MUMBAI: Sebi chief Tuhin Kanta Pandey on Monday urged the investing community to not panic in the current volatile geopolitical situation even as markets have been sliding and said that it is important not to get too worried at this moment since India’s economic fundamentals are strong.The top markets regulator admitted that global markets are … Read more
US President Donald Trump on Tuesday said that he would remove “some oil sanctions” to reduce the soaring prices as the crude cost hit $100 a barrel amid Iran war.“We’re also waiving certain oil-related sanctions to reduce prices,” he said addressing reporters. “We’re going to take those sanctions off till this straightens out,” he added.Moreover, … Read more
Oil prices surged to $120 a barrel before retreating to $102 Monday as Saudi Arabia was reported to be cutting output, adding to the supply squeeze due to disruption in the Strait of Hormuz.Finance ministers of developed G7 nations, who met Monday evening, deferred plans to tap their strategic reserves to cool down the global … Read more
BENGALURU: Karnataka govt has suspended online sales of Mysore silk saris after surging orders outstripped supply of the GI-tagged weave made with pure mulberry silk, gold zari and silver threads. State-owned Karnataka Silk Industries Corporation will prioritise limited stocks for buyers visiting its exclusive outlets.Sericulture minister K Venkatesh made the announcement in the assembly on … Read more
NEW DELHI: With nearly 40% of India’s LNG flow hit due to the West Asia conflict, govt is working on an “optimisation plan” for industries, including priority segments such as fertiliser. Those familiar with the discussions said the petroleum ministry could work out the arrangement as early as Tuesday, with a reduction in supply to … Read more
Mumbai: Warburg Pincus-backed housing finance company Truhome Finance ( formerly Shriram Housing) has filed draft papers with capital markets regulator SEBI to raise Rs 3,000 crore through an initial public offering.The IPO will comprise a fresh issue of equity shares of face value Rs 10 aggregating up to Rs 1,500 crore and an offer for … Read more
India will not participate in the International Energy Agency’s (IEA) proposal to release strategic petroleum reserves to stabilise global oil markets, government sources said on Monday, even as crude prices surge amid the escalating Middle East conflict, reported PTI.The decision comes as G7 nations consider coordinated releases of emergency oil reserves to calm markets after … Read more
US stock markets tumbled on Monday as a sharp spike in oil prices following the Middle East conflict rattled investors and raised fears about the resilience of the global economy.The S&P 500 fell 1.3%, coming off its worst week since October. The Dow Jones Industrial Average dropped 721 points, or 1.5%, to 9:35 a.m. Eastern … Read more
Lower office rentals are helping Navi Mumbai emerge as a preferred destination for multinational companies and global capability centres (GCCs), with rents in the city about 21% below the average of major Tier-I markets, according to a report by real estate data analytics firm CRE Matrix.The report, ‘Navi Mumbai Rising: A Comprehensive Perspective on India’s … Read more
Benchmark equity indices Sensex and Nifty ended sharply lower on Monday, as surging crude oil prices and weak global cues triggered a broad-based sell-off amid escalating tensions in Middle East.The 30-share BSE Sensex plunged 1,352.74 points, or 1.71%, to settle at 77,566.16, marking its second straight day of decline. During the session, the index had … Read more