The rupee strengthened 23 paise to settle at 88.50 against the US dollar on Tuesday, supported by upbeat sentiment around a potential US-India trade agreement and easing concerns over the prolonged US government shutdown.At the interbank foreign exchange market, the rupee opened at 88.69 against the greenback, touched an intraday high of 88.50 and a…
AI image (Picture credit: DALL-E) The Indian government has proposed a new rule mandating e-commerce platforms to include filters allowing users to sort products based on their ‘country of origin’, a move aimed at improving transparency and promoting locally made goods.According to news agency Reuters, the draft amendment to the Legal Metrology (Packaged Commodities) Rules,…
Japan’s SoftBank Group Corp has sold its stake in US chipmaker Nvidia for $5.8 billion, signalling a strategic pivot toward artificial intelligence investments, particularly in OpenAI, the company said on Tuesday, AP reported. The tech conglomerate also reported that its profit nearly tripled in the first half of the current fiscal year, driven by strong…
India’s direct tax mop-up rose 7 per cent to over Rs 12.92 lakh crore between April 1 and November 10, lifted by stronger corporate tax inflows and a slowdown in refund issuances, latest government data showed.Refunds fell 18 per cent year-on-year to Rs 2.42 lakh crore during the period, aiding overall net collections, PTI reported….
Net inflows into mutual fund equity schemes slipped nearly 19% month-on-month to Rs 24,690 crore in October, marking the third consecutive monthly decline even as retail SIP investments and gold ETFs remained resilient, data from the Association of Mutual Funds in India (Amfi) showed on Tuesday.Amfi attributed the decline in equity inflows largely to profit-booking…
A delegation of over 20 Indian exporters from the engineering sector has begun a four-day visit to Moscow, aiming to expand trade opportunities in Russia as India looks to diversify its export markets following steep tariff hikes by the United States.According to news agency Reuters, the visit is part of New Delhi’s broader push to…
US-based private equity firm General Atlantic (GA) is close to acquiring a 7% stake in Balaji Wafers for about Rs 2,500 crore (approximately $282 million), valuing the Gujarat-headquartered snack maker at nearly Rs 35,000 crore (around $4 billion). Two people familiar with the matter confirmed that the deal is in its final stages.As per ET,…
MUMBAI :Hotel room demand will outpace supply between FY25 and FY28, despite a 5–6% annual rise in premium room additions according to rating agency Icra. Occupancies are projected to rise 200 basis points to 72–74% in FY26, with average room rates increasing 3–6% to Rs 8,200–8,500. Demand is expected to expand 8–10% annually. “India’s premium…
File photo (Picture credit: AP) Asian stocks continued to climb for a second straight day on Tuesday as signs emerged that US lawmakers were close to resolving the country’s record-long government shutdown. The positive sentiment also lifted global markets, though oil prices remained subdued amid concerns about oversupply and slowing demand.At 0230 GMT, the Nikkei…
India’s domestic growth cycle may be nearing its lowest point, with several supportive economic factors pointing to a possible rebound in the coming months, according to a report by HSBC Mutual Fund.The report noted that low interest rates, steady liquidity conditions, easing crude oil prices and a normal monsoon are all helping to create a…