Business

South Korea Fuel Prices Fall After Government Introduces Temporary Price Cap Retail Fuel Prices Drop Following Policy Intervention Fuel prices at gas stations across South Korea have declined notably after the government introduced a temporary fuel price cap last week, according to the Ministry of Trade, Industry and Resources.Data released by the ministry shows that the average nationwide gasoline price stood at 1,840.1 won per litre as of Sunday, marking a decline of 58.7 won from Thursday, the day before the price ceiling system came into effect.The average retail price of diesel also fell, dropping 77.8 won to 1,841.2 won per litre during the same period.Government Introduces Price Ceiling on Refinery Supplies The decline in...

South Korean Won Falls Past 1,500 per Dollar for First Time in 17 Years as Oil Prices Surge Currency Weakens Amid Middle East Conflict and Rising Crude Prices The South Korean won weakened sharply on Monday, slipping past the 1,500 per dollar mark for the first time in 17 years, as rising global oil prices and geopolitical tensions in the Middle East pressured financial markets.The currency opened at 1,501 won per US dollar, down 7.3 won from the previous session, marking the first time the 1,500 level was breached in intraday trading since March 12, 2009, when markets were grappling with the global financial crisis.However, the won later recovered some of its losses. By 9:30 a.m., it was trading at 1,494.15 won per dollar...

Hindalco Clarifies Aluminium Extrusion Operations Continue Normally Amid Supply Concerns Company Says Customer Communication Was Routine Notification After Gas Suppliers Declared Force Majeure New Delhi, March 15 Hindalco Industries on Sunday clarified that it has not halted operations of its aluminium extrusion business, stating that a recent communication sent to customers was a routine notification about a potential supply disruption following force majeure declarations by certain gas suppliers.The company said the communication was issued as part of standard business practice and does not indicate any shutdown of its aluminium extrusion operations.Limited Impact Confined to Small Segment Hindalco stated that evolving...

FarEye Sees Rising Demand From Global Postal Operators Amid E Commerce and Logistics Expansion New Delhi, March 15 Software as a service company FarEye is witnessing strong growth momentum from postal operators across the world as they modernize their systems to handle the next phase of parcel delivery, e commerce growth, and cross border logistics, according to a senior company official.The company is currently working with seven national postal operators across the EMEA region, which includes Europe, the Middle East and Asia, as well as the APAC region covering Asia Pacific markets.Engagement With Global Postal Networks Expands FarEye is also engaged in advanced discussions with more than 15 postal operators worldwide as...

Gold and Silver Prices May See Further Correction as Markets Track West Asia Conflict and Central Bank Decisions Investors Focus on Geopolitical Developments and Global Monetary Policy Signals New Delhi, March 15 Gold and silver prices may experience additional corrective movements in the coming week as investors monitor geopolitical developments in West Asia and closely track major central bank policy meetings that could influence global monetary policy.Market participants are expected to keep a close watch on the evolving conflict in West Asia. Analysts say any signs of escalation or de escalation in the region could trigger sharp volatility across financial markets, including bullion.Pranav Mer, Vice President of EBG Commodity...

Gen Z to Drive $1.3 Trillion Consumption in India by 2030, Redseer Report Highlights Gen Z Population Share Expected to Reach 27% by 2030 New Delhi, Sunday, March 15: Generation Z is set to become a powerful force in India’s consumer economy by the end of the decade. By 2030, Gen Z will account for about 27 percent of India’s population and contribute nearly USD 1.3 trillion in consumption, according to a report by Redseer Strategy Consultants.The report, titled “Gen Z: Defining Trends, Influencing Spends,” highlights how individuals born between 1997 and 2012 are shaping consumption patterns with a strong focus on experiences, sustainability, and digital convenience.According to the report, this generation prioritizes inclusivity...

SiXiT Targets ₹300 Crore Revenue in Three Years, Signs Arshdeep Singh as Brand Ambassador Cricket Brand SiXiT Plans Major Growth with Product Expansion and Wider Distribution Chennai, March 14Cricket equipment brand SiXiT has set an ambitious growth target, aiming to generate ₹300 crore in revenue over the next three years as it expands its product range and strengthens its nationwide distribution network.The company announced on Saturday that it has appointed India pacer Arshdeep Singh as the brand ambassador for its cricket ball category. The move is part of SiXiT’s strategy to boost visibility and connect with the growing base of cricket players across the country.Company Valued at ₹125 Crore Currently valued at ₹125 crore...

India Amends Electricity Rules to Clarify Captive Power Generation Framework Government Updates Electricity Norms to Support Industry and Energy Transition New Delhi, March 14: The government on Saturday announced amendments to electricity norms aimed at providing greater clarity for captive power generation, particularly for industries, as part of India’s broader energy transition strategy.According to the Ministry of Power, generating electricity closer to the point of consumption helps reduce transmission losses, improve system efficiency, and strengthen overall grid resilience.Amendments Finalized After Stakeholder Consultations The ministry stated that the Electricity (Amendment) Rules, 2026 have been notified following...

India’s Economy Remains Resilient Despite Middle East Conflict, Says Piyush Goyal Strong Economic Fundamentals Help India Navigate Global Uncertainty New Delhi, March 14: Union Commerce and Industry Minister Piyush Goyal said on Saturday that India’s economy remains resilient despite the ongoing conflict in the Middle East, although the situation may cause a short term impact on economic activity.Speaking at a media event in New Delhi, Goyal emphasized that India’s strong economic fundamentals will help the country manage the current phase of global uncertainty.“India is a resilient country with strong fundamentals. While we have a war going on, Indians understand the challenges and are willing to work with the government,” Goyal...

