Business

New Delhi, April 5 – The European Union, through its Generalized Scheme of Preferences Plus (GSP+), granted Pakistan duty-free access to its lucrative markets in January 2014 in exchange for its commitment to uphold international human rights, labor, environmental, and governance standards.However, Pakistan’s garment factories are brazenly violating this promise by exploiting workers’ rights and preventing the formation of labor unions, which prevents them from even raising these issues with the owners, according to a report in Greece’s digital news portal, NewsBomb.The GSP+ arrangement has seen Pakistan’s export economy flourish, with over 7 billion euros of the country’s 8.3 billion euros in EU imports being tariff-free in 2024...

New Delhi, April 5 Gold and silver are expected to remain within a range with a positive bias next week as investors monitor geopolitical developments in West Asia and key global macroeconomic data, analysts said.On the domestic front, investors will also be looking for the Reserve Bank of India's monetary policy mid-week, they added."Looking ahead to the week, the focus remains on developments in the Gulf region – any signs of further escalation or de-escalation could influence prices," said Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.Investors will also monitor a series of global economic indicators for further direction."In terms of data, investors will be looking at PMI numbers...

New Delhi, April 5 – Banks are likely to see improved profitability year-on-year (YoY) in the March quarter of FY26, driven by sustained growth in lending, higher fee income, and lower credit costs, according to a report released on Sunday.Data compiled by Systematix Institutional Equities noted that banks are expected to deliver better earnings performance in the fourth quarter, despite persistent margin pressures.The improvement in profitability is primarily being driven by steady expansion in loan books, an increase in fee-based income, and a moderation in credit costs as asset quality stabilizes.According to Systematix, the strong momentum in lending seen towards the end of the December quarter has continued into Q4 FY26.The...

New Delhi, April 5 Sales of small 5-kg LPG cylinders – available at LPG distribution centers upon showing valid ID proof – have been increased, with about 6.6 lakh cylinders sold since March 23 as the government ramps up supplies to meet demand.Unlike the subsidized 14.2-kg domestic cylinders, the 5 kg bottles, known as FTL cylinders, are priced at market rates and do not require any address proof for purchase from a nearby LPG distribution center."Yesterday (April 4), more than 90,000 5 Kg FTL cylinders were sold. Since March 23, 2026, about 6.6 lakh 5 Kg FTL cylinders have been sold," the oil ministry said in a statement.The ministry stated that there are no reports of shortages at LPG distribution points, with more than 51 lakh...

Thane, April 5 Ambassador of Nepal to India, Dr. Shankar Prasad Sharma, emphasized the need to further strengthen trade, investment, and economic ties between the two neighboring countries on Sunday.Speaking at the Indo-Nepal Trade Programme and Trade Promotion Initiative organized in Thane, Sharma said that the business communities of both nations must explore new avenues of collaboration and partnership to enhance mutual growth.The event brought together key dignitaries, business leaders, and industry stakeholders from both countries with the aim of providing a common platform for meaningful networking and partnership discussions, the organizers said.Nepal is important for India in the context of its overall strategic interests...

New Delhi, April 5 Iran's internet blackout, imposed following a joint US-Israel military operation on Tehran, has now entered its fifth week, making it the longest nationwide internet shutdown on record, according to digital monitoring group NetBlocks on Sunday.In a post on social media platform X, NetBlocks reported that the shutdown has continued for 37 consecutive days, exceeding 864 hours, surpassing all previous comparable incidents in terms of duration and scale."Iran's internet blackout is now the longest nation-scale internet shutdown on record in any country, exceeding all other comparable incidents in severity having entered its 37th consecutive day after 864 hours," it said.The blackout, which began on February 28, has...

New Delhi, April 5: India's pharmaceutical exports reached over $28 billion by February of the current financial year, registering a growth of more than 5 per cent compared to the same period last year, a senior government official has said.Speaking at the inaugural session of ‘Chintan Shivir: Scaling Up Pharma Exports’, the official highlighted that the growth was driven by formulations, biologicals, vaccines, and Ayush products.“Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum,” he said, noting that exports from April to February of FY26 stood at $28.29 billion – reflecting a 5.6 per cent increase over FY25.Rajesh Agrawal, Secretary in the Department of Commerce, added...

