The government has moved a step closer to boosting India’s self-reliance in rare earth magnets, with a key panel approving a Rs 7,300 crore scheme to support local manufacturing. These magnets are essential for electric vehicles, wind turbines and a range of consumer electronics.The expenditure finance committee (EFC), which functions under the finance ministry, cleared […]
Heavy rare earth monopoly: China seeks India guarantee that magnets won’t be re-exported to US; here’s why
China has sought assurances from India that heavy rare earth magnets they supply will be utilised exclusively for domestic requirements. (AI image) China will export rare earth magnets to India only if it assures that they will be used for domestic needs and will not find their way to the US. Indian companies have already […]
CEA: Policies must reward productivity, performance
New Delhi: India needs an industrial policy that rewards productivity and performance and does not act as a permanent shelter from competition, chief economic adviser V Anantha Nageswaran said on Wednesday. “If protection is provided, it must come with quid pro quo obligations on the part of industry,” Nageswaran said at a CareEdge ratings event, […]
Bank holiday on Karva Chauth: Will banks remain shut on October 10? Check state-wise upcoming holidays in October
Karva Chauth, which falls just days before Diwali, will be celebrated on October 10 this year. Many are wondering if banks will observe a holiday on this day.With a host of festivals in October, it is advisable to check the bank holiday schedule in advance to plan any banking activities smoothly. The RBI’s pre-released holiday […]
Gold & silver price prediction today: Will MCX Gold, MCX Silver hit fresh highs? Here’s the outlook for gold, silver rates
Gold has surpassed the crucial psychological mark of $4,000, signaling strong bullish momentum. (AI image) Gold and silver price prediction today: Gold and silver prices are exhibiting bullish momentum, reaching new highs, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver: MCX Gold Price […]
Asian stocks today: Markets trade mixed as investors assess AI outlook; Nikkei gains over 600 points, HSI down 0.1%
Asian markets were mixed on Thursday as investors tried to assess the global AI-driven rally, US interest rate moves, and the continuing government shutdown in Washington.Japan’s Nikkei gained 1.29% or 614 points trading at 48,349, while HSI dipped 9 points or 0.03% to reach 26,820 at 9:30 AM IST. In India, NSE benchmark Nifty traded […]
U Factor: After UPI & ULI, RBI eyes UMI for markets
File photo: RBI Governor Sanjay Malhotra MUMBAI: RBI governor Sanjay Malhotra on Wednesday announced the creation of a Unified Market Interface, a new market infrastructure conceptualised by the central bank that will enable instant buying, selling, and trading of financial assets as digital tokens settled through the central bank’s digital currency.“Early efforts and results from […]
India’s growth momentum: Piyush Goyal says no power can stop India becoming developed by 2047; trade and technology expansion key
Piyush Goyal (File photo/ANI) Commerce and Industry minister Piyush Goyal said on Wednesday that no power on earth can prevent India from becoming a developed nation by 2047, with the government taking multiple steps to boost infrastructure, domestic economy, and international trade.Speaking at the 6th edition of the Global Fintech Fest (GFF) in Mumbai, Goyal […]
US market today: Wall Street drifts near all-time highs as gold climbs past $4,000; AI frenzy keeps investors alert
Wall Street stocks showed modest gains on Wednesday, with the S&P 500 inching 0.1% higher near its record high, while the Dow Jones fell slightly by 20 points and the Nasdaq rose 0.3%. Investors remain cautious following the US government shutdown, which delayed major economic data releases, including the monthly jobs report, AP reported.Technology and […]
‘Best time to invest, innovate and Make in India’: PM Modi to global investors at India Mobile Congress
NEW DELHI: Prime Minister Narendra Modi on Wednesday made a spirited pitch for boosting manufacturing investments in the country, saying that it is the “best time to invest, innovate and make in India” which should be positioned as a “trusted partner” in the global supply chain. The statement comes when India faces tariffs headwinds from […]