DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Thu, 23 Apr 2026 10:28:17 +0530 en https://dailyworld.in/business/india-born-company-delivers-3-000th-fire-truck-design-for-us-market-670775.html Bengaluru April 23 Amid the complexity of designing US fire trucks that increases manifold because each US state has a unique fire code global professional services company Vee Technologies engineering business has rolled out the design of its 3000th fire truck this month its was announced on Thursday The Bengaluru and Atlantaheadquartered firm forayed into the challenging area of designing fire trucks for the US market a decade agoThe complexity of designing US fire trucks increases owing to the variety of materials used in the construction of townhouses residential and commercial complexes â many of them housed in skyscrapers The design process must address varying height requirements and operational tasks including transporting firefighters to fire sites â often several hundred feet high â pumping water or firesuppressant materials and rescuing those trapped in the inferno said the company in a statement The firm provides specialised engineering design services focused on delivering reliability and speed of response in emergency situations The company will be showcasing its capabilities at the Fire Department Instructors Conference FDIC International until April 25 2026 at the Indiana Convention Centre and Lucas Oil Stadium in Indianapolis The engineers are adept at creating state codeâspecific designs for manufacturing fire apparatus that require precision speed and the ability to adapt to evolving standards To achieve this the engineering team leverages vast amounts of data to develop and optimise detailed codecompliant designs for fire apparatus that meet global safety norms According to latest industry estimates the 63 billion engineering RampD segment of Indian IT firms contribute over onefifth of Indiaâs over 300 billion IT and BPM export revenues and is the secondlargest segment after IT services exports This segment focuses on product engineering embedded systems and digital manufacturing Growth is driven by softwaredefined products ERampD outsourcing and strong demand from the automotive telecom and industrial sectors globally IANS https://dailyworld.in/business/india-born-company-delivers-3-000th-fire-truck-design-for-us-market-670775.html Thu, 23 Apr 2026 10:06:00 +0530 https://dailyworld.in/business/google-ceo-pichai-lauds-tim-cook-wishes-him-for-executive-chairman-role-at-apple-670725.html New Delhi April 22 Google CEO Sundar Pichai has congratulated Tim Cook on his tenure and extended best wishes for his new role as executive chairman at Apple Taking to the microblogging platform X Pichai stated Congrats on an incredible run always respected your deep commitment to Appleâs mission and best wishes in your new role Look forward to working with John as wellEarlier regarding his transition Cook thanked users and stakeholders saying I want to thank everyone for the outpouring of love and thank you for believing in me to lead the company that has always put you at the centre of our workThis is not goodbye Its a hello to John and I cant wait for you to get to know him like I do he wrote on XNotably Apple has named John Ternus its senior vice president of hardware engineering as the next CEO effective September 1 2026 while Cook will move into the role of executive chairmanMoreover industry experts highlighted Tim Cookâs role in shaping Appleâs global strategy particularly in India They noted that Cook played a pivotal role in unlocking Indiaâs potential by driving manufacturing expansion strengthening retail presence and deepening engagement with developers and usersThey added that John Ternus would need to build on this foundation with his engineeringled leadership expected to resonate with Indiaâs young and aspirational consumer baseCook has led Apple since 2011 described his tenure as the greatest privilege of his lifeHowever under his leadership Appleâs market capitalisation surged from about 350 billion to nearly 4 trillion while annual revenues grew to over 416 billionEarlier Cook has dismissed the reports that had claimed step down from CEO post calling them a rumourNo I did not say that I have not said that That is a rumour going around he said when asked about reports suggesting he might step back from his roleIn the US markets Apple shares on Tuesday settled at 26617 down 252 per cent on the Nasdaq The stock decreased by 15 per cent against the April 17 closing of 27023 IANS https://dailyworld.in/business/google-ceo-pichai-lauds-tim-cook-wishes-him-for-executive-chairman-role-at-apple-670725.html Wed, 22 Apr 2026 16:37:00 +0530 https://dailyworld.in/business/atal-pension-yojana-surpasses-historic-9-crore-gross-enrolments-670733.html New Delhi April 22 The Union government said on Wednesday that the Atal Pension Yojana APY has achieved a historic milestone by surpassing total gross enrolments of nine crore subscribers Gross enrolments during the Financial Year 2025â26 crossed 135 crore subscribers marking the highestever enrolments recorded in a single financial year since the inception of the scheme according to a Finance Ministry statementLaunched on May 9 2015 with the vision of establishing a universal social security system for all Indians APY is a flagship social security scheme of the Union government administered by the Pension Fund Regulatory and Development Authority PFRDAAccording to the Ministry APY is designed to provide a Sampurna Suraksha Kavach Complete Security Shield by ensuring benefits like a guaranteed monthly pension ranging from Rs 1000 to Rs 5000 for subscribers after attaining 60 years of ageAlso same pension continues to the spouse after the subscribers demise and the return of the corpus accumulated till the age of 60 to the nominee after the death of bothThe pension scheme is open to all Indian citizens between the age of 18 and 40 years except those who are or have been income taxpayersAPY is a voluntary contributory pension scheme primarily focused on the poor the underprivileged and workers in the unorganised sectorOver the past decade the scheme has witnessed remarkable growth driven by sustained efforts of banks Public Sector BanksRegional Rural BanksPrivate BanksSmall Finance BanksCooperative banks State Level Bankers CommitteeUnion Territory Level Bankers CommitteesLead District Managers the Department of Posts and continuous support from the Union government the official statement saidAccording to the Ministry PFRDA has played a proactive role in expanding the schemes footprint across all states and districts in the country through extensive outreach initiatives capacitybuilding programmes multilingual awareness materials media campaigns and regular performance reviews IANS https://dailyworld.in/business/atal-pension-yojana-surpasses-historic-9-crore-gross-enrolments-670733.html Wed, 22 Apr 2026 17:33:00 +0530 https://dailyworld.in/business/canadas-china-trade-push-risky-could-hurt-ties-with-us-report-670734.html New Delhi April 22 Canadaâs move to deepen trade ties with China could pose risks to its economic security and strain relations with the United States a report has said Former Canadian diplomat Michael Kovrig warned Ottawaâs evolving China strategy as a risky play that may not be viewed favourably in Washington and could complicate ongoing trade discussions with its largest partner according to the report in Global NewsThe basic problem is that China is not a solution to most of our problems with the US Kovrig was quoted as sayingHe also cautioned that closer engagement with Beijing could make Canada appear as an unreliable ally in the eyes of the United StatesKovtig noted that the US accounts for about 75 per cent of Canadaâs exports while China represents only around 4 per cent underscoring the imbalance in trade dependence according to the reportEarlier the Canadian government announced a deal under Prime Minister Mark Carney which includes provisions such as importing a limited number of Chinese electric vehicles and easing tariffs on certain Canadian agricultural exportsThe agreement aimed at boosting Canadaâs exports to China by 50 per cent by 2030Kovrig warned that China is currently in selling mode not in buying mode and is seeking to expand global reliance on its exportsHe also cautioned that Beijing could use economic leverage to increase its market access over time including pushing for higher quotas of Chinese electric vehicles beyond the current commitmentDrawing an analogy Kovrig said the influx of cheaper imports could undermine domestic industries similar to how large retailers can displace local businesses eventually reducing competition and increasing dependenceHe further pointed out that canola pork and seafood sectors have already become highly dependent on the Chinese market making them vulnerable to potential trade disruptionsIf China cuts off that trade the people in those sectors face an economic catastrophe he said adding that such dependence could influence domestic policy decisionsHowever Kovrig did not advocate cutting off ties with China entirely stressing that engagement should be tightly controlled and restricted with safeguards to prevent misuseThe report further highlighted that other experts have echoed similar concerns warning that the deal could impact negotiations to renew the CanadaUSMexico Agreement IANS https://dailyworld.in/business/canadas-china-trade-push-risky-could-hurt-ties-with-us-report-670734.html Wed, 22 Apr 2026 17:34:00 +0530 https://dailyworld.in/business/direct-train-between-jammu-and-srinagar-to-start-on-april-30-670634.html Jammu April 22 Direct train service between Jammu and Srinagar will start on April 30 the Northern Railway officials said on Wednesday Officials said that Railway Minister Ashwini Vaishnaw and Minister of State PMO Dr Jitendra Singh will flag off the service at Jammu railway stationâVande Bharat Express will chug between Jammu and Srinagar on April 30 All preparations have been made The trains and tracks are ready Trials runs have been successful Security arrangements are in place And now the Railways Minister is scheduled to flag off the Vande Bharat Express train directly from Jammu to Srinagar on April 30â officials saidIn addition to Dr Jitendra Singh who is also the Lok Sabha member from KathuaUdhampur seat Jugal Kishore Lok Sabha member from Jammu constituency will also join the railway minister at the flagoff ceremonyAt present two Vande Bharat Express trains are operating between Katra and Srinagar and they will now be extended to Jammu with revised timings to be notified by the Railways DepartmentIn addition to two JammuSrinagar Vande Bharat trains two similar trains also run between New Delhi and Katra The launch of Vande Bharat Express trains will further enhance connectivity between Jammu and Srinagar and also reduce travel time between Jammu and SrinagarThe dream of a rail link between Kashmir and the rest of the country was nurtured for over a century but was finally realised when Prime Minister Narendra Modi flagged off the train from Katra town to Srinagar on June 6 2025On the same day the Prime Minister also inaugurated the UdhampurSrinagarBaramulla Rail Link USBRL project which provided the Valley with allweather rail connectivityWith the annual pilgrimage of Shri Amarnath Ji starting on July 3 yatris can reach Jammu from across the country and then board a train for SrinagarSince all Yatris tourists and commuters cannot be accommodated in the train service the JammuSrinagar National Highway will continue to remain the major source of connectivity between the two divisions of the union territoryHowever in case of adverse weather conditions when the National Highway gets blocked the train services will be a great source of help for the commutersThe premium train service which has been running between Shri Mata Vaishno Devi Katra and Srinagar for past over 10 months will now be extended up to Jammu TawiMarch 1 2026 was earlier announced as the date for the launch of the direct train between Jammu and Srinagar but the date was later deferredThe train currently operating between Srinagar and Katra with an eightcar Vande Bharat rake is now likely to run between Jammu and Srinagar with an upgraded 20car rakeThe Jammu railway division which looks after operational command in the union territory was inaugurated in January 2025 and notified from June 1 2025Since then it has expanded freight operations by setting up goods sheds and handling consignments ranging from military equipment to commercial cargo from different parts of the country IANS https://dailyworld.in/business/direct-train-between-jammu-and-srinagar-to-start-on-april-30-670634.html Wed, 22 Apr 2026 09:21:00 +0530 https://dailyworld.in/business/sensex-nifty-open-on-weak-note-amid-us-iran-ceasefire-extension-670640.html Mumbai April 22 The Indian equity benchmarks traded lower in early hours on Wednesday even after President Donald Trump announced an extension of the fragile ceasefire between the US and Iran Sensex declined as much as 062 per cent or about 500 points to 78779 while Nifty traded at 24434 down 1422 points or 057 per cent amid selling pressure in IT banking pharma and healthcare stocks such as Max Healthcare ICICI Bank Axis Bank HCL Tech and Apollo Hospitals Meanwhile Nifty FMCG and Nifty Metal were the top gainersMoreover the volatilitytracking index India VIX spiked by about 3 per centAnalysts said the market setup for the day suggests a gapdown to rangebound opening They further noted that while the broader trend remains positive profit booking at higher levels and continued FII selling may cap upside in the near termStrong DII buying is expected to continue supporting the market on declines but shortterm consolidation cannot be ruled out analysts saidOn Tuesday FIIs were net sellers with outflows of Rs 1919 crore while DIIs were net buyers with inflows of Rs 2221 crore according to provisional dataTrump has indefinitely extended the ongoing ceasefire between the US and Iran However the naval blockade continues and the Strait of Hormuz continues to remain congestedIn commodities markets crude oil rebounded by up to 1 per cent with Brent crude trading around the 100 per barrel mark and US WTI at 9071On the global front markets traded on a mixed note In Asian markets the Nikkei was up 061 per cent while the Hang Seng was down 1 per cent and the KOSPI traded marginally lowerIn the US Wall Street closed in the negative territory with the SampP 500 down 063 per cent at 7064 and the Nasdaq finishing at 2425996 down 06 per cent IANS https://dailyworld.in/business/sensex-nifty-open-on-weak-note-amid-us-iran-ceasefire-extension-670640.html Wed, 22 Apr 2026 09:57:00 +0530 https://dailyworld.in/business/openai-integrates-images-20-into-chatgpt-with-thinking-realism-outputs-670644.html New Delhi April 22 ChatGPT parent OpenAI has rolled out Images 20 its nextgeneration image generation model aimed at delivering more precise realistic and usable visuals with advanced reasoning capabilities The new model is a significant improvement in following detailed instructions accurately placing objects and rendering complex elements such as dense text user interfaces and multilingual content It supports flexible aspect ratios and can generate images tailored for formats ranging from social media graphics to presentations the company said in a statementA major upgrade is the integration of thinking capabilities When enabled the model can use web search for realtime information generate multiple distinct images from a single prompt and verify outputs for accuracy and consistencyAccording to the company the update allows users to move from concept to finished visual assets with less manual effortMoreover the model shows improved performance across languages with stronger rendering of nonLatin scripts including Hindi Japanese Chinese Korean and Bengali which makes it more useful for global usersIn terms of visual quality Images 20 offers enhanced realism and stylistic accuracy across formats such as photographs cinematic stills manga and pixel art with better handling of lighting textures and fine details it addedThe company also highlighted a wide range of use cases and styles such as UI screenshots magazine layouts infographics handwritten notes comics and manga advertisements and cinematic visuals as well as design workflows across platforms such as Canva Figma and AdobeIn addition developers can access the model via the gptimage2 API enabling integration into products for use cases such as design marketing education and content creationThe tool is also available within ChatGPT and Codex platforms OpenAI saidHowever the company noted that while the model represents a major step forward it still faces limitations in rendering highly complex spatial tasks or extremely detailed repetitive patterns and outputs such as diagrams may require human reviewOpenAI also flagged that it has implemented multiple safety layers including prompt and imagelevel checks to prevent harmful or misleading content alongside provenance tools such as metadata tagging and watermarkingThe new version of the image model is available with advanced features accessible to paid users The company also said the gptimage2 model can be access via the API with pricing varying depending on the selected image quality and resolution IANS https://dailyworld.in/business/openai-integrates-images-20-into-chatgpt-with-thinking-realism-outputs-670644.html Wed, 22 Apr 2026 10:40:00 +0530 https://dailyworld.in/business/crude-oil-prices-near-100-again-as-strait-of-hormuz-remains-constrained-670653.html Mumbai April 22 Global crude oil prices edged higher to nearly 100 a barrel on Wednesday as traders and investors analysed the outlook for USIran peace talks following US President Donald Trumpâs announcement to extend a fragile ceasefire even as the Strait of Hormuz remained constrained International benchmark Brent crude futures traded at 9929 per barrel up 082 per cent while US West Texas Intermediate WTI rose 115 per cent to 9071Both benchmark contracts had gained around 3 per cent in the previous sessionOn the Multi Commodity Exchange MCX crude oil declined from previous close levels hitting an intraday low of Rs 8382 down 065 per cent or Rs 55 as of around 1030 amMarket sentiment remained cautious after Trump said he would indefinitely extend the ceasefire with Iran to allow more time for negotiations after initially setting a twoweek periodMoreover the naval blockade continued with the Strait of Hormuz remaining constrainedIn a social media post Trump claimed that Iran was collapsing financially and losing 500 million a day adding that Tehran was keen to reopen the Strait of HormuzShipping activity through the Strait of Hormuz a critical route for nearly 20 per cent of global energy supplies remained largely stalled with minimal vessel movement reported in the past 24 hours according to reportsAdding to tensions Iran has indicated it may attempt to break the blockadeIn equities markets showed mixed performance globally Domestic equities traded lower with both benchmark indices Sensex and Nifty declining about 1 per cent each amid selling pressure in IT banking and auto stocks such as Infosys HCL Tech Tech Mahindra ICICI Bank HDFC Bank Eicher Motors and MampMOn the global front markets traded mixed In Asia the Nikkei rose 061 per cent while the Hang Seng declined 1 per cent and the KOSPI traded marginally lowerIn the US Wall Street closed in negative territory with the SampP 500 falling 063 per cent to 7064 and the Nasdaq ending 06 per cent lower at 2425996 IANS https://dailyworld.in/business/crude-oil-prices-near-100-again-as-strait-of-hormuz-remains-constrained-670653.html Wed, 22 Apr 2026 11:20:00 +0530 https://dailyworld.in/business/housing-prices-in-bengaluru-may-rise-up-to-40-pc-on-metro-push-report-670659.html New Delhi April 22 A report by Colliers has highlighted that the tech hub citys rapid economic and real estate growth fuelled by the expansion of the technology sector since the 1990s is set to accelerate further with ongoing infrastructure development It also highlighted that Bengaluru leads globally in tech talent availability with nearly twice as many professionals as the next largest city Along with the presence of multinational firms startups and a strong industrial ecosystem this has positioned the city among Indiaâs fastestgrowing real estate marketsInfrastructure development including roads expressways Metro connectivity and airport expansion emerged as a major growth driver particularly in easing congestion and unlocking new real estate corridorsThe Metro network comprising multiple lines at different stages is expected to play a crucial role in shaping future demandWhile the Purple and Green Lines have already boosted office residential and warehousing activity across key corridors the recently operational Yellow Line and upcoming Pink Line are likely to further transform the cityâs real estate landscape according to the reportThe Yellow Line network has improved connectivity to major employment hubs such as Electronic City while the Pink Line is expected to decongest central and southern parts of the city enhancing access to key commercial and residential zonesThe report has projected that office space demand in key micromarkets such as CBD SBD 2 and Electronic City could reach up to 7 million square feet over the next two years with rentals likely to rise by 510 per centResidential markets are already witnessing strong traction with housing prices in key locations projected to rise by up to 40 per cent driven by improved connectivity and increased developer activityIn the industrial and warehousing segment demand of 12 million square feet is expected across clusters such as Bommasandra Jigani and Harohalli supported by better logistics access and workforce mobilityLooking ahead the upcoming Blue Line connecting the Outer Ring Road and Kempegowda International Airport is expected to further unlock real estate potential in North Bengaluru reinforcing the cityâs position as a highgrowth infrastructureled market IANS https://dailyworld.in/business/housing-prices-in-bengaluru-may-rise-up-to-40-pc-on-metro-push-report-670659.html Wed, 22 Apr 2026 11:54:00 +0530 https://dailyworld.in/business/indias-textile-exports-rise-21-pc-to-over-rs-316-lakh-crore-in-fy26-670669.html New Delhi April 22 Indiaâs textile sector remained resilient in global markets with textile exports including handicrafts rising 21 per cent to Rs 3163349 crore in FY26 from earlier fiscal FY25 when it stood at Rs 3098593 crore an official statement said on Wednesday Readyâmade garments RMGs remained the largest contributor to exports with the segment increasing 29 per cent to Rs 1393496 crore while cotton yarn fabrics madeâups and handloom exports were broadly stable at Rs 1023997 crore an official statement saidManmade yarn fabrics and madeups posted a stronger growth of 36 per cent with exports increasing from Rs 411960 crore to Rs 426878 crore the Ministry of Textiles said in a statementAmong valueâadded segments handicrafts excluding handmade carpets recorded the strongest growth rising 61 per cent to Rs 158551 croreExports reached 120 destinations during April 2025 to February 2026 over the corresponding period of the previous year indicating broadbased geographical expansion in Indiaâs textile export basketA notable growth has been observed in key markets such as the UAE 223 per cent the UK 78 per cent Germany 99 per cent Spain 155 per cent Japan 206 per cent Egypt 383 per cent Nigeria 214 per cent Senegal 544 per cent and Sudan 2056 per cent etcThe government has continued to support the sector through key export facilitation and remission measures including the extension of the Rebate of State and Central Taxes and Levies RoSCTL Scheme and the RoDTEP Scheme beyond March 31 2026Indiaâs FTA agenda also saw major progress during 2025â26 with important implications for the textile and apparel sector The IndiaâEFTA TEPA entered into force on October 1 2025 The IndiaâUK CETA IndiaâOman CEPA IndiaâNew Zealand FTA and the IndiaâEU FTA were notable developments in the last two yearsCollectively these FTA developments are expected to improve preferential market access reduce tariff disadvantages support supplychain integration and open new opportunities for textiles apparel handicrafts and technical textiles thereby aiding market diversification export growth