Business
Bajaj Finserv sets up unit to invest in new age ventures
MUMBAI: Bajaj Finserv has launched a new division, Finserv Intelligence, which it may carve out as a separate business in future. Through Finserv Intelligence, Bajaj will invest Rs 1,500 crore to Rs 2,000 crore in early-stage start-ups in AI/fintech, cybersecurity and consumer technology platforms, and will also co-create new ventures. By building applied research capabilities…
Sanctions war on? US tightens curbs on Iran oil despite probable deal to ease Hormuz movement
United States on Thursday imposed fresh sanctions targeting Iran’s military-linked oil trade network, despite reports suggested that Washington and Tehran have reached a tentative agreement to extend their ceasefire and ease restrictions on shipping through the Strait of Hormuz.The US Treasury Department said it has sanctioned eight vessels involved in transporting Iranian crude oil and…
‘India, Canada to skip sensitive areas in trade pact talks’: Piyush Goyal
New Delhi: India and Canada have decided to focus on low-hanging fruit, work on areas of convergence and avoid seeking concessions in sensitive sectors in the negotiations for the proposed free trade agreement, commerce and industry minister Piyush Goyal has said. The two countries are negotiating a Comprehensive Economic Partnership Agreement (CEPA). The third round…
Heat beats price hikes: Summer products’ sales zoom
MUMBAI: Indians are turning to ice creams, colas, soft drinks and packaged cold coffee to survive the scorching heat, spurring sales of summer products for consumer goods companies and nudging some to upwardly revise their earlier sales estimates for the season.In a summer of price hikes and broader inflationary environment, firms are however pushing lower…
Now, fraudsters target dormant e-commerce accounts
MUMBAI: You probably do not care much about your inactive accounts on online platforms such as Amazon or Flipkart. But do you know that your dormant e-commerce accounts are being targeted by fraudsters?Unlike financial transactions which usually leave a trail and are notified to users through mobile alerts or messages, suspicious transactions made through e-commerce…
Oil prices today: Crude drops below $95 amid US-Iran ceasefire extension speculation
Oil prices fell slightly on Friday after reports of a potential extension of a US-Iran ceasefire amid the ongoing Middle East conflict that has stretched beyond three months.Prices of Brent crude fell 0.37% to $93.36 a barrel, while US oil futures slipped 0.71% to $88.27 a barrel, as traders reacted to shifting signals around a…
How India’s net FDI went from $28 billion to $1bn in 2 years
FDI was supposed to be the dependable kind of foreign money — the kind that built factories, brought technology and stayed for the long haul. FPI was the flighty cousin, quick to exit when markets turned. But India’s net FDI has now shrunk to a trickle as rising repatriation and disinvestment offset strong inflows. What…
US homebuyers face fresh pressure as mortgage rates climb to 9-month high
Rising mortgage rates are adding to pressure on the US housing market, with the average long-term home loan rate climbing to its highest level in nine months and further weakening affordability for buyers, AP reported.Freddie Mac said on Thursday that the average rate on a 30-year fixed mortgage rose to 6.53 per cent from 6.51…
India’s energy investment likely to reach record $170 bn in 2026: IEA
New Delhi: India’s energy investment is likely to reach a record $170 billion in 2026, driven by a push towards renewable energy capacity addition, strengthening of transmission and distribution networks, and deployment of storage systems to support the grid and reduce curtailment, the International Energy Agency (IEA) said in its latest report.The power sector accounts…