Venezuelan crude has gained a much bigger share of India’s supply mix since purchases resumed in April. India is increasing its crude oil procurement from Latin America as disruptions arising from the Iran conflict and problems around the Strait of Hormuz prompt the world’s third-largest oil consumer to diversify its sources.Crude oil serves as the … Read more
The bond market, which has remained the main source of turbulence on Wall Street, was still unsettled, but the swings in Treasury yields had moderated. US stock market today: Benchmark indices on Wall Street moved higher on Friday, recovering some of the ground lost during a volatile week. The bond market, which has remained the … Read more
Investors can now use the automatic route, provided they meet the applicable reporting requirements. Under the revised Foreign Direct Investment (FDI) framework, which eased Chinese shareholding rules, 29 proposals worth around Rs 4,895.65 crore, or more than $500 million, have been reported. The changes were introduced in May to allow overseas companies with Chinese shareholding … Read more
Oil products now account for a much larger share of India’s exports to several destinations. India’s oil-products export map is expanding and the country is fast emerging as an important ‘swing supplier’ in the world’s refined fuel markets as the Middle East crisis continues to disrupt flows.As TOI recently reported, Singapore has become India’s third-largest … Read more
SBI cash withdrawal rules change from October 1 From October 1, SBI customers will have to pay Rs 15 plus applicable GST for cash withdrawals beyond the existing limit of four free withdrawals a month. The charge will apply to Basic Savings Bank Deposit (BSBD) accounts opened through the branch channel.The bank said that customers … Read more
The plan will also include local value-addition targets for machines that are currently fully imported (representative image) India is set to approve a $1.2-billion incentive scheme for manufacturing high-value and technologically advanced construction and infrastructure equipment, as the government seeks to reduce the country’s dependence on China for critical machinery, according to two government sources … Read more
PM Narendra Modi had last month flagged off India’s first hydrogen-powered train. Within a month of launching its first hydrogen-powered train, Indian Railways is now looking for cheaper green hydrogen options to expand operations. Indian Railways is considering several measures to expand the pool of green hydrogen suppliers and bring down procurement expenses, including providing … Read more
Gold’s technical structure remains strongly bullish, supported by a sustained sequence of higher highs and higher lows. Gold price prediction today: Gold prices are showing a technically bullish trend, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. However, he believes that traders should not look to chase the rally at higher … Read more
Rupee rises 9 paise against US dollar Rupee began Friday on a strong note against the US dollar, gaining 9 paise to 95.65 as the American currency weakened in overseas markets.The recovery, however, remained constrained by elevated crude oil prices, according to forex traders.At the interbank foreign exchange, rupee started the session at 95.69 before … Read more
Govt has directed the telecos to strictly enforce the rule of not issuing a new connection to any subscriber already having nine SIMs (representative image) The government has directed telecom service providers to stop individuals from obtaining mobile connections beyond the prescribed limit of nine, with a new system coming into effect from August 24.Under … Read more