Business

RBI Caps Bank Dividends at 75 Per Cent of Profits Starting FY 2026-27Mumbai, March 10 – The Reserve Bank of India has announced a new ceiling on dividend payouts by banks, limiting them to a maximum of 75 per cent of profit after tax (PAT), effective from the financial year 2026-27.The central bank released the Reserve Bank of India (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittances of Profits) Directions, 2026, following extensive consultations with industry stakeholders.Under the new norms, banks must ensure that their regulatory capital remains above the required threshold even after dividend payments. Additionally, foreign banks operating in India through branches must record a positive PAT for the...

IndiGo Co-Founder Rahul Bhatia Takes Charge Following CEO Pieter Elbers’ Sudden ResignationNew Delhi, March 10 – IndiGo Co-Founder and Managing Director Rahul Bhatia has announced that he will be directly managing the airline’s affairs with a strong commitment to responsibility and operational excellence, following the abrupt resignation of CEO Pieter Elbers on Tuesday.In a message to staff, Bhatia acknowledged the airline’s troubled period last December, describing the disruptions as an event that should never have occurred. "Our customers didn't deserve it, and nor did all of you, especially the frontline employees who bore most of the brunt for no fault of theirs," he said.Bhatia emphasized his dedication to both employees and...

Sri Lanka Raises Fuel Prices Over 8% as Global Oil Surge Triggers Panic Buying Retail Fuel Prices Increased to Control Hoarding Sri Lanka has raised retail fuel prices by more than 8 percent, effective from midnight on Monday, as authorities attempt to curb hoarding and panic buying following the sharp rise in global crude oil prices. Officials confirmed the revision on Tuesday, March 10.The move comes as international crude oil prices crossed USD 100 per barrel for the first time in four years amid escalating tensions in the Middle East.Petrol and Diesel Prices Raised by LKR 22 Per Litre According to the state run Ceylon Petroleum Corporation (CPC), prices of commonly used petrol and diesel variants have been increased by LKR 22...

Apple Boosts iPhone Production in India by 53% in 2025 as Exports Surge Apple significantly expanded its manufacturing footprint in India in 2025, increasing iPhone production in the country by about 53 percent compared with the previous year. The move highlights the growing role of India in the global supply chain of the US technology giant as it continues to diversify production beyond China.India Assembles 55 Million iPhones in 2025 Apple assembled approximately 55 million iPhones in India during 2025, up from 36 million units produced in 2024. The surge reflects the company’s strategy to scale up manufacturing capacity in the country while strengthening its export base.Globally, Apple manufactures roughly 220 million to 230...

Rupee Gains in Early Trade After Monday’s Sharp Fall The Indian rupee rebounded from its record low in early trading on Tuesday, strengthening by 7 paise to 92.14 against the US dollar. The recovery came after global crude oil prices declined following comments from US President Donald Trump suggesting that the ongoing conflict with Iran could end soon.A weaker US dollar and a strong opening in the domestic equity markets also supported the local currency. However, persistent foreign fund outflows limited the rupee’s gains, according to forex traders.At the interbank foreign exchange market, the rupee opened at 91.92 before settling at 92.14, marking a modest recovery from its previous close.Rupee Had Hit Record Low in Previous...

Sensex, Nifty Rebound Sharply in Early Trade as Crude Oil Prices Fall and Global Markets Recover Mumbai, March 10: Benchmark equity indices Sensex and Nifty rebounded strongly in early trading on Tuesday after two consecutive sessions of steep declines. The recovery comes as crude oil prices dropped sharply and global markets showed signs of improvement amid hopes that the conflict in West Asia could ease soon.Sensex Surges Over 800 Points, Nifty Climbs Above 24,280 The 30 share BSE Sensex jumped 809.57 points in opening trade to reach 78,375.73. Meanwhile, the 50 share NSE Nifty advanced 252.75 points to 24,280.80.The rally followed a significant fall in crude oil prices, which helped improve investor sentiment.Brent Crude Falls...

Indian Stock Market Rises in Early Trade as Global Sentiment Improves Benchmarks Gain in Morning Session Indian equity markets opened higher on Tuesday, March 10, as improving global sentiment supported early trading activity. Optimism in global markets followed indications from US President Donald Trump that the ongoing conflict with Iran could be nearing an end.As of 9:29 am, the BSE Sensex was up 413 points, or 0.53 percent, at 77,979, while the NSE Nifty 50 gained 112 points, or 0.47 percent, to trade at 24,140.Midcap and Smallcap Stocks Outperform Broader markets outperformed the benchmark indices during the session.The Nifty Midcap 100 advanced 1.05 percent, while the Nifty Smallcap 100 climbed 1.32 percent, indicating...

Government Forms Panel to Review LPG Supply Crunch as Hotels and Restaurants Face Shortage Commercial LPG Shortage Raises Alarm in Hospitality Sector New Delhi, March 10: The Ministry of Oil has constituted a committee to examine supply issues after a sudden shortage of commercial LPG cylinders raised concerns across the hospitality industry. Restaurant associations warn that eateries could face shutdowns within days if supplies are not restored.The shortage has emerged as the ongoing conflict in the Middle East disrupts fuel supply chains, including liquefied petroleum gas (LPG) shipments to India. In response, the government has prioritized LPG supplies for household cooking, creating a supply crunch for hotels, restaurants, and...

South Korea’s Per Capita Income Rises Slightly in 2025 as Weak Won Limits Dollar Gains Per Capita GNI Stays in the $36,000 Range South Korea’s per capita income recorded only marginal growth in 2025, as the depreciation of the Korean won against the US dollar offset stronger gains in local currency terms.Preliminary data released by the Bank of Korea on Tuesday shows that the country’s nominal per capita gross national income (GNI) reached $36,855 in 2025, marking a 0.3 percent increase from the previous year. Despite the rise, the figure remained within the $36,000 range for the third consecutive year.Stronger Growth in Local Currency Terms When measured in Korean won, income growth was significantly stronger. Per capita GNI rose...

