The deal will deepen Bank of America’s participation in India as the financial sector expands. MUMBAI: Bank of America will acquire an initial 26.5% stake in Jio Credit, the wholly owned NBFC lending subsidiary of Jio Financial Services, with the stake potentially rising to 49.9% under a joint venture agreement that could involve an investment…
Oil prices fall over $1 as weak demand outlook weighs on market, Iran war keeps supply worries alive Oil prices slipped by more than $1 on Thursday as a weaker outlook for global demand put further pressure on the market, while supply disruptions linked to the Middle East conflict continued to limit the fall. Global…
Indian equities ended lower in the previous session, with Sensex falling 187.90 points, or 0.24%, to 77,966.35 and Nifty declining 35.75 points, or 0.15%, to 24,435.95. The decline marked the second consecutive session of losses for the Sensex. The market saw sharper selling during the session, with the 30-share index falling as much as 656…
NEW DELHI: Govt has asked all states and UTs to accelerate installation of smart electricity meters across all consumer categories, saying the mandatory rollout cannot be linked to billing mode — prepaid or postpaid — of the meter.In a communication to states, power ministry said installation of smart meters was mandatory under Central Electricity Authority’s…
The latest wholesale inflation figures, coming a day after softer consumer inflation data, have reduced expectations of an imminent rate hike. US stock market today: Wall Street benchmarks moved closer to record territory on Thursday after fresh data suggested inflationary pressures continued to ease. Markets also found support from another decline in oil prices, extending…
Wholesale prices in the US cooled in July, offering a welcome sign that inflation may be losing some momentum as lower energy costs helped ease price pressures.Data released by the labor department showed that the producer price index (PPI), which tracks prices received by producers before they reach consumers, increased 4.7% from a year earlier…
Government plans processing parks in 4 states India’s critical mineral roadmap is advancing, with the government set to establish four dedicated critical mineral processing parks in Gujarat, Maharashtra, Andhra Pradesh and Odisha. The initial focus will be on building domestic processing capacity for lithium and nickel, mines secretary Keshav Chandra said on Thursday.The proposed parks…
A sharp cut in Russian crude imports could raise India’s oil import bill, disrupt refinery operations. With Russia’s share in India’s oil imports progressively climbing up, any abrupt shift away from Moscow’s crude appears unlikely in wake of the fresh Trump tariff threat emerging from the US, says Global Trade Research Initiative (GTRI) in its…
NEW DELHI: A parliamentary committee has questioned whether rising capital expenditure in India’s oil and gas sector is translating into higher domestic production, noting that crude oil output has continued to decline despite a sharp increase in investments.It has asked the petroleum ministry to submit a detailed report explaining how recent exploration reforms and newly…
Deficit widens 31.5% to $15bn in July, electronics exports surge 11-fold India’s trade gap widened in July as imports grew faster than exports, with the combined merchandise and services deficit rising 31.5% year-on-year to $15.03 billion, according to data released by the commerce ministry.Exports of goods and services rose 13.3% to $80.14 billion in July…
