Business

New Delhi, April 3: Sentiment towards India's IT services sector has turned more negative amid rising global uncertainties, although investors remain hesitant to make strong directional bets, a report said on Friday.BNP Paribas India said in its report that while uncertainty has increased, investors – particularly hedge funds – are avoiding clear market calls and are instead reducing exposure by trimming positions based on specific factors.The report noted that recent volatility, including rapid reversals in US trade tariff policies, has made investors cautious about taking aggressive positions.However, sentiment towards India has weakened, with concerns emerging over potential earnings pressure due to limited availability of...

New Delhi, April 3 India's exports have maintained a strong pace despite global challenges, and are expected to show positive growth in 2025-26, a senior official from the Ministry of Commerce said on Friday.Data on exports and imports for the month of March and the full 2025-26 fiscal year will be released by the Ministry of Commerce on April 15."Even at the end of March 31, despite the ongoing war, we will be concluding the year with positive growth. Despite US tariffs, numerous disruptions throughout the year, the ongoing war in Ukraine, and the start of the war in Iran, merchandise exports have maintained their momentum," the official said.The country's merchandise exports declined marginally by 0.81 per cent year-on-year to...

New Delhi, April 3 – India's largest automobile company, Maruti Suzuki, announced on Friday that it added 502 new service touchpoints in the financial year ending March 2026, marking the highest single-year network expansion in the automaker's history. This brought the company's total after-sales service footprint to 5,926 touchpoints spread across 3,000 cities and towns nationwide.The newly added locations include ARENA and NEXA workshops, Maruti Suzuki Sales and Service Points (MSSPs), and Service-on-Wheels, reflecting the company's efforts to serve customers in major cities, small towns, and even remote areas."Whether customers want to visit a workshop, opt for doorstep service, get their vehicle serviced at a convenient...

Hyderabad, April 3 Telangana Chief Minister A Revanth Reddy announced his ambitious goal to transform the state into the 'textile capital of South Asia' by 2047, on Friday.Speaking at the Asian Textiles Conference 2026 (ATEXCON) here, he said the government provides the best infrastructure, land, power, water, and incentives, along with "the fastest execution," to the industry.Pointing out that the state government's 'Telangana Rising 2047' vision aims to propel the state towards a $3 trillion economy by the country's centenary of independence, he said the initiative is significant for the textile industry."By 2047, we will transform Telangana into the textile capital of South Asia," Reddy said.The state government has policies...

New Delhi, April 3 – The Indian auto companies are facing significant cost pressures, but the market is systematically underestimating them, according to a report released on Friday. This is happening even as investor sentiment towards India has become distinctly more cautious.A BNP Paribas analysis found that investors are reluctant to take a clear position on the market. Hedge funds are largely removing specific exposures from their portfolios, with several actively reducing their overall exposure.The rapid reversal of US tariffs last year has led investors to believe that the current energy crisis may be short-lived.The overall outlook on India has become more negative. A key concern is the availability of LNG (liquefied...

New Delhi, April 3 A tanker sanctioned by the US, carrying Iranian crude oil, has rerouted mid-voyage from its previously indicated destination of India – where it would have marked the first such shipment in nearly seven years – to China.The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler.There is no confirmation that the destination indicated by the ship's Automatic Identification System (AIS) transponder – a tracking system mandated on most commercial vessels – is the final one, and it may change at any time during the transit."An Iranian...

New Delhi, April 3 Maruti Suzuki India Ltd aims to expand its service network to approximately 8,000 touchpoints by fiscal year 2030-31, its Managing Director & CEO, Hisashi Takeuchi, said on Friday.The company added 502 new service touchpoints in fiscal year 2025-26, Maruti Suzuki India Ltd (MSIL) said in a statement."As our customers are spread across the nation and their needs continue to evolve, we are continuously innovating and expanding our service touchpoints... Currently, we have 5,926 touchpoints, and we aim to expand this network to around 8,000 touchpoints by fiscal year 2030-31," Takeuchi said.Noting that for a car owner, nothing provides more comfort than knowing that they can easily find a service touchpoint and...

