MUMBAI: Thanks to the war in West Asia and the ensuing oil price-led shock that the Indian economy is currently facing, top foreign brokerages and analysts have cut earnings estimates for India Inc as well as targets for Nifty by nearly 12%. They also warned that if the war continues for long and the oil…
MUMBAI: RBI has placed consumer empowerment through portable bank accounts and cross-border efficiency at the centre of its Payments Vision 2028, signalling a new focus to improving user experience and reducing friction in money movement.While customers can freely open accounts with any bank, savings accounts are considered ‘sticky’ because of multiple standing instruction to send…
NEW DELHI: The latest Jan Vishwas Bill, moved in Parliament on Friday, has proposed removing imprisonment for several offences related to export of textiles, handloom, and farm products.For instance, under the Textiles Committee Act, exporting and selling textiles or textile machinery in contravention of prescribed order, which can result in a jail term of up…
NEW DELHI: WTO talks in Cameroon are deadlocked over a moratorium on e-commerce with the US seeking a long freeze on countries for levying tax on digital downloads and streaming, while India is so far unwilling to agree to this period.Starting from two years, India has indicated its willingness to go up to four, with…
NEW DELHI: The penalty on nine carmakers that failed to meet the Corporate Average Fuel Efficiency (CAFE-2) targets for three years — FY23 to FY25 — has been revised to Rs 2,728 crore, as per power ministry’s presentation made to the PMO last week. Earlier, the penalty was estimated around Rs 7,800 crore.Earlier, penalty was…
NEW DELHI: Confederation of Indian Industry (CII) on Sunday called upon companies to work with govt to build reserves of raw material, fuel and strengthen supply chains amid disruptions from the West Asia crisis.“The present situation represents a supply side disruption, with pressures transmitted through energy costs, logistics and working capital cycles,” it said in…
Yes, you read the title right. The number of bullish bitcoin BTC$66,645.62 wagers, the so-called BTC/USD long positions, on the OG exchange Bitfinex has hit multi-month highs. But, bulls, hold your cheers, as this metric has become a textbook “contrary indicator” over the years, with upswings characterizing bitcoin’s price downtrends. Highest since 2023 The number…
NEW DELHI: The ongoing West Asia conflict and concerns over energy supplies have prompted govt to explore faster rollout of flexible-fuel vehicles (FFVs), which can run on blended petrol as well as 100% ethanol. At a meeting called by the petroleum ministry on Saturday, original equipment manufacturers (OEMs) flagged the need to address consumer concerns,…
MUMBAI: The RBI’s unorthodox move to steady the rupee by forcing banks to unwind foreign exchange positions beyond $100 million will prevent its slide towards 95, even as markets fret over a possible escalation in the Iran conflict and the prospect of a US ground invasion.The move will also cause banks with large open positions…
Strategy (MSTR), the largest publicly traded holder of bitcoin, did not seem to have increased its BTC position last week. Executive Chairman Michael Saylor usually signals upcoming purchases on X each Sunday, followed by a detailed update around 8 a.m. ET on Monday. There was no customary Sunday “Orange Dot” post to signal a purchase….
