The average long-term mortgage rate in the US fell to 6.3% this week, returning to its lowest level in about a year, mortgage buyer Freddie Mac said on Thursday. The rate on a 30-year fixed loan edged down from 6.34% last week, while a year ago it averaged 6.32%.Rates on 15-year fixed mortgages, often used…
Once dominated by jewellery, coins and bars, gold investment in India is rapidly moving into the digital and market-linked space, offering investors high returns without the need to hold physical gold.With the festival season of Dhanteras and Diwali approaching, investors looking for pure returns rather than physical ownership now have multiple options, including digital gold,…
The Reserve Bank of India (RBI) on Thursday announced a reshuffle of portfolios among its four deputy governors, redistributing oversight of its 32 departments.Shirish Chandra Murmu, who assumed charge as deputy governor following the retirement of M Rajeshwar Rao, has been assigned key divisions, including the departments of communication, government and bank accounts, regulation, and…
MUMBAI: UK prime minister Keir Starmer, on his maiden visit to Mumbai as head of state, sought to reposition his country as a key economic ally, showcase the UK’s renewed economic confidence, and call for deeper fintech and technology linkages.Starmer said that the India-UK trade deal was a huge win for both nations and a…
Wall Street took a breather on Thursday, with US stocks making only modest moves near record levels while gold edged higher and Treasury yields remained largely unchanged. The S&P 500 inched up 0.1%, coming off its latest all-time high and marking eight gains in the past nine sessions. The Dow Jones Industrial Average rose 21…
The PPF investment limit was last hiked in 2014, when the government increased the maximum annual contribution from Rs 1 lakh to Rs 1.5 lakh. The Public Provident Fund (PPF) is a popular and safe investment that gives assured and tax-free returns. At 7.1% tax-free, it offers higher returns than what other fixed income options…
The all-India House Price Index (HPI), compiled by the Reserve Bank of India (RBI) using transaction-level data from 18 major cities, rose 3.6 per cent year-on-year in the first quarter of the current fiscal, the central bank said on Thursday.The RBI said the growth moderated compared with the 7.6 per cent increase in the same…
The Indian government is signalling a warmer reception for Chinese investment in electronics manufacturing, provided companies commit to technology transfer and local workforce training, officials said.This could improve the chances of Chinese joint ventures clearing the stricter scrutiny currently applied to investments from neighbouring countries, a ministry of electronics and IT (MeitY) official said.“The ECMS…
TCS Q2 results FY 2025-26 TCS Q2 results: Tata Consultancy Services (TCS), India’s largest IT services firm, on Thursday reported a net profit of Rs 12,075 crore for the quarter ended September, 2025.The net profit saw an increase of 1.4% compared to Rs 11,909 crore in the previous year. The profit after tax (PAT) fell…
The government has moved a step closer to boosting India’s self-reliance in rare earth magnets, with a key panel approving a Rs 7,300 crore scheme to support local manufacturing. These magnets are essential for electric vehicles, wind turbines and a range of consumer electronics.The expenditure finance committee (EFC), which functions under the finance ministry, cleared…