investment technology partnerships and Indiaâs deeper integration into global value chains IANS https://dailyworld.in/business/indias-textile-exports-rise-21-pc-to-over-rs-316-lakh-crore-in-fy26-670669.html Wed, 22 Apr 2026 12:17:00 +0530 https://dailyworld.in/business/ongc-cancels-jack-up-rig-tender-citing-pricing-concerns-670674.html New Delhi April 22 Staterun Oil and Natural Gas Corporation ONGC on Wednesday clarified that its decision to cancel a recent tender for hiring jackup rigs was based on concerns over pricing anomalies and potential collusive bidding The clarification comes in response to a media report suggesting the cancellation of the tenderThe PSU firm said that it follows established public procurement principles with a strong focus on transparency fairness and promoting healthy competitionIt also added that all participants are expected to submit genuinely competitive bids while any form of unfair trade practices including predatory pricing or collusive bidding is discouragedThe evaluation of the tender revealed an unusually steep rise of around 60 per cent in pricing levels with day rates increasing from 35606 to 56195 within a span of about nine months the company saidSuch an escalation was considered beyond reasonable and competitive market behaviour ONGC saidThe Maharatna PSU also stated that the overall bid patterns and prevailing global conditions raised concerns over possible collusive practicesAs a responsible public procurer ONGC was dutybound to examine these concerns which ultimately led to the decision to cancel the tender the company saidONGC reiterated that the move was aimed at safeguarding organisational interests ensuring prudent use of public funds and maintaining the integrity of the procurement process It added that the decision was based solely on pricing reasonableness competitive integrity and adherence to procurement norms without any external influenceThe company said it remains committed to transparent engagement with the industry and will continue to encourage fair and competitive participation while taking necessary steps to prevent cartelisation and protect the sanctity of its procurement processesShares of ONGC on Wednesday jumped as much as 068 per cent to hit an intraday high of Rs 28505 on the NSE by 1140 AM IANS https://dailyworld.in/business/ongc-cancels-jack-up-rig-tender-citing-pricing-concerns-670674.html Wed, 22 Apr 2026 13:00:00 +0530 https://dailyworld.in/business/gold-silver-rise-up-to-2-pc-amid-us-iran-ceasefire-extension-670685.html Mumbai April 22 IANS Gold and silver prices showed positive momentum on Wednesday over an extension of the ceasefire between the US and Iran with both precious metals rising up to 2 per centnbspOn the Multi Commodity Exchange MCX gold contracts for June 5 hit an intraday high of Rs 153699 per 10 grams up 133 per cent or Rs 2028 During the session gold touched a low of Rs 153052 and was last trading at Rs 153593 up Rs 1922 or 127 per centSilver contracts for May 5 rose over 2 per cent or about Rs 6000 to Rs 250698 per kg The metal hit an intraday low of Rs 248388In international markets both metals were trading higher Gold on COMEX was up 113 per cent at 477321 per ounce while silver gained 197 per cent to 7799 per ounceMarket experts said that despite the recent gains both metals remain rangebound with a cautious biasOn MCX gold was holding above Rs 153000 with emerging buying interest at lower levels but continued to trade within a consolidation phase A sustained move above Rs 155000 could push prices towards Rs 157000158000 while a break below Rs 152000 may trigger a correction towards Rs 150000148000 levelsSilver was trading in the Rs 248000250000 range with resistance seen at Rs 253000255000 A breakout above these levels could extend gains towards Rs 260000262000 while a drop below Rs 245000 may lead to further downside towards Rs 243000240000The rise in gold and silver prices was attributed to increasing global uncertaintyMeanwhile US President Donald Trump has extended the deadline for the ceasefire between the US and Iran although the duration and terms of the extension remain unclearMeanwhile Pakistan Prime Minister Shehbaz Sharif and Army Chief Asim Munir reportedly urged him to halt attacks on Iran for a longer period to allow more time for peace talksIANS https://dailyworld.in/business/gold-silver-rise-up-to-2-pc-amid-us-iran-ceasefire-extension-670685.html Wed, 22 Apr 2026 13:43:00 +0530 https://dailyworld.in/business/india-real-estate-land-deals-jumped-32-pc-to-rs-54-818-crore-in-2025-670688.html New Delhi April 22 The real estate industry in India witnessed a 32 per cent yearonyear surge in land acquisitions in 2025 with developers acquiring 3093 acres across 149 transactions valued at Rs 54818 crore according to a report released on Wednesday The report by JLL also said the acquired land is expected to unlock nearly 229 million square feet of development over the next two to five years reflecting strong developer confidence and sustained demandIt highlighted a skewed investment pattern with Tier I cities accounting for 89 per cent of total capital deployed despite representing only 52 per cent of land acquiredOn the other hand Tier II cities accounted for 48 per cent of land transactions but attracted just 11 per cent of investments which indicates lower land costs and emerging growth opportunitiesThe momentum has continued into 2026 with around 900 acres acquired in Q1 across key markets valued at nearly Rs 18000 croreThe report also stated that the Mumbai Metropolitan Region recorded the largest deal with an 11acre parcel transacted for Rs 5400 croreDeveloping these land parcels will require over Rs 92000 crore in construction capital with external funding needs estimated to exceed Rs 52000 croreThe report noted that this would likely drive increased participation from Alternative Investment Funds AIFs private credit providers and institutional investorsTier I cities are expected to absorb nearly 89 per cent of the capital required for upcoming developments due to higher project costs and premium real estate demand in major metrosMoreover residential development has remained the primary growth driver accounting for 78 per cent of land allocation and around 76 per cent of total funding requirements with an estimated construction cost exceeding Rs 72000 croreWhile office development has a projected capital requirement of about Rs 8700 crore suggesting continued demand for Grade A office spacesThe report also noted that individual landowners dominated the supply side accounting for 65 per cent of total transactionsWhile individual sellers were dominant in cities like Chennai Mumbai Bengaluru and Pune corporate entities led in Hyderabad and government bodies accounted for a majority of transactions in DelhiNCRIn the industrial and emerging asset segments developers are increasingly exploring opportunities in data centres logistics parks and other alternative real estate classes IANS https://dailyworld.in/business/india-real-estate-land-deals-jumped-32-pc-to-rs-54-818-crore-in-2025-670688.html Wed, 22 Apr 2026 13:59:00 +0530 https://dailyworld.in/business/lampt-clinches-long-term-deal-to-supply-green-ammonia-to-japans-itochu-670693.html New Delhi April 22 A subsidiary company of Larsen amp Toubro Ltd signed a longterm deal with Japans ITOCHU Corp on Wednesday to supply three lakh tonnes of green ammonia per annum from its proposed production facility at Kandla in Gujarat ITOCHU will utilise the green ammonia supplied by LampT Energy GreenTech Ltd to support its expanding green bunkering applications in Singapore and other locations aligned with its strategy to develop a global green ammonia ecosystem across key maritime trade routes a statement saidThe deal is a captive longterm takeorpay basis which means LTEGL is assured a customer in the Japanese company for the defined period By securing longterm demand through a reputed global partner like ITOCHU we are strengthening the commercial foundation of our green ammonia platform said Subramanian Sarma deputy managing director and president of LampTGreen ammonia is seen as a nextgeneration marine fuel for decarbonising the maritime sector Combining hydrogen produced through splitting water using renewable energy and nitrogen separated from the air produces green ammoniaThis latest agreement builds on the Joint Development Agreement JDA between the two companies signed in July 2025 and marks a significant progression in the partnership â from joint development to securing longterm demand It reinforces the collaboration between LTEGL and ITOCHU and advances the shared vision of establishing a globally competitive green ammonia value chain the company statement saidLTEGL focuses on accelerating the energy transition through green hydrogen and its derivatives It operates across three core pillars â Green Manufacturing Development and Engineering Procurement and Construction EPC â providing integrated solutions for decarbonisation including building electrolysers and largescale green hydrogen plants The company develops owns and operates green hydrogen projects including Indias largest green hydrogen plant at Indian Oilâs Panipat Refinery designed to supply tonnes annually for 25 yearsWith approximately 90 bases in 60 countries ITOCHU one of the leading sogo shosha Japanese general trading companies is engaging in domestic trading importexport and overseas trading of various products such as textile machinery metals minerals energy chemicals food general products realty information and communications technology and finance as well as business investment in Japan and overseas IANS https://dailyworld.in/business/lampt-clinches-long-term-deal-to-supply-green-ammonia-to-japans-itochu-670693.html Wed, 22 Apr 2026 14:32:00 +0530 https://dailyworld.in/business/hcl-tech-shares-plunge-10-pc-as-weak-earnings-trigger-broker-downgrades-670697.html Mumbai April 22 Shares of HCL Technologies tumbled sharply on Wednesday falling more than 10 per cent to Rs 1289 on the NSE as investor sentiment turned negative following a disappointing quarterly performance and subdued growth outlook The steep decline came after several brokerages downgraded the stock and cut their target prices citing concerns over weak revenue growth margin pressures and cautious forward guidanceThe companyâs earnings report highlighted multiple areas of concern Alongside its fourthquarter results HCL Technologies projected FY27 revenue growth of just 1â4 per cent yearonyear in constant currency termsThis guidance comes on the back of a miss in its FY26 outlook where the company delivered 39 per cent growth against its earlier guidance of 4â45 per centThe services segment outlook also remained underwhelming with expected growth of 15â45 per cent lower than the 48 per cent recorded in FY26The earnings disappointment triggered a significant erosion in shareholder wealth with the companyâs market capitalisation declining by approximately Rs 38000 crore to around Rs 353 lakh croreFor the March quarter revenue stood at 37 billion marking a 33 per cent sequential decline in constant currency and falling short of market expectationsManagement attributed the weak performance to several factors including reduced discretionary IT spending by two major US telecom clients cancellation of two SAPrelated projects and clientspecific challenges in the retail and manufacturing sectors These issues are expected to weigh on FY27 services growth by about 50 basis points Additionally the company flagged a softer demand outlook in Europe due to geopolitical uncertainties and estimated a 200â300 basis point deflationary impact from artificial intelligence on traditional IT servicesBrokerages responded with caution Jefferies adopted the most bearish stance downgrading the stock to âUnderperformâ and cutting its target price to Rs 1165The brokerage expects FY27 organic revenue growth of 24 per cent which would be the weakest since FY23 and reduced its valuation multiple amid concerns over slowing growth It also noted that the stock trades at a premium to peers despite similar growth prospectsOther firms echoed similar concerns Citi maintained a âNeutralâ rating but lowered its target price to Rs 1385 citing weak revenue performance subdued deal wins and sluggish forward indicators such as modest growth in deal bookings and headcount IANS https://dailyworld.in/business/hcl-tech-shares-plunge-10-pc-as-weak-earnings-trigger-broker-downgrades-670697.html Wed, 22 Apr 2026 14:35:00 +0530 https://dailyworld.in/business/tesla-launches-six-seater-model-y-l-in-india-at-rs-6199-lakh-deliveries-from-june-670716.html New Delhi April 22 Tesla on Wednesday unveiled the new sixseater Model Y L in India expanding its local portfolio with a familyfocused electric SUV designed for space comfort and performance The launch took place at the Ballard Pier Downtown Experience Centre with online bookings opening immediately on the companyâs official website The Model Y L will be available for public viewing starting April 23 2026 at Teslaâs experience centres in key locations including Bandra Kurla Complex in Mumbai Aerocity in Delhi and Gurugram The company said deliveries are expected to begin from June 2026 across IndiaPositioned as a premium family vehicle the Model Y L offers a claimed driving range of up to 681 km WLTP and can accelerate from 0 to 100 kmh in 50 seconds It features a threerow sixseat configuration with a focus on maximizing cabin space comfort and versatility The secondrow captain seats come equipped with powered armrests ventilation heating and onetouch folding while the third row offers power recline climate control vents and easyfold functionalityThe vehicle also emphasises ride comfort and refinement It includes acoustic glass an upgraded suspension system and adaptive damping technology to improve handling and reduce road vibrationsA premium incar experience is supported by an 18speaker audio system with a subwoofer along with connected features such as live traffic visualization satelliteview maps realtime camera access and streaming services including Spotify Apple Music YouTube and NetflixTesla has priced the Model Y L starting at Rs 6199 lakh with financing options beginning at Rs 49000 per month The launch marks another step in Teslaâs expansion in India where the company is also strengthening its charging and service infrastructureCurrently Tesla operates five Supercharger stations in India with a total of 20 Superchargers and 14 Wall Connectors The company plans to add seven more Supercharger stations along major highways connecting cities such as Delhi Chandigarh Jaipur Ahmedabad Mumbai Pune Bengaluru Hyderabad and ChennaiOn the service front Tesla continues to rely on its directtocustomer model offering overtheair software updates and remote diagnostics to minimise maintenance requirements IANS https://dailyworld.in/business/tesla-launches-six-seater-model-y-l-in-india-at-rs-6199-lakh-deliveries-from-june-670716.html Wed, 22 Apr 2026 15:53:00 +0530 https://dailyworld.in/business/ai-boom-to-push-global-it-spending-to-631-trillion-in-2026-report-670718.html New Delhi April 22 Global IT spending is pegged to reach 631 trillion in 2026 an increase of 135 per cent from 2025 because of the accelerating adoption of artificial intelligence AI a report said on Wednesday The surge is fuelled by rapid investments in AI infrastructure advanced memory and highperformance computing systems as enterprises scale AI workloads according to a Gartner analysisSegmentwise data centre systems are expected to record the fastest growth rising nearly 56 per cent in 2026 to approximately 788 billion indicating strong demand from hyperscale cloud providers and enterprises investing heavily in AIdriven capabilitiesOther segments such as devices software IT services and communications services are also expected to grow by up to 15 per cent in 2026According to the Gartner forecast data centre systems spending is expected to reach 7879 billion in 2026Meanwhile software spending is projected to increase to 144 trillion while IT services the largest segment is set to grow to 187 trillion Device spending is estimated to reach 8561 billion while communications services are likely to expand to 135 trillionThe report highlighted that spending on software sees robust growth due to increased investments in generative AI GenAI model development and AIenabled applicationsMeanwhile device spending growth may be moderated by rising memory costs and extended replacement cycles the report addedThis latest forecast underscores the accelerating momentum in AI infrastructure and advanced memory said JohnDavid Lovelock Distinguished VP Analyst at GartnerAs AI workloads scale data centre investment is ramping rapidly which in turn is driving increased demand for highperformance compute he addedGartner noted that strong demand coupled with supply constraints has led to record price increases in highbandwidth memory making it a key opportunity area for semiconductor companiesThe report highlighted a widening divergence in the IT market with AI infrastructure and GenAI software segments witnessing significantly stronger growth compared to traditional IT categoriesHowever hyperscale cloud demand is expected to further accelerate investments in servers and data centres reinforcing AI infrastructure as the most attractive segment for capital deployment IANS https://dailyworld.in/business/ai-boom-to-push-global-it-spending-to-631-trillion-in-2026-report-670718.html Wed, 22 Apr 2026 15:54:00 +0530 https://dailyworld.in/business/sensex-nears-79-000-on-softer-crude-easing-geopolitical-tensions-670523.html Mumbai April 21 The Indian stock markets traded higher in early deals on Tuesday supported by hopes of a peace deal between the United States and Iran along with a decline in crude oil prices Sensex rose 056 per cent or 445 points to hit an intraday high of 78966 while Nifty climbed 048 per cent or 118 points to 24483 amid buying in realty banking metal consumer durables and chemical stocksSectorally Nifty Realty Nifty Private Bank Nifty Metal Nifty Consumer Durables Nifty PSU Bank Nifty Chemicals and Nifty FMCG rose 188 per cent 1 per cent 093 per cent 073 per cent 065 per cent 062 per cent and 060 per cent respectivelyMeanwhile SBI Life HDFC Life Infosys Dr Reddys Laboratories BEL Tech Mahindra Max Healthcare TCS Cipla and Eicher Motors were among the top losers in early tradeBroader markets also saw buying interest with smallcap and midcap indices emerging as top gainersThe positive momentum followed reports that Iran is considering attending peace talks with the US in Pakistan amid efforts by Islamabad to end a US blockade of Iranian portsOn Monday foreign institutional investors FIIs were net sellers offloading equities worth Rs 105993 crore while domestic institutional investors DIIs were net buyers with inflows of Rs 296689 croreAnalysts said the market setup points to a mildly positive to rangebound sessionHowever the sharp rise in volatility coupled with FII selling and ongoing consolidation near resistance levels suggests that profit booking or sideways movement cannot be ruled out they addedOn the commodities front Brent crude futures fell 093 per cent to 9459 per barrel while US West Texas Intermediate WTI declined 219 per cent to 855In global markets Wall Street ended marginally lower with major indices easing after logging their third consecutive weekly gains as renewed USIran tensions cast doubt on the durability of a twoweek ceasefireThe SampP 500 fell 1692 points or 024 per cent to 710914 while the Nasdaq declined 6409 points or 026 per cent to 2440439Asian markets were mixed The Nikkei Hang Seng and KOSPI traded up to 2 per cent higher while the Jakarta Composite and Shanghai Composite fell up to 1 per cent IANS https://dailyworld.in/business/sensex-nears-79-000-on-softer-crude-easing-geopolitical-tensions-670523.html Tue, 21 Apr 2026 12:22:00 +0530 https://dailyworld.in/business/crude-oil-trade-up-to-2-pc-lower-as-west-asia-talks-enter-crucial-negotiations-670538.html Mumbai April 21 Global crude oil prices witnessed decline on Tuesday reversing the previous sessionâs gains amid expectations that upcoming talks between the United States and Iran could ease tensions International oil benchmark Brent crude futures declined as much as 131 per cent to 9422 per barrel hitting an intraday lowMeanwhile US West Texas Intermediate WTI traded at 855 down 219 per cent from the previous closeHowever both crude benchmarks had rallied strongly on Monday with Brent rising 56 per cent and WTI surging 69 per cent after Iran again shut the Strait of HormuzOn the domestic front crude oil on the Multi Commodity Exchange MCX was trading 175 per cent lower at Rs 8040 an intraday lowMeanwhile the United States had seized an Iranian cargo vessel as part of its blockade of Iranian portsHowever Iranâs top negotiator and Parliament Speaker Mohammad Baqer Qalibaf reportedly reiterated that Tehran would not engage in talks under pressureOn Monday shipping activity through the Strait of Hormuz which handles about onefifth of global oil supply remained constrainedIn addition US President Donald Trump said he believed a nuclear deal currently being negotiated with Iran would be better than the 2015 international agreement aimed at curbing Tehranâs nuclear programmeâThe deal that we are making with Iran will be far better than the JCPOA commonly referred to as âthe Iran nuclear dealââ Trump said on his social media platform Truth SocialOn the equities front domestic benchmarks Sensex and Nifty traded higher with the indices rising nearly 1 per cent and the 30share Sensex reclaiming the 79000 level in early tradeIn global markets Wall Street ended marginally lower while Asian shares traded on mixed note IANS https://dailyworld.in/business/crude-oil-trade-up-to-2-pc-lower-as-west-asia-talks-enter-crucial-negotiations-670538.html Tue, 21 Apr 2026 12:40:00 +0530 https://dailyworld.in/business/crude-oil-prices-down-up-to-2-pc-as-west-asia-talks-enter-crucial-negotiations-670540.html Mumbai April 21 Global crude oil prices witnessed decline on Tuesday reversing the previous sessionâs gains amid expectations that upcoming talks between the United States and Iran could ease tensions International oil benchmark Brent crude futures declined as much as 131 per cent to 9422 per barrel hitting an intraday lowMeanwhile US West Texas Intermediate WTI traded at 855 down 219 per cent from the previous closeHowever both crude benchmarks had rallied strongly on Monday with Brent rising 56 per cent and WTI surging 69 per cent after Iran again shut the Strait of HormuzOn the domestic front crude oil on the Multi Commodity Exchange MCX was trading 175 per cent lower at Rs 8040 an intraday lowMeanwhile the United States had seized an Iranian cargo vessel as part of its blockade of Iranian portsHowever Iranâs top negotiator and Parliament Speaker Mohammad Baqer Qalibaf reportedly reiterated that Tehran would not engage in talks under pressureOn Monday shipping activity through the Strait of Hormuz which handles about onefifth of global oil supply remained constrainedIn addition US President Donald Trump said he believed a nuclear deal currently being negotiated with Iran would be better than the 2015 international agreement aimed at curbing Tehranâs nuclear programmeâThe deal that we are making with Iran will be far better than the JCPOA commonly referred to as âthe Iran nuclear dealââ Trump said on his social media platform Truth SocialOn the equities front domestic benchmarks Sensex and Nifty traded higher with the indices rising nearly 1 per cent and the 30share Sensex reclaiming the 79000 level in early tradeIn global markets Wall Street ended marginally lower while Asian shares traded on mixed note IANS https://dailyworld.in/business/crude-oil-prices-down-up-to-2-pc-as-west-asia-talks-enter-crucial-negotiations-670540.html Tue, 21 Apr 2026 12:41:00 +0530 https://dailyworld.in/business/indias-economy-expected-to-grow-64-pc-in-2026-66-pc-in-2027-un-report-670546.html New Delhi April 21 Indiaâs economy is projected to expand by 64 per cent in 2026 and 66 per cent in 2027 a new United Nations UN report has said The report from United Nations Economic and Social Commission for Asia and the Pacific ESCAP said that economies in South and SouthâWest Asia grew 54 per cent in 2025 up from 52 per cent in 2024 driven largely by Indias strong growth of 74 per cent in 2025The report further stated that robust rural