Business

India Maintains Petroleum and LPG Supply Amid Global Concerns New Delhi, March 27 – India’s supply of petroleum and LPG remains under control, with no shortages reported across the country, according to the government. Retail outlets are operating with sufficient stock and dispensing fuel without interruption.Structural Availability and Global Position As the world’s fourth largest refiner and fifth largest exporter of petroleum products, India’s domestic availability is structurally assured, according to the Ministry of Petroleum. Despite global concerns, including the declaration of “National Energy Emergencies” in other nations and the implementation of rationing measures, India does not require such interventions.Addressing...

Government Slashes Excise Duties on Petrol, Diesel Fuel Price Relief: Excise Duty Cut Announced New Delhi – The government announced a reduction in excise duties on petrol and diesel on Friday, aiming to alleviate the impact of rising global oil prices. The excise duty on petrol has been lowered by ₹10 per litre, bringing the price down to ₹3 per litre. Diesel excise duty has been reduced to zero.Duty Exemptions The government has also implemented exemptions on duties for fuel exports and supplies to foreign-going aircraft. Separately, a 2022 notification has been revoked, granting customs duty relief on imported aviation turbine fuel (ATF).Financial Impact and Global Market Trends Oil marketing companies (OMCs) are currently...

South Korean Stocks Plummet Amid Middle East Tensions Seoul, March 27 – South Korean stocks experienced a sharp decline on Friday, driven by increased risk aversion stemming from renewed concerns regarding tensions in the Middle East. The benchmark Korea Composite Stock Price Index (KOSPI) fell 204 points, or 3.74 percent, to close at 5,256.46 in the first 20 minutes of trading, according to Yonhap news agency.The KOSPI opened 2.93 percent lower, influenced by overnight declines on U.S. markets. U.S. President Donald Trump issued mixed signals about U.S. negotiations with Iran, warning Iranian negotiators to “get serious soon” while later stating that the U.S. and Iran were having “very substantial talks.” The White House also...

Government Reduces Excise Duty on Petrol, Exempts Diesel Amid Global Oil Price Surge Excise Duty Changes New Delhi, March 27 – The government has implemented excise duty reductions on petrol and completely exempted diesel, aiming to provide support to oil marketing companies including HPCL, BPCL, and IOC. The measures come amid rising global crude prices following the Middle East conflict.A notification from the Finance Ministry, dated March 26, details the changes. The excise duty on petrol has been lowered to ₹3 per litre, a decrease from the previous rate of ₹13 per litre. Simultaneously, the excise duty on diesel has been reduced to zero, a reversal from the previous levy of ₹10 per litre. These changes are effective immediately...

Fuel Prices Today: Petrol Hike by Rs 5 Reported by Private Retailer Petrol and Diesel Prices Remain Stable, But Private Retailer Raises Prices New Delhi – Petrol and diesel prices in India remained largely unchanged on Friday, continuing a period of stability maintained by state-run oil companies. However, a notable development saw private fuel retailer Nayara Energy increase petrol prices by approximately Rs 5 per litre and diesel prices by around Rs 3 per litre, citing elevated crude oil prices linked to the ongoing conflict in the West Asia. This move contrasts with the stance of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), which have held prices steady...

New Delhi – India faces a significant challenge in balancing economic growth with energy affordability, requiring a coordinated approach to policy and operational efficiency. Addressing inefficiencies within the coal supply chain is a critical first step, alongside broader reforms aimed at optimal energy use.Policy Cohesion is Key The Ministry of New and Renewable Energy (MNRE) has recently advocated for a greater role in electricity sector policy formulation, aligning with its remit. However, deeper consultation with the Ministry of Power (MoP), the sector’s anchor ministry, is essential. Solar projects, for example, have experienced difficulties despatching electricity due to inadequate evacuation facilities, a responsibility...

Musk Slams Twitter Verdict, Calls Jury’s $4.20 ‘Joke’ a Mockery A jury found Elon Musk liable for misleading investors in 2022 when he tweeted concerns about fake accounts on Twitter—now known as X—and subsequently attempted to withdraw his $44 billion offer to acquire the company.Elon Musk’s legal team argues the billionaire did not receive a fair trial, citing a “bizarre and highly questionable” joke incorporated into the jury’s verdict form. Attorney Alex Spiro penned a letter to the presiding judge, highlighting the jury’s calculation of the impact of Musk’s tweets on Twitter stock and the emphasis placed on the number $4.20, which is culturally associated with marijuana use.The jury’s verdict, delivered Friday, determined that...

