Saudi Arabia, Russia and five other OPEC+ countries on Sunday raised their oil production quota in an expected move aimed at projecting continuity after the United Arab Emirates’ surprise exit from the producers’ alliance, AFP reported.The seven producers will add “188,000 barrels per day” to their combined production quota for June, according to a statement…
FMCG major Nestle India has flagged volatility in input costs amid geopolitical uncertainties but said it will continue to pursue volume-led growth in the new fiscal, with focus on expanding consumption, improving penetration and driving efficiencies, PTI reported.Chairman and Managing Director Manish Tiwary said the maker of Maggi noodles, Nescafé and KitKat remains cautious as…
India’s leather and footwear industry is struggling with high input costs due to the ongoing Middle East crisis and is seeking import duty exemptions on essential raw materials, machinery and components. Industry representatives have taken up the issue with the commerce and industry ministry, warning that the disruption has sharply raised the cost of several…
Stock markets are heading into a crucial week, with investors likely to keep a close watch on state election results, crude oil prices and the ongoing Middle East conflict. Vote counting for assembly elections in West Bengal, Tamil Nadu, Kerala, Assam and Puducherry will begin on Monday, May 4, and analysts believe the results could…
Dalal Street closed the holiday-shortened week in the green, lifting the combined market valuation of India’s top 10 most valued firms by Rs 2.20 lakh crore. Reliance Industries led the rally as investor sentiment remained resilient despite a volatile trading environment.The gains came even as the stock market moved within a narrow range. The BSE…
Pakistan’s struggling economy is likely to remain under sustained pressure, with double-digit inflation expected to persist if global oil prices continue to surge amid the ongoing Middle East crisis, according to a report by Dawn.Topline Securities Ltd, in its latest “Pakistan Strategy” report released Saturday, provided a grim assessment of the impact of rising energy…
Adam Back has spent weeks being asked yet again, by various people, whether he is the inventor of Bitcoin. He is not, he says. He has been saying so for years and again since the New York Times suggested in early April, after dissecting writings from the early cypherpunk era, that Adam Back was the…
MUMBAI: The appointments committee of the cabinet has approved the appointment of Reserve Bank of India (RBI) executive director (ED) Rohit Jain as deputy governor (DG) of the banking regulator.The appointment is for a period of three years from the date of joining the post on or after May 3, 2026, the Department of Personnel…
MUMBAI: Kotak Mahindra Bank Saturday confirmed that it is looking at Deutsche Bank’s retail business, which is on the block, while stating that it has dropped out of IDBI Bank acquisition race because of the valuation and it would be ‘difficult to swallow’.Responding to queries at an earnings press conference Ashok Vaswani, MD & CEO…
NEW DELHI: The Centre has notified two crucial changes to foreign direct investment rules — the first relating to flows from neighbouring countries such as China and the second allowing up to 100% investment in insurance business — as it seeks to step up inflows amid a weak rupee.Starting May 1, companies with up to…