Exports Support Annual Growth but Economy Shrinks in Final Quarter South Korea’s economy expanded by 1 percent in 2025, supported largely by strong export performance, although the country recorded negative growth in the final quarter of the year, according to data released by the Bank of Korea on Tuesday.Real gross domestic product (GDP), a key indicator of economic activity, contracted by 0.2 percent in the October to December quarter compared with the previous quarter. The revised figure was slightly better than the earlier estimate of a 0.3 percent contraction released by the central bank.The fourth quarter decline marked the first quarterly contraction since the January to March period of the previous year, when the economy...

KOSPI Opens Strong Following Sharp Decline South Korean equities rebounded sharply on Tuesday, March 10, with the benchmark Korea Composite Stock Price Index (KOSPI) surging at the opening bell after suffering a steep fall in the previous trading session.The KOSPI jumped 271.34 points, or 5.17 percent, to 5,523.21 at market open. The strong recovery came a day after the index had plunged 5.96 percent, reflecting renewed investor buying interest after the earlier selloff.Global Cues Support Market Recovery Overnight gains on Wall Street also supported market sentiment. The Dow Jones Industrial Average rose 0.5 percent, the Nasdaq Composite advanced 1.38 percent, and the S&P 500 gained 0.83 percent.Investor sentiment improved after...

Crude Oil Prices Drop Nearly 6% As Hopes of Middle East De-escalation Emerge Crude oil prices declined sharply on Tuesday, retreating from the previous session’s highs as markets reacted to growing expectations of easing tensions in the Middle East.Brent crude futures fell by $6.51, or 6.6 percent, to $92.45 per barrel. US West Texas Intermediate (WTI) crude also declined by $6.12, or 6.5 percent, to $88.65 per barrel.The decline comes after both benchmarks had surged past $100 per barrel on Monday amid heightened geopolitical concerns.Markets React to Signals From the United States Oil prices moved lower after US President Donald Trump indicated that the ongoing military campaign against Iran could conclude soon. He described...

Novo Nordisk Drops Lawsuit Against Hims & Hers After Agreement to Sell Wegovy and Ozempic Through Platform Novo Nordisk has dropped its lawsuit against telehealth company Hims & Hers after both firms reached an agreement that will allow the pharmaceutical company’s branded weight loss medications to be sold through the Hims platform.The development marks a shift in the dispute between the companies that began earlier when Hims announced plans to introduce a lower priced alternative to Novo Nordisk’s widely used weight loss treatment.Dispute Began Over Planned Off Brand Wegovy Launch Early last month, Hims & Hers revealed plans to launch a cheaper off brand version of the weight loss drug Wegovy. The announcement came only weeks...

Donald Trump Purchased Over $1.1 Million in Netflix Bonds Amid Media Industry Bidding War Government Disclosures Show Multiple Bond Purchases Government ethics disclosures reveal that US President Donald Trump purchased more than $1.1 million worth of Netflix bonds over the past three months. The filings indicate the transactions occurred during a period when Netflix was engaged in a high profile attempt to acquire Warner Bros. Discovery, competing against Paramount and Skydance.According to the disclosure documents, Trump carried out two purchases on December 12 and December 16 totaling more than $500,000. He later added to the position with two more trades on January 2 and January 20, purchasing more than $600,000 in additional...

Benchmark Indices Slide Sharply in Early Trade Mumbai, Monday, March 9: Indian equity markets witnessed a sharp sell-off on Monday as soaring crude oil prices and weak global market sentiment weighed heavily on investor confidence. Both benchmark indices opened lower and continued to decline during early trading.The BSE Sensex plunged 2,345.89 points or 2.97% to 76,573.01, while the NSE Nifty dropped 708.75 points or 2.89% to 23,741.70.Broad-Based Selling Across Sensex Stocks Selling pressure was visible across the board, with all 30 companies listed on the Sensex trading in negative territory.InterGlobe Aviation emerged as the biggest loser, falling nearly 8%, while other major laggards included Tata Steel, Maruti, State Bank of...

Indian Rupee Hits Record Low of 92.31 Against US Dollar as Oil Surge and Global Risk-Off Mood Weigh The Indian rupee fell to a fresh all-time low of 92.31 against the US dollar on Monday after opening sharply weaker, as a sharp rise in crude oil prices and a global shift toward risk aversion pressured emerging market currencies.The currency opened at 92.20 per dollar, weaker than its previous close of 91.74. It slipped further in early trade, breaching the earlier record low of 92.3025 that had been touched last week.The fall of more than 50 paise from Friday’s close marks one of the steepest single-session declines for the rupee in recent months, highlighting the mounting pressure on the domestic currency.RBI Intervention...

Oil Prices Surge Past $100 as Iran Conflict Disrupts Strait of Hormuz Energy Flows Global Oil Markets React to Escalating Middle East Conflict Oil prices surge past $100 per barrel as the conflict involving Iran disrupts energy flows through the Strait of Hormuz, sending shockwaves across global energy and financial markets.US President Donald Trump defends the sharp rise in oil prices, describing it as a temporary cost linked to confronting Iran’s nuclear threat.“Short-term oil prices, which will drop rapidly when the threat of Iran's nuclear program is over, is a very small price to pay for the safety and peace of the U.S. and the world,” Trump writes on Truth Social.He adds, “ONLY FOOLS WOULD THINK DIFFERENTLY!”Crude Oil...

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...