Business

Government Calls for Transparent Petroleum Pricing Seoul, March 9: South Korea’s Industry Minister Kim Jung-kwan on Monday urged major oil refiners to avoid excessive fuel price increases as international crude oil prices surge due to the ongoing tensions in the Middle East.During a meeting in Seoul with representatives from leading oil refining companies and government authorities, Kim emphasized the need for transparent and fair petroleum pricing so that consumers are not unfairly burdened by global price fluctuations.“We request that transparent and fair petroleum pricing be implemented to ensure that the burden of rising international oil prices due to the recent situation in the Middle East is not unilaterally or excessively...

South Korean Stocks Plunge Nearly 8 Percent as KOSPI Trading Halted Amid Global Tensions KOSPI Slides Sharply After Circuit Breaker Triggered Seoul, March 9: South Korean stocks dropped sharply on Monday, with the benchmark Korea Composite Stock Price Index (KOSPI) falling nearly 8 percent in late morning trading after the Korea Exchange temporarily halted transactions due to extreme volatility.The KOSPI declined by 445.88 points, or 7.98 percent, to 5,138.99 as of 11:20 a.m. local time. The steep fall came after trading resumed following a 20 minute suspension earlier in the session.The Korea Exchange triggered a circuit breaker at 10:31 a.m. after the index plunged 452.8 points, or 8.11 percent, to 5,132.07. Under exchange rules...

India Plans 50 Inbound Flights From West Asia on Monday Amid Iran War Disruptions Airlines Prepare Operations From Key Gulf Airports New Delhi, March 9: Indian airlines have scheduled 50 inbound flights from airports across West Asia on Monday as authorities monitor the ongoing disruption caused by the Iran war. The planned operations remain subject to operational feasibility and prevailing conditions in the region.Flights are expected to operate from major regional hubs including Dubai, Abu Dhabi, Ras Al Khaimah, Fujairah, Muscat, and Jeddah. Carriers involved in these operations include Air India, Air India Express, IndiGo, SpiceJet, and Akasa.Government Monitoring Situation Affecting Air Travel The Ministry of Civil Aviation said...

Iran's Leadership Transition Sparks Concerns for China's Strategy Global Attention Focuses on Iran's Future Leadership The death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, has created uncertainty regarding the country's leadership, drawing global attention and prompting analysts to debate a potential successor, according to a report.China's Economic Ties with Iran and Strategic Implications Experts believe a key question arising from this crisis is its impact on China’s long-term strategy, particularly as Beijing anticipates geopolitical tensions involving Taiwan. China maintains deep economic ties with Iran and is the largest buyer of Iranian crude oil. Last year, Beijing purchased nearly 90 per cent of Iran's exported crude...

Government Eases Customs Procedures for Returned Export Cargo Disruptions Prompt Temporary Relief for Exporters The central government has announced a relaxation of customs procedures for export cargo returning to India, responding to disruptions in key maritime routes. These disruptions, including the closure of the Strait of Hormuz, forced ships to turn back, impacting Indian export consignments.Return to Home Requests Addressed Several vessels carrying Indian exports were unable to reach their intended ports, leading some ships to return to Indian ports with cargo already cleared for export. To address concerns from exporters and shipping companies, the Central Board of Indirect Taxes and Customs (CBIC) issued a circular outlining...

RBI Proposes New Rules to Strengthen Customer Protection in Digital Transactions RBI Issues Draft Amendment on Customer Liability for Digital Payments The Reserve Bank of India has released a draft amendment to the rules governing customer liability in digital banking transactions. The proposal aims to enhance safeguards for users and introduce a structured compensation mechanism for small value digital fraud cases.The central bank has invited public comments on the draft framework until April 6, 2026. If finalized, the revised rules are expected to come into effect from July 1, 2026.Expanded Definition of Authorized Electronic Banking Transactions Under the proposed amendment, the RBI has expanded the definition of authorized...

Financial Access Empowering Women Across India, Says FM Nirmala Sitharaman on International Women’s Day Women Gaining Independence Through Financial Inclusion New Delhi, March 8: As India marks International Women’s Day on Sunday, Union Finance Minister Nirmala Sitharaman said that expanding financial access is playing a crucial role in strengthening women’s independence and economic participation across the country.In a message shared on the social media platform X, the Finance Minister highlighted the impact of financial inclusion initiatives such as Jan Dhan accounts and the rise of “Lakhpati Didis”, noting that these efforts are enabling women to take greater control of their financial futures.Sitharaman stated that access to...

