DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Wed, 06 May 2026 09:47:31 +0530 en https://dailyworld.in/business/raymond-limiteds-q4-profit-slumps-99-pc-on-one-time-loss-672517.html Mumbai May 5 Raymond Limited on Tuesday reported a sharp decline in its fourthquarter consolidated net profit impacted by a onetime exceptional loss The companyâs net profit attributable to owners for the JanuaryâMarch quarter fell 992 per cent to Rs 11 crore from Rs 133 crore in the yearago period primarily due to an exceptional item outgo of around Rs 20 crore during the quarterDespite the steep fall in profit Raymond posted an 81 per cent rise in revenue to Rs 603 crore compared to Rs 558 crore in the corresponding quarter previous financial yearOperating performance remained robust with EBITDA increasing 378 per cent to Rs 755 crore while margins improved to 125 per cent from 98 per centHowever lower other income and higher expenses weighed on the bottom line Other income dropped sharply to Rs 96 crore from Rs 439 crore a year ago while total expenses rose to Rs 58714 crore from Rs 55685 crore in the same periodThe company also reported a tax credit of Rs 78 crore compared to a tax expense of Rs 88 crore in the yearago quarterRaymond which has diversified interests across aerospace defence precision engineering and auto components said the exceptional loss of Rs 2003 crore significantly impacted quarterly profitabilityOn a fullyear basis the company reported stable growth Consolidated net profit from continuing operations stood at Rs 5354 crore in FY26 slightly higher than Rs 5202 crore in FY25Revenue from continuing operations rose to Rs 22121 crore from Rs 194684 crore in the previous financial yearCommenting on the performance Chairman and Managing Director Gautam Hari Singhania said FY26 was marked by healthy growth across the companyâs core aerospace defence and precision technology segments which remained resilient even in the final quarterâAs our subsidiaries continue to deliver strong operational results our priority is now to scale at pace with global demand We remain steadfast in our pursuit of highmargin opportunities that drive longterm shareholder wealth Singhania stated IANS https://dailyworld.in/business/raymond-limiteds-q4-profit-slumps-99-pc-on-one-time-loss-672517.html Tue, 05 May 2026 21:14:00 +0530 https://dailyworld.in/business/cabinet-clears-eclgs-50-to-boost-liquidity-for-msmes-airlines-amid-west-asia-crisis-672525.html New Delhi May 5 The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved the launch of the Emergency Credit Line Guarantee Scheme ECLGS 50 aimed at providing crucial financial support to businesses impacted by the ongoing West Asia crisis Under the new phase of the scheme the government will extend enhanced credit guarantee coverage through the National Credit Guarantee Trustee Company Limited NCGTCThe scheme offers 100 per cent guarantee coverage for micro small and medium enterprises MSMEs and 90 per cent coverage for nonMSMEs as well as the airline sectorThis backing is intended to encourage banks and financial institutions to lend additional funds without fear of default risksECLGS 50 will allow eligible borrowers to access additional credit of up to 20 per cent of their peak working capital utilisation during the fourth quarter of FY26 subject to a cap of Rs 100 croreFor airlines the support is significantly higher with loans of up to 100 per cent of eligible exposure capped at Rs 1500 crore per borrower provided specific conditions are met Notably the scheme does not impose any guarantee fee reducing the financial burden on borrowersThe tenure of loans under the scheme has been structured to provide flexibility For MSMEs and other businesses the loan term will be five years including a oneyear moratorium on principal repaymentIn the case of airlines the repayment period extends to seven years with a twoyear moratorium The guarantee cover will remain valid for the entire duration of the loanThe scheme will be applicable to loans sanctioned from the date of issuance of guidelines by NCGTC until March 31 2027 Eligibility is limited to borrowers with existing working capital limits or outstanding credit facilities as of March 31 2026 provided their accounts are classified as standardThe government expects Emergency Credit Line Guarantee Scheme 50 to play a critical role in helping businesses navigate shortterm liquidity challenges triggered by geopolitical tensions in West Asia IANS https://dailyworld.in/business/cabinet-clears-eclgs-50-to-boost-liquidity-for-msmes-airlines-amid-west-asia-crisis-672525.html Tue, 05 May 2026 21:26:00 +0530 https://dailyworld.in/business/india-canada-kick-off-second-round-of-free-trade-talks-672348.html New Delhi May 5 India and Canada began the second round of negotiations for a bilateral free trade agreement with the two sides aiming to seal the deal by yearend The fiveday talks in New Delhi come on Monday ahead of the Commerce and Industry Minister Piyush Goyals scheduled visit to Canada at the end of this month to accelerate the momentum of the economic engagement as the two countries target increasing bilateral trade to 50 billion by 2030 The attempt is to fasttrack talks so that the agreement can be concluded by the yearend as decided by the Prime Ministers of the two countries earlier this year a senior official told IANS The first round of negotiations for the pact officially called the IndiaCanada Comprehensive Economic Partnership Agreement CEPA took place in March this year following Canadian Prime Minister Mark Carneys meeting with Prime Minister Narendra Modi in Delhi Prime Minister Carneys visit to India set the tone for a marked improvement in diplomatic ties between the two countries that had hit rock bottom during his predecessor Justin Trudeau as Canadas Prime Minister The Trudeau government was seen to be encouraging Sikh extremists to pursue an antiIndia agenda in Canada Prime Minister Modi and his Canadian counterpart Mark Carney set a yearend target to complete the negotiations for the Comprehensive Economic Partnership Agreement CEPA between the two countries and agreed to deepen bilateral collaboration in the energy and critical mineral sectors during their meeting at New Delhi in March this year The leaders expressed confidence that a comprehensive trade framework would serve as a durable economic anchor for the partnership and support the shared aspiration of expanding bilateral trade to CAD 70 billionRs 465 lakh crore by 2030 according to joint statement issued after the summit between the two leadersIndiaCanada bilateral trade in goods stood at 866 billion in 202425 while Indias exports to the country touched 422 billionMajor items of Indias exports to Canada include pharmaceutical products machinery parts and mechanical appliances iron and steel articles electronic goods organic chemicals jewellery gems and precious stones garments and textiles seafood engineering goods and auto parts Indias major imports from Canada include pulses fertilisers mineral fuels wood pulp gems and precious stones aircraft parts machinery parts and iron and aluminium scrap Indias IT sector is the main contributor to services exports to Canada IANS https://dailyworld.in/business/india-canada-kick-off-second-round-of-free-trade-talks-672348.html Tue, 05 May 2026 09:53:00 +0530 https://dailyworld.in/business/indian-auto-retail-industry-clocks-13-pc-growth-in-best-ever-april-opens-fy27-on-strong-note-672372.html New Delhi May 5 The Indian auto retail industry opened FY27 on an exceptionally strong note retailing a record 2611317 units in April â a 1294 per cent growth the Federation of Automobile Dealers Associations FADA data showed on Tuesday Twowheeler retails continued their robust momentum reaching 1916258 units last month the bestever April for this category The demand engine remained broadbased with urban markets growing 1407 per cent onyear and rural markets growing 1230 per cent âWith twowheelers at 1301 per cent threewheelers at 719 per cent passenger vehicles at 1221 per cent commercial vehicles at 1502 per cent tractors at 2322 per cent and construction equipment at 225 per cent five of the six vehicle categories â along with the total industry â registered alltime April recordsâ said FADA Vice President Sai GiridharThis clearly underlines that the structural demand momentum which defined the second half of FY26 has carried into the new financial year he mentionedCommercial vehicle retails in April stood at 99339 units From a market mix standpoint rural markets grew a striking 2025 per cent YoY growth compared to urban at 1022 per centThe MCV subsegment continued its standout run at 2707 per cent YoY while LCVs grew 1776 per cent and HCVs 825 per cent â reflecting participatory growth across subsegmentsLooking at the MayJuneJuly period dealer confidence remains broadly steady with 5090 per cent of dealers now expecting growth â marginally firmer than the 4981 per cent growth expectation recorded in the previous survey for the AprilJune window This suggests that the dealer community continues to view the underlying demand pulse as intact even as it factors in the customary seasonal lull that typically sets in between the conclusion of the marriage season and the onset of the festive buildup said the FADA reportNotably 3646 per cent of dealers have revised their FY27 retail expectations upwards with 4621 per cent retaining the existing view indicating that the underlying confidence in the mediumterm India consumption story remains wellanchored âOverall the next three months outlook hence remains measured but cautiously optimistic â the growth momentum is intact but as the industry transitions from the strong Q4 FY26 close to a more calibrated midyear phase expectations are normalising rather than weakeningâ said the report IANS https://dailyworld.in/business/indian-auto-retail-industry-clocks-13-pc-growth-in-best-ever-april-opens-fy27-on-strong-note-672372.html Tue, 05 May 2026 10:13:00 +0530 https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-on-fresh-geopolitical-jitters-672374.html Mumbai May 5 Domestic equity markets on Tuesday traded sharply lower in the morning trade amid fresh jitters over escalating geopolitical tensions between the US and Iran Sensex was trading at 76745 down 067 per cent or 524 points in early trade while Nifty slipped to 23949 declining 07 per cent or 170 pointsSectorwise selling pressure was driven by auto financials banking consumer durables and metal stocks Nifty Auto Nifty Private Bank Nifty PSU Bank Nifty Consumer Durables and Nifty Metal indices declined by up to 07 per centFrom the 50share basket Shriram Finance Bajaj Finance Maruti Suzuki Eicher Motors MampM Bajaj Finserv IndiGo HDFC Bank ICICI Bank Larsen amp Toubro Trent and Tata Steel were among the top laggards In contrast Nifty IT and Nifty FMCG witnessed positive momentumMoreover the volatility tracker India VIX spiked over 2 per cent to around 19Market jitters intensified following a fresh flareup in the West Asia standoff between Washington and Tehran The two sides exchanged strikes in the Gulf as rival naval blockades turned the Strait of Hormuz into a potential flashpoint threatening to unravel an already fragile ceasefireThe sentimental boost provided by the BJPâs electoral victory in West Bengal will not last The market trend will be guided by developments in West Asia particularly in the Strait of Hormuz The resumption of hostilities in the Hormuz region and Brent crude again spiking to around 113 are headwinds for the market a market expert saidAlso the US 10year bond yield rising to 444 per cent and the rupee sliding to the 9523 level are unfavourable from the FPI flows perspective Yesterdayâs cash market buying by FIIs is unlikely to mark the beginning of a trend In the near term the market will respond to Q4 results and management commentary the expert addedThe latest exchange of missiles and drone fire followed a push by US President Donald Trump to escort stranded tankers and cargo vessels through the Strait a critical artery for global energy trade that has been effectively choked since the United States and Israel launched their campaign against Iran in FebruaryThe war now in its third month has claimed thousands of lives across the regionOn the commodities front the international oil benchmark Brent crude slipped as much as 136 per cent to 11288 per barrel while the US West Texas Intermediate WTI fell more sharply declining 234 per cent to 10392 per barrelGlobally Asian markets showed a mixed trend Hong Kongâs Hang Seng shed more than 1 per cent while Japanâs Nikkei edged slightly higher and South Koreaâs KOSPI moved sidewaysIn the US the SampP 500 ended 041 per cent lower while the Nasdaq dipped 020 per cent IANS https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-on-fresh-geopolitical-jitters-672374.html Tue, 05 May 2026 10:28:00 +0530 https://dailyworld.in/business/elon-musk-to-pay-15-million-to-settle-sec-case-on-twitter-stake-672391.html New Delhi May 5 Billionaire entrepreneur Elon Musk has agreed to pay 15 million to settle a case with the US Securities and Exchange Commission SEC over delayed disclosure of his stake in Twitter now known as X according to multiple reports The settlement which is subject to court approval will be paid by the Elon Musk Revocable Trust which the SEC added as a defendant in the case the regulator saidThe regulator has alleged that the trust failed to timely disclose beneficial ownership after crossing the 5 per cent stake threshold in Twitter in violation of disclosure requirements under the Securities Exchange Act of 1934Without admitting or denying the allegations the trust has consented to a final judgment that includes a 15 million civil penalty and a permanent injunction against future violations of beneficial ownership disclosure rulesAs part of the agreement the SEC said it would move to dismiss Musk in his personal capacity if the court approves the settlement effectively resolving the case in fullThe SEC had earlier alleged that the delayed disclosure allowed Musk to acquire shares at lower prices costing shareholders over 150 million The penalty is significantly lower than the more than 200 million the regulator had initially sought to settle the caseIn addition Muskâs lawyer reportedly described the settlement as a âsmall fineâ maintaining that the issue related to a delay in a single filingThe case filed in January 2025 is separate from an ongoing classaction lawsuit by investors over the same disclosure lapseNotably Musk engaged in a legal battle with OpenAI and its CEO Sam Altman alleging the firm deviated from its nonprofit mission to pursue commercial interests He approached OpenAI President Greg Brockman for a possible settlement just two days before the highstakes trial began in a federal court in Oakland according to a recent filing IANS https://dailyworld.in/business/elon-musk-to-pay-15-million-to-settle-sec-case-on-twitter-stake-672391.html Tue, 05 May 2026 11:46:00 +0530 https://dailyworld.in/business/biocon-founder-kiran-mazumdar-shaw-names-niece-claire-as-successor-report-672402.html New Delhi May 5 Biocon founder Kiran MazumdarShaw has named her niece Claire Mazumdar as her successor outlining a formal succession plan for the biopharmaceutical company according to a report In an interview with Fortune India MazumdarShaw 73 said she sees Claire 37 as the right person to lead Biocon a leading biopharmaceutical firm into its next phase of growthâI am the sole owner of Biocon and I need to make sure that I put it in good hands I have seen my niece Claire as my successor because I think she has proved to me that she can run a companyâ she saidClaire Mazumdar who is currently the founder and CEO of Bicara Therapeutics a Nasdaqlisted company incubated by Biocon MazumdarShaw who has no children said a broader family ecosystem could also support the companys future growthThis includes Claires brother Eric Mazumdar a professor at the California Institute of Technology and an AI expert as well as her husband Thomas Roberts an oncologist at Massachusetts General HospitalAs part of a wider organisational overhaul Biocon has merged its generics and biologics businesses simplified its structure and reduced debt The company is sharpening its focus on biosimilars which contribute a significant share of revenue with several products already in the market and more in the pipeline MazumdarShaw saidMoreover the chosen successor holds a degree in Biological Engineering from the Massachusetts Institute of Technology an MBA from Stanford Graduate School of Business and a PhD in Cancer Biology from Stanford School of MedicineThe report also highlighted that leadership transitions are also underway across group companiesIt added that Shreehas Tambe has taken over as CEO and Managing Director of Biocon Biologics while Siddharth Mittal is set to lead Syngene International from July 1Shares of Biocon were trading over 1 per cent higher at Rs 36555 on the BSE on Tuesday IANS https://dailyworld.in/business/biocon-founder-kiran-mazumdar-shaw-names-niece-claire-as-successor-report-672402.html Tue, 05 May 2026 12:18:00 +0530 https://dailyworld.in/business/auto-retail-surges-13-in-record-april-kicks-off-fy27-strong-672405.html New Delhi May 5 IANS The Indian auto retail industry opened FY27 on an exceptionally strong note retailing a record 2611317 units in April a 1294 per cent growth the Federation of Automobile Dealers Associations FADA data showed on TuesdaynbspTwowheeler retails continued their robust momentum reaching 1916258 units last month the bestever April for this categorynbspThe demand engine remained broadbased with urban markets growing 1407 per cent onyear and rural markets growing 1230 per centnbspWith twowheelers at 1301 per cent threewheelers at 719 per cent passenger vehicles at 1221 per cent commercial vehicles at 1502 per cent tractors at 2322 per cent and construction equipment at 225 per cent five of the six vehicle categories along with the total industry registered alltime April records said FADA Vice President Sai GiridharThis clearly underlines that the structural demand momentum which defined the second half of FY26 has carried into the new financial year he mentionedCommercial vehicle retails in April stood at 99339 units From a market mix standpoint rural markets grew a striking 2025 per cent YoY growth compared to urban at 1022 per centThe MCV subsegment continued its standout run at 2707 per cent YoY while LCVs grew 1776 per cent and HCVs 825 per cent reflecting participatory growth across subsegmentsLooking at the MayJuneJuly period dealer confidence remains broadly steady with 5090 per cent of dealers now expecting growth marginally firmer than the 4981 per cent growth expectation recorded in the previous survey for the AprilJune windownbspThis suggests that the dealer community continues to view the underlying demand pulse as intact even as it factors in the customary seasonal lull that typically sets in between the conclusion of the marriage season and the onset of the festive buildup said the FADA reportNotably 3646 per cent of dealers have revised their FY27 retail expectations upwards with 4621 per cent retaining the existing view indicating that the underlying confidence in the mediumterm India consumption story remains wellanchorednbspOverall the next three months outlook hence remains measured but cautiously optimistic the growth momentum is intact but as the industry transitions from the strong Q4 FY26 close to a more calibrated midyear phase expectations are normalising rather than weakening said the reportIANS https://dailyworld.in/business/auto-retail-surges-13-in-record-april-kicks-off-fy27-strong-672405.html Tue, 05 May 2026 12:20:00 +0530 https://dailyworld.in/business/india-plays-key-role-in-nigeria-turning-exporter-of-petroleum-products-report-672435.html New Delhi May 5 While the closure of the Strait of Hormuz amid the USIsrael war on Iran has disrupted supply chains of fuelimporting countries it has also opened up new opportunities for countries like Nigeria to step up exports of petroleum product from its coastal refinery that has been built with Indian and Chinese assistance according to a new report The Lagosbased refinery owned by Aliko Dangote Africaâs richest man is operating at full capacity of 650000 barrels per day and supplying fuel across West Central and East Africa according to an article in Business Insider Africa news portal The article states that cargoes have reached markets from Senegal to Mozambique with additional shipments extending into Europe including the Netherlands and the United Kingdom as well as parts of AsiaâThe refineryâs execution reflects a combination of Chinese industrial capacity and Indian engineering oversight underpinning both delivery speed and project scale compared with typically longer timelines associated with Western contractorsâ the article points outMore than eight Chinese firms have been involved in the project since inception providing the industrial backbone that enabled largescale deliveryIndiaâs role has centred on engineering management and project continuity In January Dangote Group renewed a 350 million contract with Engineers India Ltd EIL to support the expansion of the refinery and petrochemicals complex the article observesEIL will serve as Project Management Consultant and Engineering Procurement and Construction Management consultant replicating its role in the initial phase commissioned in 2024 At peak construction more than 30000 Nigerians were employed on the project alongside 6400 Indian and 3250 Chinese workers reflecting the scale and technical demands of the refineryAbout 11000 trained Indian workers were engaged drawing scrutiny from regional stakeholders although the company maintained that the refineryâs complexity required global expertise the article further statesIt highlights that between 2016 and 2018 the group sent Nigerian graduates to Bharat Petroleum Corporation Limited in Mumbai for training in refinery operations maintenance and production as part of efforts to build local technical capacity ahead of commissioningThe programme covered about 800 Nigerians trained in batches of 50 over a 24month period providing exposure to largescale refining systems in India home to the Jamnagar Refinery the worldâs largest refining complexâNotably Indian engineer Devakumar V G Edwin who served as Vice President for Oil and Gas at Dangote Industries played a key role in the refineryâs technical development and operational rolloutâ the article statesThe article highlights that the refineryâs impact is beginning to show in trade flows with Nigeria becoming a net exporter of refined petroleum products in March for the first time reversing decades of import dependence IANS https://dailyworld.in/business/india-plays-key-role-in-nigeria-turning-exporter-of-petroleum-products-report-672435.html Tue, 05 May 2026 15:02:00 +0530 https://dailyworld.in/business/vietnam-president-to-lams-india-visit-likely-to-boost-trade-supply-chain-ties-672439.html New Delhi May 5 The India visit of Vietnam President To Lam is expected to inject fresh momentum into bilateral ties as India and Vietnam look to deepen cooperation and shape a new framework for growth under their Comprehensive Strategic Partnership a report has said The visit comes at a time when economic engagement between the two countries is witnessing strong expansion across sectors such as trade investment digital technology manufacturing and energy according to Vietnam News reportSince the establishment of their Comprehensive Strategic Partnership in 2016 both sides have steadily built political trust while strengthening practical collaborationBilateral trade has emerged as a key pillar of this relationship with total trade tripling from 54 billion in 2016 to a record 1646 billion in 2025 according to Vietnamâs Ministry of Industry and TradeThe growth momentum has continued into 2026 with trade reaching 48 billion in the first quarter alone marking a sharp 28 per cent increase yearonyearVietnamâs exports to India have been led by manufactured and processed goods such as electronics machinery and agricultural products while Indiaâs exports include textile materials plastics pharmaceuticals and steel that support Vietnamâs production and export ecosystemExperts note that the two economies are increasingly complementary with Indiaâs strengths in raw materials pharmaceuticals and software aligning well with Vietnamâs manufacturing capabilities and global trade integration as per the reportThis complementarity is helping both countries move beyond direct competition towards deeper supply chain integration and production linkagesAs global companies diversify manufacturing bases India and Vietnam are positioning themselves as key players in the ongoing restructuring of regional supply chains the report statedInvestment ties are also expanding with Indian businesses now operating projects across 20 provinces and cities in VietnamAt the same time Vietnamese companies are gradually increasing their footprint in India including major proposals such as Vingroupâs plan to set up an electric vehicle manufacturing facility in Tamil NaduNew areas of cooperation are also emerging Textiles and footwear are becoming important sectors for industrial collaboration supported by global supply chain shifts and complementary strengths in raw materials and manufacturing the report said IANS https://dailyworld.in/business/vietnam-president-to-lams-india-visit-likely-to-boost-trade-supply-chain-ties-672439.html Tue, 05 May 2026 15:52:00 +0530 https://dailyworld.in/business/jlr-india-cuts-range-rover-sv-prices-by-up-to-rs-75-lakh-ahead-of-india-uk-fta-672447.html New Delhi May 5 Jaguar Land Rover India on Tuesday announced a sharp reduction in prices of its flagship Range Rover models by up to Rs 75 lakh as it moves to pass on anticipated benefits from the proposed IndiaUK free trade agreement to customers The company said that the price cuts apply to completely built unit CBU models imported from the UK with the biggest revisions seen in the highend SV portfolioThe Range Rover SV has been repriced from Rs 425 crore to Rs 35 crore exshowroom while the Range Rover Sport SV now starts at Rs 235 crore down from Rs 275 croreAccording to the company the revised pricing reflects changes expected under the new duty structure once the IndiaUK FTA comes into effectThe new prices are effective immediately signalling the companyâs confidence in the agreementâs rolloutCommenting on the move Managing Director Rajan Amba said the company is extending the anticipated benefits of the trade deal to its customers in advanceHe noted that the updated pricing reinforces JLR Indiaâs customerfirst approach and aims to make its premium SV range more accessible to buyersThe revised prices reflect the new duty structure enabled by the FTA and will be effective immediately it saidHe added that the free trade agreement is expected to expand the appeal of the brandâs aspirational portfolio and further strengthen the companyâs growth trajectory in Indiaâs luxury car marketHowever the company clarified that prices of its locally manufactured models including Range Rover Range Rover Sport Range Rover Evoque Range Rover Velar and Discovery Sport will remain unchanged as they are not impacted by import duty revisionsIt also said that models such as Defender and Discovery will continue with their current pricing since they are produced in Slovakia and do not fall under the scope of the IndiaUK trade agreementWe are confident that this FTA will allow more clients to experience the highly desirable and aspirational SV portfolio and further strengthen the JLR India growth story Amba stated IANS https://dailyworld.in/business/jlr-india-cuts-range-rover-sv-prices-by-up-to-rs-75-lakh-ahead-of-india-uk-fta-672447.html Tue, 05 May 2026 16:00:00 +0530 https://dailyworld.in/business/indias-collaborative-policy-in-critical-minerals-sector-holds-key-for-african-countries-672459.html New Delhi May 5 African nations which possess over 30 per cent of global reserves of critical minerals such as copper lithium nickel and graphite are increasingly looking for partnerships with other countries that are not merely focused on extraction but also allow for technology transfer local value addition workforce development and environmental accountability according to an article in One World Outlook âIn this shifting landscape Indiaâs emerging approach offers a notable contrast Rather than positioning itself purely as a buyer or investor it is gradually building a reputation as a collaborator â one that works within local priorities and seeks longterm alignment This difference may prove decisiveâ the article states It cites the example of Zambia which has rich copper reserves The demand for copper is expected to surge in the coming decades with projections indicating a significant global supply gap by 2035But Zambiaâs mining sector faces the problem of a lack of reliable geological data This creates uncertainty for investors and limits the governmentâs ability to negotiate from a position of strengthIndiaâs engagement in Zambia has focused on addressing this very gap By supporting geological mapping and earlystage exploration â covering thousands of square kilometresâ Indian institutions are helping improve the countryâs database This strengthens policymaking enhances transparency and ultimately allows Zambia to capture greater value from its mineral wealth the article points out This kind of upstream collaboration reflects a quieter but more durable form of partnership It is not about immediate extraction but about building the foundations for future cooperation In a sector where information asymmetry has historically disadvantaged resourcerich countries such contributions carry significant weight the article observes A different set of dynamics is evident in Zimbabwe which holds some of the worldâs largest hard rock lithium reserves Lithium a key component in battery technologies is witnessing explosive demand with global consumption expected to multiply several times over by 2030 For India which is entirely dependent on imports for lithium diversifying supply sources is criticalZimbabwe however is not an easy environment for new entrants The sector is marked by regulatory shifts environmental concerns and strong competition from established players The government has also introduced policies that restrict the export of raw lithium emphasising local processing and value additionIndian firms have an opportunity to differentiate themselves by embedding sustainability into their operations from the outset This includes transparent environmental assessments efficient resource use community engagement and fair compensation mechanisms Such practices not only reduce operational risks but also build local legitimacy Similarly Tanzania possesses significant reserves of graphite and nickel both critical to battery technologies The country faces the challenge of having limited capacity to process and refine these minerals domesticallyWithout a skilled workforce the ability to move beyond raw material exports remains limited Recognising this Tanzania has prioritised education and training as part of its industrial strategyIndiaâs longstanding engagement in this area provides a natural foundation for deeper cooperation Over decades Indian training programmes scholarships and technical partnerships have supported the development of thousands of Tanzanian professionals Institutions such as the IIT Madras campus in Zanzibar represent a new phase of this engagement offering advanced education and research opportunities within the region the article added IANS https://dailyworld.in/business/indias-collaborative-policy-in-critical-minerals-sector-holds-key-for-african-countries-672459.html Tue, 05 May 2026 17:00:00 +0530 https://dailyworld.in/business/voltamp-transformers-shares-hit-20-pc-lower-circuit-after-q4-profit-halves-672461.html Mumbai May 5 Shares of Voltamp Transformers Limited plunged 20 per cent on Tuesday hitting the lower circuit after the company reported a sharp decline in earnings for the March 2026 quarter The stock fell to Rs 10016 on the National Stock Exchange of India NSE wiping out significant investor wealth and dragging the companyâs market capitalisation down to Rs 1464959 croreBy midafternoon session the stock was trading at Rs 10116 down over 19 per cent from its previous close of Rs 12520The sharp selloff followed a weak operational performance in the fourth quarter The company reported revenue of Rs 61722 crore slightly lower than Rs 62481 crore in the same period previous financial yearHowever profitability took a bigger hit with EBITDA falling 30 per cent yearonyear to Rs 7977 crore while margins contracted to 1317 per cent from 1863 per centNet profit nearly halved to Rs 48 crore from Rs 97 crore in the yearago quarter as per its regulatory filingDespite the quarterly weakness the company reported steady growth for the full financial year 202526 with net sales and service revenue rising 1134 per cent to Rs 215368 croreThe board has also recommended a final dividend of Rs 100 per share subject to shareholder approvalVoltamp said it entered FY26 with a robust order backlog of Rs 1200 crore and secured additional orders worth Rs 310 crore in AprilThe company added that its enquiry pipeline remains strong though it is maintaining a selective approach while bidding for new projectsThe company attributed the sharp decline in quarterly profit to multiple factors including adverse movements in its investment portfolioOver the past two years Voltamp had invested significantly in longterm government securities and mutual funds which had previously generated strong marktomarket gainsHowever a rise in longterm government bond yields during the March quarter led to negative MTM adjustments impacting reported earnings IANS https://dailyworld.in/business/voltamp-transformers-shares-hit-20-pc-lower-circuit-after-q4-profit-halves-672461.html Tue, 05 May 2026 17:02:00 +0530 https://dailyworld.in/business/memory-price-surge-drags-india-smartphone-market-in-q1-amid-geopolitical-tensions-672465.html New Delhi May 5 Indias smartphone market reached its weakest quarterly performance in recent years with shipments declining 2 per cent yearonyear in Q1 2026 driven by a sharp rise in DRAM and NAND flash prices which pushed up device costs and forced brands to increase pricing â leading pricesensitive consumers to defer upgrades According to the CMR âIndia Mobile Handset Market Reviewâ by CyberMedia Research CMR the impact was sharply uneven across segmentsWhile the premium segment grew 25 per cent the affordable segment declined 46 per cent and the valueformoney segment fell 12 per centIndias smartphone market entered 2026 under clear cost pressure largely driven by ongoing memory supply constraints A sharp rise in DRAM and NAND prices has increased device costs forcing brands to recalibrate pricing across segments This has resulted in slower upgrade cycles said Menka Kumari Senior AnalystâIndustry Intelligence Group IIG CMRThe impact is most pronounced in the valueformoney segment where price sensitivity remains highAt the same time the market is undergoing a structural shift Consumers are becoming more deliberate in their purchase decisions prioritising tangible value over frequent upgrades said the reportThe feature phone segment deepened its structural decline in Q1 2026 The 2G segment fell 12 per cent YoY while 4G feature phones collapsed 41 per centGoing forward CMR projects a 10â12 per cent fullyear decline for Indias smartphone market in CY2026 with the affordable and valueformoney segments likely to see continued volume pressure margin compression and cautious consumer demandNearterm demand will remain uneven with pricesensitive consumers in the affordable and valueformoney segments deferring upgrades amid sustained cost pressuresAs OEMs intensify their premium focus a clear gap is emergingâthe Rs 5000âRs 15000 segment is being left underserved For smartphone OEMs that can deliver differentiated value at accessible price points This represents a significant and largely untapped opportunityâ said Amit Sharma Senior AnalystâIndustry Intelligence Group IIG CMR IANS https://dailyworld.in/business/memory-price-surge-drags-india-smartphone-market-in-q1-amid-geopolitical-tensions-672465.html Tue, 05 May 2026 17:07:00 +0530 https://dailyworld.in/business/indigo-flight-evacuated-after-fire-in-passengers-personal-electronic-equipment-flyers-safe-672471.html New Delhi May 5 IANS A passengers personal electronic equipment caught fire onboard an IndiGo flight from Hyderabad to Chandigarh on Tuesday which was stationary after landing and all customers were safely moved to the terminalnbspThe incident occurred on flight 6E 108 while the aircraft was on ground Cabin crew responded immediately and managed to contain the situation preventing any damageOn 5 May 2026 while IndiGo flight 6E 108 from Hyderabad to Chandigarh was stationary after landing an incident involving a customers personal electronic equipment catching fire was reported an IndiGo spokesperson said in a statementIn the interest of safety an immediate evacuation was carried out and all the relevant authorities were immediately informed said the airlineAll customers have been safely moved to the terminal and are being attended to by the team to ensure their wellbeing The aircraft will undergo necessary checks before resuming operations At IndiGo the safety of our customers and crew remains our top priority the spokesperson addedIn endmarch a full emergency was declared at New Delhis Indira Gandhi International IGI airport after an IndiGo flight purportedly developed a technical snag midair leading to the failure of one of its enginesThe Delhibound flight made an emergency but safe landing on IGIs runway number 28 Ahead of the landing all emergency services at the airport were pressed into action and necessary arrangements were made by the Delhi International Airport Limited DIAL as per existing aviation protocolAccording to the Ministry of Civil Aviation a full emergency was declared at the Airport at 1039 am The Ministry also informed that the flight landed at 1054 in the morning safely and operations were now normal at the AirportAll 161 passengers and crew members on board were unharmed Authorities confirmed that there was no damage to the aircraftThe Indigo flight was flying from Andhra Pradeshs Visakhapatnam to DelhiIANS https://dailyworld.in/business/indigo-flight-evacuated-after-fire-in-passengers-personal-electronic-equipment-flyers-safe-672471.html Tue, 05 May 2026 17:59:00 +0530 https://dailyworld.in/business/pakistan-economy-under-strain-as-debt-and-liabilities-spiral-to-rs-85-trillion-report-672474.html New Delhi May 5 Pakistanâs economy is under mounting pressure as its total debt and liabilities have surged to Rs 85 trillion over the past four years which highlights a steep rise in fiscal stress amid limited structural reform a report has said A report in The News Pakistan highlighted that the countryâs debt and liabilities have increased from around Rs 55 trillion four years ago to Rs 85 trillion at present an overall jump of nearly 55 per cent This translates into an average annual increase of about Rs 75 trillion highlighting the scale of continuous borrowing it saidOn a monthly basis liabilities have reportedly risen by around Rs 625 billion while on a daily basis the accumulation stands at nearly Rs 20 billion The report noted that this persistent rise underscores the pace at which fiscal obligations are building up in the economyMoreover the expansion in debt has not been matched by corresponding growth in productive assets or economic output that raised concerns over the sustainability of public finances The report highlighted that in the absence of meaningful reforms debt accumulation continues to outpace economic efficiency gains adding pressure on fiscal stability Moreover a similar trend is visible in the power sector where circular debt has increased from Rs 22 trillion to Rs 32 trillion an increase of around 45 per cent in four yearsThis suggested annual additions of about Rs 250 billion with persistent inefficiencies weak recoveries and continued losses Stateowned enterprises SOEs also remain a significant burden with more than 110 entities carrying liabilities exceeding Rs 30 trillion These enterprises collectively incur losses of Rs 800 billion to Rs 1 trillion annuallyIn addition on governance and expenditure Pakistanâs federal and provincial governments operate a fleet of around 85500 vehicles compared to just 86 used by the UK government Annual fuel expenditure stood at approximately Rs 114 billion or about Rs 95 billion per month according to the report IANS https://dailyworld.in/business/pakistan-economy-under-strain-as-debt-and-liabilities-spiral-to-rs-85-trillion-report-672474.html Tue, 05 May 2026 18:06:00 +0530 https://dailyworld.in/business/sensex-nifty-end-lower-as-geopolitical-tensions-drag-markets-672478.html Mumbai May 5 Indian equity benchmarks ended lower on Tuesday as rising geopolitical tensions in West Asia weighed on investor sentiment pulling down banking realty and oil and gas stocks The Nifty slipped 8650 points or 036 per cent to close at 2403280 while the Sensex declined 25161 points or 033 per cent to settle at 7701779The benchmarks erased gains from the previous session as selling pressure intensified through the daySectorally banking real estate and oil and gas stocks emerged as the biggest laggards reflecting concerns over global growth and rising uncertainty in energy marketsIn contrast auto and FMCG stocks showed resilience providing some support to the broader marketThe broader indices however displayed a mixed trend The Nifty MidCap index ended 017 per cent higher while the Nifty SmallCap index gained 028 per centMarket sentiment remained cautious amid escalating tensions in West Asia Reports suggested that the United States and Iran have exchanged fire near the Strait of Hormuz despite a ceasefire that had been in place for over a monthThe renewed conflict has raised fears of prolonged instability in the region which is critical for global oil suppliesâGoing ahead market direction is likely to stay sensitive to geopolitical developments and incremental cues from upcoming earnings a market expert statedMeanwhile Rupee extended its weakness slipping below 9525 to trade near 9530 as elevated crude prices above 100 kept pressure on the currencyâIn the near term 9470 is likely to act as resistance while 9550 is seen as immediate support with markets closely tracking US nonfarm payrolls and unemployment data this week for further direction an analyst stated IANS https://dailyworld.in/business/sensex-nifty-end-lower-as-geopolitical-tensions-drag-markets-672478.html Tue, 05 May 2026 18:08:00 +0530 https://dailyworld.in/business/apples-iphone-17-tops-global-smartphone-sales-in-q1-report-672479.html New Delhi May 5 Appleâs iPhone 17 emerged as the worldâs bestselling smartphone in the first quarter of 2026 capturing 6 per cent of global unit sales according to a report released on Tuesday According to analysis by Counterpoint Research the iPhone 17 series dominated the charts securing the top three positions while Samsungâs Galaxy A series had the widest presence with five models in the top 10 listThe top 10 smartphones accounted for 25 per cent of global unit sales during the quarter the highestever concentration for a first quarter driven by strong demand for Appleâs latest lineup and pressure on Android manufacturers in the massmarket segment amid rising component costsâiPhone 17 continues to outperform its predecessor owing to key upgrades such as higher base storage improved camera resolution and enhanced display refresh rate bringing it closer to the Pro variantsâ said Harshit Rastogi Senior Analyst at Counterpoint ResearchâThe device registered doubledigit yearonyear growth in key markets like China and the US and nearly threefold growth in South Korea during the quarterâ Rastogi addedMeanwhile the iPhone 17 Pro Max and iPhone 17 Pro followed closely offering advanced features across camera battery and designAmong Android devices Samsungâs Galaxy A07 4G emerged as the bestselling smartphone driven by strong demand in emerging markets such as the Middle East Africa and Latin America The modelâs extended software and security support also boosted its appeal among valuefocused buyersThe report noted that Samsungâs flagship Galaxy S26 Ultra narrowly missed the top 10 list though it recorded stronger initial sales compared to its predecessor supported by new features including a privacy display and AI upgradesLooking ahead the report projected that the share of topselling smartphone models will increase further in 2026 with premium devices continuing to gain traction even as overall market growth remains under pressureâIn response to evolving market dynamics OEMs are increasingly focusing on premium portfolios prioritising value over volumeâ said Karn Chauhan Senior Analyst at Counterpoint Research IANS https://dailyworld.in/business/apples-iphone-17-tops-global-smartphone-sales-in-q1-report-672479.html Tue, 05 May 2026 18:09:00 +0530 https://dailyworld.in/business/domestic-investors-hit-all-time-high-of-21-pc-in-nifty-500-672490.html Mumbai May 5 Domestic institutional investors DIIs have overtaken foreign peers in a significant shift in Indian equity market ownership with their holdings in Nifty 500 companies touching a record 209 per cent in March 2026 a report has said As per Motilal Oswal Financial Services Limited MOFSL report this marks the eighth consecutive quarter of rise in DII holdings up 170 basis points yearonyear and 50 basis points quarteronquarter On the flip foreign institutional investor holdings slipped to a fresh low of 171 per cent down 180 basis points over the same period it saidThe FIIDII ownership ratio in the Nifty 500 has now contracted to 08 times a level that signals a decisive structural shift in who controls Indias equity marketsAccording to MOFSL the primary driver behind DII strength has been the steady inflow through systematic investment plans In the first quarter of calendar year 2026 domestic institutions pumped 272 billion into Indian equities even as foreign investors pulled out 158 billion the bulk of it 142 billion in March alone that triggered by the escalating Iran conflictOnce the war dust settles there is a high likelihood of a better FII flow environment the report noted It further said that even a slowdown in outflows would be viewed positively by the marketAmong sectors DIIs raised their stakes in 21 of 24 sectors on a yearonyear basis with the sharpest increases in private banks technology telecom real estate and Healthcare FIIs by contrast cut holdings in 17 sectors and their allocation to the technology sector fell to an alltime low of 73 per centIn addition promoter holdings edged up 40 basis points quarteronquarter to 494 per cent while retail holdings rose modestly to 127 per centAcross market capitalisation segments DIIs raised their stakes in largecap midcap and smallcap stocks alike all touching record highs while FIIs reduced exposure across the boardIn terms of returns the Nifty 500 has gained about 80 per cent in the last five years and 276 per cent over the past year Since the start of the USIran war February 28 the index has declined 002 per cent or 5 points from 2283595 March 2 to 2283075 May 3 IANS https://dailyworld.in/business/domestic-investors-hit-all-time-high-of-21-pc-in-nifty-500-672490.html Tue, 05 May 2026 18:20:00 +0530 https://dailyworld.in/business/parivartan-hoye-gechhe-bengal-verdict-to-bay-of-bengal-vision-from-mandate-to-momentum-672498.html New Delhi May 5 Parivartan hoyechhe captures more than an electoral outcome It reflects a decisive public shift towards governance that delivers connects and integrates The mandate that has aligned West Bengal with the national leadership under Prime Minister Narendra Modi has opened a new pathway for Indiaâs eastern strategy The political synchronisation between Delhi Kolkata and the Northeast provides a rare opportunity to convert intent into execution The Prime Ministerâs articulation of Act East Act Fast now stands on a foundation that can move at speed with clarity and purposeThis moment carries implications far beyond domestic politics It sets the stage for a renewed and confident partnership with Bangladesh where development becomes the shared language of engagement A politically aligned eastern corridor strengthens trust accelerates connectivity and restores momentum to bilateral initiatives that had slowed over time At a time when uncertainties in western maritime routes including disruptions around the Strait of Hormuz have exposed vulnerabilities in traditional trade flows the eastern seaboard anchored in the Bay of Bengal gains strategic importance The opening of integrated land and maritime routes through Bangladesh offers a stable and efficient alternative reinforcing regional resilience This is where the mandate in Bengal directly supports the larger vision of Act East by linking growth security and connectivity into a single forwardmoving framework that benefits both nations and returns the development agenda to the people on both sides of the borderWhy the People Chose ChangeThe electoral verdict is rooted in a clear aspiration for development Voters across Bengal responded to the promise of coordinated governance infrastructure expansion industrial revival and job creation There is visible fatigue with administrative delays and fragmented authority The idea of a doubleengine government has translated into a demand for faster delivery better connectivity and transparent systems The electorate has moved beyond narrow political narratives and chosen a forwardlooking economic agenda that links Bengal to the larger national and regional growth storyIndia and Bangladesh Restoring Confidence Through GrowthThe most immediate and meaningful impact of this shift is on Indiaâs relationship with Bangladesh The bilateral partnership has remained strong in intent but has faced periodic constraints in execution The present moment offers an opportunity to restore confidence on both sides of the border through visible outcomes The relationship must now be anchored in trust predictability and shared prosperity Indiaâs development agenda in the East is closely linked to Bangladeshâs growth trajectory A stable confident and economically vibrant Bangladesh directly strengthens Indiaâs eastern regionFrom Border Management to Border DevelopmentThe transformation must begin at the border The IndiaBangladesh boundary can evolve from a line of regulation into a zone of opportunity Modern integrated check posts efficient land customs systems and digital clearance platforms can reduce delays and enhance trade flows Border haats and local trade networks can energise grassroots economies The emphasis should be on ease of movement for goods and people engaged in legitimate economic activity This shift in approach will build trust and create visible benefits for communities that have historically felt disconnected from national growthResolving Pending Agreements with SensitivityLongpending issues such as the Teesta water sharing arrangement and the renewal of the Ganga water framework require timely and balanced resolution These agreements carry both economic and emotional significance A transparent datadriven and mutually respectful approach will strengthen confidence in Indiaâs commitments The political alignment in West Bengal provides the space to move forward with clarity and sensitivity while addressing local concernsConnectivity as the Core of IntegrationConnectivity remains the backbone of the IndiaBangladesh partnership Rail links road corridors inland waterways and port access through Chattogram and Mongla are central to this vision For Indiaâs northeastern states Bangladesh provides the most efficient route to global markets For Bangladesh integration with Indiaâs vast market and infrastructure network opens new avenues for growth This is a natural economic complementarity that must be strengthened through sustained investment and policy supportEase of Travel and Business as Confidence BuildersMobility is a powerful instrument of diplomacy Liberalised visa regimes for business medical travel education and cultural exchange can rebuild peopletopeople trust Predictable trade policies simplified compliance frameworks and transparent regulatory systems will encourage businesses on both sides to expand engagement The objective is to create an environment where economic activity flows smoothly without disrupting domestic growth priorities in either countryEconomic Complementarity and Shared Value ChainsIndia and Bangladesh are wellpositioned to develop integrated manufacturing and supply chains Sectors such as textiles pharmaceuticals and light engineering offer strong potential for collaboration Joint industrial zones near the border can attract investment and generate employment The guiding principle should be mutual benefit ensuring that growth in one country reinforces growth in the other This approach will reduce perceptions of imbalance and build a durable economic partnershipEnergy and Maritime Cooperation in the Bay of BengalEnergy cooperation has already created a strong foundation through crossborder electricity trade and fuel supply arrangements This can be expanded into renewable energy partnerships and joint infrastructure projects The Bay of Bengal is emerging as a critical economic and strategic space India and Bangladesh can work together to strengthen maritime security develop port infrastructure and facilitate regional trade This cooperation will enhance stability and create new economic opportunities across the regionNortheast India as the Gateway to the EastThe integration of Indiaâs northeastern states with Bangladesh is central to the success of the Act East policy Improved connectivity will transform the Northeast from a peripheral region into a vibrant economic hub Trade corridors linking the Northeast to Southeast Asia through Bangladesh and Myanmar can redefine regional commerce This is not only an economic imperative but also a strategic