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The U.S. Department of Justice has permanently dropped all criminal charges against Indian tycoon Gautam Adani and his nephew Sagar, bringing the high-profile securities and wire fraud case in New York to a complete close after prosecutors concluded they could not sustain the allegations. With this, multiple U.S. regulatory and legal investigations involving the group…
There is a price difference of about ₹30 to ₹50 per liter between commercial/industrial and retail diesel. | Photo Credit: K. Murali Kumar Even as the Union Government and oil marketing companies are claiming that all is fine and there is no shortage of petroleum products all over the country, transporters, and retail customers from various…
Read More “Shortages of diesel in pockets seen hampering free movement of trucks” »
Image for representational purposes only. | Photo Credit: ANI The benchmark Nifty 50 closed flat even as the oil prices soared to $110 a barrel and rupee depreciated to ₹96.2 a dollar, on Monday (May 18, 2026). The head line numbers show a marginal 0.03% increase in Nifty closing at 23,649.95 points. To be sure,…
Read More “Nifty flat but most stocks declined on costly oil” »
The Food Corporation of India (FCI) is set to raise short-term debt of ₹50,000 crore from scheduled banks for a three-month tenure, with a green shoe option to mop up an additional ₹25,000 crore, a senior government official said on Monday. The funds are being raised to bridge cash flow mismatches arising from procurement and…
Read More “FCI to raise ₹50,000 crore short-term loan for foodgrain operations” »
According to a circular, reviewed by The Hindu, the Department of Financial Services asked the heads of its regulated entities to cut costs along two broad heads: reduction in travel, and the adoption of electric vehicles (EVs). File | Photo Credit: The Hindu The Ministry of Finance on Monday (May 18, 2026) wrote to the…
Last week, Prime Minister Narendra Modi urged citizens to reduce spending on petroleum products, cut edible oil consumption, delay non-essential gold purchases by a year, avoid unnecessary foreign travel, and prioritise the purchase of locally made products. He also advised increased use of public transport and electric vehicles, and called for the revival of Covid-era…
Ambassador May-Elin Stener | Photo Credit: RAGU R Two days after U.S.’ second waiver on Russian oil purchases expired, the government emphasised that India’s oil-marketing companies (OMCs) would continue purchasing crude from Moscow should they be commercially viable. Speaking to reporters at the bi-weekly briefing on the situation in West Asia, Sujata Sharma, Joint-Secretary at…
Joint Secretary, Ministry of Petroleum and Natural Gas Sujata Sharma said, “Under-recovery is still there, and losses for the OMCs continue to occur.” File. | Photo Credit: PTI Following the hike of ₹3 in the prices of petrol and diesel on May 16, the losses being incurred by oil marketing companies from liquefied petroleum gas…
Read More “OMC losses down to ₹750 crore per day following fuel price hike” »
Benchmark indices Sensex and Nifty ended marginally higher on Monday (May 18, 2026) after facing sharp losses in intraday trade, supported by value buying in IT and select blue-chip counters. However, a weak rupee against the U.S. dollar and rising global crude prices amid escalated tensions in West Asia capped the gains, traders said. In…
Read More “Stock markets end marginally higher on buying in IT counters” »
At the interbank foreign exchange market, the rupee opened at 96.19, then fell further to 96.39 against the U.S. dollar, registering a fall of 58 paise from its previous close. Representational image. | Photo Credit: Getty Images/iStockphoto The rupee weakened further and closed at a record low of 96.35 (provisional) against the U.S. dollar on…
Read More “Rupee settles at record low of 96.35 against U.S. dollar” »