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NEW DELHI: 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 will remain restricted. India, which imports about 90% of its oil, is among economies most exposed to ...Read More >
BENGALURU: US stock index futures climbed on Wednesday as investors breathed a sigh of relief after the US and Iran agreed to a two-week ceasefire, sending crude prices lower on expectations that energy supplies through the Strait of Hormuz could resume. The announcement came less than two hours before US President Donald Trump's deadline, in a sharp turnaround from his previous warning of wiping out "a whole civilization" if Tehran did not reopen the Strait of Hormuz, the narrow waterway that ...Read More >
NEW DELHI: India is set to receive its first oil from Iran in seven years this week, after the US temporarily removed sanctions on Iranian oil and refined products to ease supply shortages, ship tracking data from LSEG and Kpler showed on Wednesday. The cargo on the Curacao-flagged very large crude carrier Jaya was purchased by state-run Indian Oil Corp IOC and is heading to India's east coast, the data showed. Indian Oil, the country's top refiner, did not immediately respond to a Reuters ema ...Read More >
BENGALURU: Bill Ackman's Pershing Square on Tuesday proposed merging its acquisition vehicle with Universal Music Group with a plan to list in the United States in a deal aimed at reviving the world's biggest music label's value. Pershing Square's cash-and-shares offer values Universal Music at around 30.40 euros per share, representing a 78% premium to last close price at 17.10 euros and making the deal worth 55.75 billion euros (US$64.31 billion), according to Reuters calculation. Universal ...Read More >
NEW DELHI: The chief executive of Indian carrier Air India, Campbell Wilson, has resigned from his position, local media reported Tuesday. The reports did not specify the reasons for Wilson's resignation, but the airline has come under increased regulatory scrutiny in recent months following safety-related incidents and operational disruptions. New Zealand-born Wilson, who took over in 2022 following the airline's privatisation, submitted his resignation before the end of his five-year term, t ...Read More >
HYDERABAD: Soon-to-be brides and grooms seeking shortcuts to shed pounds before the big day have become the latest consumer target for weight-loss drugs in India. New Delhi wellness clinic Klarity Skin Clinic touts a "Mounjaro bride" package, while other clinics have woven weight-loss injections into "pre-wedding" transformation packages typically focused on skin treatments and hairstyle makeovers. In a social media video, Klarity offers "guided nutrition, Mounjaro and smart workouts" to prepa ...Read More >
NEW DELHI: India's defence exports "skyrocketed" to an all-time high of more than US$4 billion in the last fiscal year, as it looks to boost its arms manufacturing sector, the government said Thursday. The figures mark a rise of more than 60% from 2024, the defence ministry said, and provide a shot in the arm for the South Asian country, which is determined to recast itself as a major producer and exporter of weapons. "India is marching ahead towards becoming a global defence manufacturing hub ...Read More >
NEW DELHI: India's oil ministry said today that domestic jet fuel prices would rise as the Middle East war pushed up energy costs, but that it had cushioned airlines from an expected 100% jump. Aviation turbine fuel (ATF) makes up a substantial chunk of airlines' expenses, and sustained increases could translate into higher airfares. State-run refiner Indian Oil Corporation said that ATF prices rose by 8.5% in the capital Delhi, with similar rises in other major cities. "Due to the closure of ...Read More >
NEW DELHI: Buddhist spiritual leader the Dalai Lama warned today that violence only results in more conflict, urging peace as conflict rages in the Middle East and Ukraine. "History has shown us time and again that violence only begets more violence and is never a lasting foundation for peace," he wrote in a letter today. "An enduring resolution to conflict, including the ones we see in the Middle East or between Russia and Ukraine, must be rooted in dialogue, diplomacy and mutual respect - ap ...Read More >
BENGALURU: Indian restaurant MadCo took the tough call this week to remove some menu favourites, including bone marrow -- a beef bone cut in half and slowly roasted, in an attempt to save cooking gas as the Iran war disrupts supply chains. Far from the Middle East, restaurants in the world's fastest-growing major economy are feeling the heat of the conflict with cooking gas shortages. "We saw it coming, but didn't expect it to hit us this quickly," said MadCo's director Santosh Abraham, adding ...Read More >
HYDERABAD: The alleged gunman shot dead by police during Sunday's attack on Australia's Bondi beach was originally from the southern Indian city of Hyderabad and his family did not know about his "radical mindset", Indian police said on Tuesday. Fifteen people were killed in the attack on a Hanukkah event, Australia's worst mass shooting in nearly 30 years, and it is being investigated as an act of terrorism targeting the Jewish community. Degree in commerce In a statement providing more deta ...Read More >
MUMBAI: India's top financial crimes agency said it had seized properties worth over US$846 million from firms linked to beleaguered tycoon Anil Ambani as part of a bank fraud probe. Anil, the younger sibling of Asia's richest person Mukesh Ambani, has business interests ranging from power to defence but has seen his fortunes wane over the last two decades. In recent months, the industrialist has attracted law enforcement scrutiny with investigators probing alleged crimes ranging from diversio ...Read More >