necessity for balanced regional developmentA Partnership Based on Respect and ReciprocityThe future of IndiaBangladesh relations rests on a partnership of equals The emphasis must remain on respect sensitivity and reciprocity A developmentfirst approach that recognises each otherâs priorities will strengthen longterm cooperation Institutional mechanisms regular dialogue and sustained engagement will ensure continuity and stability in the relationshipFrom Bengal to Southeast Asia A Regional TransformationThe impact of this transformation extends beyond bilateral ties With Bangladesh as a central partner Indiaâs eastern corridor can connect seamlessly to Myanmar and the broader Southeast Asian region This integrated network of land and maritime routes will position eastern India as a key node in regional and global trade It aligns with the larger IndoPacific vision and strengthens economic resilience across the regionConclusion Delivering on the Promise of ChangeParivartan hoyechhe now carries the responsibility of delivery The alignment of political will economic vision and regional cooperation has created a moment of opportunity The success of Act East Act Fast will be measured by the speed of execution the fairness of partnerships and the tangible benefits delivered to people on both sides of the borderThe path forward is clear Build trust through growth Connect economies through infrastructure Strengthen partnerships through respect In doing so India and Bangladesh can together shape a new eastern horizon that drives prosperity not only for themselves but for the wider regionThe author is a former diplomat and strategic affairs expert Views expressed are personal IANS https://dailyworld.in/business/parivartan-hoye-gechhe-bengal-verdict-to-bay-of-bengal-vision-from-mandate-to-momentum-672498.html Tue, 05 May 2026 19:36:00 +0530 https://dailyworld.in/business/fire-breaks-out-at-rbi-building-in-new-delhi-no-injuries-reported-672499.html New Delhi May 5 A fire broke out at the Reserve Bank of India RBI building here on Tuesday afternoon but was controlled soon in a swift response from firefighting teams No injuries or casualties were reported in the incident officials saidAccording to officials the blaze originated from a box containing solar panels within the premisesFirefighters were alerted to the situation at around 105 pm following which five fire tenders were rushed to the spotThe fire was brought under control within 15 minutes preventing any major damage or escalationAuthorities confirmed that the situation was handled quickly and safely with no harm to personnel present at the buildingThe incident comes close on the heels of another fire reported in the city A blaze had broken out earlier in the Chawri Bazar area of Delhi for which a call was received by the Connaught Place Fire Station at around 721 pm on SundayFirefighting teams were immediately dispatched to manage the situationMeanwhile last week the central bank said that 9847 per cent of the Rs 2000 denomination banknotes in circulation have been returned nearly three years after it announced their withdrawalThe central bank had declared the withdrawal of Rs 2000 notes from circulation on May 19 2023 as part of its currency management exerciseAt that time the total value of such notes in circulation stood at Rs 356 lakh croreAccording to the latest data release by RBI on May 1 this figure has now sharply declined to Rs 5451 crore as of April 30 2026The total value of Rs 2000 banknotes in circulation which was Rs 356 lakh crore at the close of business on May 19 2023 when the withdrawal of Rs 2000 banknotes was announced has declined to Rs 5451 crore at the close of business on April 30 2026 the central bank said IANS https://dailyworld.in/business/fire-breaks-out-at-rbi-building-in-new-delhi-no-injuries-reported-672499.html Tue, 05 May 2026 19:37:00 +0530 https://dailyworld.in/business/crypto-firm-coinbase-laying-off-14-pc-of-staff-as-ai-changes-work-ceo-672500.html New Delhi May 5 Crypto exchange Coinbase on Tuesday said it is laying off 14 per cent of its staff as artificial intelligence AI is changing the way people work to be lean fast and AInative All impacted team members will receive an email to their personal account with more information âand an invitation to meet with an HRBP and a senior leader in your organizationâ said the companyâCoinbase system access has been removed today I know this feels sudden and harsh but it is the only responsible choice given our duty to protect customer informationâ said Coinbase CEO Brian Armstrong in an X postâToday Iâve made the difficult decision to reduce the size of Coinbase by 14 per cent Two forces are converging at the same time We need to be front footed to respond to bothâ he wroteFirst the market The CEO said Coinbase is wellcapitalised has diversified revenue streams and is wellpositioned to weather any stormâHowever our business is still volatile from quarter to quarter While weve managed through that cyclicality many times before and come out stronger on the other side weâre currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner faster and more efficient for our next phase of growthâ said ArmstrongSecond AI is changing how we workâOver the past year Iâve watched engineers use AI to ship in days what used to take a team weeks Nontechnical teams are now shipping production code and many of our workflows are being automated The pace of whats possible with a small focused team has changed dramatically and its accelerating every dayâ he notedHe further stated that the company is adjusting early and deliberately to rebuild Coinbase to be lean fast and AInativeâWe need to return to the speed and focus of our startup founding with AI at our coreâ the CEO addedUS employees will receive a minimum of 16 weeks base pay plus 2 weeks per year worked their next equity vest and 6 months of COBRA benefitsEmployees on a work visa will get extra transition support Those outside of the US will receive similar support based on local factors and subject to any consultation requirements IANS https://dailyworld.in/business/crypto-firm-coinbase-laying-off-14-pc-of-staff-as-ai-changes-work-ceo-672500.html Tue, 05 May 2026 19:38:00 +0530 https://dailyworld.in/business/indias-defence-production-jumped-174-pc-to-rs-154-lakh-crore-in-last-10-years-jitendra-singh-672505.html Prayagraj May 5 Union Minister of State for Science and Technology Dr Jitendra Singh said on Tuesday that in the last decade India has transitioned from being a major importer of defence equipment to an emerging exporter with defence production recording a 174 per cent leap to Rs 154 lakh crore while exports grew 34 times to Rs 23622 crore The Minister said a substantial contribution of around Rs 15000 crore to total exports came from the private sector reflecting a major shift towards collaborative defence manufacturingAddressing the North Tech Symposium 2026 in Prayagraj the minister said India has entered a decisive phase in its defence journey where technology indigenous innovation and private sector participation are shaping a new global identity for the country Warfare is no longer defined by physical strength alone but increasingly driven by advanced technologies realtime data systems and automated platformsReferring to Indiaâs expanding technological base the minister said sectors such as space atomic energy artificial intelligence and quantum technologies are now integral to defence preparedness India has already achieved rapid progress in quantumsecure communication capabilities which will play a critical role in future warfare systems he addedHighlighting the increasing support from the government the minister said that the budget for 202627 earmarks Rs 681000 crore for defence which is 95 per cent more than last yearDr Jitendra Singh said reforms in key sectors have opened new opportunities for industry participation enabling faster innovation cycles and scaling of indigenous technologies He added that government support through funding mechanisms and policy initiatives is creating a strong ecosystem for research development and deploymentEmphasising the importance of synergy Dr Jitendra Singh said that the alignment of operational requirements of the Armed Forces with scientific research and industrial capability is essential for building a resilient and selfreliant defence ecosystem He called for accelerated timelines from design to deployment with focus on reliability scalability and longterm sustainmentThe Minister also spoke about the evolving role of the Armed Forces highlighting their critical contribution not only in national security but also in disaster response and humanitarian assistance recalling recent instances where timely intervention saved livesThe North Tech Symposium 2026 is being held in Prayagraj from May 4 to 6 The symposium serves as a premier platform bringing together the Armed Forces industry academia and startups to develop missionoriented indigenous solutions for evolving operational requirements Key focus areas include artificial intelligence unmanned systems counterdrone technologies robotics cyber and electronic warfare communication systems mobility platforms and highaltitude operational support Over 280 industry partners are participating in the eventDr Jitendra Singh said that Indiaâs pursuit of selfreliance in defence is rooted in technological sovereignty with a focus on developing owning and sustaining critical technologies within the country He expressed confidence that collaborative efforts between the Armed Forces industry and research institutions will accelerate Indiaâs emergence as a leading defence technology nation IANS https://dailyworld.in/business/indias-defence-production-jumped-174-pc-to-rs-154-lakh-crore-in-last-10-years-jitendra-singh-672505.html Tue, 05 May 2026 19:45:00 +0530 https://dailyworld.in/business/individual-debt-becomes-pakistans-burden-amid-lack-of-govt-oversight-672507.html New Delhi May 5 Pakistan is perhaps the only country in the world where individual debt has become the nationâs burden as those who borrow do not pay back and loan writeoffs are common together with defaults according to a new report Then there are kickback projects which are built on borrowed money with no framework for payback IMF has recently observed that there is no check on government spending says the report in Business Recorder âThere is no parliamentary oversight or debate only rules of procurement are defined need assessment and loan retirement is not consideredâ it addsTill October 1958 Pakistan was debt free Today the republic is mired under debt Only the external component is around 140 billion âThe entire federal budget is consumed by debt servicing and defence expenditure There is no money left to run the glutinous nonperforming state apparatusâ the report laments Under the National Finance Commission NFC award a major portion of tax money is transferred to the provinces âEven IMF International Monetary Fund the lender of choice has started imposing conditionalities before releasing funds Loan yes leaving alone no it is indeed getting serious nowâ the report mentionsDebt is a major fault line for the country that needs to be corrected Driving luxury automobiles on borrowed money is indeed shamefulâThe choice is between moratorium and default or a combination of both but business as usual cannot continue There should be a parliamentary committee for debt controlâ the report says All future borrowing should be stopped in the next budget starting July 1 2026 A fiveyear suspension of interest payments should be negotiated with the lenders Balance of payment must be achieved The import and export bills must be lumped together and tracked There must be a massive cut in state expenses it adds IANS https://dailyworld.in/business/individual-debt-becomes-pakistans-burden-amid-lack-of-govt-oversight-672507.html Tue, 05 May 2026 19:47:00 +0530 https://dailyworld.in/business/indias-steel-exports-surge-291-per-cent-amid-rising-self-reliance-672508.html New Delhi Indiaâs exports of steel rose by 291 per cent in March 2026 compared to the same month of the previous year while imports declined sharply by 95 per cent reflecting the increasing selfreliance in the sector according to an official statement issued on Tuesday The positive shift underscores Indiaâs emergence as a reliable global steel supplier It also demonstrates the countryâs improved ability to meet rising domestic demandIndiaâs steel production registered a robust 91 per cent growth in the financial year 202526 compared to the same period last year reflecting the increasing selfreliance in the sectorIndia has also established itself as a leading exporter of iron and steel alloys Rising exports of steel and related products contribute to higher foreign exchange earnings This in turn helps improve the trade balance It supports the broader vision of a selfsustained and resilient industrial ecosystem under Atmanirbhar Bharat the statement saidThe top destinations for Indiaâs finished steel exports in March 2026 were Vietnam Belgium and Taiwan Together they comprise more than 50 per cent of Indiaâs total finished steel exportsBesides exports of finished steel increased by 3580 per cent in FY 2025â26 compared to the same period last year Meanwhile imports declined by 4647 per cent during the same periodThe government has implemented several measures to strengthen raw material availability ensure global market access and reduce import dependence These steps have lowered production costs driven growth in the steel industry and supported MSMEs and small steel producersUnder the PLI scheme Rs 23022 crore investment supported specialty steel production and job creation This resulted in 24 million tonnes of output and over 13000 new jobs India has achieved about 66 per cent of its National Steel Policy production targetSpecialty steel is the downstream valueadded product of the steel manufacturing process It is one of the 14 sectors covered under the PLI Scheme which aims to boost domestic production of highvalue steel It will improve the trade balance and raise export value realisation It will also help the Indian steel industry upgrade technology and move up the value chain the statement saidGoing forward green steel aims to reduce emissions by avoiding the use of fossil fuels to reduce the carbon footprint India is also committed to decarbonising the sector and achieving netzero emissions by 2070 the statement added IANS https://dailyworld.in/business/indias-steel-exports-surge-291-per-cent-amid-rising-self-reliance-672508.html Tue, 05 May 2026 19:49:00 +0530 https://dailyworld.in/business/indigo-flight-evacuated-after-fire-in-passengers-personal-electronic-equipment-flyers-safe-672509.html New Delhi May 5 A passengerâs personal electronic equipment caught fire onboard an IndiGo flight from Hyderabad to Chandigarh on Tuesday which was stationary after landing and all customers were safely moved to the terminal The incident occurred on flight 6E 108 while the aircraft was on ground Cabin crew responded immediately and managed to contain the situation preventing any damageâOn 5 May 2026 while IndiGo flight 6E 108 from Hyderabad to Chandigarh was stationary after landing an incident involving a customers personal electronic equipment catching fire was reportedâ an IndiGo spokesperson said in a statementIn the interest of safety an immediate evacuation was carried out and all the relevant authorities were immediately informed said the airlineâAll customers have been safely moved to the terminal and are being attended to by the team to ensure their wellbeing The aircraft will undergo necessary checks before resuming operations At IndiGo the safety of our customers and crew remains our top priorityâ the spokesperson addedIn endmarch a full emergency was declared at New Delhiâs Indira Gandhi International IGI airport after an IndiGo flight purportedly developed a technical snag midair leading to the failure of one of its enginesThe Delhibound flight made an emergency but safe landing on IGIâs runway number 28 Ahead of the landing all emergency services at the airport were pressed into action and necessary arrangements were made by the Delhi International Airport Limited DIAL as per existing aviation protocolAccording to the Ministry of Civil Aviation a full emergency was declared at the Airport at 1039 am The Ministry also informed that the flight landed at 1054 in the morning safely and operations were now normal at the AirportAll 161 passengers and crew members on board were unharmed Authorities confirmed that there was no damage to the aircraftThe Indigo flight was flying from Andhra Pradeshs Visakhapatnam to Delhi IANS https://dailyworld.in/business/indigo-flight-evacuated-after-fire-in-passengers-personal-electronic-equipment-flyers-safe-672509.html Tue, 05 May 2026 19:50:00 +0530 https://dailyworld.in/business/madhya-pradesh-govt-to-constitute-trade-welfare-board-672510.html Bhopal May 5 The Madhya Pradesh government on Tuesday announced the establishment of a StateLevel Trade Welfare Board a move aimed at strengthening the states trade and industrial ecosystem officials said The Ministry of Industrial Investment under the stewardship of Chief Minister Mohan Yadav will oversee the board with the Chief Minister himself serving as its chair the state Cabinet decided on Tuesday The Department of Micro Small and Medium Enterprises MSME currently under Minister Chetanya Kumar Kashyap will be a key member alongside representatives from seven to eight other departments directly linked to trade and commerce the Minister said here on Tuesday after the Cabinet meeting In addition five to six prominent nongovernmental organisations including FICCI and Laghu Udyog Bharati will be represented along with 10 governmentnominated members tasked with advising on trade growth development and employee welfare The initiative also envisions committees at the district level ensuring that the benefits of this board reach grassroots traders and smallscale industrialists At its core the boards primary mission is to promote exports by educating traders about available schemes and creating a supportive environment for trade expansion across districts A significant responsibility entrusted to the board is the formulation of policy proposals that simplify regulations thereby enhancing the ease of doing business Minister Kashyap addedThe aim is to reduce bureaucratic hurdles and administrative obstacles enabling traders to operate with greater efficiency and confidence he said This decision reflects a broader vision of empowering small traders and industrialists while simultaneously aligning with national priorities of boosting exports and strengthening the economy By involving both government departments and respected nongovernmental institutions the board is expected to provide balanced perspectives and practical solutions the Minister addedThe inclusion of districtlevel committees underscores the state governments intent to ensure that even local traders benefit from these reforms With its focus on regulatory simplification export promotion and welfare of employees the Trade Welfare Board marks a significant step in Madhya Pradeshs industrial and commercial policy framework It is anticipated to foster a more businessfriendly environment encourage investment and contribute to the states economic growth Minister Kashyap said IANS https://dailyworld.in/business/madhya-pradesh-govt-to-constitute-trade-welfare-board-672510.html Tue, 05 May 2026 19:51:00 +0530 https://dailyworld.in/business/bhel-posts-156-pc-rise-in-net-profit-at-rs-1-290-crore-in-q4fy26-672264.html New Delhi May 4 Stateowned engineering company Bharat Heavy Electricals Ltd BHEL on Monday reported a massive jump in its consolidated net profit to Rs 1290 crore for the March quarter of FY2026 led by robust growth in the power sector Maharatna PSU firm reported a 156 per cent yearonyear increase in profit after tax PAT which stood at Rs 50445 crore in the corresponding quarter of the previous financial year according to the companyâs regulatory filingDuring the JanuaryâMarch quarter revenue from operations rose 37 per cent yearonyear to Rs 12310 crore from Rs 8993 crore in the yearago period the filing showedSegmentwise the power business remained the key driver of performance with revenue increasing 536 per cent to Rs 950985 crore during the quarter compared with Rs 619241 crore in the same period last yearFor the full financial year 2025â26 BHEL reported a consolidated net profit of Rs 160026 crore registering a nearly 200 per cent jump from Rs 53390 crore in the previous fiscalTotal income for FY26 stood at Rs 3458983 crore reflecting a 20 per cent yearonyear increase from Rs 2880479 crore in FY25The power segment continued to dominate annual performance as well with revenue rising 21 per cent to Rs 2540671 crore compared with Rs 2093725 crore in the preceding yearAlongside the results the companyâs board approved a final dividend of Rs 140 per equity share of Rs 2 each for the financial year ended March 31 2026Shares of BHEL on Monday closed almost 7 per cent higher at Rs 37695 on the BSE The PSU stock has touched a 52week high of Rs 39895 and a 52week low of Rs 20520 on the exchange IANS https://dailyworld.in/business/bhel-posts-156-pc-rise-in-net-profit-at-rs-1-290-crore-in-q4fy26-672264.html Mon, 04 May 2026 18:41:00 +0530 https://dailyworld.in/business/bse-resolves-183-investor-complaints-against-companies-in-april-672273.html New Delhi May 4 Leading exchange firm BSE Limited on Monday said it resolved 183 investor complaints against 117 companies during April 2026 including grievances carried forward from previous reporting periods During the month the exchange received 168 complaints against 117 companies while it disposed of 183 complaints against 128 companies indicating that resolutions exceeded fresh complaints filed during the monthAccording to the exchange the resolved complaints include cases pending from earlier periods reflecting ongoing grievance redressal activity on the exchange platformAs of April 2026 three companies accounted for the highest number of investor complaints pending redressal for more than one monthJSW Steel Limited topped the list with nine pending complaints followed by Hindustan Unilever Ltd with four complaints and HBL Engineering Limited with three complaints pending beyond one month it said However BSE Limited did not specify the nature of the complaints in its disclosureIn comparison BSE had resolved 150 complaints against 114 companies during February 2026 while receiving 113 complaints against 94 companies in the same month The February data indicated that complaint disposals exceeded fresh complaintsNotably in December 2025 the exchange had resolved 109 complaints against 92 companies while receiving 141 complaints against 113 companies indicating a higher inflow of grievances compared to resolution during that monthEarlier in September 2025 BSE had resolved 190 complaints against 126 companies while receiving 173 new complaints In October 2025 it resolved 143 complaints against 90 companies including carriedforward cases and received 120 new complaints against 81 companiesThese figures suggest that complaint resolution levels have remained broadly active over the past several months with variations in inflows and disposals depending on market activity and investor participationOn Monday BSE Limited shares ended at Rs 3712 up about 2 per cent from the previous close on the NSE IANS https://dailyworld.in/business/bse-resolves-183-investor-complaints-against-companies-in-april-672273.html Mon, 04 May 2026 18:51:00 +0530 https://dailyworld.in/business/common-man-is-our-vitthal-maha-cm-fadnavis-emphasises-citizen-centric-governance-via-tech-wari-20-672277.html Mumbai May 4 Maharashtra Chief Minister Devendra Fadnavis on Monday inaugurated the Maharashtra Training Week under the Tech Wari 20 initiative asserting that the ultimate goal of technology is to simplify the lives of common citizens Comparing the public to the deity Vitthal the Chief Minister highlighted that the administrations pilgrimage Wari is dedicated to their service The event organised by the General Administration Department GAD aims to implement a rapid roadmap for citizencentric administration through technological advancementAddressing the gathering Chief Minister Fadnavis emphasised that in an era of rapidly evolving technology continuous learning is no longer optional The definition of literacy has evolved from basic reading and writing to internet proficiency and now to Artificial Intelligence AI Today only those who understand and can use AI are truly literate the Chief Minister said He predicted that 80 to 90 per cent of administrative work formats would change in the next 1000 days due to AI He stressed that while technology is vital human emotions mental health introspection and the Art of Handling Criticism are equally crucial for a robust administrationThe Chief Minister lauded the iGOT platform noting that Maharashtras officers have shown exemplary enthusiasm in adopting AI and Blockchain He remarked that if these capabilities are harnessed correctly Maharashtra could provide consulting expertise to other statesDeputy Chief Minister Sunetra Pawar described Tech Wari 20 as a golden opportunity for employees to become futureready Just as the Wari to Pandharpur symbolises discipline faith and unity Tech Wari represents the administrations journey toward digital empowerment This is not just a technical introduction it is a massive movement for human resource development she said She also highlighted that Maharashtra secured the top rank in the national Sadhana Saptah initiative and remains a leader in the Mission Karmayogi training programmesMaharashtra Chief Secretary Rajesh Agarwal noted that Tech Wari 20 focuses on the development of both the Left Brain analytical and Right Brain creative Focus is on AI Data Protection DPDP Act and Project Management There will be integration of music yoga dance and culture to boost mental wellbeing while laying high emphasis on cyber security and digital safety he addedMaharashtra GAD Additional Chief Secretary V Radha provided the programme details noting that 6000 employees are participating in person while the sessions are being livestreamed to more than nine lakh employees across the state The fiveday event features themes like Taalrang Naadrang Yograng Kalarang and SanskrutirangAn innovative AI agent named Vasudev interacted with the audience providing programme information and demonstrating the efficiency of AI Sessions cover Quantum Computing Generative AI Digital Public Infrastructure and Ethics in Administration the government statement saidThe Chief Minister honoured several frontline Mantralaya staff including Pallavi Sawant Nitin Gursale and others for their dedicated service IANS https://dailyworld.in/business/common-man-is-our-vitthal-maha-cm-fadnavis-emphasises-citizen-centric-governance-via-tech-wari-20-672277.html Mon, 04 May 2026 18:55:00 +0530 https://dailyworld.in/business/dubai-airport-passenger-traffic-drops-66-pc-in-march-amid-geopolitical-tensions-672074.html New Delhi May 4 IANS The ongoing geopolitical tensions in West Asia which began in February have impacted the aviation sector with Dubai International Airport seeing a steep decline in passenger traffic in March according to reportsnbspVolumes were reportedly decreased by 66 per cent amid disruptions linked to the conflict in IranMoreover the sharp fall dragged firstquarter traffic down to 25 lakh passengers a decline of 21 compared to the yearago periodThe worlds busiest international hub has witnessed several operational disruptions including temporary shutdowns following dronerelated incidents in nearby areas during the conflict which led to widespread flight disruptions across West Asia and curtailed travel demand during the monthWhile no fullyear guidance was provided authorities indicated that underlying travel demand remains robustChief Executive Officer Paul Griffiths reportedly said that the airport is wellpositioned to handle the recovery in traffic as capacity is gradually restored reinforcing its status as a key global aviation hubMeanwhile India continued to be the largest source market contributing 25 lakh passengers followed by Saudi Arabia the United Kingdom and Pakistan Among destinations London recorded the highest traffic at 752 lakh passengers with Mumbai and Jeddah next in lineEarlier in March Dubai Airport had announced a temporary suspension of flights as a precautionary measure after a drone struck a fuel tank in the vicinityIn a post on X the airport said flights were halted to ensure the safety of passengers and staff while advising travellers to check with airlines for updatesEarlier in March restoration of flight operations to Qatar and Bahrain was announced by Air India Express amid the conflict The airline will continue to operate flights to key destinations including Dubai Abu Dhabi Ras Al Khaimah Sharjah and Al Ain in the UAE Muscat in Oman Jeddah Riyadh and Dammam in Saudi Arabia along with Bahrain and Doha in Qatar it saidThe airline firm has said that Kuwait services will also remain part of its Gulf networkIANS https://dailyworld.in/business/dubai-airport-passenger-traffic-drops-66-pc-in-march-amid-geopolitical-tensions-672074.html Mon, 04 May 2026 12:18:00 +0530 https://dailyworld.in/business/adani-groups-jaypee-plan-gets-nclat-nod-vedanta-plea-dismissed-672075.html New Delhi May 4 IANS Adani Groups resolution plan for Jaiprakash Associates Limited JAL has received approval from the National Company Law Appellate Tribunal NCLAT which dismissed Vedantas appeal challenging the processnbspA Bench comprising Chairperson Justice Retd Ashok Bhushan and Technical Member Barun Mitra upheld the earlier order of the National Company Law Tribunal NCLT and said there were no grounds to interfere with the decision of the adjudicating authorityThe tribunal also held that the Committee of Creditors CoC was justified in rejecting Vedantas resolution planNCLAT observed that the CoCs decision taken in its 24th meeting on November 14 2025 to not consider the addendum was neither invalid nor untenableIt further noted that no material irregularity had been committed in the resolution plan and upheld the commercial wisdom of the CoC effectively validating the processWe do not find any ground to interfere with the order passed by the adjudicating authority the tribunal saidJaiprakash Associates Limited JAL was admitted into the corporate insolvency resolution process by the Allahabad Bench of the NCLT on June 3 2024Earlier the appellate tribunal had declined to grant an interim stay on the implementation of Adani Groups resolution plan despite objections raised by Vedanta which had argued that its bid was financially superiorNCLAT had taken up Vedantas appeal challenging the approval of Adanis Rs 14535 crore bid for JALMoreover Vedanta had contended that its offer carried a higher net present value NPV of Rs 12505 croreHowever the tribunal had clarified at the time that any steps taken under Adanis resolution plan would remain subject to the final outcome of Vedantas pleaJAL entered the insolvency process in June 2024 after defaulting on loans exceeding Rs 57000 croreWith the dismissal of Vedantas appeal the appellate tribunal has now cleared the way for the implementation of Adani Groups resolution plan for JaypeeIANS https://dailyworld.in/business/adani-groups-jaypee-plan-gets-nclat-nod-vedanta-plea-dismissed-672075.html Mon, 04 May 2026 12:34:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-slide-as-trump-signals-easing-us-iran-tensions-672076.html Mumbai May 4 IANS Gold and silver prices declined up to 1 per cent on Monday amid signs of easing geopolitical tensions between the US and Iran following remarks by US President Donald TrumpnbspOn the Multi Commodity Exchange MCX gold contracts for June 5 opened at Rs 151150 down Rs 382 or 025 per cent from the previous close of Rs 151532At around 1130 am gold was trading at Rs 150623 lower by Rs 729 or 048 per cent The yellow metal touched an intraday low of Rs 150400 a decline of 062 per cent or Rs 952 and an intraday high of Rs 151347On the other hand silver contracts for July 3 opened at Rs 250699 down Rs 238 or 009 per cent compared to the previous close of Rs 250937 The white metal was trading at Rs 249600 down Rs 1337 or 053 per centSo far in the session silver futures hit a low of Rs 249600 a decrease of 105 per cent or Rs 2599 and a high of Rs 251231Meanwhile in the international market both precious metals remained under pressure COMEX gold was down 055 per cent at 4619 per ounce while silver declined 048 per cent to 76065 per ounceA commodity market expert said gold prices extended last weeks decline hovering near onemonth lows as a stronger dollar and elevated crude oil prices weighed on sentimentThe expert further noted that while easing USIran tensions reduced some safehaven demand supply risks in the Strait of Hormuz continued to fuel inflation concerns prompting a cautiously hawkish stance from major central banks which also weighed on bullionUS President Donald Trump said the United States would initiate efforts to help vessels stranded in the Strait of Hormuz describing the move as a humanitarian gesture aimed at assisting neutral countries not involved in the ongoing USIran conflictAccording to Trump Washington would launch Project Freedom to guide the stranded ships and their crews safely through the routeHowever he warned that Iran would face a strong response if any threat emergedIn addition crude oil prices declined sharplyBrent crude fell 061 per cent to 10751 per barrel while US West Texas Intermediate WTI dropped 277 per cent to 9911 a barrelIANS https://dailyworld.in/business/gold-and-silver-prices-slide-as-trump-signals-easing-us-iran-tensions-672076.html Mon, 04 May 2026 12:41:00 +0530 https://dailyworld.in/business/rbi-irdai-not-in-favour-of-banks-insurers-entry-into-commodity-derivatives-sebi-chief-672132.html Mumbai May 4 IANS The Reserve Bank of India RBI and the Insurance Regulatory and Development Authority of India IRDAI are not in favour of allowing banks and insurance companies to participate in the commodity derivatives market Securities and Exchange Board of India SEBI Chairman Tuhin Kanta Pandey said on MondaynbspSpeaking on the sidelines of the IMC Capital Markets Conference at the NSE Pandey said both regulators have a valid rationale behind their stance and are not favourably inclined towards the segment at presentHe noted that insurance in particular is a longterm business and there are concerns about how commodity derivatives would align with such investment horizonsSEBI did not receive a positive response from the banking and insurance regulators during its engagements due to certain concerns surrounding the segment Pandey addedAlgorithms may move faster than human controls and digital platforms can become channels for fraud he said adding that nextgeneration AI tools while useful for identifying weaknesses can also exploit vulnerabilities at scale and speedOn the progress of CKYC 20 aimed at enabling a unified KYC system across the financial sector Pandey said the initiative is currently under developmentThe Central Registry of Securitisation Asset Reconstruction and Security Interest CERSAI is leading the effort with inputs from various regulatorsSEBI recently held discussions with CERSAI to identify key issues that need to be addressed and expressed hope that a framework for CKYC 20 could be ready by the end of JulyMeanwhile last month speaking at the IMFWorld Bank Spring Meetings during an interaction organised by the Confederation of Indian Industry CII and the USIndia Business Council Pandey said that Indias capital markets are increasingly being recognised as a stable resilient and globally competitive destination for longterm investmentsIndian markets have evolved into a structural pillar of the financial system backed by strong macroeconomic fundamentals and a steadily expanding investor base he said on April 17IANS https://dailyworld.in/business/rbi-irdai-not-in-favour-of-banks-insurers-entry-into-commodity-derivatives-sebi-chief-672132.html Mon, 04 May 2026 14:06:00 +0530 https://dailyworld.in/business/sensex-nifty-surge-1-pc-in-early-trade-over-de-escalation-hopes-assembly-poll-result-trends-672133.html Mumbai May 4 Indian equity benchmarks opened on a strong note on Monday with indices gaining 1 per cent each in the morning trade aided by softer crude oil prices amid indications of easing tensions in West Asia amid early Assembly election trends in key states Sensex surged as much as 833 points or 108 per cent to hit an intraday high of 7774679 in early deals while Nifty touched 2424585 up 250 points or 103 per centOn the sectoral front buying interest was seen across auto realty metal FMCG and energy stocks with Nifty Auto Nifty Realty Nifty Metal Nifty FMCG and Nifty Oil amp Gas indices gaining up to nearly 2 per centHowever some stocks remained under pressure with Kotak Mahindra Bank Dr Reddyâs Laboratories TCS Eternal ITC and Bharti Airtel among top losers on from the 50scrip basketUS President Donald Trump said the United States will initiate efforts to help vessels stranded in the Strait of Hormuz describing the move as a humanitarian gesture aimed at assisting neutral countries not involved in the ongoing USIsraeli conflict with IranTehran meanwhile said Washington has responded to its 14point peace proposal via Pakistan and that the reply is under review though Trump signalled it may not be acceptableBack home results of Assembly elections in four states including Tamil Nadu and West Bengal and one Union Territory are due during the session which could lend a nearterm sentimentdriven bias to markets particularly tracking West Bengal trendsAccording to market experts the underlying market direction will hinge on crude oil prices which remain sensitive to developments in West Asia Trumpâs remarks on facilitating safe passage through the Strait of Hormuz have already weighed on oil pricesBrent crude fell 66 cents or 061 per cent to 10751 per barrel while US West Texas Intermediate WTI declined 283 or 277 per cent to 9911 a barrelIn global equities Asian markets traded higher with Japanâs Nikkei Hong Kongâs Hang Seng and South Koreaâs KOSPI rising up to 4 per cent IANS https://dailyworld.in/business/sensex-nifty-surge-1-pc-in-early-trade-over-de-escalation-hopes-assembly-poll-result-trends-672133.html Mon, 04 May 2026 14:07:00 +0530 https://dailyworld.in/business/sebi-chief-rbi-irdai-oppose-banks-insurers-in-commodity-derivatives-672134.html Mumbai May 4 IANS The Reserve Bank of India RBI and the Insurance Regulatory and Development Authority of India IRDAI are not in favour of allowing banks and insurance companies to participate in the commodity derivatives market Securities and Exchange Board of India SEBI Chairman Tuhin Kanta Pandey said on MondaynbspSpeaking on the sidelines of the IMC Capital Markets Conference at the NSE Pandey said both regulators have a valid rationale behind their stance and are not favourably inclined towards the segment at presentHe noted that insurance in particular is a longterm business and there are concerns about how commodity derivatives would align with such investment horizonsSEBI did not receive a positive response from the banking and insurance regulators during its engagements due to certain concerns surrounding the segment Pandey addedAlgorithms may move faster than human controls and digital platforms can become channels for fraud he said adding that nextgeneration AI tools while useful for identifying weaknesses can also exploit vulnerabilities at scale and speedOn the progress of CKYC 20 aimed at enabling a unified KYC system across the financial sector Pandey said the initiative is currently under developmentThe Central Registry of Securitisation Asset Reconstruction and Security Interest CERSAI is leading the effort with inputs from various regulatorsSEBI recently held discussions with CERSAI to identify key issues that need to be addressed and expressed hope that a framework for CKYC 20 could be ready by the end of JulyMeanwhile last month speaking at the IMFWorld Bank Spring Meetings during an interaction organised by the Confederation of Indian Industry CII and the USIndia Business Council Pandey said that Indias capital markets are increasingly being recognised as a stable resilient and globally competitive destination for longterm investmentsIndian markets have evolved into a structural pillar of the financial system backed by strong macroeconomic fundamentals and a steadily expanding investor base he said on April 17IANS https://dailyworld.in/business/sebi-chief-rbi-irdai-oppose-banks-insurers-in-commodity-derivatives-672134.html Mon, 04 May 2026 14:09:00 +0530 https://dailyworld.in/business/adani-groups-jaypee-plan-gets-nclat-nod-vedanta-plea-dismissed-672152.html New Delhi May 4 Adani Groups resolution plan for Jaiprakash Associates Limited JAL has received approval from the National Company Law Appellate Tribunal NCLAT which dismissed Vedantaâs appeal challenging the process A Bench comprising Chairperson Justice Retd Ashok Bhushan and Technical Member Barun Mitra upheld the earlier order of the National Company Law Tribunal NCLT and said there were no grounds to interfere with the decision of the adjudicating authorityThe tribunal also held that the Committee of Creditors CoC was justified in rejecting Vedantaâs resolution planNCLAT observed that the CoCâs decision taken in its 24th meeting on November 14 2025 to not consider the addendum was neither invalid nor untenableIt further noted that no material irregularity had been committed in the resolution plan and upheld the commercial wisdom of the CoC effectively validating the processWe do not find any ground to interfere with the order passed by the adjudicating authority the tribunal saidJaiprakash Associates Limited JAL was admitted into the corporate insolvency resolution process by the Allahabad Bench of the NCLT on June 3 2024Earlier the appellate tribunal had declined to grant an interim stay on the implementation of Adani Groupâs resolution plan despite objections raised by Vedanta which had argued that its bid was financially superiorNCLAT had taken up Vedantaâs appeal challenging the approval of Adaniâs Rs 14535 crore bid for JALMoreover Vedanta had contended that its offer carried a higher net present value NPV of Rs 12505 croreHowever the tribunal had clarified at the time that any steps taken under Adaniâs resolution plan would remain subject to the final outcome of Vedantaâs pleaJAL entered the insolvency process in June 2024 after defaulting on loans exceeding Rs 57000 croreWith the dismissal of Vedantaâs appeal the appellate tribunal has now cleared the way for the implementation of Adani Groups resolution plan for Jaypee IANS https://dailyworld.in/business/adani-groups-jaypee-plan-gets-nclat-nod-vedanta-plea-dismissed-672152.html Mon, 04 May 2026 14:24:00 +0530 https://dailyworld.in/business/india-outpaces-china-draws-strong-global-inflows-report-672171.html New Delhi May 4 India has outperformed China in attracting strong global capital flows even as global equity markets rebounded in April after a decline in March according to a report According to an analysis of Quant Mutual Fund the recovery in global markets was driven by easing geopolitical tensions and improved investor sentiment The report noted that Indiaâs nominal GDP growth continues to outpace Chinas positioning it as a preferred destination for global investorsIt added that the recent correction in Indian equities particularly in the smallcap segment appears to have largely run its course with improving corporate earnings expected to support further growthIndiaâs stable fiscal and monetary environment along with supportive liquidity conditions is likely to aid credit expansion and strengthen the outlook for financial servicesThe current phase could present a favourable entry point for investors with portfolios tilted towards largecap stocks and selective exposure to mid and smallcap segmentsPreferred sectors include energy infrastructure financials telecom pharmaceuticals and data centres while manufacturing remains underweight due to input cost and supply chain concernsOn the global front the US Federal Reserve kept interest rates unchangedUS equities rose about 9 per cent during the month while Nifty gained 67 per cent outperforming most major markets Chinaâs Shanghai index rose 56 per cent while Japanâs Nikkei 225 surged 116 per centA ceasefire agreement involving the US Israel and Iran on April 8 later extended indefinitely helped stabilise sentiment although a US naval blockade of Iranian ports remained in place the report saidIn commodities gold and silver prices declined by up to nearly 4 per cent during April while Brent crude rose about 8 per centBetween February 27 and April 30 the Nifty declined 1181 points or 47 per cent from 2517865 to 2399755However in April alone the index gained nearly 1318 points or around 6 per cent rising from 2267940 to 2399755In March IANS https://dailyworld.in/business/india-outpaces-china-draws-strong-global-inflows-report-672171.html Mon, 04 May 2026 14:44:00 +0530 https://dailyworld.in/business/indias-air-traffic-dips-in-april-amid-disruptions-due-to-middle-east-crisis-672175.html New Delhi May 4 Indias air traffic registered a sequential slowdown in April compared to March for both domestic and international passengers according to data compiled by the Ministry of Civil Aviation The downturn comes in the backdrop of the Middle East conflict which led to sharp decline in international flightsDomestic air traffic stood at 1408 lakh passengers which represents a 4 per cent drop yearonyear as well as monthonmonth International traffic saw a sharper decline of 20 per cent in April compared to March as the number of air passengers fell to 283 lakh passengersMeanwhile the UAE General Civil Aviation Authority announced full resumption of normal air navigation operations within the UAE airspace and the lifting of temporary precautionary measures on Saturday Consequently Indian and the UAE carriers have started operating more flights from the UAE to various destinations in India according to a statement issued by the Ministry of External AffairsThe overall flight situation in the Middle East continues to improve with additional flights operating from the region to various destinations in IndiaFlights continue to operate from various airports in Saudi Arabia and Oman to various destinations in India Qatar airspace is partially open Air India Air India Express Indigo and Qatar Airways are operating flights from Qatar to various destinations in IndiaKuwait airspace is open Jazeera Airways and Kuwait Airways are operating flights from Kuwait to India Similarly Bahrain airspace is open Air India Express Indigo and Gulf Air are operating flights from Bahrain to various destinations in IndiaIraq airspace is open for limited flight operations to destinations in the region which can be used for onward travel to IndiaIran airspace is also partially open for cargo and chartered flights The Ministry has advised Indian nationals to avoid travelling to Iran and urged those already there to leave via land border routes with our Embassyâs support So far the Indian Embassy in Tehran has facilitated movement of 2504 Indian nationals out of Iran through land border routes the statement saidIsrael airspace is open and limited flight operations have resumed to destinations in the region which can be used for onward travel to India the statement said IANS https://dailyworld.in/business/indias-air-traffic-dips-in-april-amid-disruptions-due-to-middle-east-crisis-672175.html Mon, 04 May 2026 14:48:00 +0530 https://dailyworld.in/business/google-opens-applications-for-third-google-play-accelerator-india-cohort-672180.html New Delhi May 4 IANS US tech giant Google on Monday announced that it opened applications for the third cohort of its Google Play Accelerator India a threemonth equityfree program to support AIpowered apps and games startups across IndianbspAs many as 20 Indiabased startups between Seed and Series A stages with a published app on the Google Play Store will be selected for the cohort beginning in July 2026 the release from Google saidThey must also use artificial intelligence and machine learning in a core capacity to build products for Indian and global users in order to be eligible for the programThrough the program Google aims to help highpotential startups improve app quality scale AIled innovation and accelerate business growth by providing access to its technology expertise and global network the release saidThe program offers a 12week curriculum covering app quality growth design data safety and global expansionEach selected startup is paired with a dedicated Google Startup Success Manager and receives access to mentorship sessions technical audits and custom reports on app performance and security Past cohorts have logged over 300 hours of mentoring across participating companiesIndias developer ecosystem is building some of the most innovative AIfirst applications for users at scale said Paul Ravindranath Regional Lead Developer Relations Startup and Expert Programs GoogleWith Google Play Accelerator India we are focused on helping startups strengthen app quality integrate advanced AI capabilities and unlock new growth opportunities both in India and globally Paul addedThe program runs as a hybrid an intensive inperson bootcamp in the first week followed by two months of virtual mentorship and ondemand sessions It concludes with an inperson Demo Day in November 2026 where startups present to Google teams investors media and ecosystem stakeholdersAlumni from previous cohorts have used the programme to ship measurable product improvements the statement saidIANS https://dailyworld.in/business/google-opens-applications-for-third-google-play-accelerator-india-cohort-672180.html Mon, 04 May 2026 15:17:00 +0530 https://dailyworld.in/business/india-to-get-ai-powered-orbital-data-centre-satellite-by-pixxel-sarvam-672183.html New Delhi May 4 India is set to get an AIpowered orbital data centre satellite with spacetech firm Pixxel partnering with AI startup Sarvam to develop the countryâs first such system it was announced on Monday After the partnership Pixxel will design build launch and operate the Pathfinder satellite while Sarvam will provide the artificial intelligence backbone enabling both training and inference directly in orbit through fullstack language models running onboard the company saidThe Pathfinder a 200kg class satellite expected to reach orbit as early as the fourth quarter of 2026 underscores the companiesâ push to rapidly advance spacebased computing capabilitiesUnlike conventional satellite systems that rely on lowpower processors the Pathfinder will host datacentergrade GPUs similar to those used in terrestrial AI infrastructure allowing highperformance computing directly in spaceThe satellite will also carry Pixxels flagship hyperspectral imaging camera making it among the first in the world capable of capturing highresolution hyperspectral data and analysing it in orbit using advanced AI modelsThis would eliminate the need to transmit large volumes of raw data back to Earth enabling realtime insights faster decisionmaking and applications across environmental monitoring resource management and infrastructure trackingPixxel CEO Awais Ahmed said orbital data centres represent a new frontier as groundbased infrastructure faces constraints related to energy land and scalability He added that spacebased computing powered by solar energy and located closer to data sources can overcome many of these limitationsSarvam CEO Pratyush Kumar said the partnership extends the companyâs sovereign AI platform beyond terrestrial systems into space enabling Indiabuilt AI models to operate independently of foreign cloud infrastructure He emphasised that building indigenous intelligence systems in orbit is key to technological sovereigntyThe mission will also test realtime AI inference power management thermal performance and data workflows in the harsh space environment laying the foundation for future orbital data centre systemsThe satellite will be developed at Pixxelâs upcoming Gigapixxel facility which is designed to scale production to up to 100 satellites IANS https://dailyworld.in/business/india-to-get-ai-powered-orbital-data-centre-satellite-by-pixxel-sarvam-672183.html Mon, 04 May 2026 15:25:00 +0530 https://dailyworld.in/business/ather-energys-q4-loss-widens-sequentially-to-rs-10023-crore-672190.html Mumbai May 4 Electric twowheeler maker Ather Energy on Monday reported a sequential increase in its net loss for the fourth quarter of FY26 even as the company posted strong revenue growth and improved yearonyear performance The companyâs net loss widened to Rs 10023 crore in the JanuaryâMarch quarter Q4 FY26 compared to Rs 8464 crore in the preceding December quarter Q3 FY26 according to its stock exchange filingHowever on a yearly basis the loss narrowed significantly by 57 per cent from Rs 23436 crore in the same period previous financial year Q4 FY25Revenue from core operations surged 74 per cent yearonyear YoY to Rs 117466 crore in Q4 up from Rs 676 crore in the corresponding quarter of the previous financial year driven by strong demand and expansion of its service networkThe company said its performance was supported by fundamental growth factors and increased market reachTotal expenses during the quarter rose 42 per cent to Rs 1314 crore compared to Rs 92215 crore a year earlier as per its regulatory filingDespite higher costs loss per equity share improved to Rs 262 from Rs 893 in the yearago periodThe EV maker continued to expand its physical and charging infrastructure during the fiscalIn April 2026 the company said it had doubled its Experience Centres to over 700 across India in FY26 in line with its expansion targetsIt also strengthened its charging ecosystem offering access to more than 5000 public chargers across over 395 cities including more than 3675 fast chargers operated directly by the company in key urban marketsFollowing the earnings announcement Ather Energyâs shares