Business

Crude Oil Prices See Biggest Weekly Drop in a Year Amid China Slowdown

By Editor - News Desk October 20, 2024

International crude oil prices logged their biggest weekly decline in a year, with Brent crude futures falling by 1.87% to $73.06 per barrel and US West Texas Intermediate (WTI) settling 2.05% lower at $69.22 per barrel. Brent crude fell over 7% this week, marking its largest decline since September 2022, while WTI saw an 8% […]

Finance

India-Mexico Summit: Sitharaman Boosts Trade Ties in Key Sectors

By Editor - News Desk October 19, 2024

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, participated in the India-Mexico Trade and Investment Summit in Mexico City. The event, themed “Enhancing Trade and Investment Collaboration,” attracted key stakeholders from both nations to explore multi-sectoral cooperation. The summit was organized by the Trade & Commerce Council

Finance

India’s Forex Reserves Drop by $10.7 Billion, Hit $690.43 Billion

By Editor - News Desk October 18, 2024

India’s foreign exchange (forex) reserves saw a sharp decline for the second consecutive week, dropping by USD 10.746 billion to reach USD 690.43 billion for the week ending October 11, according to data released by the Reserve Bank of India (RBI) on Friday. This marks one of the largest decreases in recent times, following a […]

Industry

Reliance Jio Loses 10.9 Million Users After Tariff Hike

By Editor - News Desk October 18, 2024

Reliance Jio, one of India’s leading telecom operators, experienced a significant user loss of over 10.9 million in the second quarter, following a recent increase in recharge plan prices. The company raised its tariff rates, which resulted in a noticeable decline in its customer base. Despite this setback, Jio appears untroubled by the exodus, as […]

Industry

Adani Group to Invest $3 Billion in Semiconductor Manufacturing

By Editor - News Desk October 18, 2024

The Adani Group is set to make a significant move into semiconductor manufacturing with an initial investment of $3 billion over the next 2-3 years, according to a report by Mint on October 16. The Gautam Adani-led conglomerate is reportedly in talks with two Israeli companies to establish separate joint ventures for chip production, signaling […]

Industry

India Sanctions Three Hydrogen Steelmaking Pilot Projects Under Green Mission

By Editor - News Desk October 18, 2024

The Union Government of India has approved three innovative pilot projects aimed at incorporating hydrogen into steel production under the National Green Hydrogen Mission. These projects mark a significant step towards decarbonizing India’s steel sector, one of the most carbon-intensive industries. Green Hydrogen in Steel Production As part of the mission, the

Trade

China Becomes India’s Top Import Source, US Leads in Exports

By Editor - News Desk October 17, 2024

China has emerged as the top import source for India, with inbound shipments worth $56.29 billion during the April-September period of the current fiscal year, as per data released by the commerce ministry. This marks an 11.5% increase from the $50.48 billion worth of imports recorded during the same period in 2023. The rise in […]

Finance

India’s Retail Inflation Surges to 5.49% in September, Driven by Soaring Vegetable Prices

By Editor - News Desk October 15, 2024

India’s retail inflation jumped to 5.49% in September, crossing the central bank’s target range, largely due to a base effect and a sharp rise in vegetable prices. According to data from the Ministry of Statistics and Programme Implementation, the Consumer Price Index (CPI)-based inflation saw a notable increase from 3.65% in August, exceeding the 5.1% […]

Finance

Rupee Falls Below 84 Mark as FPIs Exit, Oil Prices Rise

By Editor - News Desk October 12, 2024

On Friday, the Indian rupee breached the 84-mark, closing at 84.06 against the US dollar due to sustained foreign portfolio investor (FPI) outflows and rising crude oil prices. The domestic currency hit an intra-day low of 84.07 before settling at this new record low. RBI’s Intervention Amid Rupee Weakness The Reserve Bank of India (RBI) […]

Business

Noel Tata Elected as Tata Trusts Chairman After Ratan Tata’s Passing

By BPN News Desk October 11, 2024

Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the new chairman of Tata Trusts, according to a report by CNBC-TV18 on Friday. This significant appointment comes after the passing of the legendary industrialist Ratan Tata on October 9, 2024, at the age of 86. Noel Tata has been closely involved […]