 industry partners across multiple sectorsNSDC CEO Arunkumar Pillai highlighted the importance of industry collaboration noting that the competition aligns training with realworld requirements and global standardsThe current edition has recorded over 365 lakh registrations from across 36 states and Union Territories through the Skill India Digital Hub reflecting growing interest among youth in skillbased careers the government saidIt further stated that the competition covers a wide range of domains including traditional skills such as electrical installation and electronics as well as emerging areas like cyber security additive manufacturing autonomous mobile robotics and Industry 40Participants will be assessed by industry experts on parameters such as precision efficiency and adherence to global standardsOf the 63 categories 43 are being conducted onsite while the remaining are being evaluated through offsite formatsWinners of the national competition will go on to represent India at the WorldSkills Competition Shanghai 2026 The event will continue until April 2 IANS https://dailyworld.in/business/over-650-youth-compete-in-indiaskills-national-competition-667214.html Mon, 30 Mar 2026 14:43:00 +0530 https://dailyworld.in/business/bangladesh-pakistan-face-big-risk-on-economic-front-due-to-iran-war-report-667215.html New Delhi March 30 The Middle East crisis poses a greater risk to Bangladesh Pakistan and Sri Lanka among the South Asian countries due to their high dependence on imported energy and limited reserve supplies according to an SampP Global Ratings report Since these countries are particularly vulnerable to rising oil prices and potential supply disruptions a prolonged price and supply shock in global energy markets could hit their sovereign credit ratings the report statesSampP Global Ratings which provides analystdriven credit ratings research and sustainable finance opinions said such insights are essential for helping market participants translate complexity into clarity and make decisions with confidencePakistan Sri Lanka and Bangladesh are showing signs of economic recovery While progress has been made sustained high energy prices and potential disruptions to trade and remittances could derail their fragile economies the report states It also points out that Laos is comparatively less exposed due to its reliance on hydropower generation and a more balanced fiscal position While still vulnerable to extended energy price and supply shocks the conditions supporting the positive outlook on its longterm ratings remain intact for nowOur ratings on Bangladesh can likely withstand the shortterm economic disruptions associated with our basecase scenario the credit rating agency saidHowever the country faces mounting risks to growth inflation and its external balance if the rise in energy prices persists longer than anticipatedHigher fuel prices are likely to stall the gradual decline in inflation over the next three to six months and could weaken the economys recovery momentum The report points out that the Bangladesh economy is almost entirely reliant on imports for crude and refined oil products Oil reserves are likely to last less than one month after which measures to curb consumption may become more stringent if imports remain constrainedNearly 50 per cent of Bangladeshs electricity generation is gasfired with almost a quarter of its gas demand met through imports which could also potentially take a hit in case of a prolonged West Asia conflictThe country is already grappling with persistently high inflation which rose to 92 per cent in February from 86 per cent in January alongside a prolonged slowdown in growth following the collapse of the previous government in mid2024Bangladeshs revenuetoGDP ratio is among the lowest of all rated sovereigns estimated at around 9 per cent for the current fiscal year ending June 2026The war also poses an unwelcome headwind to Bangladeshs improving external balance position Foreign exchange reserves rose to 296 billion as of March 12 2026 up significantly from 197 billion during the same period in 2025 the report added IANS https://dailyworld.in/business/bangladesh-pakistan-face-big-risk-on-economic-front-due-to-iran-war-report-667215.html Mon, 30 Mar 2026 14:43:00 +0530 https://dailyworld.in/business/govt-clears-29-electronics-manufacturing-proposals-rs-7-104-cr-investment-to-generate-over-14-000-jobs-667217.html New Delhi March 30 The government on Monday approved 29 new applications under its electronics component manufacturing scheme aiming to boost domestic production and investment in the sector According to S Krishnan Secretary at the Ministry of Electronics and IT MeitY these fresh proposals involve a cumulative investment of Rs 7104 croreHe added that the new investments are expected to generate around 14246 jobs providing a significant push to employment in the electronics manufacturing segmentKrishnan also said that the approved projects will lead to the production of electronic components worth Rs 84515 croreâThis will strengthen Indiaâs position in the global electronics supply chainâ he statedWith the latest round of approvals the total number of applications cleared under the scheme has now reached 75Meanwhile last year the top official said that Indiaâs digital economy which accounted for about 67 per cent of the countryâs GDP before 2010 and had doubled by 2014 is now expanding at twice the pace of the overall economyAddressing the Nagaland Digital Entrepreneurship and Startup Fest in December last year Krishnan highlighted the abundant talent among Naga youth particularly their creativity and English proficiency and emphasised the role of institutions like the National Institute of Electronics amp Information Technology NIELIT in nurturing this potentialâOut of 55 NIELIT centres in India 20 are located in the Northeast regionâ he mentionedâThe digital economy is expanding at twice the pace of the overall economyâ Krishnan notedSpeaking on cyber security he stressed that India cannot depend on foreign technologies in this critical areaHe described the Cyber Security Lab at NIELIT Kohima as stateoftheart and among the best in the country contributing significantly to cyber policing IANS https://dailyworld.in/business/govt-clears-29-electronics-manufacturing-proposals-rs-7-104-cr-investment-to-generate-over-14-000-jobs-667217.html Mon, 30 Mar 2026 14:46:00 +0530 https://dailyworld.in/business/lok-sabha-approves-insolvency-and-bankruptcy-code-667225.html New Delhi March 30 The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code Amendment Bill aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies The Bill introduces a mandatory 14day timeline for admitting insolvency applications once a companyâs default has been establishedFinance Minister Nirmala Sitharaman said that the government has proposed a set of 12 amendments to the Insolvency and Bankruptcy Code to further strengthen the resolution ecosystemSitharman said the primary reason for IBC resolution delays is extensive litigation and the IBC Bill proposes penalties to prevent abuse of processThe Lok Sabha took up the Bill moved by Finance Minister Nirmala Sitharaman for discussion on March 27 The Bill which was initially referred to a Select Committee has been introduced to address the delays in resolving cases related to the insolvency and bankruptcy of a company or individualFM Sitharaman said in the Lower House that the Insolvency and Bankruptcy Code IBC has played a key role in improving the health of the banking sector while underlining that the law was never intended to function as a debt recovery mechanismSpeaking in the Lok Sabha while piloting the Bill the finance minister said the IBC has contributed to better credit discipline and improved the credit profile of companiesThe minister said companies have been doing well and their corporate governance practices have also improved after coming out of the insolvency resolution processShe made the remarks while replying to the Insolvency and Bankruptcy Code Amendment Bill 2025 as reported by the Select Committee âThe Insolvency and Bankruptcy Code which came into force in 2016 has been a main factor in improving the overall health of the Indian banking sector Sitharaman said adding that the framework has also helped companies achieve better credit ratings over timeAt the same time she said the objective of the law is the resolution of stressed assets and not merely the recovery of dues âIBC is a framework for rescuing viable businesses and resolving financial stress while preserving the enterprise value IBC was never intended to be a debt recovery tool she explained IANS https://dailyworld.in/business/lok-sabha-approves-insolvency-and-bankruptcy-code-667225.html Mon, 30 Mar 2026 15:24:00 +0530 https://dailyworld.in/business/india-sees-healthy-expansion-in-total-primary-energy-supply-renewable-resources-surge-667227.html New Delhi March 30 The Indian economy has shown a healthy expansion in the total primary energy supply TPES in FY202425 registering a growth of 295 per cent over the past year and stood at 932816 KToE kilo tonnes of oil equivalent the government said on Monday The country has a huge potential for generation of renewable energy which stands at 4704043 megawatt as on March 31 2025 In the total potential solar energy has witnessed a staggering growth from 748990 megawatt during FY202324 to 3343378 megawatt during FY202425 with highest share around 71 per cent followed by wind power 1163856 megawatt and large hydro 133410 according to the âEnergy Statistics India 2026â publication by the National Statistics Office NSOMore than 70 per cent of the total potential for generation of renewable energy is concentrated in six states â Rajasthan Maharashtra Gujarat Andhra Pradesh Karnataka and Madhya PradeshThe percapita consumption of energy over the years has gone up from 15296 mega jouleperson during FY201516 to 18096 mega Jouleperson during FY 202425 which is a CAGR of 189 per cent over the years said the reportMoreover the credit flow to the energy sector in India has also experienced a steadfast growth over the years From an amount of Rs 1688 crore during 2021 it has gone up to Rs 10325 crore during 2025 which is a growth of over six times during this periodThe gross generation of electricity from the renewable resources both Utility and NonUtility together has also increased significantly over the yearsFrom an amount of 189314 GWH of electricity generated during FY 201516 it has increased to 416823 GWH during FY 202425 which is a CAGR of 917 per cent over the yearsAmong all the major energy supply sources coal has remained the dominant source contributing the highest share to the total energy supplyEnergy supply from coal including lignite has increased from 387761 Ktoe in FY 201516 to 552315 Ktoe in FY 202425 All other sources like crude oil and natural gas etc have also registered a consistent growth over the periods The total final consumption TFC of energy into different enduse sectors has also experienced a steady rise IANS https://dailyworld.in/business/india-sees-healthy-expansion-in-total-primary-energy-supply-renewable-resources-surge-667227.html Mon, 30 Mar 2026 15:26:00 +0530 https://dailyworld.in/business/govt-launches-leaf-to-boost-ev-charging-ecosystem-667228.html New Delhi March 30 Union Minister for Heavy Industries and Steel HD Kumaraswamy on Monday launched the Light ElectricVehicle Acceleration Forum LEAF an industryled consortium aimed at strengthening the EV charging ecosystem The forum has been set up as a neutral platform to bring together stakeholders across the light electric vehicle LEV ecosystem including original equipment manufacturers OEMs charging infrastructure operators component makers and technology providersIt will work with government and regulatory bodies as well as industry associations to support the development of EV charging infrastructure and accelerate the adoption of electric two and threewheelers in the countryIn a post on X the minister said the initiative would help accelerate the growth of light electric mobility and strengthen the EV ecosystem through improved interoperability reliability and expanded charging infrastructureHe said the move