Container freight rates are expected to remain subdued for the rest of FY26 as uncertainty in global trade continues, driven by US President Donald Trump’s unpredictable tariff policies, industry experts said. According to ET, exporters rushed shipments to the US ahead of the August 27 deadline for a steep 50% tariff on Indian goods, targeting…
ITR filing FY 2024-25: The tax authorities have identified many instances of false exemption claims submitted by taxpayers. (AI image) ITR filing FY 2024-25: The Income Tax Department is cracking down on false tax exemptions being claimed by people in their Income Tax Returns. Most of these exemptions, under the old income tax regime, are…
Public sector banks (PSBs) have registered their strongest advance growth since 2010, surpassing private lenders for the first time in over a decade. According to a Systematix Group report cited by news agency ANI, PSBs reported 12.2% year-on-year growth in advances in FY25, compared to 9.5% by private sector banks (PVBs).The report noted that PSBs…
BENGALURU: BharatGen, India’s first government-backed multimodal sovereign AI initiative, was awarded Rs 988.6 crore in funding by the ministry of electronics and information technology (MeitY). The announcement was made by Union IT minister Ashwini Vaishnaw in New Delhi on Friday. The allocation makes BharatGen the largest beneficiary of the Rs 1,500 crore IndiaAI Mission 2025,…
RBI governor Sanjay Malhotra (File photo) MUMBAI: RBI governor Sanjay Malhotra on Thursday urged the Clearing Corporation of India (CCIL) to expand beyond dollar-rupee trades by creating settlement infrastructure for other currency pairs, as part of efforts to deepen markets and internationalise the rupee.“Given the broader objective of internationalisation of INR, CCIL could explore the…
Piyush Goyal (File photo) DUBAI: After the UAE, government is looking at trade pacts with individual countries in West Asia, instead of the earlier plan for an agreement with the Gulf Cooperation Council, commerce & industry minister Piyush Goyal said Friday.“The agreement with the UAE has been the most successful trade agreement so far. The…
Adani Group companies gained over Rs 66,000 crore in market cap in a single session on Friday, fuelled by a buying frenzy following Sebi’s clean chit in the Hindenburg case. The gain marked the best day for the Gautam Adani-led group’s stocks since May, Bloomberg reported.The regulator’s order, which dismissed allegations of stock manipulation and…
NEW DELHI: Japanese credit rating agency Rating and Investment Information (R&I) on Friday upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’ and retained the “stable” outlook, citing growth prospects, progress on fiscal consolidation, and reforms undertaken by govt. This is the third upgrade by a sovereign credit rating agency this year, following S&P’s…
Trump sings order to increase H1-B visa application fees US President Donald Trump has signed a new proclamation on Friday (US time) introducing a $100,000 annual fee for H-1B visa applications, along with other changes to the skilled foreign worker programme, which has been under scrutiny for years.Originally designed to attract exceptional foreign talent for…
Adani Group firms saw their combined market value surge by more than Rs 69,000 crore during Friday’s trading session. Gautam Adani-led Adani Group stocks rallied strongly in trade on Friday after SEBI cleared the companies of Hindenburg-related allegations. The regulatory body’s ruling, which rejected claims of share price manipulation and improper related-party dealings, boosted investor…