were trading 187 per cent lower at Rs 91740 on the NSE during the lastleg session on Monday compared to the previous close of Rs 93485 IANS https://dailyworld.in/business/ather-energys-q4-loss-widens-sequentially-to-rs-10023-crore-672190.html Mon, 04 May 2026 15:35:00 +0530 https://dailyworld.in/business/diversified-incomes-irrigation-to-shield-indias-agri-sector-from-el-nio-report-672197.html New Delhi May 4 IANS Indias agriculture sector is better protected from the impact of El Niño this year owing to several factors such as diversified income sources and improved irrigation coverage a report has saidnbspThe report by Elara Capital noted that while concerns over El Niños effect on agricultural output inflation and rural demand remain valid structural changes in rural India have significantly weakened its transmission to farm growth and incomesMoreover factors such as expanded irrigation coverage crop and income diversification higher minimum support prices MSP improved credit penetration and rising nonfarm rural earnings have collectively strengthened resilience in the farm sector it saidReservoir levels across rural India remain supportive aided by two consecutive years of abovenormal monsoon rainfall which is expected to cushion any nearterm weatherrelated shocksThe timing of a potential strong El Niño event likely to peak after the main sowing season may also limit damage to summer cropsThe National Oceanic and Atmospheric Administration NOAA has assigned up to a 70 per cent probability of El Niño developing between June and August 2026 with a oneinfour chance of it turning into a strong event lasting through the end of the yearMeanwhile the India Meteorological Department IMD has forecast monsoon rainfall at 92 per cent of the longperiod average LPA with a 35 per cent probability of rainfall falling below 90 per cent of LPAThe report highlighted that the historical relationship between El Niño events and agricultural gross value added GVA has weakened over timenbspWhile most El Niño episodes between 1982 and 2002 negatively impacted farm growth only a handful of instances since 2004 have shown similar effects despite comparable rainfall shortfalls it addedRural income diversification has further reduced vulnerability with agriculture now contributing roughly onethird of household income supplemented by wages nonfarm businesses salaried employment and livestock earningsThe report also flagged rising use of gold loans in rural and semiurban areas as a financial buffer helping households manage liquidity during periods of stressCrucially past El Niño episodes have not significantly dented rural demand with sectors such as twowheelers fertilisers and fastmoving consumer goods FMCG showing resilience during such periodsEl Niño is a periodic climate pattern that typically brings weaker monsoon rains to countries such as India while triggering heavy rainfall in parts of South AmericaIANS https://dailyworld.in/business/diversified-incomes-irrigation-to-shield-indias-agri-sector-from-el-nio-report-672197.html Mon, 04 May 2026 15:47:00 +0530 https://dailyworld.in/business/ambuja-cements-clocks-record-quarterly-revenue-of-rs-10-915-crore-in-jan-march-672213.html Ahmedabad May 4 Ambuja Cements Limited part of the Adani Group portfolio on Monday reported a robust financial performance for the quarter and financial year ended March 31 achieving its highestever quarterly revenue of Rs 10915 crore and marking a 9 per cent yearonyear YoY growth The cement major also recorded its highestever quarterly sales volume at 199 million tonnes up 10 per cent compared to the same period previous fiscal year according to its stock exchange filingOperating EBITDA for the quarter stood at Rs 1464 crore with a margin of 134 per cent while EBITDA per million tonne was reported at Rs 735The company maintained its strong balance sheet position remaining debtfree and announced a dividend of Rs 2 per equity shareVinod Bahety Whole Time Director and CEO Ambuja Cements Limited said âFY26 has been year of resilience for the Cement sector which has witnessed consolidation GST 20 reforms on one side while adverse weather conditions global geopolitical factors and state elections affected some or the other wayââAgainst this backdrop Ambuja Cements delivered a resilient performance for the yearâ he addedDuring the quarter Ambuja Cements completed the amalgamation of Sanghi and Penna Cement businesses with Sanghi Cement getting delisted from stock exchanges effective April 6 2026Meanwhile ACC and Orient Cement have filed applications with stock exchanges and are awaiting regulatory approvalsOn the operational front the company commissioned a 3 MTPA clinker line at Jodhpur and initiated trial runs for a 12 MTPA grinding unit at DahejIts focus on sustainability also strengthened with the share of green power rising to 32 per cent in Q4 from 26 per cent a year ago as per its regulatory filingHowever the quarter was not without challenges The company flagged cost pressures arising from fuel prices diesel costs packaging constraints and rupee depreciation largely driven by the ongoing West Asia conflictThese pressures are expected to persist into the first half of FY27 In response Ambuja is intensifying costcontrol measures including optimising fuel mix increasing renewable energy usage and improving logistics efficiency through rail and sea transportAmbujaâs financial strength remained intact with a net worth of Rs 71846 crore and cash reserves of Rs 1770 crore backed by toptier AAAA1 credit ratings from CRISIL and CAREâWe remain focused on stabilising new capacities strengthening operating efficiency and improving asset utilisation supported by a debtâfree balance sheet strong liquidity and the highest credit ratingsâ Bahety stated IANS https://dailyworld.in/business/ambuja-cements-clocks-record-quarterly-revenue-of-rs-10-915-crore-in-jan-march-672213.html Mon, 04 May 2026 16:33:00 +0530 https://dailyworld.in/business/sebi-mulls-advisory-on-risks-from-next-gen-ai-tools-672221.html Mumbai May 4 IANS Securities and Exchange Board of India SEBI Chairman Tuhin Kanta Pandey said on Monday that the market regulator will shortly issue an initial advisory on risks from nextgeneration artificial intelligence models and AIled vulnerabilityscanning toolsnbspSpeaking at the IMC Chamber of Commerce and Industry Capital Markets Conference here Pandey said rapid technological advances in AI were reshaping capital markets by improving efficiency while creating new systemic vulnerabilitiesPandey warned about increasing instances of sophisticated AI systems used to scan financial infrastructure for weaknesses While these tools can help identify weaknesses faster they can also exploit vulnerabilities at speed and scale he said adding that the risk management has become more difficult for regulators and market participantsSEBI Chairman highlighted that the tightly connected nature of modern markets has magnified the threatHe said technologyrelated risks should not be treated only at the individualentity level because a single weak link can pose wider market risksRegulated entities have been endowed with the responsibility to manage these risks he said urging them to proactively strengthen cyber resilience implement continuous monitoring systems and ensure faster remediation when vulnerabilities are identifiedPandy stressed on preparedness and response adding that the advisory will sit within SEBIs broader framework of responsible innovation rather than as a restriction on technology adoptionSEBI will place the document as an early supervisory signal and remain in active engagement with market participants and stakeholders on emerging technology risksThe regulator has neither specified a timeline for the advisory nor indicated if it will be entityspecific or sectorwideSEBIs broader push for optimum and riskbased regulation has recently gained attention and the regulator maintained that innovation had played a key role in deepening markets through digital onboarding faster settlement cycles and new financial productsIANS https://dailyworld.in/business/sebi-mulls-advisory-on-risks-from-next-gen-ai-tools-672221.html Mon, 04 May 2026 17:24:00 +0530 https://dailyworld.in/business/sensex-nifty-end-higher-amid-election-volatility-672226.html Mumbai May 4 Indian equity benchmarks ended higher on Monday but pared early gains to close off the dayâs highs as weakness in IT and banking stocks weighed on sentiment amid volatility linked to ongoing election results The Sensex rose 356 points or 046 per cent to settle at 7726940 while the Nifty gained 12175 points or 051 per cent to close at 2411930Commenting on Nifty technical outlook experts said that from a derivatives perspective the structure remains clearly definedâStrong put writing at the 24000 and 23800 levels indicates firm nearterm support while heavy call writing at 24200â24300 continues to cap the upsideâ an analyst statedAdani Ports led the gainer pack on Sensex followed by Hindustan Unilever Eternal and Maruti Suzuki IndiaOn the other hand Bharti Airtel Kotak Mahindra Bank TCS IndiGO ITC and Infosys were among the top losers on the same indexBroader markets outperformed the frontline indices with the Nifty MidCap and Nifty SmallCap indices rising 063 per cent and 070 per cent respectivelyOn the sectoral front realty and metal stocks led the gains while IT and PSU banking stocks lagged behind capping the upside in benchmark indicesMeanwhile global cues remained mixed as oil prices saw a sharp decline during the sessionBrent crude dropped as much as 245 per cent after US President Donald Trump announced âOperation Freedomâ aimed at ensuring safe passage for stranded ships in the Strait of HormuzThe May contract of Brent crude was last seen trading 039 per cent lower at 10775 per barrel on the Intercontinental ExchangeAnalysts said markets may continue to remain volatile in the near term as investors react to evolving political developments and global macroeconomic cuesâGoing forward the market is likely to remain rangebound with a buy on dips sell on rise approach dominating in the near termâ a market expert mentionedâInvestor sentiment remained supported by a favourable election outcome in West Bengal and a betterthanexpected Q4 earnings helping markets look past Middle Eastrelated concernsâ as per the analyst IANS https://dailyworld.in/business/sensex-nifty-end-higher-amid-election-volatility-672226.html Mon, 04 May 2026 17:31:00 +0530 https://dailyworld.in/business/sensex-nifty-end-higher-amid-election-results-volatility-672227.html Mumbai May 4 Indian equity benchmarks ended higher on Monday but pared early gains to close off the dayâs highs as weakness in IT and banking stocks weighed on sentiment amid volatility linked to ongoing election results The Sensex rose 356 points or 046 per cent to settle at 7726940 while the Nifty gained 12175 points or 051 per cent to close at 2411930Commenting on Nifty technical outlook experts said that from a derivatives perspective the structure remains clearly definedâStrong put writing at the 24000 and 23800 levels indicates firm nearterm support while heavy call writing at 24200â24300 continues to cap the upsideâ an analyst statedAdani Ports led the gainer pack on Sensex followed by Hindustan Unilever Eternal and Maruti Suzuki IndiaOn the other hand Bharti Airtel Kotak Mahindra Bank TCS IndiGO ITC and Infosys were among the top losers on the same indexBroader markets outperformed the frontline indices with the Nifty MidCap and Nifty SmallCap indices rising 063 per cent and 070 per cent respectivelyOn the sectoral front realty and metal stocks led the gains while IT and PSU banking stocks lagged behind capping the upside in benchmark indicesMeanwhile global cues remained mixed as oil prices saw a sharp decline during the sessionBrent crude dropped as much as 245 per cent after US President Donald Trump announced âOperation Freedomâ aimed at ensuring safe passage for stranded ships in the Strait of HormuzThe May contract of Brent crude was last seen trading 039 per cent lower at 10775 per barrel on the Intercontinental ExchangeAnalysts said markets may continue to remain volatile in the near term as investors react to evolving political developments and global macroeconomic cuesâGoing forward the market is likely to remain rangebound with a buy on dips sell on rise approach dominating in the near termâ a market expert mentionedâInvestor sentiment remained supported by a favourable election outcome in West Bengal and a betterthanexpected Q4 earnings helping markets look past Middle Eastrelated concernsâ as per the analyst IANS https://dailyworld.in/business/sensex-nifty-end-higher-amid-election-results-volatility-672227.html Mon, 04 May 2026 17:32:00 +0530 https://dailyworld.in/business/scindia-hails-new-gwalior-delhi-bengaluru-air-service-672234.html New Delhi May 4 Union Communications and Development of Northeastern Region Minister Jyotiraditya M Scindia said on Monday that the inauguration of the new GwaliorDelhiBengaluru air service by Akasa Air has given Gwalior a new flight of confidence growth and a bright future The service operated by Akasa Air will run flights between Bengaluru Delhi and Gwalior on three additional days a week according to a statement from ScindiaUntil now IndiGo flights operated only on Tuesday Thursday and Saturday With the new flights on Monday Wednesday and Friday Gwalior will now have air connectivity six days a weekâToday the first flight of Akasa Air took off from Gwalior Now our city is moving beyond its boundaries to connect directly with the countrys major economic and technological hubsâthis transformation will undoubtedly change the destiny of Gwaliorâ Union minister Scindia remarkedHe thanked the Union Minister of Civil Aviation Kinjarapu Rammohan Naidu for facilitating the air connectivity and congratulated his âfellow Gwalior residents on this new beginningâIn 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 regular services connecting Rajmata Vijayaraje Scindia Airport in Madhya Pradeshâs Gwalior with Delhi and Bengaluru will also provide fresh momentum to opportunities in trade industry education and employmentâOur resolve to connect the region to nationallevel 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/scindia-hails-new-gwalior-delhi-bengaluru-air-service-672234.html Mon, 04 May 2026 17:35:00 +0530 https://dailyworld.in/business/china-backed-hackers-hit-asian-govts-defence-sectors-nato-countries-report-672004.html New Delhi May 2 Chinaaligned hackers have targeted government and defence sectors across South East and Southeast Asia along with a NATO member in Europe in a fresh cyber espionage campaign a report has claimed A report by The Hacker News highlighted that the activity has been attributed to a threat cluster tracked as SHADOWEARTH053 which researchers assess has been active since at least December 2024 and shares overlaps with previously identified groups such as Earth Alux and REF7707The campaign primarily exploits known vulnerabilities in internetfacing Microsoft Exchange Server and Internet Information Services IIS systems to breach unpatched networks it saidIt further highlighted that security researchers stated that the group exploits Nday vulnerabilities in internetfacing Microsoft Exchange and IIS servers then deploys web shells for persistent access and stages ShadowPad implantsCountries targeted include India Thailand Malaysia Myanmar Sri Lanka Taiwan and Pakistan while Poland was identified as the only European nation affectedThe attackers deploy web shells such as Godzilla to maintain remote access and later install the ShadowPad malware using DLL sideloading techniques often leveraging legitimate signed executables to evade detectionThe report noted that the intrusions begin with the exploitation of security flaws to gain initial access followed by reconnaissance and lateral movement using tools such as Mimikatz and custom remote desktop protocol launchersIn some cases the campaign also involved the exploitation of a vulnerability dubbed React2Shell to distribute a Linux variant of Noodle RAT a remote access trojanThe attack chain has been linked by other researchers to a group known as UNC6595The report noted overlaps with another intrusion set SHADOWEARTH054 with nearly half of the observed targets particularly in Malaysia Sri Lanka and Myanmar â previously compromised though no direct operational coordination has been confirmedTo evade detection and maintain persistence the attackers also used opensource tunnelling tools such as IOX GOST and Wstunnel along with packing utilities to conceal malicious binaries according to the reportTrend Micro advised organisations to prioritise patching of Microsoft Exchange and IIS systems and deploy intrusion prevention or web application firewall solutions where immediate updates are not feasibleMeanwhile researchers flagged phishing campaigns by two other Chinalinked groups dubbed GLITTER CARP and SEQUIN CARP targeting journalists and civil society groupsHowever the campaigns first detected in April and June 2025 impersonated journalists organisations and technology firms in phishing emails aimed at stealing credentials or gaining access to accounts IANS https://dailyworld.in/business/china-backed-hackers-hit-asian-govts-defence-sectors-nato-countries-report-672004.html Sat, 02 May 2026 17:43:00 +0530 https://dailyworld.in/business/chinas-bri-investment-in-bangladesh-brings-uneven-progress-amid-delays-rising-costs-report-672006.html BeijingDhaka May 2 Bangladeshs engagement with the Chinesefinanced Belt and Road Initiative BRI over the past decade has produced significant but uneven progress especially in transport and energy infrastructure with delays rising costs and selective project revisions limiting its impact a report stated According to a report in the international magazine The Diplomat under the BRI framework Bangladesh was expected to receive around 40 billion in Chinese investments from China 26 billion for independent projects and 14 billion for joint venture projects â but the majority of the funding is yet to materialiseMoreover it said despite Chinas massive investments and pledges to Bangladesh in 2016 only a fraction has been delivered so farâThe slow pace of project implementation coupled with growing costs of the projects has hindered Bangladeshs plans for rapid infrastructure development while bureaucratic bottlenecks risks of corruption and concerns about debt sustainability have affected the countrys decisionmaking the report statedCiting commentators the report said that the BRI projects in Bangladesh are viewed as part of a wider Chinese strategy through which China is seeking to expand its geopolitical and geostrategic influence in the Bay of Bengal in order to resolve the Malacca Dilemma build a twoocean bluewater navy and counter the influence of its opponents in the regionIn particular it said critics argue that China seeks to leverage Bangladeshâs infrastructure particularly its seaports to advance Beijingâs strategic interestsThe report stressed that although Bangladesh holds geostrategic value for China the importance should not be exaggeratedâIf the Strait of Malacca is closed China can use Pakistani and Myanmar seaports for the transportation of goods but Bangladesh can hardly serve as an alternative route If China ever sought to transport goods via Bangladeshi seaports it would have to cross Indian or Myanmar territory on the way Given the current conditions of SinoâIndian relations and the intense conflict in Myanmarâs Rakhine and Chin States which border Bangladesh this route is unprofitable risky and unviableâ it mentionedIn a potential SinoIndian conflict the report said Bangladeshâs territory holds strategic value for China However it said Dhakaâs muted and neutral stance during the 2020 ChinaâIndia tensions and the 2025 IndiaâPakistan conflict suggests it is unwilling to be drawn into a regional war that could threaten its securityThe report noted that âeven if China sought to use BRIlinked infrastructure in Bangladesh for military purposes it would be practically unfeasible for Beijingâ IANS https://dailyworld.in/business/chinas-bri-investment-in-bangladesh-brings-uneven-progress-amid-delays-rising-costs-report-672006.html Sat, 02 May 2026 18:36:00 +0530 https://dailyworld.in/business/writer-lyricist-prasoon-joshi-appointed-chairman-of-prasar-bharati-672015.html New Delhi May 2 The government on Saturday said it has appointed noted lyricist writer and communications expert Prasoon Joshi as the Chairman of Prasar Bharati According to a Ministry of Information and Broadcasting statement Joshi is a distinguished creative professional with wideranging contributions across literature advertising cinema and public communicationâMy heartfelt congratulations to Prasoon Joshi on his appointment as Chairman of the Prasar Bharati Board Prasoon is a rare creative spirit celebrated across the world in advertising literature art and cinema yet his heart beats unmistakably for Indiaâ said Union Minister of Information and Broadcasting Ashwini VaishnawâHis words carry the fragrance of our soil and his vision reflects the timeless essence of our culture Under his stewardship Prasar Bharati will discover renewed energy deeper purpose and a fresh creative voice My very best wishes to him for a memorable and meaningful tenure aheadâ said the ministerKnown for his impactful writing and deep cultural sensibility Joshi has played a significant role in shaping contemporary Indian media narratives His body of work spans acclaimed film lyrics advertising campaigns and socially resonant storytelling that connects with diverse audiences across the countryBefore this appointment Joshi served as Chairperson Central Board of Film Certification CBFC Mumbai since August 2017 where he contributed to strengthening film certification processes while engaging with stakeholders across the film industryHis tenure at CBFC reflected a balanced approach towards creative expression and regulatory responsibilityEarlier he had also served as CEO McCann World Group India and Chairman McCann World Group Asia Pacific a subsidiary of McCann Erickson He is also one of the Trustees of Indira Gandhi National Centre for Arts since 2016Established under the Prasar Bharati Broadcasting Corporation of India Act 1990 and operational since 1997 Prasar Bharati is Indiaâs statutory autonomous public service broadcaster IANS https://dailyworld.in/business/writer-lyricist-prasoon-joshi-appointed-chairman-of-prasar-bharati-672015.html Sat, 02 May 2026 18:43:00 +0530 https://dailyworld.in/business/cdsls-q4-net-profit-declines-20-pc-to-rs-80-crore-672016.html New Delhi May 2 Indiaâs largest depository Central Depository Services India Limited CDSL on Saturday reported a 20 per cent yearonyear decline in consolidated net profit for the March quarter in FY26 According to the companyâs exchange filing profit after tax PAT for the quarter stood at Rs 80 crore compared with Rs 100 crore in the yearago period On a standalone basis net profit fell 15 per cent to Rs 688 crore from Rs 808 crore a year earlierMeanwhile revenue from operations during the quarter rose 17 per cent to Rs 263 crore from Rs 224 crore in the corresponding period last yearEBITDA rose 67 per cent yearonyear to Rs 1168 crore from Rs 1094 crore while margins contracted to 444 per cent from 487 per cent a year earlierTotal income for the quarter stood at Rs 2684 crore up 49 per cent yearonyear from Rs 2558 crore though it declined 200 per cent sequentially from Rs 3356 crore in the December quarterFor the full year FY26 consolidated net profit declined 135 per cent to Rs 4551 crore from Rs 5263 crore in FY25Revenue from operations for the year increased nearly 6 per cent to Rs 1145 crore from Rs 1082 crore in the previous financial year while total income rose 33 per cent to Rs 1238 crore from Rs 1199 croreMoreover total expenses for the March quarter stood at Rs 164 crore On an annual basis expenses rose 23 per cent to Rs 6254 crore from Rs 5070 crore in FY25Apart from earnings the board of directors of CDSL has recommended a final dividend of Rs 1275 per equity share for FY26 subject to shareholder approval Earlier in FY25 the company had announced a dividend payout of Rs 1250 per shareCDSL is the largest depository in India by number of active demat accounts and caters to a majority of retail investors with leading discount brokersShares of CDSL on Thursday ended lower at Rs 1272 apiece down 263 per cent on the NSE IANS https://dailyworld.in/business/cdsls-q4-net-profit-declines-20-pc-to-rs-80-crore-672016.html Sat, 02 May 2026 18:45:00 +0530 https://dailyworld.in/business/gold-dips-081-pc-this-week-over-waning-hopes-of-fed-rate-cuts-671952.html New Delhi May 2 Gold prices dipped 081 per cent during the week as negotiations between the United States and Iran stalled denting hopes for nearâterm interestârate cuts On Friday MCX gold June futures gained 001 per cent while MCX silver May futures inched up 049 per cent Currently gold futures stand at Rs 151363 while silver futures stand at Rs 247500 per kgThe price of 10 grams of 24carat gold was at Rs 150263 on Thursday down from Rs 151495 seen on Monday market opening according to data published by the India Bullion and Jewellers Association IBJAIn international markets bullion dropped as much as 12 per cent on Friday after gaining 15 per cent in the previous session weighed down by rising energy costs and firmer Treasury yields Gold has fallen nearly 14 per cent since the USIran conflict began on February 28 2026 traders saidThe Iranian administration maintained that the US blockade would have to end before the Strait of Hormuz could be reopened according to multiple media reports Iranian state media said that Tehran had delivered a fresh proposal for talks to Pakistani mediators but both sides signalled they were waiting for the other to make the first moveWhile diplomatic engagements remained active the absence of a decisive breakthrough kept the geopolitical risk premium firmly embedded in prices an analyst saidUS inflation data showed the headline PCE price index at 35 per cent in March at its highest level in nearly three years reinforcing the view that policy rates may stay higher for longerAnalysts said that rising energy prices could lead to central banks maintaining interest rates higher for longer which would pressure nonyielding assets like goldCrude oil traded with heightened volatility through the week but retained a firm undertone holding near elevated levels as concerns around potential supply disruptions persisted The market continues to price in risks to global oil flows limiting meaningful downside and providing support on dipsPrecious metals entered a phase of corrective consolidation following their recent safehaven rally analysts saidGold and silver witnessed intermittent profit booking at higher levels through the week while selective buying interest emerged near key support zones Safehaven demand has eased marginally but continues to lend support on declines amid lingering uncertaintyCOMEX gold traded near the 4620â4650 zone and a major resistance is seen at the 4700â4760 levels Overall the trend remains constructive with a cautious nearterm bias with strength dependent on a breakout above resistanceCOMEX Silver is currently trading above 76 and the broader trend remains constructive but with a cautious nearterm bias market participants said IANS https://dailyworld.in/business/gold-dips-081-pc-this-week-over-waning-hopes-of-fed-rate-cuts-671952.html Sat, 02 May 2026 12:23:00 +0530 https://dailyworld.in/business/indias-domestic-fundamentals-strong-rising-public-debt-poses-global-risks-rbi-governor-671953.html New Delhi May 2 IANS The Reserve Bank of India RBI Governor Sanjay Malhotra said that Indias macroeconomic fundamentals remain robust despite geopolitical tensions and flagged risks from high public debt in major economiesnbspThe RBI Governor warned that continued fiscal expansion abroad together with rising defence spending amid geopolitical tensions could strain global fiscal sustainabilityHe cautioned that stretched valuations in some asset classes especially in the technology sector could pose broader risks for marketsSpeaking at the 25th FIMMDAPDAI Annual Conference in Amsterdam The Netherlands Malhotra said Indias macroeconomic fundamentals remained robust supported by strong consumption and sustained public investment despite macroeconomic headwinds from geopolitical tensionsThe governments focus on capital expenditure has helped crowd in private investment and expand productive capacity Malhotra saidThe RBI Governor said the disrupted supply chains and rising energy prices has already affected economic activityIf the crisis persists longer it may also translate into secondorder inflationary pressures Malhotra saidThe central bank will move ahead with efforts to deepen financial markets broaden participation and strengthen institutional frameworks as global uncertainty mounts he said adding financial markets in India had matured significantly due to policy efforts but required further progressWe will continue to deepen financial markets broaden participation and further strengthen institutional frameworks We will continue to strive for efficiency consumer protection fairness transparency and ethical conduct In this pursuit we will continue to assess and meet the emerging market needs he saidStressing on the role of data in policymaking Malhotra said trade repositories must enhance the quality and availability of data to enable better risk assessmentThe RBI Governor highlighted Indias recent growth performance saying the economy recorded an average growth of 82 per cent during 202125 and growth is estimated at 76 per cent in 202526He said that the growth is projected at 69 per cent for 202627 Further healthier corporate balance sheets due to improved earnings and robust fund raising through public markets over the last two fiscal years are other supporting factors he addedIANS https://dailyworld.in/business/indias-domestic-fundamentals-strong-rising-public-debt-poses-global-risks-rbi-governor-671953.html Sat, 02 May 2026 12:24:00 +0530 https://dailyworld.in/business/govt-tests-nationwide-mobile-emergency-alert-system-to-safeguard-citizens-671954.html New Delhi May 2 The government on Saturday tested indigenous mobile emergency alert system nationwide to safeguard its citizens when nature strikes The system called âCell Broadcast Alertâ is currently under panIndia testing in the form of a flash SMS message from the NDMA National Disaster Management AuthorityâNDMA will test Cell Broadcast Alerts on 2 May 2026 in your area On receiving the message on your mobile phone no action is required Please do not panicâ the notification readWhen the emergency alert arrived on Saturday it made the phone ring rather loudly with a sharp alarm tone and a flashing messageThe alerts were delivered by the indigenous Integrated Alert System SACHET which is developed by the Centre for Development of Telematics CDOTThe system is based on the Common Alerting Protocol CAP which is recommended by the International Telecommunication UnionThe system aims to deliver disaster and emergencyrelated alerts in situations such as tsunamis earthquakes lightning strikes and manmade emergencies like gas leaks or chemical hazards via SMS to mobile users within the targeted areasWhile the government has tested the system a few times in the past these alerts are currently being conducted to assess the systemâs performance and reliability prior to nationwide rollout of this systemThe test alerts were sent by NDMA which is the apex body for disaster management in India The test messages were received on mobile phones that have their Cell Broadcast test channels enabledYou can enable or disable alerts by navigating to Settings Safety and emergency Wireless emergency alerts Test alertsAfter the nationwide testing the mobile alert system will be operationalised across the country and will disseminate emergency alerts in multiple Indian languages across all mobile handsets IANS https://dailyworld.in/business/govt-tests-nationwide-mobile-emergency-alert-system-to-safeguard-citizens-671954.html Sat, 02 May 2026 12:25:00 +0530 https://dailyworld.in/business/2wheelers-retail-sales-jump-134-pc-in-fy26-drives-indias-demand-led-auto-recovery-671959.html New Delhi May 2 IANS Indias auto sector saw a demandled but uneven recovery in FY26 driven by urban market demand and premiumisation while rural demand saw some headwinds a new report has saidnbspThe report from Deloitte India said twowheelers led the recovery with wholesale volumes up 107 per cent yearonyear and retail sales rising 134 per centPassenger vehicles continued the premiumisation trend with midsize entry segments gaining share and traditional entrylevel segments getting weakenedCommercial vehicles entered a goodsled upcycle growing roughly 126 YoY supported by infrastructure activity and replacement demandEV adoption is accelerating but remains uneven with strong growth across segments but limited penetration due to cost economics and infrastructure gaps the report saidThe twowheeler market saw a strong shift to premium motorcycles up 407 per cent and stronger scooter demand up 185 per cent Electric twowheelers grew 218 per cent but overall EV penetration rose only modestly to 65 per cent as price and infrastructure gaps kept many buyers tied to internal combustion engine models the report addedIn EV adoption Kerala led with 141 per cent penetration Karnataka and Odisha showed deepening adoption while Maharashtras share declined to 92 per cent despite higher volumes as ICE demand reboundedFollowing pricing resets and effective GST rationalisation in H2 FY2026 affordability in the sub350cc motorcycles reduced prices meaningfully collapsing longstanding price gaps with commuter bikes the report saidEntrylevel demand remained under pressure in the overall automobile sector while urban markets anchored growth through premiumisation and featureled upgradesThe business advisory firm highlighted policy tailwinds shaping the mediumterm outlook such as the IndiaEU free trade agreement and new electric vehicle policy developmentsPassenger vehicles PV saw a disciplined wholesale recovery with strong retail growth as consumers traded up within familiar price bandsIANS https://dailyworld.in/business/2wheelers-retail-sales-jump-134-pc-in-fy26-drives-indias-demand-led-auto-recovery-671959.html Sat, 02 May 2026 12:49:00 +0530 https://dailyworld.in/business/loan-fraud-case-delhi-court-extends-anil-ambanis-former-aides-ed-custody-till-may-15-671965.html New Delhi May 2 IANS A Delhi court on Saturday extended the judicial custody of two former senior officials of the Anil Ambaniled Reliance Group Amitabh Jhunjhunwala and Amit Bapna until May 15 in connection with a money laundering probe linked to Reliance Home Finance Limited RHFLnbspThe Special Judge PMLA at the Rouse Avenue Courts allowed the Enforcement Directorate ED plea for custodial interrogation extending the custodyJhunjhunwala and Bapna were produced before the Rouse Avenue Court following the expiration of their judicial custody Jhunjhunwala was produced before the Court via video conferencing from jail due to his poor health The Court directed the jail authorities to submit a report regarding Jhunjhunwalas healthJhunjhunwala and Bapna close aides of industrialist Anil Ambani were arrested by the ED in an ongoing investigation under the Prevention of Money Laundering Act PMLA based on multiple Enforcement Case Information Reports ECIRs registered on the basis of cases filed by the Central Bureau of Investigation CBIThe case pertains to alleged financial irregularities involving group entities such as Reliance Home Finance Ltd RHFL and Reliance Commercial Finance Ltd RCFL where the two are suspected to have played key roles during their tenureJhunjhunwala who earlier served as Group Managing Director of the Reliance Group and Vice Chairman and Director of Reliance Capital Ltd is alleged to have been among the key decisionmakers in the functioning of RHFL and RCFL during the relevant period sources saidBapna who served as Chief Financial Officer of Reliance Capital Limited and Director of RHFL is also alleged to have been involved in financial decisions under scrutinyThe ED arrested the duo after finding their alleged involvement in the laundering of proceeds of crime linked to the suspected diversion and misuse of bank loan fundsEarlier the CBI registered a case against Reliance Communications Ltd RCom Anil Ambani unknown public servants and others on allegations of causing wrongful loss of Rs 3750 crore to Life Insurance Corporation LIC of IndiaAnil Ambani was earlier questioned by the CBI in connection with the matterMeanwhile the Anil Ambaniled Reliance Group said Jhunjhunwala and Bapna are no longer associated with the group and are not presently working with any of its companiesIn a statement the Anil Dhirubhai Ambani Group said Jhunjhunwala had left in December 2019 while Bapna exited in September 2019 and that neither has any current association with group companies including Reliance Infrastructure Limited and Reliance Power LimitedIANS https://dailyworld.in/business/loan-fraud-case-delhi-court-extends-anil-ambanis-former-aides-ed-custody-till-may-15-671965.html Sat, 02 May 2026 14:06:00 +0530 https://dailyworld.in/business/pm-modi-to-inaugurate-rs-1-695-crore-textile-park-in-warangal-on-may-10-671975.html New Delhi May 2 IANS Prime Minister Narendra Modi will inaugurate the PM MITRA Kakatiya Mega Textile Park in Warangal Telangana on May 10 Union Coal and Mines Minister G Kishan Reddy said on SaturdaynbspTaking to a microblogging platform X the minister said the park to be inaugurated virtually from Hyderabad is envisioned as a worldclass integrated textile hub that will boost manufacturing employment and exportsHe further highlighted that the project has an estimated cost of Rs 169554 crore with expected investments exceeding Rs 6000 crore of which over Rs 3800 crore has already been groundedSpread across 1327 acres the facility among the largest textile parks in the country and has been selected under the PM MITRA Pradhan Mantri Mega Integrated Textile Region and Apparel scheme as a brownfield projectThe park is aligned with the governments 5F vision spanning farm to fibre fibre to factory factory to fashion and fashion to foreign aimed at strengthening the textile value chainAccording to the minister about 62 per cent of the park area has already been allotted to anchor investors Internal infrastructure such as roads water supply and street lighting has been completedMoreover major utilities are nearing completion including a 23213233 KV power substation and a 220 KV transmission lineA 12 MLD water supply system is in advanced stages while Phase I of a 5 MLD common effluent treatment plant CETP with zero liquid discharge is under trial runThe project expected to generate more than 24400 jobs upon full operationalisation with around 2000 jobs already created the minister saidWith its strategic location plugandplay facilities and integrated ecosystem the Warangal textile park is set to become a major driver of textile manufacturing and employment in the country the minister saidHe further stated that the initiative has reflected the governments push to strengthen industrial infrastructure and position India as a global textile hubEarlier in March the government finalised the establishment of PM MITRA Parks at seven locations across the country like Virudhunagar in Tamil Nadu Warangal in Telangana Navsari in Gujarat Kalaburagi in Karnataka Dhar in Madhya Pradesh Lucknow in Uttar Pradesh and Amravati in MaharashtraIn the Union Budget for 202627 the government announced a separate scheme for setting up mega textile parks under a challenge mode frameworkIANS https://dailyworld.in/business/pm-modi-to-inaugurate-rs-1-695-crore-textile-park-in-warangal-on-may-10-671975.html Sat, 02 May 2026 15:35:00 +0530 https://dailyworld.in/business/smallcap-indian-stocks-show-strong-april-returns-despite-weak-macro-narrative-report-671980.html New Delhi May 2 Indian equities delivered robust returns across market segments in April with smaller companies leading the surge despite worsening macro indicators due to USIran conflict a report said on Saturday The report from OmniScience Capital said Nifty Smallcap 250 index delivered impressive 134 per cent returns while Nifty Microcap 250 delivered 162 per cent returns the report notedThe company said its âBharat Vectorsâ framework â covering about 1500 investible companies â showed the smallest marketâcap segments outperformedSelect 250 stocks with average market cap about 1500 crore and another 250 stocks with market cap around 3000 crore returned 252 per cent and 232 per cent respectively during the monthDespite persistent concerns around geopolitical tensions rising crude oil prices inflationary pressures currency depreciation and continued foreign institutional investor outflows Indian equities delivered robust returns across the market spectrum the report saidThe rally occurred despite worsening macro indicators reinforcing that equity markets are primarily driven by bottomup fundamentals over time it saidThe rally reflected a valuation reârating rather than an improvement in underlying business fundamentals the firm addedDr Vikas Gupta CEO and Chief Investment Strategist said the market is like a magician who distracts the investors using one hand pointing towards the macros while the real action is happening with fundamentals growth and mispricing delivering returnsReturn on equity RoE leverage and growth expectations remained largely unchanged across segments indicating no sudden improvement in underlying business performance Pricetoearnings PE and pricetobook PB multiples expanded significantly suggesting markets are aligning valuations with existing fundamental strength after a period of caution the report noted âAcross the spectrum the market looks investible as long as the investors focus on companies with low leverage high RoEs high growth outlook and attractive valuationsâ said Ashwini Shami President and Chief Portfolio Manager Foreign institutional investors remained persistent sellers with cumulative outflows of roughly Rs 175 lakh crore in CY26 so far including roughly Rs 44000 crore in April IANS https://dailyworld.in/business/smallcap-indian-stocks-show-strong-april-returns-despite-weak-macro-narrative-report-671980.html Sat, 02 May 2026 15:53:00 +0530 https://dailyworld.in/business/rohit-jain-named-rbi-deputy-governor-for-three-year-term-671984.html New Delhi May 2 IANS The government has appointed Rohit Jain as a deputy governor of the Reserve Bank of India according to an official notificationnbspJains appointment will take effect from May 3 and will be for a tenure of three years the notification saidHe is currently serving as an executive director at the central bankJain succeeds T Rabi Sankar who retired late last month His portfolio allocation as deputy governor is yet to be announcedThe appointment comes at a time when the central bank continues to focus on currency management and financial system stabilityMeanwhile RBI Governor Sanjay Malhotra speaking at the 25th FIMMDAPDAI Annual Conference in Amsterdam The Netherlands said Indias macroeconomic fundamentals remained strong because of consumption and sustained public investment despite macroeconomic headwinds from geopolitical tensionsThe RBI Governor warned that continued fiscal expansion abroad together with rising defence spending amid geopolitical tensions could strain global fiscal sustainability He cautioned that stretched valuations in some asset classes especially in the technology sector could pose broader risks for marketsThe governments focus on capital expenditure has helped crowd in private investment and expand productive capacity Malhotra saidThe RBI Governor said the disrupted supply chains and rising energy prices has already affected economic activityIf the crisis persists longer it may also translate into secondorder inflationary pressures Malhotra saidThe central bank will move ahead with efforts to deepen financial markets broaden participation and strengthen institutional frameworks as global uncertainty mounts he said adding financial markets in India had matured significantly due to policy efforts but required further progressIANS https://dailyworld.in/business/rohit-jain-named-rbi-deputy-governor-for-three-year-term-671984.html Sat, 02 May 2026 16:02:00 +0530 https://dailyworld.in/business/great-nicobar-project-means-strategic-depth-maritime-influence-for-india-report-671990.html New Delhi May 2 With the Great Nicobar Project India can convert locational advantage into economic leverage strategic depth and maritime influence according to a new report The island is remote the project is expensive and the execution risks are real But the underlying logic â that geography left dormant is geography surrendered â is sound writes Hans Kaufmann a distinguished economist specialising in global fiscal policy in India NarrativeAlso Great Nicobar does not âcontainâ China in a military sense â the distances and force ratios make that framing unrealisticWhat it does is give India persistent observation logistical depth and positional leverage near a sea lane that China depends on for economic survivalâIf India builds this right it will have made the most consequential maritime infrastructure decision since independence If it builds it carelessly it will have damaged an irreplaceable ecosystem in exchange for a halffunctional port The difference between those two outcomes is not ambition It is governanceâ he addsThe Great Nicobar Project work on which is underway aims to transform the Great Nicobar into a strategic maritime and economic hub by leveraging its proximity to the global EastâWest shipping route and reducing dependence on foreign transshipment ports keeping in view Indias defence and national security an official statement said on FridayThe project which will strengthen Indias strategic presence in the Andaman Sea and Southeast Asia seeks to balance portled economic growth with calibrated environmental safeguards and protection of indigenous communitiesAccording to the report the country sits astride the Indian Ocean commands one of the worldâs longest coastlines and yet for decades has quietly paid Singapore Colombo and Port Klang to handle freight that originates on Indian soilApproximately three million TEUs of Indian cargo are transshipped annually through foreign hubs with those three ports alone managing more than 85 percent of that flowThe lost annual port revenue is estimated at 200â220 millionâIndia has in effect been a subtenant in its own strategic neighbourhood The Greater Nicobar project is the first serious attempt to change that â and its ambitions extend well beyond shipping logisticsâ the report emphasisesNotably a functioning International Container Transshipment Terminal at Great Nicobar would allow India to capture freight revenue currently leaking abroad reduce feeder voyage times for Indian exporters and sharpen the competitiveness of Indian trade on the eastwest shipping corridorGovernment estimates project annual revenue potential of roughly 316 billion by 2040 against a total project outlay of 790â853 billionMoreover projections of 50000 jobs should be read as aspirational targets not guaranteed outcomes â but the macroeconomic logic underpinning the terminal is considerably more robust than a single employment figureâIndiaâs Maritime India Vision 2030 and the Sagarmala programme have both identified portled development as a structural priority Great Nicobar is where that ambition meets genuine geographic advantageâ says the report IANS https://dailyworld.in/business/great-nicobar-project-means-strategic-depth-maritime-influence-for-india-report-671990.html Sat, 02 May 2026 16:41:00 +0530 https://dailyworld.in/business/no-cause-for-panic-over-may-heat-forecast-follow-imd-forecasts-dr-jitendra-singh-671993.html New Delhi May 2 Union Minister of State for Science and Technology Dr Jitendra Singh said on Saturday that there is no cause for panic over predicted heat conditions in May and unwarranted reactions can be avoided by following weather forecasts and simple precautions Southern peninsular India parts of the northeast and northwest India may see aboveânormal temperatures and heatâwave conditions but most of the country is likely to experience normal to belowânormal temperatures during the month an official statement saidDr Singh urged citizens to stay hydrated avoid prolonged exposure during peak heat hours and remain attentive to the needs of vulnerable individuals in their surroundings He said that following IMDâs daily updates and impactbased forecasts will help minimise any potential health risksMinimum temperatures in several regions are also likely to remain above normal he added referring to the latest monthly outlook and extendedrange forecast issued by India Meteorological Department IMD Heat wave conditions can be effectively managed through timely preparedness and adherence to advisories issued he saidIMDs forecast indicated that heat wave conditions are expected over the Himalayan foothills parts of the east coast including Odisha Coastal Andhra Pradesh and adjoining Tamil Nadu as well as Gujarat and Maharashtra with an increase of about 24 heatwave days above normal in these regionsRelatively higher temperatures are expected during the second and the fourth weeks of May which may lead to heat wave conditions across parts of Northwest Central and West India along with the East CoastThe Minister said that higher nighttime temperatures during certain periods may add to heat discomfort particularly in urban and coastal areas Hot and humid weather conditions are also likely along the East Coast Gujarat and MaharashtraThe prevailing conditions remain generally favourable for harvesting of late Rabi crops in northern and northwestern regions the minister saidHowever localised heat stress in parts of southern and northeastern India may affect certain summer crops such as rice Boro maize and pulsesFarmers have been advised to carry out field operations during morning and evening hours ensure light and frequent irrigation and take protective measures for livestockThe minister said that the government is fully prepared to deal with heatrelated conditions He emphasized coordinated efforts at the state and district levels to ensure availability of drinking water functional cooling arrangements and uninterrupted power supply with special attention to vulnerable groups including infants the elderly and outdoor workers IANS https://dailyworld.in/business/no-cause-for-panic-over-may-heat-forecast-follow-imd-forecasts-dr-jitendra-singh-671993.html Sat, 02 May 2026 16:46:00 +0530 https://dailyworld.in/business/596-lakh-png-connections-gasified-infrastructure-created-for-additional-268-lakh-connections-centre-671995.html New Delhi May 2 IANS About 596 lakh PNG connections have been gasified and infrastructure has been created for additional 268 lakh connections taking the total to 864 lakh connections the government said on SaturdaynbspFurther about 666 lakh customers have been registered for new connections Till May 1 more than 43350 PNG consumers have surrendered their LPG connections informed Petroleum MinistrySince April 2026 more than 2278 lakh 5Kg FTL cylinders have been soldSince April 3 PSU OMCs have organised more than 9980 awareness camps for 5Kg FTL Cylinders wherein more than 171000 5Kg FTL cylinders were also sold said the ministrySince April 2026 a total of 205849 MT equivalent to more than 10834 lakh of 19Kg LPG cylinders of Commercial LPG has been sold Since last month a total of 10698 MT of Auto LPG has been sold by PSU OMCsThe overall gas allocation to fertiliser plants has been enhanced to approximately 98 per cent of their sixmonth average consumptionAll refineries are operating at high capacity with adequate crude inventories while sufficient stocks of petrol and diesel are being maintainedDomestic LPG production from refineries has been increased to support domestic consumptionMoreover an interministerial Joint Working Group JWG has been set up to ensure availability of petrochemical feedstock supply for the domestic marketSince April 9 2026 more than 10000 MT of propylene and more than 1200 MT of Butyl Acrylate has been sold by Mumbai Kochi Vizag Chennai Mathura and Gujarat refineries to Chemical Pharma and Paint IndustryOn fuel the government said all retail outlets are operating normally across the countryPanic buying is observed at certain retail outlets due to rumours It is informed that there are adequate stocks of petrol and diesel available at all Petrol Pumps in the country Regular Retail Prices for petrol and diesel are unchanged and there is no price increase at PSU OMCs retail outlets said the governmentIANS https://dailyworld.in/business/596-lakh-png-connections-gasified-infrastructure-created-for-additional-268-lakh-connections-centre-671995.html Sat, 02 May 2026 17:22:00 +0530 https://dailyworld.in/business/india-again-on-us-priority-watch-list-for-ip-rights-violations-671809.html Washington May 1 The United States has again placed India on its Priority Watch List for intellectual property concerns citing continued gaps in enforcement and longstanding issues in patent protection The designation came in the 2026 Special 301 Report released by the Office of the US Trade Representative USTR which reviews how trading partners protect and enforce intellectual property rightsIndia remains among six countries on the Priority Watch List alongside China Russia and IndonesiaThe report said India has taken some steps to strengthen its IP regime These include adding more examiners and improving awareness But it said progress remains unevenâIndia remains one of the worldâs most challenging major economies with respect to the protection and enforcement of IPâ the report saidPatent issues remain a key concern The report pointed to long delays in approvals It also cited âexcessive reporting requirementsâ and prolonged opposition proceduresThe USTR said restrictions on patentable subject matter especially in the pharmaceutical sector continue to affect companiesThe report