India’s foreign exchange reserves broke their 8 week long rising streak, falling $2.06 billion in the week ending 2 May, as per the latest data from the Reserve Bank of India (RBI).The fall brings India’s total forex reserves down to $686.06 billion, after they had surged $1.98 billion to $688.13 billion in the week ending…
Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) NEW DELHI: Finance minister Nirmala Sitharaman on Friday asked all banks to remain fully alert and prepared to deal with any eventuality or crisis. She emphasised the need to ensure uninterrupted access to banking and…
Image used for representative purposes MUMBAI: The suspension of IPL – India’s most heavily insured sporting event – has brought renewed scrutiny to the utility and limits of event insurance amid geopolitical tensions. Howden, the insurance broker to the BCCI, acknowledged the suspension and said it would wait for an official decision on cancellation or…
NEW DELHI: Turkiye and Azerbaijan, hot favourites of holidaymakers, are fast falling out of favour after the two countries’ steadfast support to Pakistan during Operation Sindoor and travel companies have stopped new bookings.Stating that it has paused all new travel offerings to Azerbaijan, Uzbekistan, and Turkiye, Cox & Kings said it was “aligned with the…
NEW DELHI: Domestic medical device firms are bullish about expanding business under the India-UK Free Trade Agreement (FTA), with some aiming to double their export quantities from single-digit levels. Significantly, the FTA has lowered tariffs on key devices, which could reduce prices on imported devices and savings for Indian patients on medical bills. However, experts…
India abstained from voting on IMF loan package for Pakistan NEW DELHI: India raised concerns during Friday’s International Monetary Fund’s Executive Board meeting regarding IMF’s financial assistance to Pakistan. While abstaining from voting, India said, “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and of adherence…
Representative AI image (Credit: Bing image creator) MUMBAI: Amid escalating tensions between India and Pakistan, companies are putting precautionary measures in place to ensure safety of employees and minimise impact on operations.Dabur is operating its factory in Jammu only during the daytime for now and will reassess the situation on Monday before deciding on a…
BENGALURU: Food and grocery delivery platform Swiggy’s revenue from operations rose 35% year-on-year to Rs 15,227 crore, driven by double-digit growth in food delivery and a doubling of Instamart’s order value.Its net loss widened to Rs 3,117 crore for FY25, from Rs 2,350 crore in the corresponding period last year, as the company sharply ramped…
Bank of India reported a robust 82% year-on-year increase in its net profit for the January-March 2025 quarter, reaching Rs 2,626 crore. This surge was primarily driven by significant treasury gains and a substantial rise in recoveries from written-off accounts.The bank’s core net interest income (NII) grew by 2% to Rs 6,063 crore, while other…
Citing sustained structural reforms, improved fiscal metrics, and macroeconomic resilience, global rating agency Morningstar DBRS has upgraded India’s sovereign credit rating to ‘BBB’ with a stable trend.The agency said the rating revision reflects India’s strengthened economic fundamentals, supported by continued infrastructure investment, digital transformation, and a more robust banking sector.“The upgrade reflects Morningstar DBRS’s view…
