MUMBAI: The rupee on Wednesday closed at 91.70 against the dollar, down 72 paise from Tuesday’s close of 90.98, as global bond market weakness, geopolitical tensions and persistent capital outflows weighed on sentiment, pushing the currency to a fresh all-time intraday low of 91.74.The currency weakened steadily through the session, marking its sixth consecutive day…
President Donald Trump said Wednesday he is nearing the end of a search to replace Federal Reserve Chair Jerome Powell and hinted he has his candidate in mind. In a CNBC interview at the World Economic Forum in Davos, Switzerland, the president said a search that began in September and once included as many as…
In daily life, most people focus on how much tax they pay, but rarely on when and how it is collected. An increasingly visible part of India’s tax ecosystem is tax collected at source (TCS), which requires a portion of tax to be collected upfront on certain transactions. For many taxpayers, the timing of this…
NEW DELHI: The power ministry’s draft National Electricity Policy (NEP) 2026, released Wednesday, has proposed an annual reset of tariffs, including an index-linked automatic revision in case the regulator fails to act to ensure sound financial health of power utilities, while seeking to limit cross-subsidies for manufacturing units and railways, in an attempt to make…
MUMBAI: Unabated rally in gold and silver prices continued with the yellow metal trading near the $4,900 per-ounce mark, an all-time high level while the white metal traded near the $95/oz mark. Geopolitical uncertainties and trade-related disruptions are the main factors for the rally in gold. In addition, demand for silver outstripping supply around the…
The Shark Tank investor is preparing shovel-ready sites for bitcoin miners and data centers, betting that infrastructure — not tokens — will drive the next wave of value. Source link
MUMBAI: Outward remittances by resident Indians under the Liberalised Remittance Scheme fell in Nov 2025 to a two-year low partly because of a dip in education-related travel and also because of seasonality.Total outflows slipped to $1,937.2 million from $2,364.5 million in Oct, an ~18% sequential drop, and edged below $1,946.4 million in Nov 2024. The…
MUMBAI: Dalal Street witnessed extreme volatility on Wednesday with the sensex rallying from more than 1,000 points down to over 300 points up within a couple of hours. The index finally settled 271 points down at 81,910 points, its first close below the 82,000 mark since Oct 8 last year.Geopolitical and global economic factors were…
MUMBAI: RBI has said that the first advance estimates of real GDP growth for 2025-26 reflected the resilience of the Indian economy, driven by domestic factors amid a challenging external environment, adding that high-frequency indicators for Dec pointed to continued buoyancy in growth impulses with demand conditions remaining upbeat. In its State of the Economy…
NEW DELHI: Union cabinet on Tuesday approved the continuation of Atal Pension Yojana (APY) up to 2030-31, along with extension of funding support for promotional and developmental activities and gap funding. PM Narendra Modi said the decision will ensure old-age income security for low-income group and workers in unorganised sector. APY offers a guaranteed pension…