also flagged concerns over the lack of an effective system to protect test data used to obtain marketing approval for drugs and agricultural chemicalsEnforcement remains weak it said Authorities face coordination gaps Penalties often do not deter violationsâIndiaâs overall IP enforcement remains inadequateâ the report saidHigh levels of piracy and counterfeiting continue The report cited illegal streaming software use and counterfeit goods as persistent problems Trademark enforcement also faces delays Companies report long backlogs in opposition cases and concerns over examination qualityThe report said India lacks a dedicated law on trade secrets Companies face difficulty protecting proprietary informationDespite the concerns the USTR noted some positive steps India amended patent rules in 2024 The changes aim to improve efficiency and reduce burdensThe US said it will continue to engage India through trade talks and the Trade Policy ForumâUsing all the enforcement tools we have to address unfair trade practices is a top priorityâ US Trade Representative Jamieson Greer saidâAmerican innovators creators and brand owners rely on robust IP protection and enforcementâ Ambassador Rick Switzer saidThe Special 301 Report is an annual review of intellectual property protection among US trading partnersCountries on the Priority Watch List face closer scrutiny and engagement from WashingtonIndiaâs inclusion reflects continuing differences between the two countries on intellectual property policy The issue has long featured in trade discussions especially in pharmaceuticals and digital sectors IANS https://dailyworld.in/business/india-again-on-us-priority-watch-list-for-ip-rights-violations-671809.html Fri, 01 May 2026 08:57:00 +0530 https://dailyworld.in/business/gautam-adani-outlines-groups-growth-strategy-with-focus-on-local-jobs-better-lives-with-dignity-671840.html Ahmedabad May 1 Gautam Adani Chairman of the Adani Group on Friday outlined a growth strategy centred on worker welfare local employment and entrepreneurship as the conglomerate accelerates capital expenditure capex backed by strong liquidity Addressing the workforce across the Group on International Labour Day Gautam Adani said the organisation which operates more than 700 assets across 24 states and engages nearly 400000 employees partners and contractors will measure its progress by assets created livelihoods enabled and communities strengthened positioning its workforce at the core of nationbuildingâYou are not just employees you are nation builders When we complete a project we are not just delivering work we are shaping the future of the countryâ the billionaire industrialist saidThe Group will prioritise local hiring at project sites offering opportunities first to nearby communities then to candidates from within the state and finally from outside where requiredWorker welfare remains a central pillar of the strategy The infrastructure major is building airconditioned accommodation for 50000 workers in Mundra and Khavda along with a centralised cloud kitchen in Mundra Gujarat which will serve up to 100000 nutritious meals daily aimed at improving living standards at remote locationsâThis is not a privilege It is a necessity Every worker has the right to live and work with dignityâ Gautam Adani saidThe strategy is anchored in three pillars and supported by strong liquidity and access to capital enabling accelerated capex deployment and faster project execution A threelayer organisational structure is being implemented to speed up decisionmaking strengthen accountability and improve execution efficiency with sitelevel decisions expected to move from days to hours Gautam Adani said that as organisations grow larger decisionmaking often becomes slower and more layered and the threelayer model is designed to address this by simplifying structures reducing approval levels and improving speed and ownership at the site levelA strengthened partnership model will see the Group work with fewer larger contractors to improve coordination and execution speed while enabling them with access to capital assured returns and longterm engagementOn the Groupâs evolving approach to working with contractors Gautam Adani said âWe endeavour to work with a select group of strong and reliable partners who can take endtoend responsibility and deliver with greater speed and efficiency We donât just want to sign contracts we want to build longterm partnershipsâHe said this approach is already fostering grassroots entrepreneurship citing the example of Hadhubhai Rabari in Gujaratâs Kutch who grew from operating a single water tanker into a multiequipment enterprise supporting major projects and generating local employmentThe third pillar focuses on learning and development Through the upcoming Adani skills centre workers will progress from unskilled roles to skilled supervisory and leadership positions Gautam Adani highlighted the journey of Subbu who began as a worker and through continuous learning and skill development advanced to a corporate role reflecting the Groupâs focus on internal career growth and capability buildingLinking key projects including Mundra port the Khavda renewable energy park Navi Mumbai International Airport and the Ganga Expressway which was inaugurated earlier this week to national development Gautam Adani said these initiatives are strengthening Indiaâs logistics energy and infrastructure backboneâThese projects are not just assets They are instruments of national progressâ he saidThese pathbreaking measures are aimed at building a more agile inclusive and executionfocused organisation aligned with Indiaâs longterm growth ambitions IANS https://dailyworld.in/business/gautam-adani-outlines-groups-growth-strategy-with-focus-on-local-jobs-better-lives-with-dignity-671840.html Fri, 01 May 2026 13:19:00 +0530 https://dailyworld.in/business/commercial-lpg-cylinder-rates-hiked-by-rs-993-no-change-for-household-gas-consumers-671848.html New Delhi May 1 IANS The price of a 19kg commercial LPG cylinder has been increased by Rs 993 starting Friday and after the revision a 19kg cylinder will now cost Rs 30715 in DelhinbspHowever there has been no change in the price of domestic LPG cylinders for 33 crore users the Indian Oil Corporation IOC said in a statementThis is the third time that the price of a 19kg commercial LPG cylinder has been increased since February 28 when the USIsrael and Iran war beganIt first saw an increase of about Rs 115 in early March followed by a further hike of nearly Rs 200 on April 1In a statement IOC said that petrol and diesel prices continue to be the same despite elevated global energy prices It added that there has been no rate revision in key fuels affecting the general publicAviation turbine fuel ATF prices for domestic airlines were left unchanged According to IOC stateowned oil companies chose to absorb the increase in global fuel costs to shield carriers and passengersMeanwhile the government said export levies Special Additional Excise Duty or SAED and Road and Infrastructure Cess or RIC on the exports of petrol diesel and aviation turbine fuel ATF were introduced with effect from March 27 2026 so as to ensure domestic availability of petroleum products by disincentivising exports in the backdrop of the West Asia crisesThe rates are being revised on a fortnightly basis and the last such revision was undertaken with effect from April 11 2026The rates are prescribed based on the average international prices of crude oil petrol diesel and ATF prevailing during the period since the last reviewThe rates for the next fortnight beginning May 1 2026 have been notified by the Central Government todayConsequently the rate of duty on exports of diesel will be Rs 23 per litre SAED Rs 23 RIC Nil Further the rate of duty on exports of ATF will be Rs 33 per litre SAED only The rate of duty on exports of Petrol continues to remain Nil said Finance MinistryThere is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption it addedIANS https://dailyworld.in/business/commercial-lpg-cylinder-rates-hiked-by-rs-993-no-change-for-household-gas-consumers-671848.html Fri, 01 May 2026 13:46:00 +0530 https://dailyworld.in/business/global-crude-prices-rise-073-pc-as-us-iran-talks-stall-671852.html New Delhi May 1 IANS Crude oil prices rose on Friday as efforts to resolve the Iran crisis reached a stalemate with Tehran continuing to block the Strait of Hormuz and Washington restricting Iranian crude exportsnbspBrent futures for July on Intercontinental Exchange gained 081 or 073 per cent to 11121 a barrel while West Texas Intermediate rose 31 cents or 030 per cent to 10537 Both benchmarks have posted gains for four consecutive months analysts notedBrent crude oil had crossed 120 per barrel for the first time in 4 years heightening inflation concerns and putting pressure on global marketsMarket participants flagged new supply concerns after Brents June contract which expired on Thursday hit 12641 a barrel its highest level since March 2022British and European central banks cautioned about rising inflation while the United States is working towards a coalition of allied countries and shipping companies to ensure secure transit through HormuznbspA ceasefire though in effect since April 8 felt shaky as on Thursday evening Iranian Foreign Ministry spokesperson Esmaeil Baghaei said it was unrealistic to expect quick outcomes from negotiations with the US according to multiple reportsFed Chair Jerome Powell has warned that rising oil prices due to the Middle East conflict are boosting inflation and complicating policy Asia faces greater economic risks from the energy shock he addedThe price of a 19kg commercial LPG cylinder has been increased by Rs 993 starting Friday and after the revision a 19kg cylinder will now cost Rs 30715 in DelhiHowever there has been no change in the price of domestic LPG cylinders for 33 crore users the Indian Oil Corporation IOC said in a statementThis is the third time that the price of a 19kg commercial LPG cylinder has been increased since February 28 when the USIsrael and Iran war beganIANS https://dailyworld.in/business/global-crude-prices-rise-073-pc-as-us-iran-talks-stall-671852.html Fri, 01 May 2026 14:00:00 +0530 https://dailyworld.in/business/adani-group-to-add-rs-2-lakh-crore-worth-new-assets-this-year-gautam-adani-671855.html New Delhi May 1 IANS Adani Group Chairman Gautam Adani said on Friday that the Group would add another Rs 2 lakh crore in new assets within this year as part of the accelerated growth that is taking place across its businessesnbspAddressing 4 lakh employees of the Adani Group on International Labour Day Gautam Adani said In our first 35 years we collectively built assets worth approximately Rs 2 lakh crore And today such is our standing that within this single year alone we are going to add another Rs 2 lakh crore in new assetsHe said that the Adani Group would strive to contribute its share to the journey of making India a developed nation by 2047 as envisioned by Prime Minister Narendra ModiCiting the examples of various projects such as Mundra and the just completed Ganga Expressway Gautam Adani said When we complete a project we are not simply finishing a task we are shaping the future of our countryHe highlighted that the Mundra project had transformed a swathe of barren land into Indias largest port accelerating the nations trade and connecting the country to the rest of the worldSimilarly the Vizhinjam Port in Kerala will carve out a new identity for India on the global maritime map and propel the country forward toward becoming a robust transshipment hub And Khavda in Kutch where the group is currently building one of the worlds largest green energy projects is laying the foundation for a safe and clean future for generations to come Gautam Adani explainedHe further stated that the Navi Mumbai International Airport has become the pride of the country as one of the finest airports in the world and will add a new dimension to Indias aviation capacities and increase connectivity and open the doors to new opportunities for millions of peopleHe also underlined the importance of the 594km greenfield Ganga Expressway project in Uttar Pradesh which was inaugurated by the Prime Minister this week The project would transform the lives of over 8 crore people by cutting the journey from Meerut to Prayagraj from 1011 hours to a mere 56 hours Gautam Adani addedBesides he highlighted the Dharavi slum redevelopment project that the group is taking up in Mumbai This is not merely a project it is perhaps the worlds largest and most challenging endeavor in human transformation he saidAll these projects undertaken by the Adani Group with pride and satisfaction represent a humble contribution towards nationbuilding Gautam Adani remarkedIANS https://dailyworld.in/business/adani-group-to-add-rs-2-lakh-crore-worth-new-assets-this-year-gautam-adani-671855.html Fri, 01 May 2026 14:10:00 +0530 https://dailyworld.in/business/centre-notifies-customs-tariff-cuts-under-rodtep-scheme-to-help-export-sector-671863.html New Delhi April 30 IANS The Department of Commerce on Thursday notified the revised schedules under the Remission of Duties and Taxes on Exported Products RoDTEP Scheme as part of the strategy to help the countrys export sector amid global disruptions due to the Middle East conflictnbspThe revisions pertain to DTA exports and for exports by Advance Authorisation AA Export Oriented Units EOUs and Special Economic Zone SEZ units in line with amendments made in the First Schedule to the Customs Tariff Act 1975 through the Finance Act 2026The notification provides for the technical alignment of RoDTEP tariff lines with the revised Customs tariff structure The revision covers 194 tariff lines including the addition of 142 new 8digit tariff lines deletion of 50 tariff lines and modification in the descriptions of two tariff lines in the RoDTEP schedulesThe revised schedules will enable seamless implementation of RoDTEP benefits in the Customs Automated System with effect from May 1 The alignment is expected to reduce classificationrelated ambiguity ensure consistency between Customs tariff entries and RoDTEP schedules and facilitate smoother processing of eligible export claims according to an official statement issued by the Department of CommerceThe measure is RoDTEPspecific and is aimed at improving ease of doing business for exporters by ensuring timely convergence of related compliance frameworks minimising systemlevel discrepancies and maintaining continuity in the remission of eligible duties taxes and levies on exported products the statement explainedThe Centre has rolled out a series of relief measures aimed at shielding Indian industry and consumers from the adverse economic impact of the West Asia war which has disrupted supply chains and hit exportsThe Finance Ministry has outlined steps spanning customs duty cuts for key raw materials export incentives fuel price controls and financial support mechanisms with a focus on ensuring stability across key sectorsThe government has allowed Special Economic Zone SEZ units to sell goods in the domestic market at concessional customs duty rates Earlier such sales attracted full importequivalent duties which have now been reduced to approximately 5 to 125 per cent to support manufacturing unitsCustoms duties on critical petrochemical products have also been reduced in a targeted move to offset supply disruptions due to the West Asia conflict The relief is expected to benefit sectors including plastics packaging textiles pharmaceuticals chemicals and auto componentsIANS https://dailyworld.in/business/centre-notifies-customs-tariff-cuts-under-rodtep-scheme-to-help-export-sector-671863.html Fri, 01 May 2026 14:54:00 +0530 https://dailyworld.in/business/adani-groups-new-3-layer-model-to-cut-decision-time-from-days-to-hours-gautam-adani-671865.html Ahmedabad May 1 Adani Group Chairman Gautam Adani on Friday said the Adani Group will adopt a threelayer organisational model to speed up decisionmaking and boost execution across its businesses Addressing employees on the occasion of International Labour Day Gautam Adani outlined a sweeping internal overhaul aimed at flattening hierarchies strengthening partnerships and enhancing workforce capabilities linking the groupâs transformation to Indiaâs broader development ambitionsThe threelayer model is designed to eliminate bureaucratic delays and bring greater clarity in responsibility the Adani Group Chairman saidâWe want decisions that currently take three days to be made in just three hoursâ Gautam Adani said stressing that faster decisionmaking is critical as organisations scale upAccording to him reducing layers within the organisation will help improve speed accountability and overall efficiencyAs companies grow larger decisionmaking often slows down due to multiple levels of approvals something the group now aims to address through structural changes Gautam Adani explainedAlongside this Gautam Adani also introduced a âpartnership modelâ that seeks to streamline engagement with contractors and vendorsâAt several project sites over 100 contractors operate simultaneously making coordination complex and timeconsumingâ the Adani Group Chairman statedThe new approach will focus on working with a smaller pool of reliable partners who can take endtoend responsibility for projects thereby improving execution and reducing delaysâThe new approach will focus on working with a smaller pool of reliable partners who can take endtoend responsibility for projects thereby improving execution and reducing delaysâ Gautam Adani addedMeanwhile the Adani Group Chairman said that the group would add another Rs 2 lakh crore in new assets within this year as part of the accelerated growth that is taking place across its businessesâThe Adani Group would strive to contribute its share to the journey of making India a developed nation by 2047 as envisioned by Prime Minister Narendra Modiâ Gautam Adani explained IANS https://dailyworld.in/business/adani-groups-new-3-layer-model-to-cut-decision-time-from-days-to-hours-gautam-adani-671865.html Fri, 01 May 2026 15:30:00 +0530 https://dailyworld.in/business/ravi-k-assumes-charge-as-hals-cmd-671866.html Bengaluru May 1 Ravi K on Friday assumed charge as the 22nd Chairman and Managing Director of Hindustan Aeronautics Limited HAL from Dr D K Sunil who superannuated on April 30 2026 He brings over 30 years of experience across various sectors such as AampD manufacturing and electronicsPrior to this he was the Director Operations at HAL where he led strategic planning and played a key role in securing HALs Maharatna statusâMy vision is to transform HAL into a globally competitive aerospace and defence enterprise driven by innovation Artificial Intelligence AI operational excellence and peopleâ Ravi K saidHe has held key leadership roles including Executive Director and General Manager of the LCA Tejas Division as well as Executive Director Corporate PlanningDuring his tenure he concluded various bigticket contracts for HAL such as the contract to supply 180 LCA Tejas to the Indian Air Force 156 LCH Prachand to the Indian Army and Indian Air Force and is credited with the operationalisation of the LCA Tejas fleet in IAFHe boosted fleet serviceability through various customercentric initiatives established seamless data communication with IAF bases and created a Single Point of Contact SPOC for timely customer supportHe has been a driving force in strengthening indigenous capabilities within the LCA Tejas programme by increasing local content and expanding production capacity in NasikHe also played a pivotal role in developing a robust manufacturing ecosystem by outsourcing major fuselage assemblies to private sector partners a strategy that is now delivering tangible results through ongoing deliveriesHis initiatives have diversified HAL into Civil manufacturing and Maintenance Repair and Overhaul MRO creating new revenue streams and expanding HALâs market presenceA Mechanical Engineering graduate from Malnad College of Engineering Karnataka he is an alumnus of IIM Ahmedabad and IAS Toulouse France He is also a Nominee Director on the board of MultiRole Transport Aircraft Limited IANS https://dailyworld.in/business/ravi-k-assumes-charge-as-hals-cmd-671866.html Fri, 01 May 2026 15:33:00 +0530 https://dailyworld.in/business/indias-organised-live-events-sector-to-grow-at-10-pc-to-rs-196-billion-by-2028-671873.html New Delhi May 1 Indiaâs organised live events sector valued at Rs 145 billion in 2025 as per industry estimates has emerged as the highest growth segment in the media and entertainment sector and is projected to grow at 10 per cent to Rs 196 billion by 2028 the government said on Friday To promote this sector the Ministry of Information amp Broadcasting MIB has set up a Live Events Development Cell LEDC under the chairpersonship of the Secretary IampBIt includes representatives from Central Ministries State Governments industry bodies and other stakeholdersAt the fourth meeting of LEDC here Chanchal Kumar Secretary MIB highlighted the role of LEDC in creating a coordinated roadmap for the growth of Indiaâs live events industryHe noted that the Live Events sector is one of the fastestgrowing segments of the Media and Entertainment industry contributing significantly to employment generation tourism promotion and economic multiplier across allied sectorsâOn behalf of the Government both Centre and State I assure that all necessary facilitation will be extended to make the processes for organising live events robust and transparent There is complete alignment in the intent of all members of LEDC the focus should now be on effective implementationâ said KumarLEDC aims to position the concert economy as one of the key drivers of national growth and make India a global hub for live events by 2030 and generate 1520 additional million jobs in this sectorDuring the meeting the Secretary highlighted the role of LEDC in creating a coordinated roadmap for the growth of Indiaâs live events industryHe noted that the Live Events sector is one of the fastestgrowing segments of the Media and Entertainment industry contributing significantly to employment generation tourism promotion and economic multiplier across allied sectorsIt was informed that a singlewindow clearance system for live event permissions has been developed on the India Cine Hub ICH portal The adoption of the ICH portal by States will help digitise the live event permissions process and ensure timely transparent and efficient approvals IANS https://dailyworld.in/business/indias-organised-live-events-sector-to-grow-at-10-pc-to-rs-196-billion-by-2028-671873.html Fri, 01 May 2026 16:24:00 +0530 https://dailyworld.in/business/us-navys-blockade-of-iran-hits-chinas-cheap-oil-deals-report-671874.html New Delhi May 1 The US Navys blockade of Iran has built economic pressure on Tehran that continues even though the ceasefire has led to a temporary pause in fighting according to a new report The blockade has also hit Chinaâs purchases of Iranâs oil at discounted prices deals for which were being carried out through a covert financial system and a fleet of ghost tankersAccording to an article in Sky News Australia Iranâs Islamic Revolutionary Guard Corps IRGC has sustained itself through shell companies rotating ship identities and shadow banking corridors that kept oil revenue flowing outside the formal financial system The article highlights that earlier the US kept targeting individual aspects of this covert system put in place by China and Iran to circumvent western sanctions However this time around the US is aiming to dismantle the entire network that in the past has managed to survive the limited action It points out that earlier this clandestine ecosystem survived as China built the infrastructure to sustain it This included a shadow banking network which concealed the origin of Iranian crude oil rotating ship identities and layering payments through thirdcountry intermediariesChinaâs âteapot refineryâ sector comprising small coastal refineries processed most of Irans oil exports while carrying out these deals through the US financial system in dollars and providing the IRGC the hard currency which was required to finance missiles drones and weapons transfers to regional proxies such as Hezbollah Hamas and the Houthi rebels The article also states that China was also using Iran as âa rehearsal spaceâ so that it could use these evasion methods on a much wider scale for itself if required to evade US sanctions The IRGC operated a rotating fleet of tankers under falsified identities to conceal Iranian crude shipments to Chinese buyers while Hengli Petrochemical Chinas secondlargest independent refinery received more than five million barrels of IRGCaffiliated crude through that same network the article points out âThe arrangement served Beijing on both ends with Chinese refiners purchasing Iranian crude at steep discounts unavailable on open markets while every successful evasion transaction simultaneously stresstested the financial infrastructure Xi intended to activate over Taiwanâ the article observes However there has been a big setback to this entire network as in the latest action the US has sanctioned 35 entities and individuals running Irans shadow banking system hitting 19 shadow fleet vessels simultaneously and putting every company paying IRGC tolls for Strait of Hormuz passage on notice the article added IANS https://dailyworld.in/business/us-navys-blockade-of-iran-hits-chinas-cheap-oil-deals-report-671874.html Fri, 01 May 2026 16:27:00 +0530 https://dailyworld.in/business/noida-international-airport-to-begin-commercial-flight-operations-from-june-15-671879.html New Delhi May 1 IANS Noida International Airport on Friday announced that commercial flight operations will commence from June 15 marking a major milestone for aviation connectivity in North IndianbspThe launch follows the airports inauguration by the Prime Minister and the approval of the Aerodrome Security Program ASP by the Bureau of Civil Aviation Security confirming that all security systems and operational protocols are in place in line with regulatory standardsThe start of services follows the inauguration of the airport by the Honble Prime Minister and the receipt of approval for the ASP from the Bureau of Civil Aviation Security which confirms that the airports security framework systems and operating procedures are in place in line with regulatory requirements ahead of the launch of commercial services the airport said in a statementWith this clearance the airport is set to open as a new gateway for passengers airlines and cargo operators in the National Capital Region and beyondThe start of operations is expected to ease congestion at existing airports while enhancing travel options for flyers across the regionIndiGo will operate the first flight from the airport marking the beginning of scheduled passenger servicesThis will be followed by services from Akasa Air and Air India Express with further details on routes and schedules to be announced in the coming weeksDeveloped to cater to the rising demand for air travel the airport features modern terminal infrastructure efficient operational systems and strong multimodal connectivityIt aims to provide a seamless passenger experience while enabling airlines to operate in a costeffective and reliable environmentThe commencement of commercial operations is also expected to boost regional connectivity and drive economic growth by opening up new opportunities in tourism trade and investment across North IndiaDeveloped to meet the growing demand for air travel Noida International Airport combines modern terminal infrastructure efficient operations and strong multimodal connectivity the airline saidThe airport is designed to offer a smooth passenger journey while supporting airlines with reliable and costefficient operations it addedIANS https://dailyworld.in/business/noida-international-airport-to-begin-commercial-flight-operations-from-june-15-671879.html Fri, 01 May 2026 16:34:00 +0530 https://dailyworld.in/business/tata-motors-pips-mahindra-amp-mahindra-in-passenger-vehicle-sales-671883.html New Delhi May 1 Indiaâs automobile sector has kicked off FY27 on a robust note led by a standout performance from Tata Motors which edged ahead of Mahindra and Mahindra in the passenger vehicle segment for April 2026 Tata Motors reported a 311 per cent yearonyear YoY jump in passenger vehicle sales to 59701 units during the monthDomestic sales accounted for the bulk of this growth rising 305 per cent to nearly 59000 units while exports more than doubled albeit on a lower baseThe companyâs electric vehicle portfolio remained a key growth engine with EV sales surging 721 per cent to 9150 unitsThe strong performance reflects a broader shift in consumer preferences towards safer technologyloaded vehicles alongside increasing acceptance of electric mobilityTata Motors has continued to benefit from its earlymover advantage in the EV segment supported by an expanding product lineup and improving charging infrastructureOn the commercial vehicle front Tata Motors also posted healthy gains reporting a 28 per cent rise in total sales to 34833 unitsGrowth was broadbased led by a sharp 402 per cent increase in small commercial vehicles and pickupsDemand for heavy trucks and passenger carriers also remained steady pointing to sustained economic activity and strong logistics demand across sectorsMeanwhile Mahindra and Mahindra reported total vehicle sales of 94627 units marking a 14 per cent increase yearonyearIts domestic passenger vehicle sales grew 8 per cent reflecting continued traction in its SUV portfolio though at a slower pace compared to Tata Motorsâ surgeA key highlight for Mahindra was its tractor business which recorded a strong 21 per cent rise in sales to 48411 unitsTractor exports also delivered robust growth of 30 per cent Nalinikanth Gollagunta CEO Automotive Division MampM Limited âthe year 2027 has begun on a positive note in April by achieving SUV sales of 56331 units a growth of 8 per cent and total vehicle sales of 94627 units a 14 per cent growth over the same month last yearâ IANS https://dailyworld.in/business/tata-motors-pips-mahindra-amp-mahindra-in-passenger-vehicle-sales-671883.html Fri, 01 May 2026 17:30:00 +0530 https://dailyworld.in/business/uae-telecom-giant-etisalat-may-exit-pakistan-671893.html New Delhi May 1 Leading UAE telecom major Etisalat is reviewing its investment in Pakistan which could lead to its exit from Pakistan TelecomÂmuniÂcation Company Ltd PTCL according to a report in the local media Insiders say Etisalat had indicated that the review is driven by a combination of global macroeconomic uncertainty regional geopolitical tensions and evolving capital allocation strategies among sovereignlinked investors the report in the Dawn saidEtisalatâs plans are still at the preliminary assessment stage with no final decision taken as yet the report statedAsked for comment PTCL told Dawn its longterm business plan had recently been approved by its board and shareholders PTCL is not aware about shareholdersâ plan of any change at this stageâ the company said in its statementFor Pakistan PTCL remains a strategically important entity despite its mixed ownership â the government and its entities still hold around 62 per cent stake in it although 26 per cent shares and management control are in the hands of the Gulf telecom giant which recently rebranded and is in the process of corporate restructuring The remaining 12 pc shares are held by private investors through the Pakistan Stock ExchangePTCL has been facing continuous losses over the past couple of years turning a profit only recently following its acquisition of Telenor PakistanJust recently Islamabad repaid about 35bn to the UAE which had been rolling over these deposits for years to shore up Pakistanâs foreign exchange reserve target under multiple IMF programmesConcurrently Saudi Arabia has increased its role in maintaining Pakistanâs reserves by enhancing the volume of its safe deposits in Pakistan by 3bn to 8bn to fill the financing gap under IMF requirements Meanwhile the IMFâs executive board is set to meet on May 8 to clear the disbursement of another 121bn tranche for PakistanA senior Finance Division official told Dawn that in the event of any portfolio rebalancing by UAE stakeholders Pakistan retained credible downside protection through alternative GCC capital flows noting that strategic interest from Saudi and Qatari investors provided a viable alternative pathway to ensure continuity of investment operational stability and longterm sectoral growthSources referred to the UAEâs recent measured rebalancing toward US dollar reserves and domestic market commitments amid global volatility saying that this reflects standard focus on hardcurrency buffers balanceofpayment stability and capital efficiency the report added IANS https://dailyworld.in/business/uae-telecom-giant-etisalat-may-exit-pakistan-671893.html Fri, 01 May 2026 20:10:00 +0530 https://dailyworld.in/business/maruti-suzuki-india-hits-record-april-sales-up-33-pc-at-239-lakh-units-671897.html New Delhi May 1 Maruti Suzuki India the countryâs largest carmaker on Friday reported its highestever April sales signalling a strong start to the new financial year driven by broadbased demand across segments particularly small cars and SUVs The company posted total sales of 239646 units in April marking a sharp 3329 per cent increase over 179791 units sold in the same month last yearDomestic sales also touched a record high of 191122 units up from 142053 units a year ago surpassing its previous peak of 182165 units recorded in December 2025Growth was particularly pronounced in the entrylevel segment with the mini car category comprising models like Alto and SPresso witnessing a significant jump to 16066 units more than doubling from 6332 units in April last yearThe compact segment which includes popular models such as Baleno Swift Dzire and WagonR also delivered strong performance with sales rising to 80659 units compared to 61912 units a year earlierThe companyâs utility vehicle portfolio maintained its momentum reflecting sustained consumer preference for SUVsSales in this segment which includes models like Brezza Ertiga Fronx and Grand Vitara climbed to 77892 units from 59022 units in the corresponding period last yearMeanwhile sales of the light commercial vehicle Super Carry remained largely stable at 3418 units marginally higher than 3349 units reported in April 2025Exports also contributed significantly to the overall growth rising to 40054 units last month compared to 27911 units a year earlierMeanwhile earlier this month the carmaker has achieved its highestever annual production volume of 234 lakh units in FY202526 making it the only original equipment maker OEM in the country to achieve such record production volume of passenger vehiclesMaruti Suzuki India also became the only company among Suzuki Motor Corporationâs global automobile manufacturing facilities to achieve this landmark volume it said in a statementThe company aims to scale it to about 40 lakh units per annum IANS https://dailyworld.in/business/maruti-suzuki-india-hits-record-april-sales-up-33-pc-at-239-lakh-units-671897.html Fri, 01 May 2026 20:17:00 +0530 https://dailyworld.in/business/pli-booster-apple-iphone-exports-hit-record-rs-2-lakh-crore-in-fy26-671747.html New Delhi April 30 Indias iPhone exports hit a record Rs 2 lakh crore in FY26 the countrys single largest branded export ahead of diamonds automotive fuel and medicines in the final year of the governments productionlinked incentive PLI scheme for largescale electronics manufacturing According to vendor data submitted to authorities this has made Apple the largest branded export across all categories under the Harmonised System HS classification which spans more than 5000 globally traded product groupsOverall smartphone exports from India stood at approximately Rs 26 trillion 294 billion during the period with iPhones contributing over 75 per cent over 22 billionAutomotive diesel fuel the secondlargest export category stood at 1453 billion well behind iPhones Diamonds followed at 1123 billion while medicines and motor gasoline accounted for 998 billion and 85 billion respectivelyApples rapid scaleup has positioned it as a key driver of Indias manufacturing ambitions under the Make in India initiativeMoreover iPhone exports have expanded sharply since the rollout of the PLI scheme rising from negligible levels to Rs 2 lakh crore within five years Shipments were valued at Rs 93516 crore in FY22 increasing to Rs 442695 crore in FY23 before accelerating to Rs 850135 crore in FY24Exports then jumped to Rs 15 lakh crore in FY25 and grew a further 33 per cent in FY26 AprilâFebruary despite geopolitical tensions and trade disruptionsIn a separate major development Apple announced that John Ternus will succeed Tim Cook as chief executive officer effective September 1 2026Cook who has led Apple since 2011 will transition to the newly created role of executive chairman where he will engage with global policymakers and assist with select company matters according to AppleCook had previously dismissed speculation about a leadership change calling such reports a rumour and reaffirming his commitment to leading the companyâ IANS https://dailyworld.in/business/pli-booster-apple-iphone-exports-hit-record-rs-2-lakh-crore-in-fy26-671747.html Thu, 30 Apr 2026 15:15:00 +0530 https://dailyworld.in/business/union-bank-of-india-dismisses-reports-on-deposit-variation-671748.html Mumbai April 30 Stateowned Union Bank of India on Thursday dismissed recent media reports regarding variations in deposits stating that the claims are based on an unverified letter and contain factual inaccuracies In a clarification statement the bank said its financial statements undergo rigorous audit processes and have received unmodified audit opinions confirming a true and fair view in line with regulatory and accounting standardsThe bank said that it continues to focus on deposit growth particularly in CASA Current Account Savings Account deposits through targeted initiatives outlined in its investor presentation These efforts have supported steady expansion in its deposit baseAccording to the bankâs internal data average total deposits and CASA levels for the period from April 1 to April 28 2026 unaudited were higher than the averages recorded in the fourth quarter of FY26The bankâs MIS data showed total deposits at Rs 1239 lakh crore in June 2025 moderating to Rs 1222 lakh crore by December before rising to Rs 1306 lakh crore at the end of March 2026 and Rs 1261 lakh crore as of April 28CASA deposits followed a similar trajectory reaching Rs 460 lakh crore in March before easing to Rs 431 lakh crore the bank highlightedIt also noted that fluctuations in deposit levels immediately after the financial yearend are normal across the banking industryThe bank further stated that the media report has no material impact on its financial position or operations adding that the disclosure was made under SEBIâs LODR regulationsShares of Union Bank of India on Thursday traded 234 per cent lower to Rs 27080 from the previous close on the BSE The PSU bank stock has touched a 52week high of Rs 31995 and a low of Rs 172 on the exchange IANS https://dailyworld.in/business/union-bank-of-india-dismisses-reports-on-deposit-variation-671748.html Thu, 30 Apr 2026 15:17:00 +0530 https://dailyworld.in/business/talent-driven-ecosystem-positions-vizag-as-emerging-it-growth-hub-671754.html Visakhapatnam April 30 The Andhra Pradesh governmentâs talentdriven ecosystem has positioned Visakhapatnam as an emerging IT growth hub officials said on Thursday Through progressive policies such as IT amp GCC Information Technology amp Global Capability Centres and LIFT Land Incentive for Tech Hubs coupled with industryacademia collaboration robust infrastructure support and employeefriendly urban mobility solutions the state has created an enabling environment for IT companies to scale seamlessly they saidThe ecosystemled approach is helping reverse the longstanding trend of talent migration positioning Visakhapatnam not just as a source of skilled professionals but as a destination where global companies can build and retain highquality teamsVisakhapatnam is rapidly emerging as one of Indiaâs most promising IT destinations powered by a strong local talent base and a maturing ecosystem that is increasingly attracting global technology investments Reinforcing this trend Infosys has been allotted 20 acres of land in Vizag to set up a 7000seater facility said a government releaseOver the last two years Infosys has scaled its workforce in Visakhapatnam from 250 employees in early 2024 to nearly 1900 currently with an additional 750 seats set to become operational in the near termThe company has also outlined plans for a permanent 20acre campus with a longterm seating capacity of 7000 professionals demonstrating strong confidence in the regionâs longterm potentialAccording to the official release a defining feature of this growth is the deep integration with the local talent ecosystem The Visakhapatnam campus has recruited over 1000 freshers and 500 lateral hires from the region reflecting the availability of industryready talent and the success of Andhra Pradeshâs focussed skilling and industryaligned education initiativesâThe growth of Visakhapatnam as an IT hub is a direct reflection of the strength of our local talent and the ecosystem we are building around it For years our youth have powered global technology companies from across the world Today that same talent is choosing to build their careers here in Andhra Pradeshâ said Nara Lokesh Minister for IT Electronics amp EducationâOur vision is to create a vibrant talentfirst ecosystem where industry academia and government work in synergy The expansion of Infosys in Visakhapatnam is a strong validation of this approach and reinforces our commitment to transforming Andhra Pradesh into a global hub for technology and innovationâ he added IANS https://dailyworld.in/business/talent-driven-ecosystem-positions-vizag-as-emerging-it-growth-hub-671754.html Thu, 30 Apr 2026 15:25:00 +0530 https://dailyworld.in/business/renault-group-india-seeks-nclt-nod-for-restructuring-plan-to-streamline-operating-structure-671755.html New Delhi April 30 Renault Group India on Thursday said it has approached the National Company Law Tribunal NCLT to seek approval for a proposed restructuring of its India operations The Dustermaker said in an official statement the plan aims to streamline its operating structure by separating powertrain manufacturing into a dedicated entity while integrating vehicle manufacturing and sales under a single frameworkThe company said the move is intended to align with the distinct operational requirements of its businesses and support its longterm strategy in India including strengthening the countryâs role as a manufacturing and export hubRenault has set a target of achieving up to 2 billion euros in annual exports from India by 2030The carmaker clarified that the proposed changes will not disrupt ongoing operations and will have no impact on employees customers dealers suppliers or partners Existing employment terms service continuity and business relationships will remain unchangedThe company added that all manufacturing supply and service commitments will continue as usual reiterating its commitment to India as a key market and production baseRenault Group India has a significant presence in the country with around 15000 employees across its integrated manufacturing operations as well as engineering research and design centres The company caters to both domestic demand and global programmesIn February the company reported wholesale sales of 3495 units up 31 per cent from 2676 units in the same month last year driven by strong demand for its refreshed Kiger and Triber modelsIt operates a nationwide sales and service network of over 600 touchpoints and serves as a major export hub manufacturing and shipping vehicles components and engineering services to multiple international markets IANS https://dailyworld.in/business/renault-group-india-seeks-nclt-nod-for-restructuring-plan-to-streamline-operating-structure-671755.html Thu, 30 Apr 2026 15:27:00 +0530 https://dailyworld.in/business/phonepe-surpasses-700-million-registered-users-accelerates-growth-momentum-671766.html New Delhi April 30 PhonePe on Thursday announced that it has crossed the milestone of 700 million 70 crores lifetilldate registered users on its platform as on April 29 2026 This milestone highlights PhonePeâs populationscale reach in India and the breadth of its digital platform offerings across payments and financial services distributionIt also reflects the companyâs sustained growth driven by increasing consumer trust marketleading distribution network and a continued focus on building reliable and intuitive digital payment experiencesWhat stands out in this journey is not just the scale but the pace of growth It took PhonePe 136 days to reach its first million users and now it is achieved every 6 days From Fiscal Year 2023 to Fiscal Year 2025 the company has maintained a steady compound annual growth rate CAGR of 5625 per cent underlining the consistency of its expansion even as it operates at a massive scalePhonePeâs growth has been fueled by its commitment to building a seamless and secure financial services ecosystem With a strong emphasis on speed reliability and usercentric design the platform has continued to evolve in line with the needs of a rapidly digitizing IndiaCommenting on the milestone Sameer Nigam Founder and CEO of PhonePe said âCrossing 700 million lifetilldate registered users is a significant moment in our journey and speaks of the trust that users across the country have placed in usWhat is equally exciting is the pace at which we are growing today which reflects the increasing relevance of digital payments in everyday life As we move forward our focus remains on building products that are simple secure and accessible to all while continuing to contribute to Indiaâs digital economyâAs adoption within Indiaâs digital ecosystem continues to grow PhonePe intends to continue expanding its offerings and investing in an ecosystem of multiple populationscale digital platforms for Indians IANS https://dailyworld.in/business/phonepe-surpasses-700-million-registered-users-accelerates-growth-momentum-671766.html Thu, 30 Apr 2026 15:40:00 +0530 https://dailyworld.in/business/centre-enters-new-fiscal-from-position-of-relative-prudence-despite-global-headwinds-finmin-report-671768.html New Delhi April 30 While the West Asia conflict constitutes a significant supply shock Indiaâs domestic demand policy buffers resilient financial system and sustained public investment provide some insulation according to the Finance Ministryâs monthly economic review for April While supplyside stresses are becoming increasingly evident the report said demand conditions in March as evident from retail vehicle sales as well as tractor sales still appear reasonably robust âLooking ahead demand conditions and economic activity will be influenced by emerging pressures stemming from rising input prices and supply chain constraints However as the fragile peace in the Middle East holds on with the ceasefire we expect the situation to improve in H2 of 2026â it addedThe review cautioned that as the evolving West Asia conflict begins to exert pressure on economic activity it will have direct implications for both revenue realisation and expenditure commitments in 202627 It also called for an assessment of fiscal position of states given their critical role in aggregate public spending âNotwithstanding these emerging headwinds the Centre enters the fiscal year from a position of relative prudence The fiscal consolidation path adhered to in recent years coupled with the Budgetâs conservative assumption of a gross tax revenue buoyancy of 08 which is below the historical average and the creation of an Economic Stabilisation Fund in the public account provides room for fiscal interventionsâ the review observesHowever the review also flags the risk of uncertainty in energy and fertiliser supplies in case the Middle East conflict gets prolonged Risks are tilted to the upside for inflation fiscal and external deficits and to the downside for economic growth However while striving to sustain economic growth policy is expected to safeguard mediumterm fiscal and external stability it added Citing external sector trends the review noted that Indiaâs merchandise trade deficit widened to 3332 billion in FY26 from 2835 billion in FY25 while the overall trade deficit rose to 1193 billion from 947 billion during the same period âThe pattern is likely to persist in FY27 with even wider deficits alongside a higher current account deficitâ it said While describing the recent pickup in gross foreign direct investment FDI inflows as encouraging the review warned that the global environment was becoming more competitive âCountries are increasingly weaponising supply chains and investment flows making relocation decisions more complex for businessesâ it saidIndiaâs task is cut out and a coordinated push is required across agencies to attract capital flows through stable tax policies improved logistics better urban liveability stronger research and innovation ecosystems and a skilled and healthy workforce it observes Among other reforms the review said the domestic decriminalisation and deregulation agenda should not be held back due to global uncertainties adding that regulatory simplification â particularly steps that lower the cost of imports and exports â would be âespecially valuable in these timesâAs far as the farm sector is concerned the review sees this as the ideal time to implement longoverdue policies that remove distorted crop choices and improve agricultural productivity In India the forecast of a belownormal spatially uneven monsoon due to the El Nino effect underscores the urgency of getting agricultural and water policies right it added The review also highlights that boosting AIinsulated durable trade skills among the youth will support domestic manufacturing and services while creating export opportunities IANS https://dailyworld.in/business/centre-enters-new-fiscal-from-position-of-relative-prudence-despite-global-headwinds-finmin-report-671768.html Thu, 30 Apr 2026 15:44:00 +0530 https://dailyworld.in/business/federal-bank-to-acquire-select-credit-card-portfolio-from-standard-chartered-bank-in-india-671769.html New Delhi April 30 Federal Bank on Thursday said its board has approved a plan to acquire a select portfolio of retail credit cards from Standard Chartered Bankâs India unit However the transaction value has not been disclosed in the regulatory filingFederal Bank said its board at a meeting held on April 30 cleared the proposal to enter into a deed of assignment DOA with Standard Chartered Bank India SCB IndiaThe agreement will enable the bank to take over a portion of SCB Indiaâs retail credit card portfolio with further updates to be shared once the deal is executedâThe Board of Directors of Federal Bank Limited at its meeting held on April 30 has approved that the Bank proceed to enter into a deed of assignment with Standard Chartered Bank India whereby the Company would acquire a select portfolio of retail credit cards from SCB Indiaâ the private lender saidâThe Bank shall provide an update on the execution of the DOA in due courseâ it addedThe development comes as Standard Chartered recalibrates its retail strategy in India moving away from standalone credit card offeringsThe UKbased lender has indicated that it will instead focus on building deeper multiproduct relationships with customers integrating credit cards into broader banking wealth and lifestyle offeringsAs of January Standard Chartered had around 700000 credit cards in India of which roughly 550000 were standalone cardsThe remaining 150000 were tied to broader banking relationships a segment the bank now intends to expandAditya Mandloi head of wealth and retail banking for India and South Asia at Standard Chartered had earlier outlined the shift saying the bank would prioritise comprehensive client relationships anchored in wealth solutions international banking and seamless service rather than pushing singleproduct offerings like standalone cardsThe portfolio sale aligns with Standard Charteredâs ongoing restructuring of its retail business in IndiaLast year the bank also exited its personal loans segment by selling it to Kotak Mahindra BankFor Federal Bank the acquisition is expected to strengthen its retail lending footprint and provide access to an established credit card customer base as competition intensifies in Indiaâs fastgrowing consumer credit market IANS https://dailyworld.in/business/federal-bank-to-acquire-select-credit-card-portfolio-from-standard-chartered-bank-in-india-671769.html Thu, 30 Apr 2026 15:45:00 +0530 https://dailyworld.in/business/india-emerges-as-top-user-base-for-chatgpt-images-20-671771.html New Delhi April 30 Just a week after OpenAI rolled out ChatGPT Images 20 India has quickly become the platformâs largest user base it was said on Thursday But beyond the numbers what stands out is how Indian users are redefining the purpose of AI image generation turning it into a tool for creativity identity and digital storytellingUnlike traditional expectations of AI as a productivity enhancer users across India are embracing the new image model as a medium for selfexpressionFrom animestyle portraits and cinematic headshots to fantasy newspaper covers and tarotinspired visuals the tool is rapidly becoming embedded in online culture particularly among younger audiences experimenting with aesthetics and personal brandingThe surge in popularity comes as ChatGPT Images 20 introduces significant technological upgradesThe model can generate highly detailed visuals from minimal prompts render accurate text including multilingual inputs and handle complex creative instructionsIt also incorporates reasoning capabilities allowing it to interpret prompts more intelligently generate multiple variations and even draw on realtime