Business

Iran FM Says US Pressuring India on Russian Oil While Seeking Global Buyers After Iran War Tehran Criticises Washington’s Oil Policy Shift Dubai, March 14: Iranian Foreign Minister Abbas Araghchi has accused the United States of contradicting its earlier stance on Russian oil, claiming that Washington is now encouraging global purchases of Russian crude despite previously pressuring India to halt such imports.In a post on social media platform X on Friday, Araghchi said the US had spent months pushing India to stop buying oil from Russia. According to him, the situation changed rapidly following the escalation of hostilities involving Iran.“The US spent months trying to pressure India into ending its oil imports from Russia,”...

SEBI Chief Says Indian Capital Markets Growing Deeper and More Resilient Amid Global Volatility New Delhi, March 14: Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Saturday said India’s capital markets are steadily becoming deeper, more diversified, and resilient despite continued global uncertainties that are driving volatility across financial markets.Speaking at a media event in New Delhi, Pandey advised retail investors to avoid reacting impulsively to short-term fluctuations and instead adopt a patient approach to investing.“For retail investors, the best strategy would be to remain patient,” Pandey said, noting that markets have historically recovered after major global disruptions.Indian...

India Emerges as Fastest Growing Major Economy with Strong Market Transformation: IMF India’s Growth Momentum Outpaces Global Peers New Delhi, March 14: India’s economy continues to outperform major global peers, supported by strong growth momentum and a gradual structural transformation in its capital markets.According to the International Monetary Fund, India recorded GDP growth of 6.5 percent in FY2024 to 2025. The growth accelerated further in the first quarter of FY2025 to 2026, when the economy expanded by 7.8 percent.At a time when several large economies are slowing and revising their growth forecasts downward due to policy uncertainties, India is maintaining a stronger trajectory. The IMF currently identifies India as the...

Ola Electric Launches #EndICEAge Campaign to Accelerate Shift from Petrol Two Wheelers New Delhi, March 14: Ola Electric has launched #EndICEAge, a nationwide campaign aimed at accelerating India’s transition from petrol powered two wheelers to electric mobility. The initiative focuses on highlighting the rising cost and inconvenience of petrol dependency while encouraging riders to adopt electric vehicles.The company said the campaign seeks to turn growing concerns around petrol prices and frequent fuel refills into a catalyst for change by motivating consumers across the country to move toward electric mobility.Limited Period Benefits for New Buyers As part of the campaign, Ola Electric is offering limited period benefits worth...

Indian LPG Tankers Shivalik and Nanda Devi Safely Exit Strait of Hormuz Amid Middle East Tensions Indian-Flagged LPG Vessels Cross Key Energy Shipping Route New Delhi, March 14: Two Indian-flagged liquefied petroleum gas tankers have safely crossed the strategically vital Strait of Hormuz after Iran granted safe passage to Indian vessels amid escalating tensions linked to the US-Israel war.Government sources confirmed on Saturday that the LPG tanker Shivalik has successfully exited the narrow waterway and entered open sea. The vessel is currently being escorted by the Indian Navy and is expected to reach an Indian port within the next two days. Mumbai or Kandla is likely to be its destination.The ship is sailing safely under the...

Chhatrapati Sambhajinagar Industries Seek Rs 5 Per Unit Power Tariff Cut Amid Rising Production Costs Industrial Bodies Submit Demands to Maharashtra Government Industrial associations in Chhatrapati Sambhajinagar, Maharashtra, have demanded a reduction of Rs 5 per unit in electricity tariffs, citing rising production costs linked to the ongoing West Asia crisis, officials said on Saturday.Earlier in the week, the district administration asked local industrial associations to submit a list of their demands. The proposals were subsequently presented to Maharashtra Industries Minister Uday Samant during a meeting.Energy and Raw Material Costs Put Pressure on Industries Chhatrapati Sambhajinagar, a major industrial centre in the...

JSW Steel to Develop Minas de Revubo Coking Coal Mine in Mozambique in Phases Project Targets Long-Term Raw Material Security for Steel Operations JSW Steel is set to develop the Minas de Revubo coking coal mine in Mozambique in a phased manner as part of its strategy to secure critical raw material supplies for steel production, the company said in a statement.The Minas de Revubo mine is located in the Moatize coal basin in Mozambique’s Tete Province. The asset holds an estimated 850 million tonnes of reserves, with the potential to yield around 250 million tonnes of usable coking coal.First Phase Development Planned Over 2.5 Years According to the company, the project will be executed in phases. The first phase is expected to be...

