Mumbai: The rupee fell to a record closing low of 94.85 per dollar on Wednesday, declining by 31 paise from its previous close of 94.54, as rising oil prices, stalled geopolitical developments, and continued foreign outflows weighed on the currency.Pressure on the rupee came amid a broader weakening across Asian currencies, with the Philippine peso…
Bengaluru: In a bid to strengthen its AI infrastructure capabilities, Cognizant is acquiring Astreya, a tech firm specialising in AI infrastructure and data centre services, in a deal valued at about $600 million – its third-largest acquisition after Trizetto and Belcan. Astreya manages over 500,000 end users and supports nearly 30% of the world’s data…
May Offer Price And Logistics Advantage New Delhi: The UAE’s exit from Opec may prove significantly beneficial for India, which is looking to secure its energy requirements in the long run following the recent squeeze on supplies amid the military conflict in West Asia, officials in the know said.While Abu Dhabi has taken the decision…
Driven by higher consumption of petroleum products, India’s crude imports in the 2025-26 fiscal increased by nearly 1% but witnessed a 17% fall in purchases in the month of March due to disruption of trade routes amid the West Asia crisis.According to provisional oil and gas data released by the government, India purchased 245.3 million…
New Delhi: With no sight of the Strait of Hormuz (SoH) opening for commercial traffic in near future, shipping ministry has shared a list of around 40 India-bound “priority vessels” with the external affairs ministry, suggesting the option of evacuating them through territorial waters of Oman. Oman’s territorial waters is on the south of SoH…
Jerome Powell (AP file photo) US Fed Federal Open Market Committee (FOMC) meet: Jerome Powell-led US Federal Reserve on Wednesday kept the interest rates unchanged in the 3.5-3.75% range citing upside risks to inflation in view of the rising global energy prices.“Developments in the Middle East are contributing to a high level of uncertainty about…
Crude prices surged to their highest levels since 2022 on Wednesday while investors awaited the Federal Reserve’s policy decision later in the day.Brent crude for June delivery jumped 7.3 per cent to $119.34 a barrel by 1:15 pm Eastern time and touched an intraday high of $119.76. Brent for July delivery, where more active trading…
The government is working on a third edition of the Jan Vishwas Bill that will go beyond decriminalising minor offences and focus on simplifying procedures, reducing compliance burden and making business operations easier, Commerce and Industry Minister Piyush Goyal said on Wednesday.Speaking at the World Bank Group’s workshop on the Business Ready (B-READY) framework, Goyal…
Kevin Warsh (Photo credit-AP) Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, moved a step closer to becoming the next US central bank chief after the Senate Banking Committee approved his nomination on Wednesday, AP reported.The committee voted 13-11 along party lines, with all Republican senators backing Warsh and all Democrats opposing…
Banks will be allowed to extend relief measures to borrowers in calamity-hit areas without waiting for individual requests, under revised Reserve Bank of India guidelines that will come into force from July 1, 2026.The RBI on Wednesday issued fresh directions after considering stakeholder feedback on draft norms covering relief measures in areas affected by natural…
