The Department of Posts on Tuesday introduced three premium delivery services with guaranteed 24-hour and 48-hour timelines for urgent and time-sensitive consignments, news agency PTI reported.The services — 24 Speed Post, 24 Speed Post Parcel, and 48 Speed Post — were introduced by communications minister Jyotiraditya Scindia.In the initial phase, the services will be available…
State-owned oil marketing companies have started asking petrol pump dealers to make advance payments for supplies of petrol and diesel, as refiners grapple with mounting revenue losses from retail fuel sales, according to a Reuters report.Nearly 90% of India’s about 1,01,470 fuel stations are linked to public sector refiners and retailers – Indian Oil Corporation,…
Retail diesel prices in the United States soared past $5 a gallon, reaching a milestone seen only once before, according to GasBuddy, the fuel markets tracker. Economists warn that the surge could slow global economic activity. Diesel is essential for freight and manufacturing, and rising fuel costs are likely to push up the price of…
The ongoing Middle East war has drained Dubai of much of its travel appeal. Emirates, the world’s largest international airline, is operating some flights to Dubai almost empty, as travellers avoid the Persian Gulf. Flights from the US and continental Europe have been hit hardest, with occupancy on several routes dropping sharply, as thecarrier faces…
NEW DELHI: Exporters on Monday sought a moratorium on loan repayment for six months, along with higher credit limits and longer tenure, amid indications that govt and RBI are working on a package to help offset the impact of the West Asia conflict, which may take a toll on exports during March.During a meeting with…
MUMBAI: Short covering, especially during the closing hours of Monday’s session, led to a smart reversal in sensex, which closed 939 points up at 75,503 points. The development came despite strong selling by foreign funds that offloaded shares worth Rs 9,366 crore, the second-highest singlesession net outflow figure so far this year.After days of sharp…
NEW DELHI: Despite Indian exports seeing good growth in recent months, India’s trade deficit with China has topped the $100 billion mark for the first time, with still a month left for the fiscal year to close.Latest data released by the commerce department estimated the trade deficit during April-Feb at $102 billion, as against $91.1…
MUMBAI: Ahead of the onset of peak summers, a brisk business season for consumer durables companies, some air conditioner makers are feeling the heat of the West Asia conflict as restricted supplies of LPG and shortage of petrochemicals are beginning to hit production, industry executives said.LPG is used in processes such as brazing of copper…
MUMBAI: The rupee closed at 92.42/$, four paise firmer than 92.46, yet close to last week’s 92.48 record low. Losses stayed capped amid likely RBI support via state-run banks. Gulf tensions kept oil prices high, while US efforts to rally allies to secure Hormuz shipping lanes have made little headway. Brent crude rose over 1%…
MUMBAI: Shares of IDBI Bank fell as much as 16.5% on Monday to Rs 77. The decline wiped out over Rs 16,000 crore in market capitalisation after reports said govt may shelve bids for a majority stake in the lender because offers were below its minimum price expectations. Govt has been attempting to sell its…