Punjab Budget 2026: AAP Government Launches Monthly Cash Transfer Scheme for Women ‘Mukh Mantri Mawan Dhian Satikar Yojna’ Announced in Punjab Budget 2026-27 Chandigarh, March 8: The Aam Aadmi Party government in Punjab on Sunday announced a new financial assistance scheme for women, introducing a monthly cash transfer initiative aimed at supporting adult women across the state.Presenting the Punjab Budget for 2026-27 in the Assembly, Finance Minister Harpal Singh Cheema announced the launch of the Mukh Mantri Mawan Dhian Satikar Yojna, under which eligible women will receive Rs 1,000 per month, while women belonging to the Scheduled Caste (SC) community will receive Rs 1,500 per month directly in their bank accounts.The scheme...

Equity Mutual Fund Allocation Among Indian Women Jumps to 32% in Five Years: Report New Delhi, March 8: Equity mutual fund allocations among Indian women investors have risen sharply over the past five years, increasing from about 10 percent to 32 percent, according to a report released on Sunday by wealth management firm Equirus Wealth.The report highlights a clear shift in investment preferences among women, with traditional instruments such as fixed deposits losing prominence. The share of fixed deposits in women’s portfolios declined from around 45 percent to 20 percent during the same period.Alternative Investments Gain Ground Alongside equities, alternative investment avenues have also gained traction. Allocations to Portfolio...

Top 10 Firms Lose ₹2.81 Lakh Crore in Market Value as L&T, SBI Lead Weekly Decline Broad Market Sell-Off Drags Down India’s Most Valuable Companies Mumbai, March 8: India’s most valuable companies witnessed a sharp erosion in market value during the week, with eight of the top 10 firms collectively losing ₹2,81,581.53 crore as weakness in the equity market weighed on large-cap stocks.Engineering major Larsen & Toubro recorded a significant decline in market valuation, losing ₹45,629.03 crore during the week. The company’s total market capitalization fell to ₹5,43,208.36 crore following the broad sell-off.The downturn in corporate valuations mirrored the performance of the benchmark BSE Sensex, which dropped 2,368.29 points, or 2.91...

Government Plans to Train 1.5 Lakh Multiskilled Caregivers to Strengthen India’s Care Ecosystem Post-Budget Webinar to Focus on Expanding Care Economy and Skilling Initiatives New Delhi, March 8: The Ministry of Skill Development and Entrepreneurship will host a breakout session aimed at strengthening India’s care ecosystem as part of the ongoing Post-Budget Webinar series, according to an official statement released on Sunday.The session will focus on developing 1.5 lakh multiskilled caregivers to address India’s growing domestic demand for care services while also tapping into emerging global opportunities in the care economy.Initiative Linked to Union Budget 2026–27 Vision The discussion will revolve around implementing the...

Punjab Budget 2026-27: Harpal Singh Cheema Presents ₹2.60 Lakh Crore Plan, Says All Promises to People Fulfilled Punjab Government Unveils ₹2,60,437 Crore Budget Ahead of 2027 Polls Chandigarh, March 8: Punjab Finance Minister Harpal Singh Cheema on Sunday presented the state budget for the financial year 2026-27 with a total allocation of ₹2,60,437 crore, stating that the government has fulfilled every promise made to the people since taking office in 2022.The budget marks the fifth financial plan of the Aam Aadmi Party government led by Chief Minister Bhagwant Singh Mann and is the last full budget before the state heads for assembly elections scheduled for early 2027.Budget Dedicated to Women of Punjab While presenting the budget...

Stock Markets This Week: West Asia Conflict and Crude Oil Prices to Drive Investor Sentiment New Delhi, March 8: Developments related to the ongoing conflict in West Asia and the resulting movement in crude oil prices are expected to remain the key factors influencing the direction of Indian stock markets this week.Market participants are likely to closely monitor geopolitical developments along with global market trends and trading patterns of foreign investors, which are expected to play an important role in shaping investor sentiment.Crude Oil Prices and Geopolitical Developments in Focus Analysts indicated that fluctuations in global crude oil prices will remain a major external variable for the markets. Brent crude, the global...

