DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Sat, 16 May 2026 16:14:27 +0530 en https://dailyworld.in/business/govt-revises-petrol-export-tax-cuts-diesel-atf-duties-674058.html New Delhi May 16 The government has revised export taxes on petroleum products imposing a special additional excise duty SAED of Rs 3 per litre on petrol exports while reducing the duty on diesel to Rs 165 per litre effective from Saturday The notification by the Ministry of Finance stated that the entry of Rs 3 per litre shall be substituted for petrol exports while diesel has been revised to Rs 165 per litreIt further said the road and infrastructure cess has been reduced to zero on petrol and diesel exportsDomestic fuel tax rates remain unchanged according to the governmentThe fresh SAED levy on petrol exports marks the first such duty since the outbreak of the West Asia conflictWhile export duties on diesel and ATF have been reduced from higher levels after a series of revisions in recent monthsEarlier export duty on diesel was revised multiple times It was first set at Rs 2150 per litre on March 26 then raised to Rs 555 per litre on April 11 Later it was cut to Rs 23 per litre on April 30 and has now been further reduced to Rs 165 per litreSimilarly aviation turbine fuel ATF followed a similar pattern The duty was first Rs 295 per litre then increased to Rs 42 per litre It was later reduced to Rs 33 per litre and has now been brought down to Rs 16 per litreThe windfall tax framework was introduced to ensure adequate domestic fuel availability and curb exports amid volatile global oil markets triggered by the West Asia crisisGeopolitical tensions remain elevated after the United States and Iran failed to reach a peace agreement with US President Donald Trump rejecting Iranâs proposal saying âI donât like it â TOTALLY UNACCEPTABLEâ IANS https://dailyworld.in/business/govt-revises-petrol-export-tax-cuts-diesel-atf-duties-674058.html Sat, 16 May 2026 11:08:00 +0530 https://dailyworld.in/business/sensex-nifty-slide-over-2-pc-amid-crude-surge-geopolitical-tensions-674063.html Mumbai May 16 Domestic equity markets witnessed another week of sharp correction with benchmark indices declining over 2 per cent each amid rising crude oil prices and ongoing geopolitical tensions in West Asia Nifty declined by 22 per cent or 532 points during the week to close at 236435 against the previous Fridays closing while Sensex dropped 27 per cent or over 2000 points to end at 75238Meanwhile broader markets remained under heavier pressure with the midcap index falling over 2 per cent and the smallcap index losing nearly 4 per centSectorally realty stocks were worst performers with BSE Realty plunging almost 8 per centMeanwhile IT stocks also remained under pressure with the BSE IT index falling 57 per cent followed by auto capital goods and consumer durable sharesIn addition banking and PSU stocks also witnessed selling pressure with the BSE Bankex and BSE PSU indices declining 3 per cent eachHowever few defensive sectors outperformed with BSE Metal gaining 15 per cent while healthcare stocks rose 14 per centFrom the 30scrip basket Titan Company was the top loser falling 76 per cent followed by Reliance Industries Tech Mahindra and Mahindra amp MahindraAccording to market experts investor sentiment remained cautious amid the lack of meaningful deescalation in West Asia tensions and their impact on crude oil prices inflation and the rupeeThey said elevated crude prices rising global bond yields and sustained strength in the US dollar continued to pressure emerging markets leading to intermittent foreign fund outflows and currency weaknessAnalysts further noted that higher wholesale inflation fuel price passthrough and elevated bond yields have increased concerns over macroeconomic stability and future monetary policy actionsIn addition global cues also remained negative as tensions in West Asia continued without any breakthrough Moreover concerns over disruptions in the Strait of Hormuz kept Brent crude oil prices elevated in the 105110 per barrel rangeDespite the correction domestic institutional investors continued to provide support to the market aided by strong retail participationAdditionally SIP inflows in April stood at Rs 31115 crore helping absorb sustained FII selling IANS https://dailyworld.in/business/sensex-nifty-slide-over-2-pc-amid-crude-surge-geopolitical-tensions-674063.html Sat, 16 May 2026 11:14:00 +0530 https://dailyworld.in/business/domestic-investors-infuse-rs-18-520-crore-amid-fii-outflows-674067.html Mumbai May 16 Domestic institutional investors DIIs continued to cushion domestic equity markets with net purchases worth Rs 18520 crore during the week even as foreign institutional investors FIIs remained net sellers amid elevated market volatility and persistent global uncertainties According to provisional exchange data FIIs offloaded equities worth Rs 13580 crore during the week while DIIs remained net buyersIn May FIIs have sold equities worth Rs 24660 crore whereas DIIs have infused Rs 39920 crore into domestic markets so farFIIs remained net sellers during the first three trading sessions of the week with cumulative outflows of nearly Rs 15100 crore However foreign investors turned net buyers in the final two sessions recording inflows of Rs 1520 croreMeanwhile DIIs remained net buyers in four out of the five trading sessions last week They turned net sellers only on Friday with outflows of Rs 1960 croreAnalysts said that markets witnessed heightened volatility during the week amid rising crude oil prices a weakening rupee ongoing geopolitical tensions in West Asia and uncertainty surrounding highstakes USChina diplomatic talks in BeijingNifty started the week on a weak note and touched an intraweek low of 23263 during Wednesdayâs session Although the benchmark index witnessed a sharp rebound on Thursday it failed to sustain momentum and eventually ended the week 22 per cent lower they saidThe experts further noted that institutional flows are likely to remain sensitive to developments related to USIran tensions crude oil price movement and the ongoing quarterly earnings seasonIn addition domestic equity benchmarks extended their losses for another week with Nifty 50 falling 22 per cent or 532 points to settle at 236435 while Sensex declined 27 per cent or over 2000 points to close at 75238 compared to the previous Fridayâs close IANS https://dailyworld.in/business/domestic-investors-infuse-rs-18-520-crore-amid-fii-outflows-674067.html Sat, 16 May 2026 11:34:00 +0530 https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-at-sona-college-in-tamil-nadu-674070.html New Delhi May 16 A MeitYbacked ChipIN Centre focused on semiconductor design education and VLSI research has been inaugurated at Sona College of Technology on Saturday to strengthen Indiaâs semiconductor ecosystem and chip design capabilities The âSona ChipIN Centreâ established at the Department of Electronics and Communication Engineering ECE has been set up under the Chips to Startup C2S programme supported by the Ministry of Electronics and Information Technology MeitY CDAC and the ChipIN Centre initiativeThe facility is equipped with advanced Electronic Design Automation EDA tools valued at Rs 100 million enabling students researchers and faculty members to work on semiconductor design VLSI research and industryoriented innovation projectsThe centre was inaugurated by Dr V Veerappan Chairman of the India Electronics and Semiconductor Association and Shekar Viswanathan former ViceChairman of Toyota Kirloskar MotorSona Institutions Chairman C Valliappa said the Centre should work towards developing a âMade in Indiaâ chip within the next 2436 months in alignment with the governmentâs India Semiconductor MissionMeanwhile Sona Institutions Vice Chairman Chocko Valliappa said the initiative assumes significance amid Indiaâs rapidly growing semiconductor ecosystem and the countryâs entry into advanced 3nm chip development capabilitiesHe added that apart from indigenous chip development the centre will help produce industryready semiconductor engineersAccording to the institution the ECE Department will utilise the facility to train students across multiple programmes including Electronics and Communication Engineering Electrical and Electronics Engineering Electronics Engineering VLSI Design and Technology Electronics and Computer Engineering and ME VLSI DesignThe software ecosystem at the centre includes semiconductor and chip design platforms from leading global technology firmsThe C2S Programme is a national capacitybuilding initiative launched by MeitY in 2022 with an outlay of Rs 250 crore over five years to strengthen Indiaâs semiconductor and chip design ecosystem across academic institutionsThe programme aims to create 85000 industryready professionals across undergraduate postgraduate and doctoral levels in chip design and VLSIrelated fields according to the government IANS https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-at-sona-college-in-tamil-nadu-674070.html Sat, 16 May 2026 11:57:00 +0530 https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-in-tamil-nadu-to-boost-made-in-india-chip-push-674071.html New Delhi May 16 A MeitYbacked ChipIN Centre focused on semiconductor design education and VLSI research has been inaugurated at Sona College of Technology on Saturday to strengthen Indiaâs semiconductor ecosystem and chip design capabilities The âSona ChipIN Centreâ established at the Department of Electronics and Communication Engineering ECE has been set up under the Chips to Startup C2S programme supported by the Ministry of Electronics and Information Technology MeitY CDAC and the ChipIN Centre initiativeThe facility is equipped with advanced Electronic Design Automation EDA tools valued at Rs 100 million enabling students researchers and faculty members to work on semiconductor design VLSI research and industryoriented innovation projectsThe centre was inaugurated by Dr V Veerappan Chairman of the India Electronics and Semiconductor Association and Shekar Viswanathan former ViceChairman of Toyota Kirloskar MotorSona Institutions Chairman C Valliappa said the Centre should work towards developing a âMade in Indiaâ chip within the next 2436 months in alignment with the governmentâs India Semiconductor MissionMeanwhile Sona Institutions Vice Chairman Chocko Valliappa said the initiative assumes significance amid Indiaâs rapidly growing semiconductor ecosystem and the countryâs entry into advanced 3nm chip development capabilitiesHe added that apart from indigenous chip development the centre will help produce industryready semiconductor engineersAccording to the institution the ECE Department will utilise the facility to train students across multiple programmes including Electronics and Communication Engineering Electrical and Electronics Engineering Electronics Engineering VLSI Design and Technology Electronics and Computer Engineering and ME VLSI DesignThe software ecosystem at the centre includes semiconductor and chip design platforms from leading global technology firmsThe C2S Programme is a national capacitybuilding initiative launched by MeitY in 2022 with an outlay of Rs 250 crore over five years to strengthen Indiaâs semiconductor and chip design ecosystem across academic institutionsThe programme aims to create 85000 industryready professionals across undergraduate postgraduate and doctoral levels in chip design and VLSIrelated fields according to the government IANS https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-in-tamil-nadu-to-boost-made-in-india-chip-push-674071.html Sat, 16 May 2026 11:58:00 +0530 https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-in-tamil-nadu-to-boost-make-in-india-chip-push-674072.html New Delhi May 16 The MeitYbacked ChipIN Centre focused on semiconductor design education and VLSI research has been inaugurated at Sona College of Technology in Tamil Nadu to strengthen Indiaâs semiconductor ecosystem and support the countryâs âMake in Indiaâ chip push The âSona ChipIN Centreâ established at the Department of Electronics and Communication Engineering ECE has been set up under the Chips to Startup C2S programme supported by the Ministry of Electronics and Information Technology MeitY CDAC and the ChipIN Centre initiativeThe facility is equipped with advanced Electronic Design Automation EDA tools valued at Rs 100 million enabling students researchers and faculty members to work on semiconductor design VLSI research and industryoriented innovation projectsThe centre was inaugurated by Dr V Veerappan Chairman of the India Electronics and Semiconductor Association and Shekar Viswanathan former ViceChairman of Toyota Kirloskar MotorSona Institutions Chairman C Valliappa said the Centre should work towards developing a âMade in Indiaâ chip within the next 2436 months in alignment with the governmentâs India Semiconductor MissionMeanwhile Sona Institutions Vice Chairman Chocko Valliappa said the initiative assumes significance amid Indiaâs rapidly growing semiconductor ecosystem and the countryâs entry into advanced 3nm chip development capabilitiesHe added that apart from indigenous chip development the centre will help produce industryready semiconductor engineersAccording to the institution the ECE Department will utilise the facility to train students across multiple programmes including Electronics and Communication Engineering Electrical and Electronics Engineering Electronics Engineering VLSI Design and Technology Electronics and Computer Engineering and ME VLSI DesignThe software ecosystem at the centre includes semiconductor and chip design platforms from leading global technology firmsThe C2S Programme is a national capacitybuilding initiative launched by MeitY in 2022 with an outlay of Rs 250 crore over five years to strengthen Indiaâs semiconductor and chip design ecosystem across academic institutionsThe programme aims to create 85000 industryready professionals across undergraduate postgraduate and doctoral levels in chip design and VLSIrelated fields according to the government IANS https://dailyworld.in/business/meity-backed-chipin-centre-inaugurated-in-tamil-nadu-to-boost-make-in-india-chip-push-674072.html Sat, 16 May 2026 11:59:00 +0530 https://dailyworld.in/business/tcs-scales-up-humanai-strategy-amid-enterprise-ai-push-chairman-n-chandrasekaran-674088.html New Delhi May 16 Indiaâs leading software services provider Tata Consultancy Services TCS is repositioning itself as an AI and digital transformation partner as it sharpens focus on fullstack artificial intelligence solutions across industries Chairman N Chandrasekaran has said In a message to shareholders in the companyâs FY26 annual report Chandrasekaran said enterprises are rapidly accelerating adoption of generative and agentic AI technologiesTCS also scaled up execution of its Human AI operating model and expanded its industryspecific agent marketplace during the fiscal year he notedAccording to Chandrasekaran AI is evolving from being merely a technology layer to becoming the âinfrastructure of intelligenceâ for businessesHe said enterprises are expected to increasingly move from AI pilot projects to largescale deployment embedding AI into core business operations supply chains and decisionmaking processesTCS generated annualised revenue of 23 billion from AI services during FY26 while its newage services portfolio including cloud data enterprise solutions and cyber security contributed 115 billion in annualised revenueThe company reported total revenue of 30 billion for FY26 and secured deal wins with a total contract value of 407 billion during the yearDuring FY26 TCS expanded into the data centre business and acquired firms to strengthen capabilities linked to AI infrastructure and adjacent technologiesThe company recently launched âHyperVaultâ an AI infrastructure platform developed in partnership with TPGChandrasekaran said India is emerging as a strategic alternative destination for AI infrastructure amid rising global constraints related to power computing capacity and geographyTCS is building what it claims will be Indiaâs first AIfocused highdensity data centre with rack density exceeding 160 KWTCS CEO and Managing Director K Krithivasan said FY27 would be a pivotal year for the company as it aims to become the worldâs largest AIled technology services companyKrithivasan added that TCS plans to build industryspecific AI systems strengthen its AI infrastructure offerings through partnerships and develop secure and resilient sovereign AI infrastructure capabilities IANS https://dailyworld.in/business/tcs-scales-up-humanai-strategy-amid-enterprise-ai-push-chairman-n-chandrasekaran-674088.html Sat, 16 May 2026 13:57:00 +0530 https://dailyworld.in/business/gold-silver-surge-nearly-4-pc-this-week-amid-geopolitical-tensions-volatile-crude-674100.html Mumbai May 16 Gold and silver prices jumped by nearly 4 per cent this week amid persistent geopolitical uncertainty and volatile crude oil prices On the Multi Commodity Exchange MCX gold futures June 5 settled 394 per cent or Rs 6017 higher at Rs 158547 on FridaySimilarly silver futures July 3 ended 38 per cent or Rs 9964 higher at Rs 271886 on the commodity exchangeDuring the week the yellow metal surged as much as 784 per cent or Rs 11967 to touch an intraday high of Rs 164497 on May 13 On the downside it slipped up to 067 per cent or Rs 1030 to an intraday low of Rs 151500 on May 11Silver meanwhile rallied as much as 1640 per cent or Rs 42969 to hit an intraday high of Rs 304891 on May 13 It declined by 035 per cent or Rs 936 to touch an intraday low of Rs 260986 on May 11According to market experts MCX gold futures traded near the Rs 158000159000 range after witnessing selling pressure from higher levels although the broader trend remains positiveAnalysts said immediate resistance for gold is seen around Rs 160000161000 while the Rs 155000154000 range remains a key support zoneThey added that prices may remain rangebound in the near term unless gold decisively moves above major resistance levelsMCX silver futures are trading near the Rs 270000272000 range after sharp profit booking from recent highs around Rs 305000 according to themThey said silver continues to hold above important support levels despite elevated volatility indicating buying interest on declines However immediate resistance is seen near Rs 280000284000 while the Rs 265000260000 zone is expected to provide nearterm supportAccording to data published by the India Bullion and Jewellers Association IBJA the price of 10 grams of 24carat gold stood at Rs 158159 on Friday IANS https://dailyworld.in/business/gold-silver-surge-nearly-4-pc-this-week-amid-geopolitical-tensions-volatile-crude-674100.html Sat, 16 May 2026 14:36:00 +0530 https://dailyworld.in/business/maharashtra-seeks-firs-against-ola-uber-rapido-over-alleged-illegal-bike-taxi-operations-674113.html New Delhi May 16 Maharashtra Transport Minister Pratap Sarnaik has directed the Cyber Crime department to lodge FIRs against Ola Uber and Rapido over alleged illegal bike taxi operations in the state The minister further clarified that appbased mobility platforms Ola Uber and Rapido continue to operate in the state as we sought legal action against their alleged unauthorised bike taxi servicesThe clarification came after reports circulated on social media claiming that the services of Ola Uber and Rapido had been completely shut down in MaharashtraIn a post on X the Directorate General of Information and Public Relations DGIPR Maharashtra said such reports were misleading and stated that the governmentâs action is limited only to illegal bike taxi operationsâThe claim circulating on social media that all services of Ola Uber and Rapido have been completely shut down in Maharashtra is misleadingâ it saidâThe transport department has taken a strict stance against unauthorised bike taxi services operating illegally in the stateâ DGIPR addedAccording to the state government Sarnaik has written to the Cyber Crime department requesting immediate action against unauthorised bike taxi app services operating through the three platformsThe minister also asked the department to file FIRs against the companies over the alleged operationsâTransport Minister Sarnaik has written to the cybercrime department demanding the immediate shutdown of unauthorised bike taxi app services like Ola Uber and Rapido and the filing of FIRs against the respective company ownersâ it statedâAt the same time the Transport Commissioner has also sent a letter to the Cyber Crime department in this regardâ it addedHowever there is no official comment on the development from the companies yetBike taxi services have repeatedly faced regulatory challenges in Maharashtra over concerns related to legality licensing norms and compliance with transport regulationsAppbased mobility operators offering twowheeler taxi services have also encountered policyrelated hurdles in the state in the past as authorities continue to examine the framework governing such operations IANS https://dailyworld.in/business/maharashtra-seeks-firs-against-ola-uber-rapido-over-alleged-illegal-bike-taxi-operations-674113.html Sat, 16 May 2026 15:56:00 +0530 https://dailyworld.in/business/indian-markets-trade-flat-amid-mixed-global-cues-oil-prices-rise-673960.html Mumbai May 15 Indian equity markets traded flat in early trade on Friday amid mixed global cues from Asian and US markets Nifty was trading at 23663 down 011 per cent or 2625 points from the previous close while Sensex was at 75251 lower by 02 per cent or 147 points in the morning sessionOn the sectoral front indices such as Nifty Metal Nifty Realty and Nifty Oil amp Gas were among the top losers declining up to 1 per cent Meanwhile Hindalco Industries Trent Bharat Electronics Ltd BEL Eternal and Asian Paints were among the top laggards in the Nifty packOn the other hand Nifty IT and Nifty Auto emerged as the top gainers Categorywise smallcap and microcap stocks remained under pressureAccording to a market expert the decision to increase petrol and diesel prices by Rs 3 per litre and CNG prices by Rs 2 per kg indicates that the government is playing it safe through gradual hikes without triggering a sharp spike in costpush inflationâThis is a welcome stepâ the expert saidThe expert further stated that investors need to watch certain market trends closely adding that the market is responding strongly to robust Q4 earnings with some stocks witnessing doubledigit gains while poor results are leading to sharp doubledigit declines in other countersâThis reflects the gap between market expectations and actual results Another important trend is the continuing weakness in IT stocks and sustained strength in pharmaceutical stocks This reflects the marketâs perception of the prospects of these sectors in the current challenging environmentâ the analyst addedIn the commodities market global benchmark Brent crude rose 157 per cent to trade at 10738 while US West Texas Intermediate WTI crude advanced 172 per cent to 10292Asian markets meanwhile witnessed a mixed trend Japanâs Nikkei and Hong Kongâs Hang Seng declined around 1 per cent each while South Koreaâs KOSPI dropped more than 3 per centIn the US Wall Street closed on a positive note overnight with the SampP 500 gaining 077 per cent and the Nasdaq ending 088 per cent higher IANS https://dailyworld.in/business/indian-markets-trade-flat-amid-mixed-global-cues-oil-prices-rise-673960.html Fri, 15 May 2026 09:53:00 +0530 https://dailyworld.in/business/itr-filing-process-for-ay-2026-27-officially-begins-673967.html New Delhi May 15 The Income Tax Department on Friday said that it enabled the filing of Income Tax Returns ITRs for the financial year 202526 assessment year 202627 with the release of Excel utilities for ITR1 and ITR4 forms on efiling portal Announcing the update on social media platform X the department said taxpayers can now access both the Excel utility and online filing options for the two formsWith the announcement of the offline utilities the ITR filing process for AY 202627 has officially commenced Now taxpayers can fill out the forms offline and generate a JSON file and upload it to the Income Tax Departmentâs efiling website after completing verification However nonaudit taxpayers are generally required to file their returns by July 31At present seven different ITR forms are available depending on the nature of income and taxpayer categoryITR1 known as Sahaj is meant for resident individuals excluding not ordinarily resident taxpayers having an annual income of up to Rs 50 lakhITR4 known as Sugam applicable to resident individuals Hindu Undivided Families HUFs and firms other than LLPs with annual income up to Rs 50 lakhEarlier the Central Board of Direct Taxes CBDT had notified the ITR forms for AY 202627 with revised disclosure norms The changes include additional reporting requirements related to longterm capital gains losses from share buybacks and certain trading transactionsNotably Indiaâs net direct tax collections recorded steady growth in the financial year 2025â26 rising 512 per cent yearonyear to Rs 2340406 crore according to data released by the Central Board of Direct Taxes CBDT IANS https://dailyworld.in/business/itr-filing-process-for-ay-2026-27-officially-begins-673967.html Fri, 15 May 2026 10:59:00 +0530 https://dailyworld.in/business/openai-launches-codex-in-chatgpt-mobile-app-for-ios-android-673999.html New Delhi May 15 OpenAI the parent company of ChatGPT has integrated its AI coding assistant Codex into the ChatGPT mobile app for iOS and Android users allowing developers to monitor manage and approve coding tasks remotely from their smartphones The feature is currently being introduced in preview mode across all ChatGPT plans including Free and Go in supported regionsWith the integration users can connect their phones to machines running Codex including laptops Mac minis devboxes and managed remote environments and access live project updates directly through the ChatGPT appAccording to OpenAI the mobile experience allows users to review outputs approve commands switch AI models start new coding tasks and monitor ongoing threads without returning to their desktop systemsâRealtime updates such as screenshots terminal output diffs test results and approvals are synced to the mobile app while files credentials and permissions remain on the connected machineâ the AI company saidThe company further highlighted that more than 4 million users are now using Codex every weekâRemote SSH support and hooks are now generally available across all plans while programmatic access tokens have been introduced for Enterprise and Business usersâ the company saidIn addition OpenAI said HIPAAcompliant use of Codex in local environments will be supported for eligible ChatGPT Enterprise workspaces aimed at healthcare and enterprise applicationsThe company announced that support for connecting the ChatGPT mobile app to Codex running on Windows systems will be introduced soon IANS https://dailyworld.in/business/openai-launches-codex-in-chatgpt-mobile-app-for-ios-android-673999.html Fri, 15 May 2026 12:57:00 +0530 https://dailyworld.in/business/global-oil-shock-petrol-and-diesel-prices-up-by-rs-3-per-litre-cng-gets-costlier-by-rs-2-674002.html New Delhi May 15 IANS As oil marketing companies OMCs face mounting losses amid the ongoing West Asia crisis they raised petrol and diesel prices by Rs 3 per litre each on FridaynbspThe revised rates came into effect immediately across the countrynbspIn Delhi petrol prices rose by Rs 314 per litre to Rs 9777 while diesel became costlier by Rs 311 per litreMeanwhile amid the Middle East crisis oil companies have also raised CNG prices Effective Friday the price of CNG has increased by Rs 2 per kilogram The new CNG rate in Delhi is Rs 7909 per kilogramThe OMCs continue to face mounting financial losses from keeping retail fuel prices unchanged despite surge in crude oil pricesnbspThe combined underrecovery on petrol diesel and LPG has reached nearly Rs 30000 crore every month according to Sujata Sharma Joint Secretary in the Union Petroleum MinistryOur OMCs are buying crude oil at higher rates but are not selling at corresponding rates to protect our consumers This impacts their finances said SharmanbspShe further said the Centre had already cut excise duties on petrol and diesel sacrificing nearly Rs 14000 crore in monthly revenue but underrecoveries continue to widen she informedIndias staterun oil marketing companies OMCs are staring at the possibility of their entire FY26 profits being wiped out if crude oil prices remain elevated Petroleum Minister Hardeep Singh Puri warned amid escalating tensions in the Middle EastSpeaking at the CII Annual Business Summit 2026 this week Puri said the ongoing energy crisis triggered by the conflict in the Middle East has sharply increased pressure on Indian fuel retailers with oil marketing companies currently losing nearly Rs 1000 crore every dayHe estimated that their combined quarterly losses could touch around Rs 1 lakh crore if current trends continueThe warning comes at a time when global crude oil prices have surged past the psychologically important 100 per barrel mark due to fears of prolonged supply disruptions linked to the USIran conflictThe financial stress on staterun fuel retailers has become so severe that a single quarter of losses at prevailing crude price levels could potentially erase their entire profit after tax for FY26 the minister statedThe three major public sector oil retailers Indian Oil Corporation Bharat Petroleum and Hindustan Petroleum are projected to report combined losses of nearly Rs 12 lakh crore in the first quarter of FY27 alone according to industry estimates cited during the discussionIANS https://dailyworld.in/business/global-oil-shock-petrol-and-diesel-prices-up-by-rs-3-per-litre-cng-gets-costlier-by-rs-2-674002.html Fri, 15 May 2026 13:10:00 +0530 https://dailyworld.in/business/india-africa-bilateral-trade-reaches-9369-billion-in-202526-674015.html New Delhi May 15 IANS Bilateral trade between India and Africa reached 9369 billion in 202526 registering a growth of 1439 per cent over the previous year according to the governmentnbspIndias exports to Africa stood at 4542 billion while imports reached 4827 billion during the same periodAccording to Commerce Minister Piyush Goyal India and Africa together can shape a more inclusive resilient and innovationdriven future for the Global SouthAddressing a curtainraiser event for the forthcoming IndiaAfrica Business Dialogue IABD and Exhibition the minister emphasised the need to build upon existing trade ties and preferential trade frameworks by aligning standards customs procedures and business practices to facilitate faster and smarter growth for businesses on both sidesnbspHighlighting the immense economic potential of collaboration between India and Africa he noted that the African Continental Free Trade Area AfCFTA valued at nearly 34 trillion together with Indias rapidly expanding 4 trillion economy presents immense opportunities to create resilient partnerships diversify supply chains and move beyond raw material trade towards highervalue manufacturing and integrated value chainsHe further underlined the importance of technology transfer and youthdriven growth in shaping the future of IndiaAfrica cooperationnbspStressing that nearly twothirds of the population of India and Africa was below the age of 35 he called for greater focus on skilling startups innovation ecosystems and talent development to prepare the workforce for industries of the futurenbspGoyal underlined that the next phase of IndiaAfrica partnership must move beyond traditional raw material trade towards highervalue products integrated supply chains local manufacturing and technologydriven cooperationnbspHe identified agriculture and food processing digital public infrastructure healthcare and pharmaceuticals renewable energy critical minerals electric mobility manufacturing defence production and emerging technologies as key sectors for future collaborationThe IABD and Exhibition is envisioned as a premier platform to deepen economic and strategic engagement between India and African nations through enhanced trade investment technology partnerships and peopletopeople collaborationIANS https://dailyworld.in/business/india-africa-bilateral-trade-reaches-9369-billion-in-202526-674015.html Fri, 15 May 2026 13:39:00 +0530 https://dailyworld.in/business/gold-silver-tumble-up-to-4-pc-amid-stronger-dollar-rising-crude-prices-674016.html New Delhi May 15 IANS Gold and silver prices traded sharply lower on Friday with both precious metals declining in domestic trade by up to 4 per cent amid strength in the dollar indexnbspOn the Multi Commodity Exchange MCX gold futures for June 5 fell as much as 152 per cent or Rs 2478 to touch an intraday low of Rs 159500 as of 1045 amMeanwhile silver futures for July 3 came under heavier pressure plunging 412 per cent or Rs 12000 to Rs 279102At the last count the yellow metal was trading at Rs 159792 down 134 per cent or Rs 2186 It touched an intraday high of Rs 160992 which was 06 per cent or Rs 986 lower than the previous closeOn the other hand the white metal was trading at Rs 280091 down 378 per cent or Rs 11011 from the previous close It recorded an intraday high of Rs 283219 marking a decline of 27 per centEarlier in the session gold and silver opened at Rs 160790 and Rs 280000 on the MCX respectivelyWeakness in gold and silver prices was also visible in international markets COMEX gold was trading 154 per cent lower at 4615 per ounce while COMEX silver declined 447 per cent to 8149 per ounceAccording to commodity market experts gold prices remained under pressure globally as rising US inflation strengthened expectations that the US Federal Reserve may keep interest rates elevated for longerThey noted that persistent geopolitical tensions in West Asia and disruption in energy shipments through the Strait of Hormuz have fuelled inflationary concerns and supported the US dollar weighing on precious metalsExperts further said silver prices also extended losses amid broader weakness in the metals complex although the metal continued to draw support from expectations of strong industrial demand from sectors such as electronics and solar energyMeanwhile crude oil prices rose more than 1 per cent with international benchmark Brent crude gaining 157 per cent to 10738 per barrel Similarly US West Texas Intermediate WTI crude advanced 172 per cent to 10292 per barrelIANS https://dailyworld.in/business/gold-silver-tumble-up-to-4-pc-amid-stronger-dollar-rising-crude-prices-674016.html Fri, 15 May 2026 13:45:00 +0530 https://dailyworld.in/business/iit-roorkee-develops-high-resolution-climate-dataset-for-india-to-boost-disaster-preparedness-674021.html New Delhi May 15 Researchers at Indian Institute of Technology Roorkee on Friday developed and released an openaccess highresolution climate projection dataset named INDRACMIP6 aimed at helping India improve regional climate adaptation disaster preparedness and climate risk assessment Developed by researchers from the Department of Hydrology at IIT Roorkee and published in the journal Nature Portfolioâs âScientific Dataâ the dataset provides daily rainfall and temperature projections for the Indian subcontinent at a spatial resolution of nearly 10 kilometresThe initiative seeks to address a major challenge associated with global climate models whose coarsescale projections often fail to accurately represent Indiaâs complex terrain monsoon systems and regional weather extremesIndia has been witnessing increasing impacts of climate change in recent years including rising temperatures erratic monsoon patterns urban flooding heat stress and growing pressure on water resourcesResearchers said adaptation measures such as urban drainage planning embankment strengthening flood preparedness and climateresilient agriculture require climate projections at district and riverbasin scales rather than broad continental averagesThe INDRACMIP6 dataset has been created using outputs from 14 CMIP6 global climate models through a statistical downscaling method known as Double BiasCorrected Constructed Analogue DBCCAAccording to the researchers the approach improves the representation of daily weather variability regional rainfall distribution and temperature extremes across the Indian subcontinentThe dataset includes daily precipitation minimum temperature and maximum temperature projections at a 01 à 01 resolutionResearchers have also provided both individual climate model outputs and a multimodel ensemble allowing users to compare different projections and evaluate uncertainty instead of relying on a single climate pathwayTechnical validation conducted by the research team showed that INDRACMIP6 significantly reduces systematic errors commonly found in raw global climate model outputsIt also improves the simulation of extreme rainfall events and temperature extremes which are particularly important for regions where local geography monsoon behaviour and topography strongly influence climate risks IANS https://dailyworld.in/business/iit-roorkee-develops-high-resolution-climate-dataset-for-india-to-boost-disaster-preparedness-674021.html Fri, 15 May 2026 14:35:00 +0530 https://dailyworld.in/business/ccpa-cracks-down-on-misleading-coaching-ads-fines-motion-education-rs-10-lakh-clc-rs-5-lakh-674029.html New Delhi May 15 The Central Consumer Protection Authority CCPA on Friday imposed penalties on two major coaching institutes Motion Education Private Limited and Career Line Coaching CLC for allegedly publishing misleading advertisements and indulging in unfair trade practices under the Consumer Protection Act 2019 The consumer watchdog levied a penalty of Rs 10 lakh on Motion Education Private Limited and Rs 5 lakh on Career Line Coaching CLC Sikar after finding that both institutes made exaggerated claims about student success in IITJEE and NEET examinations while concealing crucial details regarding the actual courses attended by successful candidatesThe orders were passed by the CCPA headed by Chief Commissioner Nidhi Khare and Commissioner Anupam Mishra with the aim of protecting consumer rights and ensuring transparency in the coaching sectorIn the case of Motion Education the Authority took suo motu cognisance of advertisements published on the instituteâs official website YouTube channel Instagram account and newspapersThe institute had prominently advertised claims such as â5102 per cent qualified students in JEE Advancedâ â912 per cent qualified students in NEETâ and highlighted toppers and highranking students while simultaneously promoting its paid classroom and residential programmesHowever the investigation conducted by the Director General Investigation found that many of the students featured in these advertisements were actually enrolled in âIEklavyaâ a special rankersâ batch offered free of cost to selected students through tests and interviews The CCPA observed that the institute failed to disclose this important fact in its advertisements thereby creating a misleading impression that the success was linked to its paid programmesThe Authority further found that some students whose names and photographs were used in advertisements had joined the institute only after appearing for the examinations According to the investigation this falsely attributed their success to the coaching institute for promotional purposes It was also observed that the institute had used names and photographs of students without obtaining proper consent from the students or their parentsThe CCPA noted that Motion Education failed to substantiate several claims despite repeated directions to provide documentary proof It held that concealment of information regarding the actual courses undertaken by successful candidates amounted to misleading advertisement and unfair trade practice under the Consumer Protection Act 2019Similarly Career Line Coaching CLC Sikar came under scrutiny over claims such as â1650 CLCians in MBBS IIT amp Othersâ â2 CLCians in NEET AIR100â and â3 CLCians at AIIMS Delhiâ The Authority observed that the institute prominently showcased successful students while promoting classroom programmes without clearly disclosing whether those students had attended fulltime coaching crash courses or merely test series programmesThe investigation revealed that several students featured in the advertisements were enrolled only for test series courses a fact that was allegedly concealed from consumers The Authority also pointed out contradictions in the instituteâs submissions regarding its claim of â1650 CLCiansâ While the institute initially stated that the figure represented cumulative selections since 1996 it later claimed during hearings that the number referred only to the year 2024The CCPA held that such contradictory statements rendered the claims misleading and unsubstantiated It also found that the institute failed to produce documentary evidence proving that written consent had been obtained from successful candidates after declaration of results as required under the Guidelines for Prevention of Misleading Advertisement in Coaching Sector 2024The Authority directed both institutes to immediately discontinue the misleading advertisements refrain from publishing similar advertisements in future and ensure truthful and complete disclosures in all promotional material Both institutes have challenged the CCPAâs orders before the National Consumer Disputes Redressal Commission IANS https://dailyworld.in/business/ccpa-cracks-down-on-misleading-coaching-ads-fines-motion-education-rs-10-lakh-clc-rs-5-lakh-674029.html Fri, 15 May 2026 15:17:00 +0530 https://dailyworld.in/business/13-high-activity-clusters-to-dominate-70-80-pc-of-industrial-warehousing-activity-in-india-673794.html New Delhi May 14 Thirteen highactivity clusters which together dominate industrial and warehousing activity across a broader universe of 40 clusters in India are likely to command 7080 per cent of the market in the coming years a report showed on Thursday Indiaâs industrial and warehousing market has emerged as one of the bestperforming real estate asset classes marked by rising scale and Grade A stock touching 300 million square feet â almost twice the inventory levels of 2021 said the Colliers India report The 13 highactivity clusters have been identified based on strong demandsupply fundamentals each witnessing over 4 million sq ft of cumulative leasing and fresh supply respectively since 2021 Interestingly these highactivity clusters are fairly spread across major consumption centres with three in Chennai two each in Delhi NCR Bengaluru and Pune and one each in Mumbai Kolkata Ahmedabad and HyderabadâThe 13 highactivity clusters account for nearly threefourths of the Grade A space uptake and new supply in India cumulatively witnessing close to 130 million sq ft of demand and supply each during the last five yearsâ said Vijay Ganesh Managing Director Industrial and Logistics Services Colliers IndiaâIn the coming years these highactivity clusters will continue to drive 7080 per cent of the overall demand and supply alongside gradual emergence of new hubs supported by ongoing structural changes in industrial and warehousing landscapeâ he notedThirdparty logistics 3PL followed by the engineering and ecommerce segments continue to drive demand in Indiaâs industrial and warehousing market together accounting for nearly twothirds of the Grade A space uptake in the last five years âGoing ahead we envisage a continued increase in institutionalgrade assets across these highactivity clusters alongside a growing investor focus on expanding into other emerging marketsâ said Vimal Nadar National Director and Head Research Colliers India IANS https://dailyworld.in/business/13-high-activity-clusters-to-dominate-70-80-pc-of-industrial-warehousing-activity-in-india-673794.html Thu, 14 May 2026 10:55:00 +0530 https://dailyworld.in/business/gold-silver-decline-up-to-2-pc-amid-profit-booking-673807.html Mumbai May 14 Gold and silver prices traded lower on Thursday with the precious metals declining up to nearly 2 per cent after the government raised import duty to 15 per cent On the Multi Commodity Exchange MCX gold futures June 5 fell 071 per cent or Rs 1159 to an intraday low of Rs 161027 as of 1030 amSimilarly silver futures July 3 declined 192 per cent or Rs 5788 to hit an intraday low of Rs 294450According to commodity market experts MCX gold continued to trade near the Rs 161500âRs 162000 range after witnessing a sharp breakout in the previous sessionAnalysts said immediate resistance for gold is placed around Rs 162000âRs 163000 and a sustained move above these levels could push prices towards Rs 164000âRs 165000 On the downside support is seen in the Rs 158000âRs 157000 zoneThey added that the nearterm outlook for gold remains cautiously positive supported by safehaven demand and ongoing geopolitical uncertaintiesMeanwhile MCX silver opened weak but continued to trade within the Rs 294000âRs 296000 support zone after a strong rally in recent sessionsAnalysts said resistance for silver is placed near Rs 3 lakhâRs 302 lakh while immediate support is seen around Rs 292 lakhâRs 290 lakh Despite heightened volatility the nearterm trend for silver remains bullish due to continued safehaven buyingOne of the reasons behind the sharper decline in silver compared to gold is believed to be profitbooking after silver prices crossed the Rs 3 lakh mark during Wednesdayâs trading sessionIn international markets gold and silver traded mixed On COMEX gold edged up 003 per cent to 4708 per ounce while silver declined 187 per cent to 8768 per ounce IANS https://dailyworld.in/business/gold-silver-decline-up-to-2-pc-amid-profit-booking-673807.html Thu, 14 May 2026 11:36:00 +0530 https://dailyworld.in/business/mgl-raises-cng-prices-by-rs-2-per-kg-across-mumbai-region-673818.html Mumbai May 14 Staterun gas distributor Mahanagar Gas Limited MGL has hiked compressed natural gas CNG