Public sector banks (PSBs) have registered their strongest advance growth since 2010, surpassing private lenders for the first time in over a decade. According to a Systematix Group report cited by news agency ANI, PSBs reported 12.2% year-on-year growth in advances in FY25, compared to 9.5% by private sector banks (PVBs).The report noted that PSBs…
Container freight rates are expected to remain subdued for the rest of FY26 as uncertainty in global trade continues, driven by US President Donald Trump’s unpredictable tariff policies, industry experts said. According to ET, exporters rushed shipments to the US ahead of the August 27 deadline for a steep 50% tariff on Indian goods, targeting…
Japanese and Taiwanese electronics and semiconductor companies are exploring the development of country-specific housing corridors in Dholera, Gujarat, to accommodate expat employees working on India’s first chip fabrication unit.Tokyo Electron Ltd (TEL) from Japan and Taiwan’s PSMC, both partners in the Tata Group’s upcoming Dholera fab, are reportedly considering private housing facilities for their staff….
BENGALURU: BharatGen, India’s first government-backed multimodal sovereign AI initiative, was awarded Rs 988.6 crore in funding by the ministry of electronics and information technology (MeitY). The announcement was made by Union IT minister Ashwini Vaishnaw in New Delhi on Friday. The allocation makes BharatGen the largest beneficiary of the Rs 1,500 crore IndiaAI Mission 2025,…
Japan’s Rating and Investment Information, Inc. (R&I) has upgraded India’s long-term sovereign credit rating from ‘BBB’ to ‘BBB+’ with a Stable Outlook, marking the country’s third sovereign rating upgrade in 2025. The move emphasizes confidence in India’s domestic demand-driven growth and prudent fiscal management, the Government of India announced on Thursday.“Despite the uncertainties surrounding the…
Wall Street was on course to close another record-setting week on Friday adding $15 trillion in value, buoyed by optimism that the Federal Reserve will continue to ease interest rates to support the economy.By early afternoon, the S&P 500 was up 0.3%, the Dow Jones Industrial Average gained 129 points or 0.3%, and the Nasdaq…
Adani Group companies gained over Rs 66,000 crore in market cap in a single session on Friday, fuelled by a buying frenzy following Sebi’s clean chit in the Hindenburg case. The gain marked the best day for the Gautam Adani-led group’s stocks since May, Bloomberg reported.The regulator’s order, which dismissed allegations of stock manipulation and…
NEW DELHI: Japanese credit rating agency Rating and Investment Information (R&I) on Friday upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’ and retained the “stable” outlook, citing growth prospects, progress on fiscal consolidation, and reforms undertaken by govt. This is the third upgrade by a sovereign credit rating agency this year, following S&P’s…
RBI governor Sanjay Malhotra (File photo) MUMBAI: RBI governor Sanjay Malhotra on Thursday urged the Clearing Corporation of India (CCIL) to expand beyond dollar-rupee trades by creating settlement infrastructure for other currency pairs, as part of efforts to deepen markets and internationalise the rupee.“Given the broader objective of internationalisation of INR, CCIL could explore the…
NEW DELHI: Apple‘s new-gen iPhone17 smartphone had a bumper opening in India with top variants – Pro and Pro Max – getting sold out across many locations as the American giant also grew fastest in first half of the year, ahead of mass brands, such as Vivo, Oppo, and realme.iPhone sales in the Jan-June’25 period…