aligns with the governmentâs vision of building a selfreliant and futureready India while advancing broader goals of sustainable mobility and reducing carbon emissionsKumaraswamy also emphasised the importance of strong industrygovernment collaboration to create a sustainable accessible and globally competitive electric mobility ecosystemThe initiative aims to improve interoperability across charging networks enhance reliability and ensure a consistent user experience while expanding access to public charging infrastructureAs part of this effort initiatives such as the Light Electric Combined Charging System LECCS approved by the Bureau of Indian Standards are being developed to support both slow and fast charging through a unified connector standardThe forum has already brought together over 20 organisations from across the EV ecosystem including vehicle manufacturers charge point operators suppliers and software providers and is expected to expand its membership in the coming monthsIndustry representatives said that as EV adoption gains momentum in India addressing challenges such as fragmented charging networks and inconsistent user experience will be critical for the next phase of growthThey added that improving interoperability and building a scalable public charging ecosystem would play a key role in accelerating electric mobility in the country IANS https://dailyworld.in/business/govt-launches-leaf-to-boost-ev-charging-ecosystem-667228.html Mon, 30 Mar 2026 15:27:00 +0530 https://dailyworld.in/business/locker-loss-cover-fixed-at-100-times-annual-rent-nirmala-sitharaman-667235.html New Delhi March 30 The standard insurance coverage for bank locker holders is fixed at 100 times the annual locker rent in case of any loss Finance Minister Nirmala Sitharaman said on Monday Replying to a supplementary question in the Lok Sabha during Question Hour FM Sitharaman clarified that banks are not allowed to check or record the valuables kept by customers in lockers as doing so would violate banking regulationsBecause of this restriction it is not possible to offer insurance coverage based on the actual value of items stored the Finance Minister statedFM Sitharaman explained that any attempt by banks to monitor what customers store in lockers would amount to a breach of privacy and rulesThe minister said that since banks cannot inspect or evaluate locker contents a uniform rule has been put in placeUnder this customers are entitled to compensation of up to 100 times the annual locker rent in case of loss such as theft or damage FM Sitharaman explainedThe finance minister added that offering separate or differential insurance coverage for each locker is not practical under the current systemâAs of now there is no proposal under consideration to change this arrangementâ FM Sitharaman statedMeanwhile earlier in the day the Parliament approved the Finance Bill 2026 with the Rajya Sabha returning it to the Lok Sabha by a voice vote completing the legislative process to provide the legal backing for the proposals of the Union Budget 202627 to kick in during the new financial year beginning from April 1The Lok Sabha passed the bill on March 25 along with 32 amendments The Rajya Sabha returned the bill after a brief discussion and Finance Minister Sitharamans reply to questions raised by Members of Parliament on her budget proposals IANS https://dailyworld.in/business/locker-loss-cover-fixed-at-100-times-annual-rent-nirmala-sitharaman-667235.html Mon, 30 Mar 2026 16:19:00 +0530 https://dailyworld.in/business/domestic-investors-cushion-the-fall-amid-persistent-foreign-outflows-666976.html New Delhi March 29 Amid the persistent foreign outflows domestic institutional investors DIIs continue to provide strong support emerging as net buyers to the tune of Rs 26897 crore last week effectively absorbing the selling pressure from FIIs This continued domestic participation helped cushion the downside and provided stability near key support zones said analystsâForeign institutional investors FIIs remained consistent net sellers throughout the week with cumulative outflows of approximately Rs 24596 crore driven by global uncertainty rising bond yields and a stronger US dollarâ said Ponmudi R CEO Enrich Money a SEBIregistered online trading and wealthtech firmDespite DII dominance over FII outflows overall market sentiment remains weak clearly reflecting the impact of broader global and macroeconomic headwinds he mentionedAs of March 27 FIIs extended their aggressive selling in Indian equities This pushed March MTD monthtodate outflows past Rs 113 lakh crore â the sharpest singlemonth selloff in FY26 â driven by West Asia tensions and elevated oil prices âDIIs countered strongly with Rs 25000 crore of net buying weekly cushioning the fallâ said Vinit Bolinjkar Head of ResearchVenturaNearterm outlook stays cautious and âwe expect rangebound action and elevated VIX until global risk sentiment easesâ he mentioned âYet robust domestic flows and any deescalation in geopolitics should limit downside favouring quality largecaps and domestic themes over highbeta playsâ said Bolinjkar Meanwhile the Indian equity benchmarks closed lower for the fifth consecutive week amid persistent geopolitical tensions elevated crude oil prices and sustained foreign outflowsNifty dipped 128 per cent during the week and declined 209 per cent on the last trading day to settle at 22819 At close Sensex was down 1690 points or 225 per cent at 73583 It declined 127 per cent during the weekBoth indices remained volatile and under pressure throughout the week although they attempted intermittent recoveries during the week IANS https://dailyworld.in/business/domestic-investors-cushion-the-fall-amid-persistent-foreign-outflows-666976.html Sun, 29 Mar 2026 10:14:00 +0530 https://dailyworld.in/business/rising-crude-oil-prices-middle-east-tensions-likely-to-drive-dalal-street-next-week-667024.html Mumbai March 29 The Indian stock market ended the week on a weak note extending its losing streak for the fifth straight week as rising crude oil prices a falling rupee and escalating tensions in the Middle East dampened investor sentiment These global factors are now expected to remain the key triggers for market movement in the coming weekOn Friday March 27 both benchmark indices Sensex and Nifty saw sharp declines of over 2 per cent eachThe Sensex plunged 1690 points or 225 per cent to close at 73583 while the Nifty dropped 487 points or 209 per cent to settle at 2281960Commenting on Nifty technical outlook experts said that a decisive breakdown below the 22700â22500 range can accelerate selling pressure potentially dragging the index towards the 22000â21744 zone which aligns with the 52week low regionâOn the upside 23000â23100 now acts as immediate resistance followed by a stronger supply zone in the 23300â23500 rangeâ an analyst mentionedThe broader markets also remained under pressure with midcap and smallcap indices ending lowerThe ongoing geopolitical tensions in the Middle East have emerged as a major concern for global marketsUncertainty around possible negotiations between the United States and Iran continues to keep investors on edgeRising crude oil prices are further weighing on sentiment Brent crude has surged above 112 per barrel marking a sharp rally since the conflict beganHigher oil prices are a concern for India which depends heavily on imports as they can fuel inflation and widen the trade deficitThe Indian rupee has also been under pressure slipping past the 94 mark against the US dollarAt the same time safehaven demand has pushed gold and silver prices higher Both metals saw strong buying interest on Friday rising over 3 per cent as investors looked for protection amid global uncertainty The movement in precious metals indicates continued risk aversion in global markets IANS https://dailyworld.in/business/rising-crude-oil-prices-middle-east-tensions-likely-to-drive-dalal-street-next-week-667024.html Sun, 29 Mar 2026 15:54:00 +0530 https://dailyworld.in/business/nse-to-launch-platts-linked-dated-brent-crude-futures-from-april-13-667026.html Mumbai March 29 The National Stock Exchange NSE is set to launch a new crude oil futures contract linked to global benchmark prices from April 13 in a move aimed at strengthening Indiaâs commodity derivatives market The exchange said it will introduce Dated Brent Crude Oil Platts futures in its commodity derivatives segment after receiving approval from the Securities and Exchange Board of India SEBIThe new contract will be based on the SampP Global Energy Platts Dated Brent assessment which is widely used across the world as a benchmark to track physical crude oil pricesIt will be traded under the symbol BRCRUDEOIL with contracts available on a monthly basisTrading in these futures will take place from Monday to Friday between 900 am and 1130 pm or 1155 pm depending on US daylight saving timeThe contracts will be cashsettled meaning traders will not have to deal with the physical delivery of crude oilThe final settlement price will be calculated using the monthly average of Platts Dated Brent pricesThis value will then be converted into Indian rupees using the reference exchange rate published by the Reserve Bank of India RBINSE said the contract will follow quality standards defined by SampP Global Energy Platts ensuring alignment with global market practicesWith this launch the exchange aims to fill a longstanding gap for Indian traders and companies who want exposure to global crude oil pricesUntil now many domestic participants have relied on other benchmarks or overseas exchanges to manage risks linked to international oil price movementsBy introducing a Plattsbased Dated Brent contract NSE is offering a product that more closely reflects realworld oil pricing used in global trade making it a useful tool for hedging and price discovery IANS https://dailyworld.in/business/nse-to-launch-platts-linked-dated-brent-crude-futures-from-april-13-667026.html Sun, 29 Mar 2026 15:56:00 +0530 https://dailyworld.in/business/top-7-firms-lose-rs-175-lakh-crore-in-market-cap-last-week-667038.html Mumbai March 29 The combined market valuation of seven of Indiaâs top10 most valued companies fell sharply by Rs 175 lakh crore last week amid global uncertainties and geopolitical tensions The decline came in a holidayshortened week when benchmark indices ended lower The Sensex dropped 94974 points or 127 per cent while the Nifty fell 2949 points also down 127 per centCommenting on Nifty technical outlook experts said that a decisive breakdown below the 22700â22500 range can accelerate selling pressure potentially dragging the index towards the 22000â21744 zone which aligns with the 52week low regionâOn the upside 23000â23100 now acts as immediate resistance followed by a stronger supply zone in the 23300â23500 rangeâ an analyst mentionedMarket experts said the week was marked by high volatility due to fluctuating global cues and rising tensions in West AsiaAccording to Ajit Mishra of Religare Broking early losses were driven by concerns over energy supply disruptions a weakening rupee that touched a record low and rising market volatilityâAlthough there was a brief recovery in the middle of the week on hopes of easing tensions between the US and Iran fresh selling pressure on Friday wiped out gains and pulled the indices lowerâ he statedAmong the biggest losers Reliance Industries saw its market valuation drop the most declining by Rs 897203 crore to Rs 1824 lakh croreHDFC Bank also witnessed a sharp fall with its valuation slipping by Rs 3724859 croreOther major companies that faced losses included State Bank of India which lost Rs 3539942 crore in market value and ICICI Bank whose valuation declined by Rs 812176 croreBharti Airtel Hindustan Unilever and Tata Consultancy Services also saw their market capitalisations fall during the weekHowever not all companies were hit Larsen amp Toubro emerged as the biggest gainer adding Rs 1805168 crore to its valuationBajaj Finance and Infosys also registered gains in their market capitalisationDespite the decline Reliance Industries continued to remain the most valued company in India followed by HDFC Bank Bharti Airtel State Bank of India ICICI Bank and Tata