Minimum balance penalty (representative image) NEW DELHI: Banks collected nearly Rs 7,100 crore as penalties from customers for failing to maintain minimum average balance (MAB) in their accounts in financial year 2025-26, up from around Rs 6,800 crore in the preceding year, government has told Parliament. Nearly 70% of the charges, adding up to Rs…
File photo: Union minister of commerce and industry Piyush Goyal NEW DELHI: Exporters are worried due to uncertainty of orders, higher logistics costs, liquidity issues and possible disruption of raw material supply chain due to a prolonged crisis in West Asia, with other shipping channel (Bab el-Mandeb) also affected.The issue briefly came up for discussion…
If the security situation worsens and Red Sea supplies are disrupted during August, refiners will have to replace those volumes with crude sourced from elsewhere. India’s crude oil imports from Russia may even touch a new record high of 3 million barrels per day if the shipment disruptions through Strait of Hormuz and even Red…
After a dramatic rally in the previous session, oil prices retreated on Thursday as crude continued to move out of the Middle East even as the US-Iran war widened beyond its primary battlefronts.WTI crude slipped 0.54% to $84.00 a barrel, while Brent crude fell 0.85% to $89.97 a barrel.The decline followed a sharp rebound on…
NEW DELHI: Smartphone exports rose 23.4% to $9.8 billion during the June quarter, with the segment accounting for nearly two-thirds of electronic shipments of about $15.2 billion during April-June.This was the highest-ever first-quarter smartphone exports by value and was driven by strong iPhone shipments to the US, reinforcing the country’s emergence as a key global…
Microsoft’s push into artificial intelligence is beginning to show stronger returns, with the company reporting a sharp rise in cloud revenue and a growing base of paid AI users in its latest quarterly results.The technology giant posted revenue of $90 billion, or $4.81 per share, for the April-June quarter, an 18% increase from the year-ago…
BENGALURU: Indian Premier League‘s business value rose 11.4% from a year earlier to $20.6 billion in 2026, helped by growing revenues, digital viewership and record franchise transactions, according to a study by investment bank Houlihan Lokey.It also pegged Royal Challengers Bengaluru’s brand value at $312 million, 16% higher than the previous year and making it…
Asian equities showed signs of stabilising on Thursday, but investors remained cautious after a turbulent week marked by a sharp AI-driven market sell-off, uncertainty over the US interest rate outlook and renewed geopolitical tensions that briefly sent oil prices soaring. Taiwan’s benchmark climbed 666.47 points to 40,705.65, up 1.66%, while South Korea’s Kospi gained 201.22…
Samsung Q2 results: South Korean technology giant Samsung Electronics has posted its highest-ever quarterly operating profit as the artificial intelligence boom continues to fuel demand for memory chips, especially those used in AI servers.Samsung reported an operating profit of 89.5 trillion won ($62 billion) for the April-June period, marking a more than 19-fold jump from…
BENGALURU: GenAI is poised to transform India’s labour market over the next decade, redefine job roles and accelerate the shift towards higher-value work, according to a new Goldman Sachs report.The report estimates that GenAI could automate 9-17% of tasks currently performed by India’s non-agricultural workforce. However 8-12% of jobs face a meaningful risk of substitution,…
