IDFC First Bank on Tuesday said it has settled fraud claims at a Chandigarh branch at Rs 645 crore and has found no further discrepancies. Private sector IDFC First Bank had last month disclosed a Rs 590 crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set…
The government has eased foreign direct investment (FDI) norms for countries sharing land borders with India, including China, by amending Press Note 3 of 2020, government sources said on Tuesday, reported news agency PTI.The decision was approved at a Union Cabinet meeting chaired by Prime Minister Narendra Modi, sources added.Under Press Note 3 introduced in…
Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic…
A sharp rise in global crude oil prices triggered by the conflict in the Middle East has pushed fast-moving consumer goods (FMCG) companies to rethink their strategies. Firms may either cut the grammage of product packs or raise prices, according to a report by The Economic Times.International crude prices crossed the $100-a-barrel mark on Monday…
Russian President Vladimir Putin on Monday (local time) warned that the US-Israeli war on Iran has pushed global energy markets into crisis, saying oil flows linked to the Strait of Hormuz could face a complete halt in the coming weeks. He also said Russia remains open to restoring long-term energy cooperation with European nations if…
he US Dollar stands to gain on surging oil prices as the US is energy dependent. (AI image) Gold price prediction today: Gold prices are competing with the strength in dollar amidst the Middle East crisis, says Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan:Gold Performance: In the week ending…
Airline stocks had previously come under heavy pressure as geopolitical tensions pushed oil prices sharply higher. (AI image) Oil prices plunge, bring cheer to aviation stocks! Shares of airline operators IndiGo and SpiceJet surged by as much as 8 per cent on Tuesday after US President Donald Trump indicated that the conflict with Iran could…
MUMBAI: Deteriorating geopolitical situation in West Asia and weak market conditions around the world led to a sharp sell-off on Dalal Street early on Monday resulting in the index plunging nearly 2,500 points. However, late in the session stocks recovered some of the losses as traders speculated about an address by US President Donald Trump…
MUMBAI: The rupee fell to a record low on Monday and closed at 92.33, down 58 paise from Friday’s close of 91.75, as escalating conflict in West Asia pushed crude oil prices to around $119 a barrel and triggered foreign capital outflows from oil-importing markets seeking safer assets. The currency touched a record low of…
NEW DELHI: Finance minister Nirmala Sitharaman on Monday said that the increase in oil prices is unlikely to result in a significant acceleration in inflation. “Given that India’s inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point,” the minister said in response to a question…
