Rupee made a comback in the green territory on Thursday as it recovered 51 paise to trade at 91.54 against the US dollar in early trade, after slumping to record low a day earlier. The domestic currency had plunged 56 paise on Wednesday to settle at an all-time low of 92.05 against the dollar, dragged…
Asian stocks inched higher on Thursday, after days of trading in red amid ongoing Middle East tensions. This comes as equities were lifted by a rebound on Wall Street as oil prices paused their recent spike and economic updates painted a more positive picture of the American economy. In South Korea, Kospi hit a pause…
Weeks after Trump’s tariffs were invalidated by the US Supreme Court, the administration has suffered another setback, with a New York federal judge ruling that the companies which paid the now-struck-down duties are entitled to refunds.Judge Richard Eaton of the US Court of International Trade, on Wednesday (local time), announced that “all importers of record”…
MUMBAI: As expected, on Wednesday, stocks sold off for the second consecutive session since the war in West Asia started on Saturday, and sank the leading indices to over six-month low levels. With the rupee weakening to a new lifetime low, crude prices hitting more than a year-high level and foreign funds selling aggressively, the…
MUMBAI: Warning that governance lapses-not a lack of knowledge-lie at the heart of many financial failures, RBI deputy governor J Swaminathan said institutions often ignore red flags because incentives discourage speaking up, allowing risks to fester until they erupt into crises.Delivering the keynote address at the 3rd International Finance and Accounting Conference (IFAC) at the…
India’s top gas importer Petronet LNG has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in West Asia, it said in an exchange filing on Wednesday.The US-Iran conflict has disrupted fuel shipments in the region. Transit…
MUMBAI: The government’s decision to hold back cuts in retail petrol and diesel prices despite the earlier fall in global crude has given oil marketing companies (OMCs) room to cushion the impact of fresh spikes. According to a report by Nomura, this buffer means that a 10% rise in crude oil prices is likely to…
India is not the only market to have seen losses in the wake of the Middle East situation. (AI image) Indian stock markets have been bleeding – and multiple triggers in the last few quarters have left BSE Sensex and Nifty50 well below their record highs. The fresh negative for the stock markets is the…
US stock markets rebounded on Wednesday after two days of sharp volatility, supported by easing oil prices and encouraging economic data that improved investor confidence.The S&P 500 rose 0.8 per cent in midday trading and was on course to recover most of the losses recorded since the war with Iran began. The Dow Jones Industrial…
Walmart-backed fintech major PhonePe is targeting a valuation of $9 billion to $10.5 billion (about Rs 75,000 crore–Rs 87,000 crore) for its upcoming India IPO, with plans to raise around $1.05 billion through an equity sale, sources aware of the development told news agency PTI.The expected valuation is lower than the company’s last funding round…