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Global oil supply: Iran may use threat of closing Strait of Hormuz as leverage only; analysts say markets remain in surplus

Despite Iran's repeated threats to close the Strait of Hormuz, a vital chokepoint for global oil, analysts believe an actual shutdown is unlikely, viewing it as a diplomatic tactic. Global oil markets are prepared for potential disruptions, with ample supply and rising US shale production.

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Business

ITR e-filing AY 2025-25: What is Annual Information Statement (AIS) and how is it different from Form 26AS? Top points for taxpayers

The Annual Information Statement (AIS) is a comprehensive tool for taxpayers, offering a detailed view of financial transactions beyond just TDS/TCS. It helps in accurate tax reporting by providing a broader overview of income sources like interest, dividends, and securities transactions.

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Business

India-UK FTA: Focused on doing trade deals to complement, not compete, says Goyal; 'massive investments' in innovation sector over the next decade

Union Minister Piyush Goyal highlighted India's trade dialogues with complementary economies, emphasizing the win-win nature of the UK-India FTA, particularly regarding insurance concessions and business mobility. Both Goyal and UK Trade Secretary Jonathan Reynolds affirmed the deal's benefits and the absence of disadvantages for British workers.

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Business

Crypto heist: Israel-linked hackers drain $90 million from Iran’s Nobitex; ‘Assets now entirely out in the open’

Hackers, suspected to be linked with Israel, have stolen over $90 million from Nobitex, Iran's largest cryptocurrency exchange. The group, Predatory Sparrow, leaked Nobitex's source code and accused the platform of aiding Iran's government in circumventing sanctions and supporting militant groups. This cyberattack follows escalating tensions between Israel and Iran, raising concerns about cryptocurrency's role in international sanctions evasion.

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Business

India bleeds Pakistan dry: Water at ‘dead’ levels in Pakistan's dams; bigger Indus river plans in the works - top points to know

Following the Indus Waters Treaty suspension, India is optimizing the Indus river system, looking to construct a 113-km canal to redirect water to Punjab, Haryana, and Rajasthan. This inter-basin transfer aims to maximize water usage from eastern rivers and fully utilize India's share of western rivers, potentially limiting Pakistan's water access.

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Business

Power generation: India records third-highest growth in power generation; behind only US & China in last five years

India ranks as the third-fastest-growing country in power generation, driven by rising electricity demand and a strong clean energy agenda. Solar PV projects lead renewable investments, constituting over half of non-fossil energy investments. In 2024, 83% of power sector investment was directed towards clean energy, supported by significant DFI funding and FDI inflows.

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Business

Air India crash aftermath: Tata Sons chair Chandrasekaran skips TCS annual general meeting; Keki Mistry presides in absence

N Chandrasekaran, Tata Sons chairman, missed TCS's AGM for the second consecutive day due to pressing matters, following his absence from Tata Consumer Products' AGM. Keki Mistry presided over the TCS meeting, conveying the group's deep sorrow over the Air India tragedy, which reportedly claimed at least 270 lives. The TCS board observed a minute's silence for the victims.

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Business

Air India crash aftermath: Aviation minister Ram Mohan Naidu holds meeting with airlines, airport officials - Key points

Following the recent Air India incident, the Ministry of Civil Aviation has initiated a comprehensive safety review, focusing on airline performance and passenger support. Minister Kinjarapu directed airports to improve passenger services during disruptions and enhance safety measures. Air India is restructuring flights due to Middle East conflicts and European restrictions, offering rebookings or refunds.

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Business

UK interest rates: Bank of England likely to keep rates unchanged; cautious stance amid Middle East tensions

The Bank of England is likely to maintain current interest rates. Concerns rise over the Israel-Iran conflict's impact. This conflict could involve the United States, potentially increasing oil prices. UK inflation remains high, exceeding the 2% target. Rising oil prices may further strain consumer finances. Global trade tensions, particularly involving potential US tariffs, add to economic uncertainty.

