MUMBAI: The rupee recovered sharply on Friday to close at 85.37 against the dollar after touching an intraday low of 85.85, helped by dollar sales from public sector banks acting on behalf of the RBI.The domestic currency closed at 85.71 in the previous session.Despite the late recovery, the rupee posted its steepest weekly decline in…
Globally, central banks’ collective gold holdings grew from 26,000 tonnes to 32,000 tonnes during the 15-year period ending 2024. (AI image) RBI has been on a gold buying spree, but it’s not alone! Several countries besides India are increasing their gold holdings significantly. Among countries that witnessed the most substantial increase in gold’s proportion of…
India’s foreign exchange reserves broke their 8 week long rising streak, falling $2.06 billion in the week ending 2 May, as per the latest data from the Reserve Bank of India (RBI).The fall brings India’s total forex reserves down to $686.06 billion, after they had surged $1.98 billion to $688.13 billion in the week ending…
MUMBAI: Dalal Street witnessed heightened volatility on Friday, with the sensex closing 880 points, or 1.1% down at 79,454 points as armed conflict between India and Pakistan escalated on Thursday night.Market players also pointed out that foreign funds turned net sellers in Indian stocks for the first time in more than three weeks. On the…
Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) NEW DELHI: Finance minister Nirmala Sitharaman on Friday asked all banks to remain fully alert and prepared to deal with any eventuality or crisis. She emphasised the need to ensure uninterrupted access to banking and…
Image used for representative purposes MUMBAI: The suspension of IPL – India’s most heavily insured sporting event – has brought renewed scrutiny to the utility and limits of event insurance amid geopolitical tensions. Howden, the insurance broker to the BCCI, acknowledged the suspension and said it would wait for an official decision on cancellation or…
NEW DELHI: Turkiye and Azerbaijan, hot favourites of holidaymakers, are fast falling out of favour after the two countries’ steadfast support to Pakistan during Operation Sindoor and travel companies have stopped new bookings.Stating that it has paused all new travel offerings to Azerbaijan, Uzbekistan, and Turkiye, Cox & Kings said it was “aligned with the…
CHENNAI: Banks and oil companies on Friday assured consumers that there was no disruption in their services and ATMs and fuel pumps are well stocked.“IndianOilhas ample fuel stocks across the country and our supply lines are operating smoothly. There is no need for panic buying – fuel and LPG is readily available at all our…
Bank of India reported a robust 82% year-on-year increase in its net profit for the January-March 2025 quarter, reaching Rs 2,626 crore. This surge was primarily driven by significant treasury gains and a substantial rise in recoveries from written-off accounts.The bank’s core net interest income (NII) grew by 2% to Rs 6,063 crore, while other…
BENGALURU: Food and grocery delivery platform Swiggy’s revenue from operations rose 35% year-on-year to Rs 15,227 crore, driven by double-digit growth in food delivery and a doubling of Instamart’s order value.Its net loss widened to Rs 3,117 crore for FY25, from Rs 2,350 crore in the corresponding period last year, as the company sharply ramped…