India Holds Comfortable Fertilizer Stocks for 2026 Kharif Season Despite Iran Conflict Disruptions Strong Inventory Levels for Key Fertilizers India currently has sufficient fertilizer stocks to support the 2026 Kharif planting season, with key nutrients such as urea, diammonium phosphate (DAP), and NPK available at comfortable levels despite supply disruptions linked to the ongoing conflict in Iran, according to government sources.Urea stocks are estimated at around 62 lakh tonnes, which is nearly 10 lakh tonnes higher than the level recorded during the same period last year.DAP inventories stand at about 25 lakh tonnes, almost double the year-ago level. Meanwhile, NPK stocks have reached a record 56 lakh tonnes, significantly...

Domestic LPG Production Rises 31% as Government Moves to Secure Cooking Gas Supply Surge in Production Aimed at Stabilizing Supply New Delhi, March 14: The government said on Saturday that domestic LPG production has increased by around 31 percent as part of efforts to maintain a steady supply of cooking gas amid the evolving geopolitical situation in West Asia.The update was shared during the fourth inter ministerial media briefing, where officials from the Ministries of Petroleum and Natural Gas, External Affairs, Ports, Shipping and Waterways, and Information and Broadcasting provided updates on energy supplies, maritime operations, and the safety of Indian nationals in the region.Refineries Operating at High Capacity Officials...

Centre Announces Rs 100 Crore Integrated Aqua Park Project in Anantnag to Boost Fisheries and Employment Project Aims to Strengthen Aquaculture Infrastructure in Jammu and Kashmir Srinagar, March 14: Union Minister Rajiv Ranjan Singh on Saturday announced a Rs 100 crore Integrated Aqua Park Project in Anantnag district of Jammu and Kashmir, aimed at strengthening aquaculture infrastructure and generating employment opportunities in the region.Singh, who holds the portfolios of Fisheries, Animal Husbandry and Dairying (FAHD) and Panchayati Raj, made the announcement during the National Conference on Cold Water Fisheries organized by the Department of Fisheries in Srinagar.The conference was attended by Jammu and Kashmir Lieutenant...

Lanka IOC Assures Continued Fuel Supply to Sri Lanka Amid Middle East Conflict Lanka Indian Oil Corporation Reaffirms Energy Security Commitment Colombo, March 14: Lanka Indian Oil Corporation (LIOC), the Sri Lankan subsidiary of Indian Oil Corporation, has assured uninterrupted fuel supplies to the island nation despite the ongoing conflict in the Middle East.The assurance was given by K Raghu, Managing Director of LIOC, during an address to a gathering of management students in Colombo on Saturday.“As the Managing Director of Lanka IOC, I want to assure everyone that you are all in safe hands,” Raghu said while emphasizing the company’s commitment to maintaining energy stability in Sri Lanka.Coordination Between Sri Lanka and...

Australia Faces Jet Fuel Supply Risks as China Halts Fuel Exports Amid Middle East Uncertainty New Delhi, March 14: Australia’s exposure to liquid fuel shortages and potential price spikes has intensified after reports that China has instructed its oil refiners to halt fuel exports, raising concerns over jet fuel availability and possible disruptions to aviation operations.A report by The Conversation said the development comes at a time when global energy markets remain unsettled due to the ongoing Iran conflict and its implications for oil supplies.Chinese Export Halt Raises Immediate Supply Concerns According to the Australian Financial Review, Chinese authorities have asked domestic refiners to stop exporting fuel, casting...

South Korea and Japan Agree to Launch Regular Industry Dialogue to Strengthen Supply Chain and Trade Cooperation New Policy Channel to Address Trade, Economic Security, and Supply Chain Issues Seoul, March 14: South Korea and Japan have agreed to establish a regular communication channel between their industry ministries to coordinate on trade, economic security, and supply chain matters. The move is aimed at strengthening cooperation as global trade conditions and geopolitical dynamics continue to evolve.The agreement was reached during a meeting between South Korean Industry Minister Kim Jung-kwan and Japanese minister Ryosei Akazawa. The discussion took place on the sidelines of the inaugural Indo-Pacific energy security...

Akasa Air Introduces Fuel Surcharge on Tickets From March 15 Amid Rising Jet Fuel Prices Airline to Levy Charges Between ₹199 and ₹1,300 on Domestic and International Flights New Delhi, March 14: Akasa Air has announced that it will introduce a fuel surcharge on flight tickets starting March 15, as airlines face rising aviation turbine fuel costs linked to the ongoing conflict in West Asia.The airline said the surcharge will apply to both domestic and international routes for bookings made from 00:01 hrs on March 15, 2026.According to the company, the fuel surcharge will range between ₹199 and ₹1,300 per flight, depending on the duration of the journey.Fuel Cost Surge Drives Additional Charges In a statement issued on Saturday...

Gold Prices Slip 0.73% After Multi Week Highs; Silver Declines Sharply Precious Metals See Weekly Pullback Amid Strong US Dollar and Profit Booking New Delhi, March 14: Gold prices declined 0.73 percent during the week as investors booked profits after the metal reached multi week highs.On Friday, MCX gold February futures slipped 0.04 percent, while MCX silver March futures recorded a sharper fall of 3.24 percent. Gold futures were trading at Rs 1,58,400, while silver futures stood at Rs 2,59,279 per kg.According to data published by the India Bullion and Jewellers Association, the price of 10 grams of 24 carat gold was Rs 1,58,399 on Friday, down from Rs 1,59,568 recorded on Monday.Strong US Dollar and Rate Expectations Weigh on...

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...