Consultancy Services IANS https://dailyworld.in/business/top-7-firms-lose-rs-175-lakh-crore-in-market-cap-last-week-667038.html Sun, 29 Mar 2026 16:13:00 +0530 https://dailyworld.in/business/55-lakh-lpg-refills-delivered-supply-normal-govt-667043.html New Delhi March 29 IANS The supply of domestic LPG cylinders is normal in the country with more than 55 lakh refills delivered on Saturday while another 64000 free trade 5 kg cylinders have also been sold and no dryouts have been reported at LPG distributorships the Ministry of Petroleum said on SundaynbspOnline LPG cylinder bookings have increased to 94 per cent on an industry basis and to prevent diversion at the distributor level Delivery Authentication Code DAC based deliveries have been increased from 53 per cent in February to 84 per cent the statement saidAll refineries are operating at high capacity with adequate crude inventories in place The country is also maintaining sufficient stocks of petrol and diesel Domestic LPG production from refineries has been increased to support domestic consumption All petrol pumps are operating normally across the countryThe government has requested consumers to make LPG bookings online and avoid visiting LPG distributorships Citizens are also requested to use alternative fuels like PNG and inductionelectric cooktops All citizens are also requested to make necessary efforts to conserve energy in their daily usageIn view of the continued closure of the Strait of Hormuz proactive measures are being undertaken to maintain the uninterrupted availability of petroleum products and LPG across the countryThere were certain rumours which led to panic buying at some retail outlets in a few states resulting in unusually high sales and heavy crowding However it is informed that there are adequate stocks of petrol and diesel available at all petrol pumps in the country The Government has reiterated its advice to the public not to believe rumoursRaids continue to be carried out in many of the states and UTs to check hoarding and black marketing of LPG About 2900 raids have been conducted and about 1000 cylinders have been seized on SaturdayOfficials of public sector oil marketing companies have conducted surprise inspections at more than 1200 RO and LPG distributorships on Saturday across the country to ensure smooth supplies and to check any hoarding or black marketing The oil companies have issued about 480 show cause notices to LPG distributorships till dateIANS https://dailyworld.in/business/55-lakh-lpg-refills-delivered-supply-normal-govt-667043.html Sun, 29 Mar 2026 18:17:00 +0530 https://dailyworld.in/business/two-indian-ships-with-lpg-cargo-sail-safely-out-of-gulf-region-667044.html New Delhi March 29 IANS Two Indian LPG carriers BW TYR and BW ELM carrying a combined LPG cargo of about 94000 metric tonnes have safely transited the Gulf region and are moving towards Indian shoresnbspBW TYR is proceeding towards Mumbai with an expected time of arrival on 31st March while BW ELM is en route to New Mangalore with an expected arrival date of 1st April according to a statement issued by the Ministry of Ports Shipping and Waterways on SundayAll necessary measures have been instituted to ensure the safety and security of Indian vessels and seafarers operating in the Gulf region All Indian seafarers in the region are safe and no incident involving Indianflagged vessels has been reported in the past 24 hours the statement saidA total of 18 Indianflagged vessels with 485 Indian seafarers remain in the western Persian Gulf region The Directorate General of Shipping DG Shipping in coordination with ship owners RPSL agencies and Indian Missions is actively monitoring the situationThe DG Shipping Control Room remains operational 24x7 and has handled 4523 calls and 8985 emails since activation In the past 24 hours 92 calls and 120 emails have been receivednbspDG Shipping has facilitated the safe repatriation of over 942 Indian seafarers so far including four in the last 24 hoursnbspPort operations across India remain normal with no congestion reported State Maritime Boards of Gujarat Maharashtra Goa Kerala Andhra Pradesh and Puducherry have confirmed smooth functioningThe Ministry of Ports and Shipping continues to coordinate with the Ministry of External Affairs Indian Missions and maritime stakeholders to ensure seafarer welfare and uninterrupted maritimenbsp operationsnbspContinuous outreach is being maintained by Indian Missions and Posts with the Indian community in the region alongside ongoing assistance and issuance of advisories to ensure their safety and wellbeing according to the Ministry of External AffairsThe Ministry is closely monitoring the evolving situation in the Gulf and West Asia region with the safety security and welfare of the Indian community as the highest prioritynbspA dedicated special control room remains operational to assist Indian nationals and their families with regular coordination being maintained with States and Union TerritoriesnbspMissions and Posts across the region are functioning roundtheclock operating 24x7 helplines and maintaining regular contact with Indian community associations Updated advisories are being issued regularly and Missions remain engaged with local authoritiesnbspAssistance continues to be extended to seafarers students stranded Indian nationals and shortterm visitors including visa consular and logistical support the statement addedIANS https://dailyworld.in/business/two-indian-ships-with-lpg-cargo-sail-safely-out-of-gulf-region-667044.html Sun, 29 Mar 2026 18:20:00 +0530 https://dailyworld.in/business/india-israel-farm-ties-poised-for-big-leap-667089.html New Delhi March 29 IANS The IndiaIsrael cooperation in agriculture has received a huge push with the announcement during Prime Minister Narendra Modis visit to Jerusalem last month of setting up more Centres of Excellence as hightech agricultural hubs and taking these further to the village level to ensure that the use of modern farm techniques percolates directly to the grassrootsnbspAt the heart of the IndiaIsraeli partnership have been Centres of Excellence CoEs hightech agricultural hubs codesigned by Israeli experts and Indian agricultural institutionsnbspWhile 32 of these are already operational 18 more have been under developmentnbspDuring this visit to Israel PM Modi announced their decision to take this number to 100 to ensure enhanced productivity and income for Indian farmersnbspThese CoEs have adapted Israeli innovations and best practices in drip irrigation fertigation protected cultivation pest management nursery technology and waterefficient horticulture to local Indian onditionsThese have trained thousands of Indian farmers across states from Punjab to Karnataka in new methods to boost the quality and quantity of cropsnbspWhile comprehensive statewide income data is still emerging early field surveys show that farmers participating in CoE and allied programmes have reported higher monthly net incomes thanks to better crop quality and reduced input waste according to an article in The Diplomatist magazinenbspIt is in this backdrop that Prime Minister Modi along with his Israeli counterpart Prime Minister Benjamin Netanyahu announced a new grassrootscentric initiative known as Villages of Excellence This shift from isolated demonstration plots to communitylevel transformation seeks to embed Israeli technologies directly into Indian village ecosystems It means farmers wont merely visit a CoE site they can experience tailored irrigation systems satellitebased soil monitoring and realtime decision support right in their home districts the article notedThis enduring partnership in the agriculture sector has ensured mutual benefit for both sides Indian farmers have learned new ways of saving water increasing yields and boosting incomes Israels precision systems from drip and microsprinkler irrigation to automated fertigation can cut water use by up to 4060 per cent compared to traditional surface irrigation a vital improvement in waterstressed regions of India the article saysIt highlights that in CoE sites horticulture crops tomato capsicum and melon yields have risen between 20 and 40 per cent within a few seasons as growers adopt controlled environments and calibrated nutrient regimesnbspBesides the training in postharvest handling and integrated pest management reduces losses has improved market value for smallholders which has resulted in major gains in states such as Maharashtra and Uttar PradeshLikewise Israeli farmers and agritech sectors have also benefitted as Indian demand provides Israeli technology firms especially those specialising in Artificial Intelligencedriven crop analytics sensors and automated irrigation systems with a vast field of laboratories and a commercial pathway which makes their partnership mutually beneficial the article addedIANS https://dailyworld.in/business/india-israel-farm-ties-poised-for-big-leap-667089.html Sun, 29 Mar 2026 19:54:00 +0530 https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-global-sell-off-and-oil-volatility-666780.html Mumbai March 27 Domestic equity benchmarks opened sharply lower on Friday tracking weak global cues and elevated Brent crude prices amid fading hopes of a resolution to the Iran conflict Nifty opened at 2317355 down 13290 points or 057 per cent while the Sensex fell around 400 points to 7488379 in early tradeBroader markets also remained under pressure with midcap and smallcap indices traded lowerSectorally most indices traded in the red led by realty metal PSU banks and auto stocks which fell up to 1 per cent Financials and consumer durables also witnessed selling pressureHowever IT and oil and gas stocks bucked the trend and posted modest gainsAmong heavyweights stocks such as HDFC Bank and Bajaj Finance were among the top laggardsMarket sentiment remained cautious amid ongoing geopolitical tensions US President Donald Trump said the pause on attacks on Iranâs energy infrastructure would be extended though uncertainty persists after Iran termed a US proposal âonesidedâGlobal markets also reflected a riskoff mood US indices ended sharply lower with the SampP 500 down 174 per cent and Nasdaq falling 238 per cent Asian markets followed suit with Japanâs Nikkei declining over 1 per cent and South Koreaâs Kospi dropping around 3 per centCrude oil prices remained volatile although they eased slightly with Brent crude falling 229 per cent to 10553 per barrel while WTI crude declined 254 per cent to 9208According to analysts markets are likely to remain volatile amid global uncertainties Immediate support for Nifty is seen in the 23050â23000 zone while resistance is placed around 23450â23500Foreign institutional investors FIIs continued to remain net sellers while domestic institutional investors DIIs provided support to the marketNotably Indian markets resumed trading on Friday after a holiday on Thursday on account of Ram Navami IANS https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-global-sell-off-and-oil-volatility-666780.html Fri, 27 Mar 2026 10:05:00 +0530 https://dailyworld.in/business/bajaj-housing-finance-shares-hit-record-low-slip-60-pc-from-peak-666805.html Mumbai March 27 Shares of Bajaj Housing Finance remained under pressure on Friday extending their prolonged downtrend and hitting a fresh alltime low on the stock exchanges The stock slipped nearly 4 per cent during the session to touch Rs 7629 on the National Stock Exchange NSEBy around noon the stock was hovering close to its dayâs low at Rs 7641 with strong trading activity as nearly 7 million shares changed handsThe sharp fall has brought the stock close to its issue price of Rs 70 with the current market price now less than 10 per cent above its IPO levelThe decline also means that the company has erased more than 85 per cent of the gains it made on its listing dayThe stock has seen a steep correction since hitting its record high of Rs 18850 on September 18 2024 shortly after its debut in the market From those levels the shares have dropped about 60 per centBajaj Housing Finance had launched its IPO at Rs 70 per share and delivered a strong debut listing at Rs 150 which translated into a gain of 114 per cent for investors on the first day