Oil Prices Climb and Stocks Fall After U.S. Strikes Iranian Drones
Oil prices jumped after the U.S. said it shot down four Iranian attack drones, casting doubt once again on the prospects for a peace deal. Source link
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Three months of Hormuz chaos: Oil prices jump over 3% amid US-Iran standoff
Oil prices inched higher on Thursday as hopes of possible agreement between the US and Iran were offset by Iran’s fresh strikes on US bases. Around 9:30, WTI Crude was trading at $92.03 per barrel, up 3.78%. At the same time, Brent Crude stood at $97.74, higher by 3.66% as situation in the Middle East…
2025-26 foodgrain production estimated at record 376 MT
NEW DELHI: India is estimated to have produced a record 376 million tonnes (MT) of foodgrains in 2025-26 crop year, which is 5.3% higher than the 357 MT reported in the previous year, said agriculture ministry while releasing latest estimates of crop production on Wednesday.For 2026-27 crop year, ministry has been gearing up to minimise…
What Plunging Pork Prices Say About China’s Economy
A key measure of inflation in China, they hit a 16-year low, driven by anemic consumer spending and an oversupply of hogs. Source link
SBI chief flags inflation, growth worries
MUMBAI: State Bank of India chairman Challa Sreenivasulu Setty has warned that the ongoing conflict in the Gulf region could weigh on growth and rekindle inflationary pressures, even as India’s macroeconomic fundamentals remain resilient.In his message to shareholders in the bank’s annual report, Setty said: “The financial year gone by unfolded against a backdrop of…
Hyundai to hike car prices from June 1
NEW DELHI: Hyundai Motor India will increase prices across its vehicle lineup by up to Rs 12,800 from June 1. The company said the increase will vary depending on the model and variant. Hyundai said the hike was being implemented due to rising input costs, higher commodity prices and increased operational expenses. The company added…
Air India, AI Express, IndiGo to slash 250 domestic flights a day
NEW DELHI: Air travellers should brace for higher domestic fares and fewer flights this summer.Air India, AI Express and IndiGo will together remove about 250 domestic flights per day from June to August as operating costs spiral on rising jet fuel prices and a weakening rupee amid slowing demand.Airlines say discretionary travel is among the…
Gaming companies face Rs 2.5 lakh crore hit as SC upholds GST
NEW DELHI: In a big setback to online gaming firms facing show-cause notices for GST evasion of around Rs 2.5 lakh crore (with penalty), Supreme Court Wednesday upheld levy of 28% tax on the full face value of online gaming bets and validated rules under CGST for determining valuation of taxable supplies for lotteries, betting,…
Condé Nast Pays Over $400,000 to 3 Journalists Fired Over Protest
The former workers were among a group of employees who confronted the company’s head of human resources about layoffs last fall. Source link
Court Orders Customs Chief to Address Compliance on Refunding Tariffs
The surprising demand to appear at a hearing suggested new concern about the Trump administration’s efforts to repay the full $166 billion owed from illegally imposed tariffs. Source link