prices across the Mumbai Metropolitan Region MMR raising retail rates by Rs 2 per kg Following the latest revision CNG will now cost Rs 84 per kg across Mumbai Thane Navi Mumbai and other parts of the MMR with immediate effectThe fuel was previously priced at Rs 82 per kg The latest hike comes amid rising input costs and prevailing market conditionsReports claim that soon after the increase in CNG prices autorickshaw unions demanded a revision in fares arguing that repeated fuel price hikes were adversely impacting driversâ earningsUnion representatives have sought at least a Re 1 increase in the base fare for autorickshaws and urged the authorities to take a decision at the earliestAccording to the unions the continued rise in operating costs has made it increasingly difficult for drivers to operate vehicles under the existing fare structureThe latest price revision is expected to impact daily commuters across the Mumbai Metropolitan Region where CNG remains one of the primary fuels used by autorickshaws taxis and public transport vehiclesEarlier this month the government said the country has adequate stocks of petroleum products and that LPG supplies for domestic cooking remain stableMeanwhile shares of Mahanagar Gas Limited traded nearly 3 per cent higher in morning trade on Thursday touching an intraday high of Rs 1072 on the BSE The stock has touched a 52week high of Rs 1586 and a 52week low of Rs 902 on the exchangeThe company reported a net profit of Rs 130 crore for the fourth quarter of FY26 while revenue stood at Rs 2052 crore IANS https://dailyworld.in/business/mgl-raises-cng-prices-by-rs-2-per-kg-across-mumbai-region-673818.html Thu, 14 May 2026 12:28:00 +0530 https://dailyworld.in/business/mahanagar-gas-limited-hikes-mumbai-cng-prices-by-2kg-673833.html Mumbai May 14 IANS Staterun gas distributor Mahanagar Gas Limited MGL has hiked compressed natural gas CNG prices across the Mumbai Metropolitan Region MMR raising retail rates by Rs 2 per kgnbspFollowing the latest revision CNG will now cost Rs 84 per kg across Mumbai Thane Navi Mumbai and other parts of the MMR with immediate effectThe fuel was previously priced at Rs 82 per kg The latest hike comes amid rising input costs and prevailing market conditionsReports claim that soon after the increase in CNG prices autorickshaw unions demanded a revision in fares arguing that repeated fuel price hikes were adversely impacting drivers earningsUnion representatives have sought at least a Re 1 increase in the base fare for autorickshaws and urged the authorities to take a decision at the earliestAccording to the unions the continued rise in operating costs has made it increasingly difficult for drivers to operate vehicles under the existing fare structureThe latest price revision is expected to impact daily commuters across the Mumbai Metropolitan Region where CNG remains one of the primary fuels used by autorickshaws taxis and public transport vehiclesEarlier this month the government said the country has adequate stocks of petroleum products and that LPG supplies for domestic cooking remain stableMeanwhile shares of Mahanagar Gas Limited traded nearly 3 per cent higher in morning trade on Thursday touching an intraday high of Rs 1072 on the BSE The stock has touched a 52week high of Rs 1586 and a 52week low of Rs 902 on the exchangeThe company reported a net profit of Rs 130 crore for the fourth quarter of FY26 while revenue stood at Rs 2052 croreIANS https://dailyworld.in/business/mahanagar-gas-limited-hikes-mumbai-cng-prices-by-2kg-673833.html Thu, 14 May 2026 13:13:00 +0530 https://dailyworld.in/business/india-bound-lpg-vessels-transit-strait-of-hormuz-amid-us-iran-tensions-reports-673836.html New Delhi May 14 IANS Two Indiabound vessels carrying cooking fuel from the Persian Gulf have successfully transited the Strait of Hormuz despite ongoing tensions involving the US and Iran according to reportsnbspThe liquefied petroleum gas LPG carrier Symi emerged in the Gulf of Oman on Thursday after temporarily switching off its transponder during transitAnother vessel NV Sunshine carrying LPG reportedly went dark shortly after crossing the strategic waterwayThe development has highlighted the gradual resumption of energy shipments through one of the worlds most critical maritime trade routesThe NV Sunshine loaded with LPG from the United Arab Emirates Ruwais refinery was last tracked heading towards Mangalore in IndiaMeanwhile Symi was transporting fuel cargo from Qatars Ras Laffan port to Kandla in GujaratEarlier this month US President Donald Trump said ceasefire efforts with Iran were on life support indicating that Tehrans response to a USbacked proposal to end the ongoing conflict showed both sides remained divided on several key issuesMoreover Trump had described Irans peace proposal as totally unacceptable signalling continued hurdles in diplomatic efforts to end the monthslong tensions in West AsiaIn a post on the social media platform Truth Social the US President said he had reviewed Irans response submitted through what he referred to as its representatives and expressed dissatisfaction with the proposalIran had reportedly conveyed its response to the latest US peace initiative through Pakistan which has been acting as a mediator between Tehran and WashingtonThe Strait of Hormuz remains one of the worlds most critical energy chokepoints handling a major share of global crude oil LNG and fuel shipments including supplies destined for IndiaIANS https://dailyworld.in/business/india-bound-lpg-vessels-transit-strait-of-hormuz-amid-us-iran-tensions-reports-673836.html Thu, 14 May 2026 13:34:00 +0530 https://dailyworld.in/business/sc-allows-ripl-board-meet-bars-director-and-bank-signatory-changes-in-rk-family-trust-case-673843.html New Delhi May 14 IANS The Supreme Court on Thursday refused to stall a proposed board meeting of Raghuvanshi Investment Private Limited RIPL in the highprofile RK Family Trust dispute involving Rani Kapur and Priya Sachdev Kapur but restrained the company from taking up agenda items relating to the appointment of independent directors and changes in authorised bank signatories during the meetingnbspnbspA Bench of Justices JB Pardiwala and Ujjal Bhuyan passed the direction while hearing a fresh plea moved by 80yearold Rani Kapur mother of late businessman Sunjay Kapur who had sought a stay on the board meeting scheduled for May 18nbspAt the outset the apex court observed that since the dispute had already been referred to mediation the parties should refrain from taking any steps which may directly impact the mediation proceedings We have already requested the mediator to start with the mediation proceedings For the present we request the opponents not to do anything which may directly affect mediation Time and again we have said it will be in the interest of all parties to put an end to this dispute else it will be a long drawn battle the Justice Pardiwalaled Bench observednbspAppearing on behalf of Rani Kapur senior advocate Navin Pahwa argued that the proposed board meeting was intended to ensure that she is completely drowned out from the affairs of the familycontrolled entitiesnbspReferring to the dispute over the family estate it was argued that Rani Kapurs majority shareholding in the group companies had allegedly been transferred into a trust without her consentnbspMy shareholding was transferred into the trust behind my back I was holding the majority shares in all the companies My daughterinlaw transferred my shareholding into a trust the senior counsel submitted on behalf of Rani KapurnbspOn the other hand senior advocate Kapil Sibal appearing for the respondents including Priya Sachdev Kapur and RIPL submitted that the appointment of independent directors was being undertaken pursuant to directions issued by the Reserve Bank of India RBI following an inspectionnbspSibal argued that the proposed board meeting was convened primarily to comply with statutory and regulatory obligations and not with an intention to alter the status quo during the mediation processnbspTaking note of the submissions the apex court clarified that while the board meeting itself may proceed agenda items concerning the appointment of independent directors and the change in authorised signatories for certain bank accounts need not be acted upon for nownbspIt repeatedly urged the parties to sincerely attempt an amicable settlement and cautioned against converting the family dispute into prolonged litigation She is an 80yearold woman We all came with empty hands and we have to go with empty hands All we carry is our souls There has to be a will to settle the matter Dont go before the mediator with a heavy heart just because the court has pushed you Each one of you try the Justice Pardiwalaled Bench observed during the hearingnbspThe latest plea arose from a notice dated May 8 issued by RIPL convening a board meeting on May 18 Rani Kapur had described the meeting as a fraudulent attempt to bypass courtordered mediation and sought directions restraining the company from proceeding with the meeting till the mediation proceedings concludenbspShe had also sought directions restraining Priya Sachdev Kapur and other respondents from interfering in the functioning of the alleged RK Family Trust during the pendency of the mediation proceedings The disputed agenda items included the appointment of two independent directors and changes in authorised signatories for certain bank accountsnbspEarlier on May 7 the Supreme Court had appointed former Chief Justice of India CJI DY Chandrachud as mediator to resolve the ongoing family dispute between Rani Kapur and Priya Sachdev Kapur over the alleged RK Family TrustnbspA Bench of Justices Pardiwala and Bhuyan had passed the order after all parties agreed to explore a settlement through mediationnbspObserving that the controversy was a family affair the apex court had requested the parties not to make public statements or social media posts concerning the dispute Its a family dispute let it be confined among the family only It should not be a source of entertainment the Justice Pardiwalaled Bench had orally remarkednbspThe apex court had said that it would await a preliminary report from the mediator before taking up the matter further and posted the case for hearing in AugustnbspThe dispute pertains to the creation and control of the alleged RK Family TrustRani Kapur Family Trust which has been challenged by Rani Kapur as fraudulent and illegalnbspAccording to the plea Rani Kapur is the sole beneficiary of the estate of her late husband industrialist Dr Surinder Kapur who allegedly bequeathed all movable and immovable properties to her through a will probated by the Bombay High Court in 2016nbspRani Kapur has alleged that despite this the family estate was clandestinely transferred into a newly created trust without her informed consent and that control over key group companies was assumed without her knowledge following the death of her son Sunjay KapurnbspIANS https://dailyworld.in/business/sc-allows-ripl-board-meet-bars-director-and-bank-signatory-changes-in-rk-family-trust-case-673843.html Thu, 14 May 2026 13:59:00 +0530 https://dailyworld.in/business/passenger-vehicle-sales-in-india-up-254-pc-to-437-312-units-in-april-siam-data-673848.html New Delhi May 14 Domestic passenger vehicle dispatches to dealers went up 254 per cent yearonyear to 437312 units in April while twowheeler sales stood at 1872691 units last month up 284 per cent according to data released by the Society of Indian Automobile Manufacturers SIAM on Thursday Threewheeler dispatches to dealers were up 328 per cent at 65668 units in AprilThe total production of passenger vehicles three wheelers two wheelers and Quadricycle in April were 2922427 unitsâContinuing with the momentum of the second half of FY 202526 the first month of FY 202627 posted high doubledigit growth in passenger vehicles Threewheelers and twowheelers In April 2026 the passenger vehicles recorded their highestever sales of 437 lakh units with a growth of 254 per cent over April 2025â said Rajesh Menon Director General SIAMThreewheelers also posted its highest ever sales of 066 lakh units registering a growth of 328 per cent compared to April 2025âAround 1873 lakh units of twowheelers were sold in April 2026 resulting in growth of 284 per cent compared to April of the previous year Though there are concerns of high commodity prices emanating from the disruptions in West Asia Industry has been witnessing good demandâ Menon addedIn March domestic passenger vehicle dispatches to dealers increased by 16 per cent yearonyear to 442460 units driven by improved demand and inventory buildup at dealershipsThe broader outlook for the passenger vehicle segment also remains positive though growth is expected to moderate going aheadMeanwhile the Federation of Automobile Dealers Associations FADA data showed earlier that the domestic auto retail industry opened FY27 on an exceptionally strong note retailing a record 2611317 units in April â a 1294 per cent growthTwowheeler 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 IANS https://dailyworld.in/business/passenger-vehicle-sales-in-india-up-254-pc-to-437-312-units-in-april-siam-data-673848.html Thu, 14 May 2026 14:09:00 +0530 https://dailyworld.in/business/sharp-rise-in-fuel-and-energy-related-prices-leads-to-higher-wpi-inflation-industry-673857.html New Delhi May 14 IANS The increase in wholesale inflation in April was largely driven by a sharp rise in energy and petroleumrelated prices which also contributed to higher input costs across several manufacturing segments industry chambers said on ThursdaynbspIn contrast foodrelated wholesale inflation remained relatively moderate compared with recent periods of raised volatility said Rajeev Juneja President PHDCCIIndias wholesale price inflation jumps to 83 per cent in April 2026 on a yearonyear basis compared with 388 per cent in March 2026The increase in wholesale inflation during April was primarily driven by a sharp rise in fuel and energyrelated prices particularly mineral oils and crude petroleum along with higher prices in basic metalsThe WPI Fuel and Power group recorded inflation of 2471 per cent in April up from 105 per cent in March Crude petroleum and natural gas inflation rose significantly to 6718 per cent while petrol and highspeed diesel inflation increased to 3240 per cent and 2519 per cent respectivelyGlobal Brent crude prices witnessed a high surge reflecting heightened geopolitical risk supply disruptions and tightening global energy markets Juneja addedPrimary Articles inflation increased to 917 per cent in April supported by higher prices of crude petroleum and natural gas food articles and mineralsManufactured Products inflation also strengthened to 462 per cent reflecting broadbased increases across several industrial groups including basic metals chemicals textiles machinery and food productsOn a monthonmonth basis the headline WPI increased by 386 per cent in April 2026 over March 2026 with Fuel and Power registering a substantial monthly increase of 1822 per centAmong manufactured products inflation in basic metals increased to 700 per cent textiles to 730 per cent and chemicals and chemical products to 509 per cent indicating rising cost pressures across industrial supply chainsThe provisional WPI index for All Commodities stood at 1670 in April 2026 compared with 1608 in March 2026 The final WPI inflation rate for February 2026 was revised to 226 per centGoing forward movements in global energy prices commodity markets and supply chain conditions will remain important determinants of wholesale price trends The evolving trajectory of fuel costs and transmission into manufacturing and transport sectors will continue to be monitored closely in the coming months said Dr Ranjeet Mehta SG and CEO PHDCCIIANS https://dailyworld.in/business/sharp-rise-in-fuel-and-energy-related-prices-leads-to-higher-wpi-inflation-industry-673857.html Thu, 14 May 2026 14:23:00 +0530 https://dailyworld.in/business/rk-family-trust-dispute-sc-allows-ripl-board-meeting-but-bars-discussion-on-directors-bank-signatories-673862.html New Delhi May 14 The Supreme Court on Thursday refused to stall a proposed board meeting of Raghuvanshi Investment Private Limited RIPL in the highprofile RK Family Trust dispute involving Rani Kapur and Priya Sachdev Kapur but restrained the company from taking up agenda items relating to the appointment of independent directors and changes in authorised bank signatories during the meeting A Bench of Justices JB Pardiwala and Ujjal Bhuyan passed the direction while hearing a fresh plea moved by 80yearold Rani Kapur mother of late businessman Sunjay Kapur who had sought a stay on the board meeting scheduled for May 18 At the outset the apex court observed that since the dispute had already been referred to mediation the parties should refrain from taking any steps which may directly impact the mediation proceedings âWe have already requested the mediator to start with the mediation proceedings For the present we request the opponents not to do anything which may directly affect mediation Time and again we have said it will be in the interest of all parties to put an end to this dispute else it will be a long drawn battleâ the Justice Pardiwalaled Bench observed Appearing on behalf of Rani Kapur senior advocate Navin Pahwa argued that the proposed board meeting was intended to ensure that she is âcompletely drowned outâ from the affairs of the familycontrolled entities Referring to the dispute over the family estate it was argued that Rani Kapurâs majority shareholding in the group companies had allegedly been transferred into a trust without her consent âMy shareholding was transferred into the trust behind my back I was holding the majority shares in all the companies My daughterinlaw transferred my shareholding into a trustâ the senior counsel submitted on behalf of Rani Kapur On the other hand senior advocate Kapil Sibal appearing for the respondents including Priya Sachdev Kapur and RIPL submitted that the appointment of independent directors was being undertaken pursuant to directions issued by the Reserve Bank of India RBI following an inspection Sibal argued that the proposed board meeting was convened primarily to comply with statutory and regulatory obligations and not with an intention to alter the status quo during the mediation process Taking note of the submissions the apex court clarified that while the board meeting itself may proceed agenda items concerning the appointment of independent directors and the change in authorised signatories for certain bank accounts need not be acted upon for now It repeatedly urged the parties to sincerely attempt an amicable settlement and cautioned against converting the family dispute into prolonged litigation âShe is an 80yearold woman We all came with empty hands and we have to go with empty hands All we carry is our souls There has to be a will to settle the matter Donât go before the mediator with a heavy heart just because the court has pushed you Each one of you tryâ the Justice Pardiwalaled Bench observed during the hearing The latest plea arose from a notice dated May 8 issued by RIPL convening a board meeting on May 18 Rani Kapur had described the meeting as a âfraudulent attempt to bypass courtordered mediationâ and sought directions restraining the company from proceeding with the meeting till the mediation proceedings conclude She had also sought directions restraining Priya Sachdev Kapur and other respondents from interfering in the functioning of the alleged RK Family Trust during the pendency of the mediation proceedings The disputed agenda items included the appointment of two independent directors and changes in authorised signatories for certain bank accounts Earlier on May 7 the Supreme Court had appointed former Chief Justice of India CJI DY Chandrachud as mediator to resolve the ongoing family dispute between Rani Kapur and Priya Sachdev Kapur over the alleged RK Family Trust A Bench of Justices Pardiwala and Bhuyan had passed the order after all parties agreed to explore a settlement through mediation Observing that the controversy was a âfamily affairâ the apex court had requested the parties not to make public statements or social media posts concerning the dispute âItâs a family dispute let it be confined among the family only It should not be a source of entertainmentâ the Justice Pardiwalaled Bench had orally remarked The apex court had said that it would await a preliminary report from the mediator before taking up the matter further and posted the case for hearing in August The dispute pertains to the creation and control of the alleged RK Family TrustRani Kapur Family Trust which has been challenged by Rani Kapur as fraudulent and illegal According to the plea Rani Kapur is the sole beneficiary of the estate of her late husband industrialist Dr Surinder Kapur who allegedly bequeathed all movable and immovable properties to her through a will probated by the Bombay High Court in 2016 Rani Kapur has alleged that despite this the family estate was clandestinely transferred into a newly created trust without her informed consent and that control over key group companies was assumed without her knowledge following the death of her son Sunjay Kapur IANS https://dailyworld.in/business/rk-family-trust-dispute-sc-allows-ripl-board-meeting-but-bars-discussion-on-directors-bank-signatories-673862.html Thu, 14 May 2026 14:51:00 +0530 https://dailyworld.in/business/electric-bus-penetration-in-india-to-rise-from-7-pc-to-3540-pc-of-annual-bus-sales-by-fy35-673864.html New Delhi May 14 The electric bus penetration in India is expected to rise from around 7 per cent currently to 35â40 per cent of annual bus sales by FY35 with public transport EV penetration projected to exceed 85 per cent over the same period a new report showed on Thursday Indiaâs bus market historically stable at 35000â50000 units annually is entering a new phase of transition as electrification government procurement programmes and infrastructure investments reshape the sectorâs growth trajectoryWith buses accounting for nearly 57 per cent of passengerkilometres travelled in India electrification of the segment is expected to play a key role in the countryâs clean mobility and decarbonization ambitions according to the KPMG in India reportâIndiaâs electric bus transition is moving beyond a policyled initiative to becoming a structural transformation opportunity for the broader mobility ecosystem Public transport electrification has already created strong momentum supported by government procurement programmes improving cost economics and increasing infrastructure investmentsâ said Rohan Rao Partner Automotive and Lead Electric Mobility KPMG IndiaGoing forward the focus will increasingly shift towards building a scalable ecosystem that combines domestic manufacturing financing innovation charging infrastructure expansion and operational efficiency to support sustainable longterm growth across both public and private transport segments he mentionedAmid rising urbanisation increasing mobility demand sustainability commitments and governmentled clean mobility initiatives the report indicates that Indiaâs bus industry is entering a significant phase of structural transformation This is supported by accelerating electric vehicle EV adoption infrastructure development and evolving operating models across public and private transport networksIndiaâs ebus ecosystem is entering a critical phase where scale localization and execution capabilities will become key differentiators While public transport undertakings continue to lead adoption the next phase of growth is expected to emerge from private intercity mobility airport transport platformbased mobility solutions and corporate fleets explained Raghavan Viswanathan Partner Deal Advisory KPMG in India According to the report electric buses can deliver up to 70 per cent higher energy efficiency and significantly lower lifetime emissions compared to diesel buses PMeBus Sewa tenders for around 6600 buses could potentially save 12 million tonnes of carbon dioxide and 2â3 billion in oil imports over the concession periodNearly 62000 ebus tenders have been issued in India with approximately 46000 buses awarded under various government schemes Around 16300 electric buses were operational on Indian roads as of March 2026 reflecting both strong momentum and continuing deployment challenges said the reportMore than 90 per cent of Indiaâs current ebus deployments have been driven by governmentled tenders and public transport undertakings India is expected to tender nearly 40000 additional electric buses by FY30 through central and stateled initiatives it added IANS https://dailyworld.in/business/electric-bus-penetration-in-india-to-rise-from-7-pc-to-3540-pc-of-annual-bus-sales-by-fy35-673864.html Thu, 14 May 2026 14:56:00 +0530 https://dailyworld.in/business/passenger-vehicle-dispatches-in-india-up-254-pc-to-437-312-units-in-april-siam-data-673868.html New Delhi May 14 IANS Domestic passenger vehicle dispatches to dealers went up 254 per cent yearonyear to 437312 units in April while twowheeler sales stood at 1872691 units last month up 284 per cent according to data released by the Society of Indian Automobile Manufacturers SIAM on ThursdaynbspThreewheeler dispatches to dealers were up 328 per cent at 65668 units in AprilThe total production of passenger vehicles three wheelers two wheelers and Quadricycle in April were 2922427 unitsContinuing with the momentum of the second half of FY 202526 the first month of FY 202627 posted high doubledigit growth in passenger vehicles Threewheelers and twowheelers In April 2026 the passenger vehicles recorded their highestever sales of 437 lakh units with a growth of 254 per cent over April 2025 said Rajesh Menon Director General SIAMThreewheelers also posted its highest ever sales of 066 lakh units registering a growth of 328 per cent compared to April 2025Around 1873 lakh units of twowheelers were sold in April 2026 resulting in growth of 284 per cent compared to April of the previous year Though there are concerns of high commodity prices emanating from the disruptions in West Asia Industry has been witnessing good demand Menon addedIn March domestic passenger vehicle dispatches to dealers increased by 16 per cent yearonyear to 442460 units driven by improved demand and inventory buildup at dealershipsThe broader outlook for the passenger vehicle segment also remains positive though growth is expected to moderate going aheadMeanwhile the Federation of Automobile Dealers Associations FADA data showed earlier that the domestic auto retail industry opened FY27 on an exceptionally strong note retailing a record 2611317 units in April a 1294 per cent growthTwowheeler 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 centIANS https://dailyworld.in/business/passenger-vehicle-dispatches-in-india-up-254-pc-to-437-312-units-in-april-siam-data-673868.html Thu, 14 May 2026 15:32:00 +0530 https://dailyworld.in/business/adani-airport-holdings-ihg-hotels-amp-resorts-sign-5-hotel-deal-to-boost-indias-travel-economic-growth-673872.html Mumbai May 14 In a significant boost to Indias travel and economic growth Adani Airport Holdings Limited AAHL and IHG Hotels amp Resorts have signed a landmark managed hotel portfolio agreement to develop five hotels across key airportlinked and highgrowth urban destinations The agreement will add close to 1500 keys across multiple brands and locations in line with IHGâs growth plans for India and aligning with rising travel demand and the rapid expansion of Indiaâs aviation tourism and airportled urban infrastructure sectorsâAs the Adani Group expands its presence across hospitality and airportled urban infrastructure our vision is to create worldclass destinations that seamlessly integrate travel stay and urban experiences around Indiaâs rapidly growing aviation ecosystem We are building this platform in partnership with leading international hotel brands that bring global standards operational excellence and scaleâ said Pranav Adani Director Adani Enterprises Limited AELâOur collaboration with IHG Hotels amp Resorts and the development of five hotels across key gateway destinations marks an important step in strengthening highquality hospitality infrastructure aligned with Indiaâs longterm travel and economic growthâ Pranav Adani maintainedThe portfolio includes a Kimpton hotel in Jaipur as well as Holiday Inn and Holiday Inn Express hotels within upcoming hospitalityled mixeduse developments as part of the Adani Airport cities These hotels are planned across Navi Mumbai Mangaluru and ThiruvananthapuramIndiaâs largest private airport operator is also in advanced discussions with IHG to further deepen and expand this partnershipThe partnership also marks the debut of Kimpton Hotels amp Restaurants in India Known globally for its designled hotels chefdriven dining experiences and boutique luxury positioning Kimptonâs entry reflects the growing demand for premium lifestyle hospitality experiences in IndiaâThe partnership with Adani Airport Holdings reflects the scale of opportunity we continue to see in Indiaâs hospitality sector particularly across gateway cities and airportled developments that are witnessing strong demand from business leisure and transit travellers alikeâ said Sudeep Jain Managing Director South West Asia IHG Hotels amp ResortsAdani Airport City is focused on the development of integrated hospitalityled airport city destinations across India Managing eight airports that serve nearly 90 million passengers annually Adani Airport Holdings Limiteds network is being developed as integrated airport cities that blend aviation with retail hospitality and convention centresSpanning over 650 acres across key cities including Mumbai Navi Mumbai Ahmedabad Lucknow Jaipur and Guwahati Adani Airport City Limitedâs first phase will deliver 22 million sq ft of mixeduse developments comprising branded hotels experiential retail worldclass dining convention centres Grade A office spaces entertainment zones and arena districts IANS https://dailyworld.in/business/adani-airport-holdings-ihg-hotels-amp-resorts-sign-5-hotel-deal-to-boost-indias-travel-economic-growth-673872.html Thu, 14 May 2026 15:44:00 +0530 https://dailyworld.in/business/sunil-mittal-plans-to-hand-over-airtel-reins-to-next-generation-in-next-10-years-673879.html New Delhi May 14 Airtel Chairman and Managing Director Sunil Bharti Mittal on Thursday said that he plans to hand over the reins of the telecom major to the next generation in the next ten years I wish to hand over the reins to the next generation in the next 10 years Mittal said in the companys concallMittal was reappointed as Chairman of Bharti Airtel for another fiveyear term on Wednesday with effect from October 1 2026 The companys board also approved the reappointment of Nisaba Godrej as an Independent Director for a second term of five years effective August 4 this yearThe Airtel CMD said that he was not happy with the Q4 financial results of Airtel and would be working to step up the Average Revenue Per User ARPU of the telecom majorAirtels mobile services segment in India contributed 28831 crore to the total revenue in Q4 FY2026 with growth of 83 per cent during the JanMarch quarter The growth came on the back of a rising customer base along with about 5 per cent growth in ARPU to Rs 257 from Rs 245 earlier the company has stated in a regulatory filingBharti Airtel posted a 335 per cent decline in consolidated net profit to Rs 7325 crore for the March 2026 quarter mainly due to onetime provisions related to statutory and tax liabilitiesThe companys annual revenue crossed Rs 2 lakh crore for the first timeAirtelâs consolidated revenue from operations rose 156 per cent to Rs 553832 crore in Q4 FY26 from Rs 478762 crore annually driven by a 40 per cent jump in the Africa businessShares of Bharti Airtel rose over 3 per cent on Thursday a day after the company announced its JanuaryMarch quarter results Despite reporting a lowerthanexpected net profit in the March quarter owing to a onetime charge investors remain largely upbeat on the stock on the back of the companys strong fundamentals In March 2026 the company crossed a milestone of 65 crore customers as part of its expanding business IANS https://dailyworld.in/business/sunil-mittal-plans-to-hand-over-airtel-reins-to-next-generation-in-next-10-years-673879.html Thu, 14 May 2026 15:50:00 +0530 https://dailyworld.in/business/tesla-opens-first-experience-centre-in-bengaluru-showcases-model-y-lineup-673894.html New Delhi May 14 Elon Muskbacked Tesla on Thursday opened its first experience centre in Bengaluruâs Whitefield area a major step in the electric vehicle makerâs expansion plans in India The company said customers will now be able to experience the Model Y and the newly introduced Model Y L priced starting at Rs 6199 lakh exshowroom at the new facility located in the cityâs technology hubTesla also announced the launch of its aftersales service network in Whitefield to strengthen ownership support for customers in Bengaluru amid rising interest in electric mobility in the countryAccording to the company the Model Y L a sixseater electric SUV offers a driving range of up to 681 km WLTP and can accelerate from 0 to 100 kmph in around five secondsThe electric SUV offers cargo space of up to 2539 litres and features a threerow seating layout aimed at family users seeking larger interior space and comfortMoreover Tesla said that both the Model Y and Model Y L have received top safety ratings from multiple global safety agencies including NHTSA and IIHS in the US Euro NCAP in Europe and ANCAP in Australia and New ZealandThe company added that with Tesla Supercharging the Model Y L can gain up to 288 km of range in just 15 minutes of chargingIt further said home charging support will also be available in India to improve convenience for EV usersThe company has also started accepting orders for the Model Y L through its official websiteApart from Bengaluru Tesla currently operates experience centres in Mumbaiâs BKC Delhi Aerocity and Gurugram IANS https://dailyworld.in/business/tesla-opens-first-experience-centre-in-bengaluru-showcases-model-y-lineup-673894.html Thu, 14 May 2026 16:45:00 +0530 https://dailyworld.in/business/india-included-in-revised-eu-draft-list-for-continued-aquaculture-product-exports-673896.html New Delhi May 14 The government on Thursday said India has been included in the revised draft list published by the European Union for continued export of aquaculture products to the EU market Indiaâs proposed inclusion is a major positive development for the countryâs seafood export sector and reflects the European Unionâs confidence in Indiaâs regulatory systems residue monitoring mechanisms and food safety standards âOnce formally adopted by the European Commission the revised regulation is expected to ensure uninterrupted export of Indian aquaculture products to the EU market beyond September 2026â said Commerce Ministry in a statementThe revied draft addresses concerns arising from the earlier omission in Implementing Regulation EU issued on October 4 2024 The earlier regulation had not included India among third countries authorised to export products of animal origin intended for human consumption to the EU from September 2026The European Union is one of the key destinations for Indian seafood exports During 2025â26 the EU emerged as the thirdlargest market for Indian seafood exports accounting for 1894 per cent of total export value worth 1593 billion Exports to the EU recorded significant growth over 2024â25 with export value rising by 4145 per cent and quantity by 3829 per cent Farmed shrimp continued to constitute the major share of exports to the regionThe development also recognises sustained efforts undertaken by the Department of Commerce through organisations such as the Marine Products Export Development Authority MPEDA and the Export Inspection Council EIC to strengthen regulatory compliance and promote responsible aquaculture practicesAccording to the statement India has consistently enhanced its systems relating to veterinary medicinal products antimicrobial residues traceability and quality assurance in aquaculture production and seafood processing The proposed inclusion is viewed as a positive outcome of continued technical engagement and regulatory cooperation between India and the European Union and is expected to support export growth employment generation and foreign exchange earnings from the seafood sector IANS https://dailyworld.in/business/india-included-in-revised-eu-draft-list-for-continued-aquaculture-product-exports-673896.html Thu, 14 May 2026 16:47:00 +0530 https://dailyworld.in/business/sensex-nifty-end-1-pc-higher-on-hopes-of-policy-support-673906.html Mumbai May 14 Indian equity markets ended in the green for a second consecutive session on Thursday with benchmark indices surging over 1 per cent each amid buying in pharmaceuticals healthcare metal and banking stocks and expectations of policy measures to address currency volatility Sensex closed at 7539872 rising 78974 points or 106 per cent while ifty settled 277 points or 118 per cent higher at 2368960 During intraday trade the benchmarks jumped as much as 143 per cent or 1073 points to 7568188 and 155 per cent or 364 points to 2377720 respectivelyAt the dayâs low the 30share index touched 7452677 down 011 per cent or 82 points from the previous close while the Nifty hit 2342655 up 005 per cent or 14 pointsSectorwise Nifty Pharma was the top gainer rising 274 per cent followed by the Nifty Healthcare Index which advanced 256 per cent The Nifty Metal index also climbed 204 per centBanking counters also moved higher with the Nifty PSU Bank index rising 137 per cent and the Nifty Private Bank index gaining 116 per centOn the other hand Nifty IT was the top sectoral laggard declining 2 per cent amid selling pressure in technology stocks Key IT counters including HCL Tech Infosys Tata Consultancy Services TCS and Tech Mahindra witnessed losses during the sessionAccording to market experts domestic stock markets staged a recovery from intraday lows and ended higher despite weakness in the rupee and elevated crude oil pricesThey added that investor sentiment was supported by expectations of possible policy measures to address currency volatility including steps such as easing tax treatment on bonds for foreign investors and tightening of the Liberalised Remittance Scheme to curb capital outflowsExperts further noted that sentiment was also aided by global cues including optimism following the TrumpâXi meeting which raised hopes of improved economic cooperationOn the sectoral front they said buying interest in pharma and healthcare was driven by rotation into defensive pockets while metals gained support from firm global prices and improving demand outlook from ChinaHowever IT stocks remained under pressure and extended losses during the session they addedIn addition rupee traded highly volatile as the currency initially weakened towards 9595 but later recovered sharply towards 9560 following reports of a proposal to reduce taxes for foreign investors in an attempt to support capital inflows and stabilise the rupee IANS https://dailyworld.in/business/sensex-nifty-end-1-pc-higher-on-hopes-of-policy-support-673906.html Thu, 14 May 2026 17:44:00 +0530 https://dailyworld.in/business/searches-at-7-locations-in-mumbai-gurugram-bengaluru-in-reliance-ada-group-cases-cbi-673915.html New Delhi May 14 The Central Bureau of Investigation CBI on Thursday said it has conducted searches at seven premises in connection with a case registered against Reliance Communications Ltd one of the Reliance ADA Group companies These premises were spread across Mumbai Gurugram and Bengaluru the Bureau said in a statementâThe searches were conducted at the residential premises of the then CEO CFO and Directors of the company who served during the period 2015â2017 The searches were conducted on the strength of Search Warrants dated 14052026 issued by the Special Judge for CBI Cases Mumbai The searches resulted in seizure of incriminating documents and further investigation is continuingâ said the CBIThe CBI during the last few months has registered seven cases against the Anil Ambaniled Reliance Group on the complaints lodged by various Public Sector Banks PSBs and LIC in connection with alleged frauds involving thousands of crores of rupeesThe total quantum of alleged loss in these cases is Rs 27337 croreCBI earlier conducted searches at 31 locations in the last few months after registration of these casesTwo senior executives of RCom D Vishwanath Joint President of Reliance Communications who was overall incharge of banking operations of the Group and Anil Kalya Vice President who had actively supported D Vishwanath in managing banking operations and paymentsutilisation of funds were arrested on April 20Both the accused persons are presently in judicial custody The investigation into the cases relating to the Anil Ambaniled Reliance Group is being monitored by the Supreme Court said the CBILast Saturday the CBI conducted searches at 17 premises in Mumbai in connection with three cases registered against Anil Ambaniled Reliance ADA Group companies Reliance Telecom Ltd Reliance Commercial Finance Ltd Reliance Home Finance Ltd and their Directors IANS https://dailyworld.in/business/searches-at-7-locations-in-mumbai-gurugram-bengaluru-in-reliance-ada-group-cases-cbi-673915.html Thu, 14 May 2026 18:50:00 +0530 https://dailyworld.in/business/eu-global-gateway-seen-as-alternative-to-chinas-bri-report-673917.html New Delhi May 14 The European Unionâs Global Gateway initiative is increasingly being seen as an alternative to Chinaâs Belt and Road Initiative BRI positioning itself as a more transparent and sustainabilityfocused model of global infrastructure financing a report has said The report by Kenyabased platform Capital News showed that the BRI launched by China over a decade ago as a flagship connectivity and infrastructure strategy across Asia Africa Europe and Latin America has expanded Beijingâs global footprint through largescale financing of railways highways ports and energy projectsHowever the initiative has come under growing scrutiny in recent years over concerns related to debt sustainability transparency in contracts and longterm financial stress on several developing economies that have undertaken Chinesefunded projects it saidIn contrast the EU launched the Global Gateway initiative in 2021 with an investment target of â300 billion for the period 2021â2027 The report highlighted that the programme aims to promote infrastructure development across digital connectivity clean energy transport health education and climaterelated projectsUnlike the centrally driven financing approach often associated with the BRI Global Gateway focuses on blending grants concessional financing and private investment with an emphasis on transparency sustainability and partnershipdriven developmentThe EU has outlined principles such as good governance democratic values environmental sustainability and private sector participation as key pillars of the initiativeIn addition major flagship projects under Global Gateway include the Lobito Corridor in Africa which aims to improve transport connectivity between Angola the Democratic Republic of Congo and Zambia reducing cargo transit times significantly and boosting regional trade integration the report saidThe report noted that the initiative has also expanded into Central Asia through transport and logistics corridors aimed at strengthening trade connectivity with Europe IANS https://dailyworld.in/business/eu-global-gateway-seen-as-alternative-to-chinas-bri-report-673917.html Thu, 14 May 2026 18:56:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-higher-amid-buying-in-pharma-banks-673787.html Mumbai May 14 Domestic equity markets traded higher on Thursday despite elevated oil prices and geopolitical tensions with benchmark indices rising up to 07 per cent amid buying in pharma and banking shares in early trade Sensex rose as much as 462 points or 061 per cent to touch an intraday high of 75071 in morning trade while Nifty traded around 170 points or 072 per cent higher at 23581Sectorwise buying interest was seen in pharma and healthcare metals chemicals banking energy cement and FMCG stocks with respective indices gaining over 1 per centOn the other hand Nifty IT emerged among the top laggards amid selling pressure in HCLTech Infosys Tata Consultancy Services TCS and Tech Mahindra which declined up to 1 per centThe volatility tracker India VIX rose more than 3 per cent to nearly 19A market expert said money is moving into markets such as the US Japan South Korea and Taiwan which are performing stronglyâAs long as the outperformance of these markets and the underperformance of India continue foreign portfolio investors FPIs will continue to sell which in turn will further drag the rupee downâ the expert saidâThe situation will change only if the Strait of Hormuz opens and crude oil prices fall or if the AI trade attracting FPI flows into AI leaders ends There is no clarity on when this will happenâ the expert addedThe analyst further said sustained depreciation of the rupee has negative implications for the marketâImported inflation will rise Margins of companies with petroleumbased inputs will be impacted while exporters will benefit Pharmaceuticals will remain a safe bet since demand for medicines is relatively inelastic and the sector will benefit from rupee depreciation Textiles will also gain IT though a potential beneficiary will continue to remain under pressure due to the Anthropic shockâ the analyst notedOn the commodities front international benchmark Brent crude rose 052 per cent to 10618 per barrel while US West Texas Intermediate WTI crude gained 071 per cent to 10174In Asia markets showed a mixed trend Japanâs Nikkei traded flat while Hong Kongâs Hang