of tradingFounded in 2008 the company is a subsidiary of Bajaj Finance and operates in the housing finance segmentIn the third quarter of FY26 the company reported a 6 per cent yearonyear decline in consolidated net profit at Rs 4066 croreHowever its total income rose more than 15 per cent yearonyear to Rs 21215 croreThe companyâs assets under management stood at Rs 488477 crore at the end of the December quarterIn last five days it dropped by 414 per cent The stock dropped 1229 per cent in last one month IANS https://dailyworld.in/business/bajaj-housing-finance-shares-hit-record-low-slip-60-pc-from-peak-666805.html Fri, 27 Mar 2026 14:49:00 +0530 https://dailyworld.in/business/retail-petrol-and-diesel-prices-wont-change-excise-cut-to-offset-oil-firms-losses-govt-666810.html New Delhi March 27 IANS The government on Friday said retail pump prices of petrol and diesel will not change and the excise reduction is not being passed on as a price cut at the pumpnbspInstead it directly reduces the underrecoveries being absorbed by public sector oil marketing companies OMCs Indian Oil Corporation Bharat Petroleum Corporation and Hindustan Petroleum Corporation who have continued to supply fuel to Indian consumers at prices well below their cost of supply the Petroleum Ministry saidAt current international crude prices underrecoveries stand at approximately Rs 26 per litre on petrol and Rs 8190 per litre on dieselnbspThe combined daily underrecovery being absorbed by OMCs is approximately Rs 2400 crorenbspThe excise reduction offsets Rs 10 per litre of these losses ensuring OMCs can continue to supply fuel without disruption while keeping retail prices unchanged said the ministrynbspThe government has reduced excise duty by Rs 10 per litre on both petrol and diesel with immediate effectThis decision has been taken in response to the steep and rapid rise in international crude oil prices which have surged from approximately 70 per barrel to around 122 per barrel over the past month an increase of nearly 75 per cent in under four weeks driven by the ongoing conflict in West Asia and associated disruptions to global energy supply chains the ministry saidnbspThe contrast with global fuel markets is instructive Fuel prices have risen by 30 to 50 per cent across South and SouthEast Asian countries 30 per cent in North America and 20 per cent in Europe since the onset of the current crisis India has held the line That stability carries a fiscal cost and the government has chosen to bear itEarlier in the day Minister for Petroleum and Natural Gas Hardeep Singh Puri said that Prime Minister Narendra Modi decided to take a hit on government finances to safeguard the Indian citizennbspThe government has taken a substantial impact on its taxation revenues to reduce the high losses being faced by oil marketing companies at this time of skyhigh international prices he mentionednbspAlongside the excise reduction the government has simultaneously introduced an export levy on diesel At a time when international diesel prices have surged sharply the levy is designed to disincentivise exports and ensure that refinery output is directed first towards meeting domestic demandnbspKeeping Indian pumps fully supplied takes precedence over export opportunities however commercially attractive those may be at current global prices The government will continue to monitor the evolving global energy situation and take all measures necessary to maintain supply stability and price protection for Indian consumersIANS https://dailyworld.in/business/retail-petrol-and-diesel-prices-wont-change-excise-cut-to-offset-oil-firms-losses-govt-666810.html Fri, 27 Mar 2026 15:12:00 +0530 https://dailyworld.in/business/dr-reddys-labs-to-change-drug-name-to-olymra-amid-court-scrutiny-report-666813.html New Delhi March 27 Major drug maker Dr Reddyâs Laboratories on Friday told the Delhi High Court that it will change the brand name of its semaglutide drug from Olymviq to Olymra a report said on Friday The company informed the court that it would propose a new brand name following the judgeâs observation that the existing name could lead to confusion in a pharmaceutical settingThe dispute comes as India opens up to generic versions of semaglutide following patent expiry triggering competition among drugmakers and disputes over brandingThe company also said it is the first Indian firm to receive approval from the Drugs Controller General of India for generic semaglutideThe case centres on whether Olymviq is too similar to Ozempic a widely used drug for diabetes and weight management as per NDTV ProfitThe company earlier announced that it has launched its injectable semaglutide under the brand name Obeda marking an important step in expanding access to GLP1 receptor agonistbased therapy for the management of Type 2 diabetes in IndiaWith this launch we aim to expand access to advanced diabetes therapies and address unmet patient needs in India said Erez Israeli Chief Executive Officer of Dr Reddyâs LaboratoriesDuring the hearing the court flagged the phonetic and visual similarity between the two names noting that such resemblance could lead to confusion among patients doctors and pharmacists the report addedEarlier the court had directed the company to halt the rollout and sale of the product over concerns of similarity with Novo Nordiskâs âOzempicâNovo Nordisk markets semaglutide under multiple brands including Ozempic Wegovy and RybelsusShares of Dr Reddyâs Laboratories traded around 2 per cent lower at Rs 127475 an intraday low on the BSE as of 2 pm IANS https://dailyworld.in/business/dr-reddys-labs-to-change-drug-name-to-olymra-amid-court-scrutiny-report-666813.html Fri, 27 Mar 2026 15:30:00 +0530 https://dailyworld.in/business/bangladeshs-fuel-import-bill-likely-to-jump-by-40-pc-due-to-middle-east-crisis-666817.html New Delhi March 27 Bangladeshâs annual fossil fuel import bill is projected to soar by 48 billion a 40 per cent increase from 2025 levels due to the Middle East crisis according to a new analysis by Zero Carbon Analytics ZCA âThis type of crisis is repeating itself echoing the price shocks caused by Russiaâs invasion of Ukraine causing the costs of Bangladeshâs dependence on fossil fuels and its delayed energy transition to mountâ the ZCA analysts wrote in its latest reportIt noted that the RussiaUkraine conflict had sent Bangladesh into an economic crisis with GDP levels only recovering in 2025 Asian liquefied natural gas LNG rose by 390 per cent in the year leading up to Russiaâs invasion followed by a 48 per cent increase in the five months after it resulting in power demand shortfalls and months of power cuts In October 2022 blackouts left 130 million people without powerThe hefty price tag driven by the ongoing conflict in the Middle East threatens to severely drain the countryâs foreign exchange reserves reducing its import cover ratio from 57 months to 49 monthsThe crisis exposes Dhakaâs deep vulnerability to volatile international energy markets as 46 per cent of the countryâs total energy supply came from imports in 2023 In the fiscal year 20242025 imports accounted for 65 per cent of its power needsMuch of this vital fuel flows through the Strait of Hormuz where shipping is now severely disrupted Bangladesh imports around 14 million tonnes of crude oil through the strait annually under longterm contracts with Saudi Aramco and Abu Dhabi National Oil CompanyAn Aramco cargo of 100000 tonnes bound for Bangladesh is already delayed in the Gulf because of the war noted the ZCA reportSupply pressures are emerging across multiple energy sectors Confirming the squeeze on refined products the Bangladesh Petroleum Corporation BPC reported in early March âAround 60000 tonnes out of the 293000 tonnes of diesel planned for import in March have been deferred or cancelledâSimultaneously Qatar which accounts for 75 per cent of Bangladeshâs LNG imports has suspended production and shipments Deep LNG dependence is driving fiscal distress across the power sectorSix out of seven LNG cargoes scheduled for April in the import plan of the stateowned Petrobangla which is mandated to manage oil gas and other mineral resources are expected to pass through the strait Delivery of half the remaining cargoes is uncertain according to reports IANS https://dailyworld.in/business/bangladeshs-fuel-import-bill-likely-to-jump-by-40-pc-due-to-middle-east-crisis-666817.html Fri, 27 Mar 2026 16:08:00 +0530 https://dailyworld.in/business/retail-petrol-and-diesel-prices-wont-change-excise-cut-to-offset-oil-firms-losses-govt-666818.html New Delhi March 27 The government on Friday said retail pump prices of petrol and diesel will not change and the excise reduction is not being passed on as a price cut at the pump Instead it directly reduces the underrecoveries being absorbed by public sector oil marketing companies OMCs â Indian Oil Corporation Bharat Petroleum Corporation and Hindustan Petroleum Corporation â who have continued to supply fuel to Indian consumers at prices well below their cost of supply the Petroleum Ministry saidAt current international crude prices underrecoveries stand at approximately Rs 26 per litre on petrol and Rs 8190 per litre on dieselThe combined daily underrecovery being absorbed by OMCs is approximately Rs 2400 croreThe excise reduction offsets Rs 10 per litre of these losses ensuring OMCs can continue to supply fuel without disruption while keeping retail prices unchanged said the ministryThe government has reduced excise duty by Rs 10 per litre on both petrol and diesel with immediate effectThis decision has been taken in response to the steep and rapid rise in international crude oil prices which have surged from approximately 70 per barrel to around 122 per barrel over the past month â an increase of nearly 75 per cent in under four weeks driven by the ongoing conflict in West Asia and associated disruptions to global energy supply chains the ministry saidThe contrast with global fuel markets is instructive Fuel prices have risen by 30 to 50 per cent across South and SouthEast Asian countries 30 per cent in North America and 20 per cent in Europe since the onset of the current crisis India has held the line That stability carries a fiscal cost and the government has chosen to bear itEarlier in the day Minister for Petroleum and Natural Gas Hardeep Singh Puri said that Prime Minister Narendra Modi decided to take a hit on government finances to safeguard the Indian citizenThe government has taken a substantial impact on its taxation revenues to reduce the high losses being faced by oil marketing companies at this time of skyhigh international prices he mentionedAlongside the excise reduction the government has simultaneously introduced an export levy on diesel At a time when international diesel prices have surged sharply the levy is designed to disincentivise exports and ensure that refinery output is directed first towards meeting domestic demandKeeping Indian pumps fully supplied takes precedence over export opportunities however commercially attractive those may be at current global prices The government will continue to monitor the evolving global energy situation and take all measures necessary to maintain supply stability and price protection for Indian consumers IANS https://dailyworld.in/business/retail-petrol-and-diesel-prices-wont-change-excise-cut-to-offset-oil-firms-losses-govt-666818.html Fri, 27 Mar 2026 16:09:00 +0530 https://dailyworld.in/business/coal-india-to-invest-rs-3-300-crore-for-setting-up-new-coking-coal-washeries-666825.html New Delhi March 27 Coal India announced on Friday that it plans to invest around Rs 3300 crore to set up 8 new coking coal washeries as part of its strategy to improve the quality of coal and reduce the countryâs dependence on imports of highquality coking coal that is used in the production of steel The new washeries which are expected to add a combined capacity of 215 million tonnes per year MTY are scheduled to become operational by 202930 Coal India currently has a network of 10 washeries with a cumulative capacity of 1835 MTY which means the expansion will more than double the capacity in the next four yearsThe public sector mining giant also plans to invest around