Business

The rupee fell to a fresh record low on Wednesday as elevated oil prices and rising US Treasury yields weighed on investor sentiment, while concerns over prolonged geopolitical tensions and potential global rate hikes continued to pressure emerging market currencies, Reuters reported.The domestic currency touched an all-time low of 96.96 against the US dollar during…

The Reserve Bank of India (RBI) on Tuesday announced a $5 billion USD/INR buy-sell swap auction scheduled for May 26 as part of efforts to inject long-term liquidity into the banking system, PTI reported. The move also comes at a time when the rupee has weakened sharply against the US dollar amid continued global uncertainties….

US stocks moved higher on Wednesday and edged toward their first gain in four sessions as easing pressure in the bond market and stronger-than-expected corporate earnings supported investor sentiment.The S&P 500 rose 0.3 per cent in early trade, moving closer to the record high reached last week. The Dow Jones Industrial Average slipped 62 points,…

The Comptroller and Auditor General (CAG) is developing a large language model (LLM) platform and deploying artificial intelligence (AI) and machine learning (ML) tools to strengthen public sector auditing, improve risk detection and enable faster identification of procurement concentration and cartel-risk indicators, PTI reported.Comptroller and Auditor General K Sanjay Murthy on Wednesday said the country’s…

Mumbai: Skydo, a cross-border payments platform for Indian exporters/businesses, is among the first to receive in-principle approval to operate as a cross-border Payment Service Provider at GIFT City IFSC.The GIFT City presence plugs Skydo into a globally-aligned finance hub built for cross-border flows. It unlocks build-for-global infra/products tailored to firms selling, buying, operating abroad. These…

China has signalled that it is willing to accept a certain level of US tariffs while pushing for an extension of the ongoing trade truce with Washington, a move that could indicate further stabilisation in ties between the world’s two largest economies, Bloomberg reported.According to a statement issued by China’s Commerce Ministry on Wednesday, Beijing…

Mumbai: Indian bank branches continue to draw their heaviest footfall from entrepreneurs, rural customers and affluent clients, while younger, digital-native users remain the least likely to walk in, according to a report by EY, which also noted that 55% of customers want better digital support across apps, websites and chatbots.The report finds that middle-age entrepreneurs…

In US, single Gen Z women are buying homes at a significantly higher rate than their male counterparts even as overall first-time homebuying activity has fallen to its lowest level in decades, according to survey data from the National Association of Realtors (NAR) as reported AP.Single Gen Z women accounted for 35 per cent of…

Parle Industries shares surged 5% on Tuesday and hit the upper circuit limit. During intraday trading on the BSE, the stock advanced 5% to Rs 5.25 as investors appeared to respond to the viral “Melody” exchange involving PM Narendra Modi and Italian Prime Minister Giorgia Meloni. However, interestingly the listed company that witnessed the rally…

Inflation and interest rates will remain the key drivers for gold and silver in the week ahead. (AI image) Gold price prediction today: For both gold and silver prices, the near-term outlook remains weak, says Vedika Narvekar, Research Analyst – Commodities & Currencies, Anand Rathi Shares and Stock Brokers.Spot gold and silver ended last week…