India’s dollar stockpile had its biggest weekly gain in over three years, bolstered by RBI’s currency swap operations last month. Foreign exchange reserves grew by $15.3 billion to nearly $654 billion in the week to March 7, data released on Thursday showed. That is the highest weekly gain since Aug 27, 2021, according to Bloomberg data. This comes after the …
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NEW DELHI: Kerala had the highest inflation rate among states, while Telangana had the lowest rate in Feb, latest data showed, highlighting that price pressures continue to persist in some of the larger states.Kerala recorded an inflation rate of 7.3% in Feb, followed by Chhattisgarh at 4.9%, Karnataka at 4.5%, Bihar at 4.5% and Jammu & Kashmir at 4.3%. Telangana …
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NEW DELHI: LG Electronics India, a subsidiary of the South Korean chaebol LG, has received markets regulator Sebi’s approval for its Rs 15,000 crore initial public offering (IPO), people familiar with the matter said on Thursday.This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors India in Oct last year.In …
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MUMBAI: Value Attics Reinsurance has received a reinsurance licence from insurance regulator Irdai, making it the first private-sector reinsurer. This ends the five-decade monopoly of the public-sector reinsurer GIC Re. The approval was granted at Irdai’s board meeting, the last meet under chairman Debasish Panda, whose term ends this week. Govt has invited applications for the post.Value Attics is backed …
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BENGALURU: Indian IT firms generated around $20 billion in free cash flows last year, and more than 75% was returned to shareholders. Industry experts believe Indian IT firms are in for a big reset, especially with AI disrupting the linear relationship between revenue and employment.The Indian IT sector is reeling under a single-digit growth cycle. Its mainstay financial services business …
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Union minister Piyush Goyal NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday suggested to industry that it was imperative to shed some protectionism as the world was looking at reciprocity, while assuring exporters that govt was working overtime to protect their interests.“Reflecting on reciprocal tariffs, he has cautioned the EPCs (export promotion councils) to come out of their …
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Gold prices surged by Rs 600 on Thursday, reaching an all-time high of Rs 89,450 per 10 grams in the national capital, driven by strong global market trends. The yellow metal, with 99.9% purity, had previously closed at Rs 88,850 per 10 grams on Wednesday.Similarly, gold of 99.5% purity saw an increase of Rs 600, reclaiming its previous record high …
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Bank Holidays for Holi 2025 Bank Holidays for Holi 2025: Banks across various states will observe closures during Holi 2025, with specific dates varying by region. As per Reserve Bank of India (RBI) guidelines, certain days are designated as holidays under the Negotiable Instruments Act. These holidays are determined based on local traditions and customs. Holi bank holidays: March 13 …
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NEW DELHI: Gold prices continued upward momentum with April futures hitting an all-time high of Rs 86,875 per 10 grams on Thursday, at the multi commodity exchange (MCX).The yellow metal marked a rise of 0.21 per cent or Rs 189, while silver May futures traded at Rs 99,389 per kilogram, down 0.09 per cent or Rs 87.Gold gained after due …
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NEW DELHI: India’s core inflation outlook remains positive despite rising industrial metal prices, a report by ICICI Bank Global Markets revealed.Core inflation remained higher in February, majorly due to a surge in gold prices. Meanwhile, stable global edible oil prices and expectations of a normal monsoon point to a positive outlook for food inflation in the coming months.However, uncertainties remain, …
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