web context to refine outputsHowever the real story lies in how people are using it Indian users are pushing the boundaries of the tool creating everything from polished LinkedInstyle headshots and paparazziinspired âflashâ images to dreamy pastel âspringâ aesthetics and fashionfocused âstyle meâ transformationsEveryday photos are being reimagined with dramatic lighting while older or lowquality images are being enhanced and restored with striking clarityMore experimental formats are also gaining traction Users are designing fictional newspaper front pages starring themselves generating mystical tarot card portraits and even visualising futuristic architecture and interiors through âblueprintâstyle promptsAlongside these countryspecific trends like cinematic portrait collages and Y2Kinspired romantic edits are further shaping a uniquely Indian visual language within the platformThis shift signals a broader evolution in how AI tools are being integrated into daily life In India AI image generation is no longer confined to professional or technical use cases it is blending seamlessly with creator culture fandoms fashion and social media identity IANS https://dailyworld.in/business/india-emerges-as-top-user-base-for-chatgpt-images-20-671771.html Thu, 30 Apr 2026 15:50:00 +0530 https://dailyworld.in/business/indias-used-car-market-seen-at-70-billion-by-fy31-report-671774.html New Delhi April 30 IANS Indias usedcar market is projected to reach around 70 billion by FY31 nearly doubling from about 35 billion in FY26 because of rising affordability shorter replacement cycles and increasing formalisation of transactions according to a report on ThursdaynbspThe report by Redseer Strategy Consultants said India is currently the fifthlargest usedcar market globally and is expected to become the thirdlargest by the end of the decade behind the US and ChinaMoreover annual retail usedcar sales are likely to scale up to 10 million units by FY31 supported by strong demand fundamentals and a growing base of vehicle ownership it saidA major driver of this growth is the shortening of the car replacement cycle which is expected to decline from 78 years in FY21 to around 45 years by FY31 particularly in metros and Tier 1 citiesThe report noted that rising incomes premiumisation trends and improved access to financing are expanding both demand and supply in the usedcar ecosystemIndias usedcar market is undergoing a fundamental transition from an informal priceled space to a more structured and trustbased ecosystem said Kushal Bhatnagar Associate Partner at Redseer Strategy ConsultantsHe added that used cars are increasingly being preferred not just as an economical option but for value optimisation quality assurance and the convenience offered by organised platformsThe study also highlighted that around 65 per cent of usedcar buyers in India are firsttime car owners underlining the segments growing importance in the countrys mobility landscapeAdditionally financing penetration in the usedcar segment is expected to rise up to 40 per cent by FY31 improving affordability and boosting volumes according to the reportDespite strong growth nearly 80 per cent of transactions remain unorganised indicating significant headroom for organised fullstack platforms to expand and address trustrelated concernsIndias usedtonew car ratio currently stands at around 14 and is projected to improve to 17 by FY31 though it remains below levels seen in mature markets which signals further growth potentialIANS https://dailyworld.in/business/indias-used-car-market-seen-at-70-billion-by-fy31-report-671774.html Thu, 30 Apr 2026 17:09:00 +0530 https://dailyworld.in/business/adani-group-backed-jaipur-international-airport-secures-water-positive-status-first-in-rajasthan-671685.html New Delhi April 30 IANS Adani Groupbacked Jaipur International Airport has achieved waterpositive status becoming the first airport in Rajasthan and among the few in India to reach this milestone according to officialsnbspThe certification has been awarded by global consulting firm Bureau Veritas after a detailed assessment of the airports water management systems and sustainability practicesAs a waterpositive airport Jaipur International Airport conserves more water than it consumes through recycling and replenishment measuresDuring the reporting period from April 2025 to March 2026 the airport utilised 103387 kilo litres of water while it replenished and recycled 137085 kilo litresOperating in a waterscarce region the airport has implemented several initiatives to optimise water usage and ensure longterm sustainability These include the installation of 18 deep aquifer recharge pits to enhance rainwater harvesting and groundwater rechargeThis achievement follows the airports sustained efforts towards water positivity The key enablers for this certification are three strategic pillars 100 per cent recycling and reuse of treated water reduction in fresh water consumption and robust rainwater harvesting infrastructure according to a Jaipur International Airport spokespersonThe busiest in Rajasthan Jaipur International Airport handled over six million passengers in FY25 and manages nearly 120 air traffic movements dailySpread across 776 acres the airport operates with a digitalfirst approachThe airport has also received the Zero Waste to Landfill ZWL certification from the CIIITC Centre of Excellence for Sustainable Development and was awarded ACI Level 3 accreditation by Airports Council International in May 2025Moreover Jaipur International Airport is operated by Adani Airport Holdings Limited AAHL a subsidiary of Adani Enterprises the flagship company of the Adani GroupIANS https://dailyworld.in/business/adani-group-backed-jaipur-international-airport-secures-water-positive-status-first-in-rajasthan-671685.html Thu, 30 Apr 2026 13:11:00 +0530 https://dailyworld.in/business/adani-backed-jaipur-airport-becomes-rajasthans-first-water-positive-hub-671686.html New Delhi April 30 IANS Adani Groupbacked Jaipur International Airport has achieved waterpositive status becoming the first airport in Rajasthan and among the few in India to reach this milestone according to officialsnbspThe certification has been awarded by global consulting firm Bureau Veritas after a detailed assessment of the airports water management systems and sustainability practicesAs a waterpositive airport Jaipur International Airport conserves more water than it consumes through recycling and replenishment measuresDuring the reporting period from April 2025 to March 2026 the airport utilised 103387 kilo litres of water while it replenished and recycled 137085 kilo litresOperating in a waterscarce region the airport has implemented several initiatives to optimise water usage and ensure longterm sustainability These include the installation of 18 deep aquifer recharge pits to enhance rainwater harvesting and groundwater rechargeThis achievement follows the airports sustained efforts towards water positivity The key enablers for this certification are three strategic pillars 100 per cent recycling and reuse of treated water reduction in fresh water consumption and robust rainwater harvesting infrastructure according to a Jaipur International Airport spokespersonThe busiest in Rajasthan Jaipur International Airport handled over six million passengers in FY25 and manages nearly 120 air traffic movements dailySpread across 776 acres the airport operates with a digitalfirst approachThe airport has also received the Zero Waste to Landfill ZWL certification from the CIIITC Centre of Excellence for Sustainable Development and was awarded ACI Level 3 accreditation by Airports Council International in May 2025Moreover Jaipur International Airport is operated by Adani Airport Holdings Limited AAHL a subsidiary of Adani Enterprises the flagship company of the Adani GroupIANS https://dailyworld.in/business/adani-backed-jaipur-airport-becomes-rajasthans-first-water-positive-hub-671686.html Thu, 30 Apr 2026 13:24:00 +0530 https://dailyworld.in/business/gold-silver-rise-up-to-2-pc-amid-crude-oil-surge-west-asia-tensions-671687.html Mumbai April 30 IANS Gold and silver prices rose on Thursday amid surging crude oil prices driven by the West Asia conflict gaining up to about 2 per centnbspOn the Multi Commodity Exchange MCX gold contracts for June 5 opened at Rs 149499 per 10 grams up Rs 449 or 030 per cent from the previous close of Rs 149050nbspAt around 1 pm gold was trading at Rs 150770 up Rs 1720 or 115 per cent During the session the yellow metal touched an intraday high of Rs 151514 up Rs 2464 or 165 per cent and a low of Rs 149069Silver contracts for July 3 opened at Rs 240784 per kg rising Rs 2530 or 106 per cent from the previous close of Rs 238254At the time of filing silver was trading at Rs 238900 up Rs 646 or 027 per cent During the session it hit a high of Rs 244000 up Rs 5746 or 241 per cent and a low of Rs 238755 up Rs 501 or 021 per centAccording to a commodity market expert the nearterm outlook for both gold and silver remains cautious to bearish influenced by geopolitical developments dollar strength and broader macroeconomic uncertaintyGlobal markets also reflected a similar trend with gold on COMEX trading marginally higher by 005 per cent at 4563 per ounce while silver gained 043 per cent to 7240 per ounceThe rise in gold prices is attributed to ongoing tensions between Iran and the United States which have heightened global uncertaintyUS President Donald Trump has said the blockade will not be lifted until Iran reaches an agreement on its nuclear programme while Iran has shown no signs of backing down despite offering proposals for peaceAmid the global uncertainty gold prices have surged over 40 per cent in the past year while silver has jumped more than 120 per centIANS https://dailyworld.in/business/gold-silver-rise-up-to-2-pc-amid-crude-oil-surge-west-asia-tensions-671687.html Thu, 30 Apr 2026 13:50:00 +0530 https://dailyworld.in/business/rupee-slips-past-95-against-us-dollar-amid-crude-spike-671740.html Mumbai April 30 Domestic currency weakened past the 95perdollar mark to hit a record low on Thursday pressured by a sharp rise in global crude oil prices amid escalating tensions between the US and Iran The currency touched an alltime low of 9507 in early trade and slipped to an intraday low of 95126 against the US dollar before weakening further to around 9520 during the sessionThe decline also follows hawkish signals from US Federal Reserve policymakers which have supported the dollar and pushed up US bond yields The Jerome Powellled central bank kept benchmark interest rates unchanged at its latest policy meetingIn 2026 so far the rupee has depreciated about 58 per centMeanwhile crude oil prices continued to surge extending gains from their highest close in nearly four years as the US intensified pressure on Iran Washington has signalled no easing of its naval blockade and moved to seize tankers linked to Tehran raising fears of prolonged supply disruptionsBrent crude hovered near 120 per barrel after jumping more than 6 per cent on Wednesday to its highest level since June 2022 On Thursday it was trading around 11410 per barrel up about 3 per cent from the previous closeSimilarly US West Texas Intermediate WTI traded above 107 and was last seen at 11028 per barrel also higher by around 3 per centUS President Donald Trump said he would not lift the naval blockade of Iranâs ports until a nuclear deal is reached while Iranian officials have shown no indication of stepping backThe negative sentiment was also reflected in domestic equity markets with Sensex and Nifty declining nearly 1 per cent in early trade IANS https://dailyworld.in/business/rupee-slips-past-95-against-us-dollar-amid-crude-spike-671740.html Thu, 30 Apr 2026 15:05:00 +0530 https://dailyworld.in/business/sensex-nifty-gain-in-early-trade-despite-geopolitical-tensions-rising-oil-prices-671592.html Mumbai April 29 IANS Domestic equity markets traded higher on Wednesday despite a rise in crude oil prices and reports that the United States may extend its blockade of Iranian portsnbspSensex traded 052 per cent or 400 points higher at 7728955 hitting an intraday high in early trade while Nifty rose 053 per cent or 1278 points to 2412355Sectorwise buying interest was seen in auto chemicals realty energy and IT stocksNifty Auto Nifty Chemicals Nifty Realty Nifty Oil ampamp Gas and Nifty IT indices were up 161 per cent 094 per cent 089 per cent 072 per cent and 057 per cent respectivelyTop laggards included Hindalco Industries JSW Steel Dr Reddys Laboratories Tata Steel ICICI Bank Asian Paints and SBI LifeAccording to market experts despite key developments in the Gulf region there is no immediate resolution to the energy crisis triggered by the closure of the Strait of HormuzAnalysts also noted that oil prices surged further on reports that the United Arab Emirates may exit OPEC exacerbating supply concernsOil prices climbed on Wednesday extending their recent rally following reports that the United States may prolong its blockade of Iranian ports potentially worsening supply disruptions from the key Middle East producing regionAdditionally US President Donald Trump has directed aides to prepare for an extended blockade of IranBrent crude rose 063 per cent to 11197 per barrel while US WTI crude gained 081 per cent to 10074Global market cues were mixed In Asia Japans Nikkei was down 1 per cent Hong Kongs Hang Seng gained 1 per cent while South Koreas Kospi traded marginally higherIn the US Wall Street ended on a negative note with the Nasdaq falling 090 per cent and the SampampP 500 closing 05 per cent lowerIANS https://dailyworld.in/business/sensex-nifty-gain-in-early-trade-despite-geopolitical-tensions-rising-oil-prices-671592.html Wed, 29 Apr 2026 12:17:00 +0530 https://dailyworld.in/business/monetary-policy-amid-uncertainty-needs-inflationary-expectations-to-be-firmly-anchored-sbi-repor-671593.html New Delhi April 29 IANS If the USIran conflict remains unresolved for a long duration it can make the task of central banks arduous in their endeavour to rein in inflation expectations while minimising growth sacrifice a new SBI Research report said on WednesdaynbspIn uncertain times a good central bank should be cautious about false precision forceful against highcost tail risks systematic enough to preserve credibility flexible enough to adapt and transparent enough that uncertainty about the economy does not become uncertainty about the central bank itselfnbspThis is exactly what might have been conveyed by RBI Governor Sanjay Malhotra in his recent speech at Princeton University and hence this communication may be also construed as a forward guidance said Dr Soumya Kanti Ghosh Group Chief Economic Adviser State Bank of India SBIMonetary policy in times of uncertainty requires inflationary expectations to be firmly anchored This directly implies the crucial importance of ensuring an orderly exchange rate movement in current times through a wellcrafted package with sufficient agility Ghosh stressedOverall Balance of Payments BOP is projected to be in negative territory in FY27 28 billion with trade balance projected to be negative as wellThe capital account is projected to be in surplus of 265 billion on the assumption of positive flows next year said the reportExchange rate can not be construed a shock absorbing mechanism in perpetuity as increased levels of uncertainties and volatilities render it to transform into a passthrough mechanism of imported inflation seeping through multiple channels anchoring inflationary expectations and defeating at times the very purpose of prudent and agile monetary policy makingIt is thus imperative that a comprehensive set of measures are required given that BoP could be negative for the third consecutive year the report mentionedThe level of uncertainty on the external front in general and the West Asia conflict in particular is high at this pointnbspMonetary policy has limited ability to quell the direct effects of a supplyinduced inflation shock it only has operational relevance once secondround effects are apparent These effects are manifested in rising prices and wages when inflation expectations get unanchored which is not evident at present said the reportnbspIANS https://dailyworld.in/business/monetary-policy-amid-uncertainty-needs-inflationary-expectations-to-be-firmly-anchored-sbi-repor-671593.html Wed, 29 Apr 2026 12:21:00 +0530 https://dailyworld.in/business/centre-mulls-higher-biofuel-blends-as-alternative-fuels-raises-vehicle-weight-cap-671608.html New Delhi April 29 The government has proposed widening the definition of automotive fuels to include higher blends of ethanol and biodiesel as part of efforts to promote cleaner and more diversified energy use in the transport sector according to a draft notification issued by the Ministry of Road Transport and Highways The draft seeks amendments to the Central Motor Vehicles Rules 1989 to enable the use of ethanol blends up to 100 per cent E100 and 85 per cent E85 along with biodiesel blends up to 100 per cent B100The notification has proposed changes to hydrogenCNG terminology replacing Hydrogen CN with Hydrogen CNG along with other technical corrections in emission tablesAt present vehicles manufactured after April 2023 are compliant with E20 fuel and are capable of running on ethanol blends of up to 20 per cent with certain models engineered to support higher blendsIn a related move the draft has proposed increasing the permissible gross vehicle weight for certain categories to 3500 kg from the existing 3000 kgThe draft has been issued for public consultation with the government inviting objections and suggestions within 30 days before finalising the amendmentsAccording to officials the changes aimed at aligning regulatory frameworks with evolving fuel technologies and supporting Indiaâs longterm goal of reducing dependence on fossil fuel importsUnion Minister of Road Transport and Highways Nitin Gadkari recently underlined the need to scale up ethanol adoption stating that India should work towards achieving 100 per cent ethanol blending in the future to strengthen energy selfreliance amid global supply uncertaintiesNotably countries such as Brazil have already adopted higher ethanol blending levels offering a potential model for India as it expands its biofuel ecosystemSeparately the government has also taken steps to introduce biofuels in the aviation sectorThe Ministry of Petroleum and Natural Gas has amended norms to allow blending of ethanol in aviation turbine fuel ATF The move is expected to help lower crude oil import dependence and reduce carbon emissions from the aviation sectorIn addition India has set indicative targets for SAF blending aiming for 1 per cent by 2027 2 per cent by 2028 and 5 per cent by 2030 in line with global aviation sustainability goals IANS https://dailyworld.in/business/centre-mulls-higher-biofuel-blends-as-alternative-fuels-raises-vehicle-weight-cap-671608.html Wed, 29 Apr 2026 12:42:00 +0530 https://dailyworld.in/business/we-see-ourselves-as-builders-of-indias-energy-backbone-for-several-decades-sagar-adani-671616.html New Delhi April 29 Sagar Adani Executive Director of renewable energy major Adani Green Energy said on Wednesday that at our core we see ourselves not just as operators of infrastructure but as builders of Indiaâs energy backbone for the next several decades Addressing the Economist Enterprise âResilient Futures Summitâ here Sagar Adani said India has seen a clear consistent and increasingly executionoriented policy directionâFrom accelerating infrastructure development to expanding renewable capacity strengthening transmission networks and enabling longterm investments there has been both clarity of intent and continuity of action And that continuity is a critical enabler of resilienceâ he told the gatheringSagar Adani further stated that our Chairman Gautam Adani has committed over 100 billion towards the energy transition one of the largest privatesector commitments globallyâBut more importantly this is not a set of isolated investments It is an integrated strategy We are building one of the worldâs largest renewable energy portfolios Investing in largescale energy storage expanding transmission networks to move power efficiently across the country and developing green hydrogen ecosystems Beyond energy our presence across ports logistics airports and data centres is part of the same visionâ he explainedSagar Adani stressed that we must reduce structural dependence on imported energyâWe must build an energy backbone anchored in resources that are available within the country because electrification is not just more efficient It is Indiaâs most credible path to longterm stabilityâ he notedHe said that resilience is never built in silos it is built through integrated systemsâEnergy powers industry Logistics enables trade Digital infrastructure drives productivity And when these systems work together you donât just create growth You create durable resilienceâ he emphasisedBecause in the end resilience is not built through intent alone It is built through execution through the ability to create infrastructure at scale at speed and with purpose Sagar Adani said âAnd if India gets this right if we can deliver abundant affordable and clean energy at the scale required we will not just secure our own future We will not just elevate 14 billion people We will help stabilise the future of the global economyâ he added IANS https://dailyworld.in/business/we-see-ourselves-as-builders-of-indias-energy-backbone-for-several-decades-sagar-adani-671616.html Wed, 29 Apr 2026 12:49:00 +0530 https://dailyworld.in/business/elon-musk-accuses-openai-sam-altman-of-betraying-nonprofit-roots-in-court-trial-671618.html New Delhi April 29 Tesla and xAI CEO Elon Musk has testified in a highstakes trial against OpenAI accusing the artificial intelligence firm and its CEO Sam Altman of abandoning the organisationâs founding nonprofit mission in favour of commercial interests Reports claim that the case in a federal court in Oakland centres on Muskâs claim that OpenAI deviated from its original goal of developing safe AI for the benefit of humanity and instead evolved into a profitdriven entity competing with major technology firmsDuring his testimony Musk said he had backed OpenAI in its early years with the understanding that it would operate as a nonprofit and prioritise transparency and safety in AI developmentThe worlds top billionaire said any verdict making it okay to loot a charity could weaken the core of philanthropy in the US He traced his interest in OpenAI to a belief that Google did not care about AI safety as it blazed ahead with the technologyMoreover he expressed concerns that a ruling in favour of OpenAI could set a precedent that undermines the principles of charitable organisationsMusk also told the US court that he played a major role in the early development of the company including helping recruit talent and facilitating connections with major technology partnersHowever OpenAI has defended its structure and argued that the shift to a cappedprofit model and external funding was necessary to meet the high costs associated with advanced AI research The company has maintained that its nonprofit arm continues to retain overall controlThe dispute marks a deepening rift between Musk and the organisation he cofounded in 2015Notably Musk exited the company in 2018 after which OpenAI established a commercial subsidiary and attracted significant investment including from MicrosoftSince then OpenAI has emerged as a major player in the global AI race driven by the success of its chatbot ChatGPTMusk later launched his own AI venture xAI and has sought legal remedies including structural changes at OpenAI though he has indicated that any financial compensation awarded would not be for personal gainThe court is expected to deliver its decision in the coming weeks a ruling that could have broader implications for the governance and funding models of AI companies IANS https://dailyworld.in/business/elon-musk-accuses-openai-sam-altman-of-betraying-nonprofit-roots-in-court-trial-671618.html Wed, 29 Apr 2026 12:50:00 +0530 https://dailyworld.in/business/global-crude-oil-prices-extend-rally-amid-us-blockade-fears-on-iran-671630.html New Delhi April 29 IANS Global crude oil prices extended their upward momentum on Wednesday amid reports that the United States is likely to continue its blockade of Iranian ports raising concerns over prolonged supply disruptions in the Middle EastnbspInternational oil benchmark Brent crude rose 063 per cent to 11197 per barrel while US West Texas Intermediate WTI crude gained 081 per cent to 10074The rise was supported by reports that claim US President Donald Trump has asked aides to prepare for an extended blockade on Irans shipping and energy exportsAccording to reports the move is part of Washingtons broader effort to tighten economic pressure on Tehran by restricting maritime trade linked to its portsAt the last count Brent was trading at 11112 down 013 per cent while WTI was at 9932 lower by 06 per centOn the Multi Commodity Exchange crude oil traded lower declining 088 per cent or Rs 84 to Rs 9401The ongoing restrictions around the Strait of Hormuz a key transit route for nearly onefifth of global oil and LNG supplies continue to support pricesEarlier in April US President Donald Trump announced a ceasefire between USbacked forces and Iran though both sides are yet to reach a formal settlement Iran has continued to curb shipping activity through the Strait while the US blockade of Iranian ports remains in placeThe situation has added to uncertainty in global energy markets particularly as negotiations over Irans nuclear programme and sanctions relief show limited progressEven though there are important developments happening in the Gulf region there is no solution to the energy crisis caused by the closure of the Strait of Hormuz The UAEs decision to quit OPEC might have a bearing on crude prices in the medium term but it is unlikely to ease prices in the near term There are indications that the USIran standoff may continue much longer a market expert saidBrent crude at 110 is negative for India As long as crude prices remain elevated the downside risk to Indias growth and the upside risk to inflation will remain high the expert addedIANS https://dailyworld.in/business/global-crude-oil-prices-extend-rally-amid-us-blockade-fears-on-iran-671630.html Wed, 29 Apr 2026 13:25:00 +0530 https://dailyworld.in/business/gold-silver-trade-on-firm-note-ahead-of-us-fed-decision-671631.html Mumbai April 29 Gold and silver traded on a firm note on Wednesday ahead of the US Federal Reserveâs interest rate decision with both precious metals trading in a narrow range On the Multi Commodity Exchange MCX gold contracts for June 5 opened at Rs 150720 per 10 grams up Rs 693 or 046 per cent from the previous close of Rs 150027 However the yellow metal pared gains and was trading marginally lower by Rs 56 or 004 per cent to Rs 149971 at 1130 am So far in the session it touched an intraday low of Rs 149720 a decrease of 020 per cent or Rs 307 and a high of Rs 151527 an increase of 1 per cent or Rs 1500On the other hand silver contracts for July 3 rose Rs 826 or 034 per cent to begin the session at Rs 243589 per kg compared to the previous close of Rs 242763 At the time of writing this story the white metal was trading at Rs 238738 up Rs 1393 or 06 per centDuring the session silver hit a low of Rs 237607 a jump of 011 per cent or Rs 262 and a high of Rs 238750 an increase of 059 per cent or Rs 1405Moreover in international markets both gold and silver were trading mildly positive COMEX gold was up 019 per cent at 4616 per ounce while COMEX silver gained 081 per cent to 7381 per ounceAccording to a commodity market expert MCX gold is facing resistance near the Rs 150000âRs 151000 levels with price action indicating limited upside unless it sustains above these levelsA sustained move above Rs 151000 could strengthen bullish momentum and push prices towards Rs 152000âRs 153000 while on the downside a break below Rs 149000 may trigger profit booking and drag prices lower the expert saidFor silver the expert said that the metal remains volatile with immediate resistance seen in the Rs 244000âRs 246000 rangeA decisive break below Rs 243000 could accelerate declines towards Rs 241000 levels while a move above resistance may support a recovery the expert said adding that the nearterm outlook for both metals remains cautious amid global macro uncertainty and geopolitical developments IANS https://dailyworld.in/business/gold-silver-trade-on-firm-note-ahead-of-us-fed-decision-671631.html Wed, 29 Apr 2026 13:30:00 +0530 https://dailyworld.in/business/govts-hub-and-spoke-model-transformative-step-for-indian-aviation-air-india-ceo-671638.html New Delhi April 29 IANS Air India on Wednesday hailed Prime Minister Narendra Modis hubandspoke push to develop India into a global aviation hub while announcing plans to launch international routes from Varanasi under the proposed hubandspoke modelnbspTata Groupowned airlines CEO and Managing Director Campbell Wilson described the governments initiative as a transformative step for the aviation sector saying it would strengthen connectivity and enable optimal use of airport infrastructure across the countryThis is a transformative step for Indian aviation We would like to thank Prime Minister for his vision to make India a global aviation hub and develop the entire aviation ecosystem he statedHe credited PM Modis vision for driving the development of a comprehensive aviation ecosystem and boosting Indias position in global air travelWilson also acknowledged the role of the Civil Aviation Ministry and senior officials in advancing the hubandspoke framework and coordinating with stakeholders to ensure operational readiness passenger convenience and securityAs part of its expansion strategy aligned with the model Air India is preparing to introduce international connectivity from Varanasi aiming to improve access for travellers from eastern Uttar Pradesh and neighbouring regionsP Balaji Group Head for Governance Risk Compliance and Corporate Affairs at Air India said the move would help expand Indias global aviation footprint beyond metro cities and make international travel more accessible for passengers from Tier 2 and Tier 3 citiesThe hubandspoke model marks a fundamental shift in Indias aviation landscape from a predominantly end destination market to a global transit ecosystem the airline firm saidEarlier this month Civil Aviation Minister Ram Mohan Naidu chaired a highlevel meeting with key stakeholders to review the readiness of Delhi Airport for implementing hubandspoke operationsThe model will enable seamless connectivity between TierII and TierIII airports developed under the UDAN scheme and international destinations the minister saidHe noted that nearly 35 per cent of international passengers from India currently transit through foreign hubs such as Dubai London and SingaporeOur aim is to reverse this trend by developing globally competitive Indian hubs like Delhi Mumbai Bengaluru Hyderabad Kolkata and Chennai he addedIANS https://dailyworld.in/business/govts-hub-and-spoke-model-transformative-step-for-indian-aviation-air-india-ceo-671638.html Wed, 29 Apr 2026 14:07:00 +0530 https://dailyworld.in/business/adani-group-led-new-corridor-unlocks-eastern-ups-growth-potential-671640.html Hardoi UP April 29 IANS Prime Minister Narendra Modi on Wednesday inaugurated the 594km Ganga Expressway one of Indias largest greenfield infrastructure projects that was completed in less than 35 years connecting Meerut in western Uttar Pradesh with Prayagraj in the eastern region of the countrys most populous state with Adani Road Transport Limited ARTL the roads arm of Adani Enterprises Limited AEL developing 464 km or nearly 80 per cent of the alignmentnbspFor decades eastern UP has remained underdeveloped despite its demographic and economic potential The expressway is set to unlock this potential by improving access reducing distances and integrating the region more closely with the states growth corridors The project will reduce travel time from about 11 hours to six hours and open new economic opportunities across the state The expressway has deployed AIenabled camera systems to provide advanced alerts and enhance road safetyA 35 km stretch in Shahjahanpur district has been developed as a dedicated Emergency Landing Facility ELF for the Indian Air Force IAF facilitating aircraft landing and strengthening the corridors strategic capabilitiesSpanning 12 districts the sixlane expressway expandable to eight lanes will improve access to markets healthcare education and tourism hubs For families this means quicker access to essential services and for businesses faster connections to marketsAdani Road Transport Ltd ARTL deployed over 12000 workers at peak construction The remaining stretch was developed by IRB InfrastructureAccording to the UP government estimates the expressway is expected to generate Rs 2500030000 crore in annual logistics savings create around 3 lakh jobs over the next decade and contribute over Rs 1 lakh crore to the states GDP while improving freight velocity and reducing inventory holding costs across sectorsThe trunk corridor will strengthen trade flows by enabling faster movement of agricultural produce and goods Farmers and small businesses stand to benefit from improved market access and better price realisationThe expressway also strengthens UPs industrial connectivity while improving access to religious destinations such as Prayagraj and Varanasi supporting spiritual tourism and local livelihoods Expected to benefit over 8 crore people the corridor will improve connectivity shorten journeys and support sustained economic growth across UPThe Uttar Pradesh government is establishing 11 industrial corridors across all 12 districts Meerut Hapur Bulandshahr Amroha Sambhal Badaun Shahjahanpur Hardoi Unnao Rae Bareli Pratapgarh and Prayagraj creating millions of jobs over timeThe spiritual tourism economy is expected to get a big boost with better connectivity to 7 major tourist destinations including Garhmukteshwar Kalkidham Belhadevi Chandrika Shakti Peeth and Triveni SangamIANS https://dailyworld.in/business/adani-group-led-new-corridor-unlocks-eastern-ups-growth-potential-671640.html Wed, 29 Apr 2026 14:49:00 +0530 https://dailyworld.in/business/trade-deal-with-us-to-hit-poor-bangladesh-farmers-expert-671643.html New Delhi April 29 The trade deal signed by Bangladesh with the US is nothing but a dumping of genetically modified organisms GMOs through meat and dairy products and will hit the livelihood of poor farmers in the Asian country according to an article in The Daily Star a Dhakabased newspaper The article by Farida Akhter former adviser in the Ministry of Fisheries and Livestock points out that importing meat and dairy products from the US poses unequal trade terms for Bangladesh due to the different economic models in the two countries Livestock is part of the livelihood economy in Bangladesh whereas in the US it is part of an industrial agrocapitalist systemâThe US Reciprocal Trade Agreement was concluded with nine countries Among these Malaysia was the first country to declare the trade deal with the US invalid on March 15 2026 This should prompt Bangladesh to reevaluate the deal or follow the Malaysian decisionâ the article statesIt points out that in the US industrial livestock farming accounts for 21 lakh farms but engages less than two per cent of the population Contrarily in Bangladesh livestock keeping is part of the livelihoods of 8085 per cent of 41 crore households often led by women The meat and milk supply from these sources contributes 16 per cent of agricultural GDPIt further states that Bangladeshâs poor livestock keepers do not receive any subsidy but will have to compete with a heavily subsidised industrial livestock sector The US Department of Agriculture has spent at least 72 billion in subsidies to livestock and seafood producers over the past few decades This asymmetry is critical According to the Food and Agriculture Organization FAO smallholder livestock systems are highly vulnerable to import competition due to limited access to credit technology and state supportIt highlights that the corn and soybeans used for chicken dairy and meat cattle feed in the US are genetically modified US chicken feed also contains meat meal from recycled animal byproducts mainly beef and pork This is a sensitive issue for Bangladesh with over 90 per cent of the population being Muslim Over 90 per cent of the acreage planted with GM soybean varieties in the US has primarily herbicidetolerant traits for chemical weed controlThe article cites a 2019 study by the European Union which states that many weeds have adapted to the widespread use of such chemicals and become resistant These herbicidetolerant weeds are an increasing problem Widespread adoption of the chemicals has led to an accelerating increase in herbicide use and consequently an âarms raceâ in genetic engineering technology and the use of complementary herbicides The increasing amount of herbicides sprayed not only causes substantial environmental problems but also creates new challenges for the risk assessment of health effects since products derived from these plants can introduce new herbicide residues into the food chainIt further states that under the trade agreement with the US Bangladesh is not importing soybean and corn directly they will come through the import of meat and dairy products and other soybean and cornbased products Besides a genetically modified growth hormone called recombinant bovine somatotropin rBST is used to increase cowsâ milk production by 1015 per cent Milk from rBSTtreated cows is used to make ice cream butter cheese and yoghurt IANS https://dailyworld.in/business/trade-deal-with-us-to-hit-poor-bangladesh-farmers-expert-671643.html Wed, 29 Apr 2026 15:20:00 +0530 https://dailyworld.in/business/no-hike-in-petrol-diesel-prices-pib-fact-check-unit-debunks-social-media-post-671652.html New Delhi April 29 IANS The factchecking unit of the Press Information Bureau PIB on Wednesday dismissed as fake a viral message claiming that petrol and diesel prices have been hiked by up to Rs 1250 per litrenbspThe Press Information Bureaus Fact Check unit clarified that no such order has been issued by the Ministry of Petroleum and Natural Gas MoPNGAn order circulating on social media claiming fuel price hikes is fake The Government of India has not issued any such order the PIB Fact Check said in a post on XIt also urged citizens to verify such information only through official sources and avoid sharing unverified claimsThe clarification comes amid the circulation of a purported government notification on social media platforms suggesting a sharp increase in fuel pricesOn Tuesday a senior government official said that there is no proposal at present to increase retail fuel prices seeking to calm concerns amid rising geopolitical tensions in West Asia that have impacted global energy marketsAddressing an interministerial briefing here Sujata Sharma Joint Secretary in the Ministry of Petroleum and Natural Gas said petrol and diesel prices will remain unchanged for now even as the government continues to monitor the evolving situation She also reassured consumers about the adequate availability of essential fuelsLPG petroleum and diesel are available in sufficient amounts and the prices have not increased so please do not panic Sharma said The government has ensured 100 per cent supply for domestic LPG and PNG consumers as well as for CNG used in transportation according to herThe governments reassurance comes at a time when global oil markets remain volatile due to uncertainty in West Asia a key oilproducing regionIANS https://dailyworld.in/business/no-hike-in-petrol-diesel-prices-pib-fact-check-unit-debunks-social-media-post-671652.html Wed, 29 Apr 2026 16:03:00 +0530 https://dailyworld.in/business/india-emerging-as-anchor-of-global-stability-and-growth-global-experts-671657.html New Delhi April 29 India is increasingly being viewed as a key force capable of shaping global peace economic stability and technological progress global experts said on Wednesday Speaking to IANS on the sidelines of the Economist Enterprise âResilient Futures Summit 2026âhere they emphasised Indiaâs rising influence in navigating geopolitical uncertainty strengthening multilateral cooperation and driving innovation in artificial intelligence and emerging technologiesDanny Quah Li Ka Shing professor in economics Lee Kuan Yew School of Public Policy National University of Singapore noted that the evolving nature of global terrorism and shifting trade dynamics have injected significant uncertainty into the world economyQuah emphasised that beyond trade disruptions a deeper concern lies in the erosion of global trust and weakening of multilateral systems that have traditionally underpinned international cooperationâIndia can play a big role in it and if India tries there will be peace People are looking towards India to bring a peace I think people are looking to India to exercise appropriate leadership It is still up to India to decide what appropriateâ he told IANSAdding to this perspective Ian Blatchford Director of the Science Museum in London highlighted Indiaâs distinctive and optimistic approach towards artificial intelligenceâIf you look at public surveys in America and Europe the majority of the population is nervous about artificial intelligence The opposite is true in India India is building capacity for artificial intelligence centres while also thinking deeply about what that means Blatchford saidBlatchford also praised the broader achievements of the Global South particularly Indiaâs developmental trajectoryâThe country is striving to balance economic growth with the need to improve quality of life even as it grapples with challenges such as rising energy demandâ Blatchford told IANSâThis stands in contrast to Western economies that have already benefited from decades of prosperityâ he explained IANS https://dailyworld.in/business/india-emerging-as-anchor-of-global-stability-and-growth-global-experts-671657.html Wed, 29 Apr 2026 16:28:00 +0530 https://dailyworld.in/business/sensex-nifty-end-higher-amid-global-uncertainty-671671.html Mumbai April 29 Indian equity benchmarks ended higher on the Wednesday but surrendered a large portion of their intraday gains as a sharp rise in global crude oil prices weighed on investor sentiment The Nifty closed at 2417765 up 076 per cent or 18195 points while the Sensex settled at 7749636 gaining 079 per cent or 60945 pointsFrom a technical standpoint experts said that on the upside 24200 remains the first resistanceâOn the downside a breach of the 24000â24100 support band could weaken the structure in the short term with 23900 acting as the next supportâ an analyst statedMarket momentum was tempered after Brent crude prices surged over 3 per cent to 11460 per barrel on the Intercontinental ExchangeThe spike in oil prices followed stalled talks between the United States and Iran raising concerns about supply disruptionsAdding to the uncertainty the United Arab Emirates announced its decision to exit the Organization of Petroleum Exporting Countries OPEC effective May 1 further fuelling volatility in global energy marketsDespite the latesession pullback select heavyweights provided support to the indices ITC Tech Mahindra and Maruti Suzuki India emerged as the top gainers in the Nifty helping the benchmarks maintain their positive closingThe broader markets however painted a mixed picture The Nifty MidCap index ended marginally lower by 007 per cent while the Nifty SmallCap index outperformed rising 065 per centSectoral performance remained uneven The Nifty FMCG and Nifty Realty indices led the gains reflecting buying interest in consumption and real estate stocksOn the other hand the Nifty Construction Durable and Nifty Media indices underperformed dragged down by sectorspecific pressures and cautious sentimentAnalysts said that while domestic equities managed to close in the green rising crude prices and geopolitical developments continue to pose nearterm risks potentially capping further upside in the marketsâMarkets will closely track cues from the US Fed policy outcome with sentiment likely to remain volatile amid evolving global developments and sectorspecific earnings trends an analyst stated IANS https://dailyworld.in/business/sensex-nifty-end-higher-amid-global-uncertainty-671671.html Wed, 29 Apr 2026 17:59:00 +0530 https://dailyworld.in/business/epfo-settles-record-831-crore-claims-in-fy26-671675.html New Delhi April 29 In a major boost to ease of access and digital transformation the Employeesâ Provident Fund Organisation EPFO has recorded its highestever claim settlements in the financial year 2025â26 According to official data EPFO settled 831 crore claims during 2025â26 a significant jump from 601 crore claims in FY 2024â25A large portion of these 551 crore claims were advance or partial withdrawals indicating improved accessibility for members to use their provident fund savings for urgent financial needsThe organisation has also strengthened its automation processes Around 7111 per cent of advance claims were processed through the auto mode system where claims are settled within three days up from 5919 per cent in the previous yearThis has significantly reduced manual intervention and improved efficiencyDigital convenience for members has seen notable improvements as 668 crore members filed claims without uploading cheque leaf images 159 crore members linked their bank accounts without employer approval 7055 lakh transfer claims were autoprocessed without member or employer involvement 2484 lakh transfer requests were initiated directly by members and 2934 lakh members independently corrected their profiles and accessed their PF accounts without visiting EPFO officesIn April 2026 alone EPFO settled 6103 lakh claims with nearly 74 per cent of advance claims processed automatically and 9870 per cent of total claims settled within 20 days reflecting faster service deliveryMeanwhile the EPFO in March approved an interest rate of 825 per cent on employeesâ provident fund EPF deposits for 202526 retaining the same rate for the second year in a row according to an official statementThe decision was taken at the 239th meeting of the Central Board of Trustees in the national capital chaired by Union Labour and Employment Minister Mansukh Mandaviya The meeting was attended by Minister of State Shobha Karandlaje Secretary Labour amp Employment Vandana Gurnani and EPFO Chief Ramesh KrishnamurthiFollowing the CBTâs decision the proposed interest rate will be sent to the Ministry of Finance for approval After it is formally ratified the new rate will be credited to the accounts of over seven crore EPFO subscribersThe interest on EPF deposits is calculated monthly but credited to the accounts of subscribers at the end of the financial year However accounts that remain inactive for 36 months do not earn any further interest as they are considered dormant IANS https://dailyworld.in/business/epfo-settles-record-831-crore-claims-in-fy26-671675.html Wed, 29 Apr 2026 18:05:00 +0530 https://dailyworld.in/business/adani-powers-q4-profit-jumps-64-pc-to-rs-4-271-crore-671680.html Ahmedabad April 29 Adani Power Limited APL a part of Adani portfolio of companies on Wednesday reported a sharp 64 per cent yearonyear YoY surge in its consolidated net profit to Rs 4271 crore for the fourth quarter ended March 31 Q4 FY26 driven by improved operational efficiency and lower tax outgo despite a volatile power demand environment The companyâs revenue for the quarter rose 10 per cent to Rs 15989 crore while EBITDA grew a robust 27 per cent to Rs 6498 crore according to its stock exchange filingPower sales volume increased modestly to 272 billion units BU in Q4 FY26 from 264 BU a year ago supported by stable offtake under longterm agreementsFor the full financial year FY26 Adani Power posted a net profit of Rs 12971 crore slightly higher than Rs 12750 crore in FY25 while total revenue stood at Rs 55583 crore impacted by lower merchant tariffsAnnual power generation reached 105 BU with total sales volume rising 34 per cent to 9915 BU as per its regulatory filingThe company continued to strengthen its longterm visibility with expansion capacity tieups reaching 133 GW during the yearIn Q4 alone it secured a 1600 MW longterm power purchase agreement PPA from Maharashtra DISCOM under the DBFOO model taking the share of tiedup operating capacity to about 95 per centManagement highlighted that thermal power continues to play a crucial role in stabilising Indiaâs grid amid rising renewable energy penetrationThe company CEO SB Khyalia noted that despite global energy price shocks and weatherrelated demand fluctuations the company remains on track with its 237 GW expansion plan and expects strong earnings growth in the coming yearsâOur abundant natural resources including coal will power our growth and development for a long timeâ Khyalia notedâAs India progresses quickly to achieve its renewable energy targets thermal power is rising to the challenge of stabilising the grid and meeting peak demandâ he added IANS https://dailyworld.in/business/adani-powers-q4-profit-jumps-64-pc-to-rs-4-271-crore-671680.html Wed, 29 Apr 2026 19:35:00 +0530 https://dailyworld.in/business/regulations-have-become-increasingly-micro-in-nature-arundhati-bhattacharya-at-jgu-report-release-671490.html Mumbai April 28 âRegulations have become highly micro in nature in India Instead we need to have the kind of ecosystem that rewards innovation encourages you to scale fast and fail fast that you can get up again and try againâ said Arundhati Bhattacharya Chairperson amp CEO Salesforce South Asia and Former Chairman State Bank of India She was speaking during the discussions at the Release of the Report on Regulatory Governance The Scope 2026 in MumbaiâRegulators need to develop a business development department I have found that regulators are almost always behind the innovation cycle Overregulation masks weak enforcement Essentially the enactment of the regulatory system is perfect Where we fail is in the execution Also there are regulators now in every single field It is also important that they keep in mind what is specifically required for a country like India to reach its potential growth Growth today is paramount because it provides the ecosystem for people to create businesses and livelihoods Regulators have a big role to play in this and I hope that with the Report on Regulatory Governance and with the kind of interactions that you and the young population over here have you will be able to nudge our regulators towards that goalâ Arundhati Bhattacharya saidIn his welcome Address Prof Dr C Raj Kumar Founding Vice Chancellor OP Jindal Global University said âWe have been assessing how an academic institution can play an active role in creating both knowledge and perspective towards understanding the regulatory landscape These will help create both legal and statutory as well as policy reforms that can help the regulatory landscape addressing some of the challenges that we face through regulations The Centre for Regulatory Governance CRG established at the OP Jindal Global University JGU focuses on strengthening the effectiveness accountability and transparency of regulatory institutions in India through research dialogue and capacitybuilding The inaugural 2026 report titled âRegulatory Governanceê The Scopeâ does not merely set out an aspirational vision it provides a rigorous analysis of regulatory governance spanning virtually all sectors A detailed analysis has been undertaken of the developments in the regulatory space to date initiatives and reforms aimed at improving effectiveness and aligning with global standards enriched by deep insightful thoughts from students experts and faculty We hope this report will invite wider discussion and collaboration as we move from conception to implementation of a renewed regulatory vision for a Viksit Bharat by 2047âThe Government of India in the Union budgets and otherwise has asserted the relevance of enhancing regulatory performance as it has a direct nexus with ease of doing business and building trustbased governance With a projected growth of over 8 per cent in the last quarter of 2025 and initiatives like Digital India which have been actioned to meet the demands of the market the growth of regulatory capacity is not only desirable but also an urgent imperative For this purpose a study of regulators which brings together academics practitioners and the public from an interdisciplinary and comparative lens becomes crucial This scoping report spans multiple regulatory regimes and is an attempt to understand the challenges faced by regulatory authorities and present the reforms undertaken by them to address those challengesAjay Seth Chairman Insurance Regulatory and Development Authority of India IRDAI said âRegulations are essential for promoting competition protecting consumers and ensuring fair markets Regulators also face challenges in balancing efficiency stability and distribution In general all regulatory steps should be guided by principles that are farsighted The way forward has to be through deregulation as well as better regulationsâDuring the presentation of the report Prof Subhomoy Bhattacharjee Director Centre for Regulatory Governance Jindal Global Law School said that there was a strong need to understand how the regulators worked as a system of study and that the new Centre plans to develop an Annual Report with its core being a Regulatory Effectiveness IndexâThis was much before Budget 202526 announced the setting up of a highpowered committee on regulators and the Economic Survey 202526 discussed the need to set up institutions to study regulators It would be developed by the faculty of the University with the elements including a detailed analysis of Indias key regulators and bring in crosscountry comparisons to thus create a space for debate on the functionality and the effectiveness of the regulators The project was helped right