Rs 300 crore in the renovation and modernisation of its existing coking coal washeries to improve efficiency and utilisationOf the eight new facilities five with a total capacity of 145 MTY will be set up under Central Coalfields Limited while three with 7 MTY capacity will come up under Bharat Coking Coal LimitedCoal India is also monetising older assets in line with the National Monetisation Pipeline After monetising one coking coal washery at Bharat Coking Coal it plans to monetise three more nonoperational unitsBesides Coal India is undertaking renovation and modernisation of two ageing washeries to improve throughput recovery efficiency and process reliabilityCoal India is also collaborating with private sector major Tata Steel to leverage washing capacity and technical expertise to boost the supply of quality coking coal to the domestic steel sectorCoking coal is a key raw material in steelmaking However domestic reserves have a very high ash content which ranges from 25 per cent to 45 per cent forcing the country to take recourse to expensive imports which are also a drain on precious foreign exchangeCoal India said the combined initiatives are expected to help substitute imported coking coal reduce foreign exchange outgo and enhance industrial competitiveness IANS https://dailyworld.in/business/coal-india-to-invest-rs-3-300-crore-for-setting-up-new-coking-coal-washeries-666825.html Fri, 27 Mar 2026 16:15:00 +0530 https://dailyworld.in/business/sensex-tanks-nearly-1-700-points-as-middle-east-uncertainty-spooks-investors-666834.html Mumbai March 27 Indian stock markets ended sharply lower on Friday snapping a twoday winning streak as uncertainty around ongoing talks between the United States Israel and Iran unsettled investor sentiment The benchmark indices saw heavy selling pressure throughout the session The Nifty fell 209 per cent or 48685 points to close at 2281960 Similarly the Sensex dropped 225 per cent or 169025 points to settle at 7358322Commenting on Nifty outlook experts said that technically any rebound towards 23500 could face selling pressure as this level is likely to act as an immediate resistanceâOn the downside a break below 22800 may lead to further weakness in the market an analyst statedâGiven the prevailing market uncertainties a sellonrise approach may remain suitable in the near termâ a market expert mentionedReliance Industries fell the most on Sensex by dropping 455 per cent Bajaj Finance IndiGo Eternal and HDFC Bank was among top losers on 30share packOn the other hand TCS Bharti Airtel and Power Grid were only three stocks which managed to close in greenThe broader markets also ended in the red though they showed relatively better resilience compared to the frontline indicesThe Nifty MidCap index declined 224 per cent while the SmallCap index slipped 188 per cent by the end of the sessionAmong sectoral indices PSU banks faced the most pressure and emerged as the top losersRealty and auto stocks also saw significant declines dragging overall market sentimentOn the other hand the IT sector managed to limit losses and emerged as the bestperforming segment for the day offering some support to the market amid the broader selloffThe sharp fall reflects rising caution among investors as global uncertainties continue to weigh on market sentimentâIndian markets witnessed a sharp and uneasy session with heavyweight energy stocks leading the decline amid a complex mix of policy changes rising crude prices and persistent geopolitical uncertaintyâ a market added IANS https://dailyworld.in/business/sensex-tanks-nearly-1-700-points-as-middle-east-uncertainty-spooks-investors-666834.html Fri, 27 Mar 2026 17:03:00 +0530 https://dailyworld.in/business/adani-ports-sets-up-indias-1st-port-of-refuge-to-bolster-maritime-safety-666844.html Ahmedabad March 27 Adani Ports and Special Economic Zone Ltd APSEZ on Friday said it has operationalised Indiaâs first Port of Refuge PoR addressing a longstanding gap in maritime emergency infrastructure creating a structured mechanism to handle maritime emergencies and vessels in distress The initiative is backed by a tripartite memorandum of understanding MoU with SMIT Salvage the salvage and emergency response division of Royal Boskalis Westminster NV Boskalis and the Maritime Emergency Response Centre MERC bringing global expertise and coordinated response capabilityA PoR as defined by the International Maritime Organisation is a designated location where ships can seek shelter to stabilise conditions protect life and limit environmental damageWhile such frameworks are standard in major maritime economies India had not formalised one until nowThe move comes as India with a coastline of over 11000 kilometres and located along key global shipping routes seeks to strengthen its emergency response capabilities said the APSEZ Indiaâs largest and the worldâs fastestgrowing integrated transport utility which handles nearly 27 per cent of Indiaâs port cargo volumesThis milestone marks a significant step in strengthening Indiaâs maritime safety ecosystem APSEZ Wholetime Director and Chief Executive Officer CEO Ashwani Gupta saidPorts connect economies â but a Port of Refuge protects lives By establishing dedicated PoR infrastructure we are elevating Indiaâs maritime preparedness and setting a new benchmark for worldclass coastal safety At APSEZ we believe worldclass infrastructure must be matched by worldclass responsibility said GuptaAPSEZ will designate two sites as PoR Dighi Port on the west coast supporting traffic across the Arabian Sea and routes to the Persian Gulf and Gopalpur Port on the east coast serving vessels in the Bay of Bengal and routes towards the Malacca Strait one of the worldâs busiest maritime trade corridorsThe facilities will provide salvage and wreck removal firefighting pollution containment and emergency coordination services through specialised equipment and trained response teamsThe initiative marks an important step in strengthening Indiaâs maritime preparedness and emergency response capacity The adoption of a standardised Port of Refuge framework will enable more coordinated and timely action during maritime incidents ensuring effective protection of life cargo and the coastal environment Director General Shipping Shyam Jagannathan saidThe initiative is aligned with international maritime conventions enhancing safety environmental protection and Indiaâs role in global shipping corridorsProviding a Port of Refuge to a casualty is critical in a salvage operation to ensure that the vessel and her cargo are dealt with swiftly and professionally and that the affected cargo and firefighting water are treated and disposed of in accordance with the applicable legislation SMIT Salvage Boskalis Managing Director MD Richard Janssen saidSMIT Salvage is pleased to bring global bestinclass salvage capability and experience to ensure faster safer and coordinated emergency response along Indiaâs key shipping routes he added IANS https://dailyworld.in/business/adani-ports-sets-up-indias-1st-port-of-refuge-to-bolster-maritime-safety-666844.html Fri, 27 Mar 2026 17:49:00 +0530 https://dailyworld.in/business/chinas-grip-on-key-minerals-sparks-us-alarm-lawmakers-demand-swift-supply-chain-fixes-666652.html Washington March 25 Top American lawmakers and experts have warned that the countrys heavy reliance on foreign critical minerals especially those from China poses a direct threat to national security and called for urgent steps to build resilient domestic supply chains At a House subcommittee hearing on Wednesday Congressman Paul Gosar said the âvery security of our nation relies heavily on a steady inputâ of minerals essential for defence systems electronics and advanced technologies He pointed to copper rare earths and lithium as key inputs for fighter jets missiles and batteriesGosar warned that the US remains heavily reliant on imports âWe import half of our supply of 20 of the 60 mineralsâ and we are entirely reliant on the importation of 13â he said adding that China dominates global processing and refining capacityLawmakers from both parties agreed that the supply chain vulnerability has strategic implications Representative Jared Huffman said the issue was not just about resources but governance alleging that billions in federal investments lacked transparency and oversightExpert witnesses told the panel that China has effectively âweaponisedâ mineral supply chains Gracelin Baskaran said the key question was no longer whether China controls critical minerals but how quickly the US can build alternative supply chainsâThe question is what the United States does about itâ she said calling for coordinated industrial policy and stronger alliances to secure supplyGeologist Simon Jowitt said the US has âhuge unrealised mineral potentialâ but remains underexplored due to limited geoscientific data and slow permitting He stressed that exploration is the foundation of any supply chain and can deliver significant economic returnsJowitt also underscored the need for a full domestic ecosystem âThereâs no point in just having mineral deposits without having an entirety of a supply chainâ he said arguing that processing and refining must accompany mining to ensure securityNational security expert Abigail Hunter highlighted structural challenges noting that supply chains take years to build while disruptions can occur âovernightâ She said Chinaâs control over processing creates a âchoke pointâ that allows it to influence global markets rapidlyâCapacity must be built in advanceâ Hunter said warning that relying on imports during crises could leave US defence systems vulnerableAt the same time watchdog groups raised concerns about government investment strategies Faith Williams said federal equity stakes in mining firms could create conflicts of interest and reduce transparencyâCorruption or the appearance thereof is bad for businessâ she said cautioning that unclear rules could distort markets and increase costs for taxpayersDespite political divisions there was broad agreement that critical minerals underpin both economic growth and military capability Lawmakers cited their role in everything from semiconductors and smartphones to advanced weapons systemsThe hearing also highlighted the economic stakes Mining contributes billions to the US GDP and supports nearly two million jobs with wages significantly above the national averageExperts said solutions would require a combination of domestic production allied cooperation and demandside policies Baskaran urged creating a âmarket of 26 billion consumersâ among US allies to counterbalance Chinaâs dominanceThe issue has gained urgency amid rising geopolitical tensions and growing demand for minerals driven by clean energy defence modernisation and digital infrastructure placing supply chain resilience at the centre of US strategic planning IANS https://dailyworld.in/business/chinas-grip-on-key-minerals-sparks-us-alarm-lawmakers-demand-swift-supply-chain-fixes-666652.html Thu, 26 Mar 2026 09:59:00 +0530 https://dailyworld.in/business/india-office-market-leasing-jumps-15-pc-q1-2026-666674.html New Delhi March 26 Indiaâs office real estate market has begun 2026 on a strong note with leasing activity touching 183 million square feet in the JanuaryâMarch quarter a report said on Thursday This marks a 15 per cent increase compared to the same period last year according to a report by Colliers IndiaThe growth was largely driven by major cities like Bengaluru and Hyderabad which together accounted for nearly half of the total leasing activity at 87 million square feetOther key markets including Mumbai Pune Delhi NCR and Chennai also saw healthy demand each recording leasing between 2 and 3 million square feetNotably Hyderabad and Pune witnessed more than double the demand compared to a year agoThe report highlights that India continues to remain a preferred destination for office space in the AsiaPacific region supported by the expansion of Global Capability Centers GCCs and strong occupier demand across sectorsGCCs alone contributed nearly half of the total leasing during the quarter indicating sustained confidence among global firms in Indiaâs office marketOn the supply side new office