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
India is focused on securing its energy supplies and protecting its citizens, as the Middle East conflict continues to escalate. Speaking in the Rajya Sabha on Monday, external affairs minister S Jaishankar said that national interest, including energy security will always be top priority and that the government is committed to ensure “that it takes … Read more
Asian stocks opened sharply lower on Monday, weighed down by surging oil prices and concerns over economies reliant on energy imports from the Middle East. South Korea’s Kospi emerged as the hardest hit, tumbling over 7.8% or 437 points to 5,147. Nikkei plunged 6.6% or 3,683 points to 51, 937. Around 11 am IST, HSI … Read more
Stock market began the week in red with Nifty trading below 24,000 and Sensex tumbling over 2,000 points as the Middle East conflict continues to intensify. As of 9:27 am, NSE Nifty50 was trading 23,703.60, down 746.85 points or 3.05%. BSE Sensex plunged 2,415.69 points or 3.06% to trade at 76,503.21. This follows a weak … Read more