MUMBAI: The accepted wisdom, for years, was that global uncertainties and inflation would drive the prices of precious metals northward. The war in West Asia is challenging that direction of causality.Despite heightened global uncertainties and fear of oil-price-led inflation, the price of the two precious metals-gold and silver-have slid southward. And market players and analysts…
MUMBAI: The Reserve Bank of India (RBI) wants the payments industry to move towards an interoperable system that allows customers to view all mandates across payment instruments, whether UPI or credit cards, in a single interface. The central bank wants to position it as a key customer protection measure at a time when subscription-based services…
NE DELHI: Beer makers on Tuesday warned of supply disruptions this summer due to cost increase and inadequate availability of packing material, while Indian alcohol makers have asked states to revise prices of Indian Made Foreign Liquor, citing price pressures. The Confederation of Indian Alcoholic Beverage Companies said a weaker rupee, along with higher cost…
MUMBAI: Your next bottle of soft drink could cost you more and chances are that you will get lesser value out of the pack of biscuits or chips you buy. Consumer goods companies are implementing a mix of selective price hikes and grammage cuts to pass on some of the steep rise in input costs…
NEW DELHI: Maruti Suzuki on Tuesday approved investment of Rs 10,189 crore to add capacity of 2.5 lakh vehicles per year at its upcoming manufacturing facility in Gujarat, as the country’s largest carmaker looks to meet growing domestic demand including exports. Source link
NEW DELHI: Two major railway PSUs – Rail Vikas Nigam (RVNL) and Ircon International – are set to be merged as part of a move to create a bigger entity that can take up larger domestic and international projects, instead of competing with each other, top officials said Tuesday.This marks the second PSU merger after…
Ordering meals online is set to become slightly more expensive, with food delivery platform Swiggy increasing the platform fee it charges users to Rs 17.58 per order, according to details on its app on Tuesday. The move comes days after rival Zomato raised similar charges.Swiggy had last revised its platform fee in September last year….
Last Friday, the Donald Trump administration granted a 30-day waiver on sanctions for Iranian oil already in transit. (AI image) With the US waiving sanctions on Iran oil, Reliance Industries has reportedly bought 5 million barrels of Iranian crude. Reliance runs the world’s largest refining complex. The effective closure of the Strait of Hormuz has…
The rupee weakened by 23 paise to settle at an all-time low of 93.76 against the US dollar on Tuesday, pressured by a strengthening greenback and elevated global crude oil prices that dampened investor sentiment.Forex traders said continued foreign fund outflows amid uncertainties linked to the Middle East crisis also weighed on the domestic currency,…
Epic Games on Tuesday said it will lay off more than 1,000 employees as the video game publisher moves to cut costs amid industry-wide pressures and company-specific challenges, AP reported.The Cary, North Carolina-based company said the job reductions are not linked to artificial intelligence, but reflect slower growth in the gaming sector, weaker consumer spending…