space additions remained robust at 118 million square feet in the first quarter up 19 per cent yearonyearBengaluru led the supply pipeline contributing nearly 47 per cent of the total new completions followed by Delhi NCR with a 17 per cent shareChennai and Mumbai also saw significant additions of about 15 million square feet eachConventional office leasing continued to dominate accounting for 144 million square feet of the total demandTechnology and BFSI banking financial services and insurance companies were the key drivers together making up nearly twothirds of this segmentTechnology firms alone contributed 36 per cent of conventional leasing with Bengaluru and Hyderabad emerging as the top destinationsAt the same time flexible workspace operators are gaining traction Leasing by flex space providers rose sharply by 77 per cent yearonyear to nearly 4 million square feet making up 21 per cent of overall leasingDelhi NCR and Hyderabad led this segment while cities like Kolkata and Delhi NCR saw particularly strong adoption with flex operators accounting for around 40 per cent of total leasing IANS https://dailyworld.in/business/india-office-market-leasing-jumps-15-pc-q1-2026-666674.html Thu, 26 Mar 2026 12:09:00 +0530 https://dailyworld.in/business/india-office-market-leasing-jumps-15-pc-in-q1-2026-666677.html New Delhi March 26 Indiaâs office real estate market has begun 2026 on a strong note with leasing activity touching 183 million square feet in the JanuaryâMarch quarter a report said on Thursday This marks a 15 per cent increase compared to the same period last year according to a report by Colliers IndiaThe growth was largely driven by major cities like Bengaluru and Hyderabad which together accounted for nearly half of the total leasing activity at 87 million square feetOther key markets including Mumbai Pune Delhi NCR and Chennai also saw healthy demand each recording leasing between 2 and 3 million square feetNotably Hyderabad and Pune witnessed more than double the demand compared to a year agoThe report highlights that India continues to remain a preferred destination for office space in the AsiaPacific region supported by the expansion of Global Capability Centers GCCs and strong occupier demand across sectorsGCCs alone contributed nearly half of the total leasing during the quarter indicating sustained confidence among global firms in Indiaâs office marketOn the supply side new office space additions remained robust at 118 million square feet in the first quarter up 19 per cent yearonyearBengaluru led the supply pipeline contributing nearly 47 per cent of the total new completions followed by Delhi NCR with a 17 per cent shareChennai and Mumbai also saw significant additions of about 15 million square feet eachConventional office leasing continued to dominate accounting for 144 million square feet of the total demandTechnology and BFSI banking financial services and insurance companies were the key drivers together making up nearly twothirds of this segmentTechnology firms alone contributed 36 per cent of conventional leasing with Bengaluru and Hyderabad emerging as the top destinationsAt the same time flexible workspace operators are gaining traction Leasing by flex space providers rose sharply by 77 per cent yearonyear to nearly 4 million square feet making up 21 per cent of overall leasingDelhi NCR and Hyderabad led this segment while cities like Kolkata and Delhi NCR saw particularly strong adoption with flex operators accounting for around 40 per cent of total leasing IANS https://dailyworld.in/business/india-office-market-leasing-jumps-15-pc-in-q1-2026-666677.html Thu, 26 Mar 2026 12:11:00 +0530 https://dailyworld.in/business/india-housing-affordability-likely-to-stabilise-this-year-666679.html New Delhi March 26 Buying a home in India may stop getting tougher from this year as rising incomes and supportive policies are expected to balance out high property prices according to a new report released on Thursday Indiaâs housing affordability is likely to stabilise between 2026 and 2028 offering some relief to homebuyers who have struggled with rising property prices and high loan costs in recent years a report by CBRE South Asia Private Limited saidThe consultancy in its India Residential Market Outlook 2026 noted that for the first time since 2021 household income growth is expected to grow faster than property pricesThis shift is likely to ease the burden of home loans for a wide range of buyers across major citiesThe report analysed the EMItoincome ratio across six key cities including Mumbai Delhi NCR Bengaluru Hyderabad Chennai and Pune covering three income groups between 2021 and 2028According to the findings affordability had worsened steadily between 2021 and 2024 mainly due to higher interest rates and faster growth in property prices compared to incomesHowever the trend is now expected to reverse From 2026 onwards the EMItoincome ratio is likely to stabilise across income groups indicating that buying a home will become more manageableIndustry experts said this marks an important turning point for Indiaâs housing market The combination of easing interest rates slower price growth and rising household incomes is expected to support demand going forwardThe report also suggests that Indiaâs progress towards becoming an uppermiddleincome economy by 2030 will further strengthen housing demandThe study also highlighted that the residential market remained strong in 2025 with both new launches and sales crossing 27 lakh unitsThere has been a noticeable shift towards premium and luxury housing with highend homes accounting for around 27 per cent of total salesSales in this segment grew over 30 per cent compared to the previous year the report stated IANS https://dailyworld.in/business/india-housing-affordability-likely-to-stabilise-this-year-666679.html Thu, 26 Mar 2026 12:30:00 +0530 https://dailyworld.in/business/all-fuel-outlets-operating-normally-rapid-rollout-of-png-connections-underway-centre-666687.html New Delhi March 26 IANS All retail outlets are operating normally with sufficient petrol and diesel stocks to meet national demand according to the government while a rapid rollout of PNG connections is currently underway across the countrynbspAll refineries are operating at a high capacity with adequate crude inventories While panic buying did occur in some areas due to rumours the government has confirmed that all retail outlets are operating normallyMoreover the government is maintaining 100 per cent supply for domestic PNG and CNG transport Supply to industrial and commercial consumers connected to the grid is being sustained at approximately 80 per cent of average consumption to ensure their economic continuity and Indias progressMeanwhile the government has notified the Natural Gas and Petroleum Products Distribution Order 2026 This creates a streamlined timebound framework for nationwide pipeline expansion aiming to accelerate PNG network growth and bypass land access delaysA singleday record of 9046 new PNG connections was achieved across over 110 geographical areas To support this entities like IGL and GAIL are offering new incentives while the DDA in Delhi has permitted 247 pipeline laying and waived road restoration chargesIn the meantime the Petroleum and Explosive Safety Organisation PESO has been advised to dispose of CGD applications within 10 days while the PNGRB has directed that connections for residential schools hostels and community kitchens be prioritised and completed within five daysThe overall commercial LPG allocation to StatesUTs has increased to 50 per cent This additional supply is prioritised for essential sectors including restaurants dhabas hotels and 5kg FTL cylinders for migrant labourersThe Centre has offered an additional 10 per cent allocation of commercial LPG to States and Union Territories specifically linked to their progress in transitioning consumers from LPG to Piped Natural Gas PNGImportantly under the Essential Commodities Act authorities conducted over 2700 raids in a single day seizing 2000 cylinders To date more than 650 FIRs have been registered and 155 individuals arrested for malpracticesTo ease LPG demand an additional 48000 KL of kerosene has been allocated to the States Furthermore the Union Ministry of Coal has ordered increased allotments to small and medium consumers to provide alternative energy optionsMeanwhile the Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of the Immigration Visa Foreigners Registration and Tracking IVFRT Scheme beyond March 31 2026 for a period of five years with a budget outlay of Rs 1800 croreAlso a hundred new airports will be developed in challenge mode at an average cost of Rs 100 crore per airport and 200 modern helipads will be developed under the Modified UDAN schemenbspIANS https://dailyworld.in/business/all-fuel-outlets-operating-normally-rapid-rollout-of-png-connections-underway-centre-666687.html Thu, 26 Mar 2026 13:06:00 +0530 https://dailyworld.in/business/india-credit-growth-surges-61-pc-in-fy26-report-666688.html New Delhi March 26 Indiaâs credit growth has seen a sharp jump in FY26 rising 61 per cent driven mainly by strong demand from retail borrowers and MSMEs a new report showed on Thursday Credit growth in India has accelerated significantly in FY26 with total credit flows rising to Rs 251 lakh crore nearly matching deposit mobilisation of Rs 261 lakh crore a report by Yes Bank saidThe report noted that strong demand across retail MSME and infrastructure sectors has been the key driver of this growthHowever deposit growth has been slowing since FY24 creating some pressure on liquidity in the banking systemAs a result the creditdeposit CD ratio has climbed to 824 per cent its highest level in a decadeRetail loans continue to dominate credit growth Personal loans have seen their share rise from 29 per cent to 33 per cent in recent years supported by tax relief measures and GSTrelated benefits that have boosted household incomesWithin this segment vehicle loans have emerged as the biggest driver overtaking housing loans since the third quarter of FY26There is also a noticeable shift towards secured lending as growth in unsecured loans has slowedThe report also highlighted a recovery in industrial credit led by MSMEs The segment now accounts for nearly onethird of total industrial credit and has seen strong growth due to government support including credit guarantee schemes and revised MSME definitionsMicro and small enterprises alone added Rs 238 lakh crore in loans during the year while medium enterprises contributed Rs 63000 crore the report saidLooking ahead the report cautioned that credit growth may slow in FY27 due to several risksHigher oil prices weaker exports and rising food inflation could impact economic activity and reduce demand for loansAt the same time the fading impact of GST benefits may also weigh on growth the report stated IANS https://dailyworld.in/business/india-credit-growth-surges-61-pc-in-fy26-report-666688.html Thu, 26 Mar 2026 13:14:00 +0530 https://dailyworld.in/business/private-fuel-retailer-nayara-hikes-petrol-by-rs-5-diesel-by-rs-3-666693.html New Delhi March 26 IANS Nayara Energy on Thursday increased petrol and diesel prices becoming one of the first fuel retailers in India to pass on the recent rise in global crude oil prices to consumersnbspThe company has raised petrol prices by Rs 5 per litre and diesel by Rs 3 per litre according to sourcesThe actual increase may vary slightly across states due to differences in local taxes such as VAT In some regions petrol prices have gone up by as much as Rs 530 per litreThe move comes at a time when global oil prices have surged sharply following tensions in the Middle EastPrices had jumped nearly 50 per cent since late February after Israel carried out military strikes on Iran leading to retaliation and fears of supply disruptionsInternational crude prices recently touched around 119 per barrel before easing to about 100Despite this surge stateowned oil marketing companies such as Indian Oil Corporation Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have not changed the prices of regular petrol and diesel which have remained largely unchanged since April 2022These