Islamabad, April 3 Pakistan has announced an unprecedented increase of 43 percent and 55 percent in the prices of petrol and high-speed diesel (HSD), respectively, in response to soaring global oil prices amid the US-Israel war on Iran.The government made the announcement on Thursday. The price of petrol has been increased by Rs 137.23 per litre (42.7 percent) to Rs 458.41 from Rs 321.17, while HSD by Rs 184.49 per litre (55 percent) to Rs 520.35 from Rs 335.86, with immediate effect.The price of kerosene was also increased by Rs 34.08 per litre to Rs 457.80.The government also adjusted the petroleum levy rates to limit the increase in diesel prices as the levy on petrol was increased to Rs 160 per litre from Rs 105, while it was...

New Delhi, April 3 The government held discussions on Friday about measures to encourage companies to increase production of induction heaters and cookware amid rising demand for these products due to the West Asia crisis, an official said.The crisis has disrupted the movement of ships carrying oil and gas through the Strait of Hormuz, raising concerns over cooking gas supplies and prompting people to rush to buy induction heaters and cookware.The meeting, chaired by Commerce and Industry Minister Piyush Goyal, was attended by senior officials, including the Power Secretary, DGFT and DPIIT Secretary."We discussed how we can speed up and increase the production of induction heaters and cookware," the official said.The demand for...

New Delhi, April 3 KEP Engineering Services on Friday said its integrated wastewater solutions help industries recover 90-95 per cent of wastewater, reducing dependence on fresh water and enhancing operational efficiency.The Hyderabad-based firm said that the solution, comprising effluent treatment plants, zero liquid discharge systems, multi-effect evaporators, and condensate integrated gas recovery, allows industrial clusters to treat and recycle virtually all process and utility water.These systems are designed to reclaim treated water for reuse in cooling towers, utilities, and other non-potable applications, thereby sharply reducing the amount of fresh groundwater or surface water drawn by large-scale units, the company said...

New Delhi, April 3 Vedanta group firm HZL has reported an increase in the production of mined metal and refined metal, but a slight decrease in silver production in the fourth quarter of FY26.The company's mined metal production increased by two per cent to 3,15,000 tonnes and its refined metal output rose by five per cent to 2,82,000 tonnes in the January-March quarter of FY26.Mined metal production refers to extracting raw ore from the earth and producing a concentrate that contains impurities. Refined metal production is the subsequent purification process, enhancing the grade to over 99 per cent purity for industrial use.In a statement, Hindustan Zinc Ltd (HZL) has said that its silver production dropped marginally by 0.2 per...

Seoul, April 3 – South Korea's foreign reserves saw their sharpest monthly decline in about a year in March, amid a stronger dollar and authorities' efforts to manage exchange rate volatility, the central bank said on Friday.The country's foreign reserves stood at US$423.66 billion as of the end of March, down US$3.97 billion from a month earlier, according to data from the Bank of Korea (BOK).This was the sharpest decline since April 2025, when the amount fell by US$4.99 billion on a month-on-month basis, reports Yonhap news agency. Daily market newsThe reserves had fallen in December for the first time since June, and continued to decline through January before rising in February."The U.S. dollar strengthened in March...

New Delhi, April 3 – The government announced on Friday that India's fisheries sector has become a significant contributor to food security, employment, and export earnings, thanks to a record investment of ₹39,272 crore since 2015.According to the Ministry of Fisheries, Animal Husbandry and Dairying, the sector supports nearly 30 million fishers and fish farmers at the primary level, and almost twice as many across the entire value chain.India is now the second-largest aquaculture producer globally, accounting for approximately 8 per cent of world fish output, it said.Moreover, domestic fish production has increased from 141.64 lakh tonnes in 2019-20 to 197.75 lakh tonnes in 2024-25, representing an average annual growth of...

New Delhi, April 3 – Economists on Friday said they do not expect any changes in the repo rate or policy stance this time, given the geopolitical tensions, as the Reserve Bank of India (RBI) prepares for its monetary policy committee (MPC) meeting next week.According to them, the tone will be cautious, and the eagerly awaited aspect will be the RBI's forecast for GDP and inflation under the prevailing uncertainty."We do not anticipate any measures for either liquidity or currency management, as the RBI will take action as required, as we have seen recently," said Madan Sabnavis, Chief Economist, Bank of Baroda (BoB).The three-day policy meeting is scheduled from April 6 to April 8 – the first since the ongoing energy shock...