New Delhi, April 5 The average prices of housing in India's top seven markets saw a muted 2% growth in the January-March quarter, compared to the previous quarter, according to Anarock. This growth was slower than expected, due to negative consumer sentiment caused by the West Asia conflict.Anarock data showed that the average housing prices across the seven major cities rose to Rs 9,456 per square foot in January-March, from Rs 9,260 per square foot in the preceding quarter.On an annual basis, the prices rose 7% from Rs 8,868 per square foot in January-March 2025.Anarock tracks the primary housing markets of seven cities – Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata.Anarock...

New Delhi, April 5 – With the ongoing conflict in the Middle East showing no signs of abating, Gulf nations are intensifying their efforts to reduce their dependence on the Strait of Hormuz, a vital transit chokepoint through which nearly 20 million barrels of oil pass daily, according to a report.Rising geopolitical risks and recent attacks on shipping have pushed long-discussed alternatives, including pipelines and overland corridors, closer to implementation.According to a report by the Financial Times, countries such as Saudi Arabia and the United Arab Emirates are already leveraging existing infrastructure to partially bypass the strait.Saudi Arabia's East-West pipeline, also known as Petroline, has emerged as a key asset...

New Delhi, April 5 – An Indian-flagged vessel, the Green Asha, has safely crossed the Strait of Hormuz, marking the ninth Indian tanker to transit the crucial maritime corridor since the onset of the ongoing West Asia conflict.The development comes even as tensions remain high and security concerns continue to disrupt one of the world’s most vital oil and energy supply routes.According to reports, the Green Asha is an LPG carrier, and its successful passage highlights India’s continued reliance on the strait despite mounting risks.The transit follows a series of similar crossings by Indian vessels navigating the conflict-hit region under heightened surveillance.The situation in the Strait of Hormuz has remained volatile since...

New Delhi, April 5 In a move unprecedented since the deregulation of fuel prices, Indian state-owned oil marketing companies will pay refineries a discounted price for petrol, diesel, aviation turbine fuel (ATF), and kerosene, aiming to limit mounting losses resulting from a self-imposed freeze on retail fuel prices, sources said.On March 26, the oil marketing companies (OMCs) set prices for petroleum products at a discount of up to Rs 60 per litre compared to their import costs, according to two sources with direct knowledge of the matter. This discount, effective from March 16, will primarily affect independent refineries such as MRPL, CPCL, and HMEL.International oil prices have risen from around USD 70 per barrel before the...

New Delhi, April 5 The TV industry, which is already facing soaring prices of memory chips (RAM), is bracing for a decline in sales, weighed down by rising costs of plastics for ocean freight due to ongoing geopolitical tensions in West Asia.Some manufacturers are also raising concerns about a potential downtrading trend as buyers shift towards smaller screen sizes amid rising prices. Moreover, the depreciation of the rupee has pushed up overall production costs, leading to higher television retail prices.Larger brands have absorbed some of the cost pressure. Moreover, some companies have not passed on the entire cost increase, trying to maintain their market share in the highly competitive Indian TV market.Moreover, consumers are...

New Delhi, April 5 The rollout of the Digital Personal Data Protection framework will make organizations more accountable and, consequently, raise their compliance standards, according to a top official at 63SATS Cybertech.Neehar Pathare, Managing Director, CEO & CIO of 63SATS Cybertech, stated that under the DPDP regime, cybersecurity will no longer be just a technical function, but a critical pillar of risk management and business resilience."As India enters a new era of digital governance with the rollout of the Digital Personal Data Protection framework, organizations are being held to significantly higher standards of accountability and compliance. In this environment, cybersecurity is no longer just a technical function but a...