consumption goods and services tax cuts and export frontâloading ahead of the United States tariffs supported Indias strong growthHowever the economic activity moderated in the H2 CY2025 after exports to the United States fell 25 per cent following the introduction of 50 per cent tariffs in August 2025 Services remained a key growth driver THE United Nations saidInflation in India is forecast at 44 per cent in 2026 and 43 per cent in 2027 the report addedThe report noted that FDI inflows to developing Asian and Pacific economies declined amid trade tensions and geopolitical uncertainty after a 06 per cent surge in 2024 FDI to the region has dipped 2 per cent in 2025 even as global flows surged by 14 per centWithin the AsiaPacific region the countries that attracted the largest share of greenfield FDI in the first three quarters were India Australia the Republic of Korea and Kazakhstan with 50 billion 30 billion 25 billion and 21 billion in announced investments respectively the report saidAsian and Pacific workers working overseas increased their personal remittances cushioned the impact of vulnerable domestic employment conditions and helped sustain household consumptionAbout 40 per cent of the remittances are used for essential spending in India and the Philippines such as medical expensesHowever as the worlds largest remittance recipient of 137 billion in 2024 India could face a sizeable loss as the United States has levied a 1 per cent tax on all remittances since January 2026 it saidThe report lauded Indias productionlinked incentive scheme as a proof of macroeconomic policy fostering green industrial development through incentives for domestic manufacturing of solar photovoltaic batteries and green hydrogenThe scheme reduced import dependence and created new industrial beneficiaries with a vested interest in sustaining the transition the report noted IANS https://dailyworld.in/business/indias-economy-expected-to-grow-64-pc-in-2026-66-pc-in-2027-un-report-670546.html Tue, 21 Apr 2026 12:46:00 +0530 https://dailyworld.in/business/after-tim-cook-apples-india-story-likely-to-accelerate-under-john-ternus--670551.html New Delhi April 21 Apple CEO Tim Cook who is set to step down in September leaves behind not just a 4 trillion company but a fundamentally repositioned India story that his successor John Ternus will be expected to take forward The companyâs strategic push in India is likely to gather further momentum under Ternus with experts underscoring the countryâs growing importance as both a manufacturing hub and a key consumer marketAccording to experts under Cookâs leadership India has emerged as one of Appleâs most critical markets globally spanning production retail expansion and a rapidly growing user ecosystemThey believe that India will continue to play a dual role for Apple as a major production base and a highgrowth market shaping the next phase of its global expansionTarun Pathak Research Director at Counterpoint Research said Cook played a pivotal role in unlocking Indiaâs potential and positioning it at the centre of Appleâs longterm strategyHe noted that Cook not only drove Appleâs manufacturing push and retail expansion in India but also built strong connections with developers and users deepening engagement with the local marketPathak added that Ternus will need to build on this foundation especially given Indiaâs longterm growth potential with his engineeringled background and leadership style likely to resonate with the countryâs young and aspirational user basePrabhu Ram Vice President at CyberMedia Research CMR said India is increasingly central to Appleâs global supply chain diversification strategyHe pointed out that Apple now assembles about a quarter of its global iPhones in India positioning the country to drive the companyâs future growth trajectory similar to the role China played in the pastRam also highlighted that Cookâs tenure was marked by strong execution and adaptability particularly in navigating geopolitical challenges and reducing dependence on China by scaling up manufacturing in markets like India and VietnamAnnouncing his decision to step down Cook who has led Apple since 2011 said It has been the greatest privilege of my life to be the CEO of AppleDuring Cookâs tenure Appleâs market capitalisation surged to around 4 trillion from about 350 billion while annual revenues nearly quadrupled to over 416 billion according to the companyHowever in March Cook had dismissed speculation about stepping down calling such reports a rumour and reaffirming his commitment to leading the company IANS https://dailyworld.in/business/after-tim-cook-apples-india-story-likely-to-accelerate-under-john-ternus--670551.html Tue, 21 Apr 2026 13:17:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-slip-up-to-1-pc-amid-global-uncertainty-670558.html Mumbai April 21 Gold and silver prices declined on Tuesday amid prevailing global uncertainty with both precious metals trading lower by up to around 1 per cent On the Multi Commodity Exchange MCX gold contracts for June 5 were trading at Rs 153415 down 034 per cent or Rs 528 The yellow metal was at Rs 153585 per 10 grams a decline of Rs 358 or 023 per cent at around 1155 am It touched an intraday high of Rs 153992On the other hand silver futures contracts for May 5 were down around 092 per cent or Rs 2335 at Rs 250210 The white metal recorded an intraday high of Rs 251743 and was trading at Rs 250903 per kg down Rs 1642 or 065 per centIn the international markets as well both precious metals were trading in the red COMEX gold fell 043 per cent to 4807 per ounce while silver declined 144 per cent to 78885 per ounceA commodity market expert said that uncertainty surrounding the USIran ceasefire and upcoming macroeconomic events has led to cautious sentiment resulting in a marginal dip in gold pricesAccording to the analyst markets remained on edge over whether fresh peace talks would materialise before the ceasefire expires this week with conflicting signals from both sides adding to volatilityWhile US President Donald Trump confirmed that a delegation led by Vice President JD Vance would travel to Pakistan for negotiations Iranian officials indicated that talks were unlikely as long as the US naval blockade remains in place However reports suggested Tehran may still participate through regional mediators Geopolitical risks were further underscored by recent developments including the US capture of an Iranflagged vesselThe expert added that alongside geopolitical developments investor focus has shifted to domestic factors particularly the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh His relatively hawkish stance on monetary policy and preference for a leaner balance sheet have previously weighed on bullionWith uncertainty around both geopolitics and the policy outlook persisting gold remains under pressureEchoing this trend oil prices also declined by up to 2 per centBrent crude futures fell 171 per cent to 9384 per barrel hitting an intraday low as of 1230 pm while US West Texas Intermediate WTI traded at 855 down 2 per cent from the previous close IANS https://dailyworld.in/business/gold-and-silver-prices-slip-up-to-1-pc-amid-global-uncertainty-670558.html Tue, 21 Apr 2026 13:25:00 +0530 https://dailyworld.in/business/india-holds-fuel-prices-steady-as-us-uae-australia-pak-see-sharp-surge-670574.html New Delhi April 21 IANS Even after escalation in West Asia conflict and rise in Brent crude oil prices due to the closure of Strait of Hormuz the fuel prices remain unchanged in India while many countries have witnessed a jump of up to 85 per centnbspData by Kotak highlighted a sharp divergence between India and both advanced and emerging countries where consumers have faced increases in fuel prices so far this year reports NDTV ProfitOn the diesel front prices have witnessed a sharp rise in several countries in recent months amid geopolitical tensionsCountrywise the UAE saw an increase of around 85 per cent followed by Australia and the United States which recorded rises of more than 65 per cent and 62 per cent respectively Meanwhile in Canada Pakistan France Sri Lanka and Britain prices rose between 35 per cent and 53 per centMoreover countries where prices increased more modestly include China and Brazil while Russia stands out as an exception with diesel prices rising only slightly by over 1 per centIn contrast diesel prices in India have remained unchanged at Rs 876 per litre compared to January levels indicating zero increase despite the USIran tensionsA similar trend has been observed in petrol prices Neighbouring Pakistan has seen the highest a 44 per cent jump in petrol prices followed by the United States 42 per cent and the UAE 36 per centMeanwhile petrol prices in Canada Sri Lanka and China have risen by up to 34 per cent while Australia Britain and France recorded relatively moderate gainsAmong countries with modest increases Brazil and Russia reported hikes of over 7 per cent and 1 per cent respectivelyIn India retail petrol prices have been kept at Rs 947 per litre compared to January levels indicating no increase for consumersIndias unchanged fuel prices highlight the degree of price stabilisation enabled by policy interventions and publicsector oil marketing company OMC pricing Despite volatility in global fuel markets Indian consumers have largely been shielded from the immediate passthrough of international price pressuresIn a first since fuel price deregulation staterun OMCs are paying refineries a discounted price for petrol diesel aviation turbine fuel ATF and kerosene in a bid to curb mounting losses arising from a selfimposed freeze on retail fuel prices according to reportsIn another report prominent brokerage Macquarie said that at spot petroldiesel pricing of 135165 per barrel we estimate Indias oil marketing companies incur losses of Rs 18 per litre on petrol and Rs 35 per litre on dieselThe report added that every 10 per barrel increase in crude prices raises marketing losses by around Rs 6 per litreIANS https://dailyworld.in/business/india-holds-fuel-prices-steady-as-us-uae-australia-pak-see-sharp-surge-670574.html Tue, 21 Apr 2026 14:25:00 +0530 https://dailyworld.in/business/indias-two-wheeler-sales-volume-touch-record-high-of-22-mn-in-fy26-report-670575.html New Delhi April 21 Indiaâs twowheeler sales touched record high in FY26 with domestic wholesale volumes surging to around 22 million units a report said on Tuesday The report from ICRA estimated that wholesale volumes grew by around 20 per cent in March 2026 while retail volumes jumped 287 per cent on a YoY basis and twowheeler domestic volumes grew by approximately 11 per cent for the full fiscal yearThe ratings agency forecasted twowheeler wholesale volume growth to moderate to 3â5 per cent YoY in FY2027 constrained by a higher base and a weak monsoon outlook on account of El Nino occurrence which is likely to dampen rural demand However demand is expected to remain supported by GST rationalisation and improved replacement demand the report saidDomestic wholesale volumes recorded a growth of 102 per cent YoY in FY2026 as GST reforms supported volume growth in both Q3 and Q4 Compared with modest growth of around 1 per cent in H1 industry volumes surged by 203 per cent in H2 FY26Retail sales grew by 287 per cent YoY in March 2026 and around 13 per cent for FY26 the report saidThe uptick was supported by GST reforms improvement in rural cash flows and supportive macroeconomic measuresâincluding reporate cuts and income tax reliefâwhich helped strengthen consumer demand it notedA broadening product portfolio catering to both entrylevel and aspirational segments further aided growthElectric twowheelers gained traction as their retail volumes rose sharply to 192023 units in March 2026 up 474 per cent YoY Electric twowheeler volumes grew by 219 per cent YoY in FY26 Penetration of e2W within the twowheeler segment increased to 94 per cent in March 2026 and stood at 33 per cent for the full fiscal yearMonthly export volumes reported a growth of 175 per cent YoY in March 2026 despite headwinds in certain overseas markets Overall export volumes grew by 233 per cent in FY26 aided by expanding product offerings and improving global recognition of Indian twowheeler brandsThe ongoing conflict in West Asia poses potential supply chain and export risks with industry participants closely monitoring the evolving geopolitical situation the ratings agency said IANS https://dailyworld.in/business/indias-two-wheeler-sales-volume-touch-record-high-of-22-mn-in-fy26-report-670575.html Tue, 21 Apr 2026 14:39:00 +0530 https://dailyworld.in/business/adani-powers-arm-sets-up-new-atomic-energy-subsidiary-670582.html Ahmedabad April 21 Adani Power Limited on Tuesday announced the incorporation of a new stepdown whollyowned subsidiary as it strengthens its presence in the atomicnuclear energy space In a regulatory filing the Adani Group company said its whollyowned subsidiary Adani Atomic Energy Limited AAEL has set up RawatbhataRaj Atomic Energy Limited RRAELâWe would like to inform that Adani Atomic Energy Limited AAEL a whollyowned subsidiary of the Company has incorporated a whollyowned subsidiary namely RawatbhataRaj Atomic Energy Limited RRAEL on April 20â Adani Power saidThe entity was incorporated on April 20 2026 in India with an authorised capital of Rs 5 lakh divided into 50000 equity shares of Rs 10 eachâRRAEL has been incorporated with authorised capital of Rs 500000 divided into 50000 equity shares of Rs 10 eachâ it saidThe company clarified that RRAEL is a whollyowned subsidiary of AAEL which itself is fully owned by Adani Power making it a stepdown subsidiary within the groupâs structureâ100 per cent of the shareholding of RRAEL is held by AAEL 100 per cent of the shareholding of AAEL is held by Adani Power Limitedâ it notedIn a parallel development on the same day another group entity Adani Energy incorporated a stepdown wholly owned subsidiary named CoastalMaha Atomic Energy LimitedThis entity will operate in the nuclear energy segment and will be engaged in the generation transmission and distribution of electricity derived from atomic energyâTo generate transmit and distribute power derived from nuclear andor atomic energyâ it said in its stock exchange filingThe backtoback incorporations signal the Adani Groupâs growing interest in the nuclear power sector aligning with Indiaâs longterm energy transition goalsAt present Indiaâs installed nuclear power capacity stands at 87 gigawatts The country has set an ambitious target to scale this capacity to 100 gigawatts by 2047 as part of its broader clean energy roadmap IANS https://dailyworld.in/business/adani-powers-arm-sets-up-new-atomic-energy-subsidiary-670582.html Tue, 21 Apr 2026 15:30:00 +0530 https://dailyworld.in/business/indian-banks-credit-grows-161-pc-cd-ratio-stays-high-report-670588.html New Delhi April 21 Bank credit in India stood at Rs 2136 lakh crore for the fortnight ending March 31 registering an annual growth of 161 per cent for the reported period up from 11 per cent in the same period prior year a report said on Tuesday The report from CareEdge ratings said credit growth in Indian banks continued to outpace deposit accretion widening the differential to about 260 basis pointsCreditâDeposit CD ratio remained elevated at 814 per cent for the fortnight ended March 31 2026 though it moderated sequentially from its record high of 83 per centThe report added that credit expanded by Rs 6 lakh crore or 28 per cent sequentially reflecting typical yearâend acceleration in disbursementsCredit growth was also supported by sustained traction in retail lending particularly gold and vehicle loans alongside robust MSME financing increased bank exposure to nonbanking financial companies and opportunistic corporate borrowingAggregate bank deposits rose to Rs 2623 lakh crore up 135 per cent yearâonâyear However on a sequential basis deposits increased by 49 per cent in the previous fortnight supported by typical yearend seasonality and liquidity flowsTime deposits which account for 859 per cent of total deposits grew by 108 per cent yoy to Rs 2254 lakh crore marginally higher than the 105 per cent growth recorded a year ago Demand deposits too witnessed an acceleration rising 324 per cent YoY significantly above the 68 per cent growth in prior yearThe credittototal assets ratio stood at 739 per cent as on Marchend easing marginally by 30 bps from the previous fortnightAnother recent report said that bank credit is likely to grow around 13 per cent this fiscal driven by healthy growth in the micro small and medium enterprise and retail sectors as well as a corporate preference for bank loans over bond issuance IANS https://dailyworld.in/business/indian-banks-credit-grows-161-pc-cd-ratio-stays-high-report-670588.html Tue, 21 Apr 2026 16:20:00 +0530 https://dailyworld.in/business/india-plans-semiconductor-mission-20-with-up-to-rs-12-lakh-crore-outlay-report-670589.html New Delhi April 21 The government is preparing to roll out an expanded version of the India Semiconductor Mission ISM 20 likely by May with a proposed outlay ranging between Rs 1 lakh crore and Rs 12 lakh crore According to the NDTV Profit report interministerial consultations are currently underway while the Ministry of Electronics and Information Technology MeitY is awaiting final approval from the Finance MinistryThe proposed allocation is significantly higher than the Rs 76000 crore earmarked for the first phase of the semiconductor mission said the report citing sourcesUnder ISM 20 the government aims to widen the scope of the programme beyond chip fabrication and design to include support for semiconductor equipment raw materials and other critical inputs while also focusing on building fullstack intellectual property and strengthening supply chain resilience it saidThe move comes amid disruptions in global supply chains and increasing geopolitical uncertaintiesAncillary players such as gas suppliers specialty chemical manufacturers MSMEs and other ecosystem participants are expected to play a key role in the revamped frameworkA major feature of the second phase is a revamped designlinked incentive DLI 20 scheme which is likely to allow foreign firms to partner with Indian companies for semiconductor research and development within the countryThe initiative is expected to accelerate innovation and support the emergence of up to 50 fabless semiconductor design firms in the coming yearsUnder the first phase of the mission 10 semiconductor projects worth about Rs 16 lakh crore have been approved across six states spanning fabrication assembly testing and packaging facilities contributing to the development of a domestic semiconductor ecosystemIn March 2025 at Indias first Nano Electronics Roadshow S Krishnan Secretary MeitY had said that the domestic semiconductor demand market is expected to grow up to 110 billion by 2030Officials said ISM 20 is aligned with the governmentâs longterm objective of reducing dependence on imported chips and strengthening Indiaâs position in the global semiconductor value chain Under the mission India is projected to develop capabilities to meet nearly 75 per cent of its domestic semiconductor demand by 2030The roadmap also targets advanced manufacturing nodes such as 3nanometre and 2nanometre technologies with an ambition to position India among the top semiconductor nations globally by 2035The push comes as major economies including the US European Union Japan and South Korea ramp up efforts to localise semiconductor production and diversify supply chains beyond a few concentrated hubsFinance Minister Nirmala Sitharaman has announced ISM 20 in the Union Budget 2026â27 which earmarked an initial allocation of Rs 1000 croreShe had said that the scheme already has investment commitments at double the target It has now been proposed to increase the outlay to Rs 40000 crore to capitalise on the momentum FM Sitharaman said in the Budget speech IANS https://dailyworld.in/business/india-plans-semiconductor-mission-20-with-up-to-rs-12-lakh-crore-outlay-report-670589.html Tue, 21 Apr 2026 16:24:00 +0530 https://dailyworld.in/business/oberoi-realtys-fy26-unit-sales-drop-25-pc-q4-bookings-surge-670594.html Mumbai April 21 Oberoi Realty has reported a 2486 per cent decline in the number of units sold in FY26 even as the company posted a sharp rise in quarterly bookings driven by strong demand for premium housing The Mumbaibased developer said the total number of units booked during the financial year fell to 698 units compared to 929 units in FY25 according to its stock exchange filingThe total carpet area booked during the year also declined by 1061 per cent to 1147557 square feet it added in its filingDespite the annual dip in volumes the company recorded a modest 314 per cent yearonyear increase in booking value which stood at Rs 5447 crore for FY26The data suggested that demand remained skewed towards highvalue properties even as the number of transactions declinedIn contrast the fourth quarter of FY26 delivered a strong performance Gross bookings nearly doubled to Rs 1673 crore marking a 9613 per cent increase from Rs 853 crore in the corresponding quarter last financial yearThe number of units booked during the quarter rose significantly to 229 units from 78 units a year agoThe carpet area booked in Q4 FY26 surged 16037 per cent yearonyear to 357552 square feet as per the filingSequentially as well the company saw strong momentum with booking value rising 10011 per cent quarteronquarter and units booked increasing by 7615 per centThe booked carpet area grew 9217 per cent over the previous quarter the real estate developer said in its filingThe shares of the company were trading Rs 3260 or 192 per cent during last leg trading session In last five days the shares were up by Rs 211 or 124 per centHowever the gain pronounced on higher timeframe as it delivered Rs 3152 or 2233 per cent in last one monthOberoi Realty led by Chairman and Managing Director Vikas Oberoi has over four decades of experience in the real estate sector continues to focus on highend residential commercial retail and hospitality developments IANS https://dailyworld.in/business/oberoi-realtys-fy26-unit-sales-drop-25-pc-q4-bookings-surge-670594.html Tue, 21 Apr 2026 17:17:00 +0530 https://dailyworld.in/business/india-has-potential-to-unlock-rs-78-500-crore-value-from-textile-waste-report-670596.html New Delhi April 21 India has the potential to unlock about 94 billion nearly Rs 78500 crore in value from its textile waste annually by strengthening collection sorting and recycling systems a new report showed on Tuesday The joint report by FICCI and the Resource Efficiency and Circular Economy Industry Coalition RECEIC said India generates around 725 million tonnes of textile waste annually but a significant share remains underutilised due to fragmented collection systems lack of standardised sorting and limited recycling capacityNearly 94 billion of value is currently unrealised largely due to inefficiencies across collection sorting and recyclingImportantly about 85 per cent of this value lies in reuse pathways which remain underdeveloped said the reportTo unlock the opportunity the FICCIâRECEIC report recommends a national Extended Producer Responsibility EPR framework for textiles investment in collection and sorting infrastructure standardised grading and traceability systems integration of informal sector workers and expansion of recycling capacityPostconsumer textile waste systems are highly fragmented with nearly 45 per cent of waste not entering recovery pathways and instead being diverted to landfill or incinerationâA key bottleneck identified is sorting described as the âvalue gateâ of the textile waste ecosystem However over 95 per cent of sorting in India is manual with limited technology adoption and absence of a standardised grading frameworkâ said the reportThe report also noted policy and infrastructure gaps including the absence of a dedicated Extended Producer Responsibility EPR framework for textiles weak source segregation and inadequate traceability mechanismsOn recycling Indiaâs ecosystem is dominated by mechanical processes with limited chemical recycling capacity constraining the ability to handle blended fabrics and scale circularity it addedâWhile circular materials can significantly enhance supply chain resilience and reduce dependence on virgin resources achieving this will require coordinated action across policy industry and