Cipla’s US Arm Recalls Over 400 Cartons of Generic Anti Cancer Drug Nilotinib: USFDA Manufacturing Issue Triggers Recall of Nilotinib Capsules in Two Strengths New Delhi, March 8: Cipla’s US-based subsidiary has recalled more than 400 cartons of a generic anti cancer medication from the United States market due to a manufacturing-related issue, according to the US Food and Drug Administration.In its latest enforcement report, the US health regulator stated that Cipla USA Inc., headquartered in Warren, New Jersey, initiated a recall of specific batches of Nilotinib Capsules available in two strengths: 150 mg and 200 mg.The recall covers 271 cartons from one batch and 164 cartons from another batch of the drug.Reason Behind the...

India Connects Over 2.15 Lakh Gram Panchayats Through BharatNet as Digital Infrastructure Expands New Delhi, March 8: India’s large scale expansion of digital infrastructure has connected more than 2.15 lakh Gram Panchayats through the BharatNet programme, significantly strengthening rural connectivity through optical fiber networks, 5G rollout, and digital public infrastructure, the government said on Sunday.The government stated that the nationwide deployment of optical fiber has increased sharply from 19.35 lakh route kilometres in 2019 to 42.36 lakh route kilometres in 2025, reflecting the rapid growth of digital connectivity across the country.5G Network Now Covers 99.9 Percent of Districts According to the official statement...

Middle East Crisis Pushes Up Fuel and Freight Costs, Raising Pressure on Global Steel Industry Rising Energy Prices and Geopolitical Tensions Impact Steel Markets New Delhi, March 8: The global steel industry, including India, may face mounting market challenges as escalating tensions in the Middle East drive up fuel prices and freight costs, according to a report by BigMint Research.Military hostilities in the region have intensified, with Iran, the United States, and Israel continuing attacks against each other. The conflict has begun to ripple through commodity markets, particularly affecting sectors that depend heavily on energy and transportation.Oil Prices Jump from $70 to $90 per Barrel BigMint analysts noted that key energy...

Air Conditioner Prices Rise Up to 15% as Manufacturers Pass on Higher Costs Ahead of Summer AC Makers Increase Prices Amid Rising Input Costs and Energy Efficiency Changes New Delhi, March 8: Leading air conditioner manufacturers in India have raised prices by 5 to 15 percent as rising raw material costs and supply chain expenses continue to pressure the industry. The price hikes, which began in February and are expected to continue through April, come just ahead of the peak summer season when demand for cooling appliances typically rises.Major brands including Daikin, Voltas, Blue Star, LG, Haier, and Mitsubishi Heavy Industries have implemented price increases across several models. The adjustments reflect higher costs for key raw...

SML Mahindra Limited (formerly SML Isuzu Limited) reported production and sales figures for February 2026. The company produced 1,679 commercial vehicles in February 2026, compared to 1,442 in February 2025. Sales of commercial vehicles reached 1,415 units in February 2026, an increase from 1,229 units in February 2025. Exports totaled 88 units in February 2026, up from 59 units in February 2025.Source:

India Secures Best Trade Deal with US Among Competing Nations, Says Piyush Goyal New Delhi, March 7: Commerce and Industry Minister Piyush Goyal said on Saturday that India has secured the best trade deal with the United States compared with other competing nations, highlighting the strong and multi-dimensional relationship between the two countries.Speaking at the Raisina Dialogue 2026 in New Delhi, Goyal described the India US partnership as powerful and strategic, emphasizing that the relationship extends far beyond trade.Strong India US Relationship Goyal said the ties between the two nations have strengthened significantly in recent years. He pointed out that US President Donald Trump has consistently praised India and Prime...

Meri Policy Mere Haath Campaign Delivers Crop Insurance Policies to Farmers in Bilaspur Bilaspur (HP), March 7: Crop insurance policies are being delivered directly to farmers at their homes under the Himachal Pradesh government's "Meri Policy Mere Haath" campaign, according to Bilaspur Deputy Director of Agriculture Kulbhushan Dhiman.The initiative, which runs until March 15, 2026, aims to ensure that farmers receive their crop insurance documents and understand the benefits and coverage available under the scheme.Doorstep Delivery of Crop Insurance Policies Dhiman said that representatives from agricultural insurance companies are visiting farmers’ homes to hand over the insurance policies. The effort is designed to provide...