India’s crude processing by refiners fell in April as supply disruptions linked to the Middle East conflict changing crude sourcing patterns and maintenance shutdowns weighed on refinery operations, according to provisional government data reviewed by Reuters.India processed 5.23 million barrels per day (mbpd), or 21.39 million metric tonnes of crude oil in April, down 8.9 … Read more
Savers could see higher returns on bank deposits in the coming months as the cost of certificates of deposit (CDs), which had been viewed as a leading indicator for broader deposit rates, surged sharply in May amid tighter liquidity conditions and stronger demand for funds.One-year CD rates are currently quoting at 7.70 per cent, up … Read more
The rupee weakened by 44 paise to close at 95.70 against the US dollar on Tuesday, pressured by renewed geopolitical tensions in West Asia, rising crude oil prices and a stronger American currency, PTI reported.Forex traders said weak domestic equities also added pressure on the local currency.At the interbank foreign exchange market, the rupee opened … Read more
Wall Street moved higher on Tuesday as investors reacted to signs of progress in negotiations over the Iran conflict, while technology stocks extended gains and easing bond yields provided additional support, AP reported.The S&P 500 rose 0.5 per cent after trading resumed following Monday’s holiday. The Dow Jones Industrial Average gained 53 points, or 0.1 … Read more
A board meeting of Tata Sons, the holding company of the Tata Group, concluded in Mumbai on Tuesday amid reports of discussions around leadership and concerns over the performance of some group businesses, PTI reported.Directors, including Tata Trusts chairman Noel Tata, arrived at the group’s headquarters, Bombay House, in the morning and left in the … Read more
British oil giant BP has removed Albert Manifold as chairman less than a year after he took over the role, citing what it described as “serious concerns” over governance, oversight and conduct at the company, AFP reported.The company announced on Tuesday that board member Ian Tyler has been appointed interim chairman with immediate effect.“The board … Read more
State-run Union Bank of India on Tuesday approved plans to raise up to Rs 8,000 crore through a mix of debt and equity instruments, PTI reported.In a regulatory filing to the BSE, the bank said its board had approved raising debt capital of up to Rs 5,000 crore through Basel III-compliant Additional Tier-1 bonds and/or … Read more
Rising silver prices are not just pushing investment demand, they are also opening the door to a surge of impure silver bars and coins in the Indian market. The trend has raised concerns among industry stakeholders over widespread counterfeiting and lapses in quality standards. Precious metal refiners have now stepped up calls for the Bureau … Read more
Capital markets regulator Sebi will examine whether disclosure requirements for debt-only listed entities need to be relaxed as part of broader efforts to deepen India’s corporate bond market, Chairman Tuhin Kanta Pandey said on Tuesday, PTI reported.Speaking at an event organised by CareEdge Ratings in Mumbai, Pandey said the regulator would also launch a pilot … Read more
Data from USCIS shows that nearly 540,000 family-sponsored green card applications and about 170,000 employment-based applications are currently pending. (AI image) Green card hopefuls in the US have been handed over a fresh challenge by the Donald Trump administration: most immigrants seeking green cards have to leave the United States and complete the application process … Read more