Business

India’s purchases of Russian crude have remained elevated. (AI image) Making its energy security mandate clear, India has said that it is buying crude oil from Russia irrespective of a sanctions waiver by the US. The statement from Sujata Sharma, joint secretary in the petroleum ministry comes days after a Bloomberg report said that India…

Commerce and Industry Minister Piyush Goyal on Monday urged industry stakeholders to identify products that can be manufactured domestically to reduce India’s dependence on imports and strengthen local production capabilities, PTI reported.Addressing domestic traders, the minister also asked industry to focus on boosting exports and prioritising products made in India over imported goods.“You should keep…

India’s current account deficit (CAD) is likely to widen sharply to 2.3 per cent of GDP in FY27 from 0.9 per cent in FY26 amid elevated oil prices and external sector pressures, according to a report by foreign brokerage HSBC, PTI reported.The report also projected the balance of payments (BoP) deficit to widen to $65…

Mumbai: IPO-bound Muthoot Fincorp sees increased duty on gold adding to loan growth as higher prices post the hike expand borrowing headroom, even as the company has begun tracking end-use of loans from April in line with Reserve Bank of India norms and finds that a majority 70% are for productive purposes rather than consumption.Explaining…

With waiver lapsing, flows are likely to remain broadly stable, although they could ease modestly from March levels. (AI image) The Donald Trump administration may have allowed the sanctions waiver on Russian crude to expire on May 16, but India has made it clear that it will continue to procure oil from Moscow. The sanctions…

US stock indexes traded mixed on Monday as easing Treasury yields and lower oil prices helped calm some investor concerns after last week’s bond-market selloff, according to a Reuters report.The Dow Jones Industrial Average gained 139.25 points, or 0.28 per cent, to 49,665.42 in early trading. The S&P 500 edged up 3.27 points, or 0.04…

With a sanctions waiver in place, India has in the last two months aggressively stepped up purchases of Russian crude oil. (AI image) In a U-turn on its earlier decision, the Donald Trump administration has extended the sanctions waiver on purchase of Russian crude oil at sea. The move comes two days after the earlier…

A federal court on Monday dismissed Elon Musk’s claims against OpenAI and its top executives, bringing an end to a closely watched legal battle over the company’s transformation from a nonprofit research lab into one of the world’s most valuable AI firms.The nine-person jury found that Musk waited too long to file his lawsuit and…

In a significant relief for Gautam Adani, the US Justice Department has withdrawn criminal charges and closed the securities and wire fraud against the billionaire businessman, according to a court filing cited by PTI.“The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these…

US-Iran conflict impact: The global energy shock triggered by the US-Israeli conflict with Iran is now rippling through economies far beyond the Middle East, exposing how deeply interconnected fuel supply chains have become. For example, in India, shortages of cooking gas are emerging, while in California, gasoline prices have surged to nearly $6 per gallon….