India’s wholesale price inflation accelerated sharply to 8.30 per cent in April from 3.88 per cent in March, driven mainly by a steep rise in fuel, power and crude oil prices amid the ongoing West Asia crisis, according to government data released on Wednesday.Data released by the ministry of commerce and industry showed that inflation…
India’s financial conditions remained under pressure in April as elevated crude oil prices, continued foreign investor outflows and a weakening rupee tightened stress across markets amid the ongoing Middle East conflict, according to a Crisil report.The Crisil Financial Conditions Index (FCI) stood at -1.2 in April compared with -1.4 in March. The report noted that…
Singapore Airlines (SIA) Group on Thursday reported a 57.4 per cent decline in net profit to 1.184 billion Singapore dollars (SGD) for the financial year ended March 2026, impacted by losses from Air India and the absence of a one-time accounting gain recorded in the previous year from the Air India-Vistara merger, PTI reported.The airline…
Yatrigan, fasten your seatbelts for not just your flight but the whole aviation sector is experiencing turbulence!Flight delays, rising ticket prices, and cancelled international routes are no longer breaking news, but the new normal. In May 2026, airlines are grappling with a mix of economic and geopolitical pressures, creating a cycle of challenges that keeps…
The International Monetary Fund (IMF) on Thursday warned that continued disruptions from the Iran war are pushing the global economy closer to an “adverse” scenario marked by slower growth, tighter financial conditions and rising inflation risks, AFP reported.Last month, the IMF’s World Economic Outlook projected global growth at 3.1 per cent for 2026 under its…
Commerce and Industry Minister Piyush Goyal on Thursday called for aligning standards, customs procedures and business practices between India and African nations to accelerate bilateral trade and deepen economic partnerships, PTI reported.Addressing a curtain raiser event for the upcoming India-Africa Business Dialogue (IABD) and Exhibition, Goyal said the African Continental Free Trade Area (AfCFTA), valued…
The government has capped gold imports under the Advance Authorisation scheme at 100 kilograms and tightened compliance and monitoring norms for importers in the gems and jewellery sector, according to a DGFT notification issued on Thursday.The Directorate General of Foreign Trade (DGFT) inserted five new notes under Standard Input Output Norms (SIONS) M-1 to M-8…
Wall Street extended its rally on Thursday, with the S&P 500 and Nasdaq touching fresh intraday record highs, led by gains in chipmaker Nvidia as investors tracked economic data and developments from the high-stakes US-China summit, Reuters reported.The Dow Jones Industrial Average rose 270.32 points, or 0.54 per cent, to 49,963.52 in early trade. The…
Global crude oil prices are likely to decline to an average of $79 per barrel by 2027 as oil production in the Middle East gradually increases, news agency ANI reported citing the latest outlook released by the US Energy Information Administration (EIA).The agency said Brent crude prices, which surged sharply following disruptions around the Strait…
Mumbai: ICICI Bank has launched a USD-denominated debit card in partnership with Visa, marking a shift in how Non-Resident Indians manage offshore wealth by eliminating currency conversion layers for dollar spending.The product allows NRIs to spend directly in USD without incurring the typical 3.5% currency markup fee and GST that applies when using Indian NRE…