Business

[ad_1] State-owned oil marketing companies (OMCs) have incurred losses of more than Rs 1 lakh crore over the past 10 weeks as they continued to shield Indian consumers from soaring global fuel prices triggered by the ongoing Middle East conflictThe three state-run fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation…

[ad_1] Prolonged tensions in the Middle East are expected to keep crude oil prices elevated well into the coming years, according to Asian Development Bank Chief Economist Albert Park, who warned that the fallout could weigh on India’s growth and push up inflation.“With a higher oil price expectation, we actually have it as USD 96…

[ad_1] Foreign portfolio investors have extended their retreat from Indian equities in May, taking their total withdrawal from the market in 2026 beyond Rs 2 lakh crore as global economic concerns continue to drag down sentiment. Data from NSDL showed FPIs have pulled out Rs 14,231 crore so far this month, adding to a year…

[ad_1] Oil pipelines across the globe are running dry, depleting at an unprecedented rate as the ongoing Iran war severely disrupts crude flows from the Persian Gulf, rapidly eroding the buffer that usually protects markets from supply shocks.The sharp fall in inventories has triggered rising concern across governments and energy markets, with the loss of…

[ad_1] In a major push to India’s agricultural exports and the government’s One District One Product (ODOP) initiative, APEDA has facilitated the first-ever export of 20 metric tonnes of honey from Assam’s Baksa district to the United States, ANI reported.According to the Commerce and Industry Ministry, the consignment was flagged off on May 9 and…

[ad_1] European Union Ambassador Herve Delphin on Friday said the India-EU partnership has reached a “totally new level” in both strategic and qualitative terms, describing the relationship as “limitless, ambitious and progressive”, PTI reported. Addressing the Europe Day celebrations in the national capital, Delphin said the India-EU partnership is becoming increasingly significant for the 21st…

[ad_1] Ashok Kumar Panda on Saturday assumed charge as chairman and managing director of state-owned Steel Authority of India Limited (SAIL), succeeding Amarendu Prakash whose tenure ended on April 1, 2026, PTI reported.Before taking over as CMD, Panda was serving as Director (Finance) at SAIL, according to a company statement.Panda joined SAIL in 1992 as…

[ad_1] China’s rare earth exports were valued at $64.2 million in April 2026, according to preliminary trade data released by the General Administration of Customs of the People’s Republic of China (GACC), ANI reported.The customs data showed that China exported 5,308.6 tonnes of rare earths during the month.China’s overall exports rose 12 per cent month-on-month…

[ad_1] With another tax return filing season round the corner, it is pertinent for taxpayers to plan. (AI image) India’s personal tax compliance framework is undergoing a decisive transformation, driven by digitisation, pre-filled data integration, and the introduction of simplified tax regimes by the Indian Income tax department.The Income tax return (ITR) forms for FY…

[ad_1] Gujarat has initiated battery energy storage systems with a total capacity of 870 MW at five locations across the state to strengthen grid stability and support the growing integration of renewable energy, PTI reported citing officials on Saturday.Battery Energy Storage Systems (BESS) are used to store electricity generated from solar and other renewable sources…