Meta Weighs Potential Layoffs of Up to 20 Percent as AI Investment Accelerates Company Reportedly Reviewing Workforce Cuts Amid Push for Greater Operational Efficiency New Delhi, March 14: Meta Platforms is reportedly considering another major round of layoffs as the US technology giant increases spending on artificial intelligence infrastructure and seeks to improve operational efficiency.According to a Reuters report citing sources familiar with the matter, internal discussions have explored the possibility of cutting up to 20 percent or more of the company’s workforce. Based on Meta’s headcount of nearly 79,000 employees as of the end of December, such a move could affect around 16,000 workers.Meta Says No Final Decision Has Been...

CAIT Urges Madhya Pradesh Government to Restore Limited Commercial LPG Supply in Bhopal Traders Warn of Possible Shutdown of Hospitality Sector Amid LPG Shortage Bhopal, March 14: The Confederation of All India Traders (CAIT) on Saturday urged the Madhya Pradesh administration to immediately restore a limited supply of commercial LPG cylinders in Bhopal, warning that continued shortages could lead to a complete shutdown of the city's hospitality and food service sector.According to the traders' body, prolonged disruption in LPG supply may force hotels, restaurants, and sweet shops to halt operations, threatening thousands of livelihoods and affecting daily food services across the state capital.CAIT Calls Hospitality Sector an...

Kerala Cabinet Approves Rs 810 Crore Land Acquisition for Vizhinjam International Seaport Development 230 Acres to Be Acquired for Port-Led Industrial Activities The Kerala government has approved the acquisition of 230 acres of land at an estimated cost of around Rs 810 crore to support development activities linked to the Vizhinjam International Seaport.The decision was taken during a cabinet meeting chaired by Chief Minister Pinarayi Vijayan on Friday, according to an official statement from the Chief Minister’s Office.The land acquisition will cover areas in Kottukal, Maranallur, and Amaravila, and will be carried out under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act...

BSE Conducts Mock Trading Session Across Multiple Market Segments to Test System Stability Mock Trading Exercise Held as Part of Periodic System Testing Mumbai, March 14: The Bombay Stock Exchange (BSE) conducted a mock trading session on Saturday across several market segments as part of its routine system testing process aimed at ensuring operational stability and efficiency.The exercise covered multiple segments including equity, commodity, currency, electronic gold receipt (EGR), and equity derivatives. Trading members were allowed to log in between 9:15 am and 10:00 am to participate in the mock trading session and test their systems.Exercise Designed to Test Connectivity and Trading Infrastructure The mock trading session...

Government Approves 288 Shipbuilding Contracts Worth Rs 19,748 Crore Under SBFAP 456 Vessels Receive In-Principle Approval as India Pushes Maritime Manufacturing New Delhi, March 14: The government has granted in-principle approval to 288 shipbuilding contracts worth Rs 19,748 crore, covering the construction of 456 vessels, under the Shipbuilding Financial Assistance Policy (SBFAP), the government said on Saturday.Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said that Rs 620.57 crore in financial assistance has already been disbursed to 23 shipyards for the construction and delivery of 204 vessels under the scheme.Wide Range of Vessel Types Covered The approved projects span a wide variety of vessel...

Indian Stock Market Falls Nearly 6% in a Week as Rising Crude Prices and West Asia Tensions Weigh on Sentiment Benchmarks Slide Sharply Amid Global Uncertainty Mumbai, March 14: Indian equity benchmarks witnessed heavy selling pressure during the week, with the broader market declining sharply as escalating geopolitical tensions in West Asia and rising crude oil prices dampened investor sentiment.The Nifty index declined by 5.31 per cent during the week and fell 2.06 per cent on the final trading session, closing at 23,151. Meanwhile, the Sensex ended the session 1,470 points lower, or 1.93 per cent down, at 74,563.The correction across equities was largely attributed to the surge in crude oil prices and growing macroeconomic...

