Business

Nayara Changes Payment Terms After EU Sanctions

By BPN News Desk
Nayara Energy has revised the payment terms for its latest naphtha export tender in response to recent sanctions imposed by the European Union. The company now requires advance payment or an irrevocable letter of credit for the cargo, which is scheduled for loading between August 14 and 18. The cargo volume is expected to be […]
Business

Rosneft Slams EU Sanctions on Nayara Refinery

By BPN News Desk
The European Union has imposed sanctions on Nayara Energy’s Vadinar refinery in Gujarat as part of its latest package targeting Russia. The move comes amid tightened restrictions on petroleum products refined from Russian crude. Nayara Energy, a major private refiner in India, is 49% owned by Russian energy giant Rosneft. Rosneft Calls Action a Violation […]
Business International

EU Sanctions Target Russian Stake in Nayara

By BPN News Desk
The European Union has added Nayara Energy to its latest sanctions aimed at Russia, targeting refined petroleum products made from Russian crude. Nayara, based in Vadinar, Gujarat, is nearly half-owned (49.13 %) by Russia’s Rosneft. The move could affect Rosneft’s planned sale of its stake to Reliance Industries, raising doubts over the deal’s future. What the […]
Business Finance

Panel Clears Income Tax Bill With 285 Changes

By BPN News Desk
The Parliamentary Standing Committee has approved the Income Tax Bill, 2025 with a total of 285 suggested changes, aiming to simplify tax procedures, reduce litigation timelines, and improve overall compliance. The bill is set to be introduced in the upcoming Monsoon Session of Parliament, with implementation targeted for the next financial year. One of the […]
Business Finance

UPI‑PayNow Links 19 Banks for SG Transfers

By BPN News Desk
The National Payments Corporation of India (NPCI) has expanded the UPI‑PayNow facility by adding 13 more Indian banks to its international remittance network. With this update, a total of 19 Indian banks can now facilitate real-time cross-border fund transfers between India and Singapore. Real-Time Transfers Made Easier The UPI‑PayNow integration allows Indian residents to
Business Markets

Asian Markets Slide Amid US Inflation Worries

By BPN News Desk
Asian stock markets declined on Wednesday following the release of stronger-than-expected US inflation data, which dampened hopes of an early interest rate cut by the Federal Reserve. Japan’s Nikkei 225 slipped 0.3%, while Hong Kong’s Hang Seng Index also lost 0.3%. Markets in South Korea, Australia, and China saw marginal losses. The US dollar strengthened, […]
Business Finance

PSBs’ Sub‑Prime Lending Rises With Govt Backing

By BPN News Desk
Public sector banks (PSBs) in India are seeing a steady rise in sub‑prime lending, driven by increased reliance on government-backed credit guarantee schemes. These loans are primarily extended to micro, small, and medium enterprises (MSMEs), startups, and low-income individual borrowers who typically lack sufficient collateral or formal credit history. Credit Confidence

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