US inflation rises to highest level in nearly 3 years The consumer price index increased 4.2% in the 12 months through May, boosted by surging prices for energy products amid the West Asia conflict, and giving more ammunition for the Federal Reserve to keep interest rates unchanged into 2027. This was the largest gain since…
Equity benchmarks ended lower on Thursday as weak global cues, rising crude oil prices, geopolitical tensions in the Middle East and sustained selling in IT stocks weighed on investor sentiment.The session saw heightened volatility, with both indices swinging between losses and recovery before closing in negative territory.The BSE Sensex ended 150.63 points, or 0.20%, lower…
MUMBAI: Banks have begun passing on benefits from the Reserve Bank of India’s free hedging window to non-resident customers, pushing up Foreign Currency Non-Resident (Bank) deposit rates and, in the process, reopening a tidy arbitrage between offshore borrowing costs and onshore returns.Meta taps RIL for AI data centre capacityMeta taps RIL for AI data centre…
Wipro’s Rs 15,000 crore share buyback opened on Thursday, allowing eligible shareholders to tender shares at Rs 250 apiece, significantly above the prevailing market price of under Rs 180.The IT major plans to buy back up to 60 crore shares, or around 5.7% of its total paid-up equity capital.The offer window will remain open from…
India has exported its first consignment of Geographical Indication (GI)-tagged Tezpur litchi from Assam to Dubai, marking a milestone in efforts to expand overseas markets for agricultural products from the Northeast, according to the commerce ministry.The one-metric-tonne consignment, exported on June 7, was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA).The…
NEW DELHI: Meta has signed its first artificial intelligence data centre deal in India, partnering with Reliance Industries on a 168-megawatt facility in Jamnagar, Gujarat, as technology companies race to secure the computing infrastructure needed to power AI applications.The agreement deepens a relationship that began with Meta’s $5.7 billion investment in Jio Platforms in 2020…
MUMBAI: Tata Consumer Products, which began as a tea joint venture with British firm Finlay, has crossed Rs 20,000 crore in annual revenues, marking what chairman N Chandrasekaran called the completion of its transformation into a multi-category consumer goods group.The company has built its newer “growth” businesses —packaged foods, pantry staples and ready-to-drink beverages —…
One important change is that the earlier Contract Labour law has now been subsumed into the Occupational Safety, Health and Working Conditions Code, 2020. (AI image) India’s labour market has long relied on people who work through contractors – across factories, offices, logistics hubs, and service roles. Over the years, the legal framework governing contract…
NEW DELHI: Government plans to raise the issue of the US decision to impose a 100% duty on patented drug imports from India, seeking tariff parity to safeguard the interests of domestic manufacturers. The matter is expected to figure during the trade negotiations with Washington, with New Delhi seeking tariff concessions in line with the…
As the world continues to feel the heat of the ongoing crisis in the Middle East, India’s refiners have swiftly secured enough crude oil and LPG supplies to last till the upcoming weeks.According to sources cited by Reuters, Indian refiners have built up sufficient crude inventories to meet demand through at least August. On the…
