Business

NEW DELHI: Amid mounting losses, public sector oil firms announced the much-anticipated increase in petrol and diesel prices, raising it by around Rs 3 a litre across metros on Friday, which was lower than expected. Piped kitchen gas prices were, however, left unchanged.Oil company executives did not rule out the possibility of a further increase…

The government on Friday imposed a windfall gains tax of Rs 3 per litre on petrol exports while reducing export levies on diesel and aviation turbine fuel (ATF), as crude oil prices remained elevated amid the ongoing West Asia conflict, PTI reported.The revised rates will come into effect from May 16.According to finance ministry notifications,…

MUMBAI: Rapido, which rivals Uber and Ola in India’s ride-hailing market, has raised a fresh $240 million in funding led by Dutch technology investor Prosus at a valuation of $3 billion, higher than its last valuation of $2.3 billion it attained when Swiggy sold its stake in the startup in a secondary transaction in September…

Wall Street retreated sharply on Friday as a sell-off in artificial intelligence-linked technology stocks and rising concerns over inflation triggered by elevated oil prices pushed major US indices lower from record highs, AP reported.The S&P 500 fell 1.1 per cent after hitting an all-time high a day earlier, while the Dow Jones Industrial Average dropped…

What do the new agreements between UAE and India entail? How will India’s energy security plans get a boost? (AI image) India’s energy security received a major boost on Friday when two important Memorandum of Understanding (MOUs) were signed during PM Narendra Modi’s visit to the UAE on Friday. India imports close to 90% of…

The finance ministry has approved Dubai-based Emirates NBD Bank’s proposal to acquire up to 74 per cent stake in private sector lender RBL Bank, PTI reported citing a regulatory filing on Friday.RBL Bank said Emirates NBD Bank (P.J.S.C) has received a letter from the Department of Financial Services dated May 14, 2026 approving the proposed…

Russian Foreign Minister Sergey Lavrov on Friday said crude oil supplies from Russia to India have increased despite Western sanctions and mounting geopolitical pressure, ANI reported.Speaking on the sidelines of the BRICS Foreign Ministers’ Meeting in New Delhi, Lavrov said the rise in Russian oil exports to India was reflected in publicly available data.“We published…

Tata Steel on Friday reported a more than two-fold jump in consolidated net profit to Rs 2,965 crore for the January-March quarter of FY26, supported by higher revenues from its India operations and improved volumes, PTI reported. The company had posted a consolidated net profit of Rs 1,201 crore in the corresponding quarter of the…

New Delhi: Strengthening its International feed from Punjab, Air India has started a twice-daily service between Delhi and Ludhiana (Halwara) from Friday. The airline expects a very strong connecting traffic from this flight at its Delhi hub to feed its widebodies operating to rest of the world from IGIA. Ditto on the way back. Meanwhile,…

After the hike today, petrol is now retailing at Rs 97.7 per litre in Delhi. (AI image) A hike in petrol and diesel prices has been in the offing for some weeks now, and hence today’s Rs 3 per litre raise comes as no surprise. This is especially true since there is no early resolution…