Business

India’s leather and footwear industry is struggling with high input costs due to the ongoing Middle East crisis and is seeking import duty exemptions on essential raw materials, machinery and components. Industry representatives have taken up the issue with the commerce and industry ministry, warning that the disruption has sharply raised the cost of several…

Stock markets are heading into a crucial week, with investors likely to keep a close watch on state election results, crude oil prices and the ongoing Middle East conflict. Vote counting for assembly elections in West Bengal, Tamil Nadu, Kerala, Assam and Puducherry will begin on Monday, May 4, and analysts believe the results could…

Dalal Street closed the holiday-shortened week in the green, lifting the combined market valuation of India’s top 10 most valued firms by Rs 2.20 lakh crore. Reliance Industries led the rally as investor sentiment remained resilient despite a volatile trading environment.The gains came even as the stock market moved within a narrow range. The BSE…

Pakistan’s struggling economy is likely to remain under sustained pressure, with double-digit inflation expected to persist if global oil prices continue to surge amid the ongoing Middle East crisis, according to a report by Dawn.Topline Securities Ltd, in its latest “Pakistan Strategy” report released Saturday, provided a grim assessment of the impact of rising energy…

A Chinese court ruled that companies cannot terminate employees just to replace them with artificial intelligence systems, as authorities juggle the need to stabilise the domestic labour market with a global race to develop AI technologies.The court decided that a tech firm in eastern China had illegally fired one of its workers after he refused…

Adam Back has spent weeks being asked yet again, by various people, whether he is the inventor of Bitcoin. He is not, he says. He has been saying so for years and again since the New York Times suggested in early April, after dissecting writings from the early cypherpunk era, that Adam Back was the…

MUMBAI: Kotak Mahindra Bank Saturday confirmed that it is looking at Deutsche Bank’s retail business, which is on the block, while stating that it has dropped out of IDBI Bank acquisition race because of the valuation and it would be ‘difficult to swallow’.Responding to queries at an earnings press conference Ashok Vaswani, MD & CEO…

NEW DELHI: The Centre has notified two crucial changes to foreign direct investment rules — the first relating to flows from neighbouring countries such as China and the second allowing up to 100% investment in insurance business — as it seeks to step up inflows amid a weak rupee.Starting May 1, companies with up to…

AI image used for representation purpose Indian equities ended the week on a volatile note, with the Sensex and Nifty witnessing sharp swings and closing lower as uncertainty around the US–Iran conflict kept investors on edge.The impact spilled beyond equities. The rupee slid to record lows near 95 against the US dollar, pressured by surging…

The government on Saturday soothed concerns over fuel availability across the country, assuring that it has taken measures to ensure an uninterrupted supply and has stepped up contingency arrangements across key sectors. This comes as the world’s energy pipeline continues to be disrupted due to the Middle East war, that began back on February 28.In…