The windfall tax was introduced to ensure that adequate domestic supplies of petroleum products remain available. (AI image) The windfall tax on exports of diesel and aviation turbine fuel (ATF) has been lowered effective May 1, 2026. The excise duty on petrol and diesel sold in the domestic market will remain unchanged. The levy on … Read more
MUMBAI: Federal Bank said it agreed to acquire a select credit card portfolio of around 4.5 lakh cards from Standard Chartered Bank, India, comprising customers with standalone card relationships. The transaction will strengthen Federal Bank’s retail strategy with a sharper push in the non-co-branded segment. and provide access to a seasoned, high-quality customer base. The … Read more
MUMBAI: Hindustan Unilever (HUL) has hiked prices by 2-5%, signalling more increases could be in the offing going ahead as the company copes with a 8-10% cost inflation on the back of the West Asia war that sent oil prices soaring, weighing on raw material costs for a host of consumer goods ranging from detergents … Read more
NEW DELHI: Russia remained the largest source of crude for India in April, supplying 1.6 million barrels a day (mbd), followed by Saudi Arabia, the UAE, Venezuela and Qatar, data from shipment-tracking firm Kpler has shown.India imported nearly 4.4 mbd of crude in April, marginally lower than in March (4.5 mbd) and 85% of Feb … Read more
Representative image (AI-generated) US President Donald Trump on Thursday announced that he would remove tariffs and restrictions on whiskey linked to trade between Scotland and the US state of Kentucky.In a post on Truth Social he wrote, “In Honor of the King and Queen of the United Kingdom, who have just left the White House, … Read more
NEW DELHI: Monthly domestic urea production has rebounded to last year’s levels, fertiliser ministry said on Thursday, noting that output of the most widely used soil nutrient reached 21 lakh tonnes in April, which was the same as the level recorded a year earlier.In March, domestic urea output had tumbled to around 16 lakh tonnes … Read more
New Delhi: Govt on Thursday replaced National Building Code (NBC) with National Building Construction Standards (NBCS) by withdrawing the earlier code. The new standards will serve more as guidelines, with this being done following directives from Deregulation Cell under Cabinet Secretariat.TOI has learnt that one of the main reasons for replacing NBC with NBCS was … Read more
Indian markets are set for a shortened trading week, with the NSE and BSE remaining closed on Friday, May 1, for Maharashtra Day. The holiday will pause trading across equity, equity derivatives and related segments.For investors planning trades or settlements, Friday’s closure will be the latest scheduled market break after the April 14 holiday observed … Read more
Infosys has appointed Hindustan Unilever Ltd’s non-executive chairman Nitin Paranjpe as non-executive vice chairman of its board with immediate effect, PTI reported on Wednesday.“The Board of Directors has approved the appointment of Nitin Paranjpe as non-executive Vice Chairman of the Board with immediate effect,” the company said in a statement.Paranjpe is also non-executive vice chairman … Read more
US markets traded mixed on Thursday as strong corporate earnings helped Wall Street stay near record highs despite sharp swings in crude oil prices linked to the Iran war, AP reported.The S&P 500 rose 0.1 per cent and remained just below the all-time high touched earlier this week. The Dow Jones Industrial Average gained 413 … Read more