Business

The average long-term US mortgage rate has climbed for the fifth consecutive week, reaching its highest level in nearly seven months and adding to affordability challenges for homebuyers during the crucial spring housing season, according to AP.The benchmark 30-year fixed mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said. A…

The Reserve Bank of India has allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports beyond immigration or customs checkpoints, according to PTI. Earlier, such counters were permitted only to buy Indian rupees from non-residents and sell foreign currency to them. “On a…

US stock markets declined sharply on Thursday, while oil prices surged, after President Donald Trump vowed to continue military action against Iran and did not provide a clear timeline for de-escalation of the conflict in the Middle East, according to AP.The S&P 500 fell 1.1%, with nearly three out of every four stocks in the…

As the US observes Good Friday on April 3 ahead of Easter Sunday on April 5, most essential services will continue without disruption since the day is not designated as a federal holiday.In the Christian calendar, Good Friday marks the crucifixion and death of Jesus Christ and has long been associated with mourning, penance and…

New Delhi: Centre will make three major NH stretches passing through Delhi largely signal free to reduce congestion and travel time, the road transport ministry informed the Lok Sabha on Thursday. While the NH stretches from Ashram to Badarpur, Mehrauli to Gurgaon and Punjabi Bagh to Tikri Border will be mostly signal free by building…

The government has asked oil refineries to divert part of the feedstock used for cooking gas (LPG) towards petrochemical units, as industries grapple with acute raw material shortages triggered by supply disruptions amid the West Asia conflict, according to PTI.The Ministry of Petroleum and Natural Gas on April 1 directed refiners to allocate a portion…

The rupee staged a sharp rebound on Thursday, rising 156 paise or 1.6 per cent to settle at 93.14 (provisional) against the US dollar, logging one of its steepest single-day gains in many years after regulatory measures by the Reserve Bank of India (RBI), according to PTI.The surge followed a series of steps by the…

Benchmark equity indices, Nifty50 and BSE Sensex staged a sharp recovery on Thursday, erasing steep intraday losses to end higher, supported by value buying in IT and banking stocks and a strong rebound in the rupee.The 30-share BSE Sensex rose 185.23 points, or 0.25 per cent, to settle at 73,319.55 after plunging 1,588 points in…

CLSA has an outperform rating on Bharti Airtel with the target price at Rs 2,320, up marginally from Rs 2,310 earlier. Analysts said Bharti Airtel is accelerating investments in data centre subsidiary Nxtra Data to $1 billion. Nxtra will ramp up capacity from 300MW to 1GW targeting a 25% market share. Bharti will retain a…

Gold prices fell sharply on Thursday in futures trade, declining by Rs 6,004 to Rs 1,47,704 per 10 grams on the Multi Commodity Exchange, as geopolitical tensions in West Asia intensified and strengthened the US dollar, dampening investor sentiment.The decline marked a reversal from a four-day winning streak, with the June contract of the yellow…