Middle East crisis choked one of the world’s busiest oil pipelines for over 100 days, sending ripples to economies across the globe. As energy shipments fell, many players opted for a range of tactics to keep the shipments flowing. The US adopted Iran’s playbook. Using a method long associated with Iran’s sanctions-busting efforts, the United … Read more
Jewar’s Noida International Airport (NIA) is set to handle its first cargo flight on Wednesday, with the aircraft scheduled to depart on a domestic route. The development comes just days after the airport began commercial passenger operations, marking another key step in its growth as an aviation and cargo hub for northern India. The airport … Read more
Gold prices edged lower in the national capital on Tuesday, while silver held steady as buying activity remained muted in the domestic market.Traders said gold of 99.9% purity declined by Rs 200 to Rs 1,59,200 per 10 grams, inclusive of taxes, compared with its previous close of Rs 1,59,400 per 10 grams. Silver prices, meanwhile, … Read more
After repeatedly soaring beyond the $100 per barrel mark amid the Middle East conflict, oil prices have finally begun to cool down, inching near the $75 level seen before the conflict. This week, for the first time crude since early March, crude prices have tumbled below $80 as hopes surrounding a potential US-Iran agreement lifted … Read more
MUMBAI: Yum Brands is selling struggling fast food chain Pizza Hut in a $2.7 billion deal to two entities, the American company said on Tuesday. As part of the transactions, the Pizza Hut business excluding Mainland China will be bought by private equity (PE) firm LongRange Capital for nearly $1.5 billion while the China operations … Read more
India is said to be exploring rare earth samples from Russia as it steps up efforts to diversify critical mineral supply chains away from China.State miner IREL is in talks with Rosneft on sourcing samples from the Tomtor deposit in Siberia, which the Russian oil major acquired last year. The discussions are being routed through … Read more
The rupee ended 2 paise lower at 94.60 against the US dollar on Tuesday, breaking a two-session gaining streak despite easing crude oil prices and optimism surrounding a peace agreement between the United States and Iran.At the interbank foreign exchange market, the domestic currency opened at 94.69 against the greenback and moved in a range … Read more
US stocks traded near record levels on Tuesday, with the Dow Jones Industrial Average touching an intraday all-time high as falling oil prices and optimism over a US-Iran peace deal lifted investor sentiment.The Dow rose 360.77 points, or 0.70 per cent, to 52,031.80 in morning trading, setting a fresh intraday record.The S&P 500 gained 7.49 … Read more
Benchmark equity indices Sensex and Nifty continued their upward momentum for the third consecutive session on Tuesday, helped by positive global market trends, foreign fund inflows and easing crude oil prices after the reported peace deal between the US and Iran, reported PTI.The 30-share BSE Sensex gained 544.15 points, or 0.71 per cent, to close … Read more
US President Donald Trump on Tuesday said Washington would soon be in a position to reimpose sanctions on Russian oil shipments after crude flows resumed through the Strait of Hormuz following a deal with Iran to end the Middle East conflict.Speaking on the sidelines of the G7 summit in France, Trump said, “Soon we will … Read more