Seoul, April 5 – Finance Minister Koo Yun-cheol urged the Gulf Cooperation Council (GCC) countries to strengthen cooperation to help stabilize energy and raw material supply chains amid prolonged tensions in the Middle East, the finance ministry said on Sunday.Koo, who also serves as deputy prime minister, met with ambassadors from the six GCC countries in Seoul on Friday at the residence of the United Arab Emirates (UAE) ambassador to discuss economic cooperation, according to the Ministry of Economy and Finance.The GCC comprises the UAE, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait, reports Yonhap news agency.Koo and GCC ambassadors expressed concern that the escalating conflict in the Middle East has heightened volatility in...

New Delhi, April 5 – The apex business chamber, CII, on Sunday sought further fiscal and monetary policy concessions from the government and the RBI to address the global uncertainty triggered by the West Asia conflict, even as it praised “the series of timely, well-calibrated, and coordinated measures” that have already been taken.CII Director General Chandrajit Banerjee said, “The government and the RBI have responded with speed, clarity, and coordination. The initial measures have helped stabilize sentiment and demonstrate that India’s policy framework is both responsive and resilient in the face of external shocks.”At the same time, CII observed that the situation continues to evolve, with underlying supply-side pressures in...

New Delhi, April 5 The combined market valuation of six of the top-10 most valued companies declined by ₹64,734.46 crore in a shortened week due to the holiday period, with Bharti Airtel experiencing the biggest drop, reflecting the overall weakness in the equity market.Last week, the BSE benchmark Sensex declined by 263.67 points, or 0.35 per cent, and the NSE Nifty fell by 106.5 points, or 0.46 per cent."Markets ended lower for the sixth consecutive week, declining by nearly half a per cent, reflecting heightened volatility driven by a mix of global and domestic uncertainties," said Ajit Mishra, SVP, Research, Religare Broking Ltd."The shortened week began on a weak note as escalating US-Iran tensions and a sharp rise in crude...

New Delhi, April 5 The dairy giant Amul announced on Sunday that its total turnover rose by 11 percent in the last fiscal year, reaching the Rs 1 lakh crore milestone due to increased demand for dairy products.In a statement, the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) said that the Amul brand's total turnover exceeded Rs 1 lakh crore for the fiscal year 2025-26."The total, unduplicated revenue of the Amul brand increased by 11 percent, based on a revenue of Rs 90,000 crore in 2024-25," it added.The turnover of GCMMF, which sells products under the Amul brand, grew by 11.4 percent to Rs 73,450 crore last fiscal, compared to Rs 65,911 crore in the previous fiscal year."This growth is driven by a wide product...

New Delhi, April 5 – Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited, raised concerns about the condition of NH44, a key IT corridor connecting the city to Hosur, on Sunday.In a post on social media platform X, she criticised the National Highways Authority of India (NHAI) for what she described as poor design and maintenance along the stretch.Mazumdar-Shaw highlighted that the medians and barriers along the highway are "terrible," while the shoulders remain unpaved, creating an "eyesore" for commuters.She questioned whether NHAI considers this section as part of its reputed track record of road infrastructure development across the country."While NHAI boasts of its road infrastructure across the country, why is the...

New Delhi, April 5 – India is increasingly emerging as a new stable core in a volatile global environment, even as geopolitical tensions and energy shocks continue to rattle financial markets, according to the latest monthly report by Quant Mutual Fund.The fund, led by Sandeep Tandon, highlighted that recent military actions involving the United States and Israel against Iran triggered a broad-based correction in global equities.Key indices such as the S&P 500, Nifty 50, Nikkei 225, and KOSPI witnessed declines, while bond yields moved higher and commodities turned volatile.The report added that the VIX Index, often referred to as a fear gauge, surged over 75 per cent earlier in the month, reflecting heightened uncertainty among...

New Delhi, April 5 State-owned India Infrastructure Finance Company Ltd (IIFCL) aims to double its investment in Infrastructure Investment Trusts (InvITs) to ₹6,000 crore during the current fiscal year as part of its investment diversification strategy.IIFCL currently has investments of ₹3,000 crore across nine InvITs as of March 31, 2026."We hope to double our investment in InvITs during the current financial year. This should reach ₹6,000 crore by the end of March 2027," IIFCL MD Rohit Rishi told