With fears growing over the economic impact of surging oil costs, U.S. Treasury Secretary Scott Bessent said Thursday evening that the Trump administration is taking steps to promote stability and lower energy prices. “To increase the global reach of existing supply, the U.S. Treasury is providing a temporary authorization to permit countries to purchase Russian…
MUMBAI: The rupee hit a record low of 92.36 against the dollar on Thursday after attacks on oil tankers in the Strait of Hormuz pushed up crude prices, though the currency recovered to close at 92.19, down 15 paise from the previous session. It ended the session down 0.16%.Brent crude futures rose to a peak…
MUMBAI: A technical tweak in the way banks report fortnightly balance-sheet data may swell India’s credit numbers by more than Rs 2 lakh crore this year and lift measured loan growth by over a percentage point. The change concerns the date on which banks report credit and deposit figures to the RBI, a schedule that…
NEW DELHI: Centre on Thursday justified the exclusion of transgender persons, men having sex with men, and female sex workers from list of potential blood donors, saying the decision was not discriminatory but one based on health studies which found six to 13 times higher incidence of HIV among these groups.Additional solicitor general Aishwarya Bhati…
The United States has temporarily permitted the sale of Russian oil already in transit, according to a treasury department notice issued on Friday. This comes as energy prices surged following US-Israeli strikes on Iran that pushed the Middle East into war.The treasury granted a license allowing transactions involving Russian crude oil and petroleum products loaded…
NEW DELHI: Retail inflation inched up by 47 basis points in Feb, largely led by an increase in food & beverages and personal care & effects inflation. The West Asia conflict is likely to add further pressure.Data released by the National Statistics Office (NSO) on Thursday showed retail inflation, as measured by the consumer price…
The European Union’s recently-adopted Markets in Crypto Assets (MiCA) regulations is beginning to reshape the region’s digital-asset industry, creating new opportunities and barriers for firms seeking to operate across the bloc, a Swiss-based crypto wealth platform said. Swissborg, which boasts one million registered users and $1.3 billion in assets under management (AUM), is among the…
NEW DELHI: In an unusual development, TMC MPs had sought an appointment with President Droupadi Murmu to apprise her about the welfare initiatives taken by the Bengal govt. However, Rashtrapati Bhavan turned down their request citing “paucity of time”, as per sources.This comes after a political row errupted over allegations of protocol lapses during Murmu’s…
NEW DELHI: As part of its tariff pressure, the US Trade Representative has launched a section 301 investigation against 15 countries, including India, to ascertain if there is structural excess capacity and production in manufacturing sectors.Based on the outcome of the probe – which follows US Supreme Court’s rejection of Donald Trump’s reciprocal tariff using…
BENGALURU: With the West Asia crisis escalating and recent Iranian strikes targeting the UAE, several IT companies and global capability centres (GCCs) have activated their business continuity plans (BCPs), introducing measures such as work-from-home, travel advisories and temporary office closures.Amid rising geopolitical uncertainty, many tech firms and GCCs are increasingly relying on India as a…