Seng and South Koreaâs KOSPI edged higher Indonesiaâs Jakarta Composite and Chinaâs Shanghai Composite declined up to 2 per centOvernight in the US Wall Street ended higher with the SampP 500 gaining 059 per cent and the Nasdaq closing 12 per cent higher IANS https://dailyworld.in/business/sensex-nifty-trade-higher-amid-buying-in-pharma-banks-673787.html Thu, 14 May 2026 10:18:00 +0530 https://dailyworld.in/business/sensex-nifty-trade-higher-amid-buying-in-pharma-banking-stocks-673788.html Mumbai May 14 Domestic equity markets traded higher on Thursday despite elevated oil prices and geopolitical tensions with benchmark indices rising up to 07 per cent amid buying in pharma and banking shares in early trade Sensex rose as much as 462 points or 061 per cent to touch an intraday high of 75071 in morning trade while Nifty traded around 170 points or 072 per cent higher at 23581Sectorwise buying interest was seen in pharma and healthcare metals chemicals banking energy cement and FMCG stocks with respective indices gaining over 1 per centOn the other hand Nifty IT emerged among the top laggards amid selling pressure in HCLTech Infosys Tata Consultancy Services TCS and Tech Mahindra which declined up to 1 per centThe volatility tracker India VIX rose more than 3 per cent to nearly 19A market expert said money is moving into markets such as the US Japan South Korea and Taiwan which are performing stronglyâAs long as the outperformance of these markets and the underperformance of India continue foreign portfolio investors FPIs will continue to sell which in turn will further drag the rupee downâ the expert saidâThe situation will change only if the Strait of Hormuz opens and crude oil prices fall or if the AI trade attracting FPI flows into AI leaders ends There is no clarity on when this will happenâ the expert addedThe analyst further said sustained depreciation of the rupee has negative implications for the marketâImported inflation will rise Margins of companies with petroleumbased inputs will be impacted while exporters will benefit Pharmaceuticals will remain a safe bet since demand for medicines is relatively inelastic and the sector will benefit from rupee depreciation Textiles will also gain IT though a potential beneficiary will continue to remain under pressure due to the Anthropic shockâ the analyst notedOn the commodities front international benchmark Brent crude rose 052 per cent to 10618 per barrel while US West Texas Intermediate WTI crude gained 071 per cent to 10174In Asia markets showed a mixed trend Japanâs Nikkei traded flat while Hong Kongâs Hang Seng and South Koreaâs KOSPI edged higher Indonesiaâs Jakarta Composite and Chinaâs Shanghai Composite declined up to 2 per centOvernight in the US Wall Street ended higher with the SampP 500 gaining 059 per cent and the Nasdaq closing 12 per cent higher IANS https://dailyworld.in/business/sensex-nifty-trade-higher-amid-buying-in-pharma-banking-stocks-673788.html Thu, 14 May 2026 10:19:00 +0530 https://dailyworld.in/business/govt-hikes-gold-silver-import-duty-to-15-pc-to-ease-forex-pressure-673633.html New Delhi May 13 The government on Wednesday announced a hike in customs duties on gold and silver to 15 per cent from 6 per cent as policymakers move to contain pressure on Indiaâs foreign exchange reserves and the external account amid the ongoing West Asia conflict Moreover the revised duty on platinum imports has been raised to 154 per cent from 64 per centAccording to official changes the revised structure imposes a 10 per cent basic customs duty along with a 5 per cent Agriculture Infrastructure and Development Cess AIDC on gold and silver imports taking the effective import tax to 15 per centThe move comes as Indiaâs import bill remains elevated with precious metals among the key contributors to higher foreign exchange outflowsThe duty hike is expected to discourage inbound shipments and support macroeconomic stabilityEarlier in the month Prime Minister Narendra Modi urged citizens to avoid nonessential gold purchases for a year and adopt austerity measures to conserve foreign exchange reserves amid global uncertainty linked to the West Asia crisisIndia is among the worldâs largest consumers of gold with demand driven largely by jewellery investment and festivalrelated purchasesMeanwhile inflows into gold exchangetraded funds ETFs surged in April reflecting continued investor interest in the yellow metal despite higher import costsAccording to data from the Association of Mutual Funds in India AMFI gold ETF inflows jumped 34 per cent monthonmonth to Rs 3040 crore in April compared with Rs 2265 crore in MarchHowever silver ETFs continued to witness sustained outflows marking the third consecutive month of withdrawalsAMFI data showed silver ETFs recorded an outflow of Rs 126 crore in April following outflows of Rs 683 crore in March and Rs 826 crore in February IANS https://dailyworld.in/business/govt-hikes-gold-silver-import-duty-to-15-pc-to-ease-forex-pressure-673633.html Wed, 13 May 2026 09:42:00 +0530 https://dailyworld.in/business/india-stock-markets-open-flat-amid-mixed-global-cues-lower-oil-prices-673647.html Mumbai May 13 Domestic equity markets opened flat on Wednesday amid mixed global cues and a decline in oil prices Sensex was trading at 74567 up 8 points or 001 per cent while the Nifty was at 23387 gaining 8 points or 003 per cent Earlier in the day the benchmark indices opened at 7443934 and 2336245 respectivelyAmong sectoral indices Nifty IT and Nifty Media were the top losers while Nifty Metal Nifty FMCG and Nifty Chemicals emerged as the top gainersEicher Motors Power Grid NTPC Infosys Dr Reddyâs Laboratories Axis Bank and Bajaj Finance were among the top laggards in the Nifty packCategorywise microcap and smallcap stocks were the top gainers Meanwhile the volatility index India VIX declined 082 per cent to 1912Market experts said investor sentiment remained cautious amid concerns over the prolonged West Asia crisis and pressure on Indiaâs macroeconomic indicatorsAnalysts added that foreign institutional investors FIIs may continue to remain sellers in the market while investors are likely to prefer defensive sectors such as pharmaceuticals amid prevailing uncertaintyThey also advised longterm investors to gradually accumulate quality banking stocks on market declinesIn commodities international oil benchmark Brent crude declined 131 per cent to 10635 per barrel while US West Texas Intermediate WTI crude fell 137 per cent to 100 per barrelIn Asian markets Japanâs Nikkei was trading 05 per cent higher at 63085 while Hong Kongâs Hang Seng rose 032 per cent to 26432 South Koreaâs KOSPI was trading nearly 2 per cent higher at 779481In the US Wall Street witnessed a negative performance overnight with the SampP 500 closing 016 per cent lower at 740096 while the Nasdaq settled 071 per cent down at 2608820 IANS https://dailyworld.in/business/india-stock-markets-open-flat-amid-mixed-global-cues-lower-oil-prices-673647.html Wed, 13 May 2026 10:12:00 +0530 https://dailyworld.in/business/gold-silver-prices-surge-up-to-8-pc-after-import-duty-hike-673659.html Mumbai May 13 Gold and silver prices on Wednesday witnessed a sharp surge of up to 8 per cent after the government more than doubled the import duty on precious metals On the Multi Commodity Exchange MCX gold futures June 5 advanced as much as 720 per cent or Rs 11055 to touch an intraday high of Rs 164497 per 10 grams as of 950 amThe yellow metal was trading at Rs 162728 up 6 per cent or Rs 9286 from the previous close Earlier in the session it had opened at Rs 154851 rising 091 per cent or Rs 1409 which also remained the intraday low so farMeanwhile silver futures July 3 also recorded strong gains during the session jumping as much as 8 per cent or Rs 22367 to hit an intraday high of Rs 301429 per kgThe white metal was trading at Rs 297655 up 666 per cent or Rs 18593 from the previous close It had opened at Rs 290224 rising 4 per cent or Rs 11162 over the previous settlement priceThe rally in precious metals came after the Centreâs decision to increase customs duties on importsThe government has raised the import duty including cess on gold and silver from 6 per cent to 15 per centMeanwhile import duty on platinum has been increased from 64 per cent to 154 per centThrough this move the government aims to reduce the current account deficit and conserve foreign exchange reserves amid ongoing global uncertaintyAccording to government sources the increase in import duty on precious metals is part of a broader strategy aimed at conserving foreign exchange safeguarding the current account prioritising essential imports and strengthening Indiaâs economic resilience amid global uncertaintiesIn the international market COMEX gold rose 052 per cent to 4710 per ounce while COMEX silver gained 228 per cent to trade at 8754 per ounce IANS https://dailyworld.in/business/gold-silver-prices-surge-up-to-8-pc-after-import-duty-hike-673659.html Wed, 13 May 2026 11:05:00 +0530 https://dailyworld.in/business/indian-stock-markets-open-flat-amid-mixed-global-cues-lower-oil-prices-673661.html Mumbai May 13 Domestic equity markets opened flat on Wednesday amid mixed global cues and a decline in oil prices Sensex was trading at 74567 up 8 points or 001 per cent while the Nifty was at 23387 gaining 8 points or 003 per cent Earlier in the day the benchmark indices opened at 7443934 and 2336245 respectivelyAmong sectoral indices Nifty IT and Nifty Media were the top losers while Nifty Metal Nifty FMCG and Nifty Chemicals emerged as the top gainersEicher Motors Power Grid NTPC Infosys Dr Reddyâs Laboratories Axis Bank and Bajaj Finance were among the top laggards in the Nifty packCategorywise microcap and smallcap stocks were the top gainers Meanwhile the volatility index India VIX declined 082 per cent to 1912Market experts said investor sentiment remained cautious amid concerns over the prolonged West Asia crisis and pressure on Indiaâs macroeconomic indicatorsAnalysts added that foreign institutional investors FIIs may continue to remain sellers in the market while investors are likely to prefer defensive sectors such as pharmaceuticals amid prevailing uncertaintyThey also advised longterm investors to gradually accumulate quality banking stocks on market declinesIn commodities international oil benchmark Brent crude declined 131 per cent to 10635 per barrel while US West Texas Intermediate WTI crude fell 137 per cent to 100 per barrelIn Asian markets Japanâs Nikkei was trading 05 per cent higher at 63085 while Hong Kongâs Hang Seng rose 032 per cent to 26432 South Koreaâs KOSPI was trading nearly 2 per cent higher at 779481In the US Wall Street witnessed a negative performance overnight with the SampP 500 closing 016 per cent lower at 740096 while the Nasdaq settled 071 per cent down at 2608820 IANS https://dailyworld.in/business/indian-stock-markets-open-flat-amid-mixed-global-cues-lower-oil-prices-673661.html Wed, 13 May 2026 11:08:00 +0530 https://dailyworld.in/business/oil-shock-air-india-to-suspend-several-international-flights-for-3-months-from-june-673680.html New Delhi May 13 IANS Air India has decided to suspend several international flights for three months beginning June amid surging jet fuel prices due to the Middle East crisis said reportsnbspMultiple reports said that the reduction in international flights from Delhi include key destinations like Chicago and Newark in the US Singapore and ShanghaiMoreover Air India flights to destinations like San Francisco Paris and Toronto have been cutnbspOverall the airline has reduced around 100 daily flights said reportsAir India CEO Campbell Wilson last week said that the airline would continue reducing international services amid higher fuel prices amid geopolitical tensionsFacing rising financial pressure and operational challenges Air India has intensified its internal compliance and costcontrol measures with the airline terminating more than 1000 employees over the last three years for ethical misconduct and policy violationsThe disclosure was made by Wilson during a town hall meeting with employees last weekWilson reportedly told staff that the airline had taken action against employees involved in multiple violations including misuse of the Employee Leisure Travel ELT system smuggling items off aircraft and allowing excess baggage without proper chargesThe airlines stricter enforcement comes at a time when it is battling significant financial stressThe Air India Group comprising Air India and Air India Express is projected to have posted losses of more than Rs 22000 crore in the financial year ended March 2026As part of its broader restructuring and turnaround efforts under the Tata Group the airline has already initiated several costsaving measuresThese include withholding annual salary increments for employees reducing discretionary spending and cutting noncritical expenditure across departmentsThe TataGroup airline implementing these measures as government data also showed that Air India Express reported a significant jump in losses during the FY25IANS https://dailyworld.in/business/oil-shock-air-india-to-suspend-several-international-flights-for-3-months-from-june-673680.html Wed, 13 May 2026 12:19:00 +0530 https://dailyworld.in/business/piyush-goyal-highlights-export-push-fta-progress-and-global-investment-talks-673689.html New Delhi May 13 IANS Union Minister of Commerce and Industry Piyush Goyal on Wednesday highlighted major achievements of the government in the past 10 days such as export promotion initiatives progress in free trade agreement FTA negotiations and discussions with global companies to strengthen manufacturing investments in IndianbspIn a post on X the minister stated that Assams One District One Product ODOP honey was exported to the US for the first time while India and Canada successfully concluded the second round of negotiations for the proposed Comprehensive Economic Partnership Agreement CEPAHe highlighted that the government engaged with global industry leaders from Airbus LOréal Groupe Carrier and LVMH to deepen investments and strengthen manufacturing in IndiaAccording to the minister the government also held key meetings to review the progress of Indias FTAs export promotion strategies and sanitary and phytosanitary SPS approvals aimed at improving global market access for Indian agriculture and fisheries productsEarlier in the month the Commerce Ministry had announced the firstever export of 20 metric tonnes of honey from Assams Baksa district to the US under the ODOP initiative with support from the Agricultural and Processed Food Products Export Development Authority APEDAAccording to the government the initiative expected to improve income opportunities for local beekeepers and farmers while promoting valueadded agricultural exports from Aspirational DistrictsMoreover India and Canada recently concluded the second round of CEPA negotiations held here covering discussions on trade in goods and services intellectual property rights rules of origin and sanitary and phytosanitary measures among other areasIn addition the next round of CEPA negotiations between the two countries is scheduled to be held in Ottawa in July 2026Goyal said he held discussions with senior executives from LVMH and LOréal Groupe on expanding sourcing manufacturing and exports from IndiaThe discussions with LVMH focused on strengthening manufacturing in India promoting local talent and enhancing exports while talks with LOréal explored opportunities in Indias beauty and personal care sector following the companys recent investment plans in HyderabadIANS https://dailyworld.in/business/piyush-goyal-highlights-export-push-fta-progress-and-global-investment-talks-673689.html Wed, 13 May 2026 12:42:00 +0530 https://dailyworld.in/business/indias-merchandise-exports-seen-at-nearly-112-billion-in-q1-fy27-report-673704.html New Delhi May 13 Indiaâs total merchandise exports are pegged at 1119 billion during the AprilJune quarter of FY27 a marginal yearonyear growth according to a report released on Wednesday According to the governmentbacked ExportImport Bank of India India Exim Banks latest quarterly export outlook nonoil exports are forecast at 978 billion during the first quarter of FY27 a growth of 35 per cent over the corresponding period last yearMeanwhile nonoil and nongems and jewellery exports are estimated at 904 billion a yearonyear growth of about 3 per cent during the same quarterThe bank noted that growth in nonoil exports is expected to be supported by increasing geographical diversification of shipments timely policy interventions and targeted emergency credit support measuresIt further added that recently concluded trade negotiations with select countries are likely to sustain growth momentum in nonoil export segmentsMoreover Indiaâs export outlook could also benefit from an expected pickup in global demand and favourable exchange rate movements according to the report However the bank cautioned that downside risks continue to persist due to global economic uncertainty geopolitical conflicts and volatility in international commodity marketsNotably India Exim Bank releases quarterly forecasts for merchandise exports nonoil exports and nonoil and nongems and jewellery exports through its inhouse Export Leading Index ELI modelThe model has been developed to track and forecast the movement of Indiaâs exports on a quarterly basis by assessing various domestic and global factors that could influence export performanceThe bank said the next export forecast for the JulySeptember quarter of FY27 will be released during the first fortnight of August 2026 IANS https://dailyworld.in/business/indias-merchandise-exports-seen-at-nearly-112-billion-in-q1-fy27-report-673704.html Wed, 13 May 2026 14:11:00 +0530 https://dailyworld.in/business/rbi-chief-says-fuel-prices-may-go-up-if-iran-war-continues--673707.html New Delhi May 13 IANS RBI Governor Sanjay Malhotra said that if the Middle East conflict continues India may be forced to raise petrol and diesel prices due to the soaring cost of crude oil in the global marketThe RBI Governor highlighted that rising energy prices due to the Iran war are testing Indias flexible inflation targeting necessitating potential policy intervention by the Reserve Bank The central banks next monetary policy meeting is slated for June 5 when it will take a call on key interest rates which it has left untouched to promote economic growthThe Governor indicated that raising retail fuel prices is a matter of time if the West Asia crisis persists which in turn would lead to an increase in transportation costs and inflationIn its April 2026 meeting the RBIs Monetary Policy Committee unanimously decided to keep the repo rate unchanged at 525 per cent maintaining a neutral stance This decision reflects a wait and watch strategy to balance strong domestic growth while keeping an eye on inflation amid global uncertaintiesWe are being more and more data dependent The RBI is being flexible in its approach and is ready to look through the shock if it is transitory but if it is entrenched we need to take action Malhotra said at a conference hosted by the Swiss National Bank and the International Monetary Fund in Switzerland on TuesdayHe pointed out that excise duties had been reduced while the public sector oil companies were absorbing the rise in global crude prices amid the continuing Middle East conflictMeanwhile Petroleum Minister Hardeep Singh Puri has stated that petrol diesel and LPG stocks in the country are adequate but hinted that prices may have to be raised due to the heavy losses that public sector oil companies were piling upPuri said staterun oil marketing companies are incurring losses of nearly Rs 1000 crore per day because fuel prices have not been increased despite the sharp rise in the cost of crude oil in the international market which has crossed the 100 per barrelIndia imports as much as 88 per cent of its crude oil requirement and any increase in global prices leads to a sharp rise in the cost of production of petrol diesel and LPGnbspAccording to the minister underrecoveries have reached Rs 198 lakh crore while losses for the June current quarter stand at nearly Rs 1 lakh crorePuri said the oil companies have increased LPG production to 5500056000 tonnes from around 35000 tonnes earlier to ensure an uninterrupted supply The minister also said India currently holds crude stocks equivalent to around 76 days of demandIANS https://dailyworld.in/business/rbi-chief-says-fuel-prices-may-go-up-if-iran-war-continues--673707.html Wed, 13 May 2026 14:15:00 +0530 https://dailyworld.in/business/india-records-220-deals-worth-228-billion-in-april-amid-geopolitical-tensions-report-673713.html New Delhi May 13 India recorded 220 deals worth 228 billion in April 2026 because of a substantial surge in outbound mergers and acquisitions MampA activity despite ongoing global macroeconomic and geopolitical uncertainties a report showed on Wednesday The report by Grant Thornton Bharat highlighted that five billiondollar deals contributed 174 billion during the month accounting for nearly 80 per cent of the total deal valueMoreover MampA activity emerged as the key driver of overall deal values with 103 transactions worth 187 billion recorded during April which is the highest monthly MampA value since May 2022 it saidMampA values surged by nearly 1000 per cent monthonmonth while deal volumes increased 10 per cent during the periodMeanwhile outbound activity dominated the deal landscape with 21 transactions worth 177 billionIn terms of private equity PE investments the segment experienced selective but resilient growth with 109 deals worth 32 billion announced the monthHowever PE deal volumes declined to the lowest monthly level of the year while values remained the secondhighest yeartodate that indicated a shift towards fewer but larger transactionsAdditionally public markets also remained active during the month as six IPOs raised 450 million and two qualified institutional placements QIPs mobilised 548 millionAccording to Shanthi Vijetha Indiaâs deal landscape witnessed a strong month with the return of largeticket outbound transactionsShe said global acquisitions by Indian companies reflected growing strategic ambition despite prevailing macroeconomic uncertainty while continued momentum in IPOs and QIPs highlighted the strength of Indiaâs capital markets ecosystemSectorwise pharmaceuticals emerged as the leading sector by value while infrastructure and manufacturing also witnessed strong activity through largeticket transactionsMeanwhile retail and consumer along with IT and ITeS remained the most active sectors by deal volume while real estate emerged as the most active MampA sector by volume for the first time jointly leading with energy and natural resources at 16 deals each IANS https://dailyworld.in/business/india-records-220-deals-worth-228-billion-in-april-amid-geopolitical-tensions-report-673713.html Wed, 13 May 2026 15:04:00 +0530 https://dailyworld.in/business/cipla-clocks-55-pc-drop-in-its-q4-profit-to-rs-555-crore-673716.html Mumbai May 13 Pharma major Cipla on Wednesday reported a 546 per cent decline in its consolidated net profit for the fourth quarter Q4 of FY26 weighed down by an impairment charge while revenue also witnessed a marginal drop on a yearonyear basis The company posted a consolidated net profit of Rs 55464 crore in the JanuaryMarch quarter compared to Rs 122184 crore reported in the corresponding quarter of the previous financial year Q4 FY25 according to its stock exchange filingRevenue from operations during Q4 FY26 stood at Rs 654120 crore down 280 per cent compared to Rs 672969 crore in the yearago periodAt the operational level EBITDA for the quarter fell 38 per cent to Rs 955 crore from Rs 15376 crore in the same period last financial yearEBITDA margin also contracted sharply to 146 per cent from 2280 per cent on a YoY basisCipla said that during the quarter and financial year ended March 31 2026 it recorded an impairment charge of Rs 4202 crore in respect of associates due to changes in certain business conditions and market dynamicsExcluding the impairment impact the companyâs EBITDA for the quarter would have stood at Rs 997 crore while EBITDA margin would have been 152 per centMeanwhile the Board of Directors of Cipla recommended a final dividend of Rs 13 per equity share for the financial year ended March 31 2026The company said the dividend subject to shareholder approval at the Annual General Meeting will be paid within 30 days from the date of the AGMThe company also announced June 5 2026 as the record date for determining eligible shareholders for the final dividend payoutFollowing the earnings announcement Cipla shares traded higher in the market At 134 PM Cipla stock was up 37 per cent at Rs 134070 apiece on the NSE IANS https://dailyworld.in/business/cipla-clocks-55-pc-drop-in-its-q4-profit-to-rs-555-crore-673716.html Wed, 13 May 2026 15:05:00 +0530 https://dailyworld.in/business/australia-hikes-budget-outlay-to-boost-ties-with-india-to-253-million-673718.html New Delhi May 13 The Australian government will commit 253 million in the 202627 budget to strengthen bilateral economic strategic and maritime relations with India amid the drastic change in the global geopolitical landscape following Donald Trump taking over as President of the United States âThe funding forms part of the next phase of Australiaâs Comprehensive Strategic Partnership with India and is aimed at helping Australian businesses tap into Indiaâs expanding market seed new areas of cooperation through Maitri grants and strengthen maritime security in the Indian Oceanâ according to a report in The Australia TodayThe increased allocation in the Budget is expected to support stronger business links between the two countries at a time when Australian companies are looking to diversify markets and build deeper commercial ties across the IndoPacific the report statesIndia has become an increasingly central part of Australiaâs regional strategy with both countries working more closely on trade education clean energy technology defence and Indian Ocean securityThe report cites Australiaâs Foreign Minister Penny Wong as saying that the Budget reflected Australiaâs focus on regional stability and longterm partnerships At a time of global uncertainty Australia will remain a reliable partner our region can count on she addedThe Indian funding comes as the government warns that the global development and economic landscape is facing major pressure from aid cuts trade disruption and energy insecurity linked to conflict in the Middle East The government said these pressures risk undermining development gains and increasing instability across the IndoPacific according to the reportMeanwhile the IndiaâAustralia Economic Cooperation and Trade Agreement IndAus ECTA has completed four years since it was first signed and has played a key role in propelling Indiaâs exports and enhancing trade between the two countriesIndiaâs exports to Australia have more than doubled rising from USD 4 billion in FY 2020â21 to USD 85 billion in FY 2024â25 During 2024â25 total bilateral trade stood at USD 241 billion while Indiaâs exports to Australia recorded an 8 per cent growth over the previous year In FY 2025â26 up to February Indiaâs total trade with Australia stood at USD 193 billion according to data compiled by Indiaâs Commerce MinistryUnder the IndiaâAustralia ECTA India granted preferential market access on 703 per cent of its tariff lines covering 906 per cent of trade value while Australia granted preferential market access to 100 per cent of imports from India Of this 983 per cent of tariff lines became dutyfree immediately upon implementation while the remaining 17 per cent 113 tariff lines are being phased out over five years From 1st January 2026 all Indian exports are eligible for zeroduty market access into Australia IANS https://dailyworld.in/business/australia-hikes-budget-outlay-to-boost-ties-with-india-to-253-million-673718.html Wed, 13 May 2026 16:01:00 +0530 https://dailyworld.in/business/higher-gold-import-duty-wont-curb-imports-will-fuel-smuggling-industry-673720.html New Delhi May 13 The Gem and Jewellery Export Promotion Council GJEPC on Wednesday urged the government to hold consultations with industry stakeholders after the recent hike in gold import duty saying that higher duties do not reduce imports but instead lead to a rise in prices and encourage smuggling In a statement the council said that increasing import duties on gold has historically failed to curb imports even as gold prices have nearly doubled in recent years without a proportional decline in demandAccording to the industry body the latest duty hike would raise costs for exporters and put additional pressure on working capital requirementsThe government has increased the basic customs duty on gold to 10 per cent from 5 per cent and raised the Agriculture Infrastructure and Development Cess AIDC to 5 per cent from 1 per centReacting to the move GJEPC said exporters are now required to furnish bank guarantees of nearly Rs 2830 lakh per kilogram of dutyfree gold sourced from Nominated Agencies resulting in severe blockage of working capitalThe council warned that the impact would be particularly harsh on micro small and medium enterprises MSMEs which account for nearly 80 per cent of its membership and are already grappling with a liquidity crunchThe council also noted that higher import duties tend to fuel gold smuggling while simultaneously increasing export costs for the domestic jewellery industryAcknowledging the governmentâs concerns over rising imports GJEPC said it has already convened meetings with major retailers and manufacturers and has written to Prime Minister Narendra Modi suggesting a range of measures aimed at reducing gold imports without hurting the industryAmong the proposals suggested by the council are promoting lowercarat jewellery such as 18karat and 14karat products which it believes could reduce imports by 2030 per centIt also recommended encouraging oldgold exchange programmes and reviving the Gold Monetisation Scheme to mobilise Indiaâs estimated 25000 tonnes of household gold reservesThe council said it is separately preparing a detailed proposal for reviving the Gold Monetisation Scheme and will submit it to the government soonIt further urged policymakers to engage in discussions with the industry to find sustainable solutions that balance fiscal objectives with export growth IANS https://dailyworld.in/business/higher-gold-import-duty-wont-curb-imports-will-fuel-smuggling-industry-673720.html Wed, 13 May 2026 16:04:00 +0530 https://dailyworld.in/business/morgan-stanley-sees-indias-growth-healthy-at-68-pc-in-2026-despite-energy-shock-673728.html New Delhi May 13 Leading global brokerage Morgan Stanley has projected Indiaâs GDP growth at 68 per cent for 2026 supported by strong domestic demand governmentled capital expenditure and improving industrial activity across Asia Moreover the brokerage in its latest outlook noted that the nation is likely to benefit from Asiaâs emerging industrial and capital expenditure supercycle with domestic demand momentum remaining resilient despite global macroeconomic and geopolitical uncertaintiesIt further said that Asia is entering its most powerful industrial supercycle since the mid2000s driven by rising investments in artificial intelligence AI infrastructure energy transition defence spending and broader industrial capacity expansionIndia would benefit from the regional industrial cycle pickup alongside a domestic capex boost supported by relatively easy fiscal and monetary policies according to the brokerageIncoming highfrequency indicators suggest that the domestic demand recovery since 2H25 remains largely intact the report notedThe brokerage said urban consumption and government capital expenditure are likely to remain key growth drivers for India during 2026It further stated that measures to stabilise fuel prices are expected to support private consumption growth even as rural demand may face temporary pressures from weatherrelated disruptions and fertiliser supply challengesAccording to the report government spending is likely to remain focused on infrastructure and defence sectorsIn addition India has increased LPG production by 40 per cent as part of broader regional efforts to manage fuel supply disruptions and strengthen energy securityAdditionally the brokerage projected Asiaâs gross fixed investment to rise to 16 trillion by 2030 from 11 trillion currently reflecting a 7 per cent compound annual growth rate over the next five yearsThe report added that investments in AI infrastructure energy transition and defence are expected to grow at a 16 per cent CAGR during 20262030 creating positive spillovers for exports employment generation and consumption growth across AsiaThe report flagged that geopolitical tensions remain a nearterm risk due to higher energy prices IANS https://dailyworld.in/business/morgan-stanley-sees-indias-growth-healthy-at-68-pc-in-2026-despite-energy-shock-673728.html Wed, 13 May 2026 17:09:00 +0530 https://dailyworld.in/business/sensex-nifty-end-volatile-session-marginally-higher-led-by-metal-stocks-673732.html Mumbai May 13 Indian benchmark equity indices ended a highly volatile trading session with marginal gains on Wednesday supported by buying in metal oil and gas stocks even as weakness in IT banking and auto counters capped the upside The 30share Sensex closed 4974 points or 007 per cent higher at 7460898 after witnessing sharp intraday swings During the session the index touched an intraday low of 7413448 and a high of 7519157The Nifty settled at 2341260 up 3305 points or 014 per cent The index moved between a low of 2326255 and a high of 2358295 during the dayâTechnically 23300 continues to remain the immediate support level followed by 23100 where significant OI concentration is placedâ an analyst saidâOn the upside 23500 now acts as the immediate resistance after the market failed to sustain above it during the sessionâ the analyst addedAmong the top gainers in the Nifty pack were Asian Paints Adani Enterprises and Tata Steel which helped support the benchmarks amid volatile market conditionsBroader markets also ended in positive territory with the Nifty MidCap index rising 077 per cent and the Nifty SmallCap index gaining 031 per centSectorally the Nifty Metal Nifty Oil and Gas and Nifty Consumer Durable indices emerged as the top performers while the Nifty IT Nifty Auto Nifty Bank and Nifty Media indices witnessed the sharpest declinesMarket participants also remained cautious ahead of the scheduled meeting between US President Donald Trump and Chinese President Xi Jinping later in the day where traderelated issues are expected to be discussedInvestors further monitored geopolitical developments in West Asia after Washington adopted a tough stance on Iran following Trumpâs remarks on a fragile ceasefire with global cues continuing to influence market sentimentâMarkets will now closely monitor the USâChina summit for further clarity on trade and geopolitical developments as per the expert IANS https://dailyworld.in/business/sensex-nifty-end-volatile-session-marginally-higher-led-by-metal-stocks-673732.html Wed, 13 May 2026 17:15:00 +0530 https://dailyworld.in/business/tax-export-and-energy-reforms-remain-pakistans-weak-spots-report-673735.html New Delhi May 13 Taxation exports and energy reforms continue to remain Pakistanâs weakest economic areas due to poor implementation policy inconsistency and entrenched institutional constraints a report has said The report published in Business Recorder showed that Pakistan have repeatedly failed to implement reforms in a sustained and consistent manner resulting in low growth weak exports and continued dependence on external financing supportThe countryâs export sector reflects the broader reform challenge it saidOver the years authorities introduced multiple trade policy frameworks exporter incentives and institutional reforms such as the Pakistan Single Window PSW and WeBOC systemsDespite these measures exports have shown only temporary gains and failed to achieve sustained growth while competing economies continued diversifying exports and moving up the global value chainThe report also pointed to weaknesses in Pakistanâs taxation system According to the report tax authorities have failed to effectively broaden the tax base or bring sectors such as retail real estate services and agriculture fully into the formal tax networkIt further identified the energy sector as another major concern citing continued reliance on subsidies and repeated delays in fuel price adjustments because of political sensitivitiesThese delays have contributed to the buildup of circular debt and recurring fiscal imbalances according to the reportPakistanâs reform failures are rooted in a system that favours administrative discretion exemptions and shortterm political considerations over rulesbased governance and longterm policy continuityThe report warned that while ordinary citizens bear the burden of economic adjustment through higher taxes and reduced subsidies deeper structural distortions often remain unaddressedIt added that unless Pakistan addresses these institutional barriers and builds broader support for consistent reforms the country may continue facing recurring economic crises weak growth and external financing pressures IANS https://dailyworld.in/business/tax-export-and-energy-reforms-remain-pakistans-weak-spots-report-673735.html Wed, 13 May 2026 18:28:00 +0530 https://dailyworld.in/business/new-labour-codes-to-cut-compliance-burden-boost-competitiveness-labour-secretary-673748.html New Delhi May 13 The government is working closely with states and industry stakeholders to ensure a smooth and technologydriven implementation of the new labour codes aimed at reducing compliance burden improving worker welfare and enhancing Indiaâs global competitiveness Labour Secretary Vandana Gurnani said here on Wednesday Addressing an event New Labour Codes Implementation Compliance to Competitive Advantage amp Industry Readiness that was organised by ASSOCHAM on New Labour Codes the senior official said that the government has undertaken extensive consultations with states to harmonise implementation frameworks and compliance mechanismsThe success of the labour codes will depend on strong collaboration between government industry and workers she saidAccording to her the reforms consolidate 29 labour laws into four labour codes reducing 1228 sections to 480 sections and streamlining 1436 rules into 357 rules to simplify Indiaâs labour compliance ecosystemShe said the government is adopting a digitalfirst approach under the new framework where inspections would become riskbased technologyenabled and focused more on facilitation than intrusive enforcementThe objective is to minimise unnecessary human interface and encourage voluntary compliance Gurnani statedShe further highlighted that workplace safety timely wage payments and social security compliance should become key governance priorities for industriesAccording to her safe workplaces welfare facilities and transparent wage systems directly contribute to higher productivity workforce confidence and industrial harmonyCalling labour reforms an opportunity rather than merely a compliance requirement the Labour Secretary said the new framework is expected to support higher exports increased formalisation of employment and stronger investment inflows into IndiaShe further added that micro small and medium enterprises MSMEs are likely to benefit significantly from simplified digital compliance systems and reduced procedural complexitiesMeanwhile Central Provident Fund Commissioner and Employeesâ Provident Fund Organisation EPFO CEO Ramesh Krishnamurthi said EPFO is rapidly expanding digital service delivery in line with the new labour code ecosystemHe informed that EPFO is introducing APIbased return filing systems automated account transfer facilities and simplified withdrawal mechanisms to improve ease of compliance for employers and workersKrishnamurthi added that inspections under the social security framework would increasingly rely on data analytics and webbased systems to identify highrisk noncompliance cases improving transparency and efficiencyMoreover the seminar witnessed participation from industry leaders HR professionals labour law experts and representatives from sectors including textiles manufacturing infrastructure and technology IANS https://dailyworld.in/business/new-labour-codes-to-cut-compliance-burden-boost-competitiveness-labour-secretary-673748.html Wed, 13 May 2026 18:39:00 +0530 https://dailyworld.in/business/centre-reduces-oil-gas-royalty-burden-across-offshore-and-deepwater-blocks-673355.html New Delhi May 12 The Centre has reduced the royalty burden on crude oil and casing head condensate production from offshore deepwater and ultradeepwater blocks according to revised royalty provisions notified in the latest schedule under the oil and gas regime Under the revised structure royalty for deepwater areas has been fixed at 5 per cent for the first seven years from the commencement of commercial production and 10 per cent from the eighth year onwardsFor ultradeepwater blocks no royalty will be charged for the first seven years of commercial production In addition a royalty rate of 5 per cent will apply from the eighth year onwardsMoreover the revised royalty schedule covers areas awarded under various regimes including nominationbased awards to national oil companies blocks awarded before the New Exploration Licensing Policy NELP and areas awarded under the Hydrocarbon Exploration and Licensing Policy HELP and Discovered Small Field DSF PolicyFor onland and shallow water areas royalty rates remain at 125 per cent in most categories while certain offshore and ultradeepwater production categories will attract lower leviesThe government has also retained a 75 per cent royalty rate for some categories specified under the revised framework while productionsharing contracts awarded under earlier policies will continue to follow rates specified in respective agreementsThe governmentâs move comes at a time when economies across the world are facing pressure due to the ongoing conflict in West Asia and rising volatility in global energy marketsAdditionally the government has said that we have adequate stocks of petroleum products and LPG is being supplied for domestic cookingEarlier this month US President Donald Trump said he was unhappy with Iranâs response to a US proposal aimed at ending the conflict in the region calling Tehranâs position âcompletely unacceptableâMeanwhile Prime Minister Narendra Modi had appealed to citizens to avoid nonessential gold purchases cut down on foreign travel and reduce fuel consumption in order to help conserve foreign exchange reserves amid the economic impact of the West Asia crisis IANS https://dailyworld.in/business/centre-reduces-oil-gas-royalty-burden-across-offshore-and-deepwater-blocks-673355.html Tue, 12 May 2026 09:45:00 +0530 https://dailyworld.in/business/sensex-nifty-open-lower-amid-crude-spike-geopolitical-tensions-673363.html Mumbai May 12 Indian equity benchmarks traded sharply lower on Tuesday for the second consecutive day in morning trade with both indices declining around 05 per cent amid geopolitical tensions Sensex declined as much as 062 per cent or 474 points to trade at an intraday low of 75541 in early trade while Nifty was seen trading at 23689 down 053 per cent or 126 points from the previous closeSectorwise IT chemicals realty cement and financial indices were among the top losers declining by over 2 per centMeanwhile Infosys Tech Mahindra TCS HCL Tech Wipro SBI Life HDFC Life Maruti Suzuki ICICI Bank Asian Paints Dr Reddys Laboratories and Bajaj Finance were among the top laggardsIn contrast Nifty Metal Nifty Oil amp Gas and Nifty PSU Bank were the only sectors trading in the greenEarlier in the day the Sensex opened at 7568839 down 043 per cent or 326 points while the 50scrip basket began the session at 2372260 lower by 04 per cent or 93 pointsAccording to a market expert sectors that are unlikely to be impacted by Prime Minister Narendra Modiâs austerity appeal are expected to remain resilientâPharmaceuticals is one segment that is unlikely to be impacted at all since the sector has inelastic demandâ the expert said adding that the sector also benefits from rupee depreciationâFMCG too is expected to remain largely unaffected One sector to watch out for is capital goods There are clear signs of recovery in capital formation as reflected in the 67 per cent surge in private capex in September last yearâ the analyst saidâThis positive development has been overshadowed by a flood of negative news If the private capex cycle sustains capital goods stocks are likely to perform well Demand in sectors such as automobiles and renewable energy continues to remain buoyant supporting capex growth in these segmentsâ the expert addedIn commodities international oil benchmark Brent crude rose 109 per cent to 10535 per barrel while US West Texas Intermediate WTI crude gained 123 per cent to 9928 per barrelAmong global equities Asian markets showed a mixed trend Japanâs Nikkei traded 048 per cent higher Hong Kongâs Hang Seng gained 031 per cent while South Koreaâs KOSPI declined more than 2 per centOvernight in the US the SampP 500 closed 019 per cent higher while the Nasdaq settled 010 per cent up IANS https://dailyworld.in/business/sensex-nifty-open-lower-amid-crude-spike-geopolitical-tensions-673363.html Tue, 12 May 2026 09:58:00 +0530 https://dailyworld.in/business/jpmorgan-sees-oil-prices-staying-in-low-100s-despite-hormuz-reopening-673367.html New Delhi May 12 Global crude oil prices are likely to remain in the low 100s per barrel mark for an extended period due to persistent supply disruptions and logistical bottlenecks linked to tensions in West Asia according to a report by JPMorgan Chase amp Co According to the investment