infrastructureâ said the report IANS https://dailyworld.in/business/india-has-potential-to-unlock-rs-78-500-crore-value-from-textile-waste-report-670596.html Tue, 21 Apr 2026 17:20:00 +0530 https://dailyworld.in/business/sensex-nifty-extend-rally-for-3rd-day-on-hopes-of-us-iran-ceasefire-extension-670599.html Mumbai April 21 Indian equity benchmarks extended their gains for a third consecutive session on Tuesday as investor sentiment improved amid expectations that the United States and Iran may prolong their ceasefire during upcoming talks The Nifty and the Sensex ended higher supported by buying in select heavyweight stocks and optimism around easing geopolitical tensions in West AsiaAt the closing bell the Nifty was at 2457660 up by 087 per cent or 21175 points The Sensex ended the intraday session 096 per cent or 75303 points higher at 7927333Commenting on Nifty technical outlook experts said that the 24600 level now acts as an immediate resistance where minor supply was observedâA decisive breakout and sustained move above this level could open further upside toward 24850 followed by the key psychological level of 25000 where stronger supply is expectedâ an analyst statedâOn the downside the 24350â24400 range has now turned into an immediate support zone after acting as resistance earlierâ an analyst mentionedAmong the top gainers on the Nifty were Nestle India Trent and Hindustan Unilever which helped lift the benchmark indexBroader markets also reflected positive momentum with the Nifty MidCap index closing 049 per cent higher and the Nifty SmallCap index rising 088 per centOn the sectoral front the Nifty FMCG and the Nifty Realty outperformed other indices driven by strong buying interestIn contrast the Nifty Pharma lagged and emerged as the worstperforming sector for the dayInvestors remained cautiously optimistic about geopolitical developments as both Iranian and US delegations along with US Vice President JD Vance are expected to participate in talks aimed at reaching a broader agreement to end hostilities in the regionHowever uncertainty persists as tensions between the two countries escalated ahead of the meetingIranâs Parliament Speaker Mohammad Bagher Ghalibaf said in a post on X that Tehran does not support negotiations under threats and indicated that the country is prepared to respond strongly if requiredEarlier US President Donald Trump warned that failure to reach an agreement before the ceasefire deadline could trigger fresh military escalation stating that âa lot of bombsâ could go off if talks collapseIndian equities are expected to continue their gradual upmove supported by improving macros easing crude and strong Q4 earnings momentum an analyst stated IANS https://dailyworld.in/business/sensex-nifty-extend-rally-for-3rd-day-on-hopes-of-us-iran-ceasefire-extension-670599.html Tue, 21 Apr 2026 17:24:00 +0530 https://dailyworld.in/business/us-ramps-up-pace-for-critical-minerals-in-africa-to-counter-china-670474.html New Delhi April 20 The US is stepping up its investments in infrastructure projects in Africa to counter Chinaâs influence as the race for critical minerals such as copper cobalt lithium and rare earth elements gathers pace in the aftermath of the trade war between the two countries Chinese engagement in African mining operations has evolved into comprehensive value chain integration spanning exploration production transport and processing stages Major Chinese companies have established significant operational presence across key mineralproducing regions creating interconnected systems that extend beyond individual mining projectsThe scale of Chinese involvement extends beyond operational control to encompass transportation networks processing facilities and export logistics This vertical integration creates comprehensive systems where African mineral production becomes embedded within Chinesecontrolled value chains increasing technical and economic dependencies for host countriesThe US strategy emphasises infrastructure development as a mechanism for gaining market access and operational influence Transportation corridor development aims to create alternative routing options for African mineral exports reducing dependence on Chinesecontrolled logistics networks while providing competitive export pathways for mineral producersPort modernisation and logistics optimisation focus on increasing throughput capacity and reducing transportation costs The Lobito Corridor represents the primary implementation of this approach targeting 46 million tonnes of annual capacity through railway rehabilitation and port terminal upgrades These improvements aim to reduce transit times by 29 days and transportation costs by 30 per cent compared to existing routesFinancing mechanisms utilise development finance institutions to provide competitive alternatives to Chinese infrastructure financing The US International Development Finance Corporation provides loan guarantees and direct financing for infrastructure projects that create mineral export pathways aligned with US strategic objectives Additionally the US mineral production order has strengthened national security priorities in mineral developmentChinese dominance in critical minerals is most pronounced in downstream processing operations where significant value creation occurs China processes 80 per cent of global cobalt refining 40 per cent of global copper smelting and 60 per cent of global lithium processing according to industry assessmentsThe integrated nature of Chinese operations creates comprehensive dependency relationships Raw ore extracted from African mines typically requires processing in Chinese facilities to achieve batterygrade specifications This processing stage captures 4060 per cent of total value creation while raw ore extraction typically captures only 510 per cent of final product valueTransportation route dependencies reinforce value chain control Chinese companies have invested in railway infrastructure port facilities and logistics networks that channel African mineral exports toward Chinese processing facilities These infrastructure investments create longterm routing dependencies that persist beyond individual mining project lifecycles IANS https://dailyworld.in/business/us-ramps-up-pace-for-critical-minerals-in-africa-to-counter-china-670474.html Mon, 20 Apr 2026 21:20:00 +0530 https://dailyworld.in/business/indias-trade-performance-in-q3-reflects-resilient-trend-niti-aayog-670475.html New Delhi April 20 Indiaâs trade performance in Q3 FY26 reflected a mixed but resilient trend with merchandise exports rising 16 per cent and imports surging 79 per cent NITI Aayog said on Monday as it released its Trade Watch Quarterly Services exports grew strongly by 78 per cent with relatively moderate growth in services imports resulting in a sustained surplus that continued to anchor the overall external balanceSuman Bery ViceâChairman NITI Aayog released the latest edition of the publication for OctoberâDecember 2025 period hereThe thematic focus of the quarters edition was gems and jewellery a critical pillar of Indiaâs labourâintensive manufacturing ecosystem Excluding raw gold the global market size was estimated at 378 billion in 2024 with Indiaâs exports valued at 295 billion accounting for 78 per cent of world exports the statement saidIndiaâs export strength in the sector remains concentrated in diamonds and precious metal jewellery which together account for over half of global demand around 2073 billionIn these segments India has achieved a strong global presence with exports of 267 billion reflecting its established role as a global processing hub driven by value addition in imported raw materials with Surat emerging as the worldâs largest cutting and polishing hub the statement notedNITI Aayog highlighted structural challenges including limited value addition due to a fragmented MSME base reliance on imported inputs credit gap due to lack of trust from financial institutions skill and design gaps and limited integration into global trading hubsThe think tank called for diversification into emerging segments such as labâgrown diamonds improved access to finance and raw materials investment in technology and skills and stronger policy frameworks to addressing these challengesâIn sectors such as gems and jewellery aligning with evolving global demand strengthening value addition and addressing structural constraints is essential for maintaining competitivenessâ said Suman BeryThe analysis highlighted that Indiaâs trade structure in the sector is characterised by high product and market concentration Exports are largely directed towards a few key markets notably the United States UAE and Hong Kong while imports are concentrated in a limited number of suppliers for raw materials IANS https://dailyworld.in/business/indias-trade-performance-in-q3-reflects-resilient-trend-niti-aayog-670475.html Mon, 20 Apr 2026 21:20:00 +0530 https://dailyworld.in/business/raw-jute-traders-balers-must-sell-entire-stocks-by-may-5-ministry-670477.html New Delhi April 20 The Jute Commissioner has revised raw jute stock limits to zero for traders and balers and directed them to sell their entire holdings to jute mills by May 5 2026 the government said on Monday The move was prompted by a sharp rise in raw jute prices that have remained well above the Minimum Support Price for 2025â26 an official statement saidIt aims to improve availability of raw jute for manufacturers and protect workersâ interests The government revised earlier stock controls and set strict timelines for disposal and delivery after various stakeholders expressed concerns regarding the availability of raw jute the statement from the Ministry of Textiles saidUnder the revised limits raw jute balers with a baling press on premises and registered with the Jute Commissioner must sell their entire stock by May 5 2026 and complete physical delivery by May 15 2026Other stockists including raw jute balers not registered with Jute Commissioner Office and raw jute stockists without baling press face the same nil holding limit Jute mills and processing units are permitted to hold up to the equivalent of 45 daysâ consumption at current production ratesAll stocking entities were ordered to declare and update jute stock positions fortnightly on the Jute SMART portalOfficials have been authorised to inspect premises and records and to seize excess stocks found in contravention of this orderState governments have been asked for assistance in enforcement action against the entities hoarding the raw jutePunitive action in terms of Essential Commodities Act 1955 shall be initiated against any entity which is found to be in violation of the instructions regarding declaring the stock positions or violation of stock limits the ministry saidThe volatility in the prices and nonavailability of raw jute have potential to threaten the jute industry and have potential for disruption in employment in the industry IANS https://dailyworld.in/business/raw-jute-traders-balers-must-sell-entire-stocks-by-may-5-ministry-670477.html Mon, 20 Apr 2026 21:25:00 +0530 https://dailyworld.in/business/cbi-arrests-2-top-rcom-executives-in-rs-19-694-crore-bank-fraud-case-company-responds-670481.html New Delhi April 20 The Central Bureau of Investigation CBI has arrested two senior executives of Anil Ambanicontrolled Reliance Communications RCom D Vishwanath and Anil Kalya in connection with the Rs 19694 crore bank fraud case registered against the company according to an agency statement on Monday The CBI had registered a regular case against Reliance Communications Limited Anil D Ambani and unknown others on the complaint of State Bank of India SBI on the allegations that the bank had sanctioned credit facilities to the accused company but due to the fraudulent activities of the accused borrowers the bank had to suffer wrongful loss of around Rs 292905 croreAs per the complaint filed by the SBI a wrongful loss of Rs 1969433 crore has been caused to 17 public sector banks and financial institutionsInvestigations carried out so far have revealed that RCom Ltd entered into circuitous transactions through shell entities controlled by the companyâs officials and also got discounted letters of credit LCs opened for bogus servicerelated transactions with its group entities which got devolved causing huge losses to the banksRCom Joint President Vishwanath was overall in charge of banking operations of the group and the misutilisation of funds was carried out on his directionsHe was in coordination with banks for the sanction and disbursal of the facilities to the accused companyKalya who was vice president of the company had actively supported Vishwanth and these two were important functionaries of the RCom group managing corporate finance banking operations payments and utilisation of funds at the relevant timeThe two executives will now be produced before the jurisdictional court according to the CBI statementThe investigation in the case is still ongoing the statement saidMeanwhile responding to the development Reliance Group clarified that Reliance Communications is no longer part of the group and that Anil Ambani has not been involved in the companyâs daytoday operations since stepping down as a nonexecutive director in 2019âReliance Communications is no longer part of the Reliance Group as the company has been undergoing CIRP since 2019 under the Insolvency and Bankruptcy Code IBC 2016 and has remained in the resolution process for nearly seven years with proceedings still pending in 2026â the spokesperson saidâAnil D Ambani served as a nonexecutive director on the board of RCOM and stepped down from this position in 2019 nearly seven years ago He was not involved in the daytoday operations of the companyâ the spokesperson added IANS https://dailyworld.in/business/cbi-arrests-2-top-rcom-executives-in-rs-19-694-crore-bank-fraud-case-company-responds-670481.html Mon, 20 Apr 2026 23:01:00 +0530 https://dailyworld.in/business/cbi-arrests-two-top-rcom-executives-in-rs-19-694-crore-bank-fraud-case-670482.html New Delhi April 20 The Central Bureau of Investigation CBI has arrested two senior executives of Anil Ambanicontrolled Reliance Communications RCom D Vishwanath and Anil Kalya in connection with the Rs 19694 crore bank fraud case registered against the company according to an agency statement on Monday The CBI had registered a regular case against Reliance Communications Limited Anil D Ambani and unknown others on the complaint of State Bank of India SBI on the allegations that the bank had sanctioned credit facilities to the accused company but due to the fraudulent activities of the accused borrowers the bank had to suffer wrongful loss of around Rs 292905 crore As per the complaint filed by the SBI a wrongful loss of Rs 1969433 crore has been caused to 17 public sector banks and financial institutionsInvestigations carried out so far have revealed that RCom Ltd entered into circuitous transactions through shell entities controlled by the companyâs officials and also got discounted letters of credit LCs opened for bogus servicerelated transactions with its group entities which got devolved causing huge losses to the banksRCom Joint President Vishwanath was overall in charge of banking operations of the group and the misutilisation of funds was carried out on his directions He was in coordination with banks for the sanction and disbursal of the facilities to the accused company Kalya who was vice president of the company had actively supported Vishwanth and these two were important functionaries of the RCom group managing corporate finance banking operations payments and utilisation of funds at the relevant timeThe two executives will now be produced before the jurisdictional court according to the CBI statementThe investigation in the case is still ongoing the statement saidThe CBI has in the last few months registered 7 cases against the Anil Ambaniled Reliance Group on complaints lodged by various public sector banks and LIC for fraud running into thousands of crores of rupees IANS https://dailyworld.in/business/cbi-arrests-two-top-rcom-executives-in-rs-19-694-crore-bank-fraud-case-670482.html Mon, 20 Apr 2026 23:02:00 +0530 https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-fresh-west-asia-jitters-670336.html Mumbai April 20 Domestic equity benchmarks traded in negative territory early on Monday over fresh USIran conflict in the Strait of Hormuz despite positive cues from global markets and positive earnings from banking firms Sensex traded at 78261 down 029 per cent or 232 points in early trade while Nifty declined as much as 046 per cent or over 100 points to 24241 amid selling pressure in realty metal and energy stocksHindalco Industries TMPV Eternal HDFC Life HDFC Bank BEL Bajaj Finserv and Kotak Mahindra Bank were among the top losers in early tradeThe broader message remains clear momentum is building but conviction continues to depend on global stability Until greater clarity emerges on the geopolitical front markets are likely to remain reactive with opportunities driven more by tactical positioning than by a sustained directional trend said analystsOn the institutional front FIIs were net buyers in the last session purchasing equities worth Rs 683 crore while DIIs were net sellers booking profits worth Rs 4721 croreAccording to equity analysts the market setup for the day suggests a positive to rangebound opening supported by global cues and underlying strength However some profit booking or consolidation at higher levels cannot be ruled out they saidFresh jitters were triggered after Iran again imposed restrictions on shipping through the Strait of Hormuz The country had earlier announced the reopening of HormuzMoreover crude oil prices rose again Brent crude was trading 718 per cent higher at 9687 per barrel while US WTI crude climbed to 9120 up 876 per cent from the previous closeIn global equity markets Asian indices showed positive performance with Japans Nikkei Hong Kongs Hang Seng and South Koreas KOSPI trading up to 1 per cent higher eachIn the previous session Wall Street also ended on a bullish note with the SampP 500 settling 12 per cent higher and the Nasdaq ending 152 per cent up IANS https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-fresh-west-asia-jitters-670336.html Mon, 20 Apr 2026 09:50:00 +0530 https://dailyworld.in/business/mcx-plans-up-to-rs-100-crore-investment-in-coal-exchange-venture-after-sebi-nod-670350.html Mumbai April 20 The Multi Commodity Exchange of India Limited MCX on Monday said it has received approval from market regulator the Securities and Exchange Board of India SEBI to invest in a proposed coal exchange marking its entry into the segment The exchange plans to commit capital of up to Rs 100 crore to meet the minimum net worth requirements as per the draft Coal Exchange Rules The move underscores the commodity exchangeâs push to deepen its presence in the energy space and expand the commodity ecosystemWith established derivatives contracts in crude oil and natural gas along with the launch of electricity futures last year the foray into coal is expected to make its energy portfolio more comprehensiveThe proposed platform aims to create a regulated transparent and technologydriven marketplace for coal trading enabling efficient price discovery in the domestic market MCX saidThe exchange also said that pursuant to SEBIâs approval granted last week it plans to incorporate a wholly owned subsidiary likely to be named âMCX Coal Exchange Ltdâ or âMCX Coal Exchange of India LtdâInitially MCX will hold a 100 per cent stake in the entity with the possibility of bringing in strategic partners at a later stage it addedThe proposed coal exchange will offer a standardised digital platform for the physical delivery of coal at marketdriven pricesThe newly incorporated entity will apply to the Coal Controller Organisation of India for necessary approvals as and when required the exchange saidFollowing the announcement shares of MCX on Monday traded 138 per cent higher at Rs 289510 on the BSE hitting an intraday high The stock touched a 52week high of Rs 290305 and a 52week low of Rs 112020 on the exchange IANS https://dailyworld.in/business/mcx-plans-up-to-rs-100-crore-investment-in-coal-exchange-venture-after-sebi-nod-670350.html Mon, 20 Apr 2026 11:16:00 +0530 https://dailyworld.in/business/rupee-rises-by-10-paise-as-crude-rallies-precious-metals-fall-nearly-2-pc-670352.html Mumbai April 20 The Indian rupee gained 10 paise on Monday opening at 9283 against the US dollar buoyed by a significant decline in crude oil prices optimism around easing geopolitical tensions and supportive measures from the Reserve Bank of India RBI The dollar index which measures the greenback against a basket of six major currencies rose to 9827 up 037 per cent from the previous closeAccording to the currency market experts a sustained move above Rs 93 could extend the upside toward the Rs 935Rs 937 range while Rs 923 acts as immediate support and Rs 92 as a stronger baseThe nearterm structure leans toward appreciation of the rupee with complicating geopolitical tensions analysts saidMeanwhile global crude oil prices surged sharply on Monday moving closer to the 100perbarrel mark as tensions in West Asia intensified once again Brent crude futures the international benchmark climbed as much as 718 per cent during intraday trade to touch a high of 9687 per barrelSimilarly the US West Texas Intermediate WTI crude also posted strong gains rising 876 per cent to 9120 per barrelCrude oil on the Multi Commodity Exchange MCX mirrored the global trend advancing 672 per cent to Rs 8289 per barrelThe broadbased rally across oil benchmarks was triggered by fresh remarks from Iran which said it was tightening its grip over the Strait of Hormuz a critical artery for global energy supplies and warned that the strategic waterway had once again been shut to maritime trafficIn contrast gold and silver opened under pressure on Monday with both precious metals falling by nearly 2 per cent in early tradeOn the Multi Commodity Exchange MCX gold futures June 5 were trading at Rs 152968 per 10 grams at 950 am down 106 per cent or Rs 1641 The yellow metal has touched a low of Rs 152829 and a high of Rs 153251According to commodity market experts MCX gold opened with a slight gapdown but managed to hold above the Rs 152000 level due to increased buying interest at lower levels If it moves above Rs 155000 it could rise towards Rs 157000â158000Meanwhile silver futures May 5 were trading at Rs 252100 per kg down about 2 per cent or Rs 5045 The white metal has touched a low of Rs 252016 and a high of Rs 254089On silver analysts said it opened gapdown and is holding around Rs 252000 Resistance is seen at Rs 255000â260000 and a breakout above this range could push prices to Rs 268000â270000On the downside a break below Rs 248000 may take it to Rs 244000â240000 levels they addedIn the international markets gold and silver remained under pressure COMEX gold was down 134 per cent at 4814 per ounce while COMEX silver fell 225 per cent to 80 per ounce IANS https://dailyworld.in/business/rupee-rises-by-10-paise-as-crude-rallies-precious-metals-fall-nearly-2-pc-670352.html Mon, 20 Apr 2026 11:52:00 +0530 https://dailyworld.in/business/rbi-opens-premature-redemption-window-for-sovereign-gold-bond-2020-21-series-vii-670357.html New Delhi April 20 The Reserve Bank of India has opened a premature redemption window for holders of Sovereign Gold Bond SGB 202021 Series VII with Monday set as the exit date offering investors returns exceeding 200 per cent on their original investment The central bank has fixed the redemption price at Rs 15254 per unit calculated as the simple average of closing prices for 999purity gold over the three preceding business days according to the India Bullion and Jewellers Association IBJAMoreover investors who subscribed at the original issue price of Rs 5051 per unit stand to pocket capital gains of over 200 per cent While those who applied online at issuance and availed a Rs 50 per gram discount have seen effective returns climb to nearly 205 per cent excluding interestSGB holders additionally earn 25 per cent annual interest disbursed semiannually over the holding periodThe tranche which was issued on October 20 2020 became eligible for early redemption after completing five years consistent with RBI guidelines permitting premature exit on interest payment dates post the fifth yearThe bonds