The rupee appreciated by 11 paise to close at 85.68 against the US dollar on Friday, reversing early losses after the Reserve Bank of India (RBI) delivered a surprise 50 basis point repo rate cut and announced a phased 100 basis point reduction in the cash reserve ratio (CRR).The local unit opened weak at 85.91,…
The fallout between Trump and Musk has created significant implications for both these influential figures. The spat between US President Donald Trump and world’s richest person Elon Musk, is getting uglier as each hour of the day passes. From trading harsh barbs to threats, it’s a fight like no other. And it keeps getting worse!…
Travellers flying in and out of Delhi in the upcoming months might see a little turbulence in their plans as Delhi airport will be canceling almost 7.5% of its daily flights. For three months, from June 15 to September 15, the airport will be cancelling 114 daily flights, as the airport operator DIAL begins upgradation…
Amid rising concern over the economic fallout of President Donald Trump’s sweeping tariffs and federal workforce cuts, US employers added 139,000 jobs in May — a slowdown from the previous month, but still a sign of resilience in a jittery economy.Hiring eased from a revised 147,000 in April, while the unemployment rate held steady at…
India’s foreign exchange reserves slipped by $1.24 billion to $691.49 billion in the week ending May 30, according to data released by the Reserve Bank of India on Friday. Despite the decline, the central bank said the reserve buffer remains robust. “At $691.5 billion, the reserves are sufficient to cover 11 months of imports and…
US stock futures edged higher on Friday as markets awaited key labour data, while shares of Tesla rebounded following signs of de-escalation in the high-profile spat between CEO Elon Musk and President Donald Trump.Tesla’s stock jumped 4.2% in premarket trade, clawing back some of the steep 15% loss it suffered on Thursday after Trump threatened…
As political tensions flare, experts warn that Elon Musk’s empire, built on public funding, could face steep fallout. At the intersection of ambition and politics, Elon Musk’s multibillion-dollar space and electric vehicle empire may soon be at the mercy of President Donald Trump. Despite being a vocal critic of government subsidies, Musk’s companies—SpaceX and Tesla—have…
The Reserve Bank of India once again raised red flags over cryptocurrencies, warning that these digital assets could threaten the financial stability and monetary policy.Speaking to reporters after the central bank’s monetary policy announcement on Friday, RBI governor Sanjay Malhotra said, “There is no new development as far as crypto is concerned. A committee of…
India’s automobile sector has welcomed the Reserve Bank of India’s latest rate-cut move, calling it a timely intervention that could improve financing access, strengthen consumer sentiment, and support overall retail growth.On Friday, the RBI reduced the repo rate by 50 basis points to 5.5% and cut the Cash Reserve Ratio (CRR) by 100 basis points…
NEW DELHI: The Reserve Bank of India (RBI) on Friday slashed the repo rate by 50 basis points to 5.5%, marking its third rate cut this year. Alongside, the Cash Reserve Ratio (CRR) has also been reduced by 1% to 3%, injecting Rs 2.5 lakh crore into the banking system. While this move brings relief…
