The rupee appreciated by 11 paise to close at 85.68 against the US dollar on Friday, reversing early losses after the Reserve Bank of India (RBI) delivered a surprise 50 basis point repo rate cut and announced a phased 100 basis point reduction in the cash reserve ratio (CRR).The local unit opened weak at 85.91,…
The fallout between Trump and Musk has created significant implications for both these influential figures. The spat between US President Donald Trump and world’s richest person Elon Musk, is getting uglier as each hour of the day passes. From trading harsh barbs to threats, it’s a fight like no other. And it keeps getting worse!…
Travellers flying in and out of Delhi in the upcoming months might see a little turbulence in their plans as Delhi airport will be canceling almost 7.5% of its daily flights. For three months, from June 15 to September 15, the airport will be cancelling 114 daily flights, as the airport operator DIAL begins upgradation…
Amid rising concern over the economic fallout of President Donald Trump’s sweeping tariffs and federal workforce cuts, US employers added 139,000 jobs in May — a slowdown from the previous month, but still a sign of resilience in a jittery economy.Hiring eased from a revised 147,000 in April, while the unemployment rate held steady at…
India’s foreign exchange reserves slipped by $1.24 billion to $691.49 billion in the week ending May 30, according to data released by the Reserve Bank of India on Friday. Despite the decline, the central bank said the reserve buffer remains robust. “At $691.5 billion, the reserves are sufficient to cover 11 months of imports and…
Russia’s central bank lowered its benchmark interest rate to 20 percent on Friday, easing it from a two-decade peak of 21 percent as signs of economic cooling and easing price pressures emerged.The move marked the regulator’s first rate cut since September 2022 and followed growing calls from businesses and political quarters who said the high…
The Reserve Bank of India once again raised red flags over cryptocurrencies, warning that these digital assets could threaten the financial stability and monetary policy.Speaking to reporters after the central bank’s monetary policy announcement on Friday, RBI governor Sanjay Malhotra said, “There is no new development as far as crypto is concerned. A committee of…
A widening supply gap for rare earth magnets is threatening to disrupt India’s electric vehicle manufacturing, with a Jefferies report warning that domestic firms may soon hit a dead-end unless alternative sourcing or stockpiling solutions are found.Several Indian EV makers are reportedly struggling to secure magnet imports from China, which are essential for producing EV…
India’s automobile sector has welcomed the Reserve Bank of India’s latest rate-cut move, calling it a timely intervention that could improve financing access, strengthen consumer sentiment, and support overall retail growth.On Friday, the RBI reduced the repo rate by 50 basis points to 5.5% and cut the Cash Reserve Ratio (CRR) by 100 basis points…
NEW DELHI: The Reserve Bank of India (RBI) on Friday slashed the repo rate by 50 basis points to 5.5%, marking its third rate cut this year. Alongside, the Cash Reserve Ratio (CRR) has also been reduced by 1% to 3%, injecting Rs 2.5 lakh crore into the banking system. While this move brings relief…