at the inception by the active support of each of the regulators we met and we are deeply grateful to our Board of Advisersâ he saidWhen regulators provide a stable investment environment for companies to invest they automatically reduce the economic risk of failure A company must meet the demands of technology consumers and politics as markets around the world undergo transformation owing to these demands To that end it is the regulators that provide the longterm policy predictability as it is comprised of experts who can gauge the needs of the markets in advanceThe discussion was followed by the Technical Session on the theme Making Regulators Responsive to Citizens and included Archana Bhutani Partner amp India Regulatory Leader Deloitte India Pradeep Jayaraman CEO Adani Ports amp SEZ KG Krishnamoorthy Rao Managing Director amp CEO Generali Central Insurance and was moderated by Prof Avirup Bose Professor Jindal Global Law SchoolDuring the discussion it was opined that the growth of regulators can be attributed in large part to the growth of globalisation As businesses crossed borders it became necessary to formulate policies that provided certainty especially for capital repatriationThe panel provided a deeper insight into the regulatory models of the country especially with new developments like machine learning artificial intelligence and climate change and its impact on various sectors like energy healthcare power telecommunications fintech and coal In this age of AI regulators must defend themselves and prove that they are strategic assets that are necessary for providing a better bargaining power to the specific sector and to citizensThe Vote of Thanks was given by Prof Meghmala Mukherjee Assistant Professor Jindal Global Law School IANS https://dailyworld.in/business/regulations-have-become-increasingly-micro-in-nature-arundhati-bhattacharya-at-jgu-report-release-671490.html Tue, 28 Apr 2026 15:59:00 +0530 https://dailyworld.in/business/chandrababu-naidu-ashwini-vaishnaw-lay-foundation-for-google-cloud-ai-hub-in-vizag-671492.html Visakhapatnam April 28 Andhra Pradesh Chief Minister N Chandrababu Naidu along with Union Minister for Electronics and Information Technology Ashwini Vaishnaw laid the foundation stone for the Google Cloud India AI Hub in Visakhapatnam marking the beginning of a new era in the stateâs technological journey Google is going to invest 15 billion in the project making it one of the largest foreign direct investments FDIs in Indiaâs historyThe data centre with a total capacity of 1 gigawatt will be developed across nearly 600 acres in Tharluwada Adavivaram and Rambilli regionsSpeaking at the groundbreaking ceremony Chandrababu Naidu urged Google and its partners in the project AdaniConneX and Airtel Nxtra to complete the project for inauguration by September 2028 He assured all the help from the state government for the early completion of the projectHe termed Googles arrival as a gamechanger not just for Visakhapatnam but for the entire state of Andhra PradeshHe recalled that 30 years ago when he laid the foundation for Cyberabad as an IT City it evolved into a hub for wealth creationStating that this will be the largest data centre in Asia the Chief Minister said Andhra Pradesh will emerge as the AI data gateway for the nationGoogle which began as a search engine is now transforming into a growth engine for India While everyone typically searches on Google in this instance Google searched and chose Andhra Pradesh he saidNaidu stated that Visakhapatnam has all the advantages and termed it the best destination for the mega project Assuring that there is no shortage of water he promised to bring water from the Godavari River to the city within 60 daysHe said the government would leverage the Google AI Data Centre to enhance the Speed of Governance that the government is committed to deliveringIn addition to the four secretaries at the CMO a new AI assistant will now assist me personally in ensuring effective and good governance he saidHe exuded confidence that with the arrival of Google the youth of Visakhapatnam will gain access to largescale employment opportunitiesChandrababu Naidu also announced that Bhogapuram International Airport will be inaugurated by Prime Minister Narendra Modi in JulyThe ceremony was attended by Union Ministers Kinjarapu Rammohan Naidu Pemmasani Chandrasekhar and Bhoopati Raju Srinivasa Varma state ministers Nara Lokesh Dola Sree Bala Veeranjaneya Swamy MP M Bharat US Consul General Laura E Williams Google Global Infrastructure and Google Cloud Vice President Vikas Kohli Adani Group Director Jeet Adani Adani Ports amp SEZ Ltd Managing Director Karan Adani Bharti Enterprises Vice Chairman Rakesh Mittal and othersUnion Minister Vaishnaw noted that as a country India missed out on many technology cycles and that the vision of Prime Minister Narendra Modi is that India should take a lead in the new cycle of technologiesHe said while India became the IT services leader thanks to the initiatives in the 1990s and early 2000s it missed out on manufacturing of semiconductors servers laptops and mobile phones but the situation has changed over the last one decade with the launch of the Make in India initiativeFrom negligible electronic manufacturing today the mobile phone has become the single most exported commodity in the country overtaking gems and jewellery textiles and diesel he saidVaishnaw said that the Prime Minister has the vision to make India a major electronic manufacturing hub in the entire world In todayâs world of geopolitical uncertainties the world is looking for a trusted partner where IT rights will be protected and security concerns will be met This is possible only in India he saidAll global users of electronics were looking at India as a major sourcing design development and manufacturing hub for components modules submodules and finished products he said urging Google to focus on manufacturing their servers in India These data centres require a large number of servers We have the capability of manufacturing servers At least five companies are manufacturing highquality servers in IndiaHe urged the industry to collaborate in the AI Mission in improving power efficiency and also the efficiency in water consumptionThe central minister thanked Google for three subsea cables which will land in VizagHe noted that one cable will go to Australia via the Pacific Ocean to the West Coast of the US the second to the Middle East Europe and the US while the third will go to Cape of Good Hope and from there straight to the USGoogle Global infrastructure and Google Cloud Vice President Kohli stated that this is Googleâs largest commitment to Indiaâs digital future He termed it a foundation step towards realising the vision of Viksit Bharat 2047This project represents a 15 billion blueprint to deliver a fullstack AI ecosystem he said adding that they were proud to bring Googleâs bestinclass AI stack to India to help accelerate Indiaâs digital transformationHe noted that this hub includes the AmericaIndia connect initiative to deliver highcapacity subsea connectivity that India needs to lead the global AI economyBy establishing Visakhapatnam as an international subsea gateway we will add vital diversity to the existing landings in Mumbai and Chennai increasing the resilience of Indiaâs digital backbone and improving economic security he added IANS https://dailyworld.in/business/chandrababu-naidu-ashwini-vaishnaw-lay-foundation-for-google-cloud-ai-hub-in-vizag-671492.html Tue, 28 Apr 2026 16:00:00 +0530 https://dailyworld.in/business/maruti-suzuki-indias-q4-net-profit-dips-64-pc-to-rs-3-659-crore-announces-rs-140-dividend-671494.html New Delhi April 28 IANS Leading automaker Maruti Suzuki India Ltd on Tuesday reported more than 6 per cent decline in consolidated net profit for Q4 FY26 on yearonyear basis even as revenue increased according to its exchange filingnbspThe automaker posted a consolidated net profit of Rs 3659 crore for the JanuaryMarch quarter down 64 per cent yearonyear from Rs 3911 crore and lower by 57 per cent quarteronquarter from Rs 3879 croreIn terms of revenue the company saw a rise of 28 per cent yearonyear to Rs 524625 crore in the fourth quarter from Rs 40920 crore and a 5 per cent quarteronquarter increase from Rs 49904 croreFor the full financial year FY26 the automaker reported a consolidated PAT of Rs 14619 crore up 08 per cent yearonyear from Rs 145002 crore while revenue from operations increased 20 per cent yearonyear to Rs 183316 crore from Rs 152913 croreThe companys total assets rose to Rs 148881 crore as of March 31 2026 compared with Rs 131016 crore a year earlier Meanwhile noncurrent assets stood at Rs 1099236 croreApart from the earnings the company announced a final dividend of Rs 140 per share for FY26 compared with Rs 135 per share in the previous yearEarlier the company recorded an annual production volume of 234 lakh units in FY26In addition the company reported its highestever quarterly sales of 676209 units in Q4 FY25Domestic sales stood at 538994 units while exports touched an alltime high of 137215 units the company said in filingFollowing the financial performance shares of Maruti Suzuki came under pressure declining almost 3 per cent to Rs 12831 on the BSE Later the stock settled at Rs 12880 down 261 per cent on the exchangeMoreover the auto stock has declined 20 per cent in the last six months and 22 per cent so far this yearIANS https://dailyworld.in/business/maruti-suzuki-indias-q4-net-profit-dips-64-pc-to-rs-3-659-crore-announces-rs-140-dividend-671494.html Tue, 28 Apr 2026 16:02:00 +0530 https://dailyworld.in/business/teamlease-services-slapped-with-epfos-rs-185-crore-notice-stock-falls-3-pc-671495.html New Delhi April 28 Staffing services provider TeamLease Services has received a showcause notice from the Employees Provident Fund Organisation EPFO over an alleged fund management dispute involving about Rs 185 crore the company said in an exchange filing on Tuesday The notice dated April 13 and received on April 23 flagged certain contraventions related to the administration and management of funds by the Employeesâ Provident Fund TrustAccording to the filing major observations included investment losses losses on the sale of bonds and debentures alleged misappropriation of reserves and certain employeerelated amounts reflected as recoverable for which supporting documentation has been soughtThe total financial implication cited in the notice stood at Rs 18458 crore including interest which the company has disputedThe company is currently evaluating the notice and will take appropriate legal action We remain committed to ensuring full compliance with applicable laws and regulatory requirements it saidHowever the company noted a delay of five days in disclosing the development due to administrative reasons and the time taken to assess the materiality of the noticeIt added that it had earlier sought clarification from the regional provident fund office under which employers were allowed to fund only the shortfall reflected in the balance sheet and the same had been addressed in March 2022The company said it is working closely with the authorities to resolve the issueFollowing the development shares of TeamLease Services fell as much as 32 per cent during intraday trade to around Rs 1210 apiece on NSE The stock was later trading at Rs 123330 down 134 per cent from the previous closeThe stock has declined about 30 per cent over the past six months 20 per cent so far this year and around 35 per cent over the past one year Over the longer term it has fallen nearly 60 per cent in the last five years IANS https://dailyworld.in/business/teamlease-services-slapped-with-epfos-rs-185-crore-notice-stock-falls-3-pc-671495.html Tue, 28 Apr 2026 16:02:00 +0530 https://dailyworld.in/business/adaniconnex-to-build-rs-83-000-crore-ai-ready-data-centre-hub-in-visakhapatnam-671508.html Visakhapatnam April 28 AdaniConneX the Adani Groupâs data centre joint venture with EdgeConneX is leading the development of a 1 GW AIready data centre platform in Visakhapatnam Andhra Pradesh it was announced on Tuesday Backed by an investment of approximately 10 billion from the Adani Group the project reflects the Groupâs longterm commitment to building digital infrastructure at scale to support Indiaâs next phase of growthAs the lead infrastructure partner AdaniConneX is developing scalable AIready data centre infrastructure supported by a robust and integrated energy ecosystemLeveraging the Adani Groupâs capabilities across energy infrastructure the platform will ensure reliable sustainable and longterm power availability to meet the demands of highdensity AI and cloud workloadsThe phased rollout aligns with hyperscale demand creating an energysecure futureready ecosystem that enables the growth of digital services supports enterprise innovation and strengthens Indiaâs AI ambitionsBeyond infrastructure the development is expected to contribute to the economic and ecosystem growth of Andhra Pradesh positioning the state as a key hub in the global digital landscape while supporting Indiaâs broader digital and energy transitionThis project is part of the Adani Groupâs broader commitment to invest 100 billion over the next decade in building Indiaâs AI energy and digital infrastructure backboneMeanwhile addressing the gathering Union Minister Ashwini Vaishnaw said that the groundbreaking ceremony of India AI Hub in Visakhapatnam reflects Prime Minister Narendra Modiâs vision of making India a global leader in technologyGoogle formally launched construction of its largest AIfocused investment in the country marking a major step in its longterm commitment to Indiaâs digital and economic transformationThe project being developed in collaboration with AdaniConneX and Nxtra by Airtel is set to become a cornerstone of the countryâs expanding digital infrastructureâThis marks the start of construction on the companyâs largest investment in Indiaâs digital future to date as well as reinforces Googleâs commitment to being a longterm partner and catalyst for Indias economic and environmental resilienceâ it said IANS https://dailyworld.in/business/adaniconnex-to-build-rs-83-000-crore-ai-ready-data-centre-hub-in-visakhapatnam-671508.html Tue, 28 Apr 2026 17:05:00 +0530 https://dailyworld.in/business/adaniconnex-to-build-1-gw-ai-ready-data-centre-hub-in-visakhapatnam-671510.html Visakhapatnam April 28 AdaniConneX the Adani Groupâs data centre joint venture with EdgeConneX is leading the development of a 1 GW AIready data centre platform in Visakhapatnam Andhra Pradesh it was announced on Tuesday Backed by an investment of approximately 10 billion from the Adani Group the project reflects the Groupâs longterm commitment to building digital infrastructure at scale to support Indiaâs next phase of growthAs the lead infrastructure partner AdaniConneX is developing scalable AIready data centre infrastructure supported by a robust and integrated energy ecosystemLeveraging the Adani Groupâs capabilities across energy infrastructure the platform will ensure reliable sustainable and longterm power availability to meet the demands of highdensity AI and cloud workloadsThe phased rollout aligns with hyperscale demand creating an energysecure futureready ecosystem that enables the growth of digital services supports enterprise innovation and strengthens Indiaâs AI ambitionsBeyond infrastructure the development is expected to contribute to the economic and ecosystem growth of Andhra Pradesh positioning the state as a key hub in the global digital landscape while supporting Indiaâs broader digital and energy transitionThis project is part of the Adani Groupâs broader commitment to invest 100 billion over the next decade in building Indiaâs AI energy and digital infrastructure backboneMeanwhile addressing the gathering Union Minister Ashwini Vaishnaw said that the groundbreaking ceremony of India AI Hub in Visakhapatnam reflects Prime Minister Narendra Modiâs vision of making India a global leader in technologyGoogle formally launched construction of its largest AIfocused investment in the country marking a major step in its longterm commitment to Indiaâs digital and economic transformationThe project being developed in collaboration with AdaniConneX and Nxtra by Airtel is set to become a cornerstone of the countryâs expanding digital infrastructureâThis marks the start of construction on the companyâs largest investment in Indiaâs digital future to date as well as reinforces Googleâs commitment to being a longterm partner and catalyst for Indias economic and environmental resilienceâ it said IANS https://dailyworld.in/business/adaniconnex-to-build-1-gw-ai-ready-data-centre-hub-in-visakhapatnam-671510.html Tue, 28 Apr 2026 17:07:00 +0530 https://dailyworld.in/business/no-plan-to-hike-fuel-prices-govt-assures-amid-west-asia-tensions-671512.html New Delhi April 28 IANS The Centre on Tuesday said there is no proposal at present to increase retail fuel prices seeking to calm concerns amid rising geopolitical tensions in West Asia that have impacted global energy marketsnbspAddressing an interministerial briefing Sujata Sharma Joint Secretary in the Ministry of Petroleum and Natural Gas said petrol and diesel prices will remain unchanged for now even as the government continues to monitor the evolving situationLPG petroleum and diesel are available in sufficient amounts and the prices have not increased so please do not panic Sharma saidShe also reassured consumers about the adequate availability of essential fuelsSharma acknowledged that imports of crude oil liquefied petroleum gas LPG and piped natural gas PNG have been affected due to the ongoing crisis in West Asia but stressed that steps have been taken to ensure minimal disruptionThe government has ensured 100 per cent supply for domestic LPG and PNG consumers as well as for CNG used in transportation she statedWhile commercial LPG supplies have been partially impacted availability has been restored to around 70 per cent with priority being given to critical sectors such as hospitals and educational institutionsEssential industries including pharmaceuticals steel seeds and agriculture are also being prioritised to avoid any major supply bottlenecks she saidIn a bid to support vulnerable sections the supply of 5kg free trade LPG cylinders commonly used by migrant labourers has nearly doubled Sharma addedThe governments reassurance comes at a time when global oil markets remain volatile due to uncertainty in West Asia a key oilproducing regionOfficials said the situation is being closely tracked to maintain supply stability and prevent any immediate impact on domestic fuel pricesIANS https://dailyworld.in/business/no-plan-to-hike-fuel-prices-govt-assures-amid-west-asia-tensions-671512.html Tue, 28 Apr 2026 17:10:00 +0530 https://dailyworld.in/business/ed-attaches-additional-assets-of-anil-ambani-group-worth-rs-3-034-crore-in-rcom-case-671515.html New Delhi April 28 The Enforcement Directorate ED has attached another set of assets valued at Rs 303490 crore in the Reliance Communications RCom Ltd bank fraud case bringing the total attachment in Reliance Anil Ambani Group cases to over Rs 19344 crore according to an agency statement issued on Tuesday The special investigation team SIT constituted on the directions of the Supreme Court is investigating the Reliance Anil Ambani Group RAAG cases involving diversion and laundering of bank and public fundsED has provisionally attached assets worth Rs 303490 crore under section 5 of the Prevention of Money Laundering Act PMLA in the Ms Reliance Communications Ltd RCom bank fraud case The provisional attachment under PMLA has been made to prevent dissipation of assets and to protect the interests of banks and the public the statement saidThe ED investigation was initiated based on multiple CBI FIRs registered on the complaints of State Bank of India Punjab National Bank Bank of Baroda and Life Insurance Corporation of India against RCom Anil D Ambani and othersRCom and its group companies availed loans from domestic and foreign lenders of which a total amount of Rs 40185 crore is outstandingED investigation revealed certain assets of the Promoter Group including a flat in the Usha Kiran Building Mumbai a farmhouse in Khandala Pune and a land parcel in Sanand Ahmedabad Besides 771 crore shares of Reliance Infrastructure Ltd held by Ms RiseE Infinity Pvt Ltd were also attached RiseE Infinity is a group entity of Anil Ambani under the RiseE Trust umbrella which is a private family trust of the members of Anil Ambaniâs family The RiseE Trust was set up to ensure wealth preservation and resource generation by aggregation of properties in RiseE Trust and shield it from the personal liabilities of Anil Ambani in the form of personal guarantees extended by him to lender banks against the loans sanctioned to RCom The properties were intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA the statement saidUnder Section 8 of PMLA confiscated property would be restored to legitimate claimants who suffered loss including victim banks Thus the attachment preserves value so that after due legal process public money can be recovered and restored to banks and ultimately the general public in accordance with the law The ED is committed to safeguarding the financial system and protecting public funds by identifying and attaching assets involved in money laundering the statement saidFurther investigation is in progress in the case the statement added IANS https://dailyworld.in/business/ed-attaches-additional-assets-of-anil-ambani-group-worth-rs-3-034-crore-in-rcom-case-671515.html Tue, 28 Apr 2026 17:13:00 +0530 https://dailyworld.in/business/indian-stock-markets-trade-lower-amid-us-iran-tensions-surging-crude-671426.html Mumbai April 28 Domestic equity markets traded lower in early morning session on Tuesday as investors remained cautious amid persistent geopolitical tensions between the US and Iran Sensex declined as much as 042 per cent or 330 points to hit an intraday low of 76973 while Nifty slipped 038 per cent or 93 points to trade at 23999 in the early hoursOn the sectoral front Nifty PSU Bank Nifty Private Bank Nifty Pharma Nifty Healthcare and Nifty FMCG indices were among the top laggards falling up to 1 per cent In contrast Nifty MidSmall IT and Telecom Nifty MidSmall Healthcare Nifty Consumer Durables and Nifty Realty indices were among the gainersAmong Nifty constituents Eternal Bajaj Auto Axis Bank HDFC Life IndiGo Bajaj Finserv and Trent were the top losersHowever broader markets showed resilience with smallcap microcap and midcap indices trading up to nearly 1 per cent higher Nifty Smallcap 250 Nifty Microcap 250 and Nifty Midcap 150 were in the greenEarlier in the session the 30share Sensex opened at 7709479 while the 50share Nifty began at 2404990A market expert said that Nifty remains rangebound with support at 23800â23700 and resistance at 24200â24300 A decisive move above 24500 is required to sustain bullish momentumBanking stocks are showing signs of consolidation while pharma and FMCG may see selective buying in a volatile market the expert addedGlobal sentiment remained fragile as market participants closely tracked developments in the ongoing USIran conflict and its potential impact on energy markets and global tradeAccording to reports US President Donald Trump was not satisfied with Iranâs proposal as it did not address the countryâs nuclear programme âHe doesnât love the proposalâ a US official saidTrump had discussed the proposal with his top national security aides The conflict remains at a stalemate with energy supplies from the region affectedHowever Iran has reportedly offered to reopen the Strait of Hormuz if the US lifts its blockade and hostilities endIn the commodities market Brent crude rose 1 per cent to 10946 per barrel while US West Texas Intermediate WTI gained 122 per cent to 9755Asian markets traded on a mixed note with Japanâs Nikkei down about 1 per cent while South Koreaâs Kospi was up around 1 per cent Hong Kongâs Hang Seng was trading nearly 1 per cent lowerOn Wall Street US markets ended marginally higher with the SampP 500 gaining 012 per cent to 717393 and the Nasdaq rising 020 per cent to 2488710 IANS https://dailyworld.in/business/indian-stock-markets-trade-lower-amid-us-iran-tensions-surging-crude-671426.html Tue, 28 Apr 2026 09:58:00 +0530 https://dailyworld.in/business/airlines-may-cut-capacity-after-may-atf-revision-report-671455.html New Delhi April 28 Indian airlines are likely to take a call on capacity cuts after the next ATF revision as a sharp increase in jet fuel prices could force them to rationalise operations particularly on less profitable routes according to a report on Tuesday Domestic carriers are in a waitandwatch mode as they assess the impact of rising Aviation Turbine Fuel ATF prices and prepare for possible changes following the next price revision due in May NDTV Profit reportedThe report said industry sources indicated that airlines may reduce frequencies on lowyield routes with shorthaul sectors expected to face the most significant impact if fuel costs rise substantially Routes with consistently low passenger occupancy may also see cutsAirlines are also evaluating multiple scenarios including potential changes to the governmentimposed cap on ATF price increasesIf the current 25 per cent cap on monthly price hikes is withdrawn domestic flight cancellations could rise sharply the report saidAt the same time the government has taken steps to cushion the aviation sector from the impact of the West Asia crisis These include a 25 per cent reduction in parking and landing charges at major airports along with capping the increase in ATF prices at 25 per cent for AprilDespite these measures airlines remain cautious and continue to closely monitor fuel price movements before making any network or capacity adjustmentsIndiaâs heavy reliance on oil imports which account for over 85 per cent of its fuel needs has heightened vulnerability to geopolitical disruptions including the recent West Asia crisis that has already led to supply concerns in parts of the countryMeanwhile the government has raised excise duties on petroleum products including highspeed diesel with immediate effect according to a notification issued by the Ministry of FinanceThe government also increased duty on ATF to Rs 42 per litre from Rs 295 per litre earlier while export duty on petrol remained unchanged at nil Separately oil marketing companies had raised ATF prices IANS https://dailyworld.in/business/airlines-may-cut-capacity-after-may-atf-revision-report-671455.html Tue, 28 Apr 2026 12:07:00 +0530 https://dailyworld.in/business/we-committed-100-billion-to-build-a-platform-that-supports-indias-ai-growth-jeet-adani-671458.html Visakhapatnam April 28 For India to lead in the age of artificial intelligence AI it must build infrastructure at scale within the country and this is why we have committed 100 billion to build a platform that supports Indiaâs AI growth Jeet Adani Director Adani Group said on Tuesday Addressing an event to lay the foundation for the Google AI Data Centre here Jeet Adani said we are building an integrated platform across energy generation transmission digital networks and data centres powered by clean and reliable energy and designed for scale speed and resilienceâOur role is to enable the ecosystem that AI depends on Because the future of AI will be shaped by infrastructure and enabled by energy For AI to transform economies and societies it must be affordable And affordability begins with energyâ he told the gatheringGoogle is going to invest 15 billion in the project making it one of the largest foreign direct investments in Indiaâs historyJeet Adani further stated that energy efficiency and scale will determine how quickly AI can move from experimentation to widespread adoptionâAs the cost of computing falls the cost of intelligence falls When intelligence becomes more affordable access expands Innovation accelerates Growth becomes more inclusive That is the real promise of AIâ he notedIndia is building the infrastructure that could one day power the worldâs digital intelligence and the Adani Group and Google Cloud which are constructing a huge 15 billion AI data centre campus the largest outside the United States marks a turning pointDeveloped with leading partners like AdaniConneX it will be built with the same cuttingedge infrastructure that powers Google products like Search Workspace and YouTubeAccording to Jeet Adani India will architect intelligence and India will democratise intelligence by expanding access to itâBecause the true power of AI will be measured by how widely it can be used And that journey begins hereâ he addedâJust as Bengaluru defined Indiaâs technology revolution Visakhapatnam is going to anchor Indiaâs AI revolution Visakhapatnam is positioning itself to help define that futureâ Jeet Adani notedToday India stands at approximately 13 GW of data centre capacityâJust for context here in Visakhapatnam we are envisioning nearly 1 GW in a single location That contrast reflects the scale of transformation ahead India is entering a new league of AI infrastructure Indiaâs advantage is very clear Trust Execution And most importantly energyâ he emphasised IANS https://dailyworld.in/business/we-committed-100-billion-to-build-a-platform-that-supports-indias-ai-growth-jeet-adani-671458.html Tue, 28 Apr 2026 12:36:00 +0530 https://dailyworld.in/business/first-lng-tanker-crosses-hormuz-chokepoint-after-weeks-of-disruption-report-671463.html New Delhi April 28 IANS The first liquefied natural gas LNG shipment since the West Asia conflict began on February 28 appeared to have traversed the Strait of Hormuz signalling a potential breakthrough at a key global energy chokepoint reports said on Tuesday citing shiptracking datanbspThe LNG tanker Mubaraz which loaded cargo from Abu Dhabi National Oil Cos Das Island facility in early March was passing the southern tip of India according to the shiptracking dataThe vessel had remained idle inside the Persian Gulf for weeks and had stopped transmitting signals around March 31 before reappearing west of India on MondayGlobal energy markets have been closely monitoring traffic through the Strait of Hormuz through which roughly onefifth of the worlds LNG supply passesMoreover ship movements had dropped to near zero over the previous two months amid escalating tensions and reciprocal blockades imposed by Iran and the United StatesAt the time the Mubaraz was signalling a terminal in China as its destination and was estimated to arrive by May 15 the data showedEarlier in April tracking data had indicated an empty LNG tanker exiting the Strait of HormuzHowever no loaded LNG cargo had been confirmed to have made the transit until thenSeveral vessels carrying Qatari LNG had approached the strait in recent weeks but had turned back amid persistent geopolitical tensionsNotably earlier in the month Indian merchant vessel Green Asha had crossed the Strait of Hormuz and safely reached Jawaharlal Nehru Port Authority JNPA in Navi Mumbai with a cargo of 15400 tonnes of liquefied petroleum gas LPG according to the governmentUncertainty around the geopolitical situation also remained with US President Donald Trump reportedly not satisfied with Irans proposal as it did not address the countrys nuclear programmeHe doesnt love the proposal a US official saidTrump had discussed the proposal with his top national security aides The conflict remained at a stalemate with energy supplies from the region affectedHowever Iran has reportedly offered to reopen the Strait of Hormuz if the US lifts its blockade and hostilities endIn addition oil prices remain elevated with Brent crude rose 1 per cent to 10946 per barrel while US West Texas Intermediate WTI gained 122 per cent to 9755IANS https://dailyworld.in/business/first-lng-tanker-crosses-hormuz-chokepoint-after-weeks-of-disruption-report-671463.html Tue, 28 Apr 2026 12:57:00 +0530 https://dailyworld.in/business/libya-oil-discovery-reflects-growing-global-footprints-of-indian-energy-firms-govt-671464.html New Delhi April 28 IANS The government on Tuesday said the recent oil and gas discovery in Libya by Indian oil marketing companies OMCs Oil India Limited OIL and Indian Oil Corporation Limited IOCL with local operators reflects the growing global footprint of the countrys energy firms and their expanding presence in overseas assetsnbspIn a post on social media platform X the Ministry of Petroleum and Natural Gas MoPNG congratulated OIL and IOCL which were part of an Indian consortium with SIPEX Algeria as the operator for the discovery in the Ghadames BasinThe discovery was made in contract area 9596 where the well was drilled to a final depth of 8440 feet the ministry saidDuring testing the well achieved production of 13 million cubic feet of gas and 327 barrels of condensate per day from the Awynat Wanin and Awyn Kaza formationsThe government also noted that the discovery showed the importance of strategic international partnerships and highlighted Indias push to strengthen energy security through the acquisition of overseas assets by national oil companiesIt also wished the consortium continued success in unlocking greater value from the asset and described the find as a promising development for Indias global energy presenceEarlier this month during the Budget session the government informed that it had set a target to increase domestic crude oil production to 35 million metric tonnes by 2030 from about 29 million tonnes at present to meet rising demand for petroleum products in the countryUnion Petroleum and Natural Gas Minister Hardeep Singh Puri had said that the government was taking multiple steps to boost domestic output and reduce dependence on crude oil importsThese included policies for early monetisation of hydrocarbon discoveries under the production sharing contract regime the Discovered Small Field Policy the Hydrocarbon Exploration and Licensing Policy HELP and the extension of production sharing contracts he said in a written reply in the Lok SabhaOn Tuesday OIL shares were increased by more than 4 per cent at an intraday high of Rs 497 on the BSE IOCL shares were trading on a flat note at Rs 145 down 03 per centIANS https://dailyworld.in/business/libya-oil-discovery-reflects-growing-global-footprints-of-indian-energy-firms-govt-671464.html Tue, 28 Apr 2026 13:07:00 +0530 https://dailyworld.in/business/gold-silver-prices-decline-up-to-2-pc-as-west-asia-conflict-push-crude-above-110-671469.html Mumbai April 28 Gold and silver traded sharply lower on Tuesday declining by up to 2 per cent amid ongoing tensions between the US and Iran and a rise in crude oil prices which breached the 110 mark again On the Multi Commodity Exchange MCX gold futures June 5 witnessed selling pressure The yellow metal fell to an intraday low of Rs 150450 per 10 grams down 083 per cent or Rs 1271 while it touched a high of Rs 151802 up 005 per cent or Rs 81At the last count gold was trading at Rs 150600 down Rs 1121 or 074 per centMeanwhile silver futures May 5 also remained under pressure during the session The white metal slipped to an intraday low of Rs 236600 per kg a decline of 216 per cent or Rs 5224 while the high was recorded at Rs 241250 down 023 per cent or Rs 574At the last count silver was trading at Rs 237600 down Rs 4224 or 175 per centA commodity market expert said the nearterm outlook for precious metals remains cautious amid volatility and geopolitical uncertaintyMCX Gold is witnessing selling pressure near resistance levels with Rs 152000 acting as a key hurdle A sustained move above this level could push prices higher while a break below Rs 151000 may lead to extended profit bookingâ the expert saidâFor MCX Silver prices are hovering around Rs 240000 indicating weak buying interest A sustained move above Rs 242000âRs 244000 could support recovery while a break below Rs 240000 may accelerate the downsideâ the expert addedIn the international market gold and silver prices also declined On COMEX gold was down 027 per cent at 4680 per ounce while silver fell 073 per cent to 7448 per ounceMoreover gold has delivered returns of over 40 per cent in dollar terms over the past one year while silver has doubled investors money with an increase of 125 per centTensions between the US and Iran have remained elevated with peace talks witnessing significant volatilityThe US has rejected Iranâs proposal which included reopening the Strait of Hormuz and holding talks on its nuclear programme after the lifting of US maritime restrictionsHowever the US is understood to be seeking a comprehensive resolution to both issues simultaneously indicating continued uncertainty in negotiationsIn addition crude oil prices surged towards their 52week highs on Tuesday with Brent crude touching an intraday high of 11131 per barrel up about 3 per cent from the previous close Similarly US West Texas Intermediate WTI crude jumped as much as 253 per cent to 9881 IANS https://dailyworld.in/business/gold-silver-prices-decline-up-to-2-pc-as-west-asia-conflict-push-crude-above-110-671469.html Tue, 28 Apr 2026 13:17:00 +0530 https://dailyworld.in/business/mere-purchase-not-enough-for-prosecution-in-property-fraud-case-sc-671481.html New Delhi April 28 IANS The Supreme Court has quashed criminal proceedings against a purchaser arraigned in a decadesold forged Will and property fraud case from Tamil Nadu holding that mere purchase of disputed property for valuable consideration without specific material showing involvement in forgery or conspiracy cannot justify criminal prosecutionnbspnbspA Bench of Justices Vikram Nath and Sandeep Mehta set aside a Madras High Court order which had refused to quash proceedings against the appellant S Anand in connection with a 2004 FIR alleging fabrication of a Will and fraudulent sale of ancestral property in Karur districtAllowing the appeal the apex court said that there was not even an iota of evidence indicating that the appellant had played any role in the alleged fabrication of the disputed Will dated September 12 1988 or had knowledge of the alleged forgery at the time of purchaseThe appellant being a purchaser of the subject property for valuable consideration cannot in the facts of the present case be considered to be the person who offered fraudulent inducement the Justice Nathled Bench observedThe case arose from allegations by the complainant that his deceased brother in conspiracy with other accused persons fabricated their fathers Will and used it to execute sale deeds in favour of purchasers including the appellant thereby depriving lawful heirs of property rightsAfter investigation police filed a charge sheet alleging offences under Sections 467 468 471 420 and 120B of the Indian Penal Code IPC against multiple accused including purchasers of the propertyExamining the material on record the Supreme Court recorded that the appellant was neither connected to the alleged creation of the forged Will nor party to earlier transactions that formed the basis of the prosecutions conspiracy theoryReiterating settled principles governing criminal liability in property disputes the top court held that criminal prosecution for cheating cannot ordinarily be sustained against a bona fide purchaser unless there is clear evidence of fraudulent intent or active conspiracyNeither the FIR nor the impugned order discloses availability of any tangible material to substantiate the allegation that the appellant had conspired in the preparation of the alleged forged Will it saidThe apex court added that where property is sold by a person claiming ownership the aggrieved party in cases of fraudulent misrepresentation is generally the purchaser not third parties unless direct deception is establishedAs a matter of fact even if the allegation that the Will was forged is found to be substantiated the purchasers of the property would be the persons aggrieved because in such circumstances their title over the property in question would land in dispute the Justice Nathled Bench saidHolding that continuation of criminal proceedings against the appellant would amount to abuse of process the Supreme Court said further prosecution would be wholly unjustified and would tantamount to gross abuse of the process of the CourtAccordingly it quashed all proceedings against the appellant alone in the pending criminal case while clarifying that the trial would continue against the remaining accusedIANS https://dailyworld.in/business/mere-purchase-not-enough-for-prosecution-in-property-fraud-case-sc-671481.html Tue, 28 Apr 2026 15:25:00 +0530 https://dailyworld.in/business/govt-issues-heatwave-advisory-to-protect-workers-mandates-cooling-water-and-flexible-work-hours-671487.html New Delhi April 28 The government on Tuesday issued advisories to all StatesUTs and its attached organisations urging immediate preventive and mitigation measures to safeguard workers and labourers from the adverse effects of rising temperatures and heat wave conditions across the country In a communication addressed to Chief SecretariesAdministrators of all States and Union Territories the Ministry of Labour and Employment emphasised the need for a coordinated multisectoral and multidimensional approach to protect workers particularly those employed in outdoor and labourintensive sectorsâStatesUTs have been advised to issue necessary directions to employers occupiers industries and construction companies for immediate implementation of worker safety measuresâ the ministry saidâThe government urged to issue advisory related to rescheduling of working hours for employees workers in different sectors Ensuring adequate drinking water facilities and making provision for rest areas and cooling of workplacesâ the ministry saidIt also include making provision for emergency ice packs and heat illness prevention material for working conditions requiring such facilities including for construction work and coordinating with Health Department to ensure regular health checkup of the workersThe government said that factory and mine managements have also been advised to allow greater flexibility to workers including slowing the pace of work during periods of extreme heat assigning twoperson crews where continuous work is unavoidable providing rest areas and ensuring sufficient ventilation and cooling arrangements âSpecial attention has been recommended for construction workers brick kiln workers daily wage earners and casual labourersâ the ministry saidâStatesUTs have been encouraged to undertake awareness campaigns at labour chowks and public places along with display of posters and banners carrying heatwave safety messages and emergency contact detailsâ the ministry added Directorate General of Training National Board for Workersâ Education DTNBWE have been advised to organise awareness and training programmes on heatwave mitigation and managementâAll organisations have also been requested to furnish fortnightly status reports on actions taken and activities undertaken in this regard for further review and monitoringâ the ministry explained IANS https://dailyworld.in/business/govt-issues-heatwave-advisory-to-protect-workers-mandates-cooling-water-and-flexible-work-hours-671487.html Tue, 28 Apr 2026 15:57:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-higher-in-early-session-on-global-optimism-671297.html Mumbai April 27 Indian stock markets traded higher in early deals on Monday with benchmark indices surging about 06 per cent each driven by positive global cues Sensex traded at 7712197 up 059 per cent or 457 points in early trade while Nifty climbed to 24047 rising 150 points or 062 per cent from the previous close led by buying in realty pharma IT auto and banking stocksHowever Axis Bank Shriram Finance and Bajaj Finance were among the top laggardsEarlier in the session the 50share index opened at 2394545 up 47 points or 020 per cent while the 30share index began at 7685605 gaining 19184 points or 025 per centAmong sectoral indices Nifty Realty Nifty Pharma Nifty IT Nifty Auto and Nifty PSU Bank were trading higher by around 2 per cent 175 per cent 097 per cent 094 per cent and 081 per cent respectivelyBroader markets outperformed with the Nifty Midcap 150 and Nifty Smallcap 100 indices advancing up to 1 per centThe volatility index INDIA VIX declined over 2 per cent to 1924Analysts said Nifty continues to trade in a negativetosideways range with immediate support seen around 23800â23900 levels and resistance near 24200 indicating limited upside unless key hurdles are decisively breachedWhile domestic sentiment is supported by developments such as the IndiaâNew Zealand Free Trade Agreement and deal activity like Sun Pharmaâs acquisition of Organon global cues remain mixed according to themMarket participants are also closely tracking the policy outcome of the Federal Reserve meeting and key macroeconomic data along with earnings from global technology majors which are critical for sustaining the ongoing global rallyHowever elevated crude oil prices rupee weakness and persistent geopolitical uncertainties particularly in the Middle East may keep volatility high and limit sharp upside in the near term they notedGlobal oil prices rose sharply with Brent crude futures trading over 2 per cent higher at 10777 while US West Texas Intermediate WTI climbed 241 per cent to 9668Asian markets traded on a mixed note with Japanâs Nikkei up nearly 2 per cent while Hong Kongâs Hang Seng was marginally positive and South Koreaâs KOSPI rose over 2 per centIn the US Wall Street ended in the green The SampP 500 gained 080 per cent while the Nasdaq advanced 163 per cent IANS https://dailyworld.in/business/sensex-nifty-trade-higher-in-early-session-on-global-optimism-671297.html Mon, 27 Apr 2026 09:59:00 +0530 https://dailyworld.in/business/gold-silver-see-muted-trade-amid-iran-us-de-escalation-hopes-671319.html Mumbai April 27 Gold and silver prices traded on a flat note on Monday amid a rise in crude oil prices and reports of a fresh proposal by Iran to end the conflict with the US raising hopes of deescalation in the Middle East On the Multi Commodity Exchange MCX gold futures June 5 contract were trading at Rs 152410 per 10 grams down 019 per cent or Rs 290 from the previous close of Rs 152699By 1100 AM the yellow metal touched an intraday high of Rs 153008 up 020 per cent or Rs 309Meanwhile silver futures May 5 contract were trading at Rs 243200 down Rs 1436 or 06 per centThe white metal touched an intraday high of Rs 245473 up 034 per cent or Rs 837 from the previous close and a low of Rs 243009 down 066 per cent or Rs 1627According to a commodity market expert precious metals are trading with a cautious bias with prices largely driven by key technical levels amid ongoing geopolitical uncertaintyOn COMEX gold is holding above the 4700â4680 support zone with further downside possible below 4650 while a sustained move above 4750â4800 could revive momentum towards 4900 the expert saidOn MCX gold is hovering near Rs 152500 with resistance seen around Rs 154000 and support at Rs 150000 the expert addedThe analyst also said that silver is also showing a cautious undertone noting that volatility remains elevated due to geopolitical tensions keeping the overall outlook rangebound in the near termIn the international market both metals were largely flat On COMEX gold was trading marginally higher by 002 per cent at 4742 per ounce while silver was down 005 per cent at 76 per ounceHowever tensions in the Middle East remain elevated although Iran has reportedly proposed a fresh peace initiative to the US aimed at reopening the Strait of Hormuz and ending the conflictAmid global uncertainty gold and silver have delivered strong returns to investors over the past year Gold has gained over 40 per cent in dollar terms over the past year and more than 18 per cent in six monthsMeanwhile silver has more than doubled investorsâ money over the past year and gained over 60 per cent in the last six monthsAdditionally Brent crude jumped over 2 per cent to 10777 while US West Texas Intermediate WTI advanced to 9668 an increase of 241 per cent IANS https://dailyworld.in/business/gold-silver-see-muted-trade-amid-iran-us-de-escalation-hopes-671319.html Mon, 27 Apr 2026 12:20:00 +0530 https://dailyworld.in/business/goldman-sachs-raises-crude-oil-forecast-up-to-90-as-hormuz-closure-tightens-supply-671342.html New Delhi April 27 IANS Analysts at Goldman Sachs have raised their forecast for Brent crude the international oil benchmark to 90 per barrel for the fourth quarter while US West Texas Intermediate WTI crude pegged at 83 per barrel as the prolonged closure of the Strait of Hormuz continues to tighten global supply according to multiple reportsnbspThe brokerage said the disruption has triggered extreme inventory drawdowns with an estimated 145 million barrels per day of crude production losses from the Persian Gulf pushing global stockpiles to decline at a record pace of up to 12 million barrels per day in AprilThe supply shock driven by the ongoing USIran conflict and a near halt in shipments through the critical Strait of Hormuz has significantly altered the global oil balanceThe market is now expected to see a deficit of about 96 million barrels per day in the current quarter compared to a surplus last yearBrent crude has already surged nearly 50 per cent since the conflict escalated in late February with futures hovering above 100 per barrel raising concerns over inflationary pressures and a potential drag on global economic growthGoldman Sachs also flagged that such sharp inventory drawdowns are unsustainable warning that either supply must normalise or demand destruction could intensify if disruptions persistThe brokerage expects a slower recovery in Gulf oil exports with normalisation now seen by the end of June compared to earlier expectations of midMay reflecting prolonged geopolitical uncertaintySeparately analysts at JPMorgan said oil markets are being forced into rapid rebalancing as supply disruptions widen They estimate global supply losses have risen to nearly 14 million barrels per day in April triggering sharp inventory drawdowns and forcing demand adjustmentsWith spare production capacity largely inaccessible due to the Strait of Hormuz closure the burden of adjustment has shifted to inventories and demand destructionJPMorgan noted that even modest supply shocks can lead to outsized price moves in oil given its inelastic demand warning that further price increases may be needed to fully rebalance the market if disruptions persistMeanwhile Morgan Stanley said oil exports from the Persian Gulf have dropped by over 14 million barrels per day due to the Hormuz closure contributing to a sharp fall in global inventoriesDespite some easing in geopolitical risk premiums following ceasefire signals Goldman Sachs cautioned that upside risks to oil prices remain particularly if supply disruptions deepen or extend beyond current assumptions It also said weaker global demand is unlikely to fully offset the supply shortfall keeping the oil market structurally tight in the near termNotably Brent crude traded at 10809 per barrel hitting an intraday high around 1 pm up 262 per cent from the previous close Similarly US West Texas Intermediate rose 247 per cent to touch an intraday high of 9674IANS https://dailyworld.in/business/goldman-sachs-raises-crude-oil-forecast-up-to-90-as-hormuz-closure-tightens-supply-671342.html Mon, 27 Apr 2026 13:58:00 +0530 https://dailyworld.in/business/india-tech-deals-hit-39-bn-in-q1-highest-in-nearly-4-years-671349.html New Delhi April 27 The technology sector of India has recorded deals worth 39 billion in the first quarter of 2026 which is the highest quarterly deal value since Q3 2022 around 4 years even as overall deal volumes declined a report showed on Monday A report from Grant Thornton Bharat highlighted that a total of 68 transactions were recorded during the quarter that also includes IPO and QIP activityHowever volumes fell 8 per cent sequentially deal value surged 43 per cent driven by a few largeticket transactions collectively valued at nearly 3 billion that suggested a clear shift towards highvalue selective investments it saidWhile excluding public market activity the sector saw 66 deals worth 34 billion with volumes declining 7 per cent quarteronquarter but values rising 39 per cent indicating increasing capital concentration in fewer transactionsMoreover deal volumes dropped 26 per cent yearonyear while total value more than tripled rising 208 per centAccording to Raja Lahiri Partner and Technology Industry Leader Grant Thornton Bharat domestic technology deal landscape is undergoing a structural transformation with capital increasingly focussed on highconviction opportunitiesHe also noted that Artificial Intelligence AI particularly generative AI is becoming central to investment decisions driving capabilityled acquisitions in areas such as AI cloud and digital engineering while positioning Indian firms as global consolidatorsIn the Mergers and Acquisitions MampA segment deal volumes remained steady at 21 transactions but values surged more than threefold to 26 billionIn addition outbound deals dominated MampA activity contributing around 97 per cent of total value while domestic transactions accounted for the bulk of volumes but a marginal share of value On the other side inbound activity remained limited during the quarterAdditionally private equity and venture capital activity moderated with 45 deals worth 848 million a 49 per cent decline in value due to the absence of largeticket investmentsHowever a single deal accounted for nearly 71 per cent of the total PE value highlighting continued concentration of capitalDespite the moderation in values PEVC continued to dominate volumes contributing around twothirds of total deal activity with sustained momentum in early and midstage investments particularly in AIdriven and enterprise technology segments according to the reportThe report also pointed out that a twospeed market with strong earlystage activity coexisting with cautious largescale funding as investors prioritise profitability and capital efficiency IANS https://dailyworld.in/business/india-tech-deals-hit-39-bn-in-q1-highest-in-nearly-4-years-671349.html