America’s widening income divide has become more visible after the sharp rise in fuel prices linked to the Iran war, with lower-income households forced to cut back on driving even as their spending on gasoline increased, according to a new Federal Reserve Bank of New York study cited by AP.The report showed that while wealthier…
Bengaluru: Paytm parent One97 Communications reported its first full year of profitability since listing, even as the fintech company continued to deal with the fallout of regulatory action on Paytm Payments Bank and pivoted further towards merchant payments, lending distribution and artificial intelligence-led automation.The company reported total income of Rs 9,291 crore for FY26, up…
Prime Minister Narendra Modi with Vietnam President To Lam India and Vietnam on Wednesday agreed to boost their bilateral relationship, aiming to elevate ties to an “Enhanced Comprehensive Strategic Partnership” while outlining an ambitious roadmap for trade, defence and technology cooperation.The decision followed talks between Prime Minister Narendra Modi and Vietnam president To Lam, with…
Bengaluru: Tier-2 cities and rising demand for white spirits such as vodka and gin are emerging as key growth drivers for India’s alco-beverage industry, according to Radico Khaitan managing director Abhishek Khaitan, as changing consumer preferences reshape drinking patterns beyond metros.The maker of Magic Moments vodka and Rampur Indian single malt reported its highest-ever annual…
Bengaluru: Meesho’s total income rose 44.4% year-on-year to Rs 3,646.9 crore in the March quarter, while the ecommerce company continued to narrow losses and scale its artificial intelligence-led operations across engineering, logistics and advertising monetisation.The SoftBank-backed company reported a loss for the period of Rs 160 crore in Q4 FY26, compared with a loss of…
US stock markets surged on Wednesday while oil prices plunged sharply as investors bet on a possible breakthrough in US-Iran negotiations that could reopen the Strait of Hormuz and restore global crude supplies, AP reported.The S&P 500 climbed 0.8 per cent and headed towards another record close. The Dow Jones Industrial Average rose 487 points,…
Piyush Goyal and Yeo Han-Koo (File photo) India and South Korea are likely to hold negotiations on May 25 to review their Comprehensive Economic Partnership Agreement (CEPA), amid India’s push to address concerns over the widening trade deficit with Seoul, PTI reported.The CEPA between the two countries came into force in January 2010. “The officials…
Benchmark equity indices rallied sharply on Wednesday as a steep fall in crude oil prices and optimism around a possible US-Iran agreement boosted investor sentiment, PTI reported.The 30-share BSE Sensex surged 940.73 points, or 1.22 per cent, to close at 77,958.52. During the session, it climbed as much as 1,004.99 points to hit an intraday…
Markets regulator Sebi has introduced a new framework to classify stock market benchmarks as “significant indices” if mutual fund schemes tracking them have a daily average cumulative assets under management (AUM) of more than Rs 20,000 crore for each of the preceding six months, PTI reported.The move is aimed at strengthening transparency, governance and accountability…
Petrol (Gasoline) prices in the United States have surged sharply since the start of the Iran war, with the average price of regular fuel climbing to $4.48 per gallon, up 31 cents in the past week alone, AP reported citing AAA.Fuel prices are now about 50 per cent higher than before the conflict began, driven…