The government has introduced a series of measures to support exporters facing disruptions from the ongoing Gulf conflict, with key sectors such as gems and jewellery, rice and pharmaceuticals under pressure, PTI reported.At an inter-ministerial briefing, Director General of Foreign Trade Lav Aggarwal said the commerce ministry is working with insurers and banks to address…

The average long-term US mortgage rate has climbed for the fifth consecutive week, reaching its highest level in nearly seven months and adding to affordability challenges for homebuyers during the crucial spring housing season, according to AP.The benchmark 30-year fixed mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said. A…

In a move aimed at shielding passengers from sharp airfare surges, the government has capped monthly increases in aviation turbine fuel (ATF) prices for domestic flights at 25%, according to Reuters.The decision comes amid volatility in global energy markets linked to the ongoing Iran crisis, which has pushed up fuel costs and added pressure on…

The Reserve Bank of India has allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports beyond immigration or customs checkpoints, according to PTI. Earlier, such counters were permitted only to buy Indian rupees from non-residents and sell foreign currency to them. “On a…

NEW DELHI: In a U-turn, the civil aviation ministry Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost side pressure since the Iran war began, airlines had warned this move to curb ancillary revenue will lead to additional fare hikes.The aviation ministry had on…