US stock market: Wall Street at record high after Trump says ‘Hormuz is open’; Dow jumps over 800 points, Nasdaq up 1.5%

Wall Street benchmarks closed at record highs on Friday, as easing geopolitical tensions in West Asia fuelled a broad risk rally across global markets, sending equities higher and oil lower.The S&P 500 and Nasdaq Composite notched their third straight record closes, while the Dow Jones Industrial Average posted its strongest finish since late February. Gains…

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With three new units, UltraTech to take capacity past 200 MTPA

MUMBAI: UltraTech Cement will cross 200 million tonnes of capacity after commissioning three grinding units totalling 8.7 million tonnes on Friday, cementing the Aditya Birla Group company’s position as the world’s largest cement producer outside China, with capacity nearly double that of the United States and exceeding the whole of the European Union. The milestone…

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Indian refiners purchase Iranian oil, pay in yuan

New Delhi: Using the one-month window provided by a temporary US sanctions waiver, Indian refiners purchased Iranian oil and settled payments in Chinese yuan, people aware of the development said on Friday.Iran insists on payment in Chinese yuan for oil to bypass US-led financial sanctions that restrict its access to the dollar-dominated global banking system,…

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Amid disputes, Singh skips Tata trust meeting

MUMBAI: Vijay Singh, a former Indian defence secretary whose eligibility as a trustee has come under legal challenge, absented himself from the board meeting of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution on Friday, the latest sign of an intensifying governance dispute within India’s most powerful philanthropic network.The challenge was brought by Mehli Mistry,…

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