Cigarette stocks lit up Dalal Street on Wednesday after reports that manufacturers had raised prices to counter higher tax outgo. Shares of ITC Ltd, Godfrey Phillips India Ltd and VST Industries Ltd climbed by as much as 15%, following media reports that companies have implemented price hikes to pass on the impact of the recent…
NEW DELHI: A Rajasthan BJP MLA sparked a controversy during the assembly debate on the state budget after drawing a gendered comparison between present BJP government’s budget and that of the previous Congress regime.Participating in the debate on Monday evening, Weir MLA Bahadur Singh Koli described the BJP’s budget as a “youth budget” and the…
A senior executive of NVIDIA said on Wednesday India needs to significantly scale up its investment in Artificial Intelligence (AI) infrastructure from the current $1.2 billion to align with global levels, describing the Union Budget’s 20-year tax holiday for foreign companies as a major opportunity to build foundational AI capacity. Speaking at the AI Impact…
Investment manager Brevan Howard’s cryptocurrency fund fell almost 30% last year as the bitcoin BTC$67,409.91 bull run faltered, the Financial Times (FT) reported on Wednesday. The BH Digital Asset fund lost 29.5% of its value, its worst performance in a calendar year since its inception in 2021, according to the report, which cited people familiar…
NEW DELHI: Fugitive businessman Vijay Mallya on Wednesday informed the Bombay high court that he cannot specify when he will return to India as he is legally barred from leaving the United Kingdom.In a statement submitted through his counsel Amit Desai, Mallya said that he does not have an active Indian passport and is also…
Oman’s New Tiered Expat Work Permit Fees: Incentives for Omanisation Compliance The Sultanate of Oman is shaking up how companies hire foreign workers by introducing a tiered fee structure for expatriate work permits that directly ties costs to compliance with national employment targets known as Omanisation. The move, announced this week by the Ministry of…
Bitcoin exchange-traded funds (ETFs) continue to hold billions in assets despite bitcoin’s brutal price crash, but that staying power isn’t necessarily the bullish signal that many have come to believe. According to one analyst, the resilience stems from market makers and arbitrageurs who trade in and out rather than die-hard long-term holders betting on price…
NEW DELHI: Congress leader Rahul Gandhi on Wednesday slammed AI Impact Summit, terming it a “disorganised PR spectacle.”In a social media post on X, the leader of opposition in Lok Sabha claimed that Indian data is up for sale in the event while Chinese products are being showcased.“Instead of leveraging India’s talent and data, the…
Stock market today (AI image) Stock market today: Indian equity benchmarks opened flat in trade on Wednesday. While the 50-share index Nifty was near 25,700, the 30-share BSE Sensex was down marginally. At 9:16 AM, Nifty50 was trading at 25,716.35, down 9 points or 0.035%. BSE Sensex was at 83,438.94, down 12 points or 0.014%.Experts…
The legal challenges from state governments against certain aspects of prediction markets such as Polymarket and Kalshi received a sharp rebuke from U.S. Commodity Futures Trading Commission Chairman Mike Selig, who is arguing that his federal agency has jurisdiction — not the states. “To those who seek to challenge our authority in this space, let…
