Warren Buffett’s Berkshire Hathaway is nearing a deal to acquire Occidental Petroleum’s petrochemical business for about $10 billion, a person familiar with the matter said. It would be Berkshire’s largest deal since its acquisition of Alleghany in 2022 for $13.7 billion. Representatives for Occidental and Berkshire didn’t reply to messages seeking comment. Wall Street Journal…
MUMBAI: Reserve Bank of India unveiled on Wednesday its most comprehensive reforms in over a decade, aimed at countering US-driven headwinds and expanding credit to companies, while deepening capital market activity. Banks can now finance mergers and acquisitions, and IPOs more freely, while limits on loans against shares and listed debt securities have been raised.Central…
Piyush Goyal (File photo) NEW DELHI: As companies from the EFTA Bloc — Switzerland, Norway, Iceland and Liechtenstein — promised investment into India as part of the $100 billion commitment under the trade deal, Swiss state secretary for economic affairs Helene Budliger Artieda called for the need for a bilateral investment treaty(BIT), while Liechtenstein sought…
The Union Cabinet has approved the Mission for Aatmanirbharta in Pulses, a six-year programme aimed at boosting domestic pulse production and achieving self-sufficiency by 2030-31, according to a government statement. The Mission will be implemented from 2025-26 to 2030-31 with a financial outlay of Rs 11,440 crore.India is the world’s largest producer and consumer of…
IMF economist Shekhar Aiyar has been appointed as the new Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER), the think tank announced on Wednesday. He is set to take charge in November, news agency PTI reported.Aiyar currently serves as Assistant Director in the Research Department of the International…
NEW DELHI: The Oberoi Group Wednesday announced the launch of “Asmi by Oberoi” —wellness offering that “reflects the brand’s commitment to creating experiences.” Derived from timeless Indian wisdom and supported by contemporary practice, the group says ASMI is a “lifestyle framework designed to strengthen alignment and vitality across five pillars: movement, nutrition, bodywork, breath work,…
Donald Trump and Lisa Cook (Images/Agencies) The US Supreme Court on Wednesday barred President Donald Trump from immediately removing Federal Reserve Governor Lisa Cook, ensuring she will remain in her post until the court hears arguments on the case in January 2026.In a brief order, the court said they had “deferred” the administration’s request, leaving…
The US private sector lost 32,000 jobs in September, according to payroll processor ADP, defying analysts’ expectations of employment growth. The biggest losses came in leisure and hospitality, professional services, and financial activities, AFP reported.Hiring also contracted in trade, transportation and utilities, along with manufacturing, the report showed.“Despite the strong economic growth we saw in…
Chief Economic Advisor V Anantha Nageswaran has emphasised the need for long-term savings to ensure financial security as India’s elderly population expands in the coming decades. Speaking at the ‘NPS Diwas Conference on Inclusive Pensions, Innovative Solutions: Strengthening Retirement Security in India,’ he said as quoted ANI, “We have enormous responsibility towards the population at…
The US manufacturing sector contracted for the seventh consecutive month in September, although the pace of decline eased slightly as production and demand showed marginal improvement.The Institute for Supply Management’s (ISM) manufacturing index rose to 49.1 in September from 48.7 in August. The figure remained below the 50-point mark that separates expansion from contraction, AFP…
