The US Federal Open Market Committee Wednesday left the federal funds target range unchanged at 3.50-3.75%, as was widely expected, and sees one rate cut in the rest of 2026. The Committee said the implications of the US-Israel war on Iran for the US economy are uncertain.
This is the second consecutive meeting when the US rate-setting panel has held interest rates steady at 3.50-3.75%. Federal Reserve Governor Stephen I. Miran voted against the decision, and instead preferred to lower interest rates by 25 basis points.
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The US Federal Reserve's monetary policy decision on Wednesday is unlikely to provide any new impetus for gold prices, according to Carsten Fritsch, commodity analyst at Commerzbank AG. Gold prices could rise if "the door remains open for interest rate cuts", however, the considerable uncertainty surrounding the duration of the West Asia conflict and the disruption to oil supplies are likely to make the Fed cautious about "making too clear a statement on the future interest rate path," Fritsch said in a report Tuesday.
The gold price is struggling to fulfil its role as a safe haven in times
The gold price is struggling to fulfil its role as a safe haven in times
HDFC Bank Ltd. is a domestic systemically important bank with sound financials, a professionally run board and a competent management team, the Reserve Bank of India said Thursday. This comes in the backdrop of director and part-time chairman of the bank, Atanu Chakraborty, resigning from his post on Wednesday with immediate effect. “Reserve Bank will continue to engage with the Board and management on the way forward,” the regulator said in a statement.
Basis our periodical assessment, there are no material concerns on record as regards its conduct or governance. The bank remains well-capit
Basis our periodical assessment, there are no material concerns on record as regards its conduct or governance. The bank remains well-capit
The Reserve Bank of India may announce a dollar-rupee buy-sell swap auction of up to $10 billion later on Thursday, five foreign exchange dealers said. The central bank may conduct the auction for a period of three years, as has been the case in recent such liquidity operations, the dealers said.
The RBI has been active across the curve in the secondary today,” a dealer at a private sector bank said. “There is a strong sense in the market that he may do a $10 billion buy-sell swap soon, maybe announce it after market hours.
Dealers said the RBI aims to limit the surge in forward premiums wi
The RBI has been active across the curve in the secondary today,” a dealer at a private sector bank said. “There is a strong sense in the market that he may do a $10 billion buy-sell swap soon, maybe announce it after market hours.
Dealers said the RBI aims to limit the surge in forward premiums wi
Rating agency ICRA Ltd. Wednesday said it has upgraded Vodafone Idea Ltd.'s long-term fund-based credit rating to 'BBB' from 'BBB-'. ICRA also revised the outlook for Vodafone Idea's INR 23.27 billion loans to 'positive' from 'stable'.
The upgrade is based on the government's revision of Vodafone Idea's adjusted gross revenue dues in January and the settlement of the contingent liability adjustment mechanism agreement with Vodafone Group PLC, the promoter of Vodafone Idea, ICRA said in a press release.
The upgrade is based on the government's revision of Vodafone Idea's adjusted gross revenue dues in January and the settlement of the contingent liability adjustment mechanism agreement with Vodafone Group PLC, the promoter of Vodafone Idea, ICRA said in a press release.
Automobile and ancillary companies that are a part of the Nifty 200 index posted a mid-single digit revenue growth and a 28% fall in net profit for the December quarter, mainly due to Tata Motors Passenger Vehicles Ltd., which continued to reel from the cyber-attack on its UK-based subsidiary, Jaguar Land Rover. Excluding the Sierra-maker, the revenue of the remaining 14 companies grew 21% on year, in line with earnings estimates for the group and profit rose 19%, below estimates. These 14 companies' net profit, excluding one-time items, rose 28% on year, a touch below estimates.
The 15 aut
The 15 aut
India and Finland are entering into a strategic partnership in digitisation and sustainability that will deepen cooperation in advanced technology and various critical sectors, Prime Minister Narendra Modi said here Thursday.
This partnership will boost cooperation in high-tech fields of artificial intelligence, 6G telecom, clean energy and quantum computing,” Modi said at a joint press briefing with visiting Finland President Alexander Stubb.
This partnership will extend to key sectors of defence, space, semiconductors and critical minerals, Modi added.
This partnership will boost cooperation in high-tech fields of artificial intelligence, 6G telecom, clean energy and quantum computing,” Modi said at a joint press briefing with visiting Finland President Alexander Stubb.
This partnership will extend to key sectors of defence, space, semiconductors and critical minerals, Modi added.