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Business

From India to Guinea: Indian railways to export 150 Bihar-made locomotives to Africa; 10 things to know about the Rs 3,000 crore deal

India secures a significant Rs 3,000 crore deal to export locomotives to Guinea, bolstering its global railway manufacturing presence. The 'Make in India' initiative will see 150 Bihar-made locomotives supporting Guinea's Simandou iron ore project. This collaboration with Wabtec showcases advanced technology and strengthens India-Africa economic ties, creating jobs and advancing manufacturing technology.

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Business

Challenging Coca-Cola & PepsiCo: Reliance to invest up to Rs 8,000 crore in Campa, beverages expansion over next 15 months

Reliance Consumer Products is set to invest ₹6,000-8,000 crore to expand its beverage business, challenging Coca-Cola and PepsiCo. This investment will support new plants across India. RCPL's portfolio includes Campa Cola and other brands, with aggressive pricing strategies. The company aims for national availability by 2027, leveraging a growing distribution network.

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Business

India strengthens economic ties with G7: Boost in high-tech, pharma exports; Canada is only exception

India's trade with the G7 nations has experienced substantial growth, reaching $248 billion in FY25 with a 13% CAGR since FY21. Exports to the G7 hit $138 billion, while imports totaled $110 billion. India maintains a $28 billion trade surplus, driven by key sectors like telecom equipment and pharmaceuticals, with mobile phone exports surging by 55%.

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Business

Sealed over a chocolate ice cream! How India-UK trade deal was finalised during a walk in London’s Hyde Park, Piyush Goyal reveals

India and the UK finalized their Free Trade Agreement (FTA) during an informal meeting in London's Hyde Park, where Minister Piyush Goyal and his UK counterpart, Jonathan Reynolds, sealed the deal over ice cream.

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Business

‘Fundamentally well supplied..’: Brent crude prices expected to average $70 in FY26 despite Israel-Iran conflict, says report

Emkay Research projects Brent crude oil prices to average $70 per barrel in fiscal year 2026. This is despite Middle East tensions. Oil markets are well supplied. Production is rising from OPEC+ and non-OPEC+ nations. A ceasefire could lower prices. Gas markets could face pressure. Risks of escalation remain real. The Strait of Hormuz closure could surge global prices.

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Business

Siemens Energy India listing: Stock surges 5%, hits upper circuit; here’s what brokerages recommend

Siemens Energy India's stock surged to its upper limit upon listing, with experts predicting up to 30% gains driven by India's power infrastructure investments. Brokerages like Jefferies anticipate significant EPS CAGR, supported by T&D projects and efficiency.

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Business

Applying for PAN Card? Aadhaar to be mandatory for Permanent Account Number; new rule likely from July 1, 2025

From July 1, obtaining a new PAN card will require mandatory Aadhaar authentication, according to the Central Board of Direct Taxes. This initiative aims to enhance accountability and compliance in tax filing through digitalization. While existing PAN holders have until December 31, 2025, to link their Aadhaar without penalty, failure to do so will render their PAN inoperative next year.

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Business

Trump says Fed Chair Powell ‘costing America billions’; slams him for not cutting rates

US president Trump criticised Federal Reserve Chairman Jerome Powell for not cutting interest rates, labeling him a "real dummy" and blaming him for economic harm. This came after the Fed decided to hold steady, citing a need to monitor inflation and the impact of new tariffs. The Fed also revised its economic outlook, lowering growth forecasts and raising inflation expectations.

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Business

Air India plane crash: Black box of 787 Dreamliner to be sent to US for data recovery; ‘recorders sustained heavy damage…’

India will send the severely damaged black box from the Air India Boeing 787 crash to the United States for detailed analysis. Data extraction in India has proven unfeasible due to extensive fire damage. The National Safety Transport Board in Washington will examine the Digital Flight Data Recorder.

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