Business

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...

New Delhi, March 26. Flight operations from the Middle East to India are improving as more flights arrive from the war-affected region.Around 80 flights were expected to arrive from various airports in the UAE on Thursday, as airlines are operating a limited number of non-scheduled flights.Flights continue to operate to India from Saudi Arabia and Oman, while the airspace over Qatar is partially open, with around 8-9 non-scheduled flights expected on Thursday, according to a statement issued by the Ministry of External Affairs.Special flights of Jazeera Airways and Gulf Air are also operating via Dammam (Saudi Arabia) to India. Travel from Iran by Indian citizens is being facilitated via Armenia and Azerbaijan, while for Indian...

Gandhinagar, March 26 Gujarat International Finance Tec-City (GIFT City) announced on Thursday the launch of 'Women in Fintech Accelerator' under the GIFT International Fintech Innovation Hub (GIFT IFIH) to strengthen the participation of women-led startups in India's International Financial Services Centre (IFSC) ecosystem."The initiative is designed as an investment readiness program to help women-led fintech ventures access institutional capital more effectively and scale their operations. It will address key challenges, such as limited access to investor networks, gaps in fundraising preparedness, and structural barriers within traditional funding ecosystems," it said in a release.GIFT IFIH has been actively supporting fintech...

New Delhi, March 26 Tyre manufacturer TVS Srichakra Ltd said on Thursday that it has received a demand notice of ₹29.47 crore, including tax and interest, from the income tax authority under a disallowance provision, with a penalty proposed for under-reporting of income.An order has been issued by the Assessing Officer of the Income Tax Office dated March 26, 2026, regarding disallowance for FY 2017-18 (AY 2018-19), TVS Srichakra Ltd said in a regulatory filing.The total demand raised amounts to ₹29,47,06,740, including tax and interest. Penalty proceedings have been proposed for under-reporting of income, it added.The company said it does not expect any material financial implications, as it believes the demand notice lacks...

Colombo, March 26 Sri Lanka and Russia began talks here on Thursday aimed at purchasing Russian oil to strengthen bilateral energy cooperation, officials said.The talks were led by visiting Russian Deputy Energy Minister Roman Marshavin, the Russian Embassy said.Officials of the state oil entity were hopeful that Sri Lanka would be able to purchase refined petroleum from Russia.Earlier, the Sri Lankan government had said that talks would be held with India on oil purchases in view of the volatile situation in West Asia due to US military action.The talks are to be continued between the Russian deputy energy minister and President Anura Kumara Dissanayake to focus on strengthening collaboration between Sri Lanka and Russia...

New Delhi, March 26 – The Organisation for Economic Cooperation and Development (OECD) on Thursday projected India's GDP growth rate at 7.6 per cent for 2025-26, 6.1 per cent for 2026-27, and 6.4 per cent for 2027-28, with the country remaining the world's fastest-growing major economy.The OECD's interim Economic Outlook report states that the conflict in the Middle East is testing the resilience of the global economy. The disruption in shipments through the Strait of Hormuz and the closure and damage of some energy infrastructure have led to a surge in energy prices and disrupted the global supply of energy and other important commodities, such as fertilizers. This is increasing costs, dampening demand, and adding to inflationary...

Yamuna Expressway Apartment Prices Triple in Five Years, Growth to Moderate New Delhi, March 26 – The average price of apartments along the Yamuna Expressway in the national capital region has tripled over the past five years, driven by infrastructure projects, including the Noida International Airport. Real estate consultant Square Yards reported this on Thursday in its report, “Runway to Realty: How the Noida International Airport is Reshaping the Real Estate Market.”Property values along the corridor have increased significantly between 2020 and 2025, spurred by the new International Airport at Jewar in Uttar Pradesh. Plot values have risen by an average of 1.5 times, with select micro-markets experiencing up to five times growth...

