Earlier this year, Reliance Jio and Airtel sealed deals to distribute Starlink’s satellite internet services. (AI image) Elon Musk-led Starlink has been issued a Letter of Intent by the Indian government for satcom services. SpaceX, established in 2002 by Elon Musk, the world’s wealthiest individual, has created Starlink, a satellite-based internet service. This American aerospace…
NEW DELHI: Business-to-business ride services company Routematic has raised $40 million in a funding round led by venture capital firm Fullerton Carbon Action Fund and Shift4Good, senior company officials said on Wednesday.The company plans to use the fund to strengthen its business matrix and expedite its journey towards public listing, Founder and CEO Sriram Kannan…
India, the world’s third-largest oil importer, is poised to save up to Rs 1.8 lakh crore on its crude oil and liquefied natural gas (LNG) import bill if the current trend of declining global energy prices persists, according to rating agency Icra.In the fiscal year ending March 31, 2025, India spent $242.4 billion on crude…
US stock markets opened modestly higher on Wednesday, with investors treading cautiously ahead of a critical Federal Reserve interest rate decision and renewed trade negotiations between the US and China. At 9:45 a.m. GMT-4, the Dow Jones Industrial Average (DJIA) rose 238 points or 0.58% to 41,067, while the S&P 500 gained 20.52 points or…
HDFC Bank has announced a reduction in its Marginal Cost of Funds-based Lending Rates (MCLR), offering relief to borrowers whose loans are linked to this benchmark. The bank has lowered the MCLR by up to 15 basis points (bps) on select loan tenures.A basis point is one-hundredth of a percentage point, so a 15 bps…
Global stock markets showed mixed performance on Wednesday as investors awaited the US Federal Reserve’s policy announcement, widely expected to leave interest rates unchanged, despite renewed pressure from former President Donald Trump to cut borrowing costs.In Europe, Germany’s DAX was nearly flat at 23,250.56, while France’s CAC 40 slipped 0.5% to 7,661.64. London’s FTSE 100…
Chinese exporters are increasingly utilizing “origin washing” tactics to circumvent hefty US tariffs, according to a report by Radio Free Asia (RFA). These tactics are being promoted via Chinese social media platforms, offering methods to bypass tariffs by re-exporting goods or misrepresenting manufacturing locations.Promotional videos on platforms like Xiaohongshu (RedNote) and Douyin (the Chinese version…
The Indian textile industry has welcomed the India-UK Free Trade Agreement (FTA), recognizing it as a significant step towards increasing India’s presence in the UK market. Industry leaders believe this agreement will unlock new opportunities for exporters, boosting trade, employment, and global competitiveness.Santosh Katariya, President of the Clothing Manufacturers Association of India (CMAI), highlighted the…
Operation Sindoor has had minimal impact on Indian stock markets. (AI image) Operation Sindoorimpact: Market reactions to Indo-Pak military tensions have historically been measured. During past confrontations between the two nations since 1999, the Nifty 50 has typically experienced modest declines of approximately 5%, followed by robust recoveries yielding double-digit gains within six months.Despite border…
Operation Sindoor impact: The defence sector stocks witnessed significant upticks. (AI image) Operation Sindoor: Defence stocks rallied on Wednesday, with key companies like Mazagon Dock Shipbuilders recording gains of up to 4%, following the Indian Armed Forces‘ Operation Sindoor on May 7. The military action was directed at terrorist facilities in Pakistan and Pakistan-occupied Jammu…
