Business
Wheat export banned with immediate effect
India has put a ban on the export of wheat with immediate effect, the ministry of commerce said in a notification in a late Friday night notification. The Directorate General of Foreign Trade (DGDT) in the notification dated May 13 has said that the wheat export ban was...
Rupee slumps to all-time low of 77.42 against dollar
The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.17...
Mumbai areas plunge into darkness in another outage
Many pockets of Mumbai plunged into darkness on Monday evening in a power outage caused by what was termed as a “technical fault”. The outage comes amid a series of disruptions in power supply faced by the financial capital over the last month amid a severe shortage of electricity...
Centre asks states to import coal to raise power output
Amid power cuts due to the low availability of coal and high demand, the central government has invoked an emergency law to start electricity generation at some idle power plants that are running on imported coal, according to a report. These idle plants are not producing electricity due to...
Commercial LPG, jet fuel prices hiked further
The price of a 19-kg commercial LPG cylinder has been hiked by Rs 102.5 to Rs 2,355.50, compared with Rs 2,253 earlier. A five-kg LPG cylinder is now priced at Rs 655. Apart from this, jet fuel prices on Sunday were also hiked by 3.22 per cent — the...
Lankan PM says he won’t resign
Sri Lanka’s embattled Prime Minister Mahinda Rajapaksa on Wednesday said that President Gotabaya Rajapaksa has not asked him to resign and claimed that they were on the “same page” to resolve the worst economic crisis, amidst reports of a rift between the two brothers in running the debt-ridden island...
SC asks banks not to impose penalties for missing EMIs
The Supreme Court has recently directed the banks to not treat the accounts of homebuyers of Amrapali Group of Companies, who have bought their flats under subvention scheme, as non-performing assets accounts. The apex court also said that no penalties will be charged from them for defaulting easy monthly...
RBI survey forecasts double-digit inflation ahead
The household inflation expectations for both three months and one year have crossed the 10 per cent mark, according to a survey by the RBI, whereas the central bank in its latest monetary policy review projected the inflation at 5.7 per cent for the current financial year 2022-23. “Households’...
Adani enters $100 billion club with Musk, Bezos
Gautam Adani has joined the exclusive centibillionaires club, which includes the likes of investor Warren Buffett, Tesla CEO Elon Musk, Amazon chief Jeff Bezos, and Meta founder Mark Zukerberg. Adani has also emerged as the world’s biggest gainer, as per a report, with his fortune going up by nearly...
Banking services hit by strike, impact higher in east India
According to a report by news agency PTI, banking services were partially impacted on Monday as a section of bank employees did not report for duty. Some bank branches, particularly in cities with a strong trade union movement, did very limited over-the-counter public dealings such as cash deposits and withdrawals....
