Business

01

Mar

By The Press Editor

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Business

Oil prices set for 8 per cent war spike, gold and silver surge as Middle East conflict escalates

New Delhi: Middle East volatility has exploded following joint US-Israel strikes on Iran, prompting Iranian missile retaliation against Israel and Gulf states like Qatar, Kuwait, Bahrain and UAE. With Supreme Leader Khamenei's death fueling fears of prolonged conflict, global markets brace for turbulence, crude oil faces sharp war premiums, while safe-haven gold and silver gleam brighter. Commodity expert Ajay Kedia of Kedia Advisory warns of profound ripple effects on India's import-dependent economy. Oil prices poised for Monday surge Experts forecast an 8% jump in MCX crude oil prices Monday due to war premiums, pushing March delivery from Friday's ₹6,100 close…

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27

Feb

By The Press Editor

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Business

India’s economy grows by 7.8 per cent in Q3 of FY26 under new GDP series

New Delhi: India's economy continued to display solid momentum in the October to December quarter of 2025, with fresh official data pointing to robust expansion under the revised methodology for calculating Gross Domestic Product (GDP). According to the latest release, India's GDP growth rate stood at 7.8 per cent during the third quarter of the financial year 2025-2026, as per the Ministry of Statistics and Programme Implementation (MoSPI). It grew up from 7.4 per cent a year ago, according to the new series of national accounts with 2022-23 as the base year. The Ministry of Statistics and Programme Implementation (MoSPI) on…

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26

Feb

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Business

Govt mandates sale of Ethanol-blended petrol with minimum RON 95 nationwide from April 1

New Delhi: The government has directed that petrol blended with up to 20 per cent ethanol (E20) and having a minimum Research Octane Number (RON) of 95 will be sold across all states and Union Territories starting April 1, 2026. However, the Centre may permit exceptions in special situations, for specific regions, and for a limited time. Ethanol, produced from sugarcane, maize, and other grains, is a renewable and domestically sourced fuel that burns cleaner than conventional petrol.  