State-owned fuel retailers experienced significant profit surge in Q1 FY26, with a combined net profit of Rs 16,184 crore, driven by robust petrol and diesel marketing margins. BPCL led with a net profit of Rs 6,124 crore and a GRM of $4.88 per barrel. These gains offset inventory losses and unresolved LPG subsidy burdens. State-owned…
Talks between India and China on reviving traditional border trade have yielded progress, with Beijing agreeing in principle to reopen the Shipki-La pass in Himachal Pradesh’s Kinnaur district, the state government said on Sunday.The trade route, once an offshoot of the ancient Silk Route, had been suspended in 2020 following the Covid-19 outbreak.According to the…
Gold prices are likely to trade in a consolidation zone in the near term, but analysts maintain the broader bias remains positive as expectations grow for a US Federal Reserve rate cut in September.Traders will keep a close eye on upcoming US macro data, including Q2 GDP, PCE inflation, and speeches by Fed officials, which…
Elon Musk’s Starlink receives unified license in India NEW DELHI: The security conditions, he explained, bar Starlink from copying or decrypting Indian user data abroad and prevent the mirroring of Indian user traffic on any system outside the country.“The security conditions, inter-alia, include the establishment of earth station gateway(s) in India for providing satellite-based communication…
Uber CEO Dara Khosrowshahi NEW DELHI: Uber CEO Dara Khosrowshahi has identified Rapido as the company’s biggest challenger in India, saying the bike-taxi and ride-hailing startup has now overtaken Ola as Uber’s main competition in the market. Speaking on Zerodha cofounder Nikhil Kamath’s podcast People by WTF, he remarked in a teaser clip, “Ola used…
Royal Mail post office (AP) European postal services are suspending shipments to the United States after Washington announced the end of the long-standing “de minimis” tariff exemption, sparking confusion over new customs rules and duties.The de minimis exemption, which currently allows packages worth less than $800 to enter the US duty-free, will expire Friday. According…
Although Nayara Energy faces no direct sanctions, it is facing heat due to Russian state energy corporation Rosneft PJSC’s 49.13% ownership stake in the organisation. (AI image) Nayara Energy, India’s second largest private oil refinery, is facing fresh trouble from the impact of US, EU sanctions. Although the Russia-backed Nayara Energy faces no direct sanctions,…
Donald Trump secures 10% US ownership in Intel (Picture credit: AP) The United States government has acquired a 10 per cent holding in Intel, marking one of the most striking federal interventions in a private company since the 2008 auto bailouts. US President Donald Trump announced the agreement on Friday, describing the deal as “a…
Sebi representative image NEW DELHI: Markets regulator Sebi has proposed raising the minimum order size for block deals on stock exchanges to Rs 25 crore from Rs 10 crore. A block deal is a single large share transaction executed between a buyer and a seller during a 15-minute window offered twice a day. The existing…
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India’s (RBI) approval to acquire up to 24.99% stake in Yes Bank, the private sector lender announced on Saturday.The development comes after Yes Bank’s May 9 disclosure about SMBC’s plan to purchase a 20% holding in the bank through a secondary stake buy,…
