Business

The government on Friday imposed a windfall gains tax of Rs 3 per litre on petrol exports while reducing export levies on diesel and aviation turbine fuel (ATF), as crude oil prices remained elevated amid the ongoing West Asia conflict, PTI reported.The revised rates will come into effect from May 16.According to finance ministry notifications,…

What do the new agreements between UAE and India entail? How will India’s energy security plans get a boost? (AI image) India’s energy security received a major boost on Friday when two important Memorandum of Understanding (MOUs) were signed during PM Narendra Modi’s visit to the UAE on Friday. India imports close to 90% of…

Russian Foreign Minister Sergey Lavrov on Friday said crude oil supplies from Russia to India have increased despite Western sanctions and mounting geopolitical pressure, ANI reported.Speaking on the sidelines of the BRICS Foreign Ministers’ Meeting in New Delhi, Lavrov said the rise in Russian oil exports to India was reflected in publicly available data.“We published…

Wall Street retreated sharply on Friday as a sell-off in artificial intelligence-linked technology stocks and rising concerns over inflation triggered by elevated oil prices pushed major US indices lower from record highs, AP reported.The S&P 500 fell 1.1 per cent after hitting an all-time high a day earlier, while the Dow Jones Industrial Average dropped…

After the hike today, petrol is now retailing at Rs 97.7 per litre in Delhi. (AI image) A hike in petrol and diesel prices has been in the offing for some weeks now, and hence today’s Rs 3 per litre raise comes as no surprise. This is especially true since there is no early resolution…

India’s foreign exchange reserves jumped by $6.295 billion to $696.988 billion during the week ended May 8, helped largely by a sharp rise in gold reserves, PTI reported citing Reserve Bank data released on Friday.The overall forex kitty had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s reserves had touched an…

Gold hallmark numbers are often overlooked, yet they quietly reveal one of the most important details about jewellery. Most people only notice them after years of wearing a ring or necklace, when curiosity finally kicks in. These tiny stamps, like 375, 585, 750, 916, and 999, are not random. They are a direct measure of…

Asian markets mostly declined on Friday as investor optimism around artificial intelligence stocks faded amid rising concerns over inflation, elevated oil prices and uncertainty surrounding the Iran war.Japan’s Nikkei 225 fell 1.2% to 61,880.04, while South Korea’s Kospi dropped 3.2% to 7,727.34 after briefly crossing the 8,000 mark for the first time.The sharp reversal came…

India’s merchandise trade deficit widened sharply to $28.38 billion in April as imports rose 10 per cent year-on-year despite a steep decline in inbound shipments from Middle East amid continuing geopolitical disruptions.Government data released on Friday showed India’s imports increased to $71.94 billion in April from $65.38 billion in the year-ago period, while exports stood…

NEW DELHI: Petrol and diesel prices were hiked by Rs 3 per litre each on Friday after state-run oil companies faced mounting losses due to a sharp rise in global crude oil prices triggered by the ongoing West Asia conflict.Petrol in Delhi now costs Rs 97.77 per litre, up from Rs 94.77, while diesel prices…