Economy

On May 17, the rupee recovered from an intraday low of 77.79 to settle 7 paise higher thanks to a strong rally in local equity markets. Due to a surge in crude oil prices and … Read more

The Commerce and Industry Ministry said on May 17 that the Centre has relaxed its May 13 wheat export embargo order to enable export consignments that were registered in the Customs Department’s systems and handed … Read more

The Adani family announced that it had entered into definitive agreements to buy Holcim Limited’s full investment in Ambuja Cements Limited and ACC Limited, two of India’s major cement producers, using an offshore special purpose … Read more

The government of India has “prohibited” wheat exports, citing a threat to food security. The decision was made on Friday in response to a “sudden surge in global wheat prices originating from a variety of … Read more

Trade Deficit: Official data show that a rise in crude oil imports pushed India’s goods import bill to $60.3 billion in April, up 31%. The trade imbalance widened this month to $20.11 billion, up from … Read more

After failing to achieve reduced import duties, Tesla Inc has put plans to sell electric cars in India on hold, abandoned a search for showroom space, and transferred some of its domestic team, according to … Read more

Forex Reserves: According to an RBI report, the country’s foreign exchange reserves (forex reserves) fell by $28.05 billion to $607.31 billion at the end of March this year from $635.36 billion at the end of … Read more

Retail Inflation: According to data released by the National Statistical Office on Thursday, consumer inflation in India accelerated to an almost eight-year high of 7.8% in April, up from 6.95 percent in March, with rural … Read more

Tata Steel Ltd., a major importer of Russian coal in recent months, has opted to halt purchases due to “uncertainties” about supplies as a result of international sanctions implemented after the Ukraine incursion. “To maintain … Read more