Business

US Launches Trade Investigations Into India, China, EU and Other Partners Over Manufacturing Practices Probe Initiated Under Section 301 of Trade Act New York, March 12 – The United States has launched investigations into several of its major trading partners, including India, China, Japan, and the European Union, to examine what it described as “unfair foreign practices” that may be harming American manufacturing.United States Trade Representative Jamieson Greer announced that the probe has been initiated under Section 301(b) of the Trade Act of 1974. The investigation will examine the acts, policies, and practices of certain economies related to structural excess capacity and production in manufacturing sectors.Multiple Economies...

Global Oil Prices Surge Over 8% as Middle East Tensions Spark Supply Concerns Mumbai, March 12: Global crude oil prices surged sharply on Thursday as markets reacted to growing concerns over potential supply disruptions linked to the escalating tensions in the Middle East.Despite a major coordinated effort to boost supply through emergency reserves, oil markets continued to climb as traders assessed the risks to global energy flows.Brent Nears $100, WTI Jumps Close to $95 Benchmark crude prices rose more than 8 per cent during the day. West Texas Intermediate (WTI) gained about 8.8 per cent to trade near $95 per barrel, while Brent crude climbed around 8.9 per cent to hover near $100 per barrel.The sharp rise reflected strong...

Sensex and Nifty Slide in Early Trade as Crude Oil Surge and Global Weakness Weigh on Sentiment Mumbai, March 12: Indian benchmark indices Sensex and Nifty fell sharply in early trading on Thursday, as a surge in global crude oil prices and ongoing geopolitical tensions in the Middle East dampened investor sentiment.Weak global market trends and continued foreign institutional investor outflows further added to the cautious mood in domestic equities.Benchmark Indices Fall in Early Session The 30 share BSE Sensex declined 992.53 points to 75,871.18 during early trade.Similarly, the 50 share NSE Nifty dropped 310.55 points to 23,556.30, reflecting broad based selling across several sectors.Major Sensex Stocks Under Pressure Among...

Rupee Falls 31 Paise to 92.32 Against US Dollar in Early Trade Amid Rising Oil Prices and FII Outflows Rupee Opens Weaker in Early Thursday Trade The Indian rupee depreciated by 31 paise to 92.32 against the US dollar in early trade on Thursday, pressured by foreign fund outflows, rising global crude oil prices, and a stronger US dollar amid ongoing tensions in the Middle East.At the interbank foreign exchange market, the domestic currency opened at 92.25 against the US dollar and further declined to 92.32. The fall comes after the rupee settled at 92.01 against the US dollar on Wednesday, when it had already weakened by 16 paise.Traders said the weak opening in the domestic equity markets also added pressure on the local currency...

Indian Stock Market Opens Sharply Lower as Brent Crude Surges Above $100 Rising Oil Prices and Geopolitical Tensions Weigh on Investor Sentiment Mumbai, March 12: Indian equity markets opened sharply lower on Thursday as surging global crude oil prices and escalating geopolitical tensions between the United States and Iran dampened investor sentiment.Benchmark indices witnessed heavy selling in early trade after Brent crude crossed the crucial $100 per barrel level, triggering concerns about rising inflation and potential economic instability.Sensex, Nifty Slide in Early Trading The BSE Sensex dropped 972.99 points, or 1.27 per cent, to 75,890.72 during early trading. The NSE Nifty also declined 299.45 points, or 1.22 per cent, to...

South Korean Won Weakens as Oil Prices Surge Amid Middle East Tensions Won Falls Against Dollar at Market Open The South Korean currency weakened against the US dollar on Thursday as rising global oil prices and escalating geopolitical tensions in the Middle East weighed on markets.The won opened at 1,480.1 per dollar, marking a decline of 13.6 won compared with the previous session.The currency had strengthened during the prior two sessions after rebounding from a 17 year low. The recovery followed remarks from US President Donald Trump suggesting that the conflict in the Middle East could end soon, while global oil prices also showed signs of stabilizing during that period.Oil Price Surge Triggers Currency Pressure The Korean...

Record Monthly Outflow from South Korean Equities Foreign investors pulled a record amount of capital from South Korean equities in February, reflecting growing caution among global investors about potential overheating in artificial intelligence related stocks and a wave of profit booking after recent market gains.Data released by the Bank of Korea (BOK) on Thursday showed that offshore investors sold a net $13.5 billion worth of South Korean equities during the month. This followed net selling of $500 million in January.The February outflow marked the largest monthly withdrawal of foreign funds from the country’s stock market on record. It surpassed the previous high of $11.04 billion recorded in March 2020.Bond Market Sees...

