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 […]
15% Universal Tariff: Tariff may be hiked to 15% this week: Scott Bessent
File photo: US treasury secretary Scott Bessent US treasury secretary Scott Bessent said that President Donald Trump‘s plan to increase a 10% universal tariff up to 15% will likely be done this week. “That’s likely sometime this week,” Bessent said on CNBC in response to a question about when the increase to 15% would be […]
Adidas shares slide after weak 2026 outlook; company says Middle East war impact unclear
German sportswear giant Adidas shares fell sharply on Wednesday after the company issued a weaker-than-expected outlook for 2026, while warning that the business impact of the escalating Middle East conflict remains uncertain, AFP reported.The maker of Gazelle and Samba trainers said it expects operating profit to rise to 2.3 billion euros ($2.7 billion) in 2026 […]
8th Pay Commission: Why employee unions want family units raised to 5 and what it means for fitment factor
A proposal to increase the number of family units considered in salary calculations from three to five could significantly boost pay revisions under the 8th Pay Commission, according to central government employee organisations. They argue that if the government accepts the demand, the fitment factor used to revise basic salaries could cross 3, potentially leading […]
PhonePe eyes up to $10.5 billion valuation in India IPO, plans about $1 billion
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 […]
RBI announces Rs 20,000 crore G-sec switch auction on March 9 to ease upcoming redemption pressure
The Reserve Bank of India (RBI) on Wednesday said it will conduct a switch auction of government securities worth Rs 20,000 crore on March 9 as part of efforts to manage the government’s bond redemption profile.According to an RBI release, the auction will be held between 10:30 am and 11:30 am, as reported PTI. The […]
Middle East disruption pushes oil prices higher: Could Russia gain financially and fund its Ukraine war longer?
The disruption of Middle East energy supplies due to the Iran war is pushing global oil and gas prices higher, a development that could strengthen Russia’s finances and indirectly support its war effort in Ukraine.Rising energy prices are increasing the revenue Russia earns from oil and gas exports – a key pillar of the Kremlin’s […]
Rupee falls to all-time low of 92.05 against dollar as oil surge, foreign outflows rattle markets
The Indian rupee weakened sharply on Wednesday, slipping to a record closing low of 92.05 against the US dollar as soaring crude oil prices and global risk aversion linked to the Iran crisis weighed heavily on the domestic currency.The rupee depreciated by 56 paise during the session, pressured by rising energy costs, foreign fund outflows […]
US stocks today: Wall Street steadies as oil rally cools; investors watch Iran war risks
US stocks traded steadier on Wednesday after two days of sharp swings, as oil prices paused their rapid climb amid continued uncertainty over the economic fallout from the war involving Iran.The S&P 500 rose 0.5 per cent in morning trade. The Dow Jones Industrial Average gained 180 points, or 0.4 per cent, as of 10:15 […]
Balanced India-Japan trade key for long-term sustainability, says commerce secretary
India has significant export potential in sectors such as pharmaceuticals, textiles, agriculture and services in Japan, and achieving a more balanced bilateral trade relationship is crucial for long-term sustainability, the government said on Wednesday.The issue was highlighted by Commerce Secretary Rajesh Agrawal during his visit to Tokyo on March 2 to attend the Joint Committee […]