Business

The directive specifically addressed spending on cigarettes, alcohol and receptions. (AI image) China has instructed government officials nationwide to reduce unnecessary expenditure on travel, meals and office facilities, signalling President Xi Jinping‘s commitment to fiscal prudence amidst challenging economic conditions affecting government finances.The regulations reinforce Xi’s initiative for officials to reduce expenditure, particularly as declining…

US stock marketstoday: US stock markets opened sharply lower on Monday after Moody’s downgraded the country’s sovereign credit rating, citing concerns over escalating federal debt and long-term fiscal slippage.The downgrade rattled investor confidence, triggering broad-based selling across equities and lifting market volatility.At the opening bell, the Dow Jones Industrial Average dropped 288.77 points or 0.68…

State Bank of India (SBI) reported a record profit of around USD 9.2 billion for the fiscal year ending March 2025, making it only the third Indian company—after Reliance Industries and ONGC—to feature in the Global Top 100 ranked by net profit. Despite this remarkable achievement, much of SBI’s profits are generated by a relatively…

Gold rate today: Gold prices soared by Rs 580 to reach Rs 97,030 per 10 grams in the national capital on Monday, supported by strong cues from international markets, according to the All India Sarafa Association.On Friday, gold of 99.9% purity had closed at Rs 96,450 per 10 grams.Similarly, gold of 99.5% purity rose by…

Pirojsha Godrej (File photo; credit- Godrej website) NEW DELHI: Godrej Properties, one of India’s prominent real estate developers, acquired 14 land parcels across major cities during the 2024–25 fiscal year, with a total development potential of approximately Rs 26,500 crore.These acquisitions span key urban markets, including the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata,…

After a quiet start to 2025, the initial public offering (IPO) market is showing renewed activity, with six main-board companies gearing up to launch their share sales this month to collectively raise more than Rs 11,000 crore, investment banking sources said on Monday.Among the firms preparing to go public is Schloss Bangalore Ltd, owner of…