In what is being described as one of the most contentious exchanges between the two leaders since Trump returned to office, the US President reportedly unleashed a profanity-laced tirade at Israeli Prime Minister Benjamin Netanyahu in a phone call, accusing him of reckless military escalation in Lebanon and threatening to unravel Washington’s sensitive negotiations with Iran. The confrontation, reported by...
Business
Noel Tata flags unresolved issues; Tata Sons chairman reappointment on hold
Mumbai: Tata Trusts chairman Noel Tata conveyed to Tata Sons board after the meeting last week that several key issues remained unresolved, rendering any formal discussion on the reappointment of the holding company’s chairman N Chandrasekaran premature, said people familiar with the matter.
Oil Prices Suffer Biggest Weekly Collapse in Two Months
ICE Brent is set to post its largest weekly loss in two months, dropping by almost 10%, as media reports present a 60-day extension of the current ceasefire and a temporary Hormuz navigation deal as close to being a done deal. Whether US President Trump and Iran’s Supreme Leader Khamenei agree to the deal or not, Brent at $92 per...
Byju Raveendran sentenced to six months in jail by Singapore court
Byju Raveendran, founder of embattled edtech company Byju’s, has been sentenced to six months in jail by a Singapore court for contempt of court, reported Bloomberg. The dramatic fall of one of India’s biggest startup success stories took another sharp turn. The court reportedly found that Raveendran repeatedly violated multiple court orders linked to his assets dating back to April...
SpaceX unveils blockbuster IPO filing, eyes record $1.75 trillion valuation
Elon Musk’s rocket and satellite company SpaceX unveiled its long-awaited initial public offering filing, opening its books to investors for the first time and setting the stage for what could become the largest and most consequential stock market debut in US history. The listing could value the company at as much as $1.75 trillion, instantly making SpaceX one of the...
Crude oil dips for second day as Trump says Iran war could end ‘very quickly
Oil prices edged lower for a second session in a row on Wednesday after U.S. President Donald Trump reiterated that the conflict with Iran would end “very quickly”. However, markets remained cautious as uncertainty persisted over peace negotiations and ongoing disruptions to Middle East oil supplies.
Oil touches 2-week high after drone attack on UAE nuclear power plant
Oil prices extended gains on Monday as efforts to end the US-Israeli war on Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald Trump is expected to discuss military options on Iran. Brent crude futures climbed $1.44, or 1.32%, to $110.70 a barrel by 2337 GMT...
Gold imports capped at 100 kg per licence
The government on Thursday restricted the import of gold under advance authorisation to 100 kg per licence, the Directorate General of Foreign Trade (DGFT) said in a notice. Importers will have to fulfil 50 per cent of the committed export obligation under a licence before issuance of a subsequent advance authorisation, according to the notice. Regional authorities will also undertake...
India bans exports of raw, white and refined sugar with immediate effect
India has prohibited the export of sugar with immediate effect until September 30, or until further orders, the government said on Wednesday, tightening overseas shipments of the sweetener amid domestic supply considerations. The ban applies to raw, white and refined sugar and marks a shift in policy from “restricted” to “prohibited”, according to a notification issued by the Directorate General...
Govt raises import tariffs on gold, silver to 15% to curb imports
India has raised import tariffs on gold and silver to 15 per cent from 6 per cent, government orders said on Wednesday, as part of efforts to curb overseas purchases of the metals and ease pressure on the country’s foreign exchange reserves. The higher duties could dampen demand in the world’s second-largest consumer of precious metals, although they may help...
Govt appoints new CDS, Lieutenant General N S Raja Subramani (Retd.)
The government on Saturday appointed Lieutenant General N S Raja Subramani (Retd.) as the new Chief of Defence Staff (CDS) and Secretary of the Department of Military Affairs in the Ministry of Defence (MoD), a role in which he is likely to carry forward the process of reorganising the country’s armed forces under an integrated theatre command structure, bringing with...
Space funding hits record as Skyroot becomes India’s first space unicorn
Almost six years after India opened its space sector for private players in May 2020, the country’s booming private sector space industry has got its first unicorn. Launch vehicle startup Skyroot Aerospace on Thursday announced raising nearly $60 million at a pre-money valuation of $1.1 billion. The round was co-led by Sherpalo Ventures and GIC, a global institutional investor, with...