Asia’s richest man Mukesh Ambani has once again chosen to draw no salary from Reliance Industries, the oil-to-telecom-to-retail giant he heads, for the fifth consecutive year. Instead, dividend payouts remain his primary source of income, according to a PTI report.According to the latest annual report of Reliance Industries, Ambani, 68, received ‘nil’ salary, allowances, perquisites,…
Shares of Intel tumbled down on Thursday after US President Donald Trump called for the company’s chief executive to resign, citing alleged conflicts of interest involving ties to China.The INTC was trading at $19.77, down 0.6 points or 3.1% at 10:53 PM IST.“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump wrote…
File photo: Ex-Niti Aayog CEO Amitabh Kant (Picture credit: PTI) Former G20 Sherpa and ex-Niti Aayog CEO Amitabh Kant has called the steep hike in US tariffs on Indian goods a “once in a generation opportunity” for India to push forward with long-pending economic reforms.Reacting to US President Donald Trump’s decision to double duties on…
Bank of England (Picture credit: AP) The Bank of England on Thursday trimmed its key interest rate by 25 basis points to 4 per cent, marking the fifth reduction since August 2024, as it seeks to support Britain’s slowing economy amid concerns over rising US tariffs and domestic tax hikes.The latest cut brings borrowing costs…
NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
FICCI president Harsha Vardhan Agarwal on Thursday called for urgent and bold economic reforms to strengthen India’s industrial base and services sector, In response to the US imposing an additional 25% import tariff on Indian goods.The latest move from Washington takes the total tariff burden on Indian imports to 50%, sparking concerns across domestic export-facing…
The Chamber of Trade and Industry (CTI) has voiced concerns over the US’s latest decision to impose an additional 25% tariff on Indian goods, taking the total duty to 50%. The body warned of serious consequences for India’s export driven businesses.CTI chairman Brijesh Goyal wrote to PM Narendra Modi, calling for immediate and strategic action,…
India’s merchandise imports are set to grow at more than double the pace of exports in the current financial year, according to the Reserve Bank of India’s latest economic outlook.The central bank released the Survey of Professional Forecasters on Macroeconomic Indicators (95th Round) on Wednesday.According to the apex bank’s findings, “Merchandise exports and imports are…
Fuel supply from Nayara Energy’s Vadinar refinery has been severely disrupted after shipowners, wary of European Union sanctions, stopped lifting products from the facility, forcing the Rosneft-backed company to seek government help to arrange alternate shipping support.Nayara, which used vessels to supply petrol and diesel to consumption hubs along India’s west coast and as far…
Stocks rose on Wall Street on Thursday, brushing aside fresh worries over US President Donald Trump’s latest round of tariffs that kicked in on dozens of countries. The S&P 500 gained 0.5% in early trading, hovering just below its all-time high set last month while Dow gained 200 points and Nasdaq climbed 1%. DJIA was…