banks revised assessment oil prices are expected to remain in the low100s range for most of the year even if the Strait of Hormuz resumes normal operations in the coming weeksAccording to the report disruptions in shipping refinery operations and tanker availability are expected to continue weighing on global energy supply chains preventing a quick correction in pricesThe global brokerage has projected that Brent crude could average around 97 per barrel in 2026 suggesting that energy markets may continue to face tight supply conditions over the medium termThe report further noted that reopening of the Strait alone would not immediately stabilise the market as logistical challenges across the broader oil transport network are likely to persist for monthsMeanwhile oil prices surged again on Tuesday with international benchmark Brent crude trading above 105 per barrel up about 1 per cent after US President Donald Trump criticised Iranâs response to Washingtonâs peace proposal raising fresh concerns over regional stability and its impact on global oil flowsSimilarly West Texas Intermediate WTI crude climbed close to the 100perbarrel mark registering a gain of nearly 1 per centMoreover reports showed that crude output by OPEC declined by 830000 barrels per day in April to 2004 million barrels per dayIn addition domestic equity benchmarks Sensex and Nifty came under sharp pressure declining by around 1 per cent IANS https://dailyworld.in/business/jpmorgan-sees-oil-prices-staying-in-low-100s-despite-hormuz-reopening-673367.html Tue, 12 May 2026 10:39:00 +0530 https://dailyworld.in/business/gold-and-silver-prices-gain-up-to-1-pc-as-geopolitical-concerns-intensify-673371.html Mumbai May 12 Gold and silver prices traded higher on Tuesday with both precious metals witnessing gains of up to 1 per cent amid rising global uncertainty On the Multi Commodity Exchange MCX gold futures June 5 opened at Rs 153999 per 10 grams up Rs 336 or 022 per cent from the previous close of Rs 153663At around 1025 am gold was trading at Rs 153808 higher by Rs 145 or 009 per cent The yellow metal touched an intraday high of Rs 154243 up Rs 580 or 037 per cent while the intraday low stood at Rs 153771 higher by Rs 108 or 007 per centOn the other hand silver futures July 3 opened at Rs 280229 per kg on MCX rising Rs 1988 or 070 per cent from the previous close of Rs 278311The white metal touched an intraday high of Rs 282755 up Rs 4444 or 16 per cent It also touched an intraday low of Rs 279244 higher by Rs 933 or 033 per centAccording to commodity market experts precious metalsâ nearterm bias remains cautiously bullish amid ongoing geopolitical tensionsThe experts added that immediate resistance for gold stands in the Rs 154750âRs 155000 range and a sustained move above this level could extend the rally towards Rs 155500âRs 156000âOn the downside Rs 153000 acts as immediate support while a failure to hold above this level could drag prices back into the Rs 151500âRs 153500 consolidation zoneâ they saidFor silver immediate resistance stands at Rs 284000âRs 285000 and a sustained move above this level could extend the rally towards Rs 287000 with a possible test of Rs 290000 if bullish momentum persists they addedâOn the downside Rs 277000 acts as immediate support with Rs 275000 and Rs 271000 serving as stronger bases if momentum weakensâ the experts notedIn the international market as well precious metals traded in the green COMEX gold was trading at 4733 per ounce up 008 per cent while COMEX silver gained 105 per cent to 86 per ounceGeopolitical tensions escalated again after US President Donald Trump rejected Iranâs peace proposal renewing concerns over global stability IANS https://dailyworld.in/business/gold-and-silver-prices-gain-up-to-1-pc-as-geopolitical-concerns-intensify-673371.html Tue, 12 May 2026 11:17:00 +0530 https://dailyworld.in/business/google-search-faces-outage-users-report-500-internal-server-error-673380.html New Delhi May 12 USbased tech giant Alphabet Incs Google Search experienced a global outage on Tuesday morning with users in India the US and several other regions reporting difficulties accessing the platform Many users attempting to use the search engine were shown a message saying âWe are sorry but it appears that there has been an internal server error while processing your request Our engineers have been notified and are working to resolve the issue Please try again laterâThe disruption triggered a surge in user complaints across online outagetracking platforms and social media with hundreds of reports emerging from India alone within a short span of timeMoreover the issue was identified as a 500 Internal Server Error which generally indicates a serverside problem rather than an issue with usersâ devices or internet connectionsThe error typically occurs when communication between a userâs browser and the companyâs servers is interrupted due to technical problems in the backend infrastructureIn addition several users said they were unable to perform searches or access results intermittently during the outage periodEarlier several technology platforms including AI services also experienced outagesIn March Chinaâs popular AI chatbot DeepSeek suffered one of the biggest disruptions in its history with the platform reportedly remaining offline for more than seven hours overnightSimilarly users of Instagram reported widespread issues during the same month mainly related to inaccessible direct messages DMs and the disappearance of chat themes Users also posted complaints on Instagramâs subreddit and other social media platforms about being unable to use the search feature or view contactsIn February YouTube also witnessed a global outage The platform later confirmed that services had been restored with TeamYouTube posting on X that the issue had been fixed across the platform IANS https://dailyworld.in/business/google-search-faces-outage-users-report-500-internal-server-error-673380.html Tue, 12 May 2026 11:52:00 +0530 https://dailyworld.in/business/indias-micro-enterprises-must-develop-strong-trade-skills-to-propel-growth-cea-nageswaran-673398.html New Delhi May 12 IANS The future of Indias growth will be determined by how inclusively microenterprises are enabled to adopt adapt scale and compete Chief Economic Advisor CEA Dr V Anantha Nageswaran said on TuesdaynbspAddressing a session during the CII Annual Business Summit 2026 here Nageswaran said in many leading economies MSMEs are not technological backwaters but often at the forefront of innovation and technological advancementIndias microenterprises must evolve in the same direction The most critical requirement for this is the development of strong trade skills he told the gatheringHe further stated that entrepreneurs must invest in their own skills and set an example making sure their employees no matter if they are in service areas like accounting HR or inventory also invest in these tradesThese are also pathways to growth as these skills will lead to employment generation This is the way for them to integrate themselves into the global value chain said NageswaranR Dinesh Past President CII and Chairman CII Centre of Excellence on Employment and Livelihood CEL said that when we speak about the future of India micro and small enterprises will play a key roleWe think the future doesnt lie just in boardrooms or tech labs We want to become the enablers for MSMEs and rural jobs We have to make the future of India bright and resilient this paves the way for economic depth social stability and employment architecture he mentioned during the eventAccording to Rajiv Memani President CII the broader question for India is not just what we import but also how we think about manufacturing competitiveness trade relationships and longterm economic resilienceMeanwhile the Union Cabinet chaired by Prime Minister Narendra Modi this month 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 crisisUnder 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 sector This backing is intended to encourage banks and financial institutions to lend additional funds without fear of default risksIANS https://dailyworld.in/business/indias-micro-enterprises-must-develop-strong-trade-skills-to-propel-growth-cea-nageswaran-673398.html Tue, 12 May 2026 13:58:00 +0530 https://dailyworld.in/business/india-leads-global-entrepreneurship-as-founder-profiles-double-report-673401.html New Delhi May 12 India is emerging as a global leader in entrepreneurship with the nation recording the highest yearonyear growth of 104 per cent a report said on Tuesday As per analysis by LinkedIn the country witnessed growth by an increase in members adding the term Founder to their profiles on the platform which is the highest growth among all marketsThe sharp rise has indicated growing entrepreneurial ambition in the country because of changing career aspirations wider adoption of artificial intelligence AI and easier access to digital tools that are lowering traditional barriers to starting a businessThe report further highlighted that younger professionals especially Gen Z are leading the shift towards flexible and independent careers Around 75 per cent of Gen Z entrepreneurs in India reported having multiple income streams compared to 62 per cent among Gen X entrepreneurs it saidIt added that AI and digital technologies are making entrepreneurship more accessible by reducing challenges related to cost expertise and professional networksMoreover around four out of five Indian founders surveyed said entrepreneurship is now accessible regardless of background while 81 per cent believe starting a business has become more achievable today than ever beforeHowever younger entrepreneurs are also increasingly integrating AI into their businesses with 85 per cent of Gen Z founders saying AI and digital tools play an important role in their operationsThe report further showed that the definition of success is evolving among younger entrepreneurs in India with Gen Z respondents identifying freedom and flexibility personal growth and financial wealth as key measures of successKumaresh Pattabiraman LinkedIn India Country Manager said India has always possessed a strong entrepreneurial spirit but AI is now enabling more people to act on business ideas with greater confidence and lower entry barriersHe added that India is also witnessing the rise of the portfolio era where professionals building multiple income streams and redefining traditional career pathsIn addition networking and personal branding are becoming central to entrepreneurial growth Nearly 80 per cent of entrepreneurs in the country said professional networks played a crucial role in helping them start or expand their businessesAdditionally more than 67 per cent of entrepreneurs identified themselves as content creators IANS https://dailyworld.in/business/india-leads-global-entrepreneurship-as-founder-profiles-double-report-673401.html Tue, 12 May 2026 13:59:00 +0530 https://dailyworld.in/business/digihaat-launches-swadeshi-marketplace-to-promote-made-in-bharat-products-673405.html New Delhi May 12 The governmentbacked ecommerce platform DigiHaat on Tuesday announced the launch of Swadeshi a dedicated marketplace to promote authentic MadeinBharat products and strengthen local production ecosystems The platform which is owned by the Open Network for Digital Commerce ONDC launched the initiative in line with the vision of building an Atmanirbhar Bharat through Swadeshidriven commerceMoreover Swadeshi will function as a marketplace within the DigiHaat app enabling consumers to directly purchase products from artisans farmer groups selfhelp groups SHGs NGOs and Indian brandsThe platform will feature curated Bharatmade products across categories such as food grains seed products apparel handicrafts home dÃcor bags and other essentialsIn addition more than 2000 artisans and over 1100 farmer groups from across the country are already connected to the platform according to DigiHaatRahul Vij said the initiative is intended to strengthen the countryâs economic fabric by bringing Indian producers closer to consumersHe added that every purchase made through the platform would contribute towards supporting local enterprises reducing dependence on global supply chains and advancing the broader vision of a selfreliant IndiaAccording to the company Swadeshi by DigiHaat aims to emerge as a national platform built on the principle of Bharat Se Bharat TakEarlier in April DigiHaat announced the launch of metro ticketing services across metropolitan regions such as DelhiNCR Mumbai and Bengaluru marking a step forward in its push to become a unified digital commerce platformDuring the month the platform crossed 2 million downloads and built a community of over 30000 users across its channelsThe platform currently provides services such as food delivery ecommerce and ridehailing through partner networks like Bharat Taxi and Namma YatriDigiHaat a whollyowned subsidiary operating within the ONDC ecosystem functions under Nirmit Bharat a Section 8 notforprofit entity IANS https://dailyworld.in/business/digihaat-launches-swadeshi-marketplace-to-promote-made-in-bharat-products-673405.html Tue, 12 May 2026 14:05:00 +0530 https://dailyworld.in/business/indias-micro-enterprises-must-develop-strong-trade-skills-to-propel-growth-cea-nageswaran-673441.html New Delhi May 12 The future of Indiaâs growth will be determined by how inclusively microenterprises are enabled to adopt adapt scale and compete Chief Economic Advisor CEA Dr V Anantha Nageswaran said on Tuesday Addressing a session during the âCII Annual Business Summit 2026â here Nageswaran said in many leading economies MSMEs are not technological backwaters but often at the forefront of innovation and technological advancementâIndiaâs microenterprises must evolve in the same direction The most critical requirement for this is the development of strong trade skillsâ he told the gatheringHe further stated that entrepreneurs must invest in their own skills and set an example making sure their employees no matter if they are in service areas like accounting HR or inventory also invest in these tradesâThese are also pathways to growth as these skills will lead to employment generation This is the way for them to integrate themselves into the global value chainâ said NageswaranR Dinesh Past President CII and Chairman CII Centre of Excellence on Employment and Livelihood CEL said that when we speak about the future of India micro and small enterprises will play a key roleâWe think the future doesnât lie just in boardrooms or tech labs We want to become the enablers for MSMEs and rural jobs We have to make the future of India bright and resilient this paves the way for economic depth social stability and employment architectureâ he mentioned during the eventAccording to Rajiv Memani President CII the broader question for India is not just what we import but also how we think about manufacturing competitiveness trade relationships and longterm economic resilienceMeanwhile the Union Cabinet chaired by Prime Minister Narendra Modi this month 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 crisisUnder 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 sector This backing is intended to encourage banks and financial institutions to lend additional funds without fear of default risks IANS https://dailyworld.in/business/indias-micro-enterprises-must-develop-strong-trade-skills-to-propel-growth-cea-nageswaran-673441.html Tue, 12 May 2026 15:56:00 +0530 https://dailyworld.in/business/singapore-playing-key-role-in-chinas-plan-to-globalise-yuan-report-673442.html New Delhi May 12 Singapore has emerged as a key hub in Chinaâs strategy to internationalise its currency the renminbi RMB and reduce dependence on the US dollardominated global financial system The city state facilitates Chinaâs monetary and capital flows across other countries in Southeast Asia according to a new report Chinaâs structural limits like restricted capital mobility and regulatory uncertainty constrain the RMBâs global acceptance Consequently Singapore acts as a stable external gateway while diversifying financial opportunities and risks and enabling China to shape a gradual regionally anchored RMB ecosystem according to an article published on the website of the Organisation for Research on China and Asia ORCA The article cites the Peopleâs Bank of Chinaâs 2025 RMB Internationalisation Report as stating that Singapore now ranks among the top offshore RMB hubs globally only behind Hong Kong It accounts for 276 billion RMB worth of deposits contributing to a growing share of RMB trading and crossâborder settlements in Southeast AsiaThe recent announcement to designate DBS Bank as Singaporeâs second RMB clearing bank further strengthens its role in global offshore RMB markets Singaporeâs emergence as an RMB hub is therefore not accidental For Beijing it offers a politically neutral globallytrusted platform at a time when Beijingâs securitydriven priorities for Hong Kong are increasingly affecting its financial roleFor Singapore aligning with RMB internationalisation is a strategic bet to embed itself in ChinaâASEAN economic integration while diversifying its financial opportunities and risksThe recent initiatives on the expanded access to Chinaâs bond market now exceeding 25 trillion USD enable Singaporeâbased institutions a greater role in facilitating foreign participation in the RMB market the article by Omkar Bhole points outSingaporeâs offshore RMB liquidity ecosystem has strengthened significantly in recent years The city now hosts two RMB clearing banks â ICBC Singapore appointed in 2013 and DBS designated in 2025 â enhancing direct access to Chinese financial markets Singapore now accounts for 97 trillion RMB payments clearing in 2024 the article statesThree Singapore banks have also become a part of Chinaâs crossborder interbank payment system CIPS an alternative to SWIFT which reduces payment costs and clearing time for RMB transactions This not only makes these institutions an attractive option for RMBbased settlements but also allows China to gain more acceptance in strengthening an alternative financial system the article observes It also highlights that Singaporeâs own strategic calculus is equally important in this growing ecosystem As a global financial centre dependent on crossborder capital flows the internationalisation of RMB opens an opportunity for Singapore to capture a growing share of Chinalinked trade settlement wealth management and capital market activity particularly as ASEAN economies continue to deepen integration with China IANS https://dailyworld.in/business/singapore-playing-key-role-in-chinas-plan-to-globalise-yuan-report-673442.html Tue, 12 May 2026 16:02:00 +0530 https://dailyworld.in/business/api-security-incidents-cost-apac-firms-over-1-million-on-average-report-673450.html New Delhi May 12 As enterprises across the Asia Pacific APAC region rapidly adopt artificial intelligence AI technologies API security incidents are imposing steep financial costs with the average estimated loss per incident now exceeding 1 million a report showed on Tuesday The report by Akamai Technologies highlighted that 81 per cent of organisations in the region experienced at least one API security incident in the past 12 monthsThe average cost per incident has risen sharply from around 580000 in last yearâs study to more than 1 million reflecting growing cyber risks as AI adoption accelerates the report saidIt noted that attacks involving APIs connected to AI technologies including applications AI agents and large language models LLMs emerged as the most common type of security incident cited by 43 per cent of respondentsMoreover India and Singapore reported the highest exposure to APIrelated attacks with 93 per cent and 90 per cent of organisations respectively reporting at least one incident during the yearMeanwhile Japan recorded the highest average financial impact per breach at 159 million followed by Singapore at 133 million per incidentThe report also pointed to a major visibility gap in enterprise security systems as only 22 per cent of respondents said they maintained a complete inventory of APIs and knew which of them handled sensitive dataHowever while 72 per cent of organisations said their focus on API security increased over the past year only 19 per cent reported fully embedding security testing into their API software development and deployment processesReuben Koh said organisations across APAC are rapidly scaling AI adoption but the security foundations supporting those systems remain inadequateHe noted that APIs are becoming critical infrastructure for AIpowered services and weak visibility or governance could lead to service disruptions higher recovery costs and loss of consumer trustThe report cautioned that weak API visibility is emerging not only as a cybersecurity risk but also as a compliance challenge especially as AI services become more deeply integrated into business operations IANS https://dailyworld.in/business/api-security-incidents-cost-apac-firms-over-1-million-on-average-report-673450.html Tue, 12 May 2026 16:10:00 +0530 https://dailyworld.in/business/maruti-suzuki-selects-6-startups-to-boost-automation-customer-experience-673455.html New Delhi May 12 Leading automobile firm Maruti Suzuki India Limited on Tuesday said that it selected six startups under the 10th cohort of its flagship accelerator programme to develop AIbased and technologydriven solutions aimed at improving automation and enhancing customer experience According to the firm the selected startups named Goat Robotics SheerDrive Schijnenn Digital GenbaNEXT Swayatt Drishtigochar and Swiftex have been awarded paid Proof of Concepts PoCs to cocreate solutions with Maruti Suzuki across key operational areasThe initiatives will focus on improving safety and efficiency in plant operations reducing product development timelines strengthening materiallevel traceability and enhancing customer engagement through digital tools the car maker firm saidHisashi Takeuchi Managing Director amp CEO Maruti Suzuki India Limited said the collaboration with startups will help the company further improve safety standards in its manufacturing plants shorten product design cycles and strengthen material traceability to support circular economy effortsHe added that the programme also aims to enable dealer sales executives to engage with customers more effectively through technologydriven toolsThe accelerator initiative supports the governmentâs Startup India vision by providing startups with mentorship access to facilities and opportunities to work on realworld business challenges the company saidMoreover the selected startups and their focus areas include roboticsbased material movement solutions AIpowered used car pricing tools predictive maintenance systems digital platforms to accelerate product development material traceability solutions and sales support platforms for dealership operationsThe company said the programme not only helps startups refine and scale their innovations but also enables Maruti Suzuki to modernise its operations and build futureready systemsShares of Maruti Suzuki on Tuesday settled more than 2 per cent lower at Rs 1317360 apiece on the BSE The stock touched a 52week high of Rs 1737160 and a 52week low of Rs 1201975 on the exchange IANS https://dailyworld.in/business/maruti-suzuki-selects-6-startups-to-boost-automation-customer-experience-673455.html Tue, 12 May 2026 17:03:00 +0530 https://dailyworld.in/business/sensex-crashes-1-456-points-nifty-slips-below-23-400-as-west-asia-tensions-rattle-markets-673457.html Mumbai May 12 Indian equity benchmarks extended their losses for a second straight session on Tuesday as escalating tensions in West Asia surging crude oil prices and concerns over the broader economic fallout triggered a sharp selloff across sectors The 30share Sensex plunged 145604 points or 192 per cent to close at 7455924 while the Nifty declined 4363 points or 183 per cent to settle at 2337955Commenting on Nifty technical outlook experts said that 23300 now acts as the immediate support level followed by 23100 where significant Put OI concentration is placedâFurther below the 23000 psychological mark remains a critical support zone where strong buying demand had previously emergedâ an analyst statedâOn the upside 23500 has now turned into an immediate resistance after the breakdown followed by 23800 where high Call OI concentration and supply pressure continue to remain strongâ an analyst mentionedOn 30share index SBI was the only stock to close in green Rest all end the session lowerTech Mahindra HCL Tech Titan and TCS were among top losers by falling up to 444 per centInvestor sentiment remained weak after Prime Minister Narendra Modi urged citizens to reduce energy consumption foreign travel and gold purchases amid rising geopolitical uncertainties and pressure from elevated crude oil pricesThe remarks intensified fears that the ongoing West Asia conflict could have a wider economic impact on IndiaThe weakness was more pronounced in the broader market where the Nifty MidCap index dropped 254 per cent and the Nifty SmallCap index tumbled 317 per centSectorally information technology and real estate stocks witnessed the sharpest declines The Nifty IT and Nifty Realty indices emerged as the top laggards while consumer durable and media shares also remained under pressureHowever metal and oil amp gas stocks outperformed the broader market as higher commodity prices boosted sentiment in those sectorsAnalysts said persistent volatility in oil prices and uncertainty surrounding the geopolitical situation are likely to keep markets under pressure in the near term especially given Indiaâs dependence on crude importsâNearterm market sentiment is likely to stay volatile due to crude and currency concerns though any signs of geopolitical easing could support relief rallies aided by resilient domestic fundamentals and stable institutional flows an analyst stated IANS https://dailyworld.in/business/sensex-crashes-1-456-points-nifty-slips-below-23-400-as-west-asia-tensions-rattle-markets-673457.html Tue, 12 May 2026 17:06:00 +0530 https://dailyworld.in/business/no-recommendation-made-for-2-year-construction-ban-niti-aayog-673459.html New Delhi May 12 IANS NITI Aayog on Tuesday dismissed reports claiming that it had recommended a twoyear halt on major construction and demolition activities across the country due to the ongoing West Asia crisis and rising economic pressuresnbspIn a statement posted on social media platform X the government think tank clarified that it had made no such recommendation regarding a construction banThis is to clarify that no such recommendation in any form has been made by NITI Aayog calling for a construction ban the statement said while responding to a media report published on May 12The policy body further said that the reconstruction plans related to key government office complexes are being pursued by the respective ministries and that no suggestion for deferment had been issued by NITI AayogIt is further reiterated that the plan on the reconstruction of the various office buildings is being pursued by the respective Ministry and no recommendation for deferment of the process has been made by NITI Aayog it addedThe clarification came after a report claimed that the think tank had advised the Centre to suspend major construction works for two years amid spiralling construction costs rising imports and supply chain disruptions triggered by the ongoing tensions in West AsiaThe report had suggested that projects involving the demolition and reconstruction of major Central government office complexes including Nirman Bhavan Udyog Bhavan and Shastri Bhavan could be put on hold as part of austerity measures linked to rising energy costs and supply disruptions through the Strait of HormuzAccording to the report the recommendation was allegedly made in view of escalating costs of raw materials fuelintensive construction activity and concerns over energy security following the Iran conflictThe speculation had also gained attention after Prime Minister Narendra Modi recently urged citizens to reduce fuel consumption limit foreign travel and avoid unnecessary gold purchases amid volatile global energy prices caused by the West Asia crisisThe report further claimed that demolition work at Nirman Bhavan had been halted and that preparations for demolition activities at Udyog Bhavan and Shastri Bhavan could also face delaysIANS https://dailyworld.in/business/no-recommendation-made-for-2-year-construction-ban-niti-aayog-673459.html Tue, 12 May 2026 17:23:00 +0530 https://dailyworld.in/business/indias-retail-inflation-recorded-at-348-per-cent-in-april-673473.html New Delhi April 12 Indias retail inflation rate based on the new Consumer Price Index CPI series was recorded at 348 per cent in April compared to the same month of the previous year according to data released by the Ministry of Statistics on Tuesday The commodities that posted the highest inflation during the month were silver jewellery which saw a 14434 per cent jump in prices and gold jewellery which clocked a 4072 per cent increase in pricesOverall food inflation in April stood at 42 per cent as the prices of potatoes plummeted by as much as 2369 per cent during the month while onions turned cheaper by 1767 per cent The prices of chickpea and peas also declined during the month However tomato prices shot up by 3528 per cent the figures showedThe inflation rate for the category housing water electricity gas and other fuels remained subdued at 171 per cent in April despite the soaring oil prices in global markets due to the Middle East conflict as the government did not pass on the hike to consumersSequentially the CPI inflation rate stayed steady in April as it was recorded at 34 per cent in the previous month of MarchMeanwhile the Reserve Bank of India RBI has projected the countryâs inflation rate based on the consumer price index CPI for 202627 at 46 per cent as the nearterm food supply prospects have been boosted by a robust rabi crop which provides some comfort amid rising oil prices in the international market due to the Iran warRBI Governor Sanjaya Malhotra said The passthrough of higher global energy prices has resulted in price increases in select fuels such as premium petrol LPG and diesel for industrial use On the other hand the nearterm food supply prospects have been boosted by a robust rabi crop providing some comfortConsidering all these factors CPI inflation for 202627 is projected to be at 46 per cent with Q1 at 40 per cent Q2 at 44 per cent Q3 at 52 per cent and Q4 at 47 per cent the RBI Governor saidHowever persistently elevated energy prices due to the West Asia conflict and possible El NiÃo conditions which could have a negative impact on the southwest monsoon pose upside risks to inflation he observedMalhotra said that Indiaâs core inflation which excludes food and fuel prices is projected at 44 per cent for 202627 and excluding precious metals it is even lower indicating that underlying inflation pressures are expected to remain contained IANS https://dailyworld.in/business/indias-retail-inflation-recorded-at-348-per-cent-in-april-673473.html Tue, 12 May 2026 18:01:00 +0530 https://dailyworld.in/business/adani-ports-arm-ties-up-with-us-firm-oceaneering-for-deepwater-push-673481.html New Delhi May 12 Adani Ports and Special Economic Zone Ltd APSEZ on Tuesday said its maritime subsidiary Astro Offshore has partnered with USbased engineering and applied technology company Oceaneering International Inc to expand into ultradeepwater and subsea operations a major step in its global offshore growth strategy The agreement between the companies is aimed at tapping specialised offshore opportunities in Europe and strengthening capabilities in complex subsea engineering projects including underwater construction pipeline installation inspection and maintenanceThe move supports APSEZâs broader ambition to build a globally diversified marine platform spanning logistics offshore support services and deepwater infrastructure solutionsAs part of its expansion Astro Offshore has inducted Astro Atlas its first ultradeepwater vessel reinforcing its focus on building a younger highspecification fleet with advanced operational capabilitiesAPSEZ Wholetime Director and Chief Executive Officer Ashwani Gupta said that this development supports APSEZâs ambition to build a globally diversified marine platformHe further added that by combining Astro Offshoreâs expanding highspecification fleet with Oceaneeringâs deepwater engineering and ROV expertise we are enhancing our capabilities in complex offshore operations while expanding into EuropeAstro Offshore CEO Mark Humphreys said the addition of Astro Atlas strengthens the companyâs ultradeepwater capabilities and enables it to address a wider range of offshore requirementsAs our largest and most capable vessel to date she enables us to support a broader range of complex offshore operations and respond more effectively to evolving client requirements he saidAdditionally the 97metre DP2 multipurpose support vessel formerly Energy Savannah is equipped with advanced subsea systems including a 150tonne crane a secondary crane a moonpool and accommodation for up to 100 personnelIt is capable of operating in water depths exceeding 3000 metres the company saidThe partnership comes as APSEZ accelerates its longterm strategy to scale its marine business globally targeting a 200vessel fleet along with marine revenue of Rs 6000 crore and capital expenditure of Rs 13000 crore by FY31 IANS https://dailyworld.in/business/adani-ports-arm-ties-up-with-us-firm-oceaneering-for-deepwater-push-673481.html Tue, 12 May 2026 18:57:00 +0530 https://dailyworld.in/business/how-china-chokes-foreign-banks-673483.html New Delhi May 12 Although foreign banks have been in China for decades they have failed to grow and currently account for a mere 5 per cent of the countryâs total banking assets according to a media article When Chinaâs accession to the World Trade Organisation in December 2001 was finalised the promise extended to foreign financial institutions was one of gradual meaningful integration However this has not taken place the article by Dr Shalini Kumar in the UKs Asian Lite newspaper noted Foreign banks are allowed to function but their growth has been checked by multiple regulators who have put in place a complex set of rules that banks find it difficult to comply with Besides taxes on foreign banks are higher and they are not allowed to repatriate their profitsThe daytoday functioning of foreign banks is monitored by three institutions the Peopleâs Bank of China the National Financial Regulatory Administration and the State Administration of Foreign Exchange This means that a foreign bank is not dealing with a single regulator but with multiple authorities at the same time Routine activities such as lending foreign exchange transactions and compliance reporting fall under overlapping oversight the article statedIt highlights that foreign banks in China are expected to submit close to a thousand reports every year These are not limited to annual disclosures but include daily weekly fortnightly monthly halfyearly and annual submissions A typical week for a compliance team in a foreign bank involves preparing multiple filings at the same time Daily liquidity and transaction reports may be due alongside weekly summaries and monthly statements At the same time banks must keep track of deadlines for halfyearly and annual submissions which require more detailed documentationDelays or errors in these submissions are not treated lightly Even a missed deadline can attract monetary penalties This means that compliance is not just about meeting regulatory standards but about meeting them on time the article points outThe financial side of the equation adds another layer of pressure Foreign banks in China pay around 18 per cent tax to the Chinese government along with a 6 per cent valueadded tax on the interest they earn Interest income is the core of banking When a bank lends money the margin it earns on that loan is its primary source of profit Applying VAT directly to this income means that taxation cuts into the main business activity itself For a foreign bank operating on a smaller scale compared to domestic competitors this has a noticeable impact Margins are tighter and the room to expand lending or offer competitive rates is reduced Regulatory costs and tax burdens do not operate separately Together they shape how much a foreign bank can realistically earn and reinvest the article observedPerhaps the most significant constraint comes after profits are earned Foreign banks are not freely allowed to transfer overseas the profits they make from interest income Instead they are expected to retain and reinvest those earnings within China This changes the basic logic of operating in a foreign market the article added IANS https://dailyworld.in/business/how-china-chokes-foreign-banks-673483.html Tue, 12 May 2026 19:01:00 +0530 https://dailyworld.in/business/april-inflation-reflects-relatively-stable-price-conditions-monsoon-a-key-factor-673487.html New Delhi May 12 The moderate jump in inflation in April reflects relatively stable price conditions across several core consumption categories particularly transport industry leaders said on Tuesday However food price pressures remain elevated in select commodities indicating the continued importance of supplyside monitoring said PHDCCIâAmong major commodity groups transport inflation remained subdued at nearzero levels as Government has not increased retail pump prices despite Brent crude oil prices remaining above 100 per barrel in the international markets since the East Asia Crisisâ said Rajeev Juneja President PHDCCIIndiaâs retail inflation CPI stood at 348 per cent in April on a yearonyear basis according to provisional estimatesFood inflation rose to 420 per cent compared with 387 per cent in March 2026 Rural food inflation at 426 per cent was higher than urban food inflation which stood at 410 per centHowever precious metal prices recorded comparatively higher inflation rates due to jump in international metal prices and depreciating INR compared to US dollar Juneja addedOn the other hand at the food item level potatoes onions motor cars and jeeps peas and chickpeas and air conditioners recorded the lowest inflation rates during AprilâIn India recently a deviation between food and nonfood inflation trends continues to impact the inflation outlook Volatility in agricultural commodities baring seasonal commodities and precious metals may continue to influence household inflation expectations in the near termâ said Dr Ranjeet Mehta SG and CEO PHDCCIRajeev Sharan Head of Research Brickwork Ratings said with the monsoon forecast still uncertain the outlook hinges on whether early rains stabilise vegetable and cereal supplies or amplify existing stresses in perishablesCore inflation at 33 per cent remains relatively contained with categories such as housing 215 per cent health 164 per cent household goods 161 per cent and several nonfood categories showing moderate price momentumâOverall inflation is within a manageable range but the monsoon will determine whether India sustains this benign core trend or faces renewed broadbased price pressuresâ said Sharan IANS https://dailyworld.in/business/april-inflation-reflects-relatively-stable-price-conditions-monsoon-a-key-factor-673487.html Tue, 12 May 2026 19:06:00 +0530 https://dailyworld.in/business/etihad-flight-from-chennai-to-abu-dhabi-cancelled-after-technical-snag-detected-before-takeoff-673493.html New Delhi May 12 An Etihad Airways flight from Chennai to Abu Dhabi was cancelled on Tuesday after a technical issue was detected moments before takeoff prompting emergency protocols and the safe evacuation of passengers from the aircraft According to reports the Airbus A320 operating flight EY343 was preparing for departure from Chennai airport with around 280 passengers on board when engineers identified a hydraulic leak during pretakeoff checksFollowing the detection of the fault the aircraft was declared âAircraft on Groundâ AOG indicating that it was unfit for operations until further inspection and repairs were completedPassengers were safely deboarded and the aircraft was later towed back to the parking bay for maintenance checks No injuries were reported in the incidentInitial reports had suggested that smoke or signs of fire were noticed near the aircraftâs left wing during takeoff preparations triggering concern among passengers and airport authorities Fire and rescue services were immediately deployed as a precautionary measureHowever the airline later clarified that there was no fire onboard the aircraft In a statement quoted by Gulf News Etihad Airways said the plane had taxied back to the gate following a technical issue before takeoffThe airline stated that emergency services responded in accordance with standard safety procedures followed at Chennai airport and stressed that the deployment was purely precautionaryExplaining the disruption Etihad Airways said flight EY343 returned to the gate before passengers disembarked safely The carrier added that the flight was expected to depart with a delay of around three hours and apologised to passengers for the inconvenience causedThe airline further said its staff were assisting travellers with onward journey arrangements and advised passengers to update their contact information through the airlineâs website to receive flight updates through SMS and email notificationsThe Abu Dhabibased airline has recently strengthened connectivity by introducing twicedaily Airbus A321LR services to Mumbai and New Delhi in addition to its existing doubledaily widebody operations on the routes IANS https://dailyworld.in/business/etihad-flight-from-chennai-to-abu-dhabi-cancelled-after-technical-snag-detected-before-takeoff-673493.html Tue, 12 May 2026 20:15:00 +0530 https://dailyworld.in/business/top-industry-leaders-back-pm-modis-economic-appeal-673297.html New Delhi May 11 IANS Top industrialists on Monday backed Prime Minister Narendra Modis call for austerity and economic selfreliance amid global uncertainty triggered by the ongoing conflict in West Asia saying the measures were aimed at strengthening Indias resilience and protecting foreign exchange reservesnbspTVS Motor Company Chairman Venu Srinivasan endorsed the PM Modis emphasis on selfreliance and prudent consumption at a time of heightened global volatilityMeanwhile Bharti Enterprises Chairman Sunil Bharti Mittal also supported the prime ministers remarks describing the current phase as a moment for India to double down on economic discipline and domestic strengthIn addition the chief economic adviser at State Bank of India said PM Modis appeal was focused on safeguarding Indias foreign exchange reserves rather than imposing any form of rationingThe reactions came after Prime Minister Narendra Modi addressing a BJP public meeting at the Parade Grounds in Secunderabad on Sunday urged citizens to conserve fuel revive workfromhome practices limit nonessential purchases and avoid overseas vacations in order to help India navigate economic challenges arising from the ongoing geopolitical tensions in West AsiaIn the present circumstances saving foreign exchange has become equally important for the nation PM Modi saidHighlighting Indias dependence on imported fuel PM Modi stressed that reducing fuel consumption would help save valuable foreign exchange reserves at a time when global energy prices were rising sharplyHe also pitched for restoring digital work practices adopted during the COVID19 pandemic such as remote working virtual conferences and online meetingsDuring the pandemic we successfully adapted to workfromhome systems and virtual meetings We should once again prioritise these practices in the national interest he saidPM Modi further appealed to citizens to avoid nonessential foreign travel destination weddings and overseas holidays while encouraging domestic tourism and celebrations within the countryHe also urged people to defer nonessential gold purchases for the next year to ease pressure on forex reserves and advised households to reduce edible oil consumption saying it would benefit both economic stability and personal healthSeparately Praveena Rai MD ampamp CEO of Multi Commodity Exchange of India Ltd MCX stated that the bullion segment remained a standout performer for the exchange in FY26 with headline numbers doubling yearonyearAccording to her bullion energy and metals continued to contribute strongly to overall growth while daily transactions touched 2 billion this quarterIANS https://dailyworld.in/business/top-industry-leaders-back-pm-modis-economic-appeal-673297.html Mon, 11 May 2026 13:52:00 +0530 https://dailyworld.in/business/csmia-achieves-99-pc-waste-diversion-bags-cii-highest-platinum-rating-for-zero-waste-to-landfill-673310.html Mumbai May 11 Chhatrapati Shivaji Maharaj International Airport CSMIA operated by Mumbai International Airport Limited MIAL on Monday announced that it has been honoured with the prestigious Zero Waste to Landfill ZWL Platinum â Class I Rating by the Confederation of Indian Industry CII MIAL is a joint venture between Adani Airport Holdings Limited AAHL and Airports Authority of India AAI with AAHL holding 74 per cent stake With this milestone CSMIA joins the ranks of Indian airports handling over 50 million passengers annually that have earned this certificationThis recognition highlights the airportâs commitment to sustainable waste management with over 99 per cent of waste diverted from landfills through integrated airportwide systemsThe ZWL assessment verified that CSMIA has implemented bestinclass waste management practices through efficient segregation recycling and recovery mechanisms with key waste streams such as plastic waste MSW wet and dry and other recyclables successfully diverted from landfillsConducted in