Mon, 27 Apr 2026 14:10:00 +0530 https://dailyworld.in/business/ubs-downgrades-indigo-cuts-target-price-to-rs-4-940-671351.html Mumbai April 27 IANS Shares of InterGlobe Aviation Limited the parent of IndiGo opened flat with negative bias on Monday as global brokerage UBS downgraded the stock and trimmed its price target citing rising macroeconomic headwinds and sustained pressure on airline profitabilitynbspnbspHowever it recovered from early losses and were trading at Rs 456050 down by Rs 3740 or 083 per cent during noon tradeUBS lowered its rating on the stock to neutral from buy and cut its price target to Rs 4940 from Rs 5480 flagging growing concerns over the operating environment for airlinesThe downgrade comes at a time when geopolitical tensions particularly the ongoing USIran conflict have triggered heightened volatility across global markets and driven a sharp surge in energy pricesThe brokerage noted that the aviation sector has been particularly vulnerable with jet fuel spot prices nearly doubling in recent months amid supply concerns across multiple regionsWhile these developments have weighed on global carriers UBS acknowledged that IndiGo remains relatively better positioned than many of its international peers due to its scale and operational efficiencyDomestically the Indian governments intervention to limit the rise in Aviation Turbine Fuel ATF prices has provided some reliefFor April 2026 ATF prices were capped at a 9 per cent increase significantly lower than the 115 per cent surge seen in international prices in MarchThis move has helped cushion the immediate impact on airlines operating in IndiaIn last five days IndiGo shares were down by Rs 15350 or 326 per cent The stock has delivered a positive of Rs 461 or 1125 per cent in last one monthHowever over bigger timeframe the negative return of shares has been pronounced as it were down by Rs 127450 or 2184 per cent in last six monthsOn yeartodate YTD basis it dropped Rs 550 or 1076 per centIANS https://dailyworld.in/business/ubs-downgrades-indigo-cuts-target-price-to-rs-4-940-671351.html Mon, 27 Apr 2026 14:38:00 +0530 https://dailyworld.in/business/indias-pv-wholesale-volumes-rise-16-pc-to-44-lakh-units-in-march-671359.html New Delhi April 27 IANS Indias passenger vehicle PV wholesale volumes rose 16 per cent yearonyear YoY to 44 lakh units in March 2026 and improved 6 per cent sequentially as original equipment manufacturers OEMs continued steady production to cater to the robust domestic demand a report said on MondaynbspThe automobile wholesale volume is projected to grow 46 per cent in FY27 as demand is supported by GST rate cuts and new model launches the report from ICRA said The growth of 86 per cent in FY2026 has been partly offset by the elevated base of FY2026 and the weak monsoon outlookRetail sales recorded a strong YoY growth of 21 per cent yearonyear in March supported by the steady traction of new model launches and the sustained positive impact of the revised Goods and Services Tax GST ratesWholesale volumes declined by 02 per cent in H1 FY2026 while it rose considerably by 17 per cent in H2 FY2026 following the change in GST rates Retail volumes also expanded by 11 per cent to an alltime high of 46 million unitsThe report cited the Federation of Automobile Dealers Association FADA data that inventory levels fell to about 28 days by March 2026 from 5253 days at the end of March 2025 and 60 days in September 2025 aided by stronger retail offtakeUtility vehicles UVs accounted for 68 per cent of the overall passenger vehicle PV volumes in FY26 While UVs continue to drive most of the volumes volumes in the mini compact and supercompact segments have recovered slightly after the GST rate cutsThe UV segment is likely to remain the key volume driver though demand for passenger cars is also expected to go upExport volumes rose by a healthy 18 per cent in FY2026 albeit on a relatively moderate base The growth indicates the increasing supply push from Indian OEMs the report notedIANS https://dailyworld.in/business/indias-pv-wholesale-volumes-rise-16-pc-to-44-lakh-units-in-march-671359.html Mon, 27 Apr 2026 15:16:00 +0530 https://dailyworld.in/business/stock-market-cheers-india-new-zealand-fta-as-sensex-ends-639-points-higher-671368.html Mumbai April 27 IANS Indian equity benchmarks closed near the days high on improved investor sentiment after IndiaNew Zealand FTA finalised in the national capitalnbspThe agreement which sealed in the presence of Commerce Minister Piyush Goyal and his New Zealand counterpart Todd McClay removes tariffs on 100 per cent of Indias exports to New Zealand and either sharply reduces or removes tariffs on 95 per cent of the countrys imports from New ZealandAt the closing bell the Nifty ended 081 per cent or 19475 points higher at 2409270 and the Sensex settled 083 per cent or 63942 points higher at 7730363nbspCommenting on Nifty technical outlook experts said that the 2430024400 zone continues to remain a crucial resistance bandnbspOn the downside 23900 now acts as an immediate support zone while a break below this range could lead to further weakness toward 23800 crucial support level an analyst statedAdani Ports Sun Pharma NTPC Tech Mahindra Tata Steel were among the top gainers on Sensex On the other side Axis Bank BEL Trent and ICICI Bank were among top laggards on the 30share packBroader markets outperformed the benchmark indices during the session The Nifty MidCap rose 155 per cent while the Nifty SmallCap gained 196 per centOn the sectoral front gains were led by the Nifty Pharma Nifty Realty and Nifty IT indices In contrast the Nifty Private Bank and the Nifty Financial Services lagged behind the broader marketInvestor sentiments also improved as reports suggested a possible deescalation in tensions involving Iran and the United StatesExperts said that the positive mood followed news that Iran has approached the US with a proposal to reopen the strategically crucial Strait of HormuzMeanwhile Rupee traded marginally stronger near 9416 up by 007 per centIn the near term rupee is expected to trade in a range of 93759450 with volatility likely to remain elevated a market experts statedIANS https://dailyworld.in/business/stock-market-cheers-india-new-zealand-fta-as-sensex-ends-639-points-higher-671368.html Mon, 27 Apr 2026 16:06:00 +0530 https://dailyworld.in/business/india-set-for-ai-led-venture-capital-growth-as-global-funding-hits-record-3309-billion-671377.html New Delhi April 27 India is poised for an AIled surge in venture capital VC investments as global funding more than doubled to a record 3309 billion in the first quarter of 2026 driven by a wave of artificial intelligence AIled megadeals according to a report released on Monday In its latest report KPMG said that global VC funding rose sharply from 1286 billion in Q4 2025 to 3309 billion in Q1 2026 even as the number of deals declined to 8464 from 10097 indicating a shift towards fewer but larger transactionsâAIfirst businesses are expected to see strong demand going forward and are likely to drive the next phase of VC investment growth in Indiaâ said Nitish Poddar Partner and National Leader Private Equity at KPMG in IndiaCommenting on India the report noted that artificial intelligence AI is emerging as a key investment theme although the country is still at a nascent stage in terms of AI adoption and service deliveryMoreover the Americas accounted for over 80 per cent of the total it saidGlobally VC funding surged from 1286 billion in Q4 2025 to 3309 billion in Q1 2026 even as deal volumes declined to 8464 from 10097 indicating a shift towards fewer but larger transactionsThe report highlighted that ten megadeals worth over 2 billion each contributed more than 206 billion to the total investment value with a majority of these deals focused on AI companies particularly in the USThe Americas dominated global VC activity during the quarter accounting for over 80 per cent of the total investment with funding rising to 2701 billion The US alone contributed 2672 billion more than double its previous record highIn comparison Europe recorded VC investments of 257 billion a 14quarter high while Asia saw funding increase to 318 billion a 12quarter highSectorwise software remained the top destination for VC funding attracting a record 2252 billion in Q1 2026 nearly matching the sectorâs total investment for the entire previous yearMeanwhile global exit value also more than doubled to 4135 billion during the quarter largely driven by large mergers and acquisitions MampA while IPO activity remained relatively subduedThe report added that despite strong momentum geopolitical tensions rising oil prices and inflationary pressures could weigh on VC activity in the coming quarters IANS https://dailyworld.in/business/india-set-for-ai-led-venture-capital-growth-as-global-funding-hits-record-3309-billion-671377.html Mon, 27 Apr 2026 17:00:00 +0530 https://dailyworld.in/business/hanwha-systems-swings-to-q1-loss-on-equity-losses-tied-to-us-shipyard-671378.html Seoul April 27 Hanwha Systems Co the defense solutions arm of Hanwha Group said on Monday it swung to a net loss in the first quarter from a year earlier citing substantial equity losses tied to its US shipyard investment For the three months ended March the company reported a net loss of 9575 billion won 65 million compared with a net profit of 2436 billion won a year earlier reports Yonhap news agencyThe decline was largely attributed to increased equity losses from Hanwha Philly Shipyard in Philadelphia which were exacerbated by heavy snowfall in the northeastern United States during January and February a company official saidHanwha Systems holds a 60 percent stake in the US shipyard while the remaining 40 per cent is owned by affiliate Hanwha Ocean CoHanwha Group acquired the shipyard for 140 billion won in 2024 as part of a strategy to expand into the US shipbuilding market with the longterm goal of securing contracts from the US NavyIt marked the first acquisition of a US shipyard by a South Korean shipbuilder and is considered a key asset in a Seoulbacked initiative dubbed Make American Shipbuilding Great Again MASGAAcquisitionrelated costs have continued to weigh on earningsDespite the net loss operating profit rose 19 per cent to 3428 billion won in the first quarter from 3363 billion won a year earlier while sales increased 169 per cent to 80709 billion won from 6901 billion wonThe company said revenue growth was driven by exports of multifunction radars for the CheongungII missile system to the United Arab Emirates and Saudi ArabiaLooking ahead the company expects losses at the Philadelphia shipyard to narrow significantly this year supported by planned vessel deliveries the official saidMeanwhile another firm HS Hyosung Advanced reported its firstquarter net profit of 67 billion won 46 million down 331 per cent from a year earlierThe company said in a regulatory filing that it posted 344 billion won in operating profit for the quarter compared with 491 billion won a year ago Revenue also fell 29 percent to 829 billion won IANS https://dailyworld.in/business/hanwha-systems-swings-to-q1-loss-on-equity-losses-tied-to-us-shipyard-671378.html Mon, 27 Apr 2026 17:00:00 +0530 https://dailyworld.in/business/india-must-lead-in-critical-technologies-to-ensure-tech-sovereignty-dr-jitendra-singh-671236.html New Delhi April 26 IANS India must emerge as a global leader in critical and emerging technologies to secure its technological sovereignty and define its place in the world order Union Minister of State Dr Jitendra Singh said on SundaynbspAddressing the PANIIT Alumni Conference in Los Angeles virtually Singh asserted that India can no longer remain merely a consumer of technology and must instead become a creator designer and global driver of innovationThis shift is essential for the country to shape its global rise and safeguard longterm strategic interests he notedSpeaking to a gathering of IIT alumni including global technology leaders entrepreneurs researchers and investors the minister highlighted that India stands at a defining moment in its development journeyHe linked this vision to the broader goal of Viksit Bharat by 2047 where science technology and innovation will form the backbone of economic growth and global influenceSingh pointed to Indias expanding space programme rapid progress in biotechnology and the emergence of deeptech startups as signs of the countrys growing technological capabilitiesThese advancements demonstrate Indias potential to compete globally in highimpact sectors Dr Singh explainedEmphasising the importance of the Indian diaspora particularly IIT alumni he described them as key connectors between India and global innovation ecosystemsTheir contributions through investments mentorship and institutional collaborations have played a crucial role in strengthening Indias development trajectory he notedThe minister also acknowledged the role of the Indian Institutes of Technology in building the countrys technological leadership with alumni leading global corporations driving cuttingedge research and influencing public policyHowever he added that the focus must now shift towards identifying and investing in the next frontier of growthHighlighting sectors such as semiconductors artificial intelligence robotics and quantum technologies Singh said these domains will be critical for national security economic resilience and global competitivenessHe called for deeper collaboration between academia industry and government along with new models of education and institutionbuildingIANS https://dailyworld.in/business/india-must-lead-in-critical-technologies-to-ensure-tech-sovereignty-dr-jitendra-singh-671236.html Sun, 26 Apr 2026 16:14:00 +0530 https://dailyworld.in/business/piyush-goyal-new-zealand-trade-minister-hold-discussions-with-exporters-in-agra-671238.html New Delhi April 26 IANS Commerce and Industry Minister Piyush Goyal and New Zealands Minister for Trade and Investment Todd McClay met with leaders from the leather and footwear AYUSH pharma medical devices light engineering and sports goods sectors in Agra on SundaynbspHad an enriching engagement with the business leaders and was also joined by my friend Mr Todd McClay MP Minister for Trade ampamp Investment New Zealand Goyal wrote on XAlso launched the Agra World Capital of Footwear brand campaign celebrating the skills of our artisans and women entrepreneurs and positioning Agra as a global sourcing destination employment engine and export powerhouse the minister saidGoyal further stated that the IndiaNew Zealand FTA marks a defining milestone unlocking new opportunities for our farmers women artisans MSMEs businesses and skilled professionalsIn line with Prime Minister Narendra Modis vision this agreement is a gateway to a deeper more enduring and peoplecentred partnership between our two nations he addedMcClay reaffirmed that India is a strategic priority for New Zealand and urged businesses to actively pursue joint ventures and investment in IndiaIndia and New Zealand will sign the Free Trade Agreement FTA on Monday which will remove tariffs on 100 per cent of Indias exports to New Zealand and either sharply reduce or remove tariffs on 95 per cent of the countrys imports from New ZealandThe deal will provide India with immediate dutyfree access on 100 per cent of tariff lines This is down from the 10 per cent tariff New Zealand currently levies on about 450 tariff lines that India exports including textiles and apparel products leather and headgear ceramics carpets and automobiles and auto componentsIndia has also managed to keep several items out of the FTA including all dairy products such as milk cream whey yoghurt and cheese as well as farm productsThe FTA also includes a provision wherein New Zealand will invest 20 billion in India over 15 years This is in the same vein as the 100 billion investment commitment the European Free Trade Association made in their FTA with IndiaBesides the FTA also includes several provisions relating to the mobility of working professionals and students New Zealand has signed an annex on student mobility and poststudy work visas for the first time with any country Under this Indian students can work up to 20 hours per week while studying in New Zealand with extended poststudy work visasFurther the agreement includes a quota of 5000 visas for skilled Indians for a stay of up to three years in the sectors of interest to India which include AYUSH practitioners yoga instructors chefs and music teachers as well as other key sectors such as IT engineering healthcare education and constructionUnder the Working Holiday Visa programme included in the agreement 1000 young Indians annually can avail multiple entries in New Zealand for a period of 12 monthsIANS https://dailyworld.in/business/piyush-goyal-new-zealand-trade-minister-hold-discussions-with-exporters-in-agra-671238.html Sun, 26 Apr 2026 16:22:00 +0530 https://dailyworld.in/business/amit-shah-jeet-adani-cm-bhupendra-patel-cast-votes-as-gujarat-local-body-polls-underway-671239.html Ahmedabad April 26 IANS Voting for local body elections in Gujarat began on Sunday with prominent political leaders and public figures stepping out early to cast their ballots underscoring the importance of grassroots democracy in the statenbspAmong those who voted were Adani Airport Holdings Ltd Director Jeet Adani and his wife Diva Shah who exercised their franchise at a polling station in Ahmedabad amid ongoing voting across the stateUnion Home Minister Amit Shah also cast his vote along with his family at a polling booth in GandhinagarHe was accompanied by his wife Sonal Shah son Jay Shah and daughterinlaw Rishita PatelAfter voting Shah visited a temple and offered prayers and the family was seen displaying their inked fingersGujarat Chief Minister Patel cast his vote at a polling booth in Ahmedabad soon after polling commenced at 7 amCalling the elections a festival of democracy Patel urged citizens to participate actively describing voting as an important civic dutyLocal body elections are being held in Gujarat today This is a celebration of democracy and every citizen should take part and fulfil their responsibility he saidChief Minister Harsh Sanghavi also voted in Surat and expressed confidence in strong public participationHe said that people across Gujarat were turning out in large numbers to strengthen what he described as the politics of development championed by Prime Minister Narendra ModiSanghavi added that citizens were enthusiastic and ready to contribute to the states development journeyToday along with my family people from the city and across the state have cast their votes The citizens of Gujarat have stepped forward to further reinforce Prime Minister Modis developmentdriven politics he saidPolling is being held for 15 municipal corporations including Ahmedabad Surat Vadodara and Rajkot along with 84 municipalities 34 district panchayats and 260 taluka panchayats The counting of votes is scheduled to take place on April 28IANS https://dailyworld.in/business/amit-shah-jeet-adani-cm-bhupendra-patel-cast-votes-as-gujarat-local-body-polls-underway-671239.html Sun, 26 Apr 2026 16:24:00 +0530 https://dailyworld.in/business/fed-meet-q4-earnings-us-iran-tensions-likely-to-drive-stock-market-this-week-671208.html New Delhi April 26 A mix of global and domestic triggers including the upcoming US Federal Reserve policy decision ongoing earnings season geopolitical tensions and crude oil price movements are expected to guide the Indian stock market in the coming week after benchmark indices ended lower Indian equity benchmarks the Sensex and Nifty closed in the red after two straight weeks of gains weighed down by rising geopolitical tensions and cautious commentary from major IT firmsAfter a brief early uptick markets remained under pressure through the week amid sustained sellingThe Nifty declined 187 per cent to settle at 2389795 while the Sensex dropped 233 per cent to end at 7666421Commenting on Nifty technical outlook experts said that on the upside immediate resistance is placed at 24000 followed by 24150 and 24350 levelsâOn the downside support is seen at 23800 and then at 23700 A decisive break down below 23500 could trigger further downside pressureâ an analyst saidGoing ahead investors will closely track the outcome of the upcoming meeting of the Federal Open Market Committee scheduled for April 28â29Markets are widely expecting the US Federal Reserve to keep interest rates unchanged for a third consecutive meeting after pausing rate action in January and March following earlier rate cutsBack home the fourthquarter earnings season will gather pace with more than 200 companies set to announce their results for the quarter ended March 31 2026Investors will watch corporate commentary closely for cues on demand outlook margin pressures and sectoral trends particularly after subdued guidance from IT majors in recent weeksGeopolitical developments will also remain on the radar especially the ongoing tensions linked to the USIran situationFresh remarks by Donald Trump regarding engagement with Iran have added to uncertainty keeping global markets on edgeAny escalation or deescalation could have a direct bearing on investor sentimentCrude oil prices are another key variable influencing market direction Prices remained volatile during the week with supply concerns and hopes of renewed USIran talks driving fluctuations IANS https://dailyworld.in/business/fed-meet-q4-earnings-us-iran-tensions-likely-to-drive-stock-market-this-week-671208.html Sun, 26 Apr 2026 12:07:00 +0530 https://dailyworld.in/business/top-7-firms-lose-over-rs-2-lakh-crore-in-market-cap-671224.html Mumbai April 26 The combined market valuation of seven of Indiaâs top10 most valued companies eroded by over Rs 2 lakh crore last week with Reliance Industries and Tata Consultancy Services TCS emerging as the biggest laggards The downturn came in line with a bearish trend on Dalal Street where the Sensex plunged 182933 points or 233 per cent while the Nifty declined 4556 points or 187 per cent during the weekMarket sentiment remained under pressure after two consecutive weeks of gainsAccording to market experts the decline was driven by rising geopolitical tensions and weak earnings commentary from IT majorsâGlobal developments continued to dictate market direction particularly the uncertainty surrounding the West Asia crisis which has kept crude oil prices elevated amid fears of supply disruptionsâ he notedAmid this backdrop the combined market capitalisation of seven of the top10 firms dropped by Rs 20534306 croreTata Consultancy Services saw the sharpest decline with its valuation falling by Rs 6669944 crore to Rs 86736412 croreReliance Industries followed closely losing Rs 5067034 crore in market value to Rs 179664750 croreHDFC Bankâs valuation declined by Rs 2309005 crore to Rs 120822548 crore while Life Insurance Corporation of India LIC saw its market cap drop by Rs 1967075 crore to Rs 51302056 croreBharti Airtel also witnessed a fall of Rs 1940659 crore taking its valuation to Rs 110571862 croreICICI Bankâs market capitalisation slipped by Rs 1466327 crore to Rs 95034540 crore and Larsen and Toubroâs valuation declined by Rs 1114262 crore to Rs 55217188 croreHowever not all companies ended the week in the red Hindustan Unilever added Rs 2065291 crore to reach a valuation of Rs 54721980 croreState Bank of India also gained Rs 1952276 crore pushing its market cap to Rs 101675253 crore while Bajaj Finance saw an increase of Rs 825364 crore to Rs 57369081 croreDespite the weekly losses Reliance Industries retained its position as Indiaâs most valued company followed by HDFC Bank Bharti Airtel State Bank of India ICICI Bank TCS Bajaj Finance Larsen amp Toubro Hindustan Unilever and LIC IANS https://dailyworld.in/business/top-7-firms-lose-over-rs-2-lakh-crore-in-market-cap-671224.html Sun, 26 Apr 2026 15:04:00 +0530 https://dailyworld.in/business/gig-workers-body-urges-govt-to-enforce-heatwave-protections-amid-rising-temperatures-671231.html New Delhi April 26 As scorching temperatures grip large parts of India a national body representing gig and platform workers has urged the government to introduce enforceable heatwave protections The Indian Federation of AppBased Transport Workers has written to the Ministry of Labour and Employment seeking the introduction of binding safeguards under the Code on Social Security 2020The legislation governs social security entitlements for gig and platform workers across the countryIn its letter the federation proposed a series of measures aimed at protecting workers from the harsh impact of heatwavesThese include paid cooling breaks during orange and red heat alerts issued by the India Meteorological Department along with safeguards against penalties ID blocks or reduced incentives if workers pause duties due to extreme heatThe federation has also called for mandatory access to drinking water oral rehydration salts and cooling shelters for workers operating in high temperaturesAdditionally it recommended the introduction of inapp emergency distress systems and public compliance dashboards to ensure accountability among aggregatorsHighlighting the urgency of the issue IFAT noted that delivery personnel ridehailing drivers and homeservice workers continue to operate under severe heatwave conditions without adequate protections exposing them to serious health risksTo strengthen its case the federation pointed to international examples noting that countries such as South Korea Singapore France Japan the United Arab Emirates and the US state of California have already implemented similar protections for platform workersâHeat protection is not a privilege It is a labour right a public health necessity and a matter of dignityâ the federation saidHeat protection is not a privilege It is a labour right a public health necessity and a matter of dignity IFAT said in its letter IANS https://dailyworld.in/business/gig-workers-body-urges-govt-to-enforce-heatwave-protections-amid-rising-temperatures-671231.html Sun, 26 Apr 2026 15:47:00 +0530 https://dailyworld.in/business/google-to-invest-up-to-40-billion-in-anthropic-amid-global-ai-race-671088.html New Delhi April 25 US tech giant Google plans to invest up to 40 billion in the artificial intelligence AI firm Anthropic as global technology giants accelerate their push into advanced AI models and infrastructure The proposed investment includes an initial 10 billion infusion at Anthropicâs latest valuation of 380 billion with the remaining 30 billion tied to performancebased milestones the companies confirmed according to multiple reportsThe move has built on a multiyear partnership between the two firms under which Google provides cloud infrastructure and access to Anthropicâs AI models including its Claude suiteMoreover Anthropic also leverages Googleâs custom tensor processing units TPUs as an alternative to widely used graphics processing unitsThe latest agreement between the tech firms came amid surging demand for generative AI tools across enterprises developers and consumers which has placed increasing pressure on computing infrastructureNotably Anthropic recently secured 5 gigawatts of compute capacity through collaborations involving Google and Broadcom with additional expansion plannedHowever despite their collaboration the companies remain competitors in the AI space with Googleâs Gemini models vying against Anthropicâs offerings in the rapidly evolving marketAdditionally Google has been steadily increasing its stake in Anthropic since 2023 when it first invested 300 million for roughly a 10 per cent holding Subsequent funding rounds pushed its total investment beyond 3 billion with reports suggesting a stake of about 14 per cent prior to the latest dealThe investment has underscored intensifying competition among major technology firms which are committing tens of billions of dollars to leading AI labs such as Anthropic and rivals including OpenAIAnthropic was founded in 2021 by former OpenAI researchers and has seen rapid growth in adoption of its AI products particularly its Claude models with annualised revenue crossing 30 billionThe deal has followed a similar arrangement with Amazon which recently invested 5 billion in Anthropic and committed up to 20 billion more linked to specific commercial milestones IANS https://dailyworld.in/business/google-to-invest-up-to-40-billion-in-anthropic-amid-global-ai-race-671088.html Sat, 25 Apr 2026 10:41:00 +0530 https://dailyworld.in/business/top-it-firms-hiring-turns-negative-as-headcount-falls-over-7-000-in-fy26-671096.html New Delhi April 25 Headcount at Indias top IT firms declined by over 7000 in FY26 which highlighted a sharp reversal in hiring trends as companies turned cautious on workforce expansion amid an increasing focus on Artificial Intelligence AI and changing demand in the industry However the combined headcount of major IT services providers Tata Consultancy Services Infosys HCLTech Wipro and Tech Mahindra fell by 7389 employees in FY26 compared to a net addition of 12718 in FY25 according to many reportsThe decline was largely driven by a major workforce reduction at TCS which announced layoffs of around 12000 employees during the year one of the biggest job cuts by an Indian corporate in recent times This dragged overall hiring into negative territory even as three of the five firms reported marginal net additionsMeanwhile management commentary across companies reflected a cautious stance on hiring with firms refraining from giving clear guidance for FY27 amid an uncertain demand environment and evolving AIled business modelsAt an industry level hiring growth has also shown signs of levelling offAccording to NASSCOM the technology sector added only about 2000 more net jobs yearonyear in FY26 with total additions at around 135 lakh compared to 133 lakh in FY25Additionally the overall workforce in Indiaâs technology sector rose to 595 lakh in FY26 from 582 lakh in the previous year suggesting a 23 per cent increaseQuarterly wise trends remained mixed In Q4FY26 Infosys has reported a decline of 8440 employees while TCS added 2356 employees HCLTech and Wipro saw modest increases of 802 and 135 employees respectively While Tech Mahindraâs headcount dropped by about 1993In addition fresher hiring plans also indicated moderationTCS has said that it plans to hire around 25000 freshers in FY27 lower than the 4000042000 range seen in previous yearsInfosys is expected to maintain a similar hiring level of around 20000 freshers while other firms indicated they would take a call based on demand conditions during the year IANS https://dailyworld.in/business/top-it-firms-hiring-turns-negative-as-headcount-falls-over-7-000-in-fy26-671096.html Sat, 25 Apr 2026 11:25:00 +0530 https://dailyworld.in/business/elon-musk-withdraws-fraud-claims-in-openai-case-before-trial-671099.html New Delhi April 25 Elon Musk CEO of Tesla has reportedly withdrawn fraud claims against OpenAI and its cofounders Sam Altman and Greg Brockman narrowing the scope of his lawsuit on the eve of trial As per reports Yvonne Gonzalez Rogers a US court judge has allowed Musk to streamline the case leaving just two claims unjust enrichment and breach of charitable trust out of the 26 included in his November 2024 complaintJury selection is scheduled to begin on Monday in a federal court in Oakland CaliforniaMusk has alleged that OpenAI deviated from its founding mission as a nonprofit aimed at benefiting humanity after securing billions of dollars in funding from Microsoft and transitioning towards a forprofit structureHe is seeking damages of up to 134 billion which he said should be directed to OpenAIâs charitable arm if he succeedsMusk has also requested the court to restore the organisationâs nonprofit status and remove Altman and Brockman from their leadership rolesHowever OpenAI along with Altman Brockman and Microsoft has denied the allegations calling them baseless and accusing Musk of introducing lastminute demands ahead of the trialThe trial will proceed in two phasesIn the first phase a jury will hear arguments related to the remaining claims and issue a nonbinding advisory verdictIn the second phase the judge will decide on the remedies sought by MuskMusk cofounded OpenAI in 2015 but exited its Board in 2018 He later launched rival AI firm xAI in 2023 intensifying competition in the rapidly evolving Artificial Intelligence spaceEarlier in April Musk sought the removal of Altman and Brockman as part of his legal challenge to the Artificial Intelligence firmâs shift to a forprofit structure according to reports In a court filing Musk said his lawsuit aims to reverse OpenAIâs restructuring and restore its status as a nonprofit research organisation IANS https://dailyworld.in/business/elon-musk-withdraws-fraud-claims-in-openai-case-before-trial-671099.html Sat, 25 Apr 2026 12:08:00 +0530 https://dailyworld.in/business/gold-dips-034-pc-this-week-over-mild-profit-booking-671105.html New Delhi April 25 IANS Gold prices dipped 034 per cent during the week after precious metals came under corrective pressure due to profit bookingnbspOn Friday MCX gold June futures gained 061 per cent while MCX silver May futures inched up 139 per cent Currently gold futures stand at Rs 152683 while silver futures at Rs 244877 per kgThe price of 10 grams of 24carat gold was at Rs 151479 on Friday up from Rs 152002 seen on Monday market opening according to data published by the India Bullion and Jewellers Association IBJAHowever gold advanced towards the end of the week as optimism grew around advancements in United States and Iran negotiations Traders also weighed the Federal Reserves interestrate path after the Justice Department dropped a probe related to the Federal ReserveBullion climbed above 4700 an ounce as bond yields fell easing pressure on nonyielding assetsSelective buying was seen in precious metals at lower levels but momentum remained tentative as geopolitical uncertainty lingered without a clear resolution analysts said on SaturdayIrans Foreign Minister Abbas Araghchi is in Islamabad and US envoys also on the way creating chances of diplomatic deadlock being lifted multiple media reports said However Iranian officials denied they plan to hold talks with US delegatesAlthough safehaven demand eased slightly on expectations of continued negotiations underlying risks helped limit the downside analysts said adding that precious metals may remain vulnerable to further consolidation in the absence of fresh safehaven triggersAny renewed geopolitical escalation or shift in global dollar dynamics could amplify volatility in domestic commodity prices on the MCX market participants saidCOMEX gold traded near the 47204750 zone up 3 per cent on a weekly basis however a major resistance was ahead of 5000 after which they predicted a strong bull runCOMEX Silver is currently trading near the 7576 zone indicating consolidation with a slight negative bias after failing to sustain recent highs analysts saidIANS https://dailyworld.in/business/gold-dips-034-pc-this-week-over-mild-profit-booking-671105.html Sat, 25 Apr 2026 12:49:00 +0530 https://dailyworld.in/business/india-records-106-mn-inflow-first-in-7-weeks-report-671110.html New Delhi April 25 India recorded a net inflow of 106 million in the latest week which is the first positive weekly flow in seven weeks a report has said According to a report by Elara Capital the inflow came after cumulative outflows of nearly 5 billion over the previous six weeks indicating a gradual easing of selling pressure from Indiafocussed fundsMoreover weekly outflows from such funds declined sharply from a peak of 12 billion to about 180 million it saidMeanwhile exchangetraded funds ETFs led the recovery attracting inflows of 220 million during the week while longonly funds continued to see outflows of around 400 millionNotably USdomiciled funds which had been a major source of selling in recent weeks recorded inflows of 225 million after witnessing seven consecutive weeks of outflows totalling 33 billionDespite the improvement Indiadedicated strategies have continued to see outflows for nine straight weeksAdditionally liquidity conditions remained supportive for the fourth consecutive week globally with steady inflows into major fund categoriesUS equity funds saw inflows ranging between 10 billion and 22 billion per week over the past month while globalmandated funds attracted 16 billion according to the reportGlobal Emerging Market GEM funds continued to draw inflows of up to 2 billion weekly and emerging market growth funds saw inflows of 14 billionIn contrast Europe and China have continued to witness outflows over the past five weeks highlighting divergent regional trendsFlows into commodityrelated equity funds have softened following strong gains during the period of heightened geopolitical tensionsIn addition energy equity funds saw moderating outflows while gold inflows stabilised at a slower pace However silverrelated flows remained weak IANS https://dailyworld.in/business/india-records-106-mn-inflow-first-in-7-weeks-report-671110.html Sat, 25 Apr 2026 13:19:00 +0530 https://dailyworld.in/business/simplify-standardise-kyc-across-financial-system-fm-sitharaman-urges-sebi-671118.html Mumbai April 25 IANS Finance Minister Nirmala Sitharaman on Saturday called for a major overhaul of knowyourcustomer KYC processes urging Securities and Exchange Board of India SEBI to lead efforts toward simplifying and standardising verification systems across the financial ecosystemnbspAddressing SEBIs 38th foundation day event here FM Sitharaman stressed the need for a seamless secure and portable KYC framework that works across platforms and institutionsThe current system places an unnecessary burden on citizens who are often required to repeat the same verification procedures multiple times Finance Minister Sitharaman saidEmphasising urgency the minister called for close coordination between SEBI the Financial Stability and Development Council FSDC and other regulators to implement a unified architectureNo citizen should have to repeat the same verification journey across multiple platforms the finance minister saidThe finance minister also highlighted the importance of shifting the regulatory approach in line with rapidly evolving financial marketsRegulation must move from reactive to anticipatory particularly in the face of emerging risks such as artificial intelligencedriven market abuse crossborder financial fraud and growing cybersecurity threats FM Sitharaman statedHer remarks underline the governments push to ensure that oversight mechanisms remain ahead of technological disruptionsFM Sitharaman further emphasised that the next phase of regulatory development should move away from overly prescriptive rules toward more principlesbased frameworksThe minister advocated for greater reliance on structured public consultations to create balanced and adaptable regulations that can foster innovation while safeguarding investor interestsMeanwhile earlier this month the finance minister said that the countrys strong fiscal position and robust foreign exchange reserves provide the Reserve Bank of India with more policy flexibilityIndia 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 dividends FM Sitharaman said while addressing the golden jubilee celebrations of the National Institute of Public Finance and Policy on April 6IANS https://dailyworld.in/business/simplify-standardise-kyc-across-financial-system-fm-sitharaman-urges-sebi-671118.html Sat, 25 Apr 2026 14:16:00 +0530 https://dailyworld.in/business/axis-bank-clocks-marginally-dip-in-q4-profit-nii-jumps-5-pc-671120.html Mumbai April 25 Private lender Axis Bank on Saturday reported a 064 per cent drop in profitability for the March quarter Q4 of FY26 with net profit dropped 064 per cent yearonyear YoY to Rs 7071 crore The lender had posted a net profit of Rs 7118 crore in the corresponding quarter of the previous financial year Q4 FY25 according to its latest stock exchange filingThe bankâs interest income showed healthy growth during the quarter rising 47 per cent to Rs 32724 crore from Rs 31243 crore a year agoAt the same time interest expenses climbed 47 per cent yearonyear to Rs 18267 crore compared to Rs 17432 crore in yearago periodNet Interest Income NII a key measure of a bankâs core earnings stood at Rs 14457 crore in Q4 FY26 marking a 5 per cent increase from the yearago period However the Net Interest Margin NIM came in at 362 per cent the lender said in its regulatory filingOn the operational front Axis Bank reported an operating profit of Rs 10013 crore while core operating profit stood slightly higher at Rs 10619 croreOperating costs rose by 6 per cent yearonyear during the quarter suggesting continued investment in business expansion and infrastructureSequentially the bank saw a stronger performance with profit after tax PAT jumping 9 per cent compared to Rs 6490 crore reported in the December quarter Q3 FY26The bankâs Board of Directors has recommended a dividend of Re 1 per equity share for the financial year ended March 31 2026The payout remains subject to shareholder approval at the upcoming Annual General MeetingThe shares of the private lender closed Fridays trading session at Rs 1362 down by Rs 76 or 055 per centIn last five days the shares of the firm were down by Rs 86 or 063 per cent In last one month the shares were up by Rs 13990 or 1145 per cent IANS https://dailyworld.in/business/axis-bank-clocks-marginally-dip-in-q4-profit-nii-jumps-5-pc-671120.html Sat, 25 Apr 2026 14:23:00 +0530 https://dailyworld.in/business/its-a-mistake-to-accept-chinese-statistics-at-face-value-figures-can-be-misleading-report--671123.html New Delhi April 25 While it is important not to underestimate China any data from Chinese sources especially government sources should be regarded sceptically a new report has said adding that it is a mistake to accept official or published Chinese statistics at face value China is succeeding in many fields but numbers can be misleading writes James Lewis a Distinguished Fellow at Tech Policy programme at the Center for European Policy Analysis CEPA headquartered in Washington DCâThere are places where China is ahead but fewer than a casual reading might suggestâ he saysAccording to the report China is engaged in a longrunning influence campaign to persuade the world of its successâChinaâs government regards more data as âstate secretsâ than other countries do Statistics particularly economic statistics are often massaged or hidden In several cases China has even arrested journalists and researchers for revealing data that other countries would regard as publicâ the report mentionsThere is a constant desire to inflate metrics like GDP and to disguise metrics such as debt levels that contradict the story that success is inevitableâPublished data may show that the US has more public debt than China but this is the result of Chinese obfuscationâ writes LewisThe use of number of citations or scientific publications as an indicator of strength also needs to be scrutinised carefully There is also the question of what the metric asserts it is measuring versus what it is actually measuringFor example Chinaâs assertion that its radar could detect stealth aircraft and that the J20 was a fighter equivalent to F35 is bogusâRecent events in Venezuela and Iran â or the disappearance of the J20âs designer â suggest this may have been an exaggerationâ the report arguesChina has more highspeed trains but the US has more passenger airplanes Similarly 5G remains a contentious area for measurement China has done quite well in 5G but when you look at access to 5G services the US leads says the report IANS https://dailyworld.in/business/its-a-mistake-to-accept-chinese-statistics-at-face-value-figures-can-be-misleading-report--671123.html Sat, 25 Apr 2026 14:53:00 +0530 https://dailyworld.in/business/experts-call-for-secure-resilient-and-ai-driven-digital-ecosystem-671129.html New Delhi April 25 Government officials regulators and industry leaders called for a secure resilient and AIdriven digital ecosystem powered by nextgeneration telecom networks and emerging technologies such as 5G it was announced on Saturday The COAI DigiCom Summit 2026 saw wide participation from stakeholders across the ecosystem who engaged in discussions on policy innovation and collaboration to drive the next phase of Indiaâs digital growthAddressing the issue of digital trust Manish Sinha Member Finance Department of Telecommunications DoT said the rapid expansion of 5G and digital services also brings greater responsibility for ensuring security and accountabilityHe also highlighted the need to tackle spam and digital fraud through stronger regulatory frameworks and coordinated action across stakeholdersNK Bhola Wireless Advisor highlighted Indiaâs steady progress towards a digitally empowered future underpinned by advancements in 4G and 5G while noting that the country is preparing for a 6Gready ecosystemHe emphasised the importance of efficient spectrum management and the growing role of artificial intelligence in areas such as predictive maintenance and dynamic spectrum utilisationSajan Paul General Manager at Hewlett Packard Enterprise Networking India underlined how AI is transforming network architecture and operations with increasing focus on edge computing and the emergence of agentic AI to enable more intelligent and efficient telecom systemsMoreover a panel discussion on building intelligent and scalable networks brought together leaders from major telecom companies Participants stressed that future networks will be increasingly AIled requiring robust energyefficient infrastructure and stronger industry collaboration to support emerging use cases across IoT and realtime applicationsOn future connectivity experts noted that 5G Advanced and the evolution towards 6G will drive demand for higher bandwidth and new use cases requiring policy support and sustainable monetisation models to ensure continued investmentsDr Devesh Tyagi Chief Executive Officer National Internet Exchange of India NIXI highlighted that with India surpassing 1 billion internet users the next phase of digital growth will be driven by Tier 2 and Tier 3 citiesHe noted that all citizens receive services at par with metro cities while underlining the role of ISPs P2P providers and content delivery networks in strengthening the ecosystemSpeakers also highlighted the importance of strengthening Indiaâs digital infrastructure value chain including expanding fibre networks investing in submarine cables and building domestic AI compute capacity to support emerging technologiesThe summit concluded with a consensus that India is wellpositioned to emerge as a global digital infrastructure hub backed by scale talent and policy support but sustained collaboration between government industry and global partners will be key to achieving this vision IANS https://dailyworld.in/business/experts-call-for-secure-resilient-and-ai-driven-digital-ecosystem-671129.html Sat, 25 Apr 2026 15:31:00 +0530 https://dailyworld.in/business/newly-appointed-niti-aayogs-vice-chairman-ashok-lahiri-meets-pm-modi-671132.html New Delhi April 25 IANS Newly appointed Niti Aayogs Vice Chairman Dr Ashok Lahiri on Saturday met with Prime Minister Narendra Modi in the national capitalnbspThis meeting took place a day after assuming charge marking his first official engagement in the roleFollowing the meeting Lahiri who is also a BJP MLA from West Bengal and a renowned economist shared the details on social media platform XToday I met with the Prime Minister Narendra Modi he wrote on XLahiri had succeeded Suman Bery who has been serving in the role since May 2022Adding to the Bengal angle Gobardhan Das a prominent immunologist and academic is also set to join NITI Aayog as a memberDas who contested the 2021 West Bengal Assembly elections from Purbasthali Uttar on a Bharatiya Janata Party ticket but lost has previously served as Director of the Indian Institute of Science Education and Research Bhopal and was a faculty member at Jawaharlal Nehru UniversityHis inclusion alongside Lahiri signals a notable representation of Bengalis in the countrys top policymaking bodyLahiri who represents Balurghat in the current Bengal Assembly but is not contesting the ongoing elections brings with him a distinguished career in economicsHe served as the 12th Chief Economic Adviser to the Government of India and has held positions at the Delhi School of Economics the Asian Development Bank Bandhan Bank and the National Institute of Public Finance and PolicyHis global experience includes stints with the World Bank and the International Monetary FundAn alumnus of Presidency University Kolkata Lahiri is widely respected for his academic and policy contributionsWith a career spanning over four decades he is regarded as one of Indias senior economistsFor the Bharatiya Janata Party the elevation of two Bengalis to NITI Aayog could be projected as recognition of Bengals intellectual and policy leadership while also serving as a counternarrative to the All India Trinamool Congresss dominance in the stateIANS https://dailyworld.in/business/newly-appointed-niti-aayogs-vice-chairman-ashok-lahiri-meets-pm-modi-671132.html Sat, 25 Apr 2026 15:40:00 +0530 https://dailyworld.in/business/niti-aayog-emerges-as-vital-pillar-in-indias-policy-making-architecture-pm-modi-671143.html New Delhi April 25 IANS Prime Minister Narendra Modi on Saturday said that NITI Aayog has emerged as a vital pillar in Indias policymaking architecture fostering cooperative federalism furthering reforms and boosting Ease of LivingnbspIt serves as a dynamic platform for innovation and longterm strategic thinking across sectors said Prime Minister as he congratulated Ashok Kumar Lahiri on becoming the Vice Chairman and other fulltime membersThe Government has reconstituted the NITI Aayog My best wishes to Ashok Kumar Lahiri on becoming the Vice Chairman My best wishes also to Rajiv Gauba Prof K V Raju Prof Gobardhan Das Prof Abhay Karandikar and Dr M Srinivas on becoming Full Time Members of NITI Aayog said PM Modi in a post on social media platform XWishing all of them a productive and impactful tenure ahead Prime Minister addedPM Modi met Lahiri and congratulated him on his appointment as Vice Chairman of NITI AayogHis rich experience in economics and public policy will further strengthen the path of reforms in India and the journey towards becoming a Viksit Bharat I am confident that his efforts will make our countrys policymaking even more dynamic My best wishes to him for a fruitful tenure said Prime MinisterLahiri who represents Balurghat in the current Bengal Assembly but is not contesting the ongoing elections brings with him a distinguished career in economicsHe served as the 12th Chief Economic Adviser to the Government of India and has held positions at the Delhi School of Economics the Asian Development Bank Bandhan Bank and the National Institute of Public Finance and PolicyHis global experience includes stints with the World Bank and the International Monetary Fund An alumnus of Presidency University Kolkata Lahiri is widely respected for his academic and policy contributionsIANS https://dailyworld.in/business/niti-aayog-emerges-as-vital-pillar-in-indias-policy-making-architecture-pm-modi-671143.html Sat, 25 Apr 2026 17:17:00 +0530 https://dailyworld.in/business/india-inc-may-clock-up-to-9-pc-revenue-growth-in-q4-on-gst-boost-report-670983.html Mumbai April 24 India Inc is estimated to have recorded 85â9 per cent yearonyear YoY revenue growth in the fourth quarter of fiscal 2026 Q4 FY26 driven by strong volume momentum in automobiles and white goods after GST rate rationalisation in September 2025 a report said on Friday The data compiled by Crisil Intelligence noted that while corporate India has maintained healthy growth so far the outlook for the first quarter of fiscal 2027 is likely to moderate with revenue growth projected at 885 per cent onyearThis slowdown is expected as price hikes triggered by geopolitical developments such as the ongoing West Asia conflict begin to weigh on demand as per the reportCrisil Intelligence highlighted that the impact of the conflict was already visible in sectors directly linked to the region during the fourth quarter of FY26However broader and more systemic effects are expected to unfold over the first two quarters of FY27For India the region remains critical across energy trade and remittance channels making the economy particularly sensitive to prolonged disruptions the report saidIndia imports nearly 89 per cent of its crude oil requirements with about 46 per cent routed through the strategically important Strait of HormuzThe country also depends on liquefied natural gas imports for around half its needs more than half of which pass through the same routeVulnerability is even higher in liquefied petroleum gas where imports meet nearly twothirds of domestic demand and most shipments transit through HormuzBeyond energy West Asia is a key economic corridor for India accounting for roughly 13 per cent of goods exports and nearly 38 per cent of remittance inflowsKey export sectors such as gems and jewellery along with processed food categories like rice and meat have significant exposure to the region the report said IANS https://dailyworld.in/business/india-inc-may-clock-up-to-9-pc-revenue-growth-in-q4-on-gst-boost-report-670983.html Fri, 24 Apr 2026 15:46:00 +0530 https://dailyworld.in/business/bangladesh-faces-deepening-debt-crisis-671019.html New Delhi April 24 In the five fiscal years from 2026 to 2030 Bangladesh will need to spend a staggering 26 billion to repay external debt which is expected to create a huge economic burden on the country according to an article in the local media The debt burden is considered âenormousâ as in the 54 years since independence Bangladesh has spent a total of 40 billion on external debt repayment In contrast in just the next five years it will have to spend nearly twothirds of that amount the Dhaka Tribune article saidAs of last June Bangladeshâs total external debt stood at 77 billion which is 19 per cent of national income and this ratio has been rising over timeCurrently Bangladeshâs debt servicing to government revenue ratio is 