MUMBAI: Across the board selling pulled the sensex down by 961 points (1.2%) on Friday, and the 30-share index closed at 81,287 points with banks leading the slide. Tariff uncertainty, foreign fund selling and no visible progress in Iran-US talks left investors jittery and pressing the sell button ahead of the weekend.Foreign funds led the…
NEW DELHI: Chief economic adviser V Anantha Nageswaran Friday raised the growth forecast for the next financial year to 7-7.4% as against 6.8-7.2% projected in last month’s Economic Survey, banking on improved policy certainty due to trade agreements and an improvement in capital flows, along with high-frequency data pointing to sustained momentum in consumption and…
NEW DELHI: PM Narendra Modi on Friday asked industry to innovate and come up with fresh investments. He also urged financial institutions to adopt innovative models to boost infrastructure funding, while strengthening project sanction and appraisal quality.At a post-budget webinar, after listing out the steps taken by govt over the last decade on infrastructure, PM…
US President Donald Trump US President Donald Trump’s administration is seeking to delay legal proceedings related to tariff refunds, a week after the Supreme Court struck down his sweeping global duties, according to a court filing on Friday.The Supreme Court’s ruling marked a major setback for Trump’s signature economic policy and opened the door to…
Trump Media & Technology Group is looking to reorganise its business, with plans to spin off its social media platform Truth Social into a separate publicly traded company. The company, founded by US President Donald Trump, on Friday, confirmed that it is in discussions with TAE Technologies and Texas Ventures Acquisition III about the proposed…
OpenAI chief executive Sam Altman on Saturday announced that the company has reached an agreement with the US Department of War to deploy its AI models within the authority’s classified network. The development comes at a time when US President Donald Trump has banned every federal agency from using Anthropic.In a post on X, Altman…
Artificial intelligence firm Anthropic said on Friday (local time) that it will challenge Pentagon’s decision to classify the company as a supply-chain risk in court, according to a Reuters report. This comes hours after US President Donald Trump directed federal agencies to stop using the firm’s technology. Trump had ordered every federal department to “immediately”…
The ministry of statistics and programme implementation released a new series of national accounts with 2022–23 as the base year, replacing the 2011–12 series. The revision incorporates fresh data sources such as GST, PFMS and e-Vahan, introduces double deflation in key sectors, and relies on annual surveys for improved household estimates.■ What is a base…
Game-Changer for Global Finance? UAE Unveils World’s First AI-Powered Sovereign Cloud to Guard Banks and Data In a bold leap that could redefine how modern financial systems operate, the Central Bank of the United Arab Emirates (CBUAE) has announced the launch of what it calls the world’s first sovereign financial cloud services infrastructure, a secure…
Benchmark equity indices Sensex and Nifty fell more than 1 per cent on Friday as fresh foreign fund outflows and weak global cues weighed on investor sentiment amid rising geopolitical tensions.The 30-share BSE Sensex plunged 961.42 points, or 1.17 per cent, to close at 81,287.19. During the session, the index dropped as much as 1,089.46…
