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...
Category: Business
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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. ...
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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...
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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...
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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...
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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,...
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Vedanta is set for the next phase of growth and value creation: Anil Agarwal
In a letter to shareholders post the FY26 earnings on Tuesday, Vedanta Chairman, Anil Agarwal, said the company “is embarking on a very exciting new chapter, where strong performance meets exceptional transformation and the stage is set for the next phase of growth and value creation.” The last fiscal, according to him, was the best...
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India to receive fourth unit of S-400 missile systems from Russia next month
India is likely to receive the fourth unit of the S-400 Triumf surface-to-air missile system from Russia early next month, a move expected to further strengthen the Indian Air Force’s air defence capabilities, sources in the security establishment told the news agency PTI on Tuesday (April 28). In October 2018, India had signed a USD 5 billion...
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Sun Pharma to acquire US drugmaker Organon in $11.75 billion all-cash deal
Sun Pharmaceutical Industries will acquire Organon & Co in an all-cash deal, valuing the US drugmaker at about $11.75 billion including debt, in one of India’s biggest outbound deals. The acquisition would help Sun Pharma further expand its women’s health portfolio with access to Organon’s portfolio of more than 70 products across women’s health and...
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Mercedes-Benz CLA EV launched in India at Rs 55 lakh
Mercedes-Benz has launched the all-new CLA EV in India with prices starting from Rs 55 lakh (ex-showroom). The CLA is the new entry-point to Mercedes’ lineup in India, effectively replacing the A-Class Limousine, as well as the EQA and EQB EVs. The CLA is not a new nameplate for India, but this is the first time it’s being...