South Korean Stocks Slip as Oil Price Volatility Weighs on Investor Sentiment KOSPI Extends Losses Amid US Iran Tensions and Energy Market Uncertainty South Korean stocks traded lower on Thursday morning as investors remained cautious amid continued volatility in global oil prices linked to the ongoing US Iran conflict.The benchmark Korea Composite Stock Price Index (KOSPI) dropped 43.49 points, or 0.78 percent, to 5,566.46 as of 11:20 a.m., reflecting subdued investor sentiment across key sectors.Market participants remained wary despite the International Energy Agency announcing plans to release oil reserves in an effort to ease concerns over supply disruptions at the Strait of Hormuz. The critical shipping route remains a focal...

Fire at External Warehouse Controlled; Aether Industries Confirms No Injuries, Operations Unaffected Surat, March 11, Wednesday – Aether Industries Limited (NSE: AETHER | BSE: 543534) informed the exchanges that a fire broke out at one of its external warehouses in Sachin, Surat, on Wednesday afternoon. The company stated that the incident was brought under control within a few hours and has not affected its core operations. According to the company, the fire was reported at around 13:00 hrs at its external warehouse located at Plot Nos. 24/9 and partially 24/10, Hojiwala Industrial Estate, Sachin, Surat. The blaze was fully controlled by approximately 15:30 hrs. The company clarified that the fire originated at the adjacent premises of...

Rupee Falls 16 Paise to Close at 92.01 Against US Dollar as Crude Oil Prices Surge Rising Oil Prices and Stronger Dollar Pressure the Indian Currency The Indian rupee weakened on Wednesday, falling by 16 paise to settle at 92.01 against the US dollar in the interbank foreign exchange market. The decline comes as global crude oil prices surged and the US dollar strengthened amid escalating tensions in West Asia.Currency traders said the rupee also faced pressure due to continued foreign institutional investor outflows and weak sentiment in domestic equity markets.Rupee Trades in Volatile Range During the Session During the trading session, the rupee opened at 91.92 against the US dollar. It moved within a range of 91.85 to 92.06...

Sensex, Nifty Fall Nearly 2% as Rising Crude Oil Prices and Foreign Fund Outflows Weigh on Markets Benchmark Indices End Sharply Lower The benchmark indices of the Indian stock market, Sensex and Nifty, closed nearly 2% lower on Wednesday as rising crude oil prices and persistent foreign fund outflows pressured investor sentiment.The decline comes after a brief recovery in the previous session, with escalating tensions in the Middle East pushing global oil prices higher and triggering selling across key sectors in the domestic market.The 30 share BSE Sensex dropped 1,342.27 points, or 1.72%, to settle at 76,863.71. During intraday trading, the index had fallen as much as 1,446.72 points, or 1.84%, touching 76,759.26.The 50 share...

FPI Investments in FAR Government Securities Drop by ₹4,634 Crore Amid Middle East Tensions Foreign portfolio investors have reduced their exposure to India’s Fully Accessible Route government securities as global market volatility intensifies following the Middle East conflict. The shift reflects increasing caution among overseas investors due to rising crude oil prices, a weakening rupee, and higher bond yields.FPI Holdings in FAR Securities Decline Data from the Clearing Corporation of India Ltd shows that total foreign portfolio investment in FAR government securities declined by about ₹4,634 crore since the conflict began.As of Tuesday, FPI holdings stood at around ₹3.26 lakh crore, compared with approximately ₹3.31 lakh crore...

Bharat Forge Inaugurates Landing Gear Components Machining Facility in Pune with Liebherr Aerospace New Aerospace Manufacturing Facility Strengthens India’s Position in Global Supply Chains Mumbai, March 11: Bharat Forge’s aerospace division has inaugurated a new landing gear components machining facility in Mundhwa, Pune, in collaboration with Liebherr Aerospace & Transportation SAS, headquartered in Toulouse, France.The company said the facility represents a significant step toward strengthening India’s aerospace manufacturing ecosystem and enhancing the country’s participation in global aerospace supply chains.Advanced Machining Capabilities for High Precision Components The new facility integrates advanced machining centres...

