MUMBAI: Abu Dhabi’s International Holding Company, which emerged as a key backer of the Adani Group following the Hindenburg-induced market turmoil in 2023, is deepening its partnership with the conglomerate through an $11.5 billion integrated aluminium project in Odisha.The partners have formed an equal joint venture to build a sprawling aluminium complex comprising a four-million-tonne…
MUMBAI: The rupee closed at 95.4 against the dollar, down 15 paise from its previous close of 95.25 in the foreign exchange market, with renewed demand for dollars spurring speculation over the return of oil marketing companies (OMCs) to the forex market.To reduce market demand for dollars and stem rupee volatility, RBI had earlier this…
NEW DELHI: RBI on Thursday made its stand over legalising cryptocurrency clear, amid fears that it can be a source of financing for crimes with transnational dimensions like drug trade and terrorism, persons familiar with the deliberations said after the central bank briefed a Parliamentary committee on virtual digital assets (VDAs).A lawmaker said RBI also…
MUMBAI: Danish brewer Carlsberg has confidentially filed draft IPO papers for its India unit with markets regulator Sebi earlier this week, the company said. “The progress and timing of the potential IPO will depend on a number of factors, including the regulatory review and approvals, as well as prevailing market conditions,” a global spokesperson said…
NEW DELHI: With the situation in West Asia improving and oil prices falling, govt expects a pick-up in the economy, amid economic indicators pointing to a strong momentum in first quarter.“The economic indicators released by the govt continue to underline resilience of Indian economy despite global uncertainties. Strong GDP growth, expanding manufacturing and services activity,…
MUMBAI: If you think the AI boom will only make MacBooks and iPads more expensive, you are wrong. You probably do not realise it, but a host of products you use every day have memory chips in them-this is because devices are getting ‘smart’ which means they require more memory to process data and run…
US job growth slowed sharply in June with employers adding just 57,000 jobs, according to data released by the US bureau of labor statistics. The slump came even as the unemployment rate eased to 4.2% from May’s figure of 4.3%, with almost 7.1 million people reporting to have jobs.Non-farm payrolls rose by 57,000 in June,…
Wall Street traded mixed on Thursday after a weaker-than-expected US jobs report strengthened expectations that the Federal Reserve could hold off on raising interest rates at its upcoming meeting.Around 8:15 PM IST, the Dow Jones Industrial Average gained 392.58 points, or 0.75%, to trade at 52,697.82. The S&P 500 also edged higher, rising 18.27 points,…
PM Narendra Modi and Japanese Prime Minister Sanae Takaichi. (ANI photo) India and Japan on Thursday announced a series of major initiatives, including a new economic partnership framework, a defence agreement for the joint development of military equipment, and measures to deepen cooperation in the energy sector to strengthen resilience against oil supply disruptions. The…
Dalal Street ended Thursday on a bright note, with benchmark equity indices Sensex and Nifty closing nearly 1% higher. The momentum was buoyed by a sharp rally in IT stocks and easing crude oil prices as geopolitical tensions showed signs of cooling. The 30-share BSE Sensex gained 579.48 points, or 0.75%, to close at 77,502.12…
