Bullion prices hit 3-month highs as weak dollar boosts demand Gold and silver continued their sharp upward move in the national capital on Friday, with both precious metals touching levels last seen more than three months ago. The gains came as a weaker US dollar and positive global market trends encouraged buying in bullion.Gold of…
Venezuelan crude has gained a much bigger share of India’s supply mix since purchases resumed in April. India is increasing its crude oil procurement from Latin America as disruptions arising from the Iran conflict and problems around the Strait of Hormuz prompt the world’s third-largest oil consumer to diversify its sources.Crude oil serves as the…
The bond market, which has remained the main source of turbulence on Wall Street, was still unsettled, but the swings in Treasury yields had moderated. US stock market today: Benchmark indices on Wall Street moved higher on Friday, recovering some of the ground lost during a volatile week. The bond market, which has remained the…
Investors can now use the automatic route, provided they meet the applicable reporting requirements. Under the revised Foreign Direct Investment (FDI) framework, which eased Chinese shareholding rules, 29 proposals worth around Rs 4,895.65 crore, or more than $500 million, have been reported. The changes were introduced in May to allow overseas companies with Chinese shareholding…
Oil products now account for a much larger share of India’s exports to several destinations. India’s oil-products export map is expanding and the country is fast emerging as an important ‘swing supplier’ in the world’s refined fuel markets as the Middle East crisis continues to disrupt flows.As TOI recently reported, Singapore has become India’s third-largest…
Centre may cut local-remedy wait for foreign investors from 5 years to 1 NEW DELHI: Seeking to address a long-pending grouse of overseas investors, govt is all set to amend the model bilateral investment treaty (BIT) to allow for international arbitration one year after exhaustion of local remedies, instead of the current five-year clause that…
SBI cash withdrawal rules change from October 1 From October 1, SBI customers will have to pay Rs 15 plus applicable GST for cash withdrawals beyond the existing limit of four free withdrawals a month. The charge will apply to Basic Savings Bank Deposit (BSBD) accounts opened through the branch channel.The bank said that customers…
Noel Tata kicks off Tata Sons succession search MUMBAI: Tata Trusts chairman Noel Tata is understood to have informally kicked off the search process for Tata Sons’ eighth chairman, meeting former HDFC chairman Deepak Parekh at the Taj Wellington Mews Residences in Mumbai on Wednesday, according to people aware of the meeting.The meeting, which also…
Sebi bars 2 entities after Sensex CAS manipulation, orders Rs 3.76cr disgorgement MUMBAI: The first Sebi order relating to the recently introduced Closing Auction Session (CAS) system showed how, using money power, large institutions could manipulate the system and turn loss-making trades into profits in their books.In the order published late on Wednesday, Sebi’s investigation…
The plan will also include local value-addition targets for machines that are currently fully imported (representative image) India is set to approve a $1.2-billion incentive scheme for manufacturing high-value and technologically advanced construction and infrastructure equipment, as the government seeks to reduce the country’s dependence on China for critical machinery, according to two government sources…
