India’s foreign exchange (forex) reserves rose by $2.362 billion to $703.308 billion in the week ended April 17, according to the latest data from the Reserve Bank of India. The increase came after a $3.825 billion rise in the previous reporting week, when reserves had climbed to $700.946 billion. Gold holdings, a key component of...
Category: Business
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India likely to hand over Chabahar port reins to Iranian entity
Days ahead of the expiry of an extended US sanctions waiver on India’s operations at Chabahar Port, India is moving to divest its stake in the strategic port to an Iranian entity, according to people aware of the developments. The government has worked out a proposal to disinvest the stake of India Ports Global (IPGL)...
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Crude oil prices jump over $102/bbl as Iran attacks three ships amid US blockade
Crude oil prices jumped over $102 per barrel (bbl) during the early market hours on Thursday, April 23, after reports emerged of Iran attacking three ships in the Strait of Hormuz amid the ongoing ceasefire deal with the United States and the military blockade imposed by America at the key trading route. Investors were trading...
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Tim Cook to become Apple Executive Chairman John Ternus to become Apple CEO
Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process. Cook will...
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Gold Rates In India Today Crash By Rs 5,000; Silver Rates Flat; Monday 24K, 22K, 18 Gold Prices
Gold rates in India crashed on Monday, April 20, tracking a weak broader market due to renewed hostilities at the Strait of Hormuz between the US and Iran. This brings back inflationary fear and energy crisis concerns, making the dollar and crude oil attractive but dulling the appeal for precious metals. On Monday, 24 carat gold...
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Meta To Lay Off Around 8,000 Employees By Next Month
Meta intends to conduct a first wave of sweeping layoffs planned for this year on May 20, with more coming later, three sources familiar with the plans told Reuters. The Facebook and Instagram owner will lay off about 10% of its global workforce, or close to 8,000 employees, in that initial round, one of the...
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Man wins €1m Picasso painting in €100 charity raffle
A man has won an original Pablo Picasso painting worth more than €1m (£870,000; $1.2m) in a charity raffle. Ari Hodara, an engineer and art enthusiast, learned he was the winner on Tuesday when he answered a video call from Christie’s auction house in Paris. “How do I know this isn’t a prank?” the 58-year-old...
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Gold and Silver Prices Fall Sharply in India
Gold and silver prices in India traded sharply lower on Monday, tracking weakness in international bullion markets amid a stronger US dollar and reduced expectations of Federal Reserve interest rate cuts this year. The decline came as a surge in crude oil prices intensified inflation concerns. On the Multi Commodity Exchange (MCX), gold futures for...
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Jio-bp not to raise fuel rates despite spike in international oil prices
Jio-BP, the fuel joint venture of Reliance Industries Ltd and BP Plc, does not plan to raise fuel prices immediately despite a spike in international oil prices, its chief executive Akshay Wadhwa said on Friday. The country’s second-largest private fuel retailer has kept retail petrol and diesel rates steady, just like public sector firms, which...
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India to grow at 6.6% in FY27, risks from West Asia crisis persist World Bank
India’s expected economic growth of 6.6% for fiscal 2027 could face significant risks as the Iran war fans inflation worries, but ample foreign exchange buffers and a well-capitalised banking system could help mitigate some of it, the World Bank said. Doubts lingered over a fragile two-week Middle East ceasefire, raising concerns that energy flows through the crucial Strait of Hormuz...