Shipping Congestion Mounts as Strait of Hormuz Remains Closed Singapore, March 26 – Merchant vessels, including oil tankers, are queuing up at ports across Asia as the ongoing conflict in the Gulf region continues to disrupt shipping lanes. A media report on Thursday highlighted increasing congestion and delays at major Asian ports, including Singapore.Strait of Hormuz Crisis Fuels Shipping Disruptions The Strait of Hormuz, a strategically important waterway connecting the Persian Gulf to the Indian Ocean, remains effectively closed, halting the transit of hundreds of vessels daily. Following joint US and Israeli strikes against Iran and Iran’s retaliatory actions, the region has become a focal point of concern for global energy...

Nayara Energy Raises Petrol and Diesel Prices Amid Global Oil Surge New Delhi, March 26 – Nayara Energy, India’s largest private fuel retailer, announced a price hike of ₹5 per litre on petrol and ₹3 per litre on diesel on Thursday, citing the impact of recent global oil price increases stemming from the conflict in the Middle East. The move reflects a growing challenge for private fuel marketers as state-owned companies maintain frozen retail prices. Price Increases and Market Dynamics Following the United States and Israel’s military actions against Iran in February, triggering a strong response from Tehran, international crude oil prices have seen a substantial rise. This has led to a significant increase in input costs for fuel...

UPI Dominates Lending Transactions, Report Finds New Delhi – Unified Payments Interface (UPI) has emerged as the dominant payment method within peer-to-peer lending, accounting for 92 per cent of all transactions on the platform, according to a new report by LenDenClub, an RBI-registered peer-to-peer (P2P) lending platform. This figure significantly surpasses net banking at 3 per cent, IMPS at 3 per cent, and debit cards at 2 per cent. The report analyzed investment activity across more than one lakh lenders.Female Investors Lead in P2P Lending Female lenders demonstrated a significantly higher investment average compared to male lenders. The 2025 P2P Lending Trends Report revealed that female lenders invested an average of Rs 2.5...

NotJustArt and Adani GreenXTalks Launch Fifth Global Ability Photography Challenge Ahmedabad, March 26 – NotJustArt, a Youth4Jobs initiative, has partnered with Adani GreenXTalks to launch the fifth edition of the Global Ability Photography Challenge (GAPC) 2026. This global photography competition is exclusively for persons with disabilities. Expanding Global Reach The fifth edition of the GAPC aims to provide a global platform for photographers with disabilities to showcase their work and perspectives. Over the past four editions, the initiative has grown significantly, reaching over 8 million people and attracting over 50,000 participants from more than 30 countries. Last year, the exhibition of selected works was showcased...

India’s GDP Growth Projected to Slow in Coming Years New Delhi, March 26 – The Organisation for Economic Cooperation and Development (OECD) has revised its economic outlook for India, projecting a GDP growth rate of 7.6 per cent for the current fiscal year and 6.1 per cent for fiscal year 2026-27. The OECD anticipates a further slowdown to 6.4 per cent for fiscal year 2027-28.The OECD’s interim Economic Outlook report highlights the impact of the evolving conflict in the Middle East, stating it carries “human and economic costs” for directly affected countries and will test the global economy’s resilience. Disruptions to energy shipments through the Strait of Hormuz and damage to energy infrastructure have led to a surge in energy...

British Airways Adds Flights to Meet Demand Amid West Asia Crisis New Delhi, March 26 – British Airways will operate additional flights from Delhi and Mumbai for a limited time to address increased travel demand linked to disruptions related to the West Asia crisis.Expanded Route Capacity From April 7 to May 31, the airline will operate a third daily flight from Delhi to London Heathrow. From May 15 to 31, British Airways will also operate a third daily flight from Mumbai to London Heathrow.A press release issued on Thursday stated that these additions are designed to “provide customers with greater choice and flexibility when travelling between India, the UK, and other destinations.”Weekly Flight Increase With this expanded...