India’s Services Exports Reach $348.4 Billion in April to January FY26, Strengthening Role in Economic Growth Services Exports Maintain Strong Momentum in FY26 India’s services exports continued to demonstrate strong momentum in FY2025-26, supported by steady global demand for Indian services. According to an official factsheet released on Saturday, the country’s services exports are estimated at $348.4 billion during the April to January period of FY26.The data highlights the growing significance of the services sector in India’s economic expansion and its increasing contribution to the country’s external sector performance.Services Share in GDP Continues to Rise The services sector has significantly increased its contribution to...

NMDC Becomes First Indian Mining Company to Produce 50 Million Tonnes of Iron Ore in a Single Financial Year Historic Production Milestone Achieved in FY 2025-26 New Delhi, March 14: State-owned mining major NMDC has become the first mining company in India to produce 50 million tonnes (MT) of iron ore in a single financial year, achieving the milestone ahead of the close of FY 2025-26.The landmark production level marks a significant achievement for the Navratna Central Public Sector Enterprise operating under the Ministry of Steel and highlights its growing role in supporting the country’s steel industry.From 10 MT to 50 MT: Decades of Production Growth Established in 1958 to develop India's iron ore resources, NMDC has steadily...

Air India and Air India Express Schedule 80 Flights to West Asia Amid US-Israel Iran Conflict; IndiGo Introduces Fuel Surcharge Air India Group Continues West Asia Operations with Scheduled and Non Scheduled Flights New Delhi, March 14: Air India and Air India Express are set to operate a total of 80 scheduled and non scheduled flights to and from the West Asia region on Saturday as the US-Israel and Iran conflict continues to impact the region.The airline group confirmed that both carriers will continue their scheduled services to key destinations including Jeddah and Muscat on March 14.According to the airline, a total of 10 flights will operate to and from Jeddah, while Air India Express will run eight scheduled flights to and...

Bayer Targets India as One of Its Top Markets by 2030, Expands Innovation and Investment Push Bayer CEO Bill Anderson Outlines Strategic Growth Plans for India Bayer AG Chief Executive Officer Bill Anderson has outlined an ambitious plan to elevate India into one of the company’s top global markets by 2030. The German life sciences company is supporting this strategy through investments across its three key divisions: crop science, pharmaceuticals, and consumer health.Speaking in Bengaluru during the inauguration of Bayer’s new innovation hub, Anderson said the company now views India as far more than a back office for global operations. He emphasized that the work produced at the facility contributes directly to Bayer’s worldwide...

India’s Sunflower Oil Imports Drop 51% in February as West Asia Conflict Drives Prices Higher Black Sea Supply Disruptions and Higher Freight Costs Impact Trade India’s imports of crude sunflower oil plunged by 51 percent to 1,45,000 tonnes in February, as geopolitical tensions and supply disruptions pushed prices higher and constrained shipments, according to the Solvent Extractors' Association of India (SEA).The sharp decline in imports comes amid ongoing conflict in West Asia and disruptions to shipping routes linked to the Black Sea region, both of which have increased freight costs and tightened global supplies.Import Prices Rise Sharply Amid Supply Concerns SEA said the average import price of crude sunflower oil increased by...

FIEO Urges Government to Prioritize LPG and Natural Gas Supply for Export-Oriented Units New Delhi, March 12: The Federation of Indian Export Organisations (FIEO) has urged the government to prioritize the allocation of LPG and natural gas to export-oriented manufacturing units, warning that disruptions in fuel supply could impact production schedules and export commitments.FIEO President S C Ralhan said he has written to the commerce and industry ministry highlighting the concerns of manufacturing exporters facing difficulties due to fuel supply uncertainties.Exporters Seek Dedicated Fuel Allocation Ralhan emphasized the need for a prioritized allocation mechanism for LPG and natural gas as industrial fuel for export-oriented units...

Audi India to Increase Car Prices by Up to 2 Percent from April 1, 2026 Price Hike to Apply Across Entire Audi Model Range in India New Delhi, March 12 Audi India announced on Thursday that it will increase the prices of its vehicles by up to 2 percent starting April 1, 2026. The revision will apply to the entire model range sold in the Indian market.The German luxury carmaker stated that the price adjustment is being implemented in response to rising input costs and fluctuations in currency rates, which have increased the company’s overall operating expenses.Company Cites Rising Costs and Currency Fluctuations According to Balbir Singh Dhillon, Brand Director of Audi India, the company has attempted to keep the increase limited...