Category: Business

Business

Reliance, Venezuela’s PDVSA resume oil swap under U.S. authorisation, shows document

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Reliance, Venezuela’s PDVSA resume oil swap under U.S. authorisation, shows document

“Before sanctions, India was Venezuela’s second largest market for its crude,” according to ship tracking data. | Photo Credit: Reuters “Reliance Industries and Venezuela’s state oil company PDVSA have resumed an oil swap that had been paused owing to U.S. sanctions on the South American country,” according to an internal PDVSA document showed on Thursday…

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Business

Markets decline in early trade amid unabated foreign fund outflows

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Markets decline in early trade amid unabated foreign fund outflows

The 30-share BSE benchmark Sensex declined 214.08 points to 79,003.97 in early trade. The NSE Nifty also dipped 63.8 points to 23,887.90. File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty declined in early trade on Friday (December 20, 2024) amid unabated foreign fund outflows and concerns over the US Federal Reserve signalling…

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Indian markets join global selloff as U.S. Fed indicates fewer rate cuts ahead; Sensex sinks below 80k

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Indian markets join global selloff as U.S. Fed indicates fewer rate cuts ahead; Sensex sinks below 80k

Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the U.S. Federal Reserve signalled fewer rate cuts next year. Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said. Falling for…

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Business

Air India orders 34 trainer aircraft for its flying school

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Air India orders 34 trainer aircraft for its flying school

Air India has ordered 34 trainer aircraft for its upcoming flying training school in Amravati. The order includes 31 single-engine aircraft from Piper Aircraft in the United States and three multi-engine aircraft from Diamond Aircraft in Austria. | Photo Credit: Air India Air India has ordered 34 trainer aircraft for its upcoming flying training school…

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Business

Rupee falls 14 paise to close at all-time low of 85.08 against U.S. dollar

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Rupee falls 14 paise to close at all-time low of 85.08 against U.S. dollar

Image used for representative purpose only. | Photo Credit: Reuters The rupee dropped 14 paise and breached the crucial 85 level to close at an all-time low of 85.08 (provisional) against the U.S. dollar on Thursday, as a hawkish stance from the U.S. Federal Reserve sparked a broad dollar rally. Forex traders said the Indian…

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Business

Aircraft lessor Genesis to buy stake in SpiceJet as part of settling $16 million dispute

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Aircraft lessor Genesis to buy stake in SpiceJet as part of settling million dispute

SpiceJet recently raised ₹3,000 crore amid financial headwinds. File | Photo Credit: Reuters SpiceJet on Thursday (December 19, 2024) said aircraft lessor Genesis will acquire a stake worth $4 million in the airline as part of settling a more than $16 million dispute. For the settlement, the airline will also pay $6 million to Genesis….

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No impact of Swiss withdrawal of MFN status to India: Nestle India

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No impact of Swiss withdrawal of MFN status to India: Nestle India

India is among the top ten markets of the Swiss Fast-Moving Consumer Goods (FMCG) major Nestle SA, where it has been operating for 112 years. File | Photo Credit: Reuters Fast-Moving Consumer Goods (FMCG) major Nestle India on Thursday (December 19, 2024) said the suspension of the MFN (most favoured nation) clause granted to India…

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Business

Footwear component making to play key role to meet industry target of $26 billion by 2030

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Footwear component making to play key role to meet industry target of billion by 2030

To ensure Indian companies manufacture high quality products, BIS which has been implemented will be applicable on all shoes from April 2025 onwards. Besides India has gone for its own standard in sizes of shoes rather than following the UK or the US sizes. Shoes in Indian sizes will be available from April 2025, Mr…

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