FY202526 the assessment aligns with ZWLâs objective of maximising waste diversion while minimising overall generationPrimary waste sources at the airport includes food plastic paper and operational waste CSMIA has implemented a robust value chainâdriven approach anchored in the 5R principles Reduce Reuse Repurpose Recycle Recover enabling a significant reduction in landfill dependency and improved waste recoveryThis includes segregation at source recycling monitoring and continuous waste reduction supported by a dedicated Environment and Sustainability team and welldemarcated infrastructure for collection and transfer to authorised recycling facilitiesThe recognition builds on CSMIAâs global sustainability leadership including ACA Level 5 Carbon accreditationOver the past year the airport has accelerated its sustainability roadmap through key initiatives such as transitioning to 100 per cent renewable energy improving energy efficiency by over 40 per cent electrifying its ground fleet scaling energyefficient technologies and strengthening ESG governanceWith this milestone CSMIA is shaping a futureready aviation ecosystem integrating sustainability at the core of its operations IANS https://dailyworld.in/business/csmia-achieves-99-pc-waste-diversion-bags-cii-highest-platinum-rating-for-zero-waste-to-landfill-673310.html Mon, 11 May 2026 15:26:00 +0530 https://dailyworld.in/business/omcs-warn-customers-of-rising-lpg-delivery-scams-demanding-otps-authentication-codes-673314.html New Delhi May 11 IANS Stateowned oil marketing companies warned of rising cases of LPG delivery scams in which fraudsters impersonate official gas delivery services to extract OneTime Passwords and Delivery Authentication CodesnbspHindustan Petroleum Corporation Limited HPCL Indian Oil Corporation and Bharat Petroleum issued advisories on social media about cyber fraud targeting domestic LPG consumers with fake SMS and WhatsApp messages mimicking delivery notifications These messages are used to trick customers into sharing OneTime Passwords OTPs or Delivery Authentication Codes DACsIn several cases callers posed as gas agency executives seeking KYC updates or Aadhaar linking to avoid disconnection of gas connections and then demanded OTPs to verify requestsnbspHPCL notified customers that official delivery messages will come from the sender name VMHPGAScS contain a fourdigit OTP and are used only at the time of cylinder deliveryHP Gas representatives will never ask for OTPs over phone calls WhatsApp messages or suspicious links the post said adding that If the message feels urgent unfamiliar or looks different from the official format do not trust itSimilarly Indian Oil urged customers to share their 6digit DAC only with Indane delivery personnel strictly after they reach the doorstepBPCL reminded consumers that sharing OTP only at the time of delivery is the one rule that keeps them safeFurther the oil corporations urged consumers to only book cylinders or update details through their official applications including IndianOil One HPPay or Hello BPCL Verified websites can also be used but consumers should be wary of communications arriving from personal mobile numbers via WhatsAppIf customers accidentally share details or lose money they must call the National Cyber Crime Helpline at 1930 within the golden hour window to increase the chances of freezing stolen fundsIANS https://dailyworld.in/business/omcs-warn-customers-of-rising-lpg-delivery-scams-demanding-otps-authentication-codes-673314.html Mon, 11 May 2026 15:44:00 +0530 https://dailyworld.in/business/all-you-need-to-know-about-viksit-bharat-g-ram-g-act-673320.html New Delhi May 11 The government on Monday issued frequently asked questions FAQs on Viksit BharatG RAM G Act 2025 to provide a detailed explainer on Indiaâs rural employment and development legislation aimed at aligning rural development with the vision of Viksit Bharat 2047 by providing a statutory guarantee of 125 days of unskilled wage employment to rural households and promoting the creation of productive rural assets The Viksit BharatâG RAM G Act will come into effect on July 1 2026 It will replace Mahatma Gandhi NREGA scheme MGNREGA which will then stand repealed 1 Will the Viksit BharatG RAM G Act be implemented simultaneously across all StatesYes The Viksit BharatG RAM G Act shall be implemented across the country from 01072026 as notified by the Central Government2 How many days of employment are guaranteed under the ActThe Act guarantees 125 days of wage employment in a financial year to every eligible rural household whose adult members volunteer to undertake unskilled manual work3 Are State Governments required to frame schemes under the ActYes State Governments are required to notify schemes consistent with the provisions of the Act within the prescribed period after commencement of the Act4 What happens to ongoing Mahatma Gandhi NREGA works after repealOngoing works under Mahatma Gandhi NREGA as on the date of commencement may continue as per the provisions of the VBâG RAM G ActThese works shall be seamlessly migrated and prioritized for completion ensuring that public assets are not left incomplete and community benefits continue5 Will employment under Mahatma Gandhi NREGA continue during the transition to the Viksit BharatG RAM G ActYes Employment under Mahatma Gandhi NREGA will continue in a seamless and uninterrupted manner till the commencement of VB G RAM G6 What steps have been taken to ensure uninterrupted employment availability before commencementAdequate labour budget has been made available to States and Union Territories in alignment with emerging demand patterns and field requirements to ensure uninterrupted employment opportunities and timely payment of wages7 Can new works be opened during transitionYes Where ongoing works are insufficient to meet employment demand new works from the shelf of works consistent with Schedule I of the Viksit BharatG RAM G Act may be taken up8 Will workers continue to get employment guarantee under the new ActYes Every rural household whose adult members volunteer to undertake unskilled manual work shall continue to receive a statutory employment guarantee The guarantee has been enhanced from 100 days to 125 days per financial year9 Will existing Job Cards workers remain validYes Existing MGNREGA Job Cardsworkers for whom eKYC has been completed shall continue to remain valid till new Gramin Rozgar Guarantee Cards are issued in accordance with the provisions under the Viksit BharatG RAM G Act 202510 Who is eligible for employment under this ActEvery rural household whose adult members volunteer to undertake unskilled manual work shall be eligible for employment under this Act11 How does a household register for Gramin Rozgar Guarantee CardAny rural household not having a MGNREGA Job Card may apply for registration by submitting the names ages and address details of the household through any adult member to the concerned Gram Panchayat for issuance of a Gramin Rozgar Guarantee Card12 How can a household seek employmentAdult members of rural areas may demand employment through the Gram Panchayat Applications can be made orally in writing through the same form 6 as before or through digital platforms to the Gram Panchayat Programme Officer or any authorized person13 Within how many days must employment be providedEmployment must be provided within 15 days from the date of application14 What happens if employment is not provided within 15 daysSuch workers shall be entitled to unemployment allowance15 What unemployment allowance is payable if employment is not providedIf employment is not provided within the stipulated period as per the demand for employment unemployment allowance shall be payable by the State Government at not less than onefourth of the notified wage rate for the first thirty days during the financial year and not less than onehalf of the notified wage rate for the remaining period16 Will enhanced Wage Rates be given under the Viksit Bharat G RAM G SchemeYes Enhanced Wage Rates shall be provided as per the provisions of Section 10 of the Act Until new Wage Rates are notified under the Act the existing Mahatma Gandhi NREGA wage rates shall continue to apply17 How frequently will wages be paidWages shall be paid weekly or in any case not later than a fortnight after closure of muster roll18 How are wages paidWages are paid directly to the individual accounts of the workers in Banks or Post Offices through Direct Benefit Transfer19 What happens if wage payment is delayedIf wages are not paid within fifteen days from the closure of the muster roll wage seekers are entitled to delay compensation at a rate of 005 of the unpaid wages per day of delay20 How will attendance be captured under the new ActAttendance at worksites shall be captured through a face authenticationbased attendance mechanism However an exception handling mechanism shall also be available for genuine cases such as poor or no network connectivity technical issues devicerelated problems or other exceptional circumstances as per guidelines issued by the Government21 Will workers receive Worksite facilitiesYes Worksite facilities shall be provided at the worksite A worksite must have safe drinking water shade for children and rest periods and a first aid box22 Can work continue during peak agricultural seasonsTo facilitate adequate labour availability during peak agricultural seasons such as sowing and harvesting periods the State Governments shall notify a period covering peak agriculture seasons during which works under the Act shall not be undertaken23 What if the work is further than five kilometersAs far as possible employment will be provided within a radius of 5 kilometers of the applicants village If provided beyond that but within the Block workers are paid an extra 10 of the wage rate for transport and living expenses24 Who will implement the Scheme at district levelThe District Collector or equivalent officer designated by the State Government shall function as the District Programme Coordinator DPC25 Who will function as Programme OfficerAn officer not below the rank of Block Development Officer shall be appointed as Programme Officer at block level26 What is the role of Gram PanchayatsGram Panchayats shall play a central role in implementation of the Scheme including registration of households receiving applications for employment execution of works maintenance of records related to the Scheme and preparation of Viksit Gram Panchayat Plans VGPPs etc27 What is the fund sharing pattern under the ActThe fund sharing pattern isâ 9010 for North Eastern and Himalayan Statesâ 6040 for other StatesUTs with legislatureâ 100 per cent Central funding for UTs without legislature28 How are Statewise allocations determined under the ActStatewise normative allocations are proposed to be determined by the Central Government based on objective parameters prescribed under the Act29 How is transparency ensured at the worksiteA Janata Board must be displayed at every worksite indicating work details estimated labour days material quantities and itemwise costs IANS https://dailyworld.in/business/all-you-need-to-know-about-viksit-bharat-g-ram-g-act-673320.html Mon, 11 May 2026 16:57:00 +0530 https://dailyworld.in/business/essar-energy-transition-unveils-landmark-in-country-value-overview-report-673326.html Stanlow UK May 11 Essar Energy Transition on Monday published its maiden InCountry Value Overview Report revealing the scale of the companyâs contribution to the UK economy energy resilience and security and its pivotal role in the UKâs industrial decarbonisation The independent report by FGE NexantECA highlights that while Essar Energy Transition is already a critical fiscal and industrial asset its transition into a lowcarbon energy hub will unlock unprecedented economic value By 2035 Essar Energy Transitionâs operations are projected to deliver Â19 billion in annual Gross Value Added GVA to the UK economy and support nearly 10000 longterm jobs Deepak Maheshwari CEO Essar Energy Transition Fuels commented This report confirms that Essar Energy Transition is a vital national economic engine and as one of only four remaining UK refineries a cornerstone of national energy security We sit at the heart of the North Westâs prosperity supporting nearly 5000 jobs across the UK economy and directly supporting local families with our direct workforce salaries double the national average and spending over Â400 million annually with British suppliersâ Prashant Ruia Chairman of Essar Energy Transition commented âOur Â43 billion investment pipeline is a massive growth opportunity for Britain By 2035 these projects will generate nearly Â2 billion in annual value to the UK and support 10000 jobs We are proving the UK can lead the global energy transition without sacrificing its industrial heritageâ Ruth Herbert Chief Business Development Officer amp Managing Director Essar Energy Transition added âWe are demonstrating that decarbonisation doesnât have to mean deindustrialisation if there is clarity on policy and timely incentives to enable investment We urge the government to provide a level playing field on carbon taxes for domestic fuel producers and importers and support decarbonisation infrastructure in the North West recognising the vital role we play today and the enormous opportunity for us to drive the industrial decarbonisation of tomorrow An economic powerhouse in 2025 critical for energy security As one of only four remaining UK refineries Stanlow is today a cornerstone of national energy security supplying 18 per cent of road transport fuel and 125 per cent of all UK jet fuel demand 25 per cent of jet fuel demand from airports outside of Heathrow while supporting 50 per cent of the UKâs inorganic chemicals industry with feedstocks a sector vital to UK manufacturing Beyond keeping the country moving Essar Energy Transition is a national economic engine to the Treasury In 2025 the company collected Â42 billion in VAT and fuel duty representing 07 per cent of all VAT receipts and 13 per cent of all fuel duty receipts Essar Energy Transition is also a highvalue job generator In 2025 alone it supported 4917 direct indirect and induced jobs with average salaries of direct employees being double the national average with supply chain spend of Â471 million Â426 million in the UK stimulating further activity A major driver of economic value today and decarbonisation in the future Essar Energy Transition aims to establish a global blueprint for the energy transition in the North West By investing in electrification carbon capture and lowcarbon hydrogen it will transform Stanlow into the worldâs first lowcarbon process refinery reducing emissions by 95 per cent by the 2030s Hydrogen carbon capture and advanced sustainable aviation fuels investments are reliant on government incentives and we eagerly await government decisions on increasing our access to CO2 transport and storage networks and wider rollout of hydrogen infrastructure in the North West The NexantECA report quantifies the massive impact of this transition Essar Energy Transitionâs Â43 billion investment pipeline with over Â1 billion nearing a Final Investment Decision will deliver Â19 billion in annual economic value by 2035 supporting nearly 10000 jobs across all Essar Energy Transition business lines This virtuous circle of investment is already underway with 90 per cent of current suppliers UKbased and 40 per cent of orders placed within the North West However Stanlow currently faces a competitive disadvantage Domestic carbon taxes penalise British production while highcarbon imports enter the UK untaxed To safeguard national fuel security and thousands of highvalue jobs the Government must include refined products in the UK Carbon Border Adjustment Mechanism CBAM A level playing field is critical to realising the full economic and environmental potential of Essar Energy Transitionâs decarbonisation plans IANS https://dailyworld.in/business/essar-energy-transition-unveils-landmark-in-country-value-overview-report-673326.html Mon, 11 May 2026 18:21:00 +0530 https://dailyworld.in/business/sensex-tanks-over-1300-points-as-middle-east-tension-intensifies-673327.html Mumbai May 11 Indian benchmark equity indices ended sharply lower on Monday as investor sentiment weakened amid rising concerns over the impact of the ongoing West Asia conflict on global growth and inflation At the closing bell the Nifty was down by 3603 or 149 per cent at 2381585 and the Sensex ended 131291 points or 170 per cent lower at 7601528Commenting on the Nifty technical outlook experts said that overall the index appears vulnerable in the short termâImmediate support is placed at 23700 below which the decline may accelerate further On the upside resistance is placed at 24000 above which sentiment could improve an analyst statedWeak global cues and fears of prolonged geopolitical tensions weighed on market sentiment throughout the sessionAmong the major laggards on the Nifty index were Titan Company InterGlobe Aviation and State Bank of IndiaOn the other hand Coal India Adani Ports and Hindustan Unilever were among top gainersThe broader markets also remained under pressure with the Nifty MidCap index ending 105 per cent lower while the Nifty SmallCap index declined 113 per centSectorwise the Nifty Consumer Durables index emerged as the worst performer plunging nearly 4 per centThe Nifty Realty Nifty PSU Bank and Nifty Media indices also witnessed significant declines as investors turned cautious amid fears of higher inflationary pressures and slowing economic activityHowever some defensive sectors managed to outperform the broader market The Nifty FMCG Nifty Pharma and Nifty Healthcare indices showed relative resilience as investors shifted towards safer bets during the market volatilityAnalysts said prolonged tensions in the region could lead to higher crude oil prices increased inflationary pressures and uncertainty over the global economic outlook factors that are likely to keep investors cautious in the near termâRising uncertainty surrounding crude oil prices and fears of further geopolitical escalation triggered aggressive unwinding of positions dragging indices lower into the closeâ an analyst statedMeanwhile the Indian rupee started the week on weak note closing at the record low level as geopolitical volatility intensifiedâFrom a technical standpoint the USDINR pair has resistance at 9545 and 9580 while support shifted to 9470â an analyst mentioned IANS https://dailyworld.in/business/sensex-tanks-over-1300-points-as-middle-east-tension-intensifies-673327.html Mon, 11 May 2026 18:24:00 +0530 https://dailyworld.in/business/gold-etf-inflows-jump-34-pc-in-april-equity-mutual-funds-attract-rs-38-440-crore-673330.html New Delhi May 11 The mutual fund industry in India continued to witness strong investor participation in April with overall industry inflows rising to Rs 322 lakh crore while gold exchange traded funds ETFs recorded robust growth amid heightened geopolitical uncertainty surrounding tensions between the US and Iran according to data released by the Association of Mutual Funds in India AMFI on Monday The data also showed that actively managed equity mutual funds attracted net inflows of Rs 3844020 crore during the monthInflows across equity categories remained healthy with flexicap funds leading the segment by attracting inflows of Rs 1014785 crore in AprilMeanwhile smallcap funds saw net investments worth Rs 688590 croreMidcap funds also witnessed strong investor interest with inflows of Rs 655140 crore during the month while largecap funds received inflows of Rs 252461 croreMeanwhile net inflows into gold ETFs stood at Rs 30403 crore in April marking a 34 per cent rise on a monthonmonth basis The net assets under management AUM of gold ETFs stood at Rs 178 lakh crore as of April 30Globally too investors returned to gold ETFs in AprilAccording to the World Gold Council global gold ETFs recorded inflows worth 66 billion during the month with all regions witnessing positive flows led by European fundsOn the debt side mutual funds recorded inflows of Rs 247 lakh crore in April supported by strong participation in overnight and liquid fund categoriesOvernight funds attracted inflows of Rs 3142045 crore while liquid funds saw investments worth Rs 165 lakh crore during the monthEarlier in April the domestic mutual fund industry closed FY26 with assets under management AUM rising 122 per cent to Rs 7373 lakh crore adding Rs 8 lakh crore to its asset base over the year despite sustained equity market volatility IANS https://dailyworld.in/business/gold-etf-inflows-jump-34-pc-in-april-equity-mutual-funds-attract-rs-38-440-crore-673330.html Mon, 11 May 2026 18:25:00 +0530 https://dailyworld.in/business/sensex-nifty-fall-1-pc-in-early-trade-as-us-iran-tensions-keep-oil-prices-elevated-673247.html Mumbai May 11 Indian equity markets traded cautiously on Monday with benchmark indices falling 1 per cent each in early trade after the US and Iran failed to reach an agreement on a peace proposal related to the West Asia conflict Sensex declined as much as 943 points or 122 per cent to hit an intraday low of 76384 in morning trade while Nifty fell 280 points or 115 per cent to 23897Sectorally all indices traded in the red with Nifty Consumer Durables Nifty Auto Nifty PSU Bank Nifty Private Bank Nifty Oil amp Gas and Nifty Chemicals falling up to nearly 3 per centAmong Nifty stocks Titan IndiGo MampM Shriram Finance Eternal Maruti Suzuki Bajaj Auto Bajaj Finserv Bharti Airtel HDFC Life Eicher Motors and Dr Reddyâs Laboratories were among the top laggardsMoreover India VIX the market volatility gauge rose nearly 2 per cent to 107Earlier in the session the Sensex opened at 7663809 down 69010 points or 089 per cent Similarly the 50scrip basket opened nearly 200 points lower or 085 per cent down at 2397010According to a market expert equities are likely to face pressure from two major headwinds on MondayâOne hopes of a resolution to the West Asia crisis have faded again following President Trumpâs rejection of Iranâs response Consequently Brent crude has surged to 105 potentially worsening the current account deficitâ the expert saidThe expert further noted that Prime Minister Narendra Modiâs appeal to curb the consumption of fuel gold chemical fertilisers and edible oil while discouraging avoidable foreign travel reflects a crisismanagement response to rising pressure on the current account deficit due to elevated crude pricesâThis call for austerity carries slightly negative implications for economic growth in FY27 Industries linked to petroleum fertilisers gold aviation hotels and related sectors are likely to face sentimentdriven pressure Defensive sectors such as pharmaceuticals may remain resilientâ the expert addedUS President Donald Trump on a social media platform said I have just read the response from Iranâs socalled Representatives I donât like it â TOTALLY UNACCEPTABLE Thank you for your attention to this matterHopes of an imminent resolution to the 10weeklong USIran conflict which could have reopened oil transit through the Strait of Hormuz faded after President Donald Trump on Sunday rejected Iranâs response to the US proposal as unacceptableIn commodities Brent crude rose 441 per cent to 10576 per barrel while US West Texas Intermediate WTI gained 512 per cent to 10031 per barrelMeanwhile Asian markets traded mixed Japanâs Nikkei and Hong Kongâs Hang Seng were down 03 per cent each while South Koreaâs KOSPI rose over 4 per cent IANS https://dailyworld.in/business/sensex-nifty-fall-1-pc-in-early-trade-as-us-iran-tensions-keep-oil-prices-elevated-673247.html Mon, 11 May 2026 10:15:00 +0530 https://dailyworld.in/business/noel-tata-opposes-venu-srinivasan-vijay-singhs-continuation-at-tedt-673253.html New Delhi May 11 Tata Trusts Chairman Noel Tata has voted against the reappointment of Venu Srinivasan and Vijay Singh as trustees of the Tata Education and Development Trust TEDT according to multiple reports Noel Tata reportedly has cast his vote a day before the voting window was scheduled to close confirming the outcome of the processThe reappointments required unanimous approval which means the opposition effectively ended the possibility of both trustees securing another termReports claim that Srinivasan and Singh are set to step down from TEDT following the completion of their existing tenuresThe move assumes significance as Noel Tata has generally maintained alignment with senior trustees on governance matters in the past His decision to oppose the reappointments is being seen as a notable shift amid ongoing discussions around leadership and oversight within Tata TrustsMoreover TEDT is among the key charitable entities operating under the Tata Trusts umbrella and runs several educationfocused initiatives such as scholarships and academic support programmes Though it does not hold equity in Tata Sons the trust oversees a sizeable corpus and remains an influential institution within the groupâs philanthropic networkThe latest development comes at a time when broader governancerelated deliberations are underway across Tata Trusts Meanwhile senior trustees expected to examine issues linked to representation on the Tata Sons board the performance of certain group companies and future leadershiprelated mattersDiscussions are also understood to include the possible induction of former Titan Company Managing Director Bhaskar Bhat to the Tata Sons boardWhile Srinivasanâs role as a Tata Trusts nominee director on the Tata Sons board is also said to be under reviewEarlier trustees Mehli Mistry and JN Mistry had also reportedly voted against the proposalsNotably meetings of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust originally expected earlier this month have been rescheduled for May 16 IANS https://dailyworld.in/business/noel-tata-opposes-venu-srinivasan-vijay-singhs-continuation-at-tedt-673253.html Mon, 11 May 2026 10:44:00 +0530 https://dailyworld.in/business/gold-slips-silver-gains-amid-rising-west-asia-tensions-673266.html New Delhi May 11 Gold and silver traded mixed on Monday amid heightened global uncertainty with gold slipping into the red while silver remained in positive territory On the Multi Commodity Exchange MCX gold futures for June 5 opened marginally lower by Rs 43 at Rs 152487 per 10 grams against the previous close of Rs 152530Selling pressure intensified during the session dragging the yellow metal down by Rs 638 or 041 per cent to hit an intraday low of Rs 151892 around 11 am The intraday high stood at Rs 154434In contrast silver futures for July 3 witnessed gains in early trade The white metal rose 114 per cent or nearly Rs 3000 to touch an intraday high of Rs 264922 per kgAt the time of filing the report silver was trading at Rs 262552 up Rs 630 or 024 per cent The metal touched an intraday low of Rs 261800According to commodity market expertsm the governmentâs appeal comes at a time when elevated crude oil prices and uncertainty surrounding the Strait of Hormuz are increasing concerns over Indiaâs import bill and foreign exchange reservesGold prices fell in early morning trade after posting weekly gains pressured by a firm dollar and elevated oil prices after President Trump rejected Iranâs latest response to a USbacked peace proposal he saidAnalysts believe the government is attempting to discourage nonessential gold imports at a time when rising crude oil prices are already expected to widen Indiaâs trade deficit and increase pressure on the current account deficitPM Modi made the appeal while addressing a BJP public meeting in Secunderabad on Sunday He urged citizens to avoid nonessential gold purchases for the next one year to help reduce pressure on Indiaâs foreign exchange reserves amid the ongoing West Asia crisisMoreover in the international market COMEX gold was trading over 1 per cent lower at 4678 per ounce while silver was marginally up 004 per cent at 80 per ounceThe volatility in precious metals comes amid heightened geopolitical tensions after US President Donald Trump reportedly rejected Iranâs peace proposalAccording to reports Iran had sent a proposal through Pakistan that included ending the conflict reopening the Strait of Hormuz and resuming talks on its nuclear programme However differences between the two sides persisted over issues related to uranium demands keeping tensions elevatedTrump also posted on social media that he had reviewed the response from Iranian representatives and found it unacceptableIn addition the rupee crashed 139 paise to 9490 against the US dollar in early trade on Monday IANS https://dailyworld.in/business/gold-slips-silver-gains-amid-rising-west-asia-tensions-673266.html Mon, 11 May 2026 12:20:00 +0530 https://dailyworld.in/business/we-are-building-for-a-living-rising-demanding-india-gautam-adani--673268.html New Delhi May 11 IANS Gautam Adani Chairman of the Adani Group said on Monday that Indias path will not be Americas or Chinas path because we are not building for an abstract future we are building for a living rising demanding IndianbspnbspAddressing the CII Annual Business Summit 2026 here Gautam Adani said India is building for households moving up cities expanding outward factories coming alive vehicles turning electric and millions of small businesses waiting to scalenbspIndias advantage is simple Everything we build will already have demand waiting for it The task before us is to build the capacity that can keep pace with the demand the Adani Group Chairman told the gatheringnbspIn the energy sector India has made extraordinary progress As of March 2026 India has crossed 500 gigawatts of installed power capacity A staggering 53 per cent of this capacity has been added over the past 10 yearsnbspAnd India is well on its way to add another 4X capacity over the next two decades to take India to 2000 gigawatts by 2047 This is not a symbolic progress This is nationscale execution growing rapidly industrialising deeply digitising massively and decarbonising meaningfully all at the same time said the billionaire industrialistNotably the GDP trajectory is the best manifestation of the growth storynbspIt took India 67 years after Independence to become a 2trilliondollar economy But it took just 12 more years to add the next two trillion Gautam Adani emphasisedHe further stated that India is no longer growing through incremental additionnbspIndia is growing through compounding acceleration Every road port airport factory energy asset and data centre augments the next layer of growth At this pace India will add the equivalent of a new European economy to its GDP every decade This is not linear growth This is compounding national power Gautam Adani notedA decade ago few imagined the scale of Indias mobile data explosion But once smartphones became affordable networks expanded data prices fell and consumption explodedAI will create a similar surge but this surge will be far more powerhungry Data centre capacity that is expected to reach five gigawatts by 2030 could rise to nearly 75 gigawatts by 2047 That is why India must prepare now the Adani Group Chairman highlightedThere is one version of the AI story circulating across global boardrooms It says AI will eliminate workers It says technology will replace human judgement It says efficiency means fewer peopleI reject this story entirely India must not import fear from the western world A country can limit its own future not only by a lack of capability but also by accepting someone elses assumptions as truth India must build AI not as a force that removes opportunity but as a force that expands productivity creates new jobs empowers small businesses and gives Indians the tools to compete with the best said Gautam AdaniWhen UPI was launched many considered it just a payment system That was too small a way to understand UPI UPI did not simply move money from one account to another It moved trust into the hands of ordinary IndiansIt made a street vendor digitally visible It made a small merchant instantly payable It transformed the mobile phone from a communication device into an economic instrument Once trust became instant commerce became instant Once payments became frictionless new markets became viable he mentionedOnce ordinary Indians entered the digital economy entirely new business models became possibleMarkets that were invisible became visible Customers who were underserved became reachable Needs that had not yet been named became new enterprises AI will do the same but at a far greater scale It will create companies we cannot yet name It will create business models we cannot yet define It will create markets that today are invisible said Gautam AdaniIANS https://dailyworld.in/business/we-are-building-for-a-living-rising-demanding-india-gautam-adani--673268.html Mon, 11 May 2026 12:41:00 +0530 https://dailyworld.in/business/strengthen-smes-ecosystem-boost-farming-sector-eam-jaishankar-as-india-hands-over-agro-facility-in-trinidad-amp-tobago-673100.html Port of Spain May 10 External Affairs Minister EAM S Jaishankar has jointly handed over an agroprocessing facility in Trinidad and Tobago along with the Caribbean nations Prime Minister Kamla PersadBissessar EAM Jaishankar said on Saturday that the commitment made by Prime Minister Narendra Modi in July 2025 during his visit is being delivered nowThis project will strengthen Trinidad and Tobagos Small and Medium Enterprises SMEs ecosystem and provide fresh impetus to its farming sector the EAM wrote on social media platform XEarlier on Saturday EAM Jaishankar joined Trinidad and Tobagos Prime Minister for a Quick Impact Project QIP on Nelson Island where the first Indians arrived in island nationSupported by Indian assistance this will preserve and showcase the shared heritage of an enduring journey he said on X regarding the QIPOn Friday Prime Minister Kamla PersadBissessar said in the Trinidad and Tobago Parliament that India has honoured and delivered on its commitments to the Caribbean nation the Trinidad Express Newspaper reportedShe also mentioned that 800 citizens benefited from the prosthetic limb initiative supported by India and mentioned that Trinidad and Tobago will receive 20 hemodialysis units and two sea ambulances from India to strengthen healthcare delivery and emergency medical response the report notedThe EAM also joined Prime Minister PersadBissessar at the presentation ceremony of Made in India laptops for school children in Trinidad and TobagoReferring to Prime Minister Narendra Modiâs earlier commitment EAM Jaishankar said Joined PM Kamla PersadBissessar at the presentation of Made In India laptops to Trinbagonian schoolchildren Delivering on PM Narendra Modis commitment last year this is a message of learning awareness and opportunitySpeaking at the flagraising ceremony held at the Ministry of Foreign and CARICOM Affairs the EAM underlined the historic relationship between the two countriesS Jaishankar said India had traditionally had very warm and friendly relations with Trinidad and Tobago and these ties have been shaped by shared history a struggle against colonialism and a very special bond of cricket People of the two countries share a lot in commonHe also announced the conclusion of several agreements during the visitIn another X post the EAM said Concluded Agreements today on Tourism on Solarisation of Ministry of Foreign and CARICOM Affairs building on Quick Impact Projects and on establishing Ayurveda Chair IANS https://dailyworld.in/business/strengthen-smes-ecosystem-boost-farming-sector-eam-jaishankar-as-india-hands-over-agro-facility-in-trinidad-amp-tobago-673100.html Sun, 10 May 2026 08:19:00 +0530 https://dailyworld.in/business/us-iran-tensions-crude-oil-surge-and-q4-earnings-to-drive-dalal-street-next-week-673171.html Mumbai May 10 Investors are expected to remain cautious next week as escalating tensions between the US and Iran rising crude oil prices the ongoing March quarter earnings season foreign fund outflows and rupee weakness are likely to dictate the direction of the Indian stock market Benchmark indices extended losses for the second consecutive session on Friday weighed down mainly by banking and financial stocks amid growing geopolitical uncertaintyThe Sensex ended 516 points or 066 per cent lower at 7732819 while the Nifty slipped 151 points or 062 per cent to close at 2417615Commenting on Nifty technical outlook experts said that on the upside resistance levels are placed at 24500 and 24600âOn the downside support is seen at 24000 and 23800 A breakdown below 23800 could result in increased selling pressureâ an analyst statedMarket participants will closely track developments in the ongoing USIran conflict after tensions escalated over the Strait of Hormuz crisisThe geopolitical tensions also pushed global crude oil prices sharply higher Although prices later trimmed gains amid hopes of easing hostilities concerns over potential supply disruptions through the Strait of Hormuz continue to keep investors on edgeInvestors will also focus on the March quarter earnings season as more than 400 companies are scheduled to announce their results in the coming weekCorporate earnings and management commentary are expected to provide cues on demand trends margin pressures and the broader economic outlookCommenting on Bank Nifty technical outlook analyst stated that in the near term immediate downside support is placed in the 54600â54200 zone in case selling pressure reemergesâOn the upside 56400 acts as immediate resistance while 56800 stands as the next key supply zoneâ an analyst mentionedâGiven the current market structure traders are advised to remain disciplined and adhere to strict stoploss strategies amid ongoing volatilityâ a market expert stated IANS https://dailyworld.in/business/us-iran-tensions-crude-oil-surge-and-q4-earnings-to-drive-dalal-street-next-week-673171.html Sun, 10 May 2026 12:02:00 +0530 https://dailyworld.in/business/indias-private-capex-jumps-67-pc-to-rs-77-lakh-crore-in-strongest-investment-revival-in-over-a-decade-673182.html New Delhi May 10 Indiaâs private capital expenditure recorded a sharp 67 per cent jump to Rs 77 lakh crore in September 2025 signalling the strongest revival in the countryâs investment cycle in more than a decade according to the Confederation of Indian Industry CII on Sunday The industry body said private capex had risen significantly from Rs 46 lakh crore in September 2024CIIâs analysis of nearly 1200 companies from the CMIE Prowess database showed that manufacturing accounted for Rs 38 lakh crore or nearly half of the total private investment led by sectors such as metals automobiles and chemicals The services sector contributed Rs 31 lakh crore driven by trading communications and ITITeS industriesComplementary economic indicators also pointed towards strengthening investment activity Capacity utilisation among manufacturing firms rose to 756 per cent in the third quarter of FY26 from 743 per cent in the previous quarter while new order books expanded 103 per cent yearonyear Bank credit growth also accelerated sharply averaging nearly 14 per cent in the second half of FY26 compared with around 10 per cent in the first halfChandrajit Banerjee said the sharp rise in private capex was the clearest sign yet that Indiaâs investment cycle had decisively turnedâThe 67 per cent jump in private capex to Rs 77 lakh crore is by some distance the most important signal yet that Indiaâs investment cycle has decisively turnedâ he said adding that private enterprise was now committing capital at scale across sectors in a manner not seen in well over a decadeAgainst the backdrop of the ongoing West Asia crisis and global economic uncertainty CII also unveiled a fivepoint industry action agenda aimed at supporting economic stability and protecting growth momentumThe proposals include a phased rollback of the central excise duty cut on petrol and diesel over six to nine months as crude oil prices stabilise along with a voluntary industryled energy conservation initiative targeting a 3 to 5 per cent reduction in fuel and power consumption over the next two quartersThe industry chamber also proposed a voluntary 45day MSME payment guarantee backed by the TReDS platform and supplychain finance mechanisms to ease working capital stress for small businesses during the volatile global environmentâThe credit for this turnaround belongs squarely to the Governmentâ Chandrajit Banerjee said adding that industry must now translate the favourable policy environment into higher investments jobs exports and value addition IANS https://dailyworld.in/business/indias-private-capex-jumps-67-pc-to-rs-77-lakh-crore-in-strongest-investment-revival-in-over-a-decade-673182.html Sun, 10 May 2026 13:16:00 +0530 https://dailyworld.in/business/market-valuation-of-4-of-top-10-firms-falls-over-rs-1-lakh-crore-last-week-673186.html Mumbai May 10 Amid a rangebound trend in equities the combined market valuation of four of the top10 most valued firms eroded by more than Rs 1 lakh crore last week with State Bank of India emerging as the biggest laggard During the week the benchmark Sensex gained 41469 points or 053 per cent while the Nifty advanced 1786 points or 074 per centAmong the top10 valued companies Bharti Airtel State Bank of India SBI Tata Consultancy Services TCS and Larsen amp Toubro LampT witnessed a decline in their market capitalisation In contrast HDFC Bank ICICI Bank Bajaj Finance Hindustan Unilever and Life Insurance Corporation of India LIC posted gains in valuationSBI suffered the steepest erosion in market value with its valuation falling by Rs 4472234 crore to Rs 94110762 crore Bharti Airtelâs market capitalisation declined by Rs 311671 crore to Rs 111805503 croreThe valuation of TCS dropped by Rs 2845626 crore to Rs 86647769 crore while Larsen amp Toubro saw its market capitalisation slip by Rs 537184 crore to Rs 54662121 croreOn the gaining side HDFC Bank added Rs 1542509 crore taking its valuation to Rs 120269926 crore Bajaj Finance saw its market capitalisation rise by Rs 1148689 crore to Rs 59461002 croreHindustan Unilever gained Rs 876397 crore in valuation to reach Rs 53756298 crore while LIC added Rs 275137 crore to take its market capitalisation to Rs 50754944 crore ICICI Bank also registered an increase of Rs 169461 crore pushing its valuation to Rs 90667539 croreHDFC Bank remained the second most valued firm during the week followed by Bharti Airtel SBI ICICI Bank TCS Bajaj Finance Larsen amp Toubro Hindustan Unilever and LICMeanwhile commenting on Nifty technical outlook experts said that on the upside resistance levels are placed at 24500 and 24600On the downside support is seen at 24000 and 23800 A breakdown below 23800 could result in increased selling pressure an analyst stated IANS https://dailyworld.in/business/market-valuation-of-4-of-top-10-firms-falls-over-rs-1-lakh-crore-last-week-673186.html Sun, 10 May 2026 14:00:00 +0530 https://dailyworld.in/business/market-valuation-of-4-of-top-10-firms-falls-over-rs-1-lakh-crore-last-week-673187.html Mumbai May 10 Amid a rangebound trend in equities the combined market valuation of four of the top10 most valued firms eroded by more than Rs 1 lakh crore last week with State Bank of India emerging as the biggest laggard During the week the benchmark Sensex gained 41469 points or 053 per cent while the Nifty advanced 1786 points or 074 per centAmong the top10 valued companies Bharti Airtel State Bank of India SBI Tata Consultancy Services TCS and Larsen amp Toubro LampT witnessed a decline in their market capitalisation In contrast HDFC Bank ICICI Bank Bajaj Finance Hindustan Unilever and Life Insurance Corporation of India LIC posted gains in valuationSBI suffered the steepest erosion in market value with its valuation falling by Rs 4472234 crore to Rs 94110762 crore Bharti Airtelâs market capitalisation declined by Rs 311671 crore to Rs 111805503 croreThe valuation of TCS dropped by Rs 2845626 crore to Rs 86647769 crore while Larsen amp Toubro saw its market capitalisation slip by Rs 537184 crore to Rs 54662121 croreOn the gaining side HDFC Bank added Rs 1542509 crore taking its valuation to Rs 120269926 crore Bajaj Finance saw its market capitalisation rise by Rs 1148689 crore to Rs 59461002 croreHindustan Unilever gained Rs 876397 crore in valuation to reach Rs 53756298 crore while LIC added Rs 275137 crore to take its market capitalisation to Rs 50754944 crore ICICI Bank also registered an increase of Rs 169461 crore pushing its valuation to Rs 90667539 croreHDFC Bank remained the second most valued firm during the week followed by Bharti Airtel SBI ICICI Bank TCS Bajaj Finance Larsen amp Toubro Hindustan Unilever and LICMeanwhile commenting on Niftys technical outlook experts said that on the upside resistance levels are placed at 24500 and 24600On the downside support is seen at 24000 and 23800 A breakdown below 23800 could result in increased selling pressure an analyst stated IANS https://dailyworld.in/business/market-valuation-of-4-of-top-10-firms-falls-over-rs-1-lakh-crore-last-week-673187.html Sun, 10 May 2026 14:00:00 +0530 https://dailyworld.in/business/sensex-nifty-outlook-remains-positive-despite-iran-us-tensions-analysts-673189.html Mumbai May 10 Indian equity benchmarks ended lower on Friday amid rising geopolitical tensions after reported clashes between Iran and the US near the Strait of Hormuz dampened investor sentiment Despite the weakness market experts believe the broader trend for both the Sensex and Nifty remains positive although volatility could persist in the near termThe Nifty declined 055 per cent to settle at 24193 while the Sensex fell 067 per cent to close at 77321However both benchmark indices managed to end the week with gains of more than 070 per cent despite sharp intraday swingsIn the broader market the Nifty Smallcap 100 rose 022 per cent while the Nifty Midcap 100 slipped 015 per centAccording to market experts the Sensex continues to show strength from a technical perspective despite Fridayâs correctionâIn the near term immediate