MUMBAI: Federal Bank said it agreed to acquire a select credit card portfolio of around 4.5 lakh cards from Standard Chartered Bank, India, comprising customers with standalone card relationships. The transaction will strengthen Federal Bank’s retail strategy with a sharper push in the non-co-branded segment. and provide access to a seasoned, high-quality customer base. The…
The rupee hit a record low of 95.33 against the dollar on Thursday, driven by surging crude oil prices and concerns over inflation and capital flows. Suspected RBI intervention helped the currency recover to close at 94.91, though it remains under pressure. The outlook for the rupee is closely tied to the trajectory of global…
MUMBAI: Hindustan Unilever (HUL) has hiked prices by 2-5%, signalling more increases could be in the offing going ahead as the company copes with a 8-10% cost inflation on the back of the West Asia war that sent oil prices soaring, weighing on raw material costs for a host of consumer goods ranging from detergents…
NEW DELHI: Russia remained the largest source of crude for India in April, supplying 1.6 million barrels a day (mbd), followed by Saudi Arabia, the UAE, Venezuela and Qatar, data from shipment-tracking firm Kpler has shown.India imported nearly 4.4 mbd of crude in April, marginally lower than in March (4.5 mbd) and 85% of Feb…
Representative image (AI-generated) US President Donald Trump on Thursday announced that he would remove tariffs and restrictions on whiskey linked to trade between Scotland and the US state of Kentucky.In a post on Truth Social he wrote, “In Honor of the King and Queen of the United Kingdom, who have just left the White House,…
NEW DELHI: Monthly domestic urea production has rebounded to last year’s levels, fertiliser ministry said on Thursday, noting that output of the most widely used soil nutrient reached 21 lakh tonnes in April, which was the same as the level recorded a year earlier.In March, domestic urea output had tumbled to around 16 lakh tonnes…
New Delhi: Govt on Thursday replaced National Building Code (NBC) with National Building Construction Standards (NBCS) by withdrawing the earlier code. The new standards will serve more as guidelines, with this being done following directives from Deregulation Cell under Cabinet Secretariat.TOI has learnt that one of the main reasons for replacing NBC with NBCS was…
Indian markets are set for a shortened trading week, with the NSE and BSE remaining closed on Friday, May 1, for Maharashtra Day. The holiday will pause trading across equity, equity derivatives and related segments.For investors planning trades or settlements, Friday’s closure will be the latest scheduled market break after the April 14 holiday observed…
Two months after the US-Israel war with Iran began on February 28, the human and fiscal costs are already substantial. The death toll in Iran alone is estimated at between 3,000 and 6,000, while the US military campaign has cost about $25 billion so far, according to the Pentagon’s first official estimate. The economic costs,…
Infosys has appointed Hindustan Unilever Ltd’s non-executive chairman Nitin Paranjpe as non-executive vice chairman of its board with immediate effect, PTI reported on Wednesday.“The Board of Directors has approved the appointment of Nitin Paranjpe as non-executive Vice Chairman of the Board with immediate effect,” the company said in a statement.Paranjpe is also non-executive vice chairman…
