Business

Representative image (AI-generated) State-run Indian Oil Corp and Rosneft-backed Nayara Energy have increased their purchases of Russian crude in January. This comes even as India’s overall imports from Russia have declined under US sanctions.Reliance Industries, India’s largest buyer over the past year, along with several other refiners, has not received any supplies this month. This…

US President Donald Trump purchased around $100 million in municipal and corporate bonds between mid-November and late December, his latest financial disclosures showed. The investments included up to $2 million in Netflix and Warner Bros Discovery bonds bought shortly after the companies announced their merger.The disclosures, posted Thursday and Friday, showed that most of Trump’s…

WEF economists expect global economic conditions to weaken in 2026 over mounting debt, geopolitics Around 53 per cent of World Economic Forum chief economists who were surveyed expect global economic conditions to weaken in the year ahead, down from 72 per cent in September 2025, even as they acknowledge the relative resilience of the global…

President Donald Trump on Friday said he would like to keep his top economic adviser, Kevin Hassett, at the White House rather than potentially nominate him to replace Jerome Powell as chair of the Federal Reserve. “I actually want to keep you where you are, if you want to know the truth,” Trump said at…

Brazilian President Luiz Inacio Lula da Silva and European Commission President Ursula von der Leyen on Friday celebrated the expected signing of the free trade agreement between the EU and four South American countries the following day at a ceremony that Lula will not attend. This is the first major trade agreement for Mercosur, which…

NEW DELHI: Ambassador of Italy to India, Antonio Bartoli, emphasised the “reliable” partnership between Rome and New Delhi and said it will be further enhanced by the conclusion of the European Union-Indian Free Trade Agreement. Speaking with ANI, Antonio Bartoli said Europe provides many advantages in the current era of “geopolitical turmoil.”“In an era of…

BENGALURU: Wipro reported revenue of $2.6 billion for the Dec quarter, marking a 1.2% sequential increase and a marginal 0.2% rise year on year. In constant currency terms, revenue grew 1.4% sequentially but declined 1.2% compared with the year-ago period. Wipro CEO Srini Pallia said that excluding the Harman DTS acquisition, revenue grew 0.6% sequentially…

MUMBAI: RBI’s forex reserves rose $392 million in the week ended Jan 9, lifted by a $1.6 billion jump in gold value that offset a $1.1 billion fall in foreign currency assets. Total reserves climbed to $687.2 billion, reversing part of the previous week’s $9.8 billion decline, RBI data released Friday showed.Foreign currency assets, the…

Mohan Lal Mittal with PM Modi MUMBAI: Mohan Lal Mittal, father of ArcelorMittal chairman Lakshmi Mittal and founder of the Mittal family’s steel empire, died Thursday evening in London. He was 99, just a few months short of his 100th birthday. Lakshmi Mittal said, “My father was an extraordinary man, whose strong religious belief and…

MUMBAI: RBI is stepping up efforts to promote internationalisation of the Indian rupee by amending foreign trade rules to allow exporters more time to realise export proceeds when transactions are invoiced and settled in rupees, signalling a clear policy preference for Indian rupee-denominated trade.Under the revised 2026 regulations, exporters invoicing in foreign currency will continue…