carry a full maturity of eight years though investors are not obligated to hold until final redemptionIn addition investors seeking to exit must submit their redemption request at the bank branch SHCIL office or post office where the bonds were originally purchasedProceeds are automatically credited to the registered bank account on the redemption dateInvestors with updated personal details such as bank account mobile number or email are advised to notify their respective bank post office or Stock Holding Corporation of India Limited SHCIL ahead of the deadline to avoid settlement delaysHowever capital gains treatment varies by holding period and investor categoryUnder postBudget 2026 rules gains remain taxexempt only for original subscribers redeeming at full maturityEarly or premature redemptions attract longterm capital gains tax if held beyond 12 months or slabrate taxation for shorter holding periodsBonds acquired via the secondary market carry no capital gains exemption on redemption and interest income remains taxable as per the investors applicable income slab in all casesNotably no fresh SGB issuances have been announced for FY202627 and the government has yet to release a new issuance calendar as of April 2026 leaving the future of the scheme uncertain IANS https://dailyworld.in/business/rbi-opens-premature-redemption-window-for-sovereign-gold-bond-2020-21-series-vii-670357.html Mon, 20 Apr 2026 12:15:00 +0530 https://dailyworld.in/business/crude-oil-prices-near-100-as-iran-tightens-hormuz-control-ceasefire-doubts-rise-670362.html Mumbai April 20 IANS Global crude oil prices rebounded on Monday towards the 100 per barrel mark amid fresh escalations in the West Asia conflictnbspThe international benchmark Brent crude futures rose as much as 718 per cent to hit an intraday high of 9687 per barrel while US West Texas Intermediate WTI crude traded at 9120 up 876 per cent from the previous closeOn the domestic front crude on the Multi Commodity Exchange MCX traded at Rs 8289 an increase of 672 per cent from the previous closeThe surge in oil benchmarks followed Irans statement that it was tightening control over the Strait of Hormuz warning mariners that the vital energy route had been closed againMeanwhile US President Donald Trump said Tehran could not blackmail the United States by shutting the waterwayIran said it was responding to a continued US blockade of its ports calling it a violation of the ceasefire while Supreme Leader Mojtaba Khamenei said the countrys navy was ready to inflict new bitter defeats on its enemiesThe United States said it had seized an Iranian cargo ship that attempted to breach its blockade prompting Tehran to warn of retaliation and raising doubts over whether the ceasefire between the two countries would hold even for the two days it is meant to remain in forceMeanwhile domestic benchmark indices Sensex and Nifty traded in negative territory with heightened volatility with early gains being wiped outAsian markets showed positive performance with Japans Nikkei Hong Kongs Hang Seng and South Koreas KOSPI rising up to 1 per cent eachIn the previous session US markets closed on a positive note with the SampampP 500 ending 12 per cent higher and the Nasdaq gaining 152 per centIANS https://dailyworld.in/business/crude-oil-prices-near-100-as-iran-tightens-hormuz-control-ceasefire-doubts-rise-670362.html Mon, 20 Apr 2026 12:33:00 +0530 https://dailyworld.in/business/bfsi-gccs-in-india-offer-up-to-25-fold-salary-premiums-due-to-ai-data-skills-gap-report-670370.html New Delhi April 20 Indian employees are offered 15times to 25times salary premiums in banking financial services and insurance BFSI GCCs as they are grappling with a 42 per cent skill gap in AI and data roles a report said on Monday Replacement hiring showed a huge surge and it accounted for 40 per cent of all recruitment activity in Indiaâs Global Capability Centre ecosystem the report from workforce solutions firm Quess Corp saidThe rise in replacement hiring was driven by shorter tenure expectations among Gen Z employees to under 24 monthsHiring in Indiaâs Global Capability Centre ecosystem posted a 12â14 per cent quarterâonâquarter growth in Q4 FY26 a sharp rise from the 4â6 per cent growth recorded in the previous quarterFollowing a conservative start to the quarter momentum rebounded strongly toward the fiscal yearendThe trend showed a marked shift from selective optimisation in Q3 to a broader recoveryâled expansion the report notedThe changes in recruitment cycles and employee retainment are forcing GCCs to balance aggressive expansion with the need for organizational continuity it addedâAs GCCs evolve into strategic global hubs the focus must shift toward balancing rapid scale with longterm capability building to ensure sustained growthâ said Kapil Joshi CEO of IT StaffingWhile demand remains anchored in AIdriven capabilities platform engineering and infrastructure modernisation persistent talent shortages continue to impact the pace of scalingAI and Data domain showed the highest talent gap with 38â42 per cent skills shortage Platform engineering and cloud infrastructure also showed shortages of 32â36 per cent and 28â32 per cent respectivelyThe bottleneck is not a lack of open positions but a scarcity of specialized expertise in areas like AIML Ops necessitating internal upskilling initiatives the report notedThe expansion in GCC hiring was supported by an increased active GCC footprint signalling renewed enterprise confidenceHiring however remained concentrated in Tierâ1 cities accounting for 88â90 per cent of GCC recruitment led by Bengaluru and HyderabadWhile Tier2 cities grew their share to 10â12 per cent nearly half of all complex technical mandates remain in Tier1 hubs This reinforces a hubandspoke model where Tier1 locations drive innovation while Tier2 cities focus on execution and operational scale the report said IANS https://dailyworld.in/business/bfsi-gccs-in-india-offer-up-to-25-fold-salary-premiums-due-to-ai-data-skills-gap-report-670370.html Mon, 20 Apr 2026 13:03:00 +0530 https://dailyworld.in/business/indias-retail-deal-volumes-rise-21-pc-in-q1-value-at-15-bn-report-670381.html New Delhi April 20 The domestic retail industry witnessed 146 deals worth 15 billion in the first quarter of 2026 including one public market transaction indicating a recovery in volumes alongside a sharp moderation in values a report said on Monday In volume terms deals rose 21 per cent to 146 from 120 while values declined about 55 per cent to 15 billion from 34 billion reflecting a shift towards smaller transactions in the absence of largeticket deals according to an analysis by Grant Thornton BharatDuring the quarter momentum was supported by increased outbound activity even as investors remained focussed on disciplined dealmaking it saidThe report further highlighted that the top five Mergers and Acquisitions MampA and Private Equity PE deals accounted for 57 per cent of total deal valueCategorywise personal care and food processing continued to attract strong interest driven by evolving consumer preferences around health convenience and premium offerings alongside ongoing portfolio sharpening by both domestic and global playersOn the MampA front activity strengthened in volume terms during the period with 40 deals worth 358 million up 18 per cent from 34 deals in Q4 2025 while values declined 33 per cent from 532 millionDomestic consolidation remained a key driver with food processing personal care and FMCG leading MampA volumes at 13 10 and 8 deals respectivelyIn value terms personal care led with 155 million underscoring investor interest in premium and healthoriented categoriesIn addition the PE segment remained resilient with 105 deals worth 11 billion marking a 22 per cent rise in volumesFMCG led PE investments in value terms at 347 million followed by food processing with 8 deals worth 257 millionAccording to the analysis the quarter saw steady deal flow with investors shifting towards midsized growthstage investments and smaller ticket sizesEcommerce and emerging consumer brands continued to attract funding particularly in digitalfirst and healthfocussed segmentsNaveen Malpani Partner and Consumer Industry Leader at Grant Thornton Bharat said the first quarter of 2026 reflects a phase of measured recovery in Indiaâs consumer and retail sector with deal volumes rebounding even as capital deployment remains selectiveâWe are seeing a clear shift towards profitabilityled growth premiumisation and brandled strategies with investors focussing on resilient segments with pricing powerâ he addedHowever activity across discretionary segments remained selective as textiles and apparel saw steady volumes but lower values while retail tech and consumer services remained subduedâPE continued to anchor overall activity contributing the majority of volumes and value with sustained interest in scalable profitabilityled businessesâ the report said IANS https://dailyworld.in/business/indias-retail-deal-volumes-rise-21-pc-in-q1-value-at-15-bn-report-670381.html Mon, 20 Apr 2026 14:07:00 +0530 https://dailyworld.in/business/ai-firms-invest-4-times-more-in-core-capabilities-leaders-see-39-pc-returns-report-670392.html New Delhi April 20 Technology companies with successful artificial intelligence AI initiatives invest up to four times more in core capabilities such as data quality governance AIready talent and change management even as only 39 per cent of technology leaders are confident of seeing positive financial returns from their AI investments a report said on Monday According to a report by Gartner higher investments in foundational areas play a critical role in driving AI success across enterprisesThe report has outlined six key shifts needed to realise AI value including building AIfirst data and analytics capabilities redesigning teams for human and AI collaboration and strengthening context and data infrastructure to support AI systemsIt also highlighted the need for integrated engineering practices trustbased governance models and a move beyond traditional return on investment ROI metrics towards longterm value creationâOrganisations with advanced AIready data and analytics capabilities are achieving up to 65 per cent higher business outcomes including revenue growth and cost optimisationâ Gartner saidâDampA leaders play a central role in achieving their organisationâs AI value ambitionâ said Rita Sallam Distinguished VP Analyst Gartner Fellow and Chief of Research at GartnerSallam noted that through 2030 the mandate for DampA leaders will be to build strong foundational capabilities including trusted data and contextdriven intelligence requiring shifts in how teams operate scale and create valueHowever challenges remain Only 23 per cent of IT leaders are highly confident in their organisationâs ability to manage security and governance while deploying generative AI toolsâWithout trust in the data outputs and decisions of AI models there is no value from AIâ Sallam saidEarlier another report flagged that tech firms accelerated job cuts in the first quarter of 2026 with over 73200 layoffs by 95 companiesIt pointed out that within two weeks Snap Inc The Walt Disney Company Meta Platforms and Oracle Corporation announced layoffs as firms streamline operations to cut costs and shift resources toward artificial intelligence IANS https://dailyworld.in/business/ai-firms-invest-4-times-more-in-core-capabilities-leaders-see-39-pc-returns-report-670392.html Mon, 20 Apr 2026 14:45:00 +0530 https://dailyworld.in/business/nearly-10-000-rehabilitated-under-smile-beggary-sub-scheme-21-garima-grehs-operational-govt-670393.html New Delhi April 20 As many as 31055 individuals have been identified and 9935 rehabilitated under the beggary subâscheme of the SMILE programme the government said on Monday As many as 21 Garima Grehs are operational across 17 states with three more sanctioned in August 2025 according to an official statementGarima Greh shelter homes provide safe dignified accommodation to transgender persons who face homelessness as a result of family rejection or social stigmaEach home offers food medical care recreational facilities and onsite skillbuilding support and is run by Community Based Organisations CBOs with financial assistance from the Department of Social Justice and Empowerment DoSJESMILE Support for Marginalized Individuals for Livelihood and Enterprise launched in 2022 is Indiaâs first unified national framework to identify rescue and rehabilitate marginalised people and to provide healthcare education counselling skill development and longâterm economic independenceThe government said that health coverage worth Rs 5 lakh per year is provided to every transgender person under Ayushman Bharat TG Plus covering genderâaffirming care hormone therapy and sex reassignment surgery at empanelled hospitalsFor 2021â2026 Rs 390 crore was allotted by the government for the SMILE schemeâSMILE represents a decisive shift in how India approaches the welfare of its most marginalised citizens â not through isolated schemes targeting single problems but through a converged architecture that addresses identity health education livelihood and shelter in one coherent frameworkâ the statement saidThe SMILE scheme also offers scholarships for transgender students from Class IX through postâgraduationThe SMILE subscheme for Comprehensive Rehabilitation of Persons Engaged in the Act of Begging is aimed at achieving the Governmentâs objective of Bhiksha Vritti Mukt Bharat BeggingFree India through comprehensive rehabilitation measuresOn a pilot basis 18 Entrepreneurship Development Programmes have been launched nationwide to train 1800 transgender persons in business planning market assessment regulatory compliance financial access and linkages to incubation centers or banks the statement noted IANS https://dailyworld.in/business/nearly-10-000-rehabilitated-under-smile-beggary-sub-scheme-21-garima-grehs-operational-govt-670393.html Mon, 20 Apr 2026 14:46:00 +0530 https://dailyworld.in/business/ipo-activity-robust-in-fy26-with-rs-2-lakh-crore-raised-markets-nearing-correction-trough-report-670426.html Mumbai April 20 Indiaâs primary market remained strong in FY26 with 153 IPOs collectively raising Rs 201442 crore even as broader equity markets underwent a correction a new report said on Monday In its outlook for FY27 HDFC Securities highlighted that robust IPO activity reflects sustained investor appetite and confidence in Indiaâs growth story despite global uncertainties and market volatilityThe report noted that Indiaâs macroeconomic fundamentals remain resilient with real GDP growth projected at around 65 per cent for FY26âFY27 and nominal GDP expected to expand by 10â11 per centGovernmentled infrastructure spending continues to play a key role with capital expenditure likely to account for nearly onethird of total expenditure in FY27Inflation is expected to remain under control at around 45 per cent alongside a targeted fiscal deficit of 43 per cent the report saidAt the same time external pressures persist The Indian rupee remains under strain due to relatively weak foreign direct investment inflows and continued foreign portfolio investor outflows coupled with a widening trade deficitThese factors have contributed to an ongoing depreciation trend that began in 2022On the earnings front the report expects overall corporate earnings to grow by around 10 per cent although performance is likely to vary across sectorsBanks consumer discretionary metals and telecom are expected to see gradual improvement while the energy sector may face some pressureValuations have corrected in recent months particularly in midcap and smallcap segments though they still remain above longterm averagesMeanwhile benchmark indices have moved closer to historically attractive levels as per the reportRetail participation continues to be a key pillar of the market The number of demat accounts has surged to over 222 million while active equity traders crossed 148 crore in February 2026Systematic Investment Plan inflows into mutual funds have remained robust exceeding Rs 30000 crore annually the report noted IANS https://dailyworld.in/business/ipo-activity-robust-in-fy26-with-rs-2-lakh-crore-raised-markets-nearing-correction-trough-report-670426.html Mon, 20 Apr 2026 16:23:00 +0530 https://dailyworld.in/business/ipo-activity-robust-in-fy26-with-rs-2-lakh-crore-raised-markets-nearing-correction-trough-report-670427.html Mumbai April 20 Indiaâs primary market remained strong in FY26 with 153 IPOs collectively raising Rs 201442 crore even as broader equity markets underwent a correction a new report said on Monday In its outlook for FY27 HDFC Securities highlighted that robust IPO activity reflects sustained investor appetite and confidence in Indiaâs growth story despite global uncertainties and market volatilityThe report noted that Indiaâs macroeconomic fundamentals remain resilient with real GDP growth projected at around 65 per cent for FY26âFY27 and nominal GDP expected to expand by 10â11 per centGovernmentled infrastructure spending continues to play a key role with capital expenditure likely to account for nearly onethird of total expenditure in FY27Inflation is expected to remain under control at around 45 per cent alongside a targeted fiscal deficit of 43 per cent the report saidAt the same time external pressures persist The Indian rupee remains under strain due to relatively weak foreign direct investment inflows and continued foreign portfolio investor outflows coupled with a widening trade deficitThese factors have contributed to an ongoing depreciation trend that began in 2022On the earnings front the report expects overall corporate earnings to grow by around 10 per cent although performance is likely to vary across sectorsBanks consumer discretionary metals and telecom are expected to see gradual improvement while the energy sector may face some pressureValuations have corrected in recent months particularly in midcap and smallcap segments though they still remain above longterm averagesMeanwhile benchmark indices have moved closer to historically attractive levels as per the reportRetail participation continues to be a key pillar of the market The number of demat accounts has surged to over 222 million while active equity traders crossed 148 crore in February 2026Systematic Investment Plan inflows into mutual funds have remained robust exceeding Rs 30000 crore annually the report noted IANS https://dailyworld.in/business/ipo-activity-robust-in-fy26-with-rs-2-lakh-crore-raised-markets-nearing-correction-trough-report-670427.html Mon, 20 Apr 2026 16:24:00 +0530 https://dailyworld.in/business/states-to-continue-focusing-on-capex-growth-despite-tightening-fiscal-headroom-report-670435.html New Delhi April 20 Indian states will continue to prioritise public investment with a slight moderation in capitalâexpenditure growth to around 8â10 per cent in FY27 a report said on Monday This would translate into a capex of about 23 per centâ24 per cent of Gross State Domestic Product GSDP supported by interestfree loans from the Centre the report from CareEdge Ratings saidThe report cited rising revenueâexpenditure commitments and moderation in revenue growth leading to a tighter fiscal headroom and ease in capex growthThe ratings agency expected the revenue expenditure to remain high as states absorb higher social spending and face potential external pressures from higher energy and commodity costsRevenue receipts of states are projected to grow 62 per cent in FY26 and 79 per cent in FY27 trailing nominal GSDP due to moderation in grants and some sensitivity to external factors that may weigh on overall revenue realisationsFurther the pace of growth in central transfers is expected to ease constrained by fiscal pressures at the Centre arising from elevated subsidy requirements amid geopolitical developments in West AsiaWhile capex will remain a priority its growth may moderate amid tightening fiscal headroom leading to a modest uptick in fiscal deficits and debt the report saidAs a result the revenue deficit is projected to widen from 08 per cent of GSDP in FY25 to around 12 per cent by FY27 Maintaining fiscal discipline will therefore remain critical as states balance welfare commitments with the need to sustain capital investmentâ said Prasanna Krishnan Associate Director CareEdge RatingsThe report noted that Uttar Pradesh Madhya Pradesh Gujarat Maharashtra and Telangana have continued to prioritise capital expenditure despite moderate revenue growth reflecting a sustained focus on infrastructure creationMeaningful traction in monetization of state infra projects and bolstering of investor confidence for Public Private Partnership PPP projects in states are critical for funding higher capital outlayâ said Maulesh Desai Director CareEdge Ratings IANS https://dailyworld.in/business/states-to-continue-focusing-on-capex-growth-despite-tightening-fiscal-headroom-report-670435.html Mon, 20 Apr 2026 17:20:00 +0530 https://dailyworld.in/business/nifty-sensex-end-flat-as-us-iran-tensions-weigh-670436.html Mumbai April 20 Indian equity markets ended Tuesdayâs session on a flat note with benchmark indices giving up most of their intraday gains amid rising geopolitical concerns in West Asia that dampened investor sentiment The Nifty closed marginally higher by 1130 points or 005 per cent at 2436485 while the Sensex inched up 27 points or 003 per cent to settle at 7852030Commenting on Nifty technical outlook experts said that going forward the 24400â24500 zone remains a critical resistance bandâA decisive breakout above this range is required to extend the rally toward 24850 and eventually the 25000 psychological mark where significant supply is expectedâ an analyst addedâOn the downside 24200 acts as immediate support aligned with the 50day moving average Below this the 24100â24000 zone remains a crucial demand area supported by strong positioning data and previous price structureâ a market expert notedBoth indices had traded in positive territory for most of the session but lost momentum toward the close as uncertainty surrounding the USIran situation weighed on risk appetiteMarket volatility spiked sharply with the India VIX surging 105 per cent to 1901Among index constituents Jio Financial Services Hindalco Industries and Tata Motors emerged as the top laggards dragging the benchmarks lowerOn the sectoral front PSU banking and media stocks showed resilience and outperformed the broader market while IT and realty counters witnessed notable selling pressureThe subdued close comes against the backdrop of renewed tensions in West Asia after the United States Navy seized an Iranianflagged cargo vessel in the Gulf of OmanThe development followed reports of Iran firing at commercial vessels passing through the Strait of Hormuz a critical global oil transit routeThese incidents have cast fresh doubts over the prospects of upcoming diplomatic talks between the United States and Iran raising concerns about potential disruptions in global oil supply and adding to market uncertaintyAnalysts noted that while domestic fundamentals remain supportive global geopolitical developments continue to influence shortterm market direction keeping investors on edgeâRenewed geopolitical tensions particularly around the USâIran conflict intensified concerns after reports of disruptions impacting energy infrastructureâ an analyst stated IANS https://dailyworld.in/business/nifty-sensex-end-flat-as-us-iran-tensions-weigh-670436.html Mon, 20 Apr 2026 17:21:00 +0530 https://dailyworld.in/business/japans-new-delhi-desk-signals-recognition-of-indias-strategic-role-in-indo-pacific-report-670441.html New Delhi April 20 Japans move to open a dedicated office in India to help Japanese firms navigate regulatory hurdles and boost investment signals Tokyoâs longâterm bet on Indias economic and strategic role in the IndoâPacific according to a new report The India Narrative report said the office will deepen ties beyond manufacturing linking Japanâs large corporations with Indiaâs startâup ecosystem artificial intelligence sector critical minerals and cleanâenergy chainsThe proposed centre will act as an information clearinghouse policy advocate and coordination platform administered by Japanâs Ministry of Foreign AffairsIt will collect feedback from Japanese companies on issues such as inconsistent stateâlevel rules opaque legal processes and complex tax and approval structures and then channel