Oil prices jumped over 1% on Wednesday as tensions in the Middle East continued to intensify after Iran launched missiles towards Kuwait and Bahrain. At the same time, peace efforts between Tehran and Washington yielded no breakthrough and the Strait of Hormuz disruption continued for 96th day.Brent crude futures gained $1.05, or 1.09%, to reach…
NEW DELHI: Nearly two decades after a working group was formed to compile producer price index (PPI), govt Tuesday finally laid out a road map for its introduction. On June 15, govt will unveil the revised wholesale price index, with 2022-23 base, and along with it will come PPI.In five years, govt intends to phase…
MUMBAI/NEW DELHI: The West Asia war-induced challenging fund-raising market conditions notwithstanding, some of the leading unlisted companies are moving ahead with plans to go public.On Tuesday, Prism, the parent of hospitality firm Oyo, got Sebi nod for its IPO that could be worth up to Rs 6,650 crore. Earlier in the day, global beverage giant…
NEW DELHI: Soon after the overhaul of index of industrial production (IIP) for the formal sector, govt machinery is preparing to enter the statistical blind spot of the vast informal economy. The statistics ministry is finalising plans to launch an entirely new index designed to measure monthly industrial production, specifically for the country’s vast informal…
NEW DELHI: India and the UK on Tuesday agreed to resolve the gaps so that the bilateral trade agreement can be implemented at the earliest.Commerce and industry minister Piyush Goyal held talks with UK secretary of state for business and trade Peter Kyle on addressing the ticklish issues as India has concerns over the steel…
MUMBAI: On Tuesday, India slipped to the seventh spot in terms of stock market valuation as South Korea marched to sixth. In the last two years, India has slipped three places in the rankings after Hong Kong, Taiwan and South Korea overtook it, historical data showed.Nearly unabated foreign fund selling since Sept 2024 (when the…
MUMBAI: Billionaire banker-entrepreneur Uday Kotak on Tuesday prodded India Inc to invest for India’s future. Kotak’s warning came as the country is being looked at as a laggard in AI technology investments. This is the primary reason that India’s stock market has turned from being one of the most favoured among emerging markets to one…
MUMBAI: The Wealth Co, the assets management arm of domestic financial services group Pantomath, on Tuesday signed an agreement with NSE to offer Electronic Gold Receipts (EGR), a product that the bourse launched recently. EGRs are exchange-traded products backed by physical gold. Source link
MUMBAI: Godrej Industries Group has launched its wealth management business, Godrej Wealth, through subsidiary Godrej Investments, with a target to build assets under management of Rs 1,00,000 crore by 2031 and expand to 35 locations over the next five years.The business will operate alongside Godrej Capital to form the group’s financial services arm, as it…
MUMBAI: Vis Raghavan, head of banking and executive vice chair of Citi, was in India for its annual India conference, which unites all businesses and 1,000 corporates. It is part of a global push to bring buy/sell side participants, policymakers, and decision-makers onto one platform. Raghavan is credited as a seasoned investment banker and dealmaker…