Chandigarh, March 26 – The Haryana State Vigilance and Anti-Corruption Bureau has arrested two individuals in connection with alleged discrepancies in the fixed deposit receipts of Panchkula Municipal Corporation, amounting to nearly Rs 150 crore, held at a Kotak Mahindra Bank branch.According to an official statement, Dileep Kumar Raghav, who was a relationship manager at the bank at the time of the offense, was the first to be arrested on Wednesday. Another individual, identified as Rajat Dahra, was arrested late Thursday night."The case pertains to significant discrepancies found in the FDRs and bank accounts of Panchkula Municipal Corporation maintained at Kotak Mahindra Bank, Sector-11, Panchkula," the statement said...

New Delhi, March 26 Apple announced new members of its American Manufacturing Program (AMP) on Thursday, further expanding the company's long-standing commitment to bringing even more advanced manufacturing and critical component production to the United States.Apple is collaborating with Bosch, Cirrus Logic, TDK, and Qnity Electronics to manufacture essential materials and components in the U.S. for Apple products sold worldwide, creating jobs and strengthening America's manufacturing capabilities. Apple plans to invest $400 million in these new programs through 2030."At Apple, we believe in the power of American innovation and manufacturing, and we're proud to partner with even more companies to produce critical components and...

Lucknow, March 26 The Uttar Pradesh Real Estate Regulatory Authority has notified the 10th amendment to its General Regulations, 2019, introducing key provisions focused on consumers, including relief for buyers in unregistered projects and a cap on transfer-related charges, officials said on Thursday.The amendments, issued under Section 85 of the Real Estate (Regulation and Development) Act, 2016, came into effect on March 25, 2026, and aim to enhance transparency, accountability, and consumer protection in the real estate sector.As part of the changes, UP RERA has amended Regulations 24 and 47.Under the revised Regulation 24, the authority has clarified a long-standing ambiguity regarding whether allottees in unregistered...

New Delhi, March 26 Children's exposure to social media is a major concern, and there is a need to find a balance between freedom of speech, innovation, and regulation, Union Minister Ashwini Vaishnaw said on Thursday.Citing a recent judgment by a US court holding social media firms responsible for addiction, the minister said that every society is struggling with issues related to children's exposure to online platforms."It is a very significant concern. Parents across the country and around the world have been feeling this pressure. Yesterday, there was a major judgment in the US where the social media platforms have been told that their addictive algorithms are really harming children's growth and their mental well-being. It is a...

Washington, March 26 The US said on Thursday that it intends to work with Congress to allocate USD 250 million in foreign assistance funding for the Pax Silica initiative, aimed at securing the global supply chain for silicon-based technologies.India formally joined Pax Silica in February, marking a significant step in technology cooperation between New Delhi and Washington.“We are working with Congress to allocate USD 250 million for a new Pax Silica Fund initiative to strengthen secure, reliable semiconductor supply chains. The United States remains the preferred partner for Pax Silica signatories committed to securing strategic layers of the global technology supply chain,” US Undersecretary of State Jacob S Helberg said in a...

New Delhi, March 26 A Beechcraft C90A aircraft, belonging to Redbird Airways Pvt Ltd, crashed in Jharkhand on February 23 after being airborne for 17 minutes, according to a preliminary report by the AAIB, the investigating agency. The aircraft's emergency location transmitter did not activate.In the fatal crash that killed seven people on board, the aircraft, VT-AJV, was destroyed, and the wreckage was found scattered in a forested area near Simaria in the Chatra district of Jharkhand.The air ambulance flight from Ranchi to Delhi carried 2 pilots, 2 medical personnel, 1 patient, and 2 attendants.The Aircraft Accident Investigation Bureau (AAIB) said the aircraft took off from Ranchi airport at 7:07 pm and 7:24 pm on February 23...