downside support is placed in the 54600â54200 zone in case selling pressure reemergesâ an analyst statedâOn the upside 56400 acts as immediate resistance while 56800 stands as the next key supply zoneâ the analyst addedTraders are advised to remain cautious and follow disciplined risk management while closely tracking key levels for the next directional move market experts addedOn the Nifty market experts said the index ended the week at 2417615 gaining 17860 points or 074 per cent on a weekly basisâOn the upside resistance levels are placed at 24500 and 24600 On the downside support is seen at 24000 and 23800 A breakdown below 23800 could result in increased selling pressureâ an analyst statedâGiven the current market structure traders are advised to remain disciplined and adhere to strict stoploss strategies amid ongoing volatilityâ the analyst added IANS https://dailyworld.in/business/sensex-nifty-outlook-remains-positive-despite-iran-us-tensions-analysts-673189.html Sun, 10 May 2026 14:25:00 +0530 https://dailyworld.in/business/people-keep-falling-for-same-money-traps-zerodhas-nithin-kamath-on-ulips-endowment-plans-673198.html New Delhi May 10 Nithin Kamath has raised concerns over the way Indian investors continue to fall for unsuitable financial products despite easier access to financial education and online information In a post on social media platform X the Zerodha cofounder said that while India has witnessed a massive rise in firsttime investors entering mutual funds stocks and insurance products many continue to repeat the same financial mistakes year after yearâWhen it comes to personal finance people somehow keep making the same mistakes over and over again Thereâs very little creativity in the mistakes people makeâ Kamath wroteâTake investing Pretty much every influencer every serious finance writer and the financial media have been screaming for years donât mix insurance with investments ULIPs are usually a bad idea Endowment policies are usually a bad ideaâ he addedKamath specifically criticised the continued popularity of ULIPs and traditional endowment insurance policies products that financial planners and investment experts have long warned againstAccording to him despite years of articles videos and awareness campaigns explaining the drawbacks of these products their sales continue to rise steadilyâULIPs are usually a bad idea Endowment policies are usually a bad idea And yet ULIP sales continue to grow and endowment plans continue to be sold People continue to fall for the same pitches despite all the articles videos and excel sheets explaining why these products are badâ he saidKamath argued that the problem is no longer a lack of information Investors today have access to online comparison tools detailed policy disclosures and AI platforms that can help explain complex financial products in simple languageâEven a cursory Google search will tell you the problem And today in 2026 you can just ask ChatGPT or Claude whether a product is a good idea and theyâll usually show you the mathâ he added IANS https://dailyworld.in/business/people-keep-falling-for-same-money-traps-zerodhas-nithin-kamath-on-ulips-endowment-plans-673198.html Sun, 10 May 2026 15:45:00 +0530 https://dailyworld.in/business/chinas-supply-chain-dominance-likely-to-be-hit-by-tech-leap-in-west-673223.html New Delhi May 10 China is currently leveraging its driven by its dominance in critical minerals inputs required for the production in sectors such as New Energy Vehicles NEV to gain a geopolitical advantage through its capability to disrupt global supply chains However according to an article in The Diplomat this advantage is likely to be overturned in the near future with the leap in new technology that is taking place in Western countries with companies such as US tech giant Tesla forging ahead with new battery technology and driverless vehiclesThe article states that the only major manufacturing sector in which China has a genuine prospect of leading and maintaining global competitiveness is the NEV industry Other sectors such as semiconductors or robotics hold significant prestige and offer some hope of achievement but Chinaâs offerings remain far behind the international standardHowever while Chinaâs NEV sector rises Western technological advancements are bringing in new upgrades that threaten to render existing NEV supply chains obsolete as per the articleIt highlights that new battery technologies will determine who commands the postupgrade future marketThere is also the competition over integrated manufacturing costs While Chinese manufacturing had previously secured a relative advantage this edge is constantly at risk of being blunted by electric carmaker Tesla which is using highdensity production lines to reduce costs which can potentially outcompete Chinese NEV manufacturing Besides Tesla has a big lead in driverless vehicle technology which will represent a revolutionary leap forward it saidThese three technological advancements are seen as having the potential to render Chinaâs current supply chain strategy ineffectiveBased on average industrial cycles we estimate a window of three to five years In other words Chinaâs current advantages within specific segments of the supply chain are likely to erode within that timeframe Unless China can consistently achieve meaningful breakthroughs in technological advancement the window of opportunity remains remarkably narrow the article observed IANS https://dailyworld.in/business/chinas-supply-chain-dominance-likely-to-be-hit-by-tech-leap-in-west-673223.html Sun, 10 May 2026 18:12:00 +0530 https://dailyworld.in/business/india-doubles-down-on-building-climate-resilient-farming-boosting-soil-health-673065.html New Delhi May 9 IANS The government launched the National Mission for Sustainable Agriculture NMSA in 201415 and since then Rs 211984 crore has been released under Rainfed Area Development RAD covering 850 lakh hectares and benefiting 1435 lakh farmers through Integrated Farming System an official factsheet said on SaturdaynbspImplemented since 201516 about 109 lakh hectares have been covered under the Per Drop More Crop PDMC scheme with Rs 26325 crore released as central assistanceUnder the Soil Health Management 9753 lakh soil samples were collected and 9287 lakh tested in 202526 while 2579 crore Soil Health Card have been generated since 2015 to guide balanced nutrient managementLaunched in 2015 the Soil Health Card SHC Scheme serves as the principal farmer advisory instrument under the NMSA These cards provide cropspecific nutrient recommendations enabling farmers to rationalise fertiliser use and enhance soil healthAn evaluation conducted by NITI Aayog in 2025 indicates that the scheme has contributed to correcting nutrient imbalances particularly by reducing excessive urea use and has led to improvements in agricultural productivitynbspIt has also supported the broader objectives of Integrated Nutrient Management INM Notably 685 per cent of surveyed farmers reported a significant improvement in soil health following the adoption of recommended practices while 257 per cent observed marginal improvementsBetween 2014 and 2025 2996 climateresilient crop varieties were released under the National Agricultural Research System the factsheet informedThe NMSA was envisaged as a strategic intervention to mitigate the adverse impacts of climate variability on agriculture while ensuring longterm food and livelihood securitySubsequently from 201819 NMSA was operationalized as a submission within the Umbrella Scheme of the Green RevolutionKrishonnati YojananbspFurther institutional restructuring from 202223 resulted in its inclusion under the umbrella of Pradhan Mantri Rashtriya Krishi Vikas Yojana PMRKVY reflecting a consolidated approach to sustainable climateresilient agricultural development informed the official statementIANS https://dailyworld.in/business/india-doubles-down-on-building-climate-resilient-farming-boosting-soil-health-673065.html Sat, 09 May 2026 12:28:00 +0530 https://dailyworld.in/business/sebi-mulls-additional-changes-to-strengthen-buyback-framework-673066.html Mumbai May 9 IANS The Securities and Exchange Board of India SEBI has proposed additional measures to its plan to reintroduce openmarket buybacks through stock exchanges including a shortened completion timeline and new safeguards for minority shareholdersnbspSEBI after consultation with the Primary Market Advisory Committee PMAC said companies would be allowed to undertake openmarket buybacks which must be completed within 66 working days from the offer opening and must use at least 40 per cent of the buyback size within the first half of the offer periodThe regulator said a 66day timeline is warranted due to recent changes under the Finance Act 2026 to the Companies Act with respect to the permissible gap between two buyback offers which necessitates a balanced approachThe regulator said that a sixmonthlong period proposed by PMAC may make buybacks irrelevant in the context of market developments and could prove difficult for shareholders to trackAs an additional safeguard SEBI may direct freezing of shares and other specified securities held by promoters and their associates at the ISIN level during the buyback period Existing rules bar promoters from dealing or transferring company shares from the board decision until the buyback closesThe regulator has proposed removing the requirement for a separate trading window for buyback transactions and conducting such trades through the normal market mechanismFurther it proposed dispensing with the requirement to display the companys identity as a purchaser on the trading screenThe regulator also proposed introducing an explicit provision to ensure buybacks do not breach minimum public shareholding norms and aligning the interval between two buyback offers with provisions under the Companies Act 2013It also mulls making companies mandatorily send an intimation to shareholders through electronic mode regarding the buyback offer within one working day of such public announcementIANS https://dailyworld.in/business/sebi-mulls-additional-changes-to-strengthen-buyback-framework-673066.html Sat, 09 May 2026 12:33:00 +0530 https://dailyworld.in/business/gold-surges-183-pc-this-week-amid-persistent-tensions-in-strait-of-hormuz-673067.html New Delhi May 9 IANS Gold prices rose 183 per cent during the week over persistent geopolitical uncertainty and volatile crude pricesnbspOn Friday MCX gold June futures gained 004 per cent while MCX silver May futures surged 134 per cent Currently gold futures stand at Rs 152589 while silver futures at Rs 261999 per kgThe price of 10 grams of 24carat gold was at Rs 151078 on Friday up from Rs 148357 seen on Monday market opening according to data published by the India Bullion and Jewellers Association IBJAPrecious metals continued to rise for four consecutive sessions as optimism over a potential USIran peace agreement and a softer US dollar outweighed a strongerthanexpected US jobs reportUS jobs data showed that employment rose more than forecast in April while the unemployment rate held at 43 per cent underscoring resilience in the labour market and reinforcing expectations that the Federal Reserve may keep interest rates higher for longerCentral banks maintaining interest rates higher for longer could pressure nonyielding assets like goldIn international markets Comex gold climbed about 50 to a session high of 4760 per troy ounce posting a weekly gain near 15 per cent Market participants said the prospect of easing regional tensions and a weaker dollar supported demand for nonyielding bullionGold and silver have fallen nearly 10 per cent since the USIran conflict began on February 28The broader safehaven structure remains intact though the pace of the rally has moderated as the dollar steadies and broader risk sentiment shows tentative signs of improvement market participants saidDespite commodities flow disruption in the Strait of Hormuz dominating the macro narrative markets are also entering a phase of technical consolidation following the sharp swings witnessed in recent weeks analysts saidPrecious metals are witnessing mixed price action with gold and silver attempting to stabilise after recent corrective pressureWest Asian tensions were rekindled on Thursday after US and Iranian forces exchanged attacks near the strait though US officials said the ceasefire remained in placeImmediate resistance for MCX Gold is placed at Rs 154000Rs 155500 and immediate support is seen near Rs 150000Rs 148000 analysts saidFor MCX Silver the Rs 265000 zone acts as immediate resistance and the Rs 260000Rs 258000 zone now serves as immediate support they addedIANS https://dailyworld.in/business/gold-surges-183-pc-this-week-amid-persistent-tensions-in-strait-of-hormuz-673067.html Sat, 09 May 2026 12:39:00 +0530 https://dailyworld.in/business/phdcci-hails-governments-rs-5-000-crore-emergency-credit-support-for-airlines-673069.html New Delhi May 9 IANS PHD Chamber of Commerce and Industry PHDCCI on Saturday welcomed the governments decision to approve a Rs 5000 crore emergency credit support scheme for airlines under ECLGS 50 to address the financial and operational stress arising from the ongoing West Asia crisisnbspRajeev Juneja President PHDCCI said The Governments swift intervention through the Rs 5000 crore emergency credit scheme demonstrates strong policy responsiveness towards one of the most critical pillars of Indias services economyAviation is the backbone of tourism trade and business mobility and supporting airline stability at this juncture will have a cascading positive impact across the broader economy including hospitality travel services and employment generation said JunejaThe announcement aligns with key recommendations made in the recently released PHDCCI Tourism and Hospitality Resilience Report titled Impact of the West Asia Conflict on Indias Tourism Aviation ampamp Hospitality Sectors which highlighted the urgent need for targeted financial and policy support measures to stabilise Indias aviation and tourism ecosystem amid geopolitical disruptionsThe report observed that higher operating costs and limited seat availability could impact inbound tourism demand from longhaul markets such as Europe and North America where travellers are increasingly sensitive to airfare levels and travel durationThe recommendations outlined in the PHDCCI report specifically emphasised the importance of financial resilience mechanisms and liquidity support for aviation and tourism stakeholders during periods of geopolitical uncertainty said Anil Parashar ChairTourism and Hospitality Committee PHDCCIPHDCCI said that continued policy support in areas such as ATF cost rationalisation reduction in VAT on aviation fuel strengthening travel facilitation mechanisms including eVisas and improving liquidity support for tourism MSMEs will remain important for sustaining Indias longterm tourism competitivenessThe current geopolitical situation has highlighted the deep interdependence between aviation connectivity and tourism growth Timely financial support measures such as this will help airlines maintain operational continuity preserve consumer confidence and minimise disruptions across the travel ecosystem said Dr Ranjeet Mehta CEO and Secretary General PHDCCIIANS https://dailyworld.in/business/phdcci-hails-governments-rs-5-000-crore-emergency-credit-support-for-airlines-673069.html Sat, 09 May 2026 14:28:00 +0530 https://dailyworld.in/business/conducted-searches-at-17-locations-in-mumbai-in-anil-ambani-led-reliance-group-cases-cbi-673070.html Mumbai May 9 IANS The Central Bureau of Investigation CBI on Saturday said it has conducted searches at 17 premises in Mumbai in connection with three cases registered against Anil Ambaniled Reliance ADA Group companies Reliance Telecom Ltd Reliance Commercial Finance Ltd Reliance Home Finance Ltd and their DirectorsnbspAccording to a CBI statement these searches are being conducted at the residential premises of Directors of the abovementioned companies as well as at the office premises of intermediary companies whose accounts were used for diversion of bank fundsThe statement further stated that searches are conducted on the strength of Search Warrants dated May 8 issued by the Special Judge for CBI cases Mumbai and have resulted in the seizure of incriminating documentsSearches have also revealed that multiple intermediary companies were operating from the same address The investigation is continuing according to the CBIIt may be recalled that the CBI during the last few months has registered seven cases against the Anil Ambaniled Reliance Group based on the complaints lodged by various Public Sector Banks and LIC in connection with alleged frauds involving thousands of crores of rupeesThe total quantum of alleged loss in these cases is Rs 27337 croreThe CBI earlier conducted searches at 14 locations in the last few months immediately after registration of these casesTwo senior executives of RCom D Vishwanath Joint President of Reliance Communications who was overall incharge of banking operations of the Group and Anil Kalya Vice President who had actively supported Vishwanath in managing banking operations and paymentsutilisation of funds were arrested on April 20Both the accused persons are presently in judicial custody The investigation into the cases relating to the Anil Ambaniled Reliance Group is being monitored by the Supreme Court the CBI statement addedIANS https://dailyworld.in/business/conducted-searches-at-17-locations-in-mumbai-in-anil-ambani-led-reliance-group-cases-cbi-673070.html Sat, 09 May 2026 15:53:00 +0530 https://dailyworld.in/business/cci-probes-alleged-rs-200-crore-financial-assistance-by-pernod-ricard-to-retailers-to-boost-sales-673086.html New Delhi May 9 Fair trade regulator the Competition Commission of India CCI has ordered an investigation into French liquor group Pernod Ricard over allegations that the company extended financial assistance worth around Rs 200 crore to retailers in New Delhi in exchange for preferential stocking and promotion of its brands The antitrust regulatorâs order said the allegations relate to corporate guarantees provided by Pernod Ricard to help liquor retailers secure bank loans under Delhiâs excise policy framework introduced in 2021The complaint alleged that the company offered guarantees amounting to nearly 23 million euros around Rs 200 crore to support retailers bidding for liquor licences while retailers in return ensured significant shelf space and stock allocation for Pernod Ricard productsThe CCI observed that the allegations warranted a detailed probe noting that such arrangements could potentially distort market competition and limit consumer choice by disadvantaging rival brandsâThe nondealing in the product of the competitors is likely to result in distortion of demand by way of moving retail demand away from the competing brandsâ the regulator said in its orderThe regulator further noted that such practices may have resulted in restrictions on competing products in retail outlets across DelhiThe order also referred to an internal company communication from 2021 in which executives allegedly discussed gaining a âstrategic advantageâ in Delhiâs liquor retail market through financial support to retailersThe CCI said the investigation will now be conducted by its Director General DG who will examine the allegations in detail before the commission takes a final view in the matterâAccordingly the Commission directs the Director General DG to cause an investigation into the matter in relation to the alleged conduct under the provisions of Section 261 of the Actâ the CCI said in its orderThe CCI said it was prima facie of the view that the alleged conduct by Pernod Ricard and its retailers or wholesalers to push brands and increase market share in Delhiâs Indian Made Foreign Liquor IMFL market could fall under âexclusive dealing agreementsâ prohibited under the Competition ActThe regulator further directed the DG to complete the investigation and submit a report within 90 days from the date of receipt of the orderThe CCI also said only select entities like Pernod Ricard Indo Spirits Pathway HR Solutions Universal Distributors Khao Gali Bubbly Beverages Shiv Associates and Organomix Ecosystems would remain part of the investigation while allegations against other parties were dropped due to a lack of evidence indicating violations under the Competition ActPernod Ricard whose portfolio includes brands such as Chivas Regal and Absolut Vodka did not immediately respond to a request for commentNotably the company has previously faced scrutiny in matters related to Delhiâs liquor policy and tax disputes IANS https://dailyworld.in/business/cci-probes-alleged-rs-200-crore-financial-assistance-by-pernod-ricard-to-retailers-to-boost-sales-673086.html Sat, 09 May 2026 21:08:00 +0530 https://dailyworld.in/business/small-towns-villages-driving-surge-in-sip-accounts-hdfc-amc-ceo-673098.html New Delhi May 9 A growing share of systematic investment plan SIP inflows is now coming from smaller towns and rural areas reflecting the rapid expansion of Indiaâs retail investor base beyond major cities HDFC AMC Managing Director and CEO Navneet Munot said on Saturday Speaking to IANS Munot said the democratisation of Indiaâs capital markets is accelerating with participation rising across age groups and geographiesIt is encouraging to see thousands of people showing interest in mutual funds capital markets and the Indian economy Investors increasingly want to understand how they can benefit from Indiaâs longterm growth story and create wealth through disciplined investing he saidAccording to him investing is no longer restricted to metro cities as people from diverse backgrounds and regions are now entering the financial marketsThe HDFC AMC chief highlighted that a significant portion of new SIP registrations is now coming from B30 locations or cities beyond the top 30 urban centresWhile large cities still account for a higher share in terms of investment amount the number of SIP accounts from smaller towns and villages is growing rapidly he said adding that the trend reflects rising financial awareness and a strengthening investment culture across the countryMunot also pointed to the growing enthusiasm among young investors especially those in the 2030 age group who remain optimistic about Indiaâs economic prospects and are increasingly focusing on longterm wealth creationHe said India continues to offer strong longterm opportunities driven by factors such as a young population rising domestic demand digitalisation and the aspirations of 14 billion peopleCommenting on global uncertainties Munot said volatility in markets and geopolitical developments are a normal part of economic cycles and should not distract longterm investorsIndia has continued to deliver strong economic and market performance over the past three decades despite several global disruptions he notedMunot said HDFCâs mutual fund business has witnessed multiple market cycles over the last 3035 years and the experience shows that disciplined and regular investing has historically generated healthy longterm returns for investorsMoreover he advised investors to continue investing consistently and remain focused on longterm financial goals to benefit from Indiaâs growth journey IANS https://dailyworld.in/business/small-towns-villages-driving-surge-in-sip-accounts-hdfc-amc-ceo-673098.html Sat, 09 May 2026 21:27:00 +0530 https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-renewed-us-iran-tensions-672892.html Mumbai May 8 Indian stock markets traded on a cautious note Friday with benchmark indices declining 07 per cent each in the morning session as renewed hostilities between the United States and Iran strained a fragile ceasefire and rattled investor sentiment globally Sensex fell as much as 071 per cent or over 500 points to hit an intraday low of 7729172 in early trade while Nifty slipped by 168 points or 069 per cent to 2415815Among sectoral indices Nifty Private Bank Nifty PSU Bank Nifty Auto and Nifty Oil amp Gas were the top losersKey laggards in the Nifty pack included HDFC Bank Axis Bank ICICI Bank Mahindra amp Mahindra Tata Motors Maruti Suzuki Eicher Motors Shriram Finance and EternalHowever Nifty IT Nifty Chemicals Nifty Pharma and Nifty Healthcare bucked the trend and posted gainsA market expert noted that the escalationdeescalation drama in West Asia continues to drive volatility in crude oil pricesThe expert also highlighted a notable divergence in global market performanceDespite this geopolitical tension some markets are doing extremely well while others are performing poorly An important trend in India is the outperformance of the broader market the Nifty Midcap index is now at a record high despite elevated valuations the expert saidOn the geopolitical front Iran accused Washington of violating the monthlong ceasefire while the US maintained that its strikes were retaliatory triggered by Iranian forces firing on American naval vessels transiting the Strait on ThursdayIrans military said US forces targeted an Iranian oil tanker a second ship and civilian areas in the strait and on the mainlandMeanwhile US President Donald Trump told reporters that the ceasefire remained in effect as Washington awaited Tehrans response to its latest peace proposalOil prices surged on the back of the renewed tensions International benchmark Brent crude jumped 282 per cent to 10289 per barrel while US West Texas Intermediate WTI advanced 4 per cent to 9864 per barrelAsian equities were broadly under pressure with the Nikkei Hang Seng and KOSPI each trading up to 1 per cent lowerOvernight on Wall Street the SampP 500 closed 038 per cent lower while the Nasdaq ended down 013 per cent IANS https://dailyworld.in/business/sensex-nifty-slip-in-early-trade-amid-renewed-us-iran-tensions-672892.html Fri, 08 May 2026 09:59:00 +0530 https://dailyworld.in/business/air-india-board-discusses-cost-cutting-measures-amid-mounting-losses-672897.html New Delhi May 8 The Tata Groupbacked Air India board has discussed a range of costcutting measures including possible furloughs and deferment of performancelinked bonuses as the airline grapples with mounting losses and rising operating pressures amid the ongoing West Asia conflict as per multiple reports The meeting that was held at the airlineâs headquarters in Gurugram lasted for more than three hours and focused on the carrierâs financial position cost rationalisation initiatives and broader operational challengesThe airline is evaluating multiple austerity measures to contain expenses as higher jet fuel prices and airspace restrictions linked to geopolitical tensions in West Asia continue to impact operationsAmong the options discussed were temporary unpaid leave for employees and delaying bonus payouts which form part of employeesâ costtocompany structureThe airline has been experiencing a sharp increase in operating expenses in recent months due to longer flying routes and elevated fuel costs arising from the regional conflictThe board also reviewed the airlineâs financial performance for 202526 and deliberated on leadership transition plans including the selection of a new Chief Executive OfficerAir India CEO and Managing Director Campbell Wilson is set to step down later this year and is scheduled to address employees at a townhall meeting on FridayMoreover Air India Group is estimated to have posted losses exceeding Rs 22000 crore in the financial year ended March 2026In April Air India Express announced the restoration of flight operations to Qatar and Bahrain while also expanding its network across key Gulf destinations including the UAE Oman and Saudi Arabia effective April 30 2026The ongoing geopolitical tensions in West Asia have also weighed on the broader aviation sector disrupting flight schedules and increasing operational costs for airlines globallyMedia reports said Dubai International Airport witnessed a sharp decline in passenger traffic in March with volumes falling significantly amid disruptions linked to the regional conflict IANS https://dailyworld.in/business/air-india-board-discusses-cost-cutting-measures-amid-mounting-losses-672897.html Fri, 08 May 2026 10:15:00 +0530 https://dailyworld.in/business/tata-trusts-defer-key-board-meetings-to-may-16-amid-legal-challenges-672901.html New Delhi May 8 The board meetings of Sir Dorabji Tata Trust SDTT and Sir Ratan Tata Trust SRTT the principal shareholders of Tata Sons have been deferred to May 16 amid legal issues and ongoing deliberations over governance matters according to sources The meetings were originally slated for May 8 and were expected to examine the Trusts representation on the Tata Sons board including a possible review of certain nominee directorsAccording to them a few trustees who had already joined the scheduled meeting were informed shortly before commencement that the discussions had been called off However the meetings had earlier been fixed for May 12 before being postponed which is the second schedule changeAmong the matters likely to come up for discussion were recent remarks made by Tata Trusts vicechairmen Vijay Singh and Venu Srinivasan on the possibility of listing Tata SonsTheir comments are understood to have prompted a wider internal assessment within the Trusts regarding whether board nominees are aligned with the broader institutional view on the holding company remaining privately heldThe majority within the Trusts continues to favour retaining Tata Sons as an unlisted entity a position backed by chairman Noel Tata despite a few differing opinionsWhile Vijay Singh was not reappointed to the Tata Sons board last year any potential review involving Venu Srinivasan is likely to draw attention given his prominence in India Inc and his continuing role within the TrustsThe debate around a possible listing of Tata Sons has remained a sensitive issue within the Tata Group for several years with differing viewpoints emerging occasionally within the Trustsâ leadershipThe board of SDTT includes Noel Tata Venu Srinivasan Vijay Singh Darius Khambata Neville N Tata and Bhaskar Bhat The SRTT board comprises Noel Tata Srinivasan Singh Jimmy Tata Jehangir HC Jehangir and Khambata IANS https://dailyworld.in/business/tata-trusts-defer-key-board-meetings-to-may-16-amid-legal-challenges-672901.html Fri, 08 May 2026 11:11:00 +0530 https://dailyworld.in/business/tata-trusts-defers-key-board-meetings-to-may-16-amid-legal-challenges-672902.html New Delhi May 8 The board meetings of Sir Dorabji Tata Trust SDTT and Sir Ratan Tata Trust SRTT the principal shareholders of Tata Sons have been deferred to May 16 amid legal issues and ongoing deliberations over governance matters according to sources The meetings were originally slated for May 8 and were expected to examine the Trusts representation on the Tata Sons board including a possible review of certain nominee directorsAccording to them a few trustees who had already joined the scheduled meeting were informed shortly before commencement that the discussions had been called offHowever the meetings had earlier been fixed for May 12 before being postponed which is the second schedule changeAmong the matters likely to come up for discussion were recent remarks made by Tata Trusts vicechairmen Vijay Singh and Venu Srinivasan on the possibility of listing Tata SonsTheir comments are understood to have prompted a wider internal assessment within the Trusts regarding whether board nominees are aligned with the broader institutional view on the holding company remaining privately heldThe majority within the Trusts continues to favour retaining Tata Sons as an unlisted entity a position backed by chairman Noel Tata despite a few differing opinionsWhile Vijay Singh was not reappointed to the Tata Sons board last year any potential review involving Venu Srinivasan is likely to draw attention given his prominence in India Inc and his continuing role within the TrustsThe debate around a possible listing of Tata Sons has remained a sensitive issue within the Tata Group for several years with differing viewpoints emerging occasionally within the Trustsâ leadershipThe board of SDTT includes Noel Tata Venu Srinivasan Vijay Singh Darius Khambata Neville N Tata and Bhaskar BhatThe SRTT board comprises Noel Tata Srinivasan Singh Jimmy Tata Jehangir HC Jehangir and Khambata IANS https://dailyworld.in/business/tata-trusts-defers-key-board-meetings-to-may-16-amid-legal-challenges-672902.html Fri, 08 May 2026 11:13:00 +0530 https://dailyworld.in/business/kpit-technologies-founder-ravi-pandit-passes-away-at-71-672906.html New Delhi May 8 KPIT Technologies founder and Chairman Ravi Pandit passed away in Pune on Friday at age of 71 the company said in a regulatory filing Dr SB Ravi Pandit was the Chairman and CoFounder of the KampP Group and played a major role in building KPIT Technologies into a global mobility technology company focused on automotive software and engineering solutionsUnder his leadership KPIT Technologies expanded its presence across 15 countries providing softwaredefined mobility solutions for the automotive sector including autonomous driving electrification and clean energy technologiesApart from his corporate leadership Pandit was actively associated with several public policy sustainability and social initiatives He cofounded institutions such as Pune International Centre and Janwani and supported policy research initiatives through the Centre for Sustainable Development at the Gokhale Institute of Politics and Economics GIPEPandit has represented Indian industry on various national platforms including as President of the Mahratta Chamber of Commerce Industries and Agriculture MCCIA and contributed to multiple committees of the Confederation of Indian Industry CIIKPIT Technologies shares were trading 137 per cent higher at Rs 73250 apiece on the BSE on Friday The stock has touched a 52week high of Rs 1433 and a 52week low of Rs 625 on the exchangeEarlier this week the company reported a 33 per cent yearonyear fall in consolidated net profit to Rs 163 crore for the March quarter compared to Rs 245 crore in the corresponding period last yearDespite the decline in profit the company posted a 12 per cent increase in revenue from operations to Rs 1711 crore in Q4 FY26 against Rs 1528 crore a year earlier IANS https://dailyworld.in/business/kpit-technologies-founder-ravi-pandit-passes-away-at-71-672906.html Fri, 08 May 2026 11:30:00 +0530 https://dailyworld.in/business/economists-dont-expect-rbi-to-exhibit-any-urgency-to-tighten-policy-rate-672915.html New Delhi May 8 IANS Economists on Friday said they do not expect the Reserve Bank of India RBI monetary policy committee to exhibit any urgency to tighten policy as yet amid fastevolving geopolitical situationnbspRBI Governor Sanjay Malhotra said last month that Central Bank is closely monitoring the fallout from the West Asia conflict and will not make firm commitments on the future path of policy ratesHe signalled that the central bank was in no hurry to move on rates We are in a waitandwatch mode he saidAccording to Radhika Rao Senior Economist and Executive Director DBS Bank Indias April inflation is expected to rise to 39 per cent YoY from 34 per cent in the previous month edging closer to the midpoint of the target range versus a benign 21 per cent in FY26nbspFood inflation is likely to have edged up towards 45 per cent from 37 per cent reversing last years weak momentum driven by selected perishables such as tomatoes and eggs along with cereals and edible oils and further exacerbated by untimely rains in some regionsnbspCore inflation however is expected to remain stable and modest at 34 per cent helped by a pullback in precious metal prices Signs of an updrift should also be captured in transport inflation due to ATF prices and services in the restaurant and hospitality sector commercial cooking gas price adjustments said RaonbspThe broader impact of high global oil prices is yet to percolate through retail inflation as pump fuel prices remain unchanged Markets will also monitor El Nino developments and their impact on monsoon strengthnbspMeanwhile the jump in imported costs on account of elevated commodity prices and a weak rupee is likely to be more apparent in the WPI gauge which had already outpaced retail inflation in March and is expected to extend the uptrend in April as well said the economistIn its April meeting the RBI kept repo rate unchanged at 525 per cent with a neutral stance Assocham had appreciated the calibrated step aimed at strengthening stability in the macroeconomic environment adding that it helps sustain growth momentum and ensure price stabilityMadan Sabnavis Chief Economist Bank of Baroda indicated dimmed likelihood of any further rate cuts as the RBI has flagged El Nino as a risk to inflation too and projected a GDP growth at 69 per cent and inflation at 46 per centIANS https://dailyworld.in/business/economists-dont-expect-rbi-to-exhibit-any-urgency-to-tighten-policy-rate-672915.html Fri, 08 May 2026 12:23:00 +0530 https://dailyworld.in/business/maiden-flight-trial-of-tactical-advanced-range-augmentation-weapon-conducted-govt-672918.html New Delhi May 8 IANS Defence Research and Development Organisation DRDO and the Indian Air Force IAF have successfully conducted the maiden flighttrial of Tactical Advanced Range Augmentation TARA weapon off the coast of Odisha it was announced on FridaynbspTARA the modular range extension kit is Indias first indigenous glide weapon system to convert unguided warheads into precision guided weapons according to a Defence Ministry statementDefence Minister Rajnath Singh congratulated DRDO IAF DcPP and the industry for the maiden flighttrial describing it as a significant development in advancing Indias indigenous defence capabilitiesTARA has been designed and developed by Research Centre Imarat RCI Hyderabad along with other DRDO laboratories to enhance the lethality and accuracy of a lowcost weapon to neutralise groundbased targetsnbspIt is the first glide weapon to utilise stateoftheart lowcost systems The development of the kit has been undertaken with Development cum Production Partners DcPP and other Indian industries which have already started the production activityDr Samir V Kamat Secretary Department of Defence RampampD and Chairman of DRDO also congratulated the teams associated with the successful flighttrialMeanwhile Rajnath Singh said this week that the government has placed defence research at the centre of its priorities and the Defence Research and Development Organisation DRDO has already transferred 2200 technologies to various industriesAddressing defence personnel industry captains innovators and startups at the inaugural session of the threeday North Tech Symposium organised here by the Indian Armys Northern and Central Commands and Society of Indian Defence Manufacturers the minister underscored the importance of sustained focus on research and cultivating the element of surprise to stay futureready in the present era of intense technological revolutionHe pointed out that 25 per cent of the defence RampampD budget has been allocated to the industry academia and startups and to date these entities have already utilised over Rs 4500 crore of the budgetIANS https://dailyworld.in/business/maiden-flight-trial-of-tactical-advanced-range-augmentation-weapon-conducted-govt-672918.html Fri, 08 May 2026 13:00:00 +0530 https://dailyworld.in/business/gold-silver-rally-up-to-1-pc-as-west-asia-tensions-escalate-672926.html Mumbai May 8 Gold and silver prices traded higher on Friday amid renewed geopolitical tensions between the US and Iran with precious metals surging up to 1 per cent On the Multi Commodity Exchange MCX gold futures June 5 opened at Rs 152672 per 10 grams up Rs 411 from the previous close of Rs 152261At around 1220 pm the yellow metal was trading Rs 592 or 038 per cent higher at Rs 152853 per 10 grams During the session so far it touched an intraday high of Rs 153103 rising Rs 842 or 055 per centMeanwhile silver futures July 3 opened at Rs 259999 per kg against the previous close of Rs 258540 a gain of Rs 1459 or 056 per centThe white metal was trading Rs 3126 or 121 per cent higher at Rs 261666 per kg Silver touched an intraday high of Rs 262723 up Rs 4183 or 161 per centThe commodity market experts said MCX gold continues to show improving momentum after opening firmly above the Rs 152000 levelAnalysts noted that a sustained move above Rs 153000 could strengthen bullish sentiment and push prices towards the Rs 155000âRs 156000 range Immediate support for gold is seen between Rs 152000 and Rs 151600 with stronger buying support emerging near Rs 150000 levelsFor silver analysts said prices remained firm after opening with a gapup above the Rs 260000 mark A decisive breakout above the Rs 264000âRs 266000 resistance zone could extend the rally towards Rs 272000âRs 275000 levels while support is placed around Rs 256000Precious metals also witnessed gains in international markets COMEX gold was trading 028 per cent higher at 4725 per ounce while COMEX silver rose 017 per cent to 8030 per ounceThe rally in precious metals followed renewed tensions in West Asia after Iran accused the United States of violating the monthlong ceasefire agreement while Washington defended its actions as retaliatory following alleged attacks on American naval vessels in the Strait on ThursdayIranâs military claimed that US forces struck an Iranian oil tanker another vessel and civilian locations in the Strait as well as on the Iranian mainlandMeanwhile US President Donald Trump said the ceasefire remained in effect and that Washington was awaiting Tehranâs response to its latest peace proposalMoreover Brent crude rose 282 per cent to 10289 per barrel while US West Texas Intermediate WTI crude gained 4 per cent to 9864 per barrel IANS https://dailyworld.in/business/gold-silver-rally-up-to-1-pc-as-west-asia-tensions-escalate-672926.html Fri, 08 May 2026 13:44:00 +0530 https://dailyworld.in/business/top-court-confirms-2-year-prison-term-for-hankook-amp-company-chairman-672933.html Seoul May 8 The Supreme Court on Friday upheld a twoyear prison sentence for Hankook amp Company Chairman Cho Hyunbum for misappropriating and embezzling company funds The top court confirmed an appellate court ruling that found Cho guilty of breach of trust and embezzling about 2 billion won US136 million dismissing appeals by both Cho and the prosecution reports Yonhap news agencyThe appellate court had ruled that Cho used corporate cards for personal use made the company chauffer a personal aide to his wife and bought vehicles under the name of affiliate companiesProsecutors had accused Cho of misappropriating and embezzling funds in the range of 20 billion wonThe appellate court had reduced Chos prison sentence from three years after overturning a lower courts guilty verdict on charges of lending 5 billion won from MKT an affiliate company to an auto parts company despite being aware of its poor financial statusMeanwhile South Korean stocks extended their winning streak to a fourth session on Friday reversing an earlier loss amid renewed Middle East tensions The local currency dropped sharply against the US dollarAfter opening 182 percent lower the benchmark Korea Composite Stock Price Index KOSPI finished at a fresh high of 7498 points up 795 points or 011 percentTrade volume was heavy at 5183 million shares worth 40 trillion won US272 billion with losers outnumbering winners 500 to 367Institutions and individuals scooped up a net 15 trillion won and 4 trillion won respectively nearly offsetting foreign net selling worth 56 trillion wonThe index had been on a recordbreaking rally over the recent three sessions driven by strong gains in chips related to artificial intelligence AI and optimism for a USIran peace deal in the Middle East IANS https://dailyworld.in/business/top-court-confirms-2-year-prison-term-for-hankook-amp-company-chairman-672933.html Fri, 08 May 2026 14:22:00 +0530 https://dailyworld.in/business/adobe-expands-india-footprint-opens-new-office-672945.html New Delhi May 8 USbased software major Adobe on Friday opened a new office in Noida as the global technology company continues to expand its presence in India and deepen its focus on artificial intelligencedriven innovation Located in Sector 129 Noida the new facility is Adobes seventh office in India and its third in Uttar PradeshThe campus currently houses more than 700 employees across engineering and customerfacing functions according to the companyAs the world is transformed by AI and agentic technologies Adobe is at the forefront of reimagining innovation and creativity The opening of our new Noida office marks an important milestone in our continued focus on driving innovation from India said Abhigyan Modi Country Manager Adobe India and Senior Vice President Document CloudThe office has been designed as a technologyenabled collaborative workspace aimed at fostering innovation cocreation and employee engagement in the AI eraSwati Rustagi Head of Employee Experience Adobe India said the space has been built to help teams collaborate more effectively in a rapidly evolving technology landscapeThe Noida campus is IGBC Platinumcertified and incorporates sustainable building practices energyefficient systems and environmentally responsible infrastructureAdobe entered India in 1997 as an engineering research and development centre and has since grown significantlyThe company currently employs more than 8000 people in the nation that largest workforce outside the United States and India accounts for more than onethird of Adobes global innovation outputOn the talent development front Adobe earlier this year announced free access to tools such as Firefly Photoshop and Acrobat for students at accredited institutions across India as part of its push to build an AIready workforce IANS https://dailyworld.in/business/adobe-expands-india-footprint-opens-new-office-672945.html Fri, 08 May 2026 15:48:00 +0530 https://dailyworld.in/business/sbi-q4-profit-rises-56-pc-to-rs-19-684-crore-fy26-earnings-cross-rs-80-000-crore-672948.html Mumbai May 8 State Bank of India on Friday reported a modest 11 per cent yearonyear YoY rise in consolidated net profit for the fourth quarter Q4 of FY26 aided by steady growth in advances and deposits Indiaâs largest lender posted a net profit of Rs 201 6130 crore for the JanuaryMarch quarter compared to Rs 1994139 crore in the corresponding period previous financial year Q4 FY25 according to its stock exchange filingHowever the lenderâs standalone net profit jumped 56 per cent yearonyear for the fourth quarterThe standalone net profit of the firm was Rs 1968375 crore compared to Rs 1864259 crore in the corresponding period previous financial yearOn a sequential basis however profit declined 64 per cent from Rs 2102815 crore reported in the December quarter Q3 FY26For the full financial year FY26 SBI reported a nearly 13 per cent increase in profit at Rs 8003201 crore up from Rs 7090063 crore in FY25The bankâs operating profit during the quarter fell 1145 per cent yearonyear YoY and 157 per cent quarteronquarter QoQ to Rs 27704 croreNet interest income NII rose 413 per cent from a year ago to Rs 44380 crore though it slipped 135 per cent sequentially as per its filingSBIâs domestic net interest margin NIM moderated to 293 per cent declining by 21 basis points yearonyear and 18 basis points from the previous quarterAsset quality improved further during the quarter Gross nonperforming assets NPAs declined 446 per cent yearonyear to Rs 73452 crore helping the gross NPA ratio improve to 149 per cent from 182 per cent a year earlierNet NPA ratio also improved to 039 per cent compared to 047 per cent in the yearago quarter despite a marginal sequential increase in net NPAsThe shares of the company were trading at Rs 102980 down by Rs 6220 or 570 per cent during the lastleg session IANS https://dailyworld.in/business/sbi-q4-profit-rises-56-pc-to-rs-19-684-crore-fy26-earnings-cross-rs-80-000-crore-672948.html Fri, 08 May 2026 15:52:00 +0530 https://dailyworld.in/business/cera-sanitarywares-q4-net-profit-falls-10-pc-board-recommends-rs-75-dividend-672953.html Mumbai May 8 Cera Sanitaryware Limited on Friday reported a 97 per cent yearonyear decline in its fourthquarter Q4 FY26 profitability The Gujaratbased companyâs consolidated net profit for the March quarter fell to Rs 773 crore compared to Rs 856 crore in the corresponding period previous financial year Q4 FY25 according to its stock exchange filingRevenue from operations however increased 114 per cent to Rs 6438 crore during the quarter up from Rs 578 crore a year earlierOperating performance remained under pressure as earnings before interest tax depreciation and amortisation EBITDA declined 73 per cent to Rs 979 crore from Rs 1056 crore in the yearago periodEBITDA margin contracted sharply to 152 per cent from 183 per cent last fiscal as per its regulatory filingThe sanitaryware maker posted weaker margins and lower operating profit compared to the yearago quarter amid rising cost pressuresAlongside its earnings announcement the companyâs board of directors recommended a dividend of Rs 75 per equity share of face value Rs 5 each for the financial year 202526Subject to shareholder approval at the annual general meeting the dividend will be paid within 30 days of declarationThe company also informed exchanges that its 28th annual general meeting is scheduled to be held on July 23 2026Shares of Cera Sanitaryware Limitedâ  pared early gains after the earnings announcement but later recoveredThe stock was trading 21 per cent higher at Rs 55715 The stock has gained nearly 10 per cent over the past one month and has turned positive on a yeartodate YTD basisThe Gujaratheadquartered sanitaryware manufacturer was established in 1980 in Kadi GujaratIt is an Indian manufacturer of sanitaryware faucets and bath wellness products Known for innovation like watersaving twinflush toilets and robotic manufacturing Cera serves premium and mass markets via brands Senator CERA Luxe and CERA IANS https://dailyworld.in/business/cera-sanitarywares-q4-net-profit-falls-10-pc-board-recommends-rs-75-dividend-672953.html Fri, 08 May 2026 16:38:00 +0530 https://dailyworld.in/business/sensex-nifty-end-lower-as-us-iran-tensions-weigh-on-market-sentiment-672979.html Mumbai May 8 Indian benchmark indices ended lower on Friday as renewed tensions between the United States and Iran dampened investor sentiment and triggered caution across sectors The selloff was largely led by banking stocks while gains in IT shares helped limit the downsideThe Nifty ended 15050 points or 062 per cent down at 2417615 and the Sensex ended 51633 points or 066 per cent down at 7732819Commenting on Nifty technical outlook experts said that the 24250â24300 level continues to act as an immediate resistance zone and a sustained breakout above this mark could strengthen momentum further toward the broader hurdle near the 24400â24500 levels âOn the downside the 24100â24000 region remains a crucial support area which will be important to maintain the current market structureâ an analyst statedAmong the top gainers on the Nifty index were Titan Apollo Hospitals Enterprise and Asian Paints which managed to buck the broader market weaknessHowever SBI Coal India HDFC Bank Axis Bank and Bajaj Finance were among top laggardsOn the sectoral front banking counters witnessed heavy pressure The Nifty PSU Bank Nifty Private Bank and Nifty Bank indices emerged as the worstperforming sectoral gauges during the session as investors trimmed exposure to financial stocks amid rising global uncertaintyIn contrast the Nifty IT index outperformed other sectors supported by defensive buying and expectations of stable demand for technology servicesMeanwhile oil prices moved higher as hopes for a nearterm resolution to the conflict in West Asia fadedBrent crude futures rose 066 per cent to 10072 per barrel on the Intercontinental Exchange adding to concerns over inflation and potential pressure on economies dependent on oil imports including IndiaâRenewed hostilities between US and Iranian forces near the Strait of Hormuz triggered a sharp unwinding of optimism across global markets and risk assets after Iran claimed the US had violated the ceasefire agreementâ an expert stated IANS https://dailyworld.in/business/sensex-nifty-end-lower-as-us-iran-tensions-weigh-on-market-sentiment-672979.html Fri, 08 May 2026 17:47:00 +0530 https://dailyworld.in/business/ashok-kumar-lahiri-takes-charge-as-niti-aayog-vice-chairman-672980.html New Delhi May 8 Ashok Kumar Lahiri has taken charge as Vice Chairman of NITI Aayog the government think tank said on Friday Lahiri brings extensive experience in economic policy and public finance having previously served as Chief Economic Adviser to the government and as a member of the 15th Finance CommissionAccording to NITI Aayog his experience across academia public institutions and international organisations will further strengthen its efforts towards evidencebased policymaking and economic transformationThe think tank said it looks forward to his contributions in advancing Indiaâs development agenda and supporting strategic policy initiatives across sectorsLahiri a BJP MLA from West Bengal and noted economist had earlier been appointed to the post following approval from Prime Minister Narendra ModiHe succeeds Suman Bery who served as Vice Chairman since May 2022Earlier in April PM Modi said that NITI Aayog has emerged as a vital pillar in Indiaâs policymaking architecture strengthening cooperative federalism advancing reforms and improving âEase of Livingâ He congratulated Lahiri and other newly appointed fulltime members saying the reconstituted NITI Aayog would serve as a dynamic platform for innovation and longterm strategic thinking across sectorsâMy 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 Wishing all of them a productive and impactful tenure ahead PM Modi saidPM Modi also met Lahiri and congratulated him on his appointment expressing confidence that his experience in economics and public policy would strengthen Indiaâs reform journey and contribute to the vision of âViksit BharatâLahiri who represents Balurghat in the West Bengal Assembly has had a distinguished career spanning academia policymaking and financial institutionsMoreover he has served as Chief Economic Adviser worked with institutions such as the Delhi School of Economics Asian Development Bank Bandhan Bank and the National Institute of Public Finance and Policy and has also been associated with the World Bank and International Monetary Fund IANS https://dailyworld.in/business/ashok-kumar-lahiri-takes-charge-as-niti-aayog-vice-chairman-672980.html Fri, 08 May 2026 17:47:00 +0530 https://dailyworld.in/business/hyundai-motor-india-q4-profit-falls-22-pc-to-rs-1-2556-crore-672981.html Mumbai May 8 Hyundai Motor India LImited on Friday reported a 222 per cent yearonyear YoY decline in consolidated net profit for the fourth quarter Q4 of FY26 at Rs 12556 crore compared to Rs 16143 crore in the corresponding quarter previous year Q4 FY25 The automakerâs revenue from operations however increased 54 per cent to Rs 1891615 crore during the JanuaryMarch quarter up from Rs 1794028 crore in the yearago period according to its stock exchange filingThe company said its expenses rose at a faster pace than revenue during the quarterTotal expenses climbed 10 per cent yearonyear to Rs 175717 crore mainly due to changes in inventories of finished goods workinprogress and stockintradeOperational performance also remained under pressure with EBITDA falling 224 per cent to Rs 1966 crore from Rs 25327 crore a year earlierEBITDA margin narrowed sharply to 104 per cent in the fourth quarter from 141 per cent in the same period last fiscalDespite margin pressures Hyundai Motor India highlighted strong sales momentum during the quarterThe company said it achieved its highestever quarterly domestic sales in Q4 FY26 with wholesale volumes rising 87 per cent yearonyear supported by GST 20 tailwinds and various product interventionsThe automaker also reported its highestever quarterly rural penetration of 25 per cent reflecting deeper market reach across rural IndiaIts CNG portfolio contribution touched a record 18 per cent during the quarter driven by growing consumer adoption and the companyâs expansion into the commercial mobility segmentExports also remained strong despite geopolitical uncertainties Hyundai Motor India said exports grew 94 per cent yearonyear during the fourth quarter while fullyear FY26 exports rose 164 per centLooking ahead the company said it expects domestic as well as export volume growth of 810 per cent in FY27 aided by new product actions expansion of its network and market diversification initiativesTarun Garg Managing Director amp Chief Executive Officer said âAs we celebrate 30 years of operations in India we take pride in building a strong foundation anchored in customer trust innovation and consistent executionâFY26 was a year where we demonstrated our ability to navigate a challenging environment while capitalising on emerging opportunities supported by GST 20 reforms strategic product interventions strong export volumes and our continued focus on âQuality of Growthâ Garg added IANS https://dailyworld.in/business/hyundai-motor-india-q4-profit-falls-22-pc-to-rs-1-2556-crore-672981.html Fri, 08 May 2026 17:53:00 +0530 https://dailyworld.in/business/swiggys-fy26-net-loss-rises-33-pc-to-rs-4-154-crore-672996.html New Delhi May 8 Quick commerce services provider Swiggy Ltd on Friday reported that its FY26 fullyear loss widened to Rs 4154 crore compared to Rs 3117 crore in the previous year However the company reported a narrowing of its net loss to Rs 800 crore for the quarter ended March 31 2026 compared to a loss of Rs 1081 crore in the same period last yearThe online food and grocery delivery platform posted a 45 per cent yearonyear rise in revenue from operations at Rs 6383 crore in Q4 FY26 up from Rs 4410 crore in the corresponding quarter of the previous fiscalMoreover the companyâs total income came in at Rs 6649 crore a 4674 per cent yearonyear increase from Rs 4531 crore in the same period last yearIn terms of expenses advertising and sales promotion expenses stood at Rs 1577 crore up 36 per cent yearonyear from Rs 1161 crore in the corresponding period in the previous yearSwiggy Managing Director and Group CEO Sriharsha Majety said the companyâs quick commerce arm Instamart is focusing on improving unit economics and strengthening operational efficiencyIn quick commerce the next phase will be defined by anticipating consumer needs not merely fulfilling them Unit economics continue to improve quarter on quarter and we remain on track for contribution margin breakeven in line with our guidance Majety saidMoreover Instamart reported a 688 per cent yearonyear growth in gross order value GOV at Rs 7881 crore during the quarterIn the food delivery segment gross order value GOV stood at Rs 9005 crore while orders reached 183 millionSwiggy shares ended at Rs 28130 on the BSE on Friday up 068 per cent The stock has touched a 52week high of Rs 473 and a 52week low of Rs 25640 on the exchange IANS https://dailyworld.in/business/swiggys-fy26-net-loss-rises-33-pc-to-rs-4-154-crore-672996.html Fri, 08 May 2026 19:02:00 +0530 https://dailyworld.in/business/niti-aayog-launches-sdg-5-state-and-district-reports-to-drive-economic-empowerment-of-women-673009.html New Delhi May 8 IANS NITI Aayog in partnership with IIM Ahmedabad the Gates Foundation and the Gujarat government organised a workshop to launch State and District reports on Sustainable Development Goal 5 and to push for districtlevel action on gender equality an official statement said on FridaynbspThe technical sessions focused on strengthening SDG 5 monitoring and evidence systems womens economic empowerment and social empowerment of women the statement from NITI Aayog saidState and District reports on SDG 5 are policy briefs encouraging data for development to generate insights and monitor progress across time enabling more targeted interventions and budget alignment on gender equalityAnnapurna Devi Minister for Women and Child Development highlighted the importance of highquality data robust ecosystems with techenabled monitoring and timebound evaluations for dynamic policy makingDr Manisha Vakil Minister for Women and Child Development Social Justice and Empowerment Department Gujarat stressed the importance of implementation deepening convergence and targeted interventions that are responsive to local needs and realitiesnbspnbspThe technical sessions focused on strengthening evidencebased policymaking advancing womens economic empowerment and promoting communityled approaches for accelerating progress towards SDG 5Discussions highlighted the need for stronger genderdisaggregated data systems districtlevel monitoring frameworks genderresponsive budgeting skilling financial inclusion care economy support and improved access to quality employment and enterprise opportunitiesDeliberations also emphasised behavioural interventions and grassroots institutional mechanisms to address gender norms and enhance womens participation in social and economic decisionmakingDr M Srinivas Member NITI Aayog emphasised that the report will help identify achievements and priority areas at the district level and support progress towards the 2030 targetsnbspOverall the workshop reinforced the importance of moving from broad policy approaches to more granular districtfocused strategies for advancing gender equalityThe discussions demonstrated how the SDG 5 State and District analysis can serve as a critical tool for supporting data and evidenceled decisionmaking enabling States and districts to understand local challenges better and design contextspecific interventionsThe workshop brought together senior officials from states and Union Territories representatives of central ministries UN and international agencies including UNDP UNICEF UNWOMEN and the World BankNGOs and experts also attended the event to share insights to drive evidencebased action at the district levelIANS https://dailyworld.in/business/niti-aayog-launches-sdg-5-state-and-district-reports-to-drive-economic-empowerment-of-women-673009.html Fri, 08 May 2026 19:42:00 +0530 https://dailyworld.in/business/mphasis-moves-us-court-against-coforge-over-executive-hiring-data-misuse-claims-672778.html New Delhi May 7 IT services provider Mphasis has approached a US court alleging that rival Coforge violated contractual obligations by hiring its former senior executives and gaining access to sensitive clientrelated information according to multiple reports According to reports legal documents filed in March show that Mphasis has sought an injunction restraining Coforge from deploying two former Mphasis executives on projects linked to Charles Schwab a client serviced by both firmsThe company has also requested the court to prevent any use of confidential business information allegedly obtained through those hiresMoreover the lawsuit also names former Mphasis Vice President Brijesh Khergamker and seeks to prevent him from working on Charles Schwab outsourcing operations through Coforge for a period of one year Mphasis has argued that such employment breaches the terms agreed upon in his earlier contract with the companyMphasis has further alleged that Coforge secured an unfair business advantage by recruiting multiple senior employees who had access to strategic and clientspecific informationBesides injunctive relief the company has sought monetary compensation along with legal costs and attorney feesAdditionally Coforge denied all allegations and intends to vigorously defend itself and its employee in the matter while also evaluating potential counterclaims according to reportsNotably similar disputes have surfaced in recent years across the IT industry In 2024 Infosys filed a counterclaim against Cognizant alleging anticompetitive conduct and executive poachingEarlier in 2023 Wipro initiated legal proceedings against former CFO Jatin Dalal after he joined Cognizant citing alleged violations of contractual commitments IANS https://dailyworld.in/business/mphasis-moves-us-court-against-coforge-over-executive-hiring-data-misuse-claims-672778.html Thu, 07 May 2026 12:55:00 +0530 https://dailyworld.in/business/niti-aayog-provides-detailed-policy-roadmap-for-indias-school-education-system-672807.html New Delhi May 7 NITI Aayog has released a policy report that presents a comprehensive decadelong analysis of Indias school education system across key parameters such as access and enrolment infrastructure equity and inclusion and learning outcomes it was announced on Thursday NITI Aayog CEO Nidhi Chhibber released the report titled âSchool Education System in India Temporal Analysis and Policy Roadmap for Quality EnhancementâThe report provides a detailed policy roadmap comprising 13 comprehensive recommendations The 8 systemic recommendations encompass reforming school structure through composite schools and evidencebased rationalisation strengthening school infrastructure undertaking governance reform and administrative capacity building institutionalising a wholeofsociety approach through State and District Task Forces on School Quality strengthening School Management Committees elevating teacher deployment and professional development expanding digital and broadcastbased learning and promoting equity and inclusion The 5 academic recommendations focus on transforming pedagogy assessment and foundational learning emphasising holistic education and student wellbeing reimagining vocational education and skill integration strengthening ECCE and integrating AI for pedagogical innovation according to a NITI Aayog statementThe report draws on secondary data from UDISE 202425 PARAKH Rashtriya Sarvekshan 2024 NAS 2017 and 2021 and ASER 2024 and is informed by the National Workshop on Quality School Education convened by NITI Aayog in February 2025 which brought together over 150 participantsIndias school education system today spans 1471 lakh schools serving over 2469 crore students making it the largest system in the world The report presents a comprehensive analysis across key dimensions of access infrastructure equity inclusion digital integration and learning outcomes for all 36 States and UTs Through heat maps and other visual graphics the temporal analysis presented in the report highlights substantial advancements in school infrastructure particularly in the provision of electricity functional sanitation facilities and inclusive infrastructure alongside a significant expansion of the digital learning ecosystem through improved access to computers internet connectivity and smart classrooms across schools said the statement âThe study also points towards encouraging gains in equity and inclusion especially in girlsâ participation and the improved enrolment of SC and ST students across educational stagesâ it added The report provides 33 implementation pathways for the recommendations each structured across short medium and longterm horizons with clearly identified actors responsible at the Central State and local levels IANS https://dailyworld.in/business/niti-aayog-provides-detailed-policy-roadmap-for-indias-school-education-system-672807.html Thu, 07 May 2026 14:54:00 +0530 https://dailyworld.in/business/s-korea-calls-for-global-community-to-respond-to-spread-of-trade-restrictions-at-wto-meet-672811.html Seoul May 7 South Korea has called on the international community to jointly respond to the recent spread of trade restrictive measures by major economies in a highlevel meeting of World Trade Organization WTO member nations the trade ministry said on Thursday Kwon Hyejin director general for trade negotiations at the Ministry of Trade Industry and Resources attended the WTOs General Council meeting held for two days beginning Wednesday local time in Geneva as the chief representative of South Korea according to her office reports Yonhap news agencyIn the meeting Kwan urged WTO member countries to refrain from imposing trade protectionist measures such as tariff hikes and import restrictions saying such moves can create a vicious cycle of retaliatory trade measures among countries the ministry saidShe claimed global trade issues such as the oversupply of steel and other goods should be addressed in a way that finds fundamental solutions it added The ministry said Kwon also held bilateral meetings with representatives from Britain Japan Turkey and other nations to discuss the steel safeguard measures recently adopted by the European Union and Britain as well as other pending trade issues Amid the spread of global trade protectionism we actively raised the issue of tariffrate quotas affecting South Koreas steel industry through both multilateral and bilateral channels Kwon said in a press release vowing Seouls continued role in the international communitys efforts to restore the WTObased multilateral trading systemMeanwhile South Korea and the European Union established a special joint committee to discuss emerging trade and economic issues including the EUs push for industrial regulations Seouls trade ministry saidThe KoreaEU Specialized Committee on Emerging Trade and Economic Issues held its inaugural meeting in Seoul jointly led by South Korean Vice Trade Minister Park Jungsung and the EUs director general for trade and economic security Sabine WeyandThe vice trade ministerial committee was newly established to help the two sides jointly respond to recent shifts in the global trade environment including global supply chain restructuring and the rise of trade protectionism according to the Ministry of Trade Industry and Resources IANS https://dailyworld.in/business/s-korea-calls-for-global-community-to-respond-to-spread-of-trade-restrictions-at-wto-meet-672811.html Thu, 07 May 2026 15:42:00 +0530 https://dailyworld.in/business/great-purge-of-2026-instagram-crackdown-on-fake-accounts-672814.html New Delhi May 7 Metaowned social media platform Instagram has reportedly removed millions of bot and inactive accounts in a major cleanup drive in 2026 triggering sharp drops in follower counts for several celebrities influencers and brands across the platform According to reports shared by PopBase the purge impacted a number of highprofile users including US influencer and entrepreneur Kylie Jenner who reportedly lost more than 14 million followers following the action Several other creators and public figures also witnessed sudden declines in their follower numbersInstagram routinely carries out such cleanups to improve authenticity on the platform and remove fake engagement generated through bot accounts Automated bot profiles are often used to inflate likes followers comments and overall engagement metrics on social mediaResponding to the reports a Meta spokesperson said the action was part of the companyâs standard process to remove inactive accounts and clarified that genuine active users were not affectedâAs part of our routine process to remove inactive accounts some Instagram accounts may have noticed updates to their follower counts Active followers remain unaffected and any restored suspended account will be included in the count again after verificationâ the spokesperson saidThe reported cleanup quickly sparked reactions across social media platforms with many users referring to it as the âGreat Purge of 2026â Users shared screenshots showing steep declines in follower counts and engagement numbers overnightOne user on X joked that even Instagramâs own official account was not spared in the purge claiming it lost nearly 9 million followers during the cleanup driveâEven Instagrams own official account reportedly lost over 9 million followers during the cleanup Nobody was safeâ the user wrote IANS https://dailyworld.in/business/great-purge-of-2026-instagram-crackdown-on-fake-accounts-672814.html Thu, 07 May 2026 15:45:00 +0530 https://dailyworld.in/business/china-linked-refurbished-electronics-fuel-bangladesh-e-waste-crisis-report-672815.html New Delhi May 7 Bangladesh witnessing a growing electronic waste crisis as rising imports of lowcost and refurbished electronics largely linked to China continue to overwhelm the countryâs weak waste management and regulatory systems a report has said According to a report by Mongabay despite the introduction of the Hazardous Waste EWaste Management Rules in 2021 illegal imports weak enforcement and an expanding informal recycling sector are turning Bangladesh into a potential dumping ground for global electronic waste environmental researchers warnedHighlighting a recent study the report said nearly 14985 tonnes of ewaste were illegally imported into the country between 2022 and 2024 while exports of ewaste components stood at only 4040 metric tonnes effectively making Bangladesh a net importer of electronic wasteThe study estimated the value of imported ewaste materials during the period at around 700000 though researchers cautioned that the actual volume could be significantly higher due to false declarations and underreportingMoreover Bangladeshâs dependence on Chinese electronics imports has sharply increased in recent yearsIn addition Bangladesh Bank BB data showed that the country spent more than 247 billion on imports of electrical appliances and accessories in fiscal year 202425 including nearly 18 billion worth of products from ChinaEnvironmental experts cited in the report said a substantial share of imported refurbished laptops smartphones and spare parts entering local markets have short operational lifespans and quickly become wasteMany imported devices are repaired repackaged and sold as lowcost alternatives after being rejected or returned abroad said Dr Shahriar Hossain senior technical adviser at the Environment and Social Development Organization ESDOThe expert warned that Bangladesh lacks adequate systems to safely manage the growing volume of discarded electronics batteries and solar equipmentThe report highlighted major gaps in enforcement and coordination among customs authorities the Department of Environment and trade regulators allowing illegal imports to continue despite existing regulationsAccording to the report researchers warned that informal recycling operations often involving unsafe dismantling practices and child labour pose serious risks to soil water and public health through exposure to toxic substances such as lead and cadmium IANS https://dailyworld.in/business/china-linked-refurbished-electronics-fuel-bangladesh-e-waste-crisis-report-672815.html Thu, 07 May 2026 15:49:00 +0530 https://dailyworld.in/business/bharat-forge-clocks-17-pc-drop-in-q4-profit-to-rs-2334-crore-672816.html Mumbai May 7 Baba Kalyani run Bharat Forgeâ  on Thursday reported a 174 per cent yearonyear YoY decline in its consolidated net profit for the fourth quarter of financial year 202526 Q4 FY26 The forged and machined components manufacturer posted a consolidated profit after tax PAT of Rs 23344 crore for the JanuaryMarch quarter compared to Rs 28262 crore in the corresponding quarter of the previous financial year Q4 FY25 according to its stock exchange filingRevenue from operations rose 1753 per cent to Rs 452804 crore in Q4 FY26 against Rs 38526 crore reported in the yearago period driven by growth across key business segmentsAt the operational level earnings before interest taxes depreciation and amortisation EBITDA increased 1421 per cent to Rs 778 crore during the quarter under review compared to Rs 681 crore in Q4 FY25EBITDA margin improved marginally to 1781 per cent from 1768 per cent a year earlier as per its regulatory filingThe companyâs board has recommended a final dividend of Rs 650 per equity share with a face value of Rs 2 each for FY26 subject to shareholdersâ approval at the upcoming annual general meeting If approved the dividend will be paid on or after August 14 2026Commenting on the performance Chairman and Managing Director Baba Kalyani said the company secured new orders worth Rs 4814 crore during FY26 including defence contracts worth Rs 2816 croreâWe have initiated the restructuring of the steel business of CDP Bharat Forge and we expect this process to conclude by end of CY27â Kalyani statedâThe management is pursuing various alternative business opportunities in Europe to leverage its scaled down manufacturing footprintâ he addedFollowing the earnings announcement shares of Bharat Forge rose 433 per cent to Rs 1954 apiece on the National Stock Exchange NSE at around 242 pm IANS https://dailyworld.in/business/bharat-forge-clocks-17-pc-drop-in-q4-profit-to-rs-2334-crore-672816.html Thu, 07 May 2026 16:36:00 +0530 https://dailyworld.in/business/citi-downgrades-vedanta-to-sell-cuts-target-price-to-rs-265-on-zinc-concerns-672819.html Mumbai May 7 Shares of Vedanta Limitedâ  dropped 335 per cent on Thursday after brokerage firm Citi Research issued a sharp double downgrade on the stock turning bearish on the metals major amid concerns over zinc prices and changes in its dividend policy Citi downgraded Vedanta from âbuyâ to âsellâ and slashed its target price to Rs 265 signaling limited upside from current levelsThe brokerage cited a weak outlook on zinc along with uncertainty surrounding the companyâs capital allocation strategy as the primary reasons behind its negative stanceFollowing the development the shares were trading lower at Rs 30580 down by Rs 1060 or 335 per cent during the intraday trading sessionAccording to Citi Vedantaâs earnings profile remains heavily dependent on its zinc business which contributes more than 90 per cent of the companyâs attributable EBITDAThe brokerage warned that its bearish outlook on zinc prices leaves Vedanta vulnerable to any further softness in the metal market potentially impacting profitabilityThe brokerage also flagged concerns over the companyâs revised dividend frameworkVedanta is no longer tied to its earlier dividend distribution policy a move Citi believes creates uncertainty around future cash deployment and shareholder payoutsVedanta has historically been a preferred pick among incomefocused investors due to its strong dividend payoutsHowever Citi noted that the change in policy weakens one of the key pillars of the companyâs investment caseThe brokerage further stated that Vedanta appears fairly valued at current London Metal Exchange LME spot prices making the riskreward equation unattractive at existing levelsOn equity front the stock has delivered a positive return of Rs 2050 or 719 per cent in last five daysHowever in last on month investors clocked massive wealth erosion as shares were dropped by Rs 40745 or 5713 per centThe downward trend continued in last six months as it was down by Rs 20925 or 4063 per cent during the tenure IANS https://dailyworld.in/business/citi-downgrades-vedanta-to-sell-cuts-target-price-to-rs-265-on-zinc-concerns-672819.html Thu, 07 May 2026 16:42:00 +0530 https://dailyworld.in/business/whatsapp-announces-ai-upgrade-for-round-the-clock-sme-customer-support-in-india-672820.html New Delhi May 7 Metabacked WhatsApp on Thursday announced the launch of âBusiness AIâ in India bringing AIpowered customer support directly to the WhatsApp Business app to help small and medium enterprises SMEs manage customer engagement round the clock The feature is designed to enable eligible businesses to respond to customer queries 247 capture leads book appointments and drive sales without requiring additional tools or platformsIt can also be customised using a businessâs own information allowing automated responses to frequently asked questions and queries related to products services pricing discounts and shippingAccording to WhatsApp the AI tool will also be able to handle conversations in all native languages in India Starting soon it will additionally support payments within chats using UPIHowever businesses will retain full control and can take over conversations from the AI whenever needed the messaging platform saidOver the coming weeks Business AI will be rolled out to all eligible businesses on the WhatsApp Business app it addedHighlighting a study WhatsApp showed 91 per cent of online adults in India chat with a business every weekSpeaking on the launch Ravi Garg Director Business Messaging Meta India said SMEs often struggle to manage high volumes of customer queries with limited resources and AI can help address this gapSmall businesses are the backbone of Indias economy and we deeply understand the value of every customer conversation for them Managing high volumes of customer queries with limited resources remains one of the biggest challenges for small businesses With the introduction of Business AI on WhatsApp we are putting that power directly into the hands of small businesses Garg saidEligible businesses can activate the feature through the WhatsApp Business app by navigating to the Tools tab and selecting Your Business AI where they can follow guided steps for setup Additionally the AI can be trained using existing business profiles product catalogues and documents and businesses can modify or turn off the feature at any time IANS https://dailyworld.in/business/whatsapp-announces-ai-upgrade-for-round-the-clock-sme-customer-support-in-india-672820.html Thu, 07 May 2026 16:43:00 +0530 https://dailyworld.in/business/jgu-is-indias-first-institution-of-eminence-to-receive-data-science-council-of-america-accreditation-672822.html Sonipat May 7 OP Jindal Global University JGU has become the first Institution of Eminence in India to be accredited by the Data Science Council of America DASCA a globally recognised standards and accreditation body that establishes industryaligned benchmarks for educational programmes in data science artificial intelligence and analytics This recognition firmly positions JGU at the forefront of higher educations most consequential frontier the integration of artificial intelligence and data science into the academic ecosystem This accreditation has been awarded under the World Data Science amp AI Initiative WDSAI a global platform led by DASCA that supports universities in adopting internationally benchmarked standards WDSAI provides accreditation support curriculum alignment services and access to global certification pathways thereby ensuring that JGUs graduates emerge with skills that are not only academically rigorous but also industryready and futurefocusedSeven of JGUs flagship AI and Data Sciencerelated programmes have been successfully aligned with DASCA standards under the WDSAI framework The accredited programmes includeâ MSc in Artificial Intelligence amp Data Scienceâ BA in AI amp Lawâ BBA Hons Business Analyticsâ MDes AIpowered UXâ MBA in Business Analyticsâ MBA in Business and Lawâ MBA in AI for BusinessThe Founding Vice Chancellor of OP Jindal Global University Prof Dr C Raj Kumar said âThis is an exceptional recognition and what makes this achievement particularly distinctive is its breadth and flexibility The accreditation spans residential nonresidential and online delivery formats reflecting JGUs deep commitment to accessibility inclusion and meeting learners where they are It is valid through 2031 and provides an umbrella certification framework that will extend to any new data science and artificial intelligence programmes we develop during this periodâProf Padmanabha Ramanujam Dean of Academic Governance amp Student Life said âAt OP Jindal Global University our approach to data science and artificial intelligence is rooted in interdisciplinarity and realworld relevance The DASCA accreditation reflects our commitment to integrating technical expertise with critical thinking ethical reasoning and domainspecific knowledge We believe that the future of AI education lies in preparing learners not just to build intelligent systems but to understand their societal impact and apply them responsibly across sectorsThe Data Science Council of America DASCA is a global standards body that provides accreditation for academic institutions and certification for professionals in data science and AI It sets industryleading standards frameworks certifications and accreditation programmes to develop data analytics skills for students Its accreditation affirms curriculum quality faculty expertise and learning outcomes using a fully digital remotefirst process to align programmes with international industry benchmarks DASCA drives the World Data Science amp AI Initiative WDSAI to foster excellence in AI education and accredits university programmes affirming their quality against global standards It evaluates curriculum faculty and student learning outcomes to ensure programmes meet industry demands The DASCA Professional Certification Board DPCB and the Ethics Control Council ECC ensure the rigour and ethical standards of accredited programmes The Benefits of DASCA Accreditation ensure that academic programmes reflect current realworld data science requirements and confirm high standards in teaching and curriculum verified by industry experts JGU has emerged as the first Institution of Eminence to receive this distinction reinforcing its position as a pioneer in integrating global AI and data science standards into Indian higher education This is not simply an institutional recognition it is a signal to learners employers and the global academic community that JGU stands ready to prepare its students for the realities of an AIdriven world economyAs artificial intelligence reshapes industries economies and societies across the world JGU stands ready accredited benchmarked and globally aligned to prepare a generation of students who will lead this transformation IANS https://dailyworld.in/business/jgu-is-indias-first-institution-of-eminence-to-receive-data-science-council-of-america-accreditation-672822.html Thu, 07 May 2026 16:46:00 +0530 https://dailyworld.in/business/india-vietnam-partnership-to-improve-access-to-critical-inputs-export-growth-industry-672824.html New Delhi May 7 IANS Vietnam President To Lams visit to India elevated bilateral ties to an Enhanced Comprehensive Strategic Partnership and will improve Indias access to critical inputs generate substantial longterm benefits for exports investments and GDP growth the industry chamber PHDCCI said on ThursdaynbspRajeev Juneja President PHDCCI said that the bilateral partnership creates a stronger framework for supplychain resilience manufacturing cooperation digital connectivity and technology partnershipsThe new bilateral agreements align with Indias initiatives of Make in India Digital India pharmaceutical exports expansion semiconductor and electronics ecosystem development and diversification of critical mineral supply chains he addedCooperation in rare earths and critical minerals will strengthen Indias access to critical inputs required for electric vehicles semiconductors electronics renewable energy and defence manufacturing supporting supplychain security and advanced manufacturing growthRegulatory cooperation in pharmaceuticals will improve market access for Indian generic medicines and medical devices which already enjoy significant competitive advantageFurther technology cooperation in electronics semiconductors AI and IT services will strengthen Indias role in global digital value chainsAgricultural exports tourism aviation urban infrastructure and smart city development will also enjoy gains from the partnership generating employment growthThe outcomes of the visit reinforces Indias Act East Policy by expanding strategic engagement with Southeast Asian countriesEnhanced cooperation with Vietnam is expected to improve connectivity trade resilience and longterm industrial partnerships across critical sectors said Dr Ranjeet Mehta SG ampamp CEO PHDCCIThe new strategic partnership has set a bilateral trade target of 25 billion by 2030 and the Presidents visit produced multiple memoranda of understanding across sectors including rare earths digital payments pharmaceuticals electronics tourism culture urban development education and technology cooperationBoth sides will facilitate market access including for agricultural products such as Indian grapes and pomegranates as well as Vietnamese durians and pomelos a joint statement said after talks between Prime Minister Narendra Modi and Vietnamese President To LamVietnam affirmed its commitment to diversifying its supply sources and to importing more products from India to serve its domestic production and export needsBoth sides agreed to explore ways for a more conducive regulatory environment to facilitate ease of doing business for companies of both countries including in standards compliance certificationIANS https://dailyworld.in/business/india-vietnam-partnership-to-improve-access-to-critical-inputs-export-growth-industry-672824.html Thu, 07 May 2026 17:27:00 +0530 https://dailyworld.in/business/sensex-nifty-end-marginally-down-amid-mixed-sectoral-trends-672826.html Mumbai May 7 Indian benchmark indices ended largely flat on Thursday after trading in a narrow range throughout the session even as broader markets outperformed and auto stocks witnessed buying interest The Nifty slipped 430 points or 002 per cent to close at 2432665 while the Sensex declined 114 points or 015 per cent to settle at 7784452Commenting on technical outlook experts said that technically the 24400â24500 zone continues to act as an immediate resistance band and a sustained breakout above this range could revive momentum toward the 24600 levelsâOn the downside the 24100â24000 zone remains a key support area which is expected to provide stability in case of renewed selling pressureâ an analyst statedAmong the top drags on the Nifty were Hindustan Unilever Tata Consultancy Services and Titan Company which weighed on the frontline indicesDespite the muted performance in benchmark indices broader markets remained upbeat The Nifty MidCap index advanced 120 per cent while the Nifty SmallCap index gained 097 per centOn the sectoral front the Nifty Consumer Durable Nifty IT and Nifty FMCG indices underperformed whereas the Nifty Auto index emerged as the top sectoral gainer during the sessionâIn the near term markets will remain highly sensitive to headline risk with volatility contingent on developments out of the Gulf most critically Irans response to the US peace proposal and the potential reopening of the Strait of Hormuzâ an analyst statedMeanwhile global crude oil prices witnessed a sharp decline Brent crude futures dropped 274 per cent to 9850 per barrel after reports suggested that the US and Iran had reached an agreement aimed at ending the blockade paving the way for the gradual reopening of the Strait of HormuzRupee traded stronger near 9424 against the dollar gaining around 15 paise as improving sentiment around ongoing USâIran talks supported risk appetite IANS https://dailyworld.in/business/sensex-nifty-end-marginally-down-amid-mixed-sectoral-trends-672826.html Thu, 07 May 2026 17:41:00 +0530 https://dailyworld.in/business/indian-economy-growing-well-banking-sector-stable-despite-challenges-m-nagaraju-672837.html Mumbai May 7 Indias economy is growing well and the banking sector remains stable despite global and domestic challenges M Nagaraju Secretary of the Department of Financial Services DFS Ministry of Finance said on Thursday Speaking at the Indian Banks Associations IBA inaugural Summit on Risk Management held here Nagaraju said risk management in banks must be treated as a strategic responsibility and embedded across all functions of the banking systemDespite various challenges the economy is growing well and the banking sector is stable and performing well Risk management which is an important function of banks should be a strategic responsibility and should be embedded in all functions of banks according to himAdditionally the session was also addressed by Challa Sreenivasulu Setty Chairman of the Indian Banks Association IBA and State Bank of India and Gopal Murli Bhagat Deputy Chief Executive of the IBASetty noted that banking is fundamentally