India has reportedly approached the United States to extend its waiver on Russian oil imports as the Strait of Hormuz continues to see disruptions for 75 days now, straining oil supplies across the world. The US had first cleared the arrangement in March and expanded it later, with the current authorisation set to remain valid…
The move to up the gold import duty comes days after PM Narendra Modi appeals to citizens to avoid unnecessary gold purchases for a year. (AI image) In a bid to keep foreign exchange reserves buffer intact, the government has raised the import duty on gold and silver to 15% from 6%. India is the…
NEW DELHI: Union govt has banned the export of sugar till Sept 30 this year with immediate effect, a move aimed at enhancing domestic availability and preventing any price rise. Earlier, the exports were under a restricted category, under which a licence was required for the outbound shipments. “The export policy of sugar (raw sugar,…
India’s wholesale price inflation accelerated sharply to 8.30 per cent in April from 3.88 per cent in March, driven mainly by a steep rise in fuel, power and crude oil prices amid the ongoing West Asia crisis, according to government data released on Wednesday.Data released by the ministry of commerce and industry showed that inflation…
India’s financial conditions remained under pressure in April as elevated crude oil prices, continued foreign investor outflows and a weakening rupee tightened stress across markets amid the ongoing Middle East conflict, according to a Crisil report.The Crisil Financial Conditions Index (FCI) stood at -1.2 in April compared with -1.4 in March. The report noted that…
Singapore Airlines (SIA) Group on Thursday reported a 57.4 per cent decline in net profit to 1.184 billion Singapore dollars (SGD) for the financial year ended March 2026, impacted by losses from Air India and the absence of a one-time accounting gain recorded in the previous year from the Air India-Vistara merger, PTI reported.The airline…
Yatrigan, fasten your seatbelts for not just your flight but the whole aviation sector is experiencing turbulence!Flight delays, rising ticket prices, and cancelled international routes are no longer breaking news, but the new normal. In May 2026, airlines are grappling with a mix of economic and geopolitical pressures, creating a cycle of challenges that keeps…
The International Monetary Fund (IMF) on Thursday warned that continued disruptions from the Iran war are pushing the global economy closer to an “adverse” scenario marked by slower growth, tighter financial conditions and rising inflation risks, AFP reported.Last month, the IMF’s World Economic Outlook projected global growth at 3.1 per cent for 2026 under its…
Commerce and Industry Minister Piyush Goyal on Thursday called for aligning standards, customs procedures and business practices between India and African nations to accelerate bilateral trade and deepen economic partnerships, PTI reported.Addressing a curtain raiser event for the upcoming India-Africa Business Dialogue (IABD) and Exhibition, Goyal said the African Continental Free Trade Area (AfCFTA), valued…
The government has capped gold imports under the Advance Authorisation scheme at 100 kilograms and tightened compliance and monitoring norms for importers in the gems and jewellery sector, according to a DGFT notification issued on Thursday.The Directorate General of Foreign Trade (DGFT) inserted five new notes under Standard Input Output Norms (SIONS) M-1 to M-8…