companies control about 90 per cent of the fuel retail market in IndiaIndia depends heavily on imports for its energy needs sourcing about 88 per cent of its crude oil from abroadA significant portion of these supplies passes through the Strait of Hormuz a key shipping route now under threat due to rising geopolitical tensions in the regionMeanwhile earlier in the day the government said that all retail outlets are operating normally with sufficient petrol and diesel stocks to meet national demandIt added that a rapid rollout of PNG connections is currently underway across the countryAll refineries are operating at a high capacity with adequate crude inventories While panic buying did occur in some areas due to rumours the government has confirmed that all retail outlets are operating normallyIANS https://dailyworld.in/business/private-fuel-retailer-nayara-hikes-petrol-by-rs-5-diesel-by-rs-3-666693.html Thu, 26 Mar 2026 13:55:00 +0530 https://dailyworld.in/business/cbi-conducts-searches-in-mumbai-in-reliance-telecom-sbi-fraud-case-666703.html Mumbai March 26 IANS The Central Bureau of Investigation CBI has registered a case against Reliance Telecom Ltd its then Directors Satish Seth and Gautam B Doshi along with unknown public servants and others in connection with an alleged bank fraud case involving State Bank of India SBI amounting to Rs 11498 crorenbspAccording to officials the agency has invoked charges of criminal conspiracy and cheating under the Indian Penal Code along with provisions related to criminal misconduct and abuse of official position under the Prevention of Corruption Act 1988The case was registered following a complaint lodged by the SBI which alleged that the accused entities and individuals defrauded the bank resulting in substantial financial losses The SBI was part of a consortium of 11 banks that had collectively sanctioned a term loan facility of Rs 735 crore to Reliance Telecom LtdFollowing the registration of the case the CBI conducted searches at multiple locations in Mumbai including the residential premises of Seth and Doshi as well as the registered office of Reliance Telecom Ltd Officials said that several documents related to loan transactions and financial dealings have been recovered during the searchesThe agency is expected to scrutinise banking records correspondence and internal approvals linked to the loan disbursement Further action will be taken based on the findings of the ongoing investigationOfficials said that searches are still underway and more evidence may be collected as the probe progressesThe latest action comes amid a series of ongoing investigations into alleged financial irregularities involving companies linked to the Reliance Group In a related development earlier this month the CBI questioned Reliance Group Chairperson Anil Ambani for nearly eight hours in connection with a separate SBI complaint involving an alleged Rs 2929 crore fraud linked to Reliance Communications RComAccording to officials the case pertains to alleged misappropriation of loan funds and transactions that were in violation of lending terms The accounts had earlier been classified as fraud by the bank prompting investigative action including searches at company premises and residences of key individualsAmbani has been asked to join the probe again while other individuals including corporate executives linked to associated entities have also been examined as part of the widening investigation into multiple financial dealings under scrutinyIANS https://dailyworld.in/business/cbi-conducts-searches-in-mumbai-in-reliance-telecom-sbi-fraud-case-666703.html Thu, 26 Mar 2026 15:17:00 +0530 https://dailyworld.in/business/india-to-boost-critical-mineral-exploration-push-startup-led-mining-ecosystem-dr-jitendra-singh-666705.html New Delhi March 26 India is stepping up efforts to explore critical minerals promote startups in mining and build strong domestic supply chains to reduce import dependence Minister of State Dr Jitendra Singh said on Thursday Speaking at the governing body meeting of the National Mineral Exploration and Development Trust NMET the minister highlighted the need to speed up exploration activities especially for important minerals like lithium which are crucial for newage technologiesâIndia is in the process of scaling up exploration of critical minerals creating a startupdriven mining ecosystem and building strong domestic value chains to reduce import dependenceâ Singh mentionedHe said that India must align its exploration efforts with global demand and its own strategic needsOngoing work in regions such as the Siwana belt in Rajasthan and the SalalâHaimna block in Jammu and Kashmir was mentioned as examples with a push to expand such efforts to more potential areasâIndia must create a conducive environment for Indian companies and startups to enter the mining and critical minerals sectorâ the minister statedReferring to the success of the biotechnology startup ecosystem he added that similar institutional support targeted incentives and handholding mechanisms can enable innovation in mining technologies and exploration methodsâBuilding capacity in private exploration agencies is essential for longterm growth of the sectorâ Dr Singh mentionedThe government is also focusing on improving project timelines by simplifying approval processes and addressing issues such as forest clearances which often delay exploration workThe minister said better coordination among different authorities will be necessary to maintain momentumâFaster approvals better procurement systems and timely preexploration clearances are necessary to maintain momentum in exploration activitiesâ the minister notedâReducing dependence on imports requires development of endtoend domestic supply chains including processing and value additionâ he added IANS https://dailyworld.in/business/india-to-boost-critical-mineral-exploration-push-startup-led-mining-ecosystem-dr-jitendra-singh-666705.html Thu, 26 Mar 2026 15:45:00 +0530 https://dailyworld.in/business/indias-real-estate-pe-inflows-jump-59-pc-in-2025-report-666712.html New Delhi March 26 Private equity investments in Indiaâs real estate sector saw a sharp rise of 59 per cent in 2025 reaching 67 billion driven by strong demand and stable economic conditions a report said on Thursday The report highlighted that Indiaâs economic performance remained strong during the year with GDP growth reaching 78 per cent in the first quarter of FY26 and rising further to 82 per cent in the second quarterThis growth helped position India as the worldâs fourthlargest economy with an estimated size of 418 trillionLower inflation also allowed for a reduction in interest rates which supported investment activity as per the reportMost of the private equity inflows were directed towards core real estate segments The office sector attracted the highest investment at 24 billion accounting for over onethird of total inflowsThis was followed by data centres and residential assets which saw growing interest from investors due to rising demand for digital infrastructure and premium housingForeign investors continued to dominate the market contributing around 76 per cent of total investments or 51 billionThis reflects continued global confidence in Indiaâs real estate sector Land investments also played a significant role making up nearly 25 per cent of total inflowsA large portion of these investments was directed towards office and data centre developments especially in Mumbai and Pune which together accounted for the majority shareThe report also noted that investors showed interest in both ready and underconstruction projects with each category attracting nearly equal investmentThis indicates a balanced approach with investors looking at both incomegenerating assets and future development opportunitiesLooking ahead the report said that investment activity is expected to remain steady in 2026 supported by stable economic conditions and consistent policy supportContinued demand for office spaces data centres and residential projects along with ongoing land investments is likely to ensure a steady supply of highquality real estate assets in the coming years IANS https://dailyworld.in/business/indias-real-estate-pe-inflows-jump-59-pc-in-2025-report-666712.html Thu, 26 Mar 2026 16:26:00 +0530 https://dailyworld.in/business/air-india-delhi-london-flight-returns-mid-air-after-technical-snag-666713.html New Delhi March 26 IANS An Air India flight from Delhi to London Heathrow had to return to the national capital on Thursday afternoon after a suspected technical issue was detected midairnbspThe flight AI111 had taken off from Delhi at around 6 am and remained in the air for nearly seven hours before returning It safely landed back in Delhi at approximately 1230 pmAccording to an Air India spokesperson the aircraft made a precautionary return after a suspected technical issue was noticed during the journey The airline said that the decision was taken keeping passenger safety as the top priorityThe spokesperson confirmed that the aircraft landed safely in line with the airlines strict safety standardsThe plane is now undergoing detailed technical checks which are expected to take some time before further decisions are madeAir India also expressed regret over the inconvenience caused to passengers due to the unexpected situationThe airline said it is making all possible efforts to ensure that affected passengers can continue their journey to London at the earliestFurther details about the nature of the technical issue are awaited as inspections continueMeanwhile last week an Air India flight that took off from Delhi for Canadas Vancouver returned to the national capital after 9 hours as the B777 Boeing version that was deployed on the route did not have clearance from Canadas aviation regulator to fly into the countryThe Air India flight with the call sign AI185 took off from Delhi with a full load of passengers at 1218 pm on March 20 for Vancouver using a Boeing 777200LR plane even though Air India has approval from Canadian authorities only for its Boeing 777300ER planes on this routeIANS https://dailyworld.in/business/air-india-delhi-london-flight-returns-mid-air-after-technical-snag-666713.html Thu, 26 Mar 2026 16:58:00 +0530 https://dailyworld.in/business/domestic-consumption-investments-to-keep-indias-gdp-growth-above-7-pc-in-fy27-666721.html New Delhi March 26 Strong domestic consumption and rising investments are expected to help India maintain GDP growth above 7 per cent in the next financial year 2026â27 a report said on Thursday The data compiled by Assocham noted that Indiaâs GDP is expected to grow by 76 per cent in the financial year 202526 with growth likely to stay above 7 per cent in FY27 as wellThis steady performance comes even as global economic conditions remain uncertain due to geopolitical tensions particularly in West AsiaAssocham President Nirmal K Minda said that consistent government reforms over the years have played a key role in boosting business confidenceHe highlighted that Indiaâs consumption levels are currently at a multiyear high driven by reforms in taxation and ease of doing business while investments are also picking up pace alongside demandThe industry body said Indiaâs economy has become more resilient in recent years especially after the COVID19 pandemicDespite facing global challenges such as geopolitical conflicts and trade tensions the country has managed to grow at over 7 per cent for the past three yearsKey economic indicators also reflect this strength Indiaâs purchasing managers index PMI stood at 569 for manufacturing and 581 for services in February 2026 placing it ahead of major economies like the United States China and GermanyExports have also shown steady growth rising around 6 per cent between April and February of FY26 to reach 791 billion compared to 748 billion in the same period last yearThe growth has been supported by sectors such as engineering goods electronics chemicals gems and jewellery and agricultural productsAssocham expressed confidence that exports could cross 870 billion this year up from 824 billion last yearHowever the report flagged potential risks from ongoing tensions in West Asia