Just In Time Plans 45 to 50 New Stores in India as Premium Watch Demand Rises Watch Retailer Targets Pan India Expansion in Five Years New Delhi, March 11 Watch retailer JUST IN TIME plans to add 45 to 50 new stores over the next two years as part of its strategy to expand its retail footprint across India. The company aims to establish a pan India presence within the next five years, according to Chief Executive Officer Ronak Shah.The Mumbai based retailer currently operates 82 boutiques across 18 cities in the country. The planned expansion is expected to significantly strengthen its sales network and bring the brand to more locations nationwide.Ayushmann Khurrana Appointed Brand Ambassador As part of its brand building efforts...

Trump Says Reliance Industries to Invest in Texas Oil Refinery Project US President Highlights $300 Billion Energy Deal US President Donald Trump has said that India’s Reliance Industries will invest in a new oil refinery project being developed in Texas, describing the agreement as a “historic USD 300 billion deal”. The announcement was made through a social media post on Tuesday.Trump said the project is being enabled by his administration’s “America First agenda” and called it the largest deal in US history. According to the US President, the initiative represents a major development for American energy production and employment.Reliance Yet to Issue Official Statement Despite the announcement, Reliance Industries has not issued...

India Secures LPG and LNG Supplies Through Alternative Routes Amid West Asia Crisis Government Moves to Safeguard Domestic Fuel Availability New Delhi, March 11: India has secured supplies of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) through alternative routes following reports of potential shortages triggered by the ongoing crisis in West Asia. Government officials confirmed that shipments sourced from alternate locations are expected to arrive in the country soon, helping stabilize domestic fuel availability.The move comes as authorities work to ensure uninterrupted access to essential cooking fuels for households while global energy markets remain volatile.Domestic LPG Production Increased by 10 Percent In...

Rupee Slips to 91.89 Against US Dollar in Early Trade Amid FII Outflows Rupee Opens Weaker in Interbank Market The Indian rupee declined by 4 paise to 91.89 against the US dollar in early trading on Wednesday, pressured by continued foreign institutional investor outflows and geopolitical tensions in the Middle East.At the interbank foreign exchange market, the domestic currency opened at 91.92 against the US dollar before strengthening slightly to 91.89. The move marked a 4 paise decline compared to its previous closing level.Recovery Seen in Previous Session In the previous trading session, the rupee had staged a sharp recovery from its record low, gaining 36 paise to close at 91.85 against the US dollar.During Tuesday’s...

Indian Stock Market Opens Lower Amid Geopolitical Tensions; Midcap and Smallcap Stocks Outperform Benchmark Indices Trade Slightly Lower in Early Session Indian equity markets opened on a cautious note on Wednesday as investors remained watchful of geopolitical developments linked to the ongoing US-Israel-Iran conflict and the continued disruption in the Strait of Hormuz.As of 9:25 am, the BSE Sensex declined by 109 points, or 0.14 percent, to 78,096, while the NSE Nifty slipped 26 points, or 0.11 percent, to 24,234.Despite the modest losses in frontline indices, broader markets showed strength during early trade.Broader Markets Outperform Benchmark Indices The broader market indices outperformed the benchmark indices, reflecting...

Chevron and Shell Near Major Oil Production Deals in Venezuela After Oil Law Reform Chevron and Shell are reportedly close to securing the first major oil production agreements in Venezuela since the United States captured President Nicolas Maduro in January. According to five sources familiar with the negotiations, the deals could allow the two global energy companies to expand production in key oil regions of the South American nation.The developments come amid broader efforts to revive Venezuela’s oil sector, which has suffered decades of underinvestment and operational decline.Venezuela Reforms Oil Law to Attract Foreign Investment In late January, Venezuela’s National Assembly approved a sweeping reform to the country’s main...

India Diversifies Energy Imports to Ensure Stable Domestic Gas Supply Amid Geopolitical TensionsNew Delhi, March 10 – India is actively diversifying its energy import sources beyond West Asia to safeguard fuel supplies, Union Petroleum and Natural Gas Minister Hardeep Singh Puri stated on Tuesday, assuring that domestic gas availability remains stable despite rising geopolitical tensions in the region.Speaking during an informal interaction with the media, Puri highlighted that India continues to receive energy imports through multiple sources and supply routes, helping maintain stability in the country’s fuel supply even amid ongoing regional conflicts.“In today's informal interaction with members of the media fraternity, we...