New Delhi, April 3 The Reserve Bank of India (RBI) has granted approval to Dubai-based Emirates NBD Bank to acquire up to 74% stake in RBL Bank, paving the way for the bank to become a foreign lender.The approval from the RBI came on April 1, with a validity of one year, RBL Bank said in a regulatory filing on Thursday.The approval follows Emirates NBD Bank, the second largest in the UAE, expressing its interest in October 2025 to acquire a majority 60% stake in RBL Bank for Rs 26,853 crore.According to the approval letter, Emirates NBD (ENBD) would acquire and maintain a shareholding of at least 51% of the paid-up share capital of RBL Bank, and the bank would be classified as a foreign bank in a subsidiary mode, with the Investor...

New Delhi, April 3: Global crude oil prices rose on Friday after US President Donald Trump warned of possible military strikes on Iran within two to three weeks, raising fresh concerns about supply disruptions from the West Asia region.Brent crude futures traded at $109.24 per barrel, up 8%, while US West Texas Intermediate (WTI) futures were at $111.54 per barrel by 3:39 am (local time).Until Friday, US WTI futures jumped 11.94% from the previous Friday's close during the week, while Brent crude declined 3.14% over the same period.The ongoing conflict in West Asia, now entering its fifth week, has removed millions of barrels per day from the global market, driving energy prices to multi-year highs and causing fuel shortages in...

Colombo/Washington, April 3 Sri Lanka and the World Bank Group have launched a new five-year partnership aimed at supporting the island nation's economic recovery and boosting private investment, according to a joint announcement.A new five-year Country Partnership Framework (CPF) has been launched to support "Sri Lanka's continued recovery, help achieve its 7 per cent medium-term economic growth target, and support job creation," according to a World Bank statement in Washington on Thursday."Making it easier to do business. Simplifying government regulations, modernising trade processes, and bringing more government services online will make Sri Lanka a more attractive place to do business and invest. These reforms will support Sri...

New Delhi, April 3 – The government has suspended its earlier directive to airlines to offer at least 60 per cent of seats on any flight free of charge, which was set to come into effect from April 20.The Civil Aviation Ministry, in a communication to the Directorate General of Civil Aviation (DGCA), said the matter had been reviewed following representations from the Federation of Indian Airlines and Akasa Air, which flagged the operational and commercial implications of the provision, including its potential impact on fare structures and consistency with the prevailing deregulated tariff regime.The government noted that, in view of the above, and pending a comprehensive examination of the issue, it has been decided that the...

Seoul, April 3 – The government will take stern measures, including legal action, against malicious activities aimed at exploiting recent market volatility through the spread of fake news and rumors, a senior finance ministry official said on Friday."Spreading unfounded fake news during an extraordinary crisis is a serious matter that can fuel market anxiety and undermine trust in policy," said Moon Ji-sung, deputy minister for international economic affairs, while presiding over a meeting of the task force on illegal foreign exchange transactions.The official also urged relevant agencies to take strict action, calling for immediate reporting to the task force and filing complaints with the police, according to reports from Yonhap...

Lucknow, April 3 Industrialist Gautam Adani met Uttar Pradesh Chief Minister Yogi Adityanath in Lucknow and expressed support for the state's ambitious economic growth targets, officials said on Friday.Following the meeting on Thursday, Adani posted on X, praising the chief minister's vision for transforming Uttar Pradesh into a major economic powerhouse.The Adani Group chairman highlighted the roadmap presented by Adityanath, which aims to make Uttar Pradesh a USD 1 trillion economy by 2030 and expand it further to USD 6 trillion by 2047."Some visions reshape nations. Hearing Chief Minister Yogi Adityanath lay out the roadmap for Viksit Uttar Pradesh was an unforgettable moment. A USD 1 trillion economy by 2030. USD 6 trillion by...