Sectors such as gems and jewellery pharmaceuticals and agriculture could face disruptions due to higher logistics costs and delays in shipmentsThe Middle East remains a key market for these industries and any prolonged conflict could affect trade flows IANS https://dailyworld.in/business/domestic-consumption-investments-to-keep-indias-gdp-growth-above-7-pc-in-fy27-666721.html Thu, 26 Mar 2026 17:55:00 +0530 https://dailyworld.in/business/india-achieves-unprecedented-foodgrain-production-registers-bumper-exports-666723.html New Delhi March 26 IANS India recorded an unprecedented foodgrain output of 35773 million metric tonnes MMT in the agricultural year 202425 marking an increase of 2543 MMT over the preceding year reflecting sustained gains in productivity improved input management and strengthened institutional support to farmers an official factsheet said on ThursdaynbspThe increase was primarily driven by higher production of rice wheat maize and coarse cereals including millets designated as Shree AnnaMoreover Indias agricultural exports have grown steadily in recent yearsnbspAgricultural export earnings increased from 345 billion in FY20 to 511 billion in FY25 reflecting a CAGR of 82 per centnbspIn FY25 agrifood exports including processed food products amounted to 4943 billion accounting for about 112 per cent of total exportsnbspNotably the share of processed food exports has also risen consistently from 149 per cent in FY18 to 204 per cent in FY25 indicating a progressive shift toward higher valueadded within the agricultural export basket said the official statementThe country ranks as the worlds secondlargest producer of both rice and wheat with output reaching 15018 million tonnes of rice and 11794 million tonnes of wheat during the agricultural year 202425nbspIndia also leads globally in pulse production recording an output of 2568 million tonnes 202425 with Madhya Pradesh Maharashtra and Rajasthan serving as the principal producing statesnbspThe country also ranks first worldwide in millet production achieving approximately 1859 million tonnes 202425 largely driven by Rajasthan Maharashtra and KarnatakaRice exports reached 1295 billion in 20242025 while exports of pulses and millets amounted to 855 million and 5920 million respectivelynbspMoreover horticulture has simultaneously emerged as a major driver of agricultural transformation and value additionnbspTotal horticulture production reached 36208 million tonnes MT in 202425 indicating a structural shift towards highvalue cropsnbspAccording to the second advance estimates production increased from 28070 million tonnes in 201314 to 36772 million tonnes in 202425nbspThis output comprises approximately 11451 million tonnes of fruits 21967 million tonnes of vegetables and 3354 million tonnes from other horticultural cropsThese figures underscore the growing international demand for diversified climateresilient cereal crops reinforcing Indias strategic role in global food and nutrition securityIANS https://dailyworld.in/business/india-achieves-unprecedented-foodgrain-production-registers-bumper-exports-666723.html Thu, 26 Mar 2026 18:17:00 +0530 https://dailyworld.in/business/reliance-industries-refutes-reports-that-it-purchased-iranian-crude-666726.html New Delhi March 26 Reliance Industries Limited RIL on Thursday refuted reports that it has purchased Iranian crude calling these reports baseless Reports earlier claimed that RIL had purchased 5 million âbarrels of Iranian crude after the US administration temporarily removed sanctions on âIranian oil at seaAccording to the report RIL bought the oil from the National Iranian Oil CoReliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin These reports are baseless leading to misleading and incorrect claims the company said in a statement urging the media outlets concerned to verify facts before publicationLast week the US issued a shortterm authorisation allowing the sale of Iranian oil already stranded at sea a move the Donald Trump administration says will quickly boost global supply while maintaining pressure on Tehran according to the Treasury Department and media reportsTreasury Secretary Scott Bessent said the step is designed to stabilise energy markets amid ongoing conflict and supply disruptions Today the Department of the Treasury is issuing a narrowly tailored shortterm authorisation permitting the sale of Iranian oil currently stranded at sea he had saidThe authorisation applies only to crude already loaded on vessels as of March 20 and remains in force until April 19 according to a Treasury general licence Bessent said the move could bring approximately 140 million barrels of oil to global markets helping to ease pressure caused by recent disruptionsBy temporarily unlocking this existing supply for the world the United States will quickly bring approximately 140 million barrels of oil to global markets expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran he saidAt present much of the sanctioned Iranian oil is believed to be held offshore or routed through indirect channels Bessent said some of it has been hoarded by China on the cheap and that releasing it would help undercut Tehranâs leverage IANS https://dailyworld.in/business/reliance-industries-refutes-reports-that-it-purchased-iranian-crude-666726.html Thu, 26 Mar 2026 18:47:00 +0530 https://dailyworld.in/business/pakistans-ai-policy-faces-slow-progress-6-months-after-launch-666727.html New Delhi March 26 Six months after Pakistan approved its National Artificial Intelligence Policy concerns are growing over slow implementation with key systems and plans still not in place a report has said When Pakistanâs federal cabinet approved the National Artificial Intelligence Policy in July last year it was seen as a major step towards building a digital futureThe policy aimed to promote responsible use of AI boost innovation and prepare the country for a global economy driven by technology and dataHowever six months later progress on the ground appears limited according to Maldives Insight reportWhile the policy outlined ambitious goals the systems needed to turn those plans into action are still unclearExperts said the delay could affect Pakistanâs ability to keep up in a fastmoving technology spaceThe policy had set big targets for 2030 including training one million AI professionals developing thousands of AIbased projects and creating locally built AI productsIt also promised scholarships and wider use of AI in sectors like healthcare education and governance But so far there is little visible progress in achieving these goalsOne of the major challenges has been the lack of coordination between the federal and provincial governmentsReports suggest that provinces have not responded to requests for input on implementing the policyThis is a concern because key sectors like education and healthcare fall under provincial control making their involvement essentialAnother delay has been in setting up the National AI Council which was supposed to guide and monitor the policyâs implementationThe council has not yet been formed and there is currently no clear system to coordinate efforts across different departments the report statedThe policy is based on six key areas including building infrastructure promoting innovation and forming global partnershipsBut apart from some awarenessrelated activities most areas have seen little movementProjects related to infrastructure sectoral use and international cooperation are still at an early stage the report mentioned IANS https://dailyworld.in/business/pakistans-ai-policy-faces-slow-progress-6-months-after-launch-666727.html Thu, 26 Mar 2026 18:49:00 +0530 https://dailyworld.in/business/pakistans-farm-sector-faces-fertiliser-shortage-as-iran-war-hits-supply-666729.html New Delhi March 26 As the Gulf conflict continues the disruption in global fertiliser markets has again exposed the weaknesses of Pakistanâs farm input security according to local media reports While domestic capacity has insulated Pakistan from the worst effects of the urea shock the same cannot be said for diammonium phosphate where reliance on imports leaves the farm economy vulnerable according to an article in the Dawn newspaperLocal production in the case of urea has helped farmers avoid reducing fertiliser use which would have meant lower output and higher food prices DAP is a different story Pakistan produces only around 07 million tonnes annually but needs more than 2 million a gap it fills almost entirely through imports from the Middle East In normal conditions this reliance is manageable though pricey In the current disruption it is a critical fault line the article statedUnlike urea where domestic stocks and production continuity provide a cushion DAP imports are directly exposed to price volatility and logistical bottlenecks Supply disruptions shipping constraints and feedstock shortages are already tightening global availability Prolonged disruption could sharply raise landed costs limit availability during sowing periods and force farmers to either reduce application or switch to a suboptimal nutrient mix it observedThe implications for agriculture are significant DAP plays a crucial role in earlystage crop development particularly for staple crops Its underapplication cannot be easily compensated for by urea or other nutrients without compromising yields In this sense the DAP shortfall is not merely a supply issue it is also a threat to output farm incomes price stability and by extension food security the article pointed outAt a minimum an uninterrupted gas supply to the existing DAP plant must be ensured Beyond that policymakers must revisit the broader incentive structure to encourage capacity expansion and gradually limit import dependence As geopolitical uncertainties persist the gap between resilience and vulnerability will increasingly be defined by what the country can produce at home and what it cannot the article added IANS https://dailyworld.in/business/pakistans-farm-sector-faces-fertiliser-shortage-as-iran-war-hits-supply-666729.html Thu, 26 Mar 2026 18:52:00 +0530 https://dailyworld.in/business/dgca-aims-to-ease-rules-for-airlines-amid-rising-challenges-666736.html New Delhi March 26 The Directorate General of Civil Aviation is working to make regulations easier for airlines while also protecting passenger rights its chief Faiz Ahmed Kidwai said on Thursday Speaking at the Indian Chamber of Commerce Aviation and Tourism Summit here Kidwai said the regulator is trying to strike a balance between ensuring passenger rights and helping airlines growâIndiaâs aviation market is one of the fastestgrowing in the world but airlines are currently dealing with several operational hurdlesâ he notedâThese include longer flight routes and higher costs due to restrictions on certain airspacesâ Kidwai explainedKidwai pointed out that the ongoing tensions in West Asia have added to the pressure forcing airlines to reduce services to the regionâAt the same time the closure of Pakistanâs airspace for Indian carriers has made flights longer increasing fuel consumption and costsâ he statedHe explained that carrying extra fuel reduces the capacity for passengers and cargo which in turn affects airline revenuesâOperating costs go up and these are big challenges for the sectorâ he said adding that the industry is going through a difficult phase but expressed hope for improvement in the futureHighlighting the need for policy support Kidwai said several airlines in India have shut down in the past and it is important to create a supportive environment for existing carriersAs part of recent measures the government has withdrawn fare caps that were imposed after operational disruptions faced by IndiGo in December 2025It has also decided that 60 per cent of seats on domestic flights will be offered without additional charges aiming to benefit passengersâSuch steps are part of broader efforts by the DGCA and the civil aviation ministry to strengthen the sector while ensuring that both airlines and passengers are supported during challenging timesâ Kidwai said IANS https://dailyworld.in/business/dgca-aims-to-ease-rules-for-airlines-amid-rising-challenges-666736.html Thu, 26 Mar 2026 20:01:00 +0530