Supply disruptions in the Middle East have prompted Indian Oil Corporation (IOC) to overhaul its crude sourcing strategy, with the state-run refiner sharply increasing purchases from the spot market. The share of spot buying has risen from 50% to nearly 84%, IOC director (finance) Anuj Jain said on Saturday.The move comes after supplies through the…
Foreign currency inflows under the Reserve Bank of India‘s (RBI) special swap facility almost doubled in just two weeks, rising to $40.816 billion by July 31 from $20.718 billion as of July 17. According to the latest RBI data, Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits remained the biggest contributor, accounting for the bulk of funds…
Malta-flagged Aframax tanker Captain John loaded crude at Enbridge’s Ingleside terminal near Corpus Christi, Texas and is bound for Israel’s southern port of Ashkelon A cargo of US West Texas Intermediate (WTI) crude oil is headed to Israel for the first time in nearly three years, according to ship-tracking data.The Malta-flagged Aframax tanker Captain John…
GST collections rise to over Rs 2.11 lakh crore, driven by imports and domestic demand NEW DELHI: India’s gross Goods and Services Tax (GST) collections rose 15.4 per cent year-on-year to over Rs 2.11 lakh crore in July, driven by higher revenues from both domestic transactions and imports, according to government data released on Friday.Gross…
MUMBAI: Gold loans drove a sharp acceleration in personal lending and overall bank credit, with the segment expanding 93.8% year on year at the end of June 2026, as banks added Rs 74,171 crore in Q1FY27 to take the gold loan book to Rs 5.4 lakh crore.The expansion in gold loans accounted for 13.1% of…
MUMBAI: Markets regulator Sebi has banned Zee group’s Subhash Chandra and Punit Goenka from the market for one year for fraudulently pledging Zee Entertainment Enterprises (ZEEL)’s land parcels in Hyderabad as a security for personal loans. Chandra has also been fined Rs 60 lakh, Goenka Rs 58 lakh and the company Rs 30 lakh for…
MUMBAI: Zepto will defer its public listing by two to three quarters, co-founder & CEO Aadit Palicha told employees in a town hall on Friday, people familiar with the matter said. The quick commerce startup which was initially eyeing a listing around July has stalled the process after getting a tepid response from investors over…
NEW DELHI: Apple posted a record June quarter in India, with CEO Tim Cook identifying the country among its best-performing markets globally.During the company’s earnings call, Cook said Apple achieved June-quarter revenue records across every geographic segment, including India, the US, China mainland, Japan, Southeast Asia, Latin America and Western Europe. The company also posted…
Andhra Pradesh is set to get an aviation boost on Saturday as Prime Minister Narendra Modi will be inaugurating the Alluri Sitarama Raju International Airport at Bhogapuram in Vizianagaram district. The inauguration comes as PM Modi is headed for a two state visit to Andhra Pradesh and Karnataka. During the visit, he will also lay…
NEW DELHI: Centre’s fiscal deficit hovered around 18% of the full year’s estimate at the end of the first quarter, despite elevated capex and a slower growth in tax revenue due to the impact of GST rationalisation.During April-June, the Centre’s tax revenue was 3.7% higher at just over Rs 9 lakh crore, compared with a…
