NEW DELHI/DUBAI: The United Arab Emirates on Tuesday announced that it will exit both the 12-member Organization of the Petroleum Exporting Countries (Opec) and the broader 22-member Opec+ alliance, which includes Russia, marking one of the most significant fractures in the oil producers’ bloc in recent years. The decision...
NEW DELHI: For the better part of India’s food service history, a restaurant’s address was its destiny. Success was less a matter of culinary merit than a hostage of real estate. If you lacked the high-street frontage or the corner-plot visibility, you simply didn’t exist in the wider market....
NEW DELHI: The Centre is planning to infuse ₹8,097 crore as equity capital into the ailing Rashtriya Ispat Nigam Limited (RINL) to keep it operational, marking its second rescue package in as many years, sources said. The privatisation plan for RINL — also known as Vizag Steel — has...
NEW DELHI: India and New Zealand on Monday signed a comprehensive free-trade agreement (FTA), which will come into effect by the end of the year. Under the deal, India will gain 100 per cent duty-free market access, a $20 billion foreign direct investment (FDI) commitment over 15 years, and...
MUMBAI: The threshold for applying a 150 per cent risk weight on unrated exposures to corporates and non-banking financial companies (NBFCs) has been raised to ₹500 crore from the ₹200 crore proposed earlier, according to the final directions on Basel III capital charge for credit risk under the standardised...
NEW DELHI: India’s top IT services companies are beginning to face a clear shift as artificial intelligence starts to push down the value of their traditional business. Executives across the sector say AI-led efficiencies are compressing deal sizes and lowering billing rates, even though overall demand for technology services...
NEW DELHI: West Asia’s instability and the economic shock from higher energy prices have to be offset through gains in productivity and competitiveness elsewhere in the economy, said Chief Economic Adviser V Anantha Nageswaran on Monday. Nageswaran said the fiscal and inflationary consequences of energy disruptions fall hardest on...
NEW DELHI: Registrations on the labour ministry’s National Career Service (NCS) portal fell significantly in 2025-26 (FY26) across categories, according to data from the Ministry of Labour and Employment. The NCS portal, the government’s digital platform connecting jobseekers and employers, receives registrations from jobseekers, employers, government departments, placement organisers,...
PUNE: Domestic consumption is sustaining the growth momentum in the economy, and predictable policy support is essential to ensure that the pace of GDP expansion continues, Union Finance Minister Nirmala Sitharaman said on Friday. Speaking at an event organised by SBI here, Sitharaman also said that a committee of...
CHENNAI: India’s real estate sector recorded a total of 32 mergers & acquisitions and private equity deals worth US$763 million in the January to March period in 2026 against 26 in Q4 2025, a rise of 23% quarter-on-quarter. Though this quarter reported second highest M&A and PE deals in...
MUMBAI: The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank (PB), citing that the conduct of founder Vijay Shekhar Sharma and the entity owned by One97 Communications was detrimental to depositors’ interests. The action was taken under Section 22(4) of the Banking Regulation...
NEW DELHI: India and New Zealand will sign the Free Trade Agreement (FTA) on Monday that will entail a $20 billion investment commitment by the island country in India over the next 15 years along with zero-duty access for New Delhi in all key export sectors. “We will sign...
If you are sending money abroad to a non-resident individual (NRI) or the NRI is remitting funds abroad, the compliance process has changed a bit. However, the changes are largely surface-level, and the core requirements remain the same. The only practical change is that Forms 15CA and 15CB have...
MUMBAI: Global brokerage Bernstein has flagged a series of structural risks to India’s growth trajectory, cautioning that it could “under-deliver on its potential” unless key policy bottlenecks are addressed. The India strategy note, styled as an ‘open letter to the Prime Minister’, marks a reprise of a similar exercise...
NEW DELHI: India’s foreign direct investment (FDI) outlook remains mixed, with strong gross inflows offset by persistently weak net inflows, according to a report by Morgan Stanley. The report noted that gross FDI is likely to remain well supported, driven by both greenfield and brownfield investments. However, net FDI...
NEW DELHI: India’s private sector activity recovered in April on the back of growing output and sales primarily in manufacturing, after receding to a three-year low in March due to the West Asia conflict, a private survey said on Thursday. HSBC’s flash India Composite Purchasing Managers’ Output Index (PMI),...
MUMBAI: Just before the West Asia conflict started, the Reserve Bank of India (RBI) net bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, according to the central bank’s monthly bulletin. It heavily intervened in the foreign exchange market by selling...
NEW DELHI: India’s billionaire population is forecast to rise by 51 per cent from 207 in early 2026 to 313 by 2031, according to Knight Frank. The growth rate is estimated to outperform China (20 per cent) and the US (12 per cent). India’s current share of global billionaires,...