165 per cent Although this is slightly below the International Monetary Fundâs risk threshold of 18 per cent the overall picture is far from reassuring the article observedIt further stated that during the 10 fiscal years from 2026 to 2035 Bangladeshâs external debt repayments will total 51 billion double the amount of the next five years By 2030 annual repayments will peak at around 55 billionFrom 2021 to 2025 Bangladesh earned about 2 billion from remittances per month Thus the peak annual repayment could be covered by roughly three months of remittance income If current trends continue it will take Bangladesh 37 years until 2063 to fully free itself from the current debt burden the article pointed outRegarding the factors leading to the piling up of this massive debt the article states that some causes are global such as the Ukraine war the Covid19 pandemic and now the Middle East conflict The global turmoil has negatively affected exports foreign direct investment and remittance inflows of Bangladesh which has weakened the countryâs capacity to repay its debtDomestic factors include Bangladeshâs largescale infrastructure projects largely financed through foreign loans which have contributed heavily to the debt burden These include the 11 billion Ruppur Nuclear Power Project the Karnaphuli Tunnel the Padma Rail Link and the third terminal of the Shahjalal International AirportDelays in the implementation of these projects have increased project costs and consequently debt repayment obligations of BangladeshSecond Bangladesh has failed to adequately expand its tax base Tax revenue especially direct taxes has not reached desired levelsThirdly many bilateral and multilateral lenders have changed their interest structures shortened repayment periods and reduced grace periods Altogether these changes have intensified the pressure on Bangladeshâs debt servicing situation the article added IANS https://dailyworld.in/business/bangladesh-faces-deepening-debt-crisis-671019.html Fri, 24 Apr 2026 18:25:00 +0530 https://dailyworld.in/business/adani-green-energys-q4-profit-jumps-34-pc-capacity-expansion-fuels-growth-671024.html Ahmedabad April 24 Renewable energy major Adani Green Energy on Friday reported a strong performance for the March quarter of FY26 with its consolidated net profit rising 34 per cent yearonyear to Rs 514 crore aided by strong EBITDA growth The company had posted a net profit of Rs 383 crore in the corresponding quarter of the previous financial year according to its stock exchange filingRevenue from core operations during the JanuaryMarch quarter also saw a healthy increase of 14 per cent climbing to Rs 3502 crore from Rs 3073 crore in the same period of the previous financial yearFor the full financial year FY26 the company delivered a solid operational and financial performance backed by aggressive expansion in renewable capacity and strong plant outputEnergy sales rose 34 per cent yearonyear to 37567 million units while revenue from power supply increased 22 per cent to Rs 11602 croreEBITDA from power supply grew 23 per cent to Rs 10865 crore with the company maintaining an industryleading EBITDA margin of 91 per centCash profit for the year also registered an 11 per cent rise to Rs 5399 crore as per its regulatory filingThe companyâs operational capacity expanded sharply by 35 per cent yearonyear to 193 GW reinforcing its position as Indiaâs largest renewable energy playerDuring FY26 Adani Green added 51 GW of greenfield capacity marking a 15 times increase compared to FY25 and one of the highest annual expansions globally outside ChinaA significant portion of this growth came from projects in Gujarats Khavda and Rajasthan where the company has been commissioning new capacities in resourcerich locationsThe Khavda project touted as the worldâs largest renewable energy plant continues to be a key driver of growthThe company has also made notable progress in energy storage It installed battery energy storage systems BESS capacity of 1376 MWh in Khavda one of the largest singlelocation deployments globally and is targeting over 10000 MWh capacity by FY27 to strengthen its futureready energy ecosystemCommenting on the performance Executive Director Sagar Adani said FY26 was a landmark year for the company marked by record capacity additions and operational excellenceâThe company on the back of robust project and operational excellence commissioned 51 GW of greenfield capacity thereby reaching 193 GW of total operational capacityâ he notedâThe continued recognition of our ESG efforts reaffirms our commitment to sustainable growth and accelerating Indiaâs energy transitionâ he addedAdani Greenâs total operational portfolio of 19294 MW is now capable of powering more than 87 million homes while helping avoid around 36 million tonnes of carbon emissions annually IANS https://dailyworld.in/business/adani-green-energys-q4-profit-jumps-34-pc-capacity-expansion-fuels-growth-671024.html Fri, 24 Apr 2026 19:22:00 +0530 https://dailyworld.in/business/india-s-korea-sign-landmark-paris-agreement-article-62-pact-to-launch-cross-border-carbon-market-671034.html New Delhi April 24 India and South Korea have taken a significant step toward advancing global climate cooperation by signing a bilateral agreement under Article 62 of the Paris Agreement a report has said The deal finalised during the South Korean presidentâs visit to India lays the groundwork for crossborder carbon markets between the two major Asian economies as per Carbon Credits reportThe agreement is part of a broader set of more than a dozen pacts covering clean energy trade and industrial collaboration reflecting a deepening partnership that links economic growth with sustainabilityAt its core the Article 62 framework allows countries to collaborate on emissions reduction projects and trade carbon credits creating new pathways for costeffective climate action the report statedUnder this mechanism emissions reductions known as internationally transferred mitigation outcomes ITMOs can be exchanged between countriesEach ITMO represents one tonne of carbon dioxide equivalent reduced or removed This enables countries to invest in emissionscutting initiatives abroad and count those reductions toward their own climate targetsA key safeguard in the system is the requirement for âcorresponding adjustmentsâ ensuring that emission reductions are not doublecounted and that transparency is maintained the report saidThe bilateral deal comes at a time when global interest in carbon markets is accelerating While still in its early stages the Article 6 framework is gaining traction with dozens of agreements already signed worldwide and many pilot projects under developmentThese mechanisms are increasingly seen as essential tools for lowering the cost of achieving national climate goals as per the reportThe partnership aligns closely with the longterm climate ambitions of both nations India has pledged to reach netzero emissions by 2070 while South Korea is targeting 2050These differing timelines create a complementary dynamic South Korea with limited domestic mitigation options can invest in costeffective projects abroad while India can attract climate finance to scale up its clean energy transition the report stated IANS https://dailyworld.in/business/india-s-korea-sign-landmark-paris-agreement-article-62-pact-to-launch-cross-border-carbon-market-671034.html Fri, 24 Apr 2026 19:44:00 +0530 https://dailyworld.in/business/bharat-taxi-enters-mumbai-to-boost-urban-transport-671041.html New Delhi April 24 Commerce and Industry Minister Piyush Goyal inaugurated the Bharat Taxi driver onboarding initiative in Mumbai it was announced on Friday The move is a significant step towards strengthening urban mobility and improving driver livelihoods The programme witnessed participation from hundreds of autorickshaw and cab drivers transport union representatives and cooperative association membersGoyal emphasised the importance of cooperative and technologydriven models in strengthening Indiaâs evolving mobility ecosystemHe said Bharat Taxi enables drivers to participate as partners while benefiting from digital tools that can improve transparency earnings and dignity of labourThe minister noted that such initiatives represent the future direction of Indiaâs urban transport systemsAccording to the Ministry of Cooperation the initiative aims to expand access to structured digital platforms that enhance driver participation improve transparency and create better earning opportunitiesThe onboarding drive forms part of wider efforts to strengthen driverfirst mobility systems across major citiesBy simplifying onboarding processes improving operational efficiency and ensuring more consistent access to ride demand the initiative seeks to build a sustainable and inclusive ecosystem for drivers and commuters alikeMumbai joins a growing network of cities including DelhiNCR Gujarat Chandigarh and Lucknow where organised mobility networks are expanding steadilyVivek Pandey COO of Bharat Taxi said Mumbai is a highpotential market and the strong support received from local driver unions has reinforced confidence in the platformâs expansion plans and its commitment to building a robust driver ecosystem in the cityRecent operational indicators reflect the platformâs growth with over 517 lakh drivers engaged more than 50 lakh customers onboarded and nearly 10 lakh rides facilitated every month across citiesAccording to the ministry the expansion aligns with the vision of Amit Shah Minster for Home and Cooperation to see Bharat Taxi operate across all major cities in India over the next three years with Mumbai emerging as a key milestone in this national growth roadmap IANS https://dailyworld.in/business/bharat-taxi-enters-mumbai-to-boost-urban-transport-671041.html Fri, 24 Apr 2026 19:52:00 +0530 https://dailyworld.in/business/india-forex-reserves-rise-to-7033-billion-amid-west-asia-tensions-671045.html Mumbai April 24 Indiaâs foreign exchange reserves registered a 23 billion increase in the week ending April 17 according to data released by the Reserve Bank of India on Friday The countryâs forex reserves rose to reach 70330 billion the central bank saidThe uptick comes after a period of sustained pressure on the reserves largely driven by external factors and currency market interventionsIndiaâs reserves had previously touched an alltime high of 728494 billion in the week ended February 27 2026However the escalation of the Middle East conflict soon after led to a reversal in the trendThe countryâs gold reserves also followed suit and continued their 100 billion rally at 12213 with a significant rise of 79 millionSpecial Drawing Rights SDRs jumped slightly to 1884 billion On the other hand Indiaâs reserve position with the IMF rose by 14 million now at 4870 billionHeightened global uncertainty and capital outflows put pressure on the rupee prompting the central bank to step in and stabilise the currency through dollar salesThis intervention coupled with broader market dynamics following the outbreak of the West Asia war resulted in a steady depletion of reserves over several weeksThe latest rise suggests a potential easing of pressures although reserves remain below their lateFebruary peakThe movement in forex reserves continues to reflect Indiaâs balancing act between managing external shocks and maintaining currency stability amid an uncertain global economic environmentMeanwhile for the week ended April 10 Indiaâs foreign exchange reserves was increased by 3825 billionThis marks a continued recovery in the countryâs forex kitty which had already risen by 9063 billion to 697121 billion in the previous week ended April 3Foreign exchange reserves play a crucial role in maintaining economic stability helping the central bank manage currency fluctuations and ensuring smooth external tradeA robust reserve position allows the RBI to intervene in the currency market to support the rupee during periods of volatility while also reflecting sustained inflows of foreign currency into the economy IANS https://dailyworld.in/business/india-forex-reserves-rise-to-7033-billion-amid-west-asia-tensions-671045.html Fri, 24 Apr 2026 19:56:00 +0530 https://dailyworld.in/business/prosecution-rejects-arrest-warrant-request-for-hybe-chairman-calls-for-further-review-671049.html Seoul April 24 Prosecutors here said on Friday they have rejected a police request for an arrest warrant for Bang Sihyuk chairman and founder of Kpop powerhouse Hybe who is accused of unfair stock trading citing insufficient evidence The Seoul Southern District Prosecutors Office sent back to the police the arrest warrant request filed against Bang earlier this week on charges of fraudulent unfair trading under the Capital Markets Act reports Yonhap news agencyThe chief was suspected of deceiving investors in 2019 into selling their shares in Hybe before the company held an initial public offering IPO through which he allegedly pocketed about 260 billion won 17528 million in illegal profitsAt this stage there is insufficient evidence to justify the necessity of detention and we have therefore requested a supplementary investigation the prosecution saidPolice said they will review whether to reapply for the warrant after conducting further investigation adding that decisions will be made in accordance with due processThe act prohibits obtaining financial gains through false statements or by using deceptive schemes in connection with financial investment products such as unlisted shares Violations involving profits exceeding 5 billion won are punishable by life imprisonment or a minimum of five years behind barsBang has denied the allegation saying the IPO had followed the law and regulationsPolice first received a tipoff on the allegations in late 2024 and raided the Korea Exchange and Hybes headquarters the following year as part of the probe Bang was banned in August from leaving the country leading to various restrictions on his activitiesThe US Embassy in Seoul recently sent a letter to the police agency asking that it allow him to travel to the United States to take part in Kpop supergroup BTS world tour IANS https://dailyworld.in/business/prosecution-rejects-arrest-warrant-request-for-hybe-chairman-calls-for-further-review-671049.html Fri, 24 Apr 2026 20:01:00 +0530 https://dailyworld.in/business/normal-lpg-supply-over-1783-lakh-small-cylinders-sold-in-april--671057.html New Delhi April 24 The Ministry of Petroleum and Natural Gas said on Friday that more than 81000 small 5 kg LPG cylinders were sold across the country bringing the total to 1783 lakh during Aprilâ âSo far the supply of domestic LPG continues to be normal with no dryouts being reported at retail distributorshipsâ the ministry informedâThe 5 kg LPG cylinders are used by migrant workers in urban areas for cookingâBesides 527 lakh PNG connections have been gasified and infrastructure has been created for an additional 260 lakh connections taking the total to 787 lakh connectionsAbout 597 lakh customers have also been registered for new connections More than 42000 PNG consumers have also surrendered their LPG connections via the MYPNGDin website the statement saidâMeanwhile online domestic LPG cylinder bookings have increased to 98 per cent while authentication codebased deliveries to the registered mobile number of the consumer have increased to around 94 per cent to prevent diversion at the distributor levelâThe supply of cooking gas to domestic households has been prioritised even as overall LPG supply remains affected by the prevailing geopolitical situationâOver 8483 metric tonnes MT of commercial LPG equivalent to more than 446 lakh 19 kg LPG cylinders was sold on Wednesday taking the total sold this month to 140362 MT equivalent to more than 7387 lakh 19 kg LPG cylindersâMeanwhile enforcement actions continue across the country to curb hoarding and black marketing of LPG Cumulatively to date more than 15 lakh raids have been conducted and more than 66000 cylinders have been seized across the countryFurther more than 1100 First Information Reports have been registered and 255 persons have been arrestedâPublic sector oil companies have strengthened and continued surprise inspections imposed penalties on 298 LPG distributorships and suspended 70 LPG distributorships so farâThe Ministry of Petroleum and Natural Gas further stated that it is taking steps to ensure the uninterrupted availability of petroleum products and LPG across the country in the context of the closure of the Strait of HormuzâCitizens are advised to avoid panic purchase of petrol diesel and LPG and to beware of rumours relying on official sources for correct information LPG consumers are requested to use digital booking platforms and avoid visiting distributorsâAll refineries are operating at high capacity with adequate crude inventories while sufficient stocks of petrol and diesel are being maintained Local LPG production from refineries has been increased to support domestic consumption the statement addedâ IANS https://dailyworld.in/business/normal-lpg-supply-over-1783-lakh-small-cylinders-sold-in-april--671057.html Fri, 24 Apr 2026 21:35:00 +0530 https://dailyworld.in/business/global-smartphone-soc-shipments-down-8-pc-amid-supply-chain-disruption-671061.html New Delhi April 24 Global smartphone systemonachip SoC shipments declined 8 per cent yearonyear in Q1 2026 a report showed on Friday The ongoing memory crunch is impacting both smartphone OEMs and SoC vendorsâ new product development while forcing them to optimise their product portfolios said the report by Counterpoint ResearchThe premium segment has remained relatively resilient with higher costs largely passed on to end consumers Meanwhile the entrylevel OEMs are increasingly adopting lowercost chipsets to keep smartphone prices competitive it notedQualcomm and MediaTek recorded doubledigit declines in shipments In contrast Apple Samsung Google and UNISOC posted positive growth Their integrated supply chains helped Apple Samsung and Google to better mitigate the impact of the ongoing memory crunchâQualcomm was expected to benefit from premiumization but the impact was limited due to Samsungâs Galaxy S26 series using both Snapdragon 8 Elite Gen 5 and Exynos 2600 along with softer demand for the Xiaomi 17 seriesâ said senior analyst Shivani ParasharMediaTek on the other hand faced greater pressure in the entrylevel segmentâWe expect many OEMs will shift to UNISOC chipsets to reduce costs At the same time weaker growth in the mid and premium tiers coupled with the delayed launch of the Dimensity 9500 further weighed on MediaTekâs performanceâ said ParasharMemory prices increased 5055 per cent onquarter in Q1 and âwe expect a further rise of 8085 per cent QoQ in Q2 2026âThe sharp increase in memory costs combined with the ongoing Middle East conflict poses risks to smartphone supply chains logistics and overall costsPrincipal analyst Soumen Mandal said âwe expect smartphone SoC shipments to decline by double digits in Q2 with the situation likely to worsen in the second half of the yearâThe memory shortage is expected to continue until the second half of 2027 Both smartphone OEMs and chipset vendors are delaying product launches holding back new versions and adjusting their spending on new product development to navigate the challengesâ he notedThe supply chain is not expected to return to normal until at least early 2028 Smartphone SoC shipments will likely see a doubledigit YoY decline in 2026 IANS https://dailyworld.in/business/global-smartphone-soc-shipments-down-8-pc-amid-supply-chain-disruption-671061.html Fri, 24 Apr 2026 21:40:00 +0530 https://dailyworld.in/business/rbi-cancels-paytm-payments-bank-licence-over-compliance-lapses-671064.html Mumbai April 24 The Reserve Bank of India on Friday cancelled the licence of Paytm Payments Bank Limited citing failure to comply with the regulatory conditions laid down under its payments bank licence In a decisive move the central bank said the entity would no longer be permitted to carry out banking operations and announced that it will approach the High Court to initiate the process of winding up the bankâRBI has cancelled the banking licence issued to Paytm Payments Bank Limited under Section 224 of the Banking Regulation Act 1949 âBR Actâ effective from close of business on April 24â the central bank said in its orderâConsequently Paytm Payments Bank Limited is prohibited from conducting the business of âbankingâ as defined in Section 5b or any additional business specified under Section 6 of the Banking Regulation Act 1949 with immediate effectâ RBI addedRBI will make an application for winding up of the bank before the High Court it mentionedThe RBI noted that Paytm Payments Bank has adequate liquidity to repay all its deposit liabilities assuring that depositorsâ interests would be safeguarded during the closure processâPaytm Payments Bank Limited has enough liquidity to repay its entire deposit liability upon winding up of the bankâ the central bank saidIt further stated that allowing the bank to continue operations would serve no useful purpose or public interestâNo useful purpose or public interest would be served by allowing the bank to continue as envisaged in Section 22 3 e of the BR Actâ RBI saidâThe bank failed to comply with the conditions stipulated in the Payments Bank license issued to it thereby violating the provisions of Section 22 3g of the BR Actâ the central bank statedPreviously the bank was directed to stop onboarding of new customers with effect from March 11 2022Thereafter on January 31 2024 and February 16 2024 certain business restrictions were also imposed on the bank which inter alia disallowed any further depositscredits topups in existing customer accounts prepaid instruments wallets etc RBI said IANS https://dailyworld.in/business/rbi-cancels-paytm-payments-bank-licence-over-compliance-lapses-671064.html Fri, 24 Apr 2026 21:51:00 +0530 https://dailyworld.in/business/disinvestment-process-of-idbi-bank-to-continue-fm-nirmala-sitharaman-670884.html Pune April 24 IANS Finance Minister Nirmala Sitharaman on Friday confirmed that the government plans to continue with the disinvestment process of IDBI BanknbspThe comments dispelled the uncertainty hanging over the privatisation of IDBI Bank as the offers received in the earlier bidding round were below the reserve price fixed by the government Consequently the proposed transaction had to be called off last monthUnder the original plan the government was to sell a 3048 per cent stake in IDBI Bank while LIC was to divest 3024 per cent taking the total stake on offer to 6072 per cent Based on earlier market prices the combined value was estimated at Rs 72000 croreThe privatisation process has been underway since January 7 2023 when the Department of Investment and Public Asset Management received multiple expressions of interest from biddersThe Finance Minister further stated that there is nothing on the table at present on consolidation among public sector banks adding that a highlevel banking committee will examine the matter Sitharaman spoke to reporters on the sidelines of the inauguration of the new premises of the State Bank of Indias Local Head Office Maharashtra Circle at PuneSitharaman also highlighted that Indias economic growth must be rooted in domestic activity especially agriculture which can also supply external marketsShe said that the sheer size of the Indian economy and strong internal consumption create the need for large banks This domestic demand itself is capable of sustaining growth which continues to be among the fastest in the worldI reiterate the domestic consumption and the domestic economic wheels moving well have really stood by us Even during times when global markets are in a churn our exports are taking a beating But our exporters to their credit I must say have done well despite all the tariff and other challenges which the global uncertainties are giving them They are because of their ingenuity finding newer markets and performing Exports are doing all right because they are able to find newer markets and keep their growth sustained she addedIANS https://dailyworld.in/business/disinvestment-process-of-idbi-bank-to-continue-fm-nirmala-sitharaman-670884.html Fri, 24 Apr 2026 13:29:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-lower-in-early-deals-it-and-pharma-stocks-under-pressure-670931.html Mumbai April 24 The domestic equity markets saw negative performance in early hours on Friday amid elevated geopolitical tensions and the Q4 earnings season Sensex was trading at 77263 down 051 per cent or 400 points while Nifty was down 041 per cent or 100 points in early trade amid panic selling in IT financial and pharma stocks However support was seen in FMCG and chemical scripsCipla Infosys Dr Reddyâs Laboratories Sun Pharma TCS and ICICI Bank were among the top laggardsOn the sectoral front several indices in the red zone with the Nifty IT index falling 157 per cent The Nifty Private Bank index declined 031 per cent while the Nifty Pharma index was down 027 per centAnalysts said that given the prevailing global uncertainties and elevated volatility a cautious and selective investment strategy is recommendedThey advised investors to accumulate fundamentally strong stocks during market correctionsâFresh long positions should ideally be initiated only after the Nifty decisively breaks above and sustains the 24500 level which would signal improving sentiment and the possibility of a more sustained bullish trendâ analysts notedMarket sentiment remains fragile and highly newsdriven with nearterm direction likely to be influenced by geopolitical developments and movements in crude oil prices they addedBrent crude jumped nearly 2 per cent to 107 per barrel while US West Texas Intermediate WTI rose around 2 per cent to 976 from the previous closeIn Asian markets the Nikkei was trading 043 per cent higher at 59394 the Hang Seng declined 037 per cent to 25819 and the KOSPI was down 040 per cent to 645015On the institutional front foreign institutional investors FIIs extended their selling streak for the fourth consecutive session on Thursday and offloaded equities worth Rs 3254 crore On the other hand domestic institutional investors DIIs purchased equities worth Rs 941 crore IANS https://dailyworld.in/business/sensex-nifty-trade-lower-in-early-deals-it-and-pharma-stocks-under-pressure-670931.html Fri, 24 Apr 2026 14:17:00 +0530 https://dailyworld.in/business/thousands-of-it-jobs-set-to-disappear-as-meta-microsoft-restructure-workforce-in-ai-era-670935.html New Delhi April 24 Tech giants Meta Platforms and Microsoft may cut thousands of jobs and offer voluntary buyouts as the technology firms step up efforts to streamline operations amid heavy investments in artificial intelligence AI according to multiple reports Meta reportedly told employees in an internal memo that it plans to cut about 10 per cent of its workforce or roughly 8000 jobs starting May 20The Mark Zuckerbergbacked firm has also decided not to fill around 6000 open positions as part of its broader restructuring exerciseMeanwhile Microsoft has offered voluntary buyouts to a section of its US workforceAs per reports about 7 per cent of US employees eligible for the programme which could impact around 8750 workers based on current staffing levelsThe restructuring comes as both companies accelerate spending on AI infrastructure including data centres and related technologiesMoreover Microsoft is expanding its global data centre footprint with recent AIrelated investments announced in markets such as Japan and AustraliaSimilarly Meta has projected record capital expenditure this year and has signed multiple multibilliondollar deals with AI partners in recent monthsIn addition both companies have undertaken several rounds of workforce reductions over the past two years as they recalibrate cost structures alongside rising AI investmentsMetaâs internal memo attributed to Chief People Officer Janelle Gale linked the move to efficiency measures and investment balancingWe are doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we are making she was quoted as sayingMicrosoft Chief People Officer Amy Coleman in a memo to staff said the company was moving with urgency as it adapts to evolving prioritiesTo sustain this pace we have to stay focused on doing great work trusting and empowering our managers and simplifying to support everyone she saidBoth Meta and Microsoft are scheduled to report their quarterly earnings at the end of AprilMeanwhile another report said that KPMG is trimming its US audit partner ranks by about 10 per cent as part of a longrunning effort to encourage voluntary early retirements IANS https://dailyworld.in/business/thousands-of-it-jobs-set-to-disappear-as-meta-microsoft-restructure-workforce-in-ai-era-670935.html Fri, 24 Apr 2026 14:21:00 +0530 https://dailyworld.in/business/crude-oil-prices-surge-up-to-2-pc-above-100-mark-as-middle-east-tensions-escalate-670940.html Mumbai April 24 International crude oil prices surged on Friday rising up to 2 per cent amid escalating tensions in the Middle East even after a unilateral ceasefire announcement from the US The global oil benchmark Brent crude advanced about 2 per cent to 107 per barrel while US West Texas Intermediate WTI crude increased nearly 2 per cent to 976 from the previous closeIn the domestic market crude oil on the Multi Commodity Exchange MCX was trading at Rs 9077 down 1 per cent or nearly Rs 100This week Brent crude has jumped as much as 1883 per cent to trade around the 107 mark so far against the previous Fridayâs closing Similarly US WTI has witnessed a 17 per cent gain during the weekCommodity experts said that ongoing disruptions in the Strait of Hormuz continue to fuel volatility keeping the nearterm bias cautiously bullishFor global oil commodities they said immediate resistance is seen at 99 and a sustained breakout could extend gains towards 10450 with further upside potential up to 110 adding that on the downside 95 remains key support while 9080â8850 acts as a stronger baseThough the overall bias remains cautiously bullish contingent on geopolitical developments the experts notedMoreover US President Donald Trump has reportedly stated that he would not use a nuclear weapon in the war against IranâWhy would I use a nuclear weapon Weâve totally in a very conventional way decimated them without itâ Trump told media at the White HouseHowever reports also claim that the US President has ordered the military to intensify action in the region including operations targeting Iranian small boats near the Strait of Hormuz further escalating tensions in the key shipping routeSeparately a report suggested that Israel and Lebanon have extended their ceasefire by three weeksThe Strait of Hormuz through which about 20 per cent of global oil trade passes remains a critical flashpoint as military activity and maritime disruptions raise concerns over supply stabilityOn the equities front domestic frontline indices Sensex and Nifty traded up to 1 per cent lower in early trade amid selling pressure in IT and pharma stocks IANS https://dailyworld.in/business/crude-oil-prices-surge-up-to-2-pc-above-100-mark-as-middle-east-tensions-escalate-670940.html Fri, 24 Apr 2026 14:24:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-slip-nearly-1-pc-amid-geopolitical-tensions-670945.html Mumbai April 24 Gold and silver prices started the session on a weaker note on Friday with both precious metals declining by nearly 1 per cent in early trade on the Multi Commodity Exchange MCX Gold futures for June 5 opened 039 per cent or Rs 594 lower at Rs 151167 per 10 grams compared to the previous close of Rs 151761Later the yellow metal touched an intraday low of Rs 150750 down 066 per cent or Rs 1011 At the last count it was trading at Rs 151449 a decrease of Rs 312 or 021 per cent During the session so far gold has touched an intraday high of Rs 151457On the other hand silver futures for May 5 declined as much as 095 per cent or Rs 2313 to Rs 239200 an intraday low The white metal was trading at Rs 241345 down Rs 168 or 007 per cent It recorded an intraday high of Rs 241382 down 005 per cent or Rs 131In the international market precious metals also witnessed selling pressure COMEX gold was down nearly 1 per cent at 4684 per ounce while COMEX silver also slipped around 1 per cent to 7481 per ounceAccording to commodity analysts gold and silver prices are under pressure due to a stronger US dollar rising bond yields and uncertainty over geopolitical tensions in the Middle EastThey further said that crude oil moving back above 100 per barrel has raised inflation concerns adding to pressure on precious metalsMoreover Brent crude was trading at more than 100 per barrel or 2 per cent higherEquity benchmarks Sensex and Nifty also traded up to 1 per cent lower in early trade on Friday IANS https://dailyworld.in/business/gold-and-silver-prices-slip-nearly-1-pc-amid-geopolitical-tensions-670945.html Fri, 24 Apr 2026 14:31:00 +0530 https://dailyworld.in/business/fm-sitharaman-warns-of-unprecedented-risks-from-anthropics-mythos-ai-says-banks-must-stay-vigilant-670946.html New Delhi April 24 IANS Finance Minister Nirmala Sitharaman on Friday said that Indian banks are adequately prepared to deal with emerging technologyrelated challenges even as she raised fresh concerns over risks linked to a new artificial intelligence model developed by AnthropicnbspSpeaking to reporters FM Sitharaman noted that India is closely monitoring the potential threats posed by Anthropics Mythos AI model which has drawn global attention for its advanced capabilitiesThe finance minister said the Ministry of Electronics and Information Technology MeitY is actively engaging with international governments and authorities to better understand the risks associated with the model and assess its possible impact on Indias banking ecosystemThe Finance Minister noted that while Indian banks remain resilient the rapidly evolving nature of artificial intelligence requires greater vigilanceFM Sitharaman indicated that existing regulatory and security frameworks may need to be updated to effectively tackle newer and more sophisticated threats emerging from advanced AI systemsHighlighting the need for coordinated action FM Sitharaman said banks have been asked to work together on this issueHer remarks come a day after she flagged unprecedented risks associated with the Mythos AI modelThe Indian Banks Association will lead consultations among lenders to address concerns and strengthen sectorwide preparednessMeanwhile earlier this month FM Sitharaman said that Indias strong fiscal position and robust foreign exchange reserves provide the Reserve Bank of India with more policy flexibilityAddressing the golden jubilee celebrations of the National Institute of Public Finance and Policy on April 6 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 dividendsIANS https://dailyworld.in/business/fm-sitharaman-warns-of-unprecedented-risks-from-anthropics-mythos-ai-says-banks-must-stay-vigilant-670946.html Fri, 24 Apr 2026 14:32:00 +0530 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/oil-prices-surge-amid-stalemate-in-peace-talks-extending-supply-chain-disruption-670807.html Mumbai April 23 IANS Global oil prices edged higher on Thursday due to a stalemate over the next round of peace talks between the United States and Iran that kept the energy artery Strait of Hormuz effectively closednbspThe June contract for Brent on the Intercontinental Exchange traded at 10335 a barrel in morning trade up around 4 per cent from the previous close Meanwhile the June futures contract for West Texas Intermediate on the New York Mercantile Exchange NYMEX rose 162 per cent to 9447 a barrelAlthough US President Donald Trump extended the ceasefire until the leaders of the concerned countries came up with a unified proposal he did not remove the naval blockade on IranUS forces have directed 31 vessels to turn around or return to port as part of the US blockade against Iran US Central Command said on social mediaThe strait has been shut for more than 50 days disrupting nearly one fifth of global oil and gas supplies with a sustained price rise having potential to impact Indias import bill and weigh on its economy analysts saidThe government has maintained that retail fuel outlets across the country are operating normallyTehrans negotiators will reportedly skip talks with the US as negotiations were a waste of time following which US Vice President JD Vance had paused his trip to join peace talks Meanwhile Irans navy also informed that it seized two container ships in the Strait of HormuzIndianflagged crude oil tanker Desh Garima which crossed the Strait of Hormuz carrying 31 Indian seafarers arrived in Mumbai on WednesdayThe Indian basket price of crude that contains a derived mix of Sweet grade Brent Dated and Sour grade Oman and Dubai average stood at 10246 per barrel as of April 21 and its average price in April stands at 1158 per barrelIANS https://dailyworld.in/business/oil-prices-surge-amid-stalemate-in-peace-talks-extending-supply-chain-disruption-670807.html Thu, 23 Apr 2026 12:28:00 +0530 https://dailyworld.in/business/centre-refutes-reports-on-fuel-price-hike-in-india-calls-them-mischievous-and-misleading-670812.html New Delhi April 23 IANS Petroleum Ministry on Thursday dismissed media reports regarding petrol and diesel price increase after the assembly elections in West Bengal and Tamil Nadu calling such reports as mischievous and misleadingnbspIn a social media post on X the ministry clarified that there is no such proposal under government considerationSuch news items are designed to create fear and panic amongst the citizens and are mischievous and misleading the ministry addedIt further stated that India remains the only country where petrol and diesel prices have not increased in the last four yearsThe government and oil PSUs have taken relentless steps to insulate citizens from steep increases in international prices it saidThe government has earlier maintained that retail fuel outlets across the country are operating normallyEven 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 centRecent industry data 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 Profit On the diesel front prices have witnessed a sharp rise in several countries in recent months amid geopolitical tensionsMeanwhile Sujata Sharma Joint Secretary Ministry of Petroleum and Natural Gas provided an update on LPG supplies She said that the supply of domestic LPG is normal and no dryout has been reported at any distributorIndianflagged crude oil tanker Desh Garima which crossed the Strait of Hormuz on April 78 2026 carrying 31 Indian seafarers arrived in Mumbai on WednesdayGlobal oil prices edged higher on Thursday due to a stalemate over the next round of peace talks between the United States and Iran that kept the energy artery Strait of Hormuz effectively closedThe June contract for Brent on the Intercontinental Exchange traded at 10335 a barrel up around 4 per cent from the previous close Meanwhile the June futures contract for West Texas Intermediate on the New York Mercantile Exchange NYMEX rose 162 per cent to 9447 a barrelIANS https://dailyworld.in/business/centre-refutes-reports-on-fuel-price-hike-in-india-calls-them-mischievous-and-misleading-670812.html Thu, 23 Apr 2026 12:57:00 +0530 https://dailyworld.in/business/piyush-goyal-slams-congress-over-indiasouth-korea-fta-as-poorly-negotiated-670839.html New Delhi April 23 IANS Commerce and Industry Minister Piyush Goyal said on Thursday that the IndiaSouth Korea free trade agreement FTA signed in 2009 and brought into effect in 2010 during the Congressled UPA II government is the result of a poorly negotiated imbalanced agreement tilted against IndianbspSince then bilateral merchandise trade between the two countries has increased by 927 per cent with Indias imports rising by 1037 per cent clearly not favouring India Thus while overall trade expanded the trade deficit also widened the minister pointed out in a post on social media platform XHe further stated that in 2015 Prime Minister Narendra Modi and the President of the Republic of Korea met and agreed to commence negotiations to amend the IndiaKorea CEPA comprehensive economic partnership agreement with a view to achieving both qualitative and quantitative growth in trade through an agreed roadmapThereafter at the ministeriallevel meeting of the joint committee under the IndiaKorea Comprehensive Economic Partnership Agreement IKCEPA the ministers announced the launch of renegotiations under which eleven rounds were held and an Early Harvest Package was agreed uponNow through sustained and concerted efforts the two countries have decided to go beyond the earlier agreed aspects and prioritise a more reciprocal and mutually beneficial partnership with a strong focus on key sectors of shared interest while also addressing nontariff barriers and rules of origin The renegotiation talks are expected to conclude by the end of 2026 or at the latest by mid2027At the same time consistent followup to enhance localisation and reduce import dependency of Korean companies operating in India has begun to yield results We are now witnessing genuine indigenisation and improved reciprocity he explainedAdditionally during the recent state visit of the President of the Republic of Korea to India it was announced that JSW Steel and the Republic of Koreas POSCO have formed a 5050 joint venture to establish a 6 MTPA greenfield integrated steel plant in Odisha with an estimated investment of Rs 35000 crore This joint venture route of investment is unlike earlier investments by Korean companies which were in the form of wholly owned subsidiaries Goyal pointed outnbspIn addition multiple MoUs have been signed between the two nations aimed at strengthening bilateral economic ties across trade industry strategic resources and clean energy enhancing technical cooperation and business matchmaking with a focus on the MSME sector and improving supply chain resilience and boosting industrial coproductionThe PM Modi governments approach is clear ensuring fair trade more balanced outcomes and a steady push to strengthen domestic manufacturing while firmly safeguarding national interests making this a winwin partnership the minister addedIANS https://dailyworld.in/business/piyush-goyal-slams-congress-over-indiasouth-korea-fta-as-poorly-negotiated-670839.html Thu, 23 Apr 2026 14:49:00 +0530 https://dailyworld.in/business/55-000-km-tracks-renewed-for-safer-quicker-travel-on-indian-railways-pmo-670841.html New Delhi April 23 IANS Modernisation of railway tracks in the country is powering a faster and more dependable network and track renewal advanced testing and mechanised maintenance have improved ride quality and ensured higher speeds according to a statement issued by the Prime Ministers Office PMO on ThursdaynbspThese changes are reducing delays supporting smoother journeys and helping Indian Railways meet growing passenger and freight demand across the countryThe PMO referred to an article written by Railways Minister Ashwini Vaishnaw which highlights that since 2014 about 55000 km of tracks have been renewed thus improving safety and the ride quality and reducing the need for frequent repairsnbspAround 44000 km track of long rail panels have been laid Longer rail panels mean fewer joints which leads to smoother and safer train movement Over 80000 km track of stronger 60kg rails are now in use supporting heavier loads and higher speed the minister statednbspToday nearly 80 per cent of network handles train speeds of 110 km per hour or above and rail and weld failures have fallen by 90 per cent For passengers and businesses these changes are making a real difference the minister explainednbspThe track machine fleet has doubled from 748 in 2014 to 1785 in 2026 These machines carry out tamping ballast cleaning and rail grinding better faster and more evenly than manual worknbspThe track is the foundation on which this entire system works When it is in good shape trains run safely at higher speeds When it is not the results range from speed restrictions and delays to safety risks A cracked rail a loose fitting or a clogged ballast bed can all affect how a train moves the minister explainednbspHe further pointed out that more than 25000 trains run across India every day They carry more than 20 million passengers daily and move large quantities of coal iron ore grains steel cement and other commodities across a network of over 137000 km of tracksIANS https://dailyworld.in/business/55-000-km-tracks-renewed-for-safer-quicker-travel-on-indian-railways-pmo-670841.html Thu, 23 Apr 2026 15:14:00 +0530 https://dailyworld.in/business/hyderabad-police-commissioner-urges-banks-to-ensure-zero-mule-accounts-670859.html Hyderabad April 23 Hyderabad Police Commissioner V S Sajjanar on Thursday asked the banks to focus on preventing cyber frauds by ensuring zero mule accounts The Hyderabad police chief recommended the introduction of a twinchallenge framework to reorient bank branch priorities away from accountopening targets and towards citizen safety and institutional integrityHe strongly advocated that both these challenges should be embedded as formal Key Performance Indicators KPIs at the branch level with branches achieving compliance to be formally recognised and rewarded by higher officials of the bankThe Police Commissioner held a conclave of senior bank officials to address bank account misuse and strengthen cyber fraud preventionThe conclave was held in the wake of Operation Octopus the Hyderabad City Polices coordinated twophase initiative to dismantle organised cyber fraud networks and the subsequent arrest of bank officials found potentially complicit in the opening of mule accountsThe meeting which was chaired by the Commissioner was coattended by Additional Commissioner of Police Crimes amp SIT M Srinivasulu and Reserve Bank of Indias Regional Director Chinmoy KumarThe coordination meeting was attended by 75 representatives from 45 public and private sector banksThe Commissioner said that no customer should fall victim to cybercrime Zero cybercrime victims is the measurable target â to be monitored via NCRP complaint data linked to the branchNo mule account should be opened at the branch Strict KYC compliance enhanced due diligence and realtime monitoring are the operational requirements underlying this target he saidThe Commissioner emphasised that bank managements must not treat the volume of account openings as a performance metric Branches that prioritise targets over diligence are the primary entry points for fraud networks Safe customer and zero mule account outcomes â not account volumes â must define branch performance he addedHe told the banks that they must adopt a policy of zero tolerance towards cybercrime at every level of the organisation â from frontline staff to senior managementKey Performance Indicators KPIs for branches must incorporate monitoring of NCRP complaints attributed to the branch with proactive remediation expected he saidBank staff must demonstrate empathy and offer prompt structured support to customers who have fallen victim to cyber fraud â including guiding victims to the national helpline 1930 and the cybercrime portal cybercrimegovinStrict disciplinary action must be taken against KYC verifiers found to be involved in fraudulent account openings accompanied by periodic forensic audits of accounts opened by flagged officials Any employee found complicit with cyber criminals should be blacklisted across the banking and financial services ecosystemAdvanced technological tools â including solutions such as Mule Hunter â must be adopted to detect and prevent mule account activity in real timeSajjanar said customers seeking to prematurely close Fixed Deposits must be proactively cautioned and verified particularly where fund transfers are involved to intercept cyber fraud in progressThe Commissioner provided a detailed briefing on the operating methods of cyber fraud syndicates currently active across India These networks are primarily headquartered in countries including Cambodia Vietnam and the UAE and engage intermediaries within India to procure bank accounts by colluding with bank officials â particularly KYC verifiers â to facilitate the siphoning of funds from Indian victimsThe briefing underscored the transnational and organised nature of these networks and the critical role that insider banking complicity plays in enabling them IANS https://dailyworld.in/business/hyderabad-police-commissioner-urges-banks-to-ensure-zero-mule-accounts-670859.html Thu, 23 Apr 2026 16:59:00 +0530 https://dailyworld.in/business/indians-stock-markets-fall-for-2nd-day-over-west-asia-tensions-670864.html Mumbai April 23 The Indian equity markets ended sharply lower for the second consecutive session on Thursday with benchmark indices declining about 1 per cent each amid escalating tensions in West Asia over the Strait of Hormuz Sensex settled at 77664 down 852 points or 109 per cent while Nifty closed at 24173 losing 205 points or 084 per cent as selling pressure intensified across auto banking IT and realty stocks Major laggards included Tech Mahindra Infosys Tata Motors Passenger Vehicles TMPV Mahindra amp Mahindra Eicher Motors HDFC Bank and ICICI BankDuring the session Sensex slipped as much as 12 per cent to hit an intraday low of 77574 while the Nifty fell nearly 1 per cent or 243 points at 2413480Sectorally Nifty Auto Nifty PSU Bank Nifty Consumer Durables Nifty Realty and Nifty IT indices dropped up to 2 per cent each leading the lossesIn contrast defensive pockets showed some resilience with the Nifty Healthcare and Nifty Pharma indices gaining up to 2 per centThe weakness was broadbased with wider market indices also ending in the red Nifty 100 declined 093 per cent while Nifty 200 fell 083 per cent The Nifty 500 index slipped 079 per cent reflecting overall market pressureCategorywise midcap and smallcap segments also witnessed selling with Nifty Midcap 50 down 071 per cent while Nifty Smallcap 100 and Nifty Smallcap 50 both fell 06 per cent eachIn addition the volatility tracker index India VIX increased by 158 per cent to almost 20Analysts said market sentiment weakened sharply as geopolitical tensions escalated after uncertainty over Iran ceasefire talks and continued disruptions at the Strait of HormuzRising crude prices rupee weakness and institutional selling have reinforced a riskoff environment they addedFor Nifty market experts stated that the index encountered resistance near the 24300 level which previously acted as support and has now turned into an immediate resistance band in the 24300â24400 range thereby capping further upsideFrom a technical standpoint this zone continues to function as a key supply area indicating persistent selling pressure at higher levels On the downside the 24100â24000 range now serves as immediate support and a decisive break below this zone could accelerate the decline towards the 23800 level according to themMoreover currency experts said that the rupee weakened past the 94 mark amid strong dollar demand and a shift towards safehaven assets with rising crude prices and a firm US dollar adding pressureMeanwhile global cues remained weak with Brent crude rising around 4 per cent to 10586 per barrel amid supply concerns linked to the ongoing geopolitical tensions IANS https://dailyworld.in/business/indians-stock-markets-fall-for-2nd-day-over-west-asia-tensions-670864.html Thu, 23 Apr 2026 18:11:00 +0530 https://dailyworld.in/business/s-korea-freezes-price-caps-on-fuel-products-for-another-2-weeks-670868.html Seoul April 23 The government here said on Thursday it will maintain the current price ceilings on fuel products for another two weeks considering international oil prices and demandside controls Maximum prices for regular gasoline diesel and kerosene supplied to gas stations by local oil refineries will remain unchanged at 1934 won US13 1923 won and 1530 won per litre respectively for the next two weeks according to the Ministry of Trade Industry and ResourcesIt marks the second consecutive time the government froze price ceilings at the current level The government sets maximum prices for fuel products every two weeks under the price cap system introduced in midMarch to stabilize domestic fuel pricesThe government decided to implement price caps in light of lingering volatility in the global energy market due to the fragile ceasefire between the United States and Iran as well as the need to manage domestic demand for fuel products despite a recent fall in international fuel prices the ministry explainedOver the past two weeks global gasoline prices fell by around 8 percent diesel prices by 14 percent and kerosene prices by 2 percent according to the ministryRegarding the prime ministers remarks the previous day that the government will decide whether to keep the price cap system after a careful review Nam Kyungmo policy advisor to the industry minister said the government is currently not considering terminating the measure as there are uncertainties surrounding the Middle East situation and fuel prices are still high compared with prewar levelsNam reaffirmed the governments plan to provide fiscal compensation for losses the oil refineries suffer due to the price ceiling systemHad the government not implemented the system the prices of gasoline diesel and kerosene oil refineries sell to gas stations would have been around 2200 won 2800 won and 2500 won respectively according to NamOn the supply of industrial materials the ministry said the government is continuing efforts to prevent supply disruptions of materials essential for the medical sector noting that sufficient supplies of IV solution packaging materials syringes and medical gloves have been securedNo disruption is being witnessed with supplies of key industrial materials for the semiconductor automobile shipbuilding and other advanced industries as South Korea is importing alternative helium hydrogen bromide and other materials it added IANS https://dailyworld.in/business/s-korea-freezes-price-caps-on-fuel-products-for-another-2-weeks-670868.html Thu, 23 Apr 2026 18:17:00 +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