these concerns directly to relevant Indian agencies the report detailedTokyoâs focus on highâgrowth strategic sectors such as artificial intelligence and critical minerals reflects a shift from seeking lowâcost manufacturing to anchoring longâterm technological and supplyâchain partnerships in IndiaThe report highlighted a renewed Japanese interest in Indian partnership for over a decade which has not been fully translated into scaleJapanese companies wanted Indian partnerships to diversify away from Chinaâcentric supply chains but the number of Japanese firms in India has hovered around a modest figure with little change in recent years the report notedThe stagnation stemmed from transaction costs such as varying stateâwise regulations unclear implementation of central laws and administrative bottlenecks that made longâterm fixedâcapital planning difficultJapan remaining a key foreign investor in India gives the new office a builtin credibility the media house said adding Tokyo sees India as indispensable but only if the policy environment becomes more predictable and less opaqueTokyo framed India as a critical node in its evolving IndoâPacific supplyâchain strategy linking it with semiconductorârelated collaborations and cleanâenergy partnerships and the dedicated foreign office signalled India as a highâpotential albeit a highâcomplexity frontier economy IANS https://dailyworld.in/business/japans-new-delhi-desk-signals-recognition-of-indias-strategic-role-in-indo-pacific-report-670441.html Mon, 20 Apr 2026 17:25:00 +0530 https://dailyworld.in/business/indias-health-coverage-expands-rapidly-insurance-reaches-nearly-half-the-population-govt-670443.html New Delhi April 20 A government survey showed on Monday that a substantial improvement has been seen in health insurance coverage across India between 2017â18 about 14 per cent in rural and about 19 per cent in urban and 2025 about 47 per cent in rural and about 44 per cent in urban The Ministry of Statistics and Programme Implementation MoSPI released the findings of the survey on health titled âHousehold Social Consumption Healthâ The survey was conducted during JanuaryâDecember 2025According to the findings the estimated average outofpocket medical expenditure per hospitalisation case excluding childbirth during the last 365 days was about Rs 34064 Rs 31484 in rural and Rs 38688 in urban while the median outofpocket medical expenditure was about Rs 11285 Rs 10500 in rural and Rs 12400 in urbanâIn public hospitals the average expenditure per hospitalization case excluding childbirth at allIndia level was Rs 6631 while half of the hospitalized cases treated in public hospitals involved spending of Rs 1100 or lessâ the survey showedFor outpatient care during the last 15 days the average outofpocket medical expenditure in India was about Rs 861 Rural Rs 847 Urban Rs 884 while the median expenditure was about Rs 400 Rural Rs 395 Urban Rs 420In public hospitals the average expenditure per spell for outpatient care during the last 15 days was about Rs 289 and the median was about Rs 0 indicating that half of the treatment episodes in public hospitals were received free of cost according to the surveyâThe average outofpocket medical expenditure per childbirth during the last 365 days was about Rs 2299 in public hospitals while the average expenditure in all hospitals combined was about Rs 14775 Median expenditure for childbirth in public hospitals Rs 801 was less than onethird of the median expenditure in all hospitals Rs 2851The survey further showed that about 131 per cent persons reported illness responded as ailing during the last 15 days preceding the date of survey where persons in urban areas 149 per cent reported illness slightly more than the persons in rural areas 122 per centThe highest proportion of individuals reporting illness was observed in the agegroup 60 years and above 439 per cent followed by those aged 45â59 years 225 per cent and children aged 0â4 years 99 per centInfections and respiratory ailments were most frequently reported during childhood and adolescence while psychiatricneurological and gastrointestinal conditions peaked in young adulthood said the reportNoncommunicable diseases NCDs such as cardiovascular hypertension and endocrinemetabolic diabetes were most frequently reported after the age of 30 years it added IANS https://dailyworld.in/business/indias-health-coverage-expands-rapidly-insurance-reaches-nearly-half-the-population-govt-670443.html Mon, 20 Apr 2026 18:20:00 +0530 https://dailyworld.in/business/samsung-chief-clicks-selfie-with-pm-modi-s-korean-president-at-noida-facility-670444.html New Delhi April 20 Lee Jaeyong Executive Chairman of Samsung Electronics on Monday took a selfie with Prime Minister Narendra Modi and South Korean President Lee Jae Myung during a state luncheon at the companyâs Noida facility The gesture highlighted Samsungâs local manufacturing capabilities in India and came after the bilateral summit between the two leadersLee and Modi also interacted with business leaders from both countries according to a statement from the South Korean presidential office Ahead of the luncheon the leaders posed for a group photograph with industry representatives with the gathering serving as a platform for continued economic dialogueSamsung has been manufacturing mobile phones at its Noida plant since 1996 producing a range of devices from budget models to flagship smartphones including foldablesPresident Lee is on a state visit to India and Vietnam accompanied by a large business delegationLee Jaeyong was set to attend the KoreaIndia Business Forum which witnessed a participation of 250 Korean businesspeople including the heads of Koreas top four conglomerates with Hyundai Motor Group Executive Chair Euisun Chung SK Group Chairman Chey Taewon and LG Chairman Koo KwangmoMeanwhile during his visit to India the South Korean President paid tribute at a memorial dedicated to Mahatma Gandhi honouring one of Indiaâs most influential figures and pledging to carry forward his legacy by promoting global peaceHe also visited Raj Ghat before holding summit talks with Prime Minister Modi on the second day of his threeday state visitâHoping Mahatma Gandhiâs peaceful spirit fills the world with peace I will make joint effortsâ Lee saidEarlier in the day in a post on X Lee expressed hope for developing mutually beneficial relations with IndiaâIf you look carefully there are many things that serve the interests of both countriesâ he said adding that the two nations should work together to build a bright future rooted in peace and democracy IANS https://dailyworld.in/business/samsung-chief-clicks-selfie-with-pm-modi-s-korean-president-at-noida-facility-670444.html Mon, 20 Apr 2026 18:22:00 +0530 https://dailyworld.in/business/silence-is-not-virtue-shark-tank-india-judge-namita-thapar-slams-trolls-over-namaz-remark-670447.html New Delhi April 20 Namita Thapar judge on Shark Tank India and Executive Director of Emcure Pharmaceuticals on Monday hit back at trolls after facing online backlash over her remarks on the health benefits of namaz posted on Instagram in March Thapar said she and her mother were subjected to abusive comments following her social media post prompting her to respond strongly and call out what she termed selective outrageQuestioning the criticism she pointed out that her earlier comments on the benefits of Surya Namaskar did not attract similar reactionsIn a video message Thapar who described herself as a healthcare professional and a proud Hindu emphasised that religion should stand for respect especially towards women and said people must speak up against disrespectShe also told trolls to continue at your own discretion adding that actions have consequencesâI have been taught that âR for Religionâ means âR for Respectâ Is this what respect looks like especially towards women When women are disrespected why the silenceâ she said adding that people must speak up for themselvesShe also told trolls to âcontinueâ but cautioned that actions have consequences referring to the concept of karmaIn a post on X she said she made the video early in the morning before work as she believes silence is not a virtue and people should speak up when they witness actions that go against basic human rightsShe added that while she is used to trolling over the past few years the purpose of her message was to urge people to raise their voice against wrongdoing out of humanity and patriotismShares of Emcure Pharmaceuticals declined as much as 312 per cent on Monday to hit an intraday low of Rs 1618 However it recovered later and closed at Rs 1628 down by Rs 4410 or 264 per cent The stock has a 52week high of Rs 1688 and a 52week low of Rs 950 on the exchange16280 IANS https://dailyworld.in/business/silence-is-not-virtue-shark-tank-india-judge-namita-thapar-slams-trolls-over-namaz-remark-670447.html Mon, 20 Apr 2026 18:24:00 +0530 https://dailyworld.in/business/posco-jsw-steel-sign-73-billion-deal-to-build-steel-plant-in-india-670448.html Seoul April 20 South Koreas POSCO Group said on Monday it has signed a final agreement with Indias JSW Steel to jointly invest 107 trillion won 73 billion to build a steel plant in India as part of its strategy to establish a production hub in the South Asian country and strengthen its global supply chain The two companies signed a joint venture agreement in India attended by POSCO Group Chairman Chang Inhwa and JSW Steel Chief Executive Officer CEO Jayant Acharya according to POSCO Group reports Yonhap news agencyUnder the agreement POSCO and JSW Steel will each hold a 50 percent stake in the project to build an integrated steel mill encompassing the entire production process at a single sitePOSCO will invest about 53 trillion won in the projectThe plant with an annual capacity of 6 million tons will be built in Odisha eastern India with completion targeted for 2031POSCO and JSW Steel previously signed a memorandum of understanding in 2024 and a nonbinding heads of agreement last year for the projectThrough this joint investment we will combine POSCOs innovative steel technology with JSW Groups strong local competitiveness POSCO CEO Lee Heegeun said We will also strive to create future value and contribute to the industrial development and economic growth of both countriesEarlier South Korean President Lee Jae Myung said he and Prime Minister Narendra Modi agreed to cooperate on stabilising energy supply chains to better navigate uncertainties stemming from the war in the Middle EastOutlining the outcomes of his summit with Modi in New Delhi Lee said he and the Indian prime minister focused on expanding trade and investment and exploring new opportunities in critical minerals energy artificial intelligence AI finance and shipbuilding among other sectorsIn light of recent developments in the Middle East we will continue to strengthen bilateral cooperation to ensure a stable supply of energy resources and key raw materials including naphtha Lee said during a joint press announcement IANS https://dailyworld.in/business/posco-jsw-steel-sign-73-billion-deal-to-build-steel-plant-in-india-670448.html Mon, 20 Apr 2026 18:28:00 +0530 https://dailyworld.in/business/eight-core-industries-record-04-per-cent-dip-in-production-in-march--670455.html New Delhi April 20 The combined index of Indias eight core infrastructure industries declined 04 per cent in March this year compared to the same month of the previous year according to data released by the Commerce and Industry Ministry on Monday While the production of natural gas steel and cement went up during the month the output of fertilisers crude oil coal and electricity recorded a negative growth according to a ministry statementThe final growth rate of the eight core industries for February was observed at 28 per cent The cumulative growth rate of the combined index during April to March 202526 now works out to 26 per cent compared to the same period of last yearSteel production recorded a 22 per cent increase in March over the same month of the previous year while the cement sector clocked a 4 per cent growth during the month as demand for these products was maintained due to large government investments in bigticket infrastructure projectsThe production of natural gas increased by 64 per cent during March as the output was stepped up following the disruption in gas supplies from the Middle East due to the Iran war The government has also been encouraging consumers to switch to natural gas from LPG as supplies have been hit due to the closure of the Strait of HormuzThe production of petroleum products also increased marginally by 0 1 per cent during March as the government maintained supplies of petrol diesel and jet fuel at the normal levelCoal production decreased by 4 per cent in March over the same month of the previous year while electricity generation declined by 05 per centCrude oil fell by 57 per cent during the month while fertiliser production declined by 246 per cent in March compared to the same month of the previous yearThe Index of Eight Core Industries ICI measures the combined and individual performance of production of eight core industriescoal crude oil natural gas refinery products fertilisers steel cement and electricity The eight core industries comprise 4027 per cent of the weight of items included in the Index of Industrial Production IIP and are a good indicator of the overall industrial growth in the economy IANS https://dailyworld.in/business/eight-core-industries-record-04-per-cent-dip-in-production-in-march--670455.html Mon, 20 Apr 2026 19:43:00 +0530 https://dailyworld.in/business/cbi-arrests-two-top-rcom-executives-in-rs-19-694-crore-bank-fraud-cause-670456.html New Delhi April 20 The Central Bureau of Investigation CBI has arrested two senior executives of Anil Ambanicontrolled Reliance Communications RCom D Vishwanath and Anil Kalya in connection with the Rs 19694 crore bank fraud case registered against the company according to an agency statement on Monday The CBI had registered a regular case against Reliance Communications Limited Anil D Ambani and unknown others on the complaint of State Bank of India SBI on the allegations that the bank had sanctioned credit facilities to the accused company but due to the fraudulent activities of the accused borrowers the bank had to suffer wrongful loss of around Rs 292905 crore As per the complaint filed by the SBI a wrongful loss of Rs 1969433 crore has been caused to 17 public sector banks and financial institutionsInvestigations carried out so far have revealed that RCom Ltd entered into circuitous transactions through shell entities controlled by the companyâs officials and also got discounted letters of credit LCs opened for bogus servicerelated transactions with its group entities which got devolved causing huge losses to the banksRCom Joint President Vishwanath was overall in charge of banking operations of the group and the misutilisation of funds was carried out on his directions He was in coordination with banks for the sanction and disbursal of the facilities to the accused company Kalya who was vice president of the company had actively supported Vishwanth and these two were important functionaries of the RCom group managing corporate finance banking operations payments and utilisation of funds at the relevant timeThe two executives will now be produced before the jurisdictional court according to the CBI statementThe investigation in the case is still ongoing the statement saidThe CBI has in the last few months registered 7 cases against the Anil Ambaniled Reliance Group on complaints lodged by various public sector banks and LIC for fraud running into thousands of crores of rupees IANS https://dailyworld.in/business/cbi-arrests-two-top-rcom-executives-in-rs-19-694-crore-bank-fraud-cause-670456.html Mon, 20 Apr 2026 19:46:00 +0530 https://dailyworld.in/business/sebi-slashes-minimum-investment-in-social-impact-funds-to-rs-1-000-670462.html Mumbai April 20 IANS The Securities and Exchange Board of India SEBI has drastically slashed the minimum investment requirement for individual investors in social impact funds to Rs 1000 in order to lower the barrier for entry from the Rs 2 lakh level that was in place until now with the aim of increasing retail participation on the Social Stock Exchange SSEnbspThe reduced threshold of Rs 1000 allows small investors to participate in SIFs which are Alternative Investment Funds AIFs focusing on social or environmental impactsThe SEBI amended AIF regulations to enable this change This would align the minimum application size requirement for subscribing to zerocoupon zero principal instruments under its ICDR Issue of Capital and Disclosure Requirements Regulations 2018 with the minimum investment value requirement for individual investors in the Social Impact FundThe move intends to increase capital flow for NotforProfit Organisations NPOs and social enterprises listed on the NSE and BSE Social Stock ExchangeThe SEBI has amended AIF regulations to enable this change lowering the barrier for entry from the previous mandatory Rs 2 lakh minimumBy slashing the requirement the capital markets regulator aims to make impact investing a democratised space similar to retail equity investing enabling broader participation in funding social causes This initiative is part of broader SEBI efforts to strengthen the SSE ecosystem which also includes easing registration norms for NPOsThe SEBI also said AIFs which do not retain any funds after the expiry of their fund life may be permitted to seek an inoperative status subject to compliance with prescribed normsAn Alternative Investment Fund may be tagged as an inoperative fund in such manner and subject to conditions as may be specified by the Board from time to time according to a SEBI statementThe move is premised on the principle that while entry into the securities market is subject to specified eligibility criteria the regulatory framework for exit where an entity seeks to discontinue its activities should be clear predictable and operationally efficientEarlier the SEBI extended the registration validity for notforprofit organisations on the Social Stock Exchange allowing their enrolment as NPOs for three years without raising funds and lowered the minimum subscription requirement for issuing zerocoupon zeroprincipal instrumentsThe regulator extended the validity period to three years from the existing two during which NPOs can remain registered on the SSE without raising fundsThe SEBI also lowered the minimum subscription requirement for zerocoupon zeroprincipal instruments to 50 per cent from 75 per cent to enhance fundraising flexibility for NPOsThis relaxation would apply only to projects where costs and outcomes can be implemented on a clearly identifiable perunit basis ensuring that partial subscription does not adversely affect project execution the SEBI saidIANSnbsp https://dailyworld.in/business/sebi-slashes-minimum-investment-in-social-impact-funds-to-rs-1-000-670462.html Mon, 20 Apr 2026 20:05:00 +0530 https://dailyworld.in/business/online-lpg-cylinder-bookings-increased-to-99-pc-amid-geo-political-crisis-govt-670463.html New Delhi April 20 IANS LPG supply continues to be affected by the prevailing geopolitical situation the government said on Monday adding that supply of LPG to domestic households has been prioritised as online LPG cylinder bookings increased to 99 per cent on industry basisnbspDelivery authentication code DAC based deliveries have increased to around 92 per cent to prevent diversion DAC is received on the registered mobile number of the consumerMany of the LPG distributorships were operating on Sunday to ensure delivery of domestic LPG cylinders to households said Petroleum MinistryTotal commercial LPG allocation has also been increased to about 70 per cent of precrisis levels including 10 per cent reformlinked allocationSince March 23 2026 more than 1845 lakh 5kg free trade LPG cylinders have been soldA threemember committee of Executive Directors from IOCL HPCL and BPCL is coordinating with State authorities and industry bodies to plan commercial LPG distribution in the StatesUTs During the last 5 days on an average more than 7000 MTday of commercial LPG has been sold informed the ministryAuto LPG sales were observed to have shifted from private to PSU OMCs To meet the rising demand the sale of auto LPG by the PSU OMCs has been increased The major increase has been observed in the States like Karnataka Tamil Nadu Telangana Rajasthan and West Bengal etcMoreover since March 2026 more than 493 lakh PNG connections have been gasifiedFurther more than 551 lakh customers have been registered for new connections Till April 19 about 39200 PNG consumers have surrendered their LPG connections via MYPNGDin websiteAll refineries are operating at high capacity with adequate crude inventories while sufficient stocks of petrol and diesel are being maintained Domestic LPG production from refineries has been increased to support domestic consumption according to the official statementIANS https://dailyworld.in/business/online-lpg-cylinder-bookings-increased-to-99-pc-amid-geo-political-crisis-govt-670463.html Mon, 20 Apr 2026 20:09:00 +0530 https://dailyworld.in/business/indias-banks-remain-resilient-supported-by-asset-quality-credit-momentum-report-670215.html New Delhi April 19 Indiaâs banking sector remained resilient supported by improved asset quality strengthening capital buffers robust retail and SME credit momentum and early signs of revival in private capital expenditure a survey showed on Sunday The survey from FICCI and Indian Bank Association IBA said the banking sector maintains a broadly constructive outlook on credit growth over the near term supported by improving balance sheets steady economic activity and sustained demand across multiple segments of the economyRespondents expect current monetary policy to remain broadly stable in the coming months suggesting that the existing policy framework remains appropriately calibrated to balance growth and inflation considerationsOnly cooperative banks stood with all respondents expecting a 25basis point rate increaseExpectations regarding overall credit expansion remain positive with banks anticipating continued momentum in nonfood credit the report saidPublic Sector Banks PSB appear particularly confident in the outlook reflecting improved asset quality stronger capital positions and increasing traction in corporate lendingPrivate banks demonstrated a balanced and selective approach to credit growth while foreign banks displayed moderate optimism consistent with their focused exposure to corporate and institutional segments the report notedSectorally credit demand from services and retail segments is expected to remain a key driver of overall lending growth The services sector outlook reflected strong expectations of expansion supported by activity in real estate financial services logistics and tourismrelated industriesAround 46 per cent of participants expect overall nonfood credit growth in the 11 per cent13 per cent range making it the dominant viewRetail lending is also projected to remain robust reinforcing its role as a central pillar of banking sector growthSME credit demand is expected to remain particularly strong with respondents expressing high confidence in continued expansion in this segment This reflects improving business activity among smaller enterprises increased formalisation of credit channels and continued policy emphasis on supporting MSME growth the report notedBanks reported cybersecurity risk as the most pressing challenge confronting them As many as 24 banks comprising public sector banks private sector banks foreign banks small finance banks and cooperative banks participated in the survey conducted between January and February 2026 IANS https://dailyworld.in/business/indias-banks-remain-resilient-supported-by-asset-quality-credit-momentum-report-670215.html Sun, 19 Apr 2026 10:12:00 +0530 https://dailyworld.in/business/us-iran-peace-talks-q4-earnings-in-focus-for-indian-markets-next-week-670220.html New Delhi April 19 Investors remain keen on cues from the USIran negotiations global crude oil price trend and ongoing Q4 FY26 earnings commentary to assess market trends this week analysts said on Sunday Market participants said that softer crude prices improving global cues and more stable flows are supporting the recovery this weekIndian equity markets need a followâthrough buying to confirm a