Prices of chana are expected to fall in the near term, while those of tur and urad are expected to be range-bound, the India Pulses and Grains Association said in its weekly report Monday. Chana prices could be weighed down by low demand and ample supply, the association said. Tur and urad prices could be range-bound amid steady supply and some need-based demand, it said.
Chana prices are expected to remain under pressure in the short term amid sluggish demand and ample availability, the association said. Demand for chana dal, or processed chana, and besan remains low, while millers are maki
Chana prices are expected to remain under pressure in the short term amid sluggish demand and ample availability, the association said. Demand for chana dal, or processed chana, and besan remains low, while millers are maki
Bajaj Auto Ltd. sold 448,259 automobiles to dealerships in India and overseas in February, up 27% on year, marking the fastest growth in the last 27 months. The growth was strong in domestic and overseas markets and for two-wheelers and commercial vehicles, according to the company's exchange filing Monday.
Bajaj Auto sold 232,581 automobiles in India in February, up 27% on year but down 11% on month. Its exports stood at 215,678 units in February, up 28% on year but flat on month.
Two-wheeler sales of the Chetak-maker climbed 27% on year to 379,921 units. Domestic sales grew 27% on year bu
Bajaj Auto sold 232,581 automobiles in India in February, up 27% on year but down 11% on month. Its exports stood at 215,678 units in February, up 28% on year but flat on month.
Two-wheeler sales of the Chetak-maker climbed 27% on year to 379,921 units. Domestic sales grew 27% on year bu
India’s first overhaul of its national accounts in over a decade has sprung a few shocks and surprises, but it underpinned that growth remains buoyant and is now more stable. While the new GDP data strengthens the growth outlook for the Indian economy, it has complicated the government’s fiscal math.
The statistics ministry Friday released the new GDP series with 2022–23 (Apr-Mar) as the base year, replacing FY12. Data based on the new series showed that India’s GDP grew faster than expected in the December quarter at 7.8%, driven by strong consumption on the back of cuts in the goods and se
The statistics ministry Friday released the new GDP series with 2022–23 (Apr-Mar) as the base year, replacing FY12. Data based on the new series showed that India’s GDP grew faster than expected in the December quarter at 7.8%, driven by strong consumption on the back of cuts in the goods and se
Finance Minister Nirmala Sitharaman Monday said that the government does not have any roadmap for mergers of certain public sector banks. However, the committee proposed in the Budget for 2026-27 (Apr-Mar) will look into the topic, she said. "I'm not familiar with any roadmap...there isn't one," Sitharaman said in a press conference after the board meeting of the Reserve Bank of India.
Bank consolidation was not a subject here, nor was it a subject before the Budget, but the Committee which is now being appointed, once the terms of reference are given they will look into every aspect of how
Bank consolidation was not a subject here, nor was it a subject before the Budget, but the Committee which is now being appointed, once the terms of reference are given they will look into every aspect of how
Gold futures contracts opened higher on the Multi Commodity Exchange on Monday due to global trade uncertainty and rising safe haven demand because of rising tensions between the US and Iran. The most-traded April gold futures contract opened at INR 158,458 per 10 grams, up 1% from the previous close of INR 156,876 per 10 grams.
Renewed global trade tensions and heightened economic uncertainty spurred safe-haven demand for the precious metal, analysts said. The US Supreme Court on Friday struck down many of US President Donald Trump's "reciprocal" tariffs, which were invoked based on the Int
Renewed global trade tensions and heightened economic uncertainty spurred safe-haven demand for the precious metal, analysts said. The US Supreme Court on Friday struck down many of US President Donald Trump's "reciprocal" tariffs, which were invoked based on the Int
Finance Minister Nirmala Sitharaman said Monday that gold demand in India has not reached alarming proportions. Gold demand and prices in India were capped at a level, she said at a press conference after addressing the central board of the Reserve Bank of India.
Gold has always been a favoured investment for households, whether as an asset class or for jewellery,” she said. “So, high-pitched demand for domestic consumption also sees a seasonal spike during festival season, during Akshay Tritiya and so on. We are watching it, but I am not sure it has reached such alarming proportions, given
Gold has always been a favoured investment for households, whether as an asset class or for jewellery,” she said. “So, high-pitched demand for domestic consumption also sees a seasonal spike during festival season, during Akshay Tritiya and so on. We are watching it, but I am not sure it has reached such alarming proportions, given
US crude oil inventories, excluding those in strategic petroleum reserves, fell 9 million barrels to 419.8 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had estimated a rise of 1.1 million barrels. US crude oil inventories were about 5?low the five-year average for this time of year, according to the report.
