Federal Reserve Chair Jerome Powell on Monday said the central bank is closely monitoring inflation risks arising from the spike in energy prices due to the Iran war, but cautioned that there is limited scope for policy intervention in such supply-driven shocks.Speaking at Harvard University before nearly 400 students, Powell said energy shocks typically tend…
US consumer confidence rose marginally in March even as fuel prices surged due to the Iran war, highlighting resilience in spending but growing concerns around inflation and economic outlook, according to AP.The Conference Board said its consumer confidence index increased to 91.8 in March from 91 in February, indicating a modest improvement despite rising cost…
India is set to receive its first shipment of Iranian crude oil since 2019, with a tanker carrying 600,000 barrels of oil en route to Gujarat following a temporary sanctions waiver by the US, according to PTI.Ship-tracking data indicates that the vessel Ping Shun is headed towards Vadinar port, marking a potential revival of Indo-Iran…
In a span of just a month, BSE Sensex is down over 9,300 points or 11.48%! (AI image) Blood bath on Dalal Street, foreign investors’ exodus, mass selloff, several lakh crore of investors’ wealth wiped out – these are the headlines that have dominated financial news this month. The US-Israel-Iran war has dealt a massive…
US stock markets moved sharply higher on Tuesday as investors cheered signs of possible de-escalation in the Middle East conflict, even as major indexes remain on track for their steepest monthly declines in years.At 10:05 a.m. ET, the Dow Jones Industrial Average surged 627.92 points, or 1.39%, to 45,844.06. The S&P 500 gained 103.78 points,…
Dubai has announced a package of economic measures, including incentives worth AED 1 billion, to support businesses and individuals over the next three to six months amid global supply disruptions linked to the ongoing West Asia conflict.The initiatives, approved by the Executive Council of Dubai in a meeting chaired by Crown Prince Sheikh Hamdan bin…
Mining billionaire Anil Agarwal’s Vedanta Ltd has told the Supreme Court that its tweaked bid for the bankrupt Jaiprakash Associates Ltd was rejected despite being better than Adani Group’s offer.In its petition challenging the lenders’ decision to accept Adani’s takeover offer, Vedanta contended that its addendum bid is about Rs 3,400 crore higher in gross…
The government has notified the Finance Act 2026, bringing into force the tax changes approved under the Union Budget for 2026-27, according to a gazette notification issued by the Ministry of Law and Justice.“The following Act of Parliament received the assent of the President on March 30, 2026 and is hereby published for general information,”…
The government on March 30, 2026 notified Income Tax Return (ITR) forms ITR-1 to ITR-7 for the assessment year 2026-27, marking the start of the ITR filing season. Individuals, pensioners, professionals and other taxpayers can now file their returns using the applicable forms by July 31, 2026.A key change this year relates to ITR-1 (Sahaj),…
Revamp of the Income Tax Rules, 2026 is likely to have a meaningful impact on taxpayers. (AI image) April 1, 2026 not just signals the start of the new financial year 2026-27, but this time also brings with it a new set of income tax rules. The New Income Tax Rules 2026, based on the…