durable uptrend even as easing Middle East tensions support the uptrend they saidDownside risks appear relatively contained in the near term while upside momentum is gradually buildingâsuggesting a transition from recovery toward a more stable structure albeit one still dependent on external catalysts an analyst saidContinued stability or further moderation in crude prices could provide a meaningful tailwind for equities and support the broader macro outlookMarkets ended the truncated week with notable gains extending their uptrend for the second consecutive week supported by an improvement in global sentimentâOptimism surrounding a potential USâIran peace agreement underpinned market confidence while stable domestic fundamentals further aided momentumâ an analyst saidLast week indices remained intermittently volatile but maintained an upward bias with broader markets outperforming the frontline indicesNifty and Sensex gained over 1 per cent each to close at 24353 and 78493 respectivelyA temporary easing of shipping disruptions through the Strait of Hormuz helped Brent crude correct toward the 86 level before stabilising in the 92â93 rangeForeign institutional investors showed early signs of stabilisation turning net buyers in the final three sessions of the weekHowever on a cumulative basis flows remained marginally negative for the week at around Rs 250 crore causing investors to look for sustained inflows to confirm reversal in sentimentsIn contrast domestic institutional investors who had been providing consistent support turned net sellers in the final sessions reflecting some profittaking at higher levels On a weekly basis DII outflows stood at approximately Rs 6300 croreTechnically Nifty is consolidating in the 24100â24400 range with immediate resistance near 24400 and support around 24000 A sustained breakout above this level could extend the rally towards the 24800â25000 range an analyst saidThe 56800â57000 band remains a critical resistance zone for Bank Nifty and only a sustained breakout above this range can push the index towards 57500â58000 levels Portfolio allocation may remain tilted towards fundamentally strong largecap stocks while selectively participating in broader market opportunities market participants suggestedSectorally energy and metal amp mining sectors may continue to outperform while other sectors could participate on a rotational basis they forecastedOn the macro front infrastructure output data for March will be released on April 20 followed by Manufacturing Services and Composite PMI data for April on April 23 providing insights into economic momentum IANS https://dailyworld.in/business/us-iran-peace-talks-q4-earnings-in-focus-for-indian-markets-next-week-670220.html Sun, 19 Apr 2026 10:52:00 +0530 https://dailyworld.in/business/cii-bats-for-industrial-land-reforms-to-boost-indias-manufacturing-growth-670243.html New Delhi April 19 Efficient and transparent access to industrial land is critical for accelerating investments reducing project gestation periods and positioning India as a competitive global manufacturing hub a Confederation of Indian Industry CII report said on Sunday The report titled âCII Land Mission Framework to Reform Industrial Land Management in Indiaâ outlines a roadmap to address structural and procedural bottlenecks in Indiaâs industrial land ecosystemâIndiaâs manufacturing ambitions under Make in India National Industrial Corridors renewable energy expansion and modern logistics cannot be realised unless industrial land becomes predictable transparent and investment readyâ said Chandrajit Banerjee Director General CII statedâThe CII Land Mission provides a practical implementationoriented framework that respects social safeguards while enhancing time efficiency predictability and coordination across the land value chainâ he mentionedIndustrial land remains a foundational input for manufacturing infrastructure renewable energy and logisticsHowever the current landscape across states is characterised by fragmented processes regulatory complexity unclear land titles delayed possession and underutilisation of allotted parcelsThese challenges significantly increase the cost of capital delay project commissioning and undermine investor confidence particularly for MSMEs and greenfield investmentsThe report undertakes a detailed assessment of the entire lifecycle of industrial land covering land search and identification application allotment change in land use CLU title and due diligence verification acquisition physical possession postallocation utilisation and institutional capacityA key recommendation of the report is the creation of a unified GISenabled National Industrial Land Bank offering realtime information on land availability zoning status utilities environmental constraints encumbrances and title claritySuch a platform would significantly enhance transparency and enable informed faster investment decisionsThe report also advocates for a fully integrated digital singlewindow system for industrial land applicationsThis system would consolidate approvals across departments standardise documentation enable realtime tracking and introduce clear servicelevel agreements SLAs including deemed approvals for nonsensitive clearances Assigning a designated case owner for each application would further improve accountability and reduce interdepartmental delays according to the reportâThe challenge in industrial land is not only acquisition but readiness and utilisation Even after allotment projects get stuck due to possession issues infrastructure gaps unclear titles and prolonged downstream approvalsâ said TV Narendran Chairman CII Land Mission and Past President CIIThe Land Mission proposals focus on endtoend reform right from clean land banks and faster acquisition to utilisation norms dispute resolution and institutional accountability he addedThe report also draws attention to the wide interstate variation in stamp duty and registration charges which significantly escalates upfront project costs and distorts investment decisions across geographies CII has recommended the adoption of a uniform nationally guided stamp duty for industrial land aimed at reducing transaction costs improving predictability and ensuring that investment location choices are driven by economic fundamentals rather than regulatory arbitrageAt the institutional level CII has proposed the establishment of a National Industrial Land Council NILC modelled on a GSTlike framework to set national standards harmonise landrelated regulations across states monitor implementation and act as a disputeresolution body IANS https://dailyworld.in/business/cii-bats-for-industrial-land-reforms-to-boost-indias-manufacturing-growth-670243.html Sun, 19 Apr 2026 12:46:00 +0530 https://dailyworld.in/business/investor-wealth-erodes-as-7-penny-stocks-sink-up-to-70-pc-in-2026-670265.html Mumbai April 19 As many investors chase quick gains in lowpriced shares at least 7 penny stocks have emerged as major losers in calendar year 2026 so far plunging between 40 per cent and 70 per cent amid high volatility and weak fundamentals The sharp decline in these stocks comes despite their popularity among retail investors looking for highreturn opportunities with minimal initial investmentThe underperformers were identified through a screening strategy that focused on companies with a market capitalisation below Rs 1000 crore share prices under Rs 20 and a minimum recent trading volume of 5 lakh sharesAmong the worst hit is A1 which has seen its value erode by 72 per cent so far this year with its previous close at Rs 14SRU Steels has also taken a significant hit falling 63 per cent in CY2026 while Leading Leasing Finance And Investment Co has declined by 60 per cent during the same periodOther notable laggards include Evexia Lifecare down 57 per cent and Deep Health AI India which has dropped 56 per cent so far this yearPadam Cotton Yarns has slipped 53 per cent while Space Incubatrics Technologies has declined 50 per centMarket experts caution that while penny stocks may appear attractive due to their low prices they often come with elevated risksLimited liquidity sharp price swings and lack of transparency make them vulnerable to manipulation and sudden downturnsIn the absence of disciplined investment strategies and strong risk management such stocks can lead to significant losses for investorsCommenting on Nifty technical outlook for next week the index is consolidating in the 24100â24400 range with immediate resistance near 24400 and support around 24000âA sustained breakout above this level could extend the rally towards the 24800â25000 rangeâ an analyst said IANS https://dailyworld.in/business/investor-wealth-erodes-as-7-penny-stocks-sink-up-to-70-pc-in-2026-670265.html Sun, 19 Apr 2026 14:14:00 +0530 https://dailyworld.in/business/india-targets-100-gw-nuclear-power-capacity-by-2047-cea-chief-ghanshyam-prasad-670275.html New Delhi April 18 India is aiming to scale up its nuclear power capacity more than tenfold from the current 88 gigawatts GW to 100 GW by 2047 as part of its longterm energy transition strategy Ghanshyam Prasad Chairperson of the Central Electricity Authority CEA has said Speaking on the sidelines of a session focused on Indiaâs nuclear roadmap in the national capital Prasad said the ambitious expansion would require a sustained and accelerated pace of developmentâA detailed roadmap has already been prepared outlining the steps needed to achieve the 100 GW target with legislative reforms forming a key part of the planâ he notedâOne of the major milestones the enactment of the Shanti Act has already been completedâ he saidHowever he added that significant work remains in framing rules procedures and guidelines to operationalise the frameworkâThese efforts are currently underway with a focus on incorporating stakeholder feedback and ensuring smoother implementationâ Prasad mentionedPrasad said ongoing deliberations are aimed at fasttracking financial flows and policy execution while also simplifying and standardising processes to make nuclear energy more costeffectiveHe highlighted the need to address multiple aspects such as fuel security site selection and development of skilled human resources to support the expansionHe also indicated that the sector is likely to open up to wider participation in the coming yearsAt present nuclear power generation is dominated by a single player but Prasad said that 10 to 12 companies could enter the space in the future significantly accelerating capacity additionOn the operational side he underscored the reliability and stability of nuclear energy describing it as a dependable source of baseload power that can run continuously for yearsHe added that nuclear energy remains one of the safest and most stable forms of power generation when managed properlyAt the same time Prasad pointed to emerging technologies such as Small Modular Reactors SMRs as both an opportunity and a challenge noting that these are still under development globally but could play a crucial role in cleaner energy solutions IANS https://dailyworld.in/business/india-targets-100-gw-nuclear-power-capacity-by-2047-cea-chief-ghanshyam-prasad-670275.html Sun, 19 Apr 2026 15:16:00 +0530 https://dailyworld.in/business/india-brings-ai-services-to-villages-with-unique-dpi-report-670284.html New Delhi April 19 IANS India is pairing artificial intelligence with digital public infrastructure locallanguage systems and governance safeguards helping farmers women and village institutions can use AI directly rather than through urban intermediaries a report has saidnbspThe report from One World Outlook said Indias approach counter structural challenges such as weak physical infrastructure and high friction in language literacy and accessIt made services legible local and usable by embedding AI into familiar tools such as WhatsAppstyle interfaces voice systems and panchayat systems shifting the technology from urban spectacle to rural serviceThe report cited President of the World Bank Group Ajay Bangas remarks on small AI at IMF Spring Meetings as a testimony of India transforming AI from an urbancentric productivity tool to a rural equaliserIt highlighted that the model focuses on lowcost lowcompute highutility systems to enable rural adoption Thus AI can solve concrete problems such as farm productivity pest detection and market access Banga saidBangas comments at IMF also have a political significance as it frames AI not as a luxury import from the global North but as an instrument of development that can be adapted to Indias social realitiesRural AI in India is becoming a test case for whether emerging economies can shape AI on their own terms the report saidIt outlined two policy pillars underpinning the push strategy and governanceThe National Strategy for AI launched by NITI Aayog positions AI as a tool for inclusive growth in underserved sectors especially agriculture healthcare and education The India AI Governance Guidelines 2025 focus on fairness accountability transparency and Indiaspecific risk assessment it saidIndias approach also linked AI deployment to grievance redressal human oversight and locallanguage accessibility making inclusion systembuilt rather than a later additionIANS https://dailyworld.in/business/india-brings-ai-services-to-villages-with-unique-dpi-report-670284.html Sun, 19 Apr 2026 16:15:00 +0530 https://dailyworld.in/business/gautam-adani-offers-prayers-at-taranga-jain-temple-on-akshaya-tritiya-670285.html Mehsana April 19 Gautam Adani the Chairman of the Adani Group and his wife Dr Priti Adani visited the Shri Ajitnath Bhagwan Shwetamber Jain Derasar in Gujaratâs Taranga hills on Sunday offering prayers on the auspicious occasion of Akshaya Tritiya Arriving at the Dabhoda helipad in Mehsana districtâs Kheralu taluka early morning the couple was received by members of the Jain community before travelling to the hill shrineDevotees had begun gathering early marking a day regarded as especially sacred across traditionsThe temple dedicated to Lord Ajitnath the second Tirthankara in Jainism dates to the 12th century and is associated with the Solanki ruler King Kumarpal It remains an important pilgrimage site for the Jain communityGautam Adani offered prayers inside the sanctum before spending time within the temple complexThe couple also briefly visited the canteen where pilgrims gather during their visitDuring the visit Gautam Adani met temple trustee Sachin Ashokbhai Shah to discuss plans aimed at improving facilities for pilgrims with a focus on enhancing access and amenities while preserving the templeâs architectural and spiritual integrityThe Adani Group is also supporting afforestation efforts in the Taranga hills contributing to the ecological restoration and preservation of the region surrounding the sacred siteAkshaya Tritiya is considered one of the most auspicious days in the Hindu and Jain calendars associated with prosperity new beginnings and acts of charity In Jain tradition it marks the day when Rishabhanatha received his first alms after a prolonged fast establishing the practice of offering food to asceticsEarlier this month on Hanuman Jayanti Gautam Adani and his family offered prayers at the Ram Mandir in Ayodhya one of Indiaâs most prominent Hindu shrines IANS https://dailyworld.in/business/gautam-adani-offers-prayers-at-taranga-jain-temple-on-akshaya-tritiya-670285.html Sun, 19 Apr 2026 16:18:00 +0530 https://dailyworld.in/business/india-closer-to-expanding-its-nuclear-fuel-base-report-670289.html New Delhi April 19 India may be closer than ever to achieving longterm nuclear selfreliance following a key milestone in its ambitious threestage nuclear programme according to an article The report in the Vietnam Times described the development as a potential turning point in Indiaâs decadesold strategy to overcome fuel constraints and build a sustainable nuclear energy baseAccording to the article India has long faced a fundamental challenge India didnât have much uranium the fuel most nuclear reactors run on Even today it noted the country remains dependent on imports including major agreements with countries like Canada However India possesses vast reserves of thorium or 25 per cent of the global total buried in its sands offering a unique longterm opportunityThe report says that thorium cannot be directly used as fuel and requires conversion prompting India to adopt a longterm approach rather than quick fixesInstead of chasing speed Indian nuclear scientist Dr Homi J Bhabha chose something far more ambitious a system that could turn this resource scarcity into selfreliance even if it took decades to get thereThis vision led to Indiaâs threestage nuclear programmeâbeginning with uranium transitioning to plutonium and eventually unlocking thorium For years the second stage remained incomplete But that changed recentlyOn April 6th Indiaâs Prototype Fast Breeder Reactor PFBR at Kalpakkamâ achieved criticality for the first timeâ The report underscores the importance of this moment noting that âcriticality is the point where a nuclear reactor becomes selfsustaining the article saidWhile fast breeder reactors exist elsewhere the Vietnam Times points out that in most other countries the efforts behind these reactors havenât exactly gone as planned Indiaâs persistence therefore stands out it said âAnd yet India didnât back down from this pursuit It stayed committed to breeder reactors because they were essential The significance of the milestone lies in its longterm implications As per the Vietnam Times by achieving criticality India has shown that it can run a reactor using plutoniumbased fuelâ bringing the country closer toâ expanding its nuclear fuel base These reactors can produce more usable material than they consume effectively transforming limited resources into sustainable fuelThe report also highlights the technological complexity involved including the use of mixed oxide fuel and liquid sodium cooling which has to be sealed monitored and engineered with extreme precisionDespite the breakthrough the report cautions that challenges remain Nuclear energy currently accounts for just over 3 per cent of Indiaâs electricity generation and thereâs still a long way to go However if successful the programme could significantly reduce dependence on imported uraniumSumming up the achievement the report notes that India may finally be realising Dr Bhabhaâs longheld vision Running on fuel it already has instead of relying on the world for it IANS https://dailyworld.in/business/india-closer-to-expanding-its-nuclear-fuel-base-report-670289.html Sun, 19 Apr 2026 16:50:00 +0530 https://dailyworld.in/business/top-8-firms-add-rs-187-lakh-crore-in-market-value-last-week-670291.html New Delhi April 19 The combined market valuation of eight of Indiaâs top10 most valued companies surged by Rs 187 lakh crore in a holidayshortened week The positive momentum in the broader market saw the Sensex rise by 94329 points or 121 per cent while the Nifty advanced 30295 points or 125 per cent during the weekAmong individual stocks Bharti Airtel recorded the sharpest increase in valuation adding Rs 5883152 crore to take its total market capitalisation to Rs 112512521 croreLife Insurance Corporation of India also posted strong gains with its valuation climbing Rs 2760862 crore to Rs 53269131 croreTata Consultancy Services saw its market capitalisation rise by Rs 2073164 crore to Rs 93406356 crore while Reliance Industries added Rs 2023105 crore taking its valuation to Rs 184731784 croreEngineering major Larsen amp Toubro also gained significantly with its mcap increasing by Rs 1857791 crore to Rs 56331450 croreIn the banking space ICICI Bank witnessed a rise of Rs 1826682 crore pushing its valuation to Rs 96500867 crore while State Bank of India added Rs 1259979 crore to reach Rs 99722977 croreThe valuation of Infosys also moved higher by Rs 106501 crore to Rs 53477450 croreHowever not all companies ended the week on a positive note HDFC Bank saw its market capitalisation decline by Rs 1616304 crore to Rs 123131553 crore while Bajaj Finance lost Rs 97693 crore bringing its valuation down to Rs 56543717 croreDespite the mixed trend Reliance Industries retained its position as Indiaâs most valued company followed by HDFC Bank and Bharti AirtelState Bank of India ICICI Bank TCS Bajaj Finance Larsen amp Toubro Infosys and LIC completed the list of the top10 most valued firms IANS https://dailyworld.in/business/top-8-firms-add-rs-187-lakh-crore-in-market-value-last-week-670291.html Sun, 19 Apr 2026 16:53:00 +0530 https://dailyworld.in/business/no-new-rbi-norms-on-allowing-exchange-of-discontinued-currency-pib-fact-check-unit-670009.html New Delhi April 18 IANS The factchecking unit of the Press Information Bureau PIB has dismissed reports circulating online which claimed that the Reserve Bank of India RBI has introduced new guidelines permitting the exchange of discontinued currencynbspThe factchecking unit dismissed these claims as fake clarifying that the RBI has made no such announcementSome news reports claim that the Reserve Bank of India RBI has issued new guidelines to exchange discontinued currency notes This claim is Fake The RBI has made NO such announcement said the PIB unit in a post on XThe official RBI website is the only authentic source for updates on financial regulations and currencyrelated announcements For accurate and verified information users are advised to visit the official website of the Reserve Bank of India the post addedIt further stated that one should never forward unverified messagesnbspStay vigilant and share only information from trusted official sources If you encounter any suspicious message photo or video related to the Central Government report it to the Press Information Bureau for verification via WhatsApp or email the X post mentionedIn October last year the unit had also clarified that reports suggesting the RBI had issued new guidelines to exchange old Rs 500 and Rs 1000 notes are fake These currencies were discontinued during the demonetisation exercise in November 2016 and no new exchange rules have been announced since thenEarlier the factchecking unit debunked a viral video that falsely shows Finance Minister Nirmala Sitharaman endorsing a highreturn investment scheme warning citizens against falling for such misinformationIt clarified that neither the Government of India nor Finance Minister is promoting or endorsing any such scheme and urged people to remain cautious of misleading content circulating onlineLast month PIB flagged a fake message circulating on social media that claims State Bank of Indias SBI YONO app accounts will be blocked if users do not update their Aadhaar details immediatelyIANS https://dailyworld.in/business/no-new-rbi-norms-on-allowing-exchange-of-discontinued-currency-pib-fact-check-unit-670009.html Sat, 18 Apr 2026 12:12:00 +0530 https://dailyworld.in/business/india-moves-beyond-blind-exploration-adopts-data-led-approach-hardeep-puri-670093.html New Delhi April 18 Petroleum and Natural Gas Minister Hardeep Singh Puri said that India is moving from blind exploration to datadriven discovery emphasising the need for a more collaborative and open data ecosystem it was announced on Saturday The Directorate General of Hydrocarbons DGH convened a conference on âData Driven Explorationâ to engage industry stakeholders on accelerating Indiaâs exploration outcomes through a stronger data ecosystem in line with the countryâs expanding agenda under the Samudra ManthanNational Offshore Mission the Ministry of Petroleum and Natural Gas saidThe conference was chaired by Neeraj Mittal Secretary Ministry of Petroleum and Natural Gas and saw participation from over 80 delegates including officials from the ministry DGH national oil companies global exploration and production EampP players such as BP ExxonMobil and Shell as well as private operators including Adani Welspun ExplorationWith a renewed focus on offshore and frontier basin development the conference deliberated on the role of seismic data in enabling exploration outcomesAt the DataLed Exploration Conference we reaffirmed a simple truth exploration succeeds when knowledge is shared not siloed the minister said in a post on social media platform XHe added that by promoting a multiclient data ecosystem that allows wider participation in interpretation and innovation India is changing the way the exploration and production sector has traditionally been viewed as uncertainâThe