about managing intermediation risks adding that while emerging risks are growing in complexity banks must not lose sight of core operational risksBhagat described the risk summit as more than an annual gathering calling it a shared platform for insight and innovation to reimagine risk management across the banking and financial sectorMoreover the summit brought together over 200 participants including senior officials from public sector private foreign and cooperative banks as well as All India Financial Institutions AIFIs and industry expertsIn addition Nagaraju has released a commemorative essay book featuring the top 30 entries from over 650 submissions received nationwide from banking professionals and unveiled a survey report on risk management practicesHe commended banking professionals for their contributions saying their collective expertise would be pivotal in addressing future challenges in the financial sector IANS https://dailyworld.in/business/indian-economy-growing-well-banking-sector-stable-despite-challenges-m-nagaraju-672837.html Thu, 07 May 2026 18:49:00 +0530 https://dailyworld.in/business/incubators-are-key-pillar-of-successful-startup-ecosystem-niti-aayog-672740.html New Delhi May 7 Incubators are one of the key pillars of a successful startup ecosystem playing a vital role in nurturing and scaling innovative ideas said Deepak Bagla Mission Director Atal Innovation Mission NITI Aayog At the Atal Innovation Mission AIM âwe are focused on strengthening this pillar by enabling incubators with better infrastructure mentorship funding access and market linkagesâ he said at an event in Mohali that brought together key stakeholders from government industry academia incubators startups and the wider innovation ecosystemThe event aimed at strengthening the stateâcentre collaboration and to build a robust incubator network across the region while deepening engagement with key innovation ecosystem stakeholders The initiative also focused on fostering inclusive entrepreneurship and accelerating innovation through stronger partnerships between government industry academia and startupsThe regional gathering witnessed participation from representatives of Punjab Haryana Himachal Pradesh Jammu amp Kashmir Ladakh Uttarakhand and Delhi along with startup councils incubators industry leaders CSR partners and ecosystem enablersS Satnam Singh Sandhu Member of Parliament Rajya Sabha and Chairman of CGC Landran appreciated Atal Innovation Missionâs efforts for spearheading collaborative innovation platforms that leverage regional strengths and contribute towards Indiaâs innovationled growth journeyHe underlined the significance of entrepreneurship and innovation in realising the Prime Ministerâs vision of Viksit Bharat He also noted that Punjab and JampK share entrepreneurial energy and academic depth and that this joint chapter would unlock new opportunities for startups youth and industry across both statesThe âSumvaadâ featured highlevel deliberations on strengthening incubation ecosystems scaling stateled innovation initiatives and enhancing collaboration between governments academia incubators and industry The sessions focused on enabling innovationdriven economic growth and unlocking opportunities for startups across emerging sectorsOne of the major highlights of the event was the launch of the Punjab amp Jammu and Kashmir Incubation Consortium â PIRAHI a collaborative initiative aimed at strengthening regional innovation partnerships and creating new opportunities for startups youth and industry across both states IANS https://dailyworld.in/business/incubators-are-key-pillar-of-successful-startup-ecosystem-niti-aayog-672740.html Thu, 07 May 2026 09:54:00 +0530 https://dailyworld.in/business/apple-to-invest-rs-100-crore-in-indias-renewable-energy-infrastructure-672742.html New Delhi May 7 US tech giant Apple has announced an investment of Rs 100 crore to support the development of renewable energy infrastructure in India as part of its broader sustainability and carbon neutrality goals The company said the investment will be made in collaboration with CleanMax one of Indiaâs leading renewable energy developers to help build more than 150 megawatts of new renewable energy capacity across the countryAccording to the iPhone maker the planned capacity would be enough to power nearly 15 lakh Indian households annually and may be expanded further in the coming yearsThe initiative is aimed at strengthening renewable energy adoption across Appleâs supply chain operations in India and supports the companyâs target of becoming carbon neutral across its entire footprint by 2030At Apple our commitment to the environment is also a driving force for innovation across the company and around the world said Sarah Chandler Apples Vice President of Environment and Supply Chain InnovationWe are proud to expand our efforts to invest in Indias clean energy economy and protect the countrys precious natural resources she addedMoreover the USheadquartered firm had earlier partnered with CleanMax on rooftop solar projects to power its offices and retail stores in India with 100 per cent renewable energyApart from renewable energy investments it also announced new partnerships in India focused on reducing plastic pollution and promoting green entrepreneurshipThe company said it is working with WWFIndia to support recycling and waste management initiatives to improve material recovery and reducing plastic leakage into ecosystemsThe iPhone maker is also partnering with Acumen to provide grants and mentorship support to earlystage green enterprises working in areas such as waste management regenerative agriculture and circular economy solutions IANS https://dailyworld.in/business/apple-to-invest-rs-100-crore-in-indias-renewable-energy-infrastructure-672742.html Thu, 07 May 2026 10:28:00 +0530 https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-crude-oil-surge-us-iran-uncertainty-672762.html New Delhi May 7 Gold and silver prices traded higher on Thursday with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the USIran peace deal On the Multi Commodity Exchange MCX gold futures June 5 traded at an intraday high of Rs 152887 up 049 per cent or Rs 755 as of 1049 am The yellow metal touched an intraday low of Rs 152400Meanwhile silver futures July 3 were trading 149 per cent or Rs 3790 higher at Rs 257055 after hitting an intraday high The white metal began the session at Rs 254998 on the MCX up 068 per cent or Rs 1733 It touched an intraday low of Rs 254722According to commodity market experts the nearterm outlook for precious metals remains positive amid improving sentiment and continued safehaven demand driven by geopolitical uncertaintiesIn the international market as well precious metals were trading in the green COMEX gold was up 021 per cent at 4703 per ounce while silver gained 112 per cent to trade at 7817 per ounceThe rise in gold and silver prices is being attributed to weakness in the dollar index which is currently trading below the 98 markOn the other hand global uncertainty is also supporting gains in precious metals The US and Iran are continuing talks aimed at ending the ongoing conflictReports suggest that the US has asked Iran to halt its nuclear programme and reopen the Strait of HormuzMeanwhile the Iranian Foreign Ministry said Tehran would respond to the proposal However US President Donald Trump said he believes Iran wants a dealAdditionally the international oil benchmark Brent crude traded at 10250 per barrel up 121 per cent while US West Texas Intermediate WTI rose 147 per cent to 9648 per barrel IANS https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-crude-oil-surge-us-iran-uncertainty-672762.html Thu, 07 May 2026 11:53:00 +0530 https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-crude-oil-jump-us-iran-uncertainty-672763.html New Delhi May 7 Gold and silver prices traded higher on Thursday with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the USIran peace deal On the Multi Commodity Exchange MCX gold futures June 5 traded at an intraday high of Rs 152887 up 049 per cent or Rs 755 as of 1049 am The yellow metal touched an intraday low of Rs 152400Meanwhile silver futures July 3 were trading 149 per cent or Rs 3790 higher at Rs 257055 after hitting an intraday high The white metal began the session at Rs 254998 on the MCX up 068 per cent or Rs 1733 It touched an intraday low of Rs 254722According to commodity market experts the nearterm outlook for precious metals remains positive amid improving sentiment and continued safehaven demand driven by geopolitical uncertaintiesIn the international market as well precious metals were trading in the green COMEX gold was up 021 per cent at 4703 per ounce while silver gained 112 per cent to trade at 7817 per ounceThe rise in gold and silver prices is being attributed to weakness in the dollar index which is currently trading below the 98 markOn the other hand global uncertainty is also supporting gains in precious metals The US and Iran are continuing talks aimed at ending the ongoing conflictReports suggest that the US has asked Iran to halt its nuclear programme and reopen the Strait of HormuzMeanwhile the Iranian Foreign Ministry said Tehran would respond to the proposal However US President Donald Trump said he believes Iran wants a dealAdditionally the international oil benchmark Brent crude traded at 10250 per barrel up 121 per cent while US West Texas Intermediate WTI rose 147 per cent to 9648 per barrel IANS https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-crude-oil-jump-us-iran-uncertainty-672763.html Thu, 07 May 2026 11:53:00 +0530 https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-geopolitical-uncertainty-672765.html New Delhi May 7 Gold and silver prices traded higher on Thursday with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the USIran peace deal On the Multi Commodity Exchange MCX gold futures June 5 traded at an intraday high of Rs 152887 up 049 per cent or Rs 755 as of 1049 am The yellow metal touched an intraday low of Rs 152400Meanwhile silver futures July 3 were trading 149 per cent or Rs 3790 higher at Rs 257055 after hitting an intraday high The white metal began the session at Rs 254998 on the MCX up 068 per cent or Rs 1733 It touched an intraday low of Rs 254722According to commodity market experts the nearterm outlook for precious metals remains positive amid improving sentiment and continued safehaven demand driven by geopolitical uncertaintiesIn the international market as well precious metals were trading in the green COMEX gold was up 021 per cent at 4703 per ounce while silver gained 112 per cent to trade at 7817 per ounceThe rise in gold and silver prices is being attributed to weakness in the dollar index which is currently trading below the 98 markOn the other hand global uncertainty is also supporting gains in precious metals The US and Iran are continuing talks aimed at ending the ongoing conflictReports suggest that the US has asked Iran to halt its nuclear programme and reopen the Strait of HormuzMeanwhile the Iranian Foreign Ministry said Tehran would respond to the proposal However US President Donald Trump said he believes Iran wants a dealAdditionally the international oil benchmark Brent crude traded at 10250 per barrel up 121 per cent while US West Texas Intermediate WTI rose 147 per cent to 9648 per barrel IANS https://dailyworld.in/business/gold-and-silver-surge-up-to-1-pc-amid-geopolitical-uncertainty-672765.html Thu, 07 May 2026 11:55:00 +0530 https://dailyworld.in/business/sensex-nifty-jump-about-1-pc-in-early-deals-amid-easing-west-asia-tensions-hopes-672562.html Mumbai May 6 Indian equity markets traded higher on Wednesday in early deals with benchmarks jumping almost 1 per cent each on global cues amid hopes of deescalation in the West Asia conflict Sensex rose 085 per cent or 657 points to hit an intraday high of 77675 in morning trade while Nifty was trading at 24250 up 090 per cent or 217 points from the previous closeAmong sectoral indices Nifty PSU Bank Nifty Private Bank Nifty Auto Nifty Metal and Nifty IT advanced up to nearly 2 per cent with all sectors trading in positive territory Meanwhile Larsen amp Toubro Hindustan Unilever ONGC Power Grid and ITC were the top laggards in the Nifty packAnalysts struck a cautiously optimistic note Technically the market sentiment is cautiously bullish but a sustained daily close above 24250 is needed to extend the rally towards 24350â24450 If 23900 is not held the index could test the 23800â23700 zone an expert saidOn the broader technical setup another analyst noted that while the opening was positive trade was likely to remain rangebound and volatile The broader trend remains constructive but the shortterm structure suggests consolidation with key levels acting as triggersOptimism was driven by oil prices falling for a second consecutive session on hopes that bottledup West Asia supply could resume flowingMoreover US President Donald Trump indicated a possible peace deal with Iran briefly pausing an escort operation through the Strait of Hormuz citing progress toward a comprehensive agreement Tehran has not responded to Trumps commentsThe US Navy however continues its blockade of Iranian portsIn commodities global oil benchmark Brent crude dropped more than 2 per cent to 10756 per barrel while the US benchmark West Texas Intermediate WTI fell 3 per cent to 9912 per barrelOn the global front markets showed positive momentum In Asia the Nikkei rose 071 per cent the Hang Seng jumped over 1 per cent and the KOSPI was up nearly 7 per centOn Wall Street the SampP 500 closed 081 per cent higher and the Nasdaq settled up 1 per cent IANS https://dailyworld.in/business/sensex-nifty-jump-about-1-pc-in-early-deals-amid-easing-west-asia-tensions-hopes-672562.html Wed, 06 May 2026 10:43:00 +0530 https://dailyworld.in/business/sensex-nifty-jump-about-1-pc-in-early-deals-over-easing-west-asia-tensions-672564.html Mumbai May 6 Indian equity markets traded higher on Wednesday in early deals with benchmarks jumping almost 1 per cent each on global cues amid hopes of deescalation in the West Asia conflict Sensex rose 085 per cent or 657 points to hit an intraday high of 77675 in morning trade while Nifty was trading at 24250 up 090 per cent or 217 points from the previous closeAmong sectoral indices Nifty PSU Bank Nifty Private Bank Nifty Auto Nifty Metal and Nifty IT advanced up to nearly 2 per cent with all sectors trading in positive territory Meanwhile Larsen amp Toubro Hindustan Unilever ONGC Power Grid and ITC were the top laggards in the Nifty packAnalysts struck a cautiously optimistic note Technically the market sentiment is cautiously bullish but a sustained daily close above 24250 is needed to extend the rally towards 24350â24450 If 23900 is not held the index could test the 23800â23700 zone an expert saidOn the broader technical setup another analyst noted that while the opening was positive trade was likely to remain rangebound and volatile The broader trend remains constructive but the shortterm structure suggests consolidation with key levels acting as triggersOptimism was driven by oil prices falling for a second consecutive session on hopes that bottledup West Asia supply could resume flowingMoreover US President Donald Trump indicated a possible peace deal with Iran briefly pausing an escort operation through the Strait of Hormuz citing progress toward a comprehensive agreement Tehran has not responded to Trumps commentsThe US Navy however continues its blockade of Iranian portsIn commodities global oil benchmark Brent crude dropped more than 2 per cent to 10756 per barrel while the US benchmark West Texas Intermediate WTI fell 3 per cent to 9912 per barrelOn the global front markets showed positive momentum In Asia the Nikkei rose 071 per cent the Hang Seng jumped over 1 per cent and the KOSPI was up nearly 7 per centOn Wall Street the SampP 500 closed 081 per cent higher and the Nasdaq settled up 1 per cent IANS https://dailyworld.in/business/sensex-nifty-jump-about-1-pc-in-early-deals-over-easing-west-asia-tensions-672564.html Wed, 06 May 2026 10:45:00 +0530 https://dailyworld.in/business/strong-reserves-stable-policy-make-india-standout-in-emerging-markets-moodys-672569.html New Delhi May 6 India has earned an endorsement from one of the worlds top credit rating agencies with Moodys Ratings placing the nation among the most resilient large emerging market economies over the past five years which is a recognition that comes at a time when global financial markets remain on edge over trade tensions and geopolitical uncertainty In a recently released report Moodys said India better placed than most of its emerging market peers to absorb future global shocks pointing to three pillars that set it apart strong foreign exchange reserves a stable and predictable policy framework and deep domestic capital markets which reduce its dependence on volatile external fundingSince 2020 emerging markets have been stresstested repeatedly it saidIt highlighted the COVID19 pandemic first then by the sharpest global inflation surge in decades followed by aggressive US Federal Reserve rate hikes in 2022 regional banking turmoil in 2023 and renewed tariff pressures in 2025 Across each of these episodes Moodys found that India absorbed the turbulence without a sharp rise in funding costs or a loss of access to capital markets an outcome that eluded several of its peersMoreover the ratings agency noted that Indias monetary policy framework has remained clear and consistent inflation expectations are well anchored and the exchange rate has been allowed to adjust when needed which is a combination that preserves investor confidence even when external conditions deteriorateThe report also outlined that India would enter any future period of global stress with buffers that are not just strong but accessible a distinction that matters when markets move fast and policy response time is shortIn its own words deep local markets and sizeable reserves help balance Indias reliance on domestic funding but fiscal space remains a constraintThe study benchmarked India against a broad peer group including Indonesia Mexico Malaysia Thailand Brazil South Africa Nigeria and Turkey economies that have each faced their own version of postpandemic stress with varying degrees of success IANS https://dailyworld.in/business/strong-reserves-stable-policy-make-india-standout-in-emerging-markets-moodys-672569.html Wed, 06 May 2026 11:25:00 +0530 https://dailyworld.in/business/indian-companies-plan-to-invest-over-205-billion-in-us-sergio-gor-672574.html New Delhi May 6 Indian companies have lined up investments worth over 205 billion across sectors such as technology manufacturing and pharmaceuticals in the United States US Ambassador to India Sergio Gor said on Wednesday describing the momentum as a direct outcome of President Donald Trumps economic leadership In a post on social media platform X the envoy said that 12 Indian companies announced fresh investments worth 11 billion in a single day adding to a growing pipeline of commitments that he said were creating âreal American jobsâ and strengthening supply chains between the two countriesâThese partnerships are creating real American jobs and building stronger supply chainsâ Gor wroteHe further added that the investment flow was âproof that when the worlds largest democracies do business together everyone winsâThe ambassadors remarks come at a time when India and the United States are deepening economic ties across multiple fronts with bilateral trade defence cooperation and technology partnerships all gaining pace under the current administrations in both countriesGor however did not disclose the names of the 12 Indian companies that announced investments in the USEarlier in March the US trade deficit widened as imports outpaced exports even as the American goods gap with India narrowed compared to the same period last yearThe US Census Bureau and the Bureau of Economic Analysis said the overall goods and services deficit rose to 603 billion in the month up 25 billion from a revised 578 billion in FebruaryMoreover US exports in March stood at 3209 billion an increase of 62 billion from February while imports climbed by 87 billion to 3812 billionThe detailed country data showed US exports to India rose to about 43 billion in March while imports from India totalled around 84 billion IANS https://dailyworld.in/business/indian-companies-plan-to-invest-over-205-billion-in-us-sergio-gor-672574.html Wed, 06 May 2026 11:29:00 +0530 https://dailyworld.in/business/sonipat-human-development-report-2026-presented-in-delhi-sparks-dialogue-on-local-development-challenges-672578.html New Delhi May 6 The Sonipat Human Development Report HDR 2026 earlier released by the Honble Chief Minister of Haryana in January 2026 was formally presented in New Delhi recently The event was organised by the Jindal Institute of Haryana Studies JIHS and brought together policymakers academics and development practitioners to reflect on the reports findings and policy implicationsThe report was released by Mr Vijai Vardhan Former Chief Secretary Government of Haryana and Mr Vikas Gupta Commissioner Kendriya Vidyalaya Sangathan alongside distinguished dignitaries including Dr Dalal Moosa Senior Economist World Bank Ms Kanta Singh Deputy Country Representative UN Women Mr Jagan Shah Senior Urban Expert and Former Director National Institute of Urban Affairs NIUA Professor Dr Alakh N Sharma Director Institute for Human Development and Ms Amrah Ashraf Head of Communications and Strategic Partnerships UNDP India The event was graced by Professor Dr C Raj Kumar Vice Chancellor of OP Jindal Global University Professor Dr Mrinalini Jha Director JIHS and Professor R Sudarshan Dean Jindal School of Government and Public PolicyIn her opening remarks Professor Dr Mrinalini Jha highlighted the key findings of the Sonipat HDR 2026 and outlined ongoing and future initiatives of JIHS in advancing regional research The Vice Chancellor Professor Dr C Raj Kumar emphasised the importance of dedicated research institutions like JIHS in producing rigorous policyrelevant regional analyses Drawing on their extensive administrative experience Mr Vijai Vardhan and Mr Vikas Gupta commended the research team and underscored the practical utility of Human Development Reports in informing public policy and governance drawing from their own long years of service in the Indian administrationThe programme included presentations by chapter authors who provided concise overviews of findings across key sectors such as health education environment labour and livelihoods governance spatial transformation and basic service delivery These presentations highlighted critical development challenges and actionable policy recommendations for the Sonipat districtA panel discussion titled From Evidence to Action Leveraging District Human Development Reports for Inclusive Development brought together leading experts to deliberate on the broader relevance and future direction of HDRs Dr Dalal Moosa emphasised the importance of integrating social protection into Human Development Reports describing it as a cornerstone of the social contract and essential for safeguarding individuals during periods of vulnerability She also highlighted the need to include migrant population data and suggested making reports more accessible through concise infographicdriven formatsMs Kanta Singh reflected on her own experience from Sonipat noting a visible decline in girls participation in education and sports such as volleyball between her adolescence and the present She stressed that cultural factors significantly influence womens economic participation and called for more nuanced indicators beyond unemployment rates improved data disaggregation by gender and attention to enabling factors such as public transportProfessor Dr Alakh N Sharma underscored the importance of identifying vulnerable employment and advocated for stronger reliance on primary data to better capture districtlevel realitiesMr Jagan Shah emphasised the need for districtlevel spatial planning infrastructure noting that spatial transformation reflects broader patterns of structural transformation towards an urban economy He highlighted the critical role of local governments in shaping these transitions and called for closer examination of the financialisation of spatial assets to better understand their developmental implicationsMs Amrah Ashraf reaffirmed the continued relevance of Human Development Reports globally noting that over 800 such reports have been produced with India leading in the number of subnational HDRsThe panel discussion moderated by Professor Dr Naveen Thomas concluded with a rich exchange of ideas among participants underscoring the importance of strengthening districtlevel evidence improving data systems and deepening institutional engagement to ensure that human development reports translate into actionable and inclusive policy outcomes IANS https://dailyworld.in/business/sonipat-human-development-report-2026-presented-in-delhi-sparks-dialogue-on-local-development-challenges-672578.html Wed, 06 May 2026 12:08:00 +0530 https://dailyworld.in/business/accessible-global-oil-inventories-could-run-low-by-midjune-report-672590.html New Delhi May 6 IANS Global oil inventories that can be tapped without disrupting supply chains could be exhausted within three weeks raising the risk of operational stress in markets by midJune a report has saidnbspThe report from investment bank JP Morgan said that the global oil inventory stood at 84 billion barrels of oil in early 2026 but only a small portion is usable without pushing the system into strain in order to keep the circulation network workingOf the 84 billion barrels we estimate only 08 billion are realistically available without pushing the system into operational stress it saidThe investment bank said that approximately 280 million barrels have already been drawn down leaving about 580 million barrels of usable inventories available but it could be exhausted by early JuneAs oil markets remain volatile following tensions in the Middle East and disruptions through the Strait of Hormuz the report said that the issue facing the market is not the total disappearance of oil supplies but the lack of accessible inventories to enable smooth functioning of the systemThe system does not fail because oil completely disappears it fails because the circulation network no longer has enough working volume the report saidSome inventories remain tied up in pipeline requirements minimum tank levels and other operational requirements limiting the amount available to the marketMoreover international oil benchmark Brent crude dropped by 230 per cent to 10733 a barrel while US West Texas Intermediate crude declined by 308 per cent to 9912 a barrelThe latest moves in crude prices were triggered by comments from US President Donald Trump that the United States would temporarily halt Project Freedom a military initiative launched earlier to escort commercial vessels through the Strait of HormuzPresident Trump said in a social media post that the decision followed progress in negotiations with Iran toward a final agreementIANS https://dailyworld.in/business/accessible-global-oil-inventories-could-run-low-by-midjune-report-672590.html Wed, 06 May 2026 12:36:00 +0530 https://dailyworld.in/business/gold-silver-prices-gain-up-to-3-pc-on-weak-dollar-oil-prices-672594.html Mumbai May 6 IANS Gold and silver traded higher on Wednesday tracking weakness in oil prices and the dollar index with both precious metals gaining up to 3 per centnbspOn the Multi Commodity Exchange MCX gold futures June 5 opened at Rs 152000 per 10 grams up Rs 2247 or 15 per cent from the previous close of Rs 149753At 1130 am gold was trading at Rs 152419 up Rs 2666 or 178 per cent So far in the session the yellow metal has touched an intraday high of Rs 152450 up Rs 2697 or 18 per cent At the intraday low it was still trading higher by Rs 1900 or 126 per cent at Rs 151653Meanwhile silver futures July 3 opened at Rs 249316 per kg also the intraday low so far a jump of Rs 5000 or 204 per cent from the previous close At the time of filing the report it was trading at Rs 251699 up Rs 7383 or 302 per centIn the international market as well precious metals were trading higher COMEX gold was up 192 per cent at 4656 per ounce while silver gained 345 per cent to 7612 per ounceAnalysts said gold prices edged higher after recovering from a onemonth low supported by easing concerns over USIran tensions and some stability in oil pricesHowever elevated crude prices and expectations of a prolonged higher interest rate environment continue to cap gains in bullion they addedIn addition the dollar index slipped 034 per cent to 9797 The dollar index measures the US dollars strength against a basket of six major currencies the euro Japanese yen pound sterling Canadian dollar Swedish krona and Swiss francTypically a weaker dollar supports prices of precious metals like gold and silvernbspOn Tuesday international oil benchmark Brent crude fell 230 per cent to 10733 per barrel while US West Texas Intermediate crude declined 3 per cent to 9912 per barrelIANS https://dailyworld.in/business/gold-silver-prices-gain-up-to-3-pc-on-weak-dollar-oil-prices-672594.html Wed, 06 May 2026 12:53:00 +0530 https://dailyworld.in/business/indias-steel-sector-sustains-growth-momentum-in-april-govt-672635.html New Delhi May 6 Indiaâs steel sector sustained its growth trajectory during April with a 58 per cent increase in crude steel production to 1409 million tonnes from 1331 million tonnes in the same month of the previous year while the domestic demand momentum stayed robust on the back of continued buoyancy across infrastructure and manufacturing according to an official statement issued on Wednesday Domestic steel prices also extended their recovery during the month across all major product categories driven by the strong demand Hot metal production grew 54 per cent yearonyear YoY in April while pig iron output 069 million tonnes posted a decline of 6 per cent YoY Finished steel production reached 1305 million tonnes up 34 per cent YoY Finished steel consumption in April 2026 was 1299 million tonnes registering growth of 81 per cent YoY driven by the strong performance of infrastructure and manufacturing enduse segments On the trade front imports stood at 068 million tonnes and exports at 047 million tonnes making India a marginal net importer during the month Compared to April 2025 imports of 052 million tonnes and exports of 038 million tonnes a growth of 308 per cent and 249 per cent was registered in imports and exports respectively in April 2026 Indias total steel capacity stood at approximately 220 MTPA in FY 2025â26 on track toward the National Steel Policy target of 300 MTPA by 2030 Major players including SAIL Tata Steel JSW Steel JSPL and AMNS continued investments in capacity expansion with Tata Steel recently commissioning a Rs 3200 crore scrapbased EAF green steel plant 075 MTPA at Ludhiana â the first of its kind in Punjab TMTRebar prices rose around 26 per cent monthonmonth also registering a 3 per cent yearonyear gain â marking the first positive YoY reading after several months of softness Flat steel prices saw sharper gains with HR Coil up around 63 per cent and GP Sheet up around 73 per cent monthonmonth reflecting improved demand the statement pointed out Under the Ministry of Steelâs Green Steel initiative NISST continued its role as the nodal agency for measurement reporting verification and certification of green steel As on March 31 2026 NISST had issued green steel certificates to 90 producers across 15 states spanning products including TMT Bars HRCR Coils Wire Rods and Pipes with a majority of certified products achieving the highest 5star rating â reflecting strong uptake of the initiative across secondary and midsize steel producers Raw material prices showed a mixed but broadly firming trend in April 2026 Domestic iron ore prices strengthened notably with NMDC lump and fines prices rising 10â11 per cent monthonmonth reflecting improved steel sector demand Global seaborne iron ore remained largely stable International coking coal costs edged up further monthonmonth sustaining elevated input cost pressures for integrated BFBOF producers heading into Q1 FY 2026â27 International scrap prices were broadly flat offering relative stability for the electric route steelmakers the statement said The Indian steel industry is wellpositioned to sustain its growth trajectory supported by continued infrastructure investment and expanding manufacturing activity Navigating energy security raw material cost volatility and global trade developments will remain key priorities for the sector in the year ahead the statement added IANS https://dailyworld.in/business/indias-steel-sector-sustains-growth-momentum-in-april-govt-672635.html Wed, 06 May 2026 14:58:00 +0530 https://dailyworld.in/business/global-value-chains-boost-growth-create-jobs-cut-poverty-across-asia-pacific-adb-672636.html New Delhi May 6 Geopolitical tensions supply chain disruptions and rapid technological changes are reshaping how economies participate in global value chains the Asian Development Bank ADB said on Wednesday Greater specialisation in the stages of global production has helped Asia and the Pacific achieve economic growth create jobs and reduce poverty over the past quarter century according to the ADBâs âAsian Development Policy Report 2026âThe report found that the region accounts for a third of global value chain trade with its developing economies doubling their share from 9 per cent to 18 per cent from 2000 to 2023âGreater geoeconomic fragmentation reduces the opportunities for firms to benefit from global value chains which risks stifling industrialization and growth in economies stuck in lowvalue rolesâ said ADB Chief Economist Albert Park To bridge the gap support for lessdeveloped economies is crucial to help them take advantage of emerging technologies and to strengthen infrastructure logistics and the business environment to enhance productivity and competitiveness Park notedSome economies â particularly in East and Southeast Asiaâhave become deeply embedded in regional and global production networks occupying central positions that allow them to capture significant value addition Others including many smaller lowerincome or geographically remote economies have participated less and remain largely excluded from these networksWhile the ability to specialise in narrow segments of the production process has enabled rapid integration into global markets the benefits of global value chains remain uneven mainly benefiting large productive firms Meanwhile small and mediumsized enterprises face barriers due to high compliance costs and limited capabilities said the reportThe report identifies three policy priorities to support global value chain integrationResilience is becoming an increasingly important aspect of competitiveness Increased uncertainty and fragmentation have raised the importance of reliability adaptability and risk management âStrengthening resilience requires coordinated improvements in robust connective infrastructure the capability of firms to respond flexibly to changing circumstances and policy frameworks that enable diversification of markets inputs and partnershipsâ it notedSecond environmental sustainability is increasingly shaping the conditions for participation in global value chains Compliance with evolving environmental and sustainability standards is becoming a general requirement across global value chains Strengthening policies in areas such as standards certification and traceability can help firms to adopt cleaner technologies and production processesThird inclusion remains a central objective across all stages of integration Achieving inclusive outcomes requires coordinated actions that reduce trade costs through infrastructure investment open trade policies and trade facilitation develop worker skills and firm capabilities and support access for small and mediumsized enterprises to finance digital platforms and export opportunities said the report IANS https://dailyworld.in/business/global-value-chains-boost-growth-create-jobs-cut-poverty-across-asia-pacific-adb-672636.html Wed, 06 May 2026 15:01:00 +0530 https://dailyworld.in/business/indias-services-pmi-at-5-month-high-of-588-in-april-672650.html New Delhi May 6 Indiaâs services sector activity strengthened in April with the Purchasing Managers Index PMI rising to a fivemonth high of 588 because of robust domestic demand and increased business activity the HSBC India Services PMI data showed on Wednesday The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 575 in March to 588 in April which is the strongest pace of expansion since NovemberMoreover new business inflows also grew at the fastest pace in five months supported by competitive pricing ecommerce activity and strong demand for relocation and logistics services according to survey participantsActivity and new orders strengthened even as new export orders eased suggesting that demand is rotating from overseas markets to domestic consumers amid the Middle East conflict said Pranjul Bhandari Chief India Economist at HSBCOn the cost front input price inflation eased slightly from MarchDespite elevated cost pressures output price inflation remained relatively subdued indicating that some firms absorbed higher costs rather than passing them on to customersHowever service providers remained optimistic about the year ahead supported by expectations of stronger demand marketing initiatives and rising client enquiries although sentiment softened slightly due to concerns over geopolitical tensions and cost pressuresMeanwhile hiring activity picked up across the sector with companies adding both shortterm staff and juniorlevel workers to meet rising demand Increased recruitment also helped firms reduce outstanding business volumes marginally during the monthAt the broader level Indiaâs private sector activity also gained momentum in April with the HSBC Composite PMI Output Index rising to 582 from 57 in MarchNotably Indiaâs manufacturing PMI increased to 547 in April up from 539 in March as output new orders including exports and employment all grew moderately IANS https://dailyworld.in/business/indias-services-pmi-at-5-month-high-of-588-in-april-672650.html Wed, 06 May 2026 16:06:00 +0530 https://dailyworld.in/business/us-india-partnership-can-rev-up-pace-of-ai-adoption-672651.html New Delhi May 6 India has the potential to give the US a further edge in the race for AI adoption with American tech giants such as Google Microsoft and Amazon already committing billions of dollars in investments to build AI hubs across India according to an article in Arab News These investments are aimed to ensure that USdesigned technology forms the backbone of the Global Southâs largest economy If the future of the digital world is built on USIndian infrastructure the world will remain open and secure But if it is built on Chinaâs proprietary technology stack the global order will fracture the article written by Ylli Bajraktari and Dhruva Jaishankar states Although the US maintains a decisive edge in frontier models and highend compute China has proven that its capacity for innovation is a force to be reckoned with To counter this the US needs the talent and dataset scaling that only India can provide the article opines âIndia offers more than just a massive market It provides populationscale datasets drawn from almost 15 billion people making it a vital theater for testing AI in realworld environments â from rural agriculture to urban healthcare Moreover with an AI talent pool projected to exceed 125 million by 2027 India provides the intellectual heft and human capital required to sustain a hightempo innovation cycleâ the article states Potential however is not the same as proficiency While Indiaâs talent pool is vast much more must be done to match skills to specific AI tasks Bridging this gap should be seen as a US imperative Integrating Indian talent into USled ecosystems is the only way for American firms to maintain their edge against a competitor that views technology as a tool of state control rather than a means of individual empowerment the article further states It presents a fourpoint plan to turn the current USIndia momentum in AI into a permanent strategic advantage It suggests that linking Indiaâs burgeoning startup ecosystem with the technological tools and capital available in the US can create common solutions for an array of global challengesSecond the two countries can cooperate in constructing resilient infrastructure and supply chains Their efforts should encompass not only critical minerals and semiconductors but also undersea cables open telecommunications networks and data centersThird India and the US will need to collaborate on creating a seamless highskill ecosystem for talent With rising antiimmigrant sentiments in the US and many other countries this will require navigating potentially treacherous political territoryLastly to enable all the above India and the US must align their technological standards intellectual property rights and cybersecurity policies far more than they do today Translating shared values into common agendas is the only way to reduce bilateral friction and accelerate cooperation the article observes IANS https://dailyworld.in/business/us-india-partnership-can-rev-up-pace-of-ai-adoption-672651.html Wed, 06 May 2026 16:07:00 +0530 https://dailyworld.in/business/sensex-surges-940-points-nifty-tops-24-300-amid-us-iran-deal-hopes-672654.html Mumbai May 6 IANS Indian equity benchmarks staged a strong latesession rally on Wednesday with both the Nifty and the Sensex closing sharply higher as global cues turned favourable following a steep drop in crude oil pricesnbspThe Nifty climbed 29815 points or 124 per cent to settle at 2433095 while the Sensex surged 94073 points or 122 per cent to end at 7795852Commenting on Nifty technical outlook experts said that the markets staged a strong rebound with Nifty closing above the immediate resistance at 24300 levelsThe index has established a strong support zone around 24000 which aligns with both the 21DMA and 50DMA an analyst statedAdditionally Nifty has broken out of a symmetrical triangle pattern on the daily chart indicating a positive shift in the shortterm structure with potential upside towards 24500 levels as per the expertThe rally gathered momentum in the second half of the trading session after reports suggested a potential breakthrough in diplomatic talks between the United States and IranOn the equities front gains were led by heavyweight stocks such as InterGlobe Aviation Tata Motors Passenger Vehicles and Shriram Finance which emerged as the top performers on the Nifty indexBroader markets mirrored the upbeat sentiment with the Nifty MidCap index advancing 176 per cent and the Nifty SmallCap index rising 193 per centSectorally banking and real estate stocks led the rally Indices tracking PSU banks private banks banking stocks and realty companies outperformed the broader market benefiting from improved risk appetiteIn contrast the FMCG sector lagged behind emerging as the worstperforming segment of the dayExperts said that the sharp fall in crude prices coupled with optimism over easing geopolitical tensions provided a strong tailwind to domestic equities helping markets close near the days highsWith input cost pressures and FX risks still present a selective investment approach is advisable an analyst explainedIANS https://dailyworld.in/business/sensex-surges-940-points-nifty-tops-24-300-amid-us-iran-deal-hopes-672654.html Wed, 06 May 2026 16:24:00 +0530 https://dailyworld.in/business/asean-must-diversify-energy-ties-to-middle-powers-after-west-asia-crisis-report-672680.html New Delhi May 6 The Association of Southeast Asian Nations ASEAN should accelerate energy diversification and deepen ties with reliable partners including India after the West Asia crisis exposed vulnerabilities in supply chains and energy security a report said According to a report by Malaysian media outlet Bernama Associate Professor at the School of International Studies Jawaharlal Nehru University JNU Rahul Mishra said ASEAN countries should strengthen engagement with middle and emerging powers in the IndoPacificHe suggested closer collaboration with countries such as Japan Australia India Turkey and the European Union which are increasingly emerging as key energy partners for Southeast AsiaMishra noted that ASEAN may already be moving in this direction citing possible outcomes from recent meetings in the Philippines including the ASEAN summit scheduled later this yearThe report highlighted that global energy shocks have disproportionately impacted smaller Southeast Asian economies underscoring the need to collaborate with more reliable and resilient partners for longterm energy securityâWe are witnessing that smaller economies like Thailand and the Philippines are already bearing the brunt Malaysia comparatively is less affected due to some degree of energy selfsufficiencyâ said Mishra who is also a Senior Research Fellow at Thammasat University in ThailandThe West Asia conflict triggered by USIsrael strikes on Iran and Tehranâs retaliatory attacks disrupted energy supplies through the Strait of Hormuz a key global transit routeNotably another report warned that global oil inventories that can be tapped without disrupting supply chains could be exhausted within three weeks raising the risk of operational stress in markets by midJune It noted that while global oil inventories stood at 84 billion barrels in early 2026 only a limited portion is readily usable without straining supply systems IANS https://dailyworld.in/business/asean-must-diversify-energy-ties-to-middle-powers-after-west-asia-crisis-report-672680.html Wed, 06 May 2026 18:46:00 +0530 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