Business

File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump on Friday claimed that the American economy was “soaring”, pointing to record stock market performance, rising exports, increased investment and tax cuts as signs that the country had entered a new period of economic growth.In a post on his Truth Social platform,…

MUMBAI: Credit growth remained elevated across the banking system on a year-on-year basis for the quarter ended June 2026 with few banks reporting advances growing at double the rate of credit growth. In contrast, the wedge between credit and deposit growth widened with some banks (Bank of Baroda, IDBI and RBL) reporting a dip in…

CHENNAI: Cyberattacks on two major Indian manufacturing facilities recently have highlighted growing cyber risks facing India’s factory floors once again.Bajaj Auto and one of its subsidiaries reported a ransomware attack that affected parts of their IT systems on June 23, while Tata Electronics disclosed a cyber breach a day earlier. Both companies said they activated…

Representative image (ANI) NEW DELHI: For many Indian consumers, owning an iPhone remains a status symbol. So, it would be easy to assume that Apple dominates smartphone purchases made through easy monthly instalments. The reality, however, is quite different.Samsung is the country’s leading smartphone brand in terms of devices sold through financing, followed by Vivo…

Finance minister Nirmala Sitharaman NEW DELHI: Finance minister Nirmala Sitharaman on Friday described the middle class as the growth engine of India and said nearly 500 cities are poised to emerge as the country’s next centres of economic activity.Participating in a panel discussion on ‘How to promote the rise of a new middle class’ at…

BENGALURU: German software major SAP is tightening hiring, travel and third-party spending as it steps up investments in artificial intelligence, according to an internal email sent to employees.In the email, SAP said the rapid pace of AI adoption is driving significant investments in AI products, strategic acquisitions and the infrastructure needed to support AI workloads….

BENGALURU: India’s AI data-centre boom is creating an unexpected winner: engineers from mechanical, electrical and industrial backgrounds. As companies race to build energy-intensive AI infrastructure, mechanical, electrical and cooling engineers-roles long overshadowed by software jobs-are back in demand, commanding hefty salaries and opening a new career path for industrial talent.Companies actively hiring span the full…

NEW DELHI: Commerce and industry minister Piyush Goyal on Friday urged states to identify products that are currently imported but can be manufactured competitively in India.He said such efforts would not only reduce import dependence and save foreign exchange but also strengthen domestic supply chains and reduce vulnerabilities arising from excessive dependence on foreign suppliers.This…

Terminal is inspired by Rajasthan’s royal heritage, featuring arches, domes and design motifs reflecting local culture Prime Minister Narendra Modi on Friday shared images of the new Jodhpur airport terminal, describing it as a major boost for tourism and connectivity ahead of its inauguration on July 4.In a post on X along with the pictures,…

Piyush Goyal said India exported goods and services worth $863 billion in 2025-26 India has set an ambitious target of achieving $1 trillion in exports during the current financial year, with exporters and policymakers committing to the goal at a Board of Trade meeting in New Delhi, Union commerce and industry minister Piyush Goyal said…