RBI directs banks to reduce speculative trading against rupee: Report
Mumbai/IBNS: In a rare intervention, the Reserve Bank of India (RBI) directed certain banks on Friday (Nov. 22) to reduce their long positions in the dollar-rupee trade to counter speculative activities affecting the rupee, which has fallen to an all-time low, Reuters reported, citing its sources.
Byju Raveendran accused of trying to regain firm with hidden cash
Bengaluru/IBNS: Byju Raveendran, the founder of the bankrupt Indian edtech company Byju’s, allegedly attempted to use hidden loan funds to secretly buy back a US-based software company under the control of an American trustee, according to new court filings.
Bitcoin surges past $97,000 for the first time amid optimism over Trump’s crypto-friendly policies
New York/IBNS: Bitcoin reached an all-time high of $97,628 on Thursday (Nov. 21), fueled by expectations of a favourable regulatory environment for cryptocurrencies under President-elect Donald Trump.
Adani Group stocks plunge up to 20% after Gautam Adani charged with bribery and fraud in the US
Mumbai/IBNS: Shares of Adani Group companies plummeted by up to 20 percent on Thursday (Nov. 21) following allegations against Gautam Adani and seven others in the United States for orchestrating a multibillion-dollar bribery and fraud scheme.
Bitcoin soars past $94,000, hits record all-time high
New York/IBNS: Bitcoin has surpassed the $94,000 mark for the first time, achieving a record all-time high, fueled by reports of potential crypto-friendly moves under US President-elect Donald Trump.
India may consider lowering tariffs on goods that don't impact domestic industry: Sitharaman
New Delhi: In response to U.S. President-elect Donald Trump’s recent remarks labelling India as the ‘biggest’ imposer of import tariffs, Finance Minister Nirmala Sitharaman indicated on Tuesday that she may reconsider increased tariffs on goods that do not impact the domestic industry, media reports said.
India set to benefit from Trump's possible tariff hike on Chinese imports: Report
New Delhi/IBNS: After Donald Trump's win in the US presidential election, a report from CareEdge suggests that India might gain from shifts in global trade if Trump proceeds with plans to impose hefty tariffs on Chinese imports.
Global oil prices shoot up for third consecutive day amid escalating Middle East conflicts
New York/IBNS: Escalating tensions between Israel and Iran in the Middle East have driven global crude oil prices upward, and the situation could worsen following Iran's launch of around 180 ballistic missiles at Israel in response to the deaths of Hamas, Hezbollah, and Iranian military leaders.
Ship queue increases at major US ports as dockworkers' strike enters third day
New York/IBNS: A growing number of container ships were lined up outside major ports in the United States on Thursday (Oct. 1) as the largest dockworker strike in nearly 50 years entered its third day, disrupting cargo unloading and threatening shortages of goods ranging from bananas to auto parts, media reports said.
Intel and US set to finalize $8.5 billion chip funding deal by 2024 end: Report
California/IBNS: Intel and the US government are expected to finalize $8.5 billion in direct funding for the chipmaker by the end of the year, the Financial Times reported, citing sources familiar with the matter.
India surpasses China in world's largest investable stock index
New Delhi/IBNS: India has surpassed China in its weighting within one of the world’s largest stock market benchmarks, as increased share sales and liquidity make Indian companies more accessible to global investors, reports Financial Times.
Coal India to explore lithium blocks in Argentina in collab with US company: Report
New Delhi: State-owned Coal India Ltd is exploring lithium blocks in Argentina in collaboration with a US company to secure supplies of this crucial battery material, reported Reuters.
Ambassador Eric Garcetti says US investing $3.8 bn to meet India's renewable energy, infra goals
US Ambassador Eric Garcetti said the United States International Development Finance Corporation is planning to invest $3.8 billion to meet India's renewable energy and infrastructure goals.
US inflation eases, grows by 0.3% in April, core CPI also cools
Washington: US inflation showed signs of easing as the growth was less than anticipated, indicating a continuation of its downward trajectory at the beginning of the second quarter.
China surpasses US to become India's largest trading partner in FY24: Reports
New Delhi/IBNS: Replacing the United States, China has become the largest trading partner of India for the fiscal year 2023-24, reports said.