more eyes on the data the greater the possibilities beneath our seasâ Puri saidHe further noted that under the Samudra Manthan initiative India is unlocking its offshore potential through openness collaboration and advanced technologies in line with the goal of energy selfrelianceParticipants at the conference highlighted that the availability quality and accessibility of seismic data are critical determinants of exploration successThey noted that gaps in data coverage particularly in frontier and deepwater basins continue to constrain investment inflows and exploration activityThe industry also emphasised the need for accelerated and targeted seismic data acquisition aligned with upcoming licensing rounds noting that earlystage data availability improves investor participationMulticlient seismic models were identified as a potential mechanism to enhance cost efficiency and expand participation especially in lessexplored basins although a calibrated approach was recommended considering Indiaâs basin maturity and existing data structuresThe role of the government in strengthening the data ecosystem was also underlined including policy support continued investment in data acquisition and improved data access frameworksParticipants further stressed the need for robust procurement and execution frameworks including engagement with multiple service providers and adoption of qualitycumcostbased approaches to ensure timely and highquality data acquisition according to the government IANS https://dailyworld.in/business/india-moves-beyond-blind-exploration-adopts-data-led-approach-hardeep-puri-670093.html Sat, 18 Apr 2026 15:53:00 +0530 https://dailyworld.in/business/cabinet-okays-continuation-of-pmgsy-iii-till-march-2028-with-revised-rs-83-977-crore-outlay-670101.html New Delhi April 18 The Cabinet on Saturday approved the continuation of Pradhan Mantri Gram Sadak YojanaIII PMGSYIII beyond March 2025 up to March 2028 The revised outlay of the scheme will be Rs 83977 crore The scheme involves consolidation of through routes and major rural links connecting habitations to Gramin Agricultural Markets GrAMs higher secondary schools and hospitalsThe extension of the timeline of PMGSYIII will enable the full realisation of its intended socioeconomic benefits by ensuring completion of targeted upgradation of rural roads âIt will significantly boost the rural economy and trade by enhancing market access for agricultural and nonfarm products reducing transportation time and costs and thereby improving rural incomesâ said an official statement Improved connectivity will facilitate better access to education and healthcare institutions ensuring timely delivery of essential services particularly in remote and underserved areas it addedThe Cabinet also approved the extension of timeline till March 2028 for completion of roads and bridges in plain areas and roads in hilly areas extension of timeline till March 2029 for completion of bridges in hilly areas and works sanctioned before 31032025 but unawarded till now may be taken up for tenderawardThe Cabinet okayed Long Span Bridges LSBs total 161 with an estimated cost of Rs 961 crore pending for sanction but lying on the alignment of already sanctioned roads may be sanctioned and tenderedawarded along with revision of outlay to Rs 83977 crore from original outlay of Rs 80250 croreThe official statement said that the continued implementation will also generate substantial employment opportunities both directly through construction activities and indirectly by promoting rural enterprises and services âOverall the extension will contribute to inclusive and sustainable development by bridging the ruralurban divide and advancing the vision of Viksit Bharat 2047â it added IANS https://dailyworld.in/business/cabinet-okays-continuation-of-pmgsy-iii-till-march-2028-with-revised-rs-83-977-crore-outlay-670101.html Sat, 18 Apr 2026 16:38:00 +0530 https://dailyworld.in/business/vedanta-ltd-to-borrow-125-million-barred-from-diluting-hindustan-zinc-ltd-stake-669952.html Mumbai April 17 Vedanta Limited on Friday said it has secured a 125 million external commercial borrowing deal but the agreement comes with strict conditions including a restriction on diluting its stake in subsidiary Hindustan Zinc Limited and a mandate to retain majority ownership until the loan is fully repaid The company signed a facility agreement on April 14 with JPMorgan Chase Bank NA acting through its GIFT City branch as the mandated lead arranger and bookrunner while also serving as the original lenderAxis Trustee Services Ltd has been appointed as the agent for the deal according to its stock exchange filingAs part of the agreement Vedanta will have to maintain at least 501 per cent direct ownership in its subsidiary Hindustan Zinc Limited until the loan is fully repaidThe company is also required to retain direct control over the subsidiary during this periodThe filing further stated that Vedanta cannot create any security on or sell its 501 per cent stake in Hindustan Zinc until the borrowing is completely settledCurrently the Anil Agarwalled firm holds a 6071 per cent stake in Hindustan Zinc of which nearly 92 per cent is already pledged against existing loansOn the market front Vedanta shares were trading 03 per cent lower on the NSE even as the benchmark Nifty rose by a similar marginHowever the stock has delivered strong gains of about 29 per cent so far this yearIn last five days the shares were trading 645 per cent higher The gains pronounced on higher timeframe as the stock delivered around 13 per cent to its investors in last one monthMeanwhile the death toll from the boiler explosion at the Vedanta Power Plant in Singhitarai village in Chhattisgarhs Sakti district earlier this week has risen to 20 with 15 workers still battling injuries in hospitalsThe tragic incident which took place on April 14 at 233 pm has sent shockwaves through the industrial belt of Chhattisgarh IANS https://dailyworld.in/business/vedanta-ltd-to-borrow-125-million-barred-from-diluting-hindustan-zinc-ltd-stake-669952.html Fri, 17 Apr 2026 15:41:00 +0530 https://dailyworld.in/business/kalyan-jewellers-falls-6-pc-titan-company-slips-amid-dgft-delay-669956.html New Delhi April 17 Shares of Kalyan Jewellers India fell sharply on Friday after reports suggested that banks in India have halted fresh imports of gold and silver triggering concerns across the jewellery sector The stock initially dropped nearly 6 per cent during intraday trade but later recovered some losses to trade 286 per cent lowerAccording to reports large quantities of precious metals are currently stuck at customs as a formal government order authorising bullion imports has not yet been issuedThe situation has also impacted silver imports with around 8 tonnes reportedly awaiting customs clearanceKalyan Jewellersâ shares were last seen trading at Rs 41620 down Rs 2410 or 547 per centMeanwhile shares of Titan Company which sells jewellery under its popular Tanishq brand also traded in the red Titan stock was quoted at Rs 441590 down Rs 4550 or 102 per centMarket experts noted that weaker demand from India one of the worldâs largest consumers of gold could put pressure on global prices of gold and silverAt the same time it may help narrow Indiaâs trade deficit and lend support to the rupee which has been among the worstperforming Asian currencies so far this yearAuthorities have already taken steps to ease pressure on the currency including asking refineries to scale back spot dollar purchasesThe report further highlighted that the suspension of import orders by Indian banks along with shipments stuck at ports due to the absence of a fresh authorisation order had not been reported earlierTypically the Directorate General of Foreign Trade DGFT under the Ministry of Commerce and Industry issues an annual directive listing banks authorised by the Reserve Bank of India to import gold and silverThe previous order issued in April 2025 was valid until March 31 2026 and banks are now awaiting a fresh notificationSo far there has been no official statement from the DGFT regarding the delay IANS https://dailyworld.in/business/kalyan-jewellers-falls-6-pc-titan-company-slips-amid-dgft-delay-669956.html Fri, 17 Apr 2026 16:32:00 +0530 https://dailyworld.in/business/natural-farming-boosts-productivity-incomes-by-30-pc-in-andhra-pradesh-report-669965.html New Delhi April 17 IANS A project run by government and UN Environment Programme UNEP promoting natural farming in Andhra Pradesh caused at least 30 per cent increase in productivity and farmer incomes a new report has saidThe initiative has already reached over 3 million farmers with plans to double that number and share lessons globally the report from the UNEP saidThe project namely Andhra Pradesh Community Managed Natural Farming initiative APCNF which evolved from a 2004 Community Managed Sustainable Agriculture programme forgoes use of chemical fertilisers and pesticides for natural biostimulants made from ingredients such as cow urine and dungThe biostimulant will revive soil microbes which will bolster soil fertility by breaking down organic matter and minerals releasing nutrientsSmall quantities of biostimulants will trigger the soil microbes After some years we will not even need them when the soil becomes fertile Dinesh Kumar a local government official saidDiverse plants will feed the soil and the soil will remain healthy feeding the plants in turn without any need for external fertilisers the report explained the philosophy of the programAndhra Pradesh has suffered from declining soil fertility due to erratic rainfall and rapidly declining biodiversity due to monocroppingMadhuri Nanda Director for South Asia at Rainforest Alliance said monocropping causes soil erosion water runoff and leaching of nutrientsBurudi Kumari a fiveyear local practitioner of natural farming said that the quality of soil has improved and she spends less money on fertiliser increasing his earningsKumari is now a lead farmer in her selfhelp group helping others make the transition I was very proud to be elected as a lead farmer introducing others to natural farming she saidSustainable food cultivation also depends on sufficient earnings for farmers and so the initiative has been engaging with the private sector connecting farmers to markets and increasing consumer confidence through certification and traceabilitynbspIANS https://dailyworld.in/business/natural-farming-boosts-productivity-incomes-by-30-pc-in-andhra-pradesh-report-669965.html Fri, 17 Apr 2026 17:41:00 +0530 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/gautam-adani-becomes-asias-richest-person-surpasses-mukesh-ambani-669911.html New Delhi April 17 IANS Billionaire industrialist Gautam Adani Chairman of the Adani Group has become Asias richest individual overtaking Reliance Industries Chairman Mukesh Ambani according to the latest Bloomberg Billionaires IndexGautam Adanis net worth rose to 926 billion placing him 19th globally while Mukesh Ambani slipped to the 20th position with a net worth of 908 billionThe reshuffle at the top highlights the ongoing volatility in global wealth rankings in 2026 amid rising geopolitical tensions and market fluctuationsIn Thursdays stock market session Adani Group stocks witnessed a sharp rise outperforming benchmark indices which led to an increase of around 356 billion in Gautam Adanis net worth in a single dayGlobally Tesla CEO Elon Musk continues to top the list with a net worth of 656 billion followed by Google cofounder Larry Page at 286 billionOther names in the top 10 include Amazons Jeff Bezos Metas Mark Zuckerberg Oracles Larry Ellison Dell Technologies Michael Dell Nvidias Jensen Huang and LVMH CEO Bernard Arnault among othersNotably seven of the worlds top 20 richest individuals have recorded declines in their net worth so far in 2026Moreover Arnault has seen the steepest drop losing 44 billion during the periodOther billionaires who have witnessed significant erosion in wealth include Steve Ballmer Larry Ellison Bill Gates Warren Buffett and Amancio OrtegaA sectoral analysis of the index shows that technology entrepreneurs continue to dominate the global rich list while industrials energy and retail billionaires have seen relatively higher volatility in their net worthAmong other Indian billionaires Lakshmi Mittal ranked 62nd globally with a net worth of 369 billionHCL founder Shiv Nadar stood at the 70th position with 335 billion followed by Shapoor Mistry and family at 71st with 332 billionSavitri Jindal chairperson emeritus of the OP Jindal Group was ranked 73rd globally with a net worth of 327 billionOther prominent Indian names on the list include Sunil Mittal and family Azim Premji Kumar Mangalam Birla and Radhakishan DamaniMeanwhile Adani Group stocks such as Adani Total Gas Adani Ports and Adani Power climbed up to 3 per cent on Friday during the intraday tradingIANS https://dailyworld.in/business/gautam-adani-becomes-asias-richest-person-surpasses-mukesh-ambani-669911.html Fri, 17 Apr 2026 12:56:00 +0530 https://dailyworld.in/business/indias-logistics-sector-likely-to-grow-8-pc-annually-to-362-billion-by-fy30-669917.html New Delhi April 17 Indiaâs logistics sector is projected to touch 362 billion by FY30 from 246 billion in FY25 growing at a CAGR of 8 per cent over rising consumption expanding trade as well as cost optimisation and efficiency gains from key government schemes a report said on Friday The report from Brickwork Ratings projected freight volume to exceed 7100 million tonnes by FY30 from roughly 5000 tonnes in FY24 at a CAGR of 61 per centâManufacturing construction ecommerce and retail are the major drivers of this growth in terms of freight volume Specifically the express logistics segment is projected to grow by 14 per cent making it a key catalyst for the industryâ said Manu Sehgal CEO Brickwork RatingsManufacturing led the enduse segments among logistic sectors with 18 per cent market share in FY25 driven by strong industrial production auto or pharma advancements and export demandMeanwhile warehousing and supply chain services are the fastestgrowing value chain layer supported by increasing investments and GSTled formalisation of the organised marketWest India led the growth with 35 per cent share driven by Mumbaiâs financial prominence major ports strong industrial base in Gujarat industrial hubs and corridorsNorth India followed with around 30 per cent benefiting from strategic transit positioning robust infrastructure and key hubs like DelhiNCRSouth India accounted for approximately 25 per cent supported by port infrastructure ITdriven cities and manufacturing activityEast India posted a 10 per cent share but the share is sharply growing aided by portled trade improving connectivity and its strategic gateway position to the Northeast and neighbouring countriesIndiaâs logistics cost of 8 per cent of GDP is comparable to South Korea 8 per cent USA 8 per cent and Europe 9 per cent far lower than Chinas logistics cost estimated at roughly 14 per cent in 2023Initiatives such as Dedicated Freight Corridors and PM Gati Shakti are aimed at reducing logistics costs further Indiaâs logistics ecosystem is dominated by road transport accounting for 65 per cent market share while rail currently handles 31 per cent of freight IANS https://dailyworld.in/business/indias-logistics-sector-likely-to-grow-8-pc-annually-to-362-billion-by-fy30-669917.html Fri, 17 Apr 2026 13:50:00 +0530 https://dailyworld.in/business/celebrate-akshaya-tritiya-with-24k-digital-gold-on-phonepe-669929.html New Delhi April 17 This Akshaya Triritya PhonePe enables users to embrace the tradition of buying gold with its seamless secure and transparent Digital Gold offering Users can purchase 9999 per cent puritycertified 24K Digital Gold on the PhonePe platform from leading and trusted players in the digital gold space such as MMTCPAMP SafeGold and CaratlaneFor added convenience users can even choose to pay through multiple modes of payment such as UPI UPI Lite credit amp debit cards wallet and gift cardsApart from one time purchase PhonePe also empowers users to purchase Gold digitally via Daily or Monthly SIPs and helps customers save long term systematicallyCustomers also have the flexibility to save any amount starting as low as Rs 10 and sell their gold holdings anytime with the money credited to their bank accountsMillions of customers across India have bought high purity 24K gold on the PhonePe platformHere is a stepbystep guide to purchase 24k Digital Gold on PhonePeStep 1 Open the PhonePe app scroll down to Gold amp Silver and tap on âMoreâStep 2 Tap on âBuy GoldâStep 3 Enter the value you want to buy and click on âProceedâStep 4 Tap Proceed to Pay kindly ensure to do so before the 5 minute timer on your screen runs outStep 5 Choose your mode of payment and click on Pay IANS https://dailyworld.in/business/celebrate-akshaya-tritiya-with-24k-digital-gold-on-phonepe-669929.html Fri, 17 Apr 2026 14:23:00 +0530 https://dailyworld.in/business/make-attractive-fuel-option-govt-panel-favours-scrapping-excise-duty-on-cng-669933.html New Delhi April 17 IANS A highlevel government committee supported by the Petroleum and Natural Gas Regulatory Board PNGRB has recommended removing excise duty on Compressed Natural Gas CNG to lower prices and promote consumption of the green fuel to meet Indias target of achieving a 15 per cent share of natural gas in the fuel mix by 2030nbspThe key recommendations include removing the 14 per cent excise duty to make CNG a more attractive fuel option and also lowering GST on CNG vehicles to 5 per cent to bring them on par with electric vehicles to accelerate adoptionThe recommendations favour maintaining a competitive price difference between CNG and petrol so that consumers are encouraged to switch to the green fuelThe tax relief on natural gas is anticipated to impact roughly 19 crore households and 3841 lakh potential usersThese proposals aim to address the currently high taxes such as the 14 per cent excise duty and state VAT which have made CNG less competitive in certain regions particularly in the southern statesnbspMeanwhile the government has also been encouraging households to switch to piped natural gas PNG from LPG as the West Asia crisis has disrupted supply chains The expansion of piped natural gas PNG has gained momentum with about 458 lakh new PNG connections being gasified and about 51 lakh additional customers registering for new connections since March this yearTill April 15 about 35000 PNG consumers have surrendered their LPG connections via MYPNGDin website States have been advised to facilitate new PNG connections for domestic and commercial consumersThe government is encouraging natural gas adoption through synergy between the PNGRB and states as part of Indias transition toward a cleaner and more sustainable energy future As part of the strategy to increase the share of natural gas in the countrys energy mix the expansion of the City Gas Distribution CGD network through Piped Natural Gas PNG connections has emerged as one of the key performing areasSpearheaded by entities authorised by the PNGRB the CGD network now spans 307 geographical areas GAs covering nearly 100 per cent of the countrys geographical area except islands touching around 784 districts across 34 states and Union Territories The government has undertaken a series of policy and regulatory measures to catalyse growth in this sectorThese measures range from allocating administered price domestic gas and easing supply mechanisms to mandating PNG provisions in government and defence residential complexes granting Public Utility status to CGD projects and directing the CPWD and the NBCC to include PNG provisions in all government residential complexesIANS https://dailyworld.in/business/make-attractive-fuel-option-govt-panel-favours-scrapping-excise-duty-on-cng-669933.html Fri, 17 Apr 2026 14:28:00 +0530 https://dailyworld.in/business/crisil-ltd-clocks-over-3-pc-sequential-decline-in-q4-profit-669940.html Mumbai April 17 Crisil Limited on Friday reported a sequential decline in its financial performance for the March quarter Q4 FY26 with both revenue and net profit slipping compared to the previous quarter The companyâs revenue from operations fell to Rs 105766 crore in Q4 FY26 from Rs 108157 crore in the December quarter a quarteronquarter decline of over 2 per centNet profit also dropped to Rs 23326 crore from Rs 2415 crore in Q3 marking a sequential fall of around 34 per cent as per its regulatory filingDespite the moderation on a quarterly basis Crisil delivered a strong performance on a yearly comparisonNet profit surged nearly 46 per cent yearonyear YoY to about Rs 233 crore in the March quarter up from around Rs 160 crore in the same period previous financial yearRevenue from operations rose 30 per cent to Rs 1058 crore compared with Rs 8132 crore a year ago as per its regulatory filingOperational performance remained healthy with EBITDA climbing 373 per cent yearonyear to Rs 3186 croreThe EBITDA margin improved to 301 per cent from 285 per cent in the corresponding quarter of the previous fiscalInvestor sentiment remained upbeat despite the sequential dip with Crisil shares rising more than 6 per cent on FridayThe stock extended gains for the third straight session and touched an intraday high of Rs 4383 per share on the NSEThe company also announced its first interim dividend of Rs 9 per share as per its regulatory filingCommenting on Q4 results Amish Mehta Managing Director and CEO Crisil said that the firmâs businesses saw growth driven by customer centricity and differentiated domainled solutionsâThe ongoing geopolitical issues underscore the essentiality of our insights and risk solutions for clients navigating complexityâ Mehta added IANS https://dailyworld.in/business/crisil-ltd-clocks-over-3-pc-sequential-decline-in-q4-profit-669940.html Fri, 17 Apr 2026 14:59:00 +0530 https://dailyworld.in/business/indias-construction-market-to-grow-69-pc-through-2034-even-as-costs-rise-669944.html New Delhi April 17 Indiaâs construction market currently valued at 685 billion in 2025 is projected to touch 12 trillion by 2034 at a CAGR of 69 per cent driven by sustained infrastructure investments and urban development a report said on Friday The report from Savills India and Hotelivate said that demand for offices remains robust driven by GCC expansion and occupier preference for GradeA sustainable workspaces Construction costs rose by 64 per centâ76 per cent largely due to a sharp increase in mechanical electrical and plumbing costsâIndiaâs real estate sector continues to demonstrate resilience supported by evolving investor expectations and sustained demand for highquality futureready assets across segmentsâ said Arvind Nandan Managing Director Research amp Consulting Savills IndiaInput volatility and execution challenges are prompting developers to prioritise efficiency sustainability and robust planning as key differentiators in driving longterm value he addedRetail and residential segments lead the sharpest rise in construction costs the report said adding that costs increased between 38 per cent and 139 per cent across sectors from 2023â2025Malls saw the highest surge in costs driven by faÃade complexity deeper basements and higher mechanical electrical and plumbing costsLuxury residential segment surged 128 per cent followed by the midsegment 119 per cent and affordable housing 111 per centResidential demand remains resilient with a clear shift towards premium qualityled developments across urban markets the report notedThe report noted that volatility and wage inflation continue to impact project economics adding that fluctuations in steel cement and crude oil prices remain key cost drivers Construction labour wages have risen roughly 23 per cent from 2020 to 2024 significantly increasing overall costsHospitality sector performance continues to improve with occupancy stabilising at 67â68 per cent and average room rates crossing Rs 9000Investor confidence remains strong with the pipeline exceeding 12 lakh keys and 50000 keys signed in 2025 the report noted The report urged developers to balance cost efficiency with quality along with sustainability and focus on earlystage planning design optimisation and capital allocation IANS https://dailyworld.in/business/indias-construction-market-to-grow-69-pc-through-2034-even-as-costs-rise-669944.html Fri, 17 Apr 2026 15:02:00 +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