Business

AI image used for representative purposes Following improved India-China relations, the authorities, including the International Financial Services Centre Authority (IFSCA), are evaluating a banking sector proposal to enable International Banking Units at Gujarat International Finance Tec City (GIFT City) to conduct transactions in offshore renminbi (CNH).GIFT City operates as a global financial services hub, serving…

India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime intelligence…

The Japanese conglomerate, with its extensive AI investment portfolio spanning various sectors, saw a substantial $32 billion reduction in market capitalisation. (AI image) SoftBank Group’s shares saw a dramatic 14% decline on Wednesday, accompanied by broader falls across Asian AI-related companies, reflecting similar drops in their US counterparts. Investors displayed increasing caution towards the high…

Photos shared by @the2ndfloorguy on X In a quirky twist of technology and trading, an X user has shared photos showing how their Zerodha stock portfolio now controls their bedroom lights. The images show the lights turn red whenever the portfolio suffers a loss, offering a literal—and visually striking—signal of market swings.The innovation was shared…

Morgan Stanley MD Ridham Desai (File photo) Morgan Stanley’s MD Ridham Desai, one of India’s most closely watched equity strategists, says his bullish stance on Indian markets is rooted in structural changes that have transformed the economy’s fundamentals over the past decade.Speaking at the Business Standard BFSI Summit, Desai — who has now been bullish…

The United States has entered uncharted territory as the ongoing government shutdown surpassed all previous records, becoming the longest-ever on Wednesday, exceeding the 35-day benchmark set during Donald Trump’s first term. The stalemate—rooted in a bitter dispute over healthcare spending—has left federal agencies shuttered, key welfare programmes suspended, and millions of Americans bracing for deepening…

China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff.According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “for one year, the…

On MCX futures, Gold (CMP Rs 1,20,950), upside could face resistance in the range of Rs. 1,23,000 – 1,24,600. (AI image) Gold price prediction today: Gold prices are expected to continue facig pressure as dollar strengthens, says Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers. He shares his views and…

Banks across several states will remain closed on Wednesday, November 5, in observance of Guru Nanak Jayanti and Kartik Purnima. With physical branches shut in multiple regions, customers planning in-person visits or time-sensitive transactions are advised to check local schedules in advance. States observing a bank holiday on November 5 According to the Reserve Bank…

MUMBAI: State Bank of India (SBI) reported a 10% rise in standalone net profit for the quarter ended Sept, aided by a one-time gain from the sale of its stake in Yes Bank and steady loan growth. During the quarter the bank’s total business crossed the Rs 100 lakh crore-mark. The bank’s standalone net profit…