India’s Foodgrain Output Surges to Record 357.73 Million Tonnes in 2024-25 New Delhi, March 26 – India’s agricultural sector has achieved a remarkable milestone, recording an unprecedented foodgrain output of 357.73 million metric tonnes (MMT) in the 2024-25 agricultural year. This represents a substantial increase of 25.43 MMT compared to the previous year, driven by sustained productivity gains, improved input management, and strengthened support for farmers, according to an official fact sheet released Thursday.The growth was primarily fueled by increased production of rice, wheat, maize, and coarse cereals, including millets – designated as “Shree Anna.” India currently ranks as the world’s second-largest producer of both rice and...

DAP Sales Surge in Maharashtra Triggering Hoarding Concerns Fertilizer Sales Jump 70% Amidst National Panic Buying Nagpur, Maharashtra – March 26 – Maharashtra Chief Minister Devendra Fadnavis on Thursday cautioned against hoarding following a significant increase in the sales of Diammonium Phosphate (DAP) fertilizer. The rise in DAP sales, nearly 70 percent compared to the same period last year, suggests potential panic buying, he stated.The concerns stem from a broader trend of panic buying observed across the country due to the ongoing conflict in West Asia, impacting the availability of fuels and other essential commodities.Speaking to reporters before attending a Ram Navami celebration at the Poddareshwar Ram Mandir, Chief...

New Delhi, March 26. Six months after Pakistan approved its National Artificial Intelligence Policy, concerns are growing over the slow implementation, with key systems and plans still not in place, a report has said.When Pakistan's federal cabinet approved the National Artificial Intelligence Policy in July last year, it was seen as a major step towards building a digital future.The policy aimed to promote the responsible use of AI, boost innovation, and prepare the country for a global economy driven by technology and data.However, six months later, progress on the ground appears limited, according to Maldives Insight report.While the policy outlined ambitious goals, the systems needed to turn those plans into action are still...

Kohima, March 26 – Chief Minister Neiphiu Rio of Nagaland presented a deficit budget of ₹337.04 crore for the financial year 2026-27 in the assembly, citing a sharp decrease in the state’s share of central taxes.Rio, who also holds the finance portfolio, described the budget as inclusive and growth-oriented, and announced 17 new programs in sectors such as women entrepreneurship, skill development, transportation, and agriculture.Presenting the budget on the first day of the second phase of the budget session, the chief minister estimated gross receipts at ₹22,507.10 crore and gross expenditure at ₹22,127.33 crore.He stated that the state's own revenue, including taxes and non-tax revenue, is projected at ₹2,714.44 crore, while...

India has approximately 60 days of fuel stock cover, and one month's supply of LPG is readily available. There are no shortages of petrol, diesel, or LPG, and reports of shortages are a deliberate misinformation campaign aimed at creating panic buying.Amid reports of panic buying and long queues at petrol pumps and LPG distributors, the Ministry of Petroleum and Natural Gas released stock details of crude oil, fuels, and LPG to reassure the public.State-owned oil marketing companies also confirmed that there are no shortages of petrol, diesel, or liquefied petroleum gas (LPG), and supplies remain stable.The ministry stated that all petrol pumps across the country are adequately stocked and operating normally, with no rationing of...

New Delhi, March 26 State-owned Energy Efficiency Services Ltd (EESL) is planning new tenders to procure half a million induction cookstoves in two phases to meet the rising demand for e-cooking appliances, official sources said on Thursday.This move is significant in light of the West Asia crisis, which has affected LPG and the country's natural gas supplies.EESL has recently awarded a tender for one lakh induction cookstoves to cater to the rising demand, and has also conducted a tender for induction-compatible utensils, after receiving initial feedback from various state governments and customers, the official sources said."Given the overwhelming response to demand in the current market, EESL plans to issue a fresh tender for...

New Delhi, March 26 Reliance Industries Limited (RIL) on Thursday denied reports that it had purchased Iranian crude, calling these reports "baseless".Earlier reports claimed that RIL had purchased 5 million barrels of Iranian crude after the US administration temporarily lifted sanctions on Iranian oil at sea.According to the report, RIL bought the oil from the National Iranian Oil Co."Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin. These reports are baseless, leading to misleading and incorrect claims," the company said in a statement, urging the concerned media outlets to verify facts before publication.Last week, the US issued a short-term...