NEW DELHI: Indian oil refiners can shift away from Russian crude after US President Donald Trump imposed sanctions on Moscow's two largest oil companies - but the move will come at a cost, analysts said Friday. Trump has claimed that Indian Prime Minister Narendra Modi has agreed to cut its Russian oil imports as part of a prospective US trade deal - something New Delhi has not confirmed. Relations between the countries plummeted in August after Trump raised tariffs on Indian exports to the US ...Read More >
NEW DELHI: India and the United States are nearing a long-stalled trade agreement that would reduce U.S. tariffs on Indian imports to 15%-16% from 50%, India's Mint reported on Wednesday citing three people aware of the matter. The deal, which hinges on energy and agriculture, may see India gradually scale back its imports of Russian crude oil, Mint reported. India's Ministry of Commerce and Industry and the White House did not immediately respond to Reuters' requests for comment. U.S. Presid ...Read More >
NEW DELHI: India has refused drugmakers' requests to extend a year-end deadline for them to upgrade their manufacturing facilities to international standards, four sources said, amid public anger over the recent deaths of at least 24 children who consumed locally-produced cough syrup. New Delhi had in late 2023 ordered pharmaceutical companies to ensure their plants meet World Health Organization-recommended standards, which would require them to invest in protocols to prevent cross-contaminati ...Read More >
SRINAGAR: At least 12 people were feared dead and more trapped following sudden, heavy rain in Indian Kashmir, an official said today. The disaster occurred in Chasoti town of Kishtwar district, a pit stop on a popular pilgrimage route. It comes a little over a week after a heavy flood and mudslide engulfed an entire village in the Himalayan state of Uttarakhand. "The news is grim and accurate, verified information from the area hit by the cloudburst is slow in arriving," Omar Abdullah, the c ...Read More >
MUMBAI: India's palm oil imports fell in July because of cancellations of import contracts, while soyoil shipments surged to a 3-year high due to competitive prices and the delivery of delayed shipments from June, according to five dealers. Lower palm oil imports by India, the world's biggest buyer of vegetable oils, could lead to a stock buildup in top producers Indonesia and Malaysia and weigh on benchmark Malaysian palm oil futures. In July, palm oil imports declined by 10% to 858,000 metri ...Read More >
New Delhi: The Sarai Kale Khan Namo Bharat station, which will be the converging point for three Regional Rapid Transit System (RRTS) corridors, is ready for operations. Trial runs have been concluded with the state govt to take a final decision on when it can open for public use."The final touches are being given to the station," said an official of the National Capital Region Transport Corporation (NCRTC), which is executing the Delhi-Ghaziabad-Meerut RRTS corridor. Sarai Kale Khan is set to b ...Read More >
BENGALURU: Air India said on Tuesday it would partially restore its international flight schedule that was scaled back following the crash involving its flight last month that killed 260 people. As part of the restoration, Air India will start a thrice-weekly service between Ahmedabad and London Heathrow from Aug 1 to Sept 30, replacing the currently operating five-times-a-week flights between Ahmedabad and London Gatwick. A Boeing Dreamliner bound for London from the Indian city of Ahmedabad ...Read More >
NEW DELHI: Fuel control switches to the engines of an Air India flight that crashed shortly after takeoff, killing 260 people, were moved from the "run" to the "cutoff" position moments before impact, a preliminary investigation report said early Saturday. The report, issued by India's Aircraft Accident Investigation Bureau, did not offer any conclusions or apportion blame for the June 12 disaster but indicated that one pilot asked the other why he cut off fuel, and the second pilot responded t ...Read More >
NEW DELHI: Social media platform X said today it was "deeply concerned" after the Indian government ordered it last week to block 2,355 accounts, including two Reuters news agency accounts. Many of the blocked accounts were restored hours later, with New Delhi specifically denying its role in the takedown. India, the world's biggest democracy, regularly ranks among the top five countries for the number of requests made by a government to remove social media content. "On July 3, 2025, the Indi ...Read More >
MUMBAI: India's market regulator has temporarily banned US trading firm Jane Street Group from accessing the local securities market after a probe suggested it had allegedly engaged in "illegal manipulation". A trading boom in complex financial products over the past five years - helped by an influx of millions of new retail investors after the pandemic - has made India a top market for derivatives products. The surge in trading of Indian index options contracts has seen the world's most popul ...Read More >
NEW DELHI: Indian foreign minister Subrahmanyam Jaishankar said today a trade deal with Britain was "truly a milestone" that will boost bilateral ties as he welcomed his counterpart David Lammy to New Delhi. India and Britain struck a long-delayed free trade agreement last month after negotiations were re-launched in February. Britain has sought to bolster trade ties across the world since it left the European Union under Brexit, a need that became more pressing after the US unleashed a global ...Read More >
MUMBAI: India is likely to produce a record 117.5 million tonnes of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tonnes, as higher prices prompted farmers to expand the area planted with high-yielding seed varieties. India, the world's biggest wheat producer after China, produced 113.3 million tonnes of wheat in 2024, the farm ministry said in a statement issued late on Wednesday. However, a leading industry body said the crop was nearly ...Read More >
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