Petrol inventories fell 3.2 million barrels from the previous week to 255.8 million barrels in the week ended Friday. Analysts polled by Dow Jones had expected a fall of 700,000 barrels in petr
Petrol inventories fell 3.2 million barrels from the previous week to 255.8 million barrels in the week ended Friday. Analysts polled by Dow Jones had expected a fall of 700,000 barrels in petr
Terming artificial intelligence a turning point for human civilisation, Prime Minister Narendra Modi Thursday called for a larger vision for AI, while also urging to be responsible in its use.
We need to keep our vision (for AI) big but be responsible as well. Apart from the current generation, we have to be conscious about what form of AI we will leave for the coming generation," he said at the AI Impact Summit in New Delhi.
The prime minister also emphasised the need for democratising AI, saying one needs to ensure that human beings don't become mere data points or raw materials in an AI
We need to keep our vision (for AI) big but be responsible as well. Apart from the current generation, we have to be conscious about what form of AI we will leave for the coming generation," he said at the AI Impact Summit in New Delhi.
The prime minister also emphasised the need for democratising AI, saying one needs to ensure that human beings don't become mere data points or raw materials in an AI
Swiss drug maker Novartis AG on Friday said that the company proposed to sell its entire 70.68% stake in Indian arm Novartis India Ltd. A consortium of investment firms, including WaveRise Investments Ltd., ChrysCapital Fund X, and Two Infinity Partners are taking the controlling stake in Novartis India, Novartis India said in a filing to exchanges.
Following the Novartis announcement, the consortium also announced an open offer to buy up to 26% of more shares in the company at a price of INR 860.64 per share. Based on the open offer price, the 70.68% stake sale deal is valued at INR 14.5 bi
Following the Novartis announcement, the consortium also announced an open offer to buy up to 26% of more shares in the company at a price of INR 860.64 per share. Based on the open offer price, the 70.68% stake sale deal is valued at INR 14.5 bi
India’s private sector activity expanded at the strongest rate in three months in February with quicker increases in total new orders and international sales during the month, S&P Global said Friday. This prompted higher staff recruitment and scaling up of output which, in combination, made businesses more optimistic about growth prospects. The HSBC Flash Composite Purchasing Managers’ Index rose to 59.3 in February from 58.4 in January.
Activity picked up in the manufacturing sector at a higher clip than the services sector. The flash manufacturing PMI rose to a four-month high of 57.5 in F
Activity picked up in the manufacturing sector at a higher clip than the services sector. The flash manufacturing PMI rose to a four-month high of 57.5 in F
Tech giant Microsoft aims to invest $50 billion by 2030 to build infrastructure for artificial intelligence, Microsoft President Brad Smith said Thursday. India is likely to be among the key destinations for the company's investment, Smith added.
The next big step in AI is extending it to the global south more extensively, Smith said. Under its investment plan, Microsoft aims to set up more data centres and compute infrastructure in the global south, with India, "unsurprisingly", being a key destination, according to Smith.
The next big step in AI is extending it to the global south more extensively, Smith said. Under its investment plan, Microsoft aims to set up more data centres and compute infrastructure in the global south, with India, "unsurprisingly", being a key destination, according to Smith.
The government has lowered the base import price of silver by $286 to $2,421 per kg, according to a notification issued by the Central Board of Indirect Taxes and Customs Wednesday. The base import price of gold has been kept unchanged at $1,624 per 10 gm. Base import prices of both the precious metals were last revised on Feb. 13.
The government generally revises base import prices of gold and silver every fortnight but makes more frequent changes when prices are volatile. Base import prices are used to calculate import duty on precious metals that individuals bring into the country. India
The government generally revises base import prices of gold and silver every fortnight but makes more frequent changes when prices are volatile. Base import prices are used to calculate import duty on precious metals that individuals bring into the country. India
Prime Minister Narendra Modi Wednesday met presidents and prime ministers of several nations on the sidelines of India AI Impact Summit, including Spain's President Pedro Sanchez. Modi and Sanchez reviewed India–Spain relations and expressed confidence in expanding bilateral ties. The two leaders discussed India and Spain's trade and investment, technology, infrastructure, climate and renewable energy, defence and security, space, culture, tourism and people-to-people exchanges.
President Sanchez highlighted the importance of the AI Impact Summit and expressed confidence that its outcomes wo
President Sanchez highlighted the importance of the AI Impact Summit and expressed confidence that its outcomes wo