Rupee slips 4 paise to 96.39 against US dollar MUMBAI: The rupee appreciated 19 paise to close at 95.17 against the US dollar on Wednesday, registering the fourth straight session of gains, supported by RBI interventions designed to ease near-term dollar demand and limit speculative foreign exchange exposure.Forex traders said the Indian rupee rose to…
NEW DELHI: With over five months to go for the fiscal year to close, Centre has topped its disinvestment and asset monetisation target of Rs 80,000 crore for 2026-27, with its kitty swelling to Rs 88,665 crore once the IDBI Bank stake sale is completed – providing much-needed cushion in a year, when it is…
NEW DELHI: Hyderabad-born Prem Watsa, chairman of Fairfax Financial Holdings, with assets of around $100 billion, has always been upbeat on India and its growth prospects.The Hyderabad Public School alumnus went to IIT Madras before pursuing an MBA in Canada, despite clearing the IIM entrance test.Watsa, now 75, was once apprehended by the police while…
MUMBAI: Reliance Industries (RIL) on Wednesday said that the initial public offering (IPO) of Jio Platforms will open on Oct 21 and close on Oct 23. Jio Platforms, the holding company for the Mukesh Ambani-controlled group’s telecom and digital initiatives, will offer about 27 crore shares in the IPO at a per-share price band of…
Trade bodies say road blockades and disruptions are keeping customers away and hurting sales during the crucial Dussehra-Diwali and wedding season. NEW DELHI: Traders’ associations have urged Congress leader Rahul Gandhi to reconsider the ongoing protests against the Special Intensive Revision (SIR) of electoral rolls and issues concerning Chief Election Commissioner Gyanesh Kumar, alleging that…
Investors also weighed the risks and potential returns of heavy investment in artificial intelligence infrastructure. Wall Street stocks fell on Wednesday as hotter-than-expected US inflation data pushed Treasury yields higher, adding to concerns about borrowing costs even as major banks assessed the opportunities and risks associated with the artificial intelligence (AI) investment boom.The S&P 500…
Russia is expanding its energy partnership with India across oil, gas and nuclear power projects. NEW DELHI: India remained the world’s largest destination for Russian crude oil in September, although imports fell nearly 29 per cent from July levels as Chinese refiners stepped up purchases and tightened the availability of Russian supplies, according to ship-tracking…
Under the 2018 redevelopment agreement, the man received Rs 75 lakh and declared the capital gains arising from the transaction. (Image for representative purpose only) You give your house for redevelopment to a builder and get money from the builder and some floors. You claim long-term capital gains exemption, but the tax department sends you…
Wholesale inflation rises to 11.39% in September as food, fuel costs climb (representative image) India’s wholesale price index (WPI)-based inflation surged to a series-high of 11.39% in September, up from 9.92% in August, driven by rising prices of food, manufactured items, and fuel and power, government data showed on Wednesday.Inflation in the food index rose…
Fairfax, led by Canadian billionaire Prem Watsa, will pay Rs 81 per share for IDBI Bank. Canada-based Fairfax Financial Holdings is set to acquire a 60.72 per cent stake in IDBI Bank for approximately Rs 53,000 crore ($5.5 billion). The transaction would rank as the largest foreign investment in an Indian bank. It marks a…