Mumbai, January 26 The country's premier container port, Jawaharlal Nehru Port, announced on Thursday that its overall cargo traffic reached a record 100 million metric tons in the current financial year, in addition to container traffic exceeding 8 million TEUs (Twenty-foot Equivalent Units) in FY26.In another development, the facility announced the commencement of the JJS service by Global Feeder Shipping at PSA Mumbai, one of the container terminals at JNPA, with the inaugural call of MV SSF Dynamic on March 24."The record performance of crossing the 8 million TEUs benchmark, along with achieving 100 MMT overall throughput, reflects the resilience, efficiency, and dedication of all stakeholders, including terminal operators, and...

New Delhi, March 26 India on Thursday called upon WTO members to work towards making the WTO's dispute settlement system fully functional, as the current dysfunctional mechanism has deprived countries of receiving effective redressal.On the first day of the World Trade Organisation's (WTO) 14th ministerial conference (MC14) in Yaounde, Cameroon, Commerce and Industry Minister Piyush Goyal said that there is a need for a careful reconsideration of the further extension of the moratorium on customs duties on e-commerce trade."A dysfunctional Dispute Settlement System has deprived Members from effective redressal. We must restore the automatic and binding dispute settlement system," he said.Since 2009, the WTO's dispute settlement...

New Delhi, March 26 Leading cement maker UltraTech Cement on Thursday said it has settled with Jaiprakash Associates Ltd (JAL) in the arbitration dispute over the Dalla Super unit and associated mines.In a regulatory filing, UltraTech Cement said 1,00,000 Series A Redeemable Preference Shares (Series A RPS) with a face value of Rs 1,00,000 each, totaling Rs 1,000 crore, which were placed in an escrow account for the Dalla Super unit and mines located in Uttar Pradesh, have been released.This settlement will also help monetize JAL's assets in its ongoing Corporate Insolvency Resolution Process (CIRP), in which the rival Adani Group has emerged as the successful resolution applicant (bidder).Adani Group, which is also the...

Mumbai, March 26 There is no shortage of cooking gas and other fuels in Maharashtra, but rumors and statements from opposition leaders are causing panic, state minister Girish Mahajan said on Thursday, urging people not to engage in panic buying.There has been a sudden increase in demand for fuels over the past five days, leading to an "artificial shortage," he said, adding that petrol pump operators have adequate supplies, but the surge in demand has created a perception of scarcity."There is no shortage in the state. People are worried about a possible shortage, but the Union government has assured a continued supply of cooking gas," Mahajan told reporters.The fear among the people, coupled with statements from opposition...

Mumbai, March 26 The industry grouping, CII, said that Blue Star's Chairman and Managing Director, Vir Advani, has been appointed as its Chairman for the Western region.Milon Nag, the Chairman and Managing Director of KK Nag Private Ltd, will serve as the Deputy Chairman for 2026-27, according to a statement.IndusInd Bank launches capital gains account schemePrivate sector lender IndusInd Bank launched a capital gains account scheme on Thursday.The scheme will provide customers with the facility to park long-term capital gains until reinvestment and avail tax exemptions in accordance with the provisions of the Income-tax Act, 1961.Axis Bank to support planting of 30 lakh native tree saplings pan IndiaAxis Bank announced on...

Mumbai, March 26 Navi Mumbai International Airport (NMIA) on Thursday said that flight operations at its facility are expected to increase to 1,092 flights per week, with an average of 156 air traffic movements (ATMs) per day, as part of the airlines' summer schedule this year.The facility is projected to increase daily departures from 22 at launch to 78 by April 2026, as it ramps up capacity under the summer schedule, NMIA said.The second international airport in the Mumbai Metropolitan Region started commercial operations on December 25 last year.The schedule adds 30 new domestic routes, linking the airport to a mix of commercial, tourism, and religious centres across India, the private airport operator said.The facility will...

Panaji, March 26 The Goa government on Thursday asserted that there is sufficient stock of petrol and diesel in the state, even as long queues were seen at several fuel stations.Due to miscommunication and rumors on social media about a short supply of petrol and diesel at retail outlets, there is widespread panic. Vehicle owners have started rushing to the stations, the state civil supplies department said in a statement."This crowding and long queue situation creates chaos at the station, thereby creating a law and order situation. The general public are hereby informed that there is sufficient stock of petrol and diesel at oil terminals for supply. Consumers need not panic. There is no disruption in the supply of petrol and...