The Cabinet on Saturday approved a 2 per cent increase in Dearness Allowance (DA) for Central government employees, as per sources.This comes amid wider demands from employee bodies for major changes in pay structure under the proposed 8th Pay Commission.In its memorandum, the National Council-Joint Consultative Machinery (NC-JCM) has sought a higher fitment factor of…
The United States decided to extend the sanctions waiver on Russian oil, offering temporary relief to countries purchasing crude from Moscow as the world grapples with tight energy supplies. The US treasury department on Friday issued a fresh licence allowing the purchase of Russian oil and petroleum products that had already been loaded onto ships…
Wall Street benchmarks closed at record highs on Friday, as easing geopolitical tensions in West Asia fuelled a broad risk rally across global markets, sending equities higher and oil lower.The S&P 500 and Nasdaq Composite notched their third straight record closes, while the Dow Jones Industrial Average posted its strongest finish since late February. Gains…
The US administration has decided to extend a narrow window for global buyers to purchase Russian oil shipments already at sea, despite earlier indications that such relief would not continue.Late Friday, the US Treasury Department published a new licence granting a roughly month-long waiver, which allows nations to buy Russian oil and petroleum products loaded…
NEW DELHI: India’s smartphones market has opened 2026 on a weak note, recording its slowest start in six years as shipments slipped 3% year-on-year in the March quarter, according to Counterpoint Research. The decline may appear modest, but the underlying pressures suggest a more persistent demand slowdown.As per the report, smartphones are getting pricier, and…
MUMBAI: The opening of the Strait of Hormuz, one of the most important shipping channels in the world for the flow of crude oil and natural gas, led to a global rally in stocks on Friday evening. This also overshadowed the muted trading witnessed during the early part of the day in all of Asia…
MUMBAI: UltraTech Cement will cross 200 million tonnes of capacity after commissioning three grinding units totalling 8.7 million tonnes on Friday, cementing the Aditya Birla Group company’s position as the world’s largest cement producer outside China, with capacity nearly double that of the United States and exceeding the whole of the European Union. The milestone…
MUMBAI: Vijay Singh, a former Indian defence secretary whose eligibility as a trustee has come under legal challenge, absented himself from the board meeting of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution on Friday, the latest sign of an intensifying governance dispute within India’s most powerful philanthropic network.The challenge was brought by Mehli Mistry,…
Mumbai: The rupee regained 92 levels and closed at 92.93, 27 paise stronger then its previous close. The gains followed reports that the RBI has asked oil companies to not purchase dollars from the open market but to rely on a line of credit provided through SBI.Such a move would remove one of the major…
NEW DELHI: Indian oil companies, fertiliser importers and exporters are cheering the opening of the Strait of Hormuz for global commercial vessels.There are 41 India-bound ships, both Indian and foreign-flagged, loaded with cargo, including crude, LPG, LNG and fertiliser, that are waiting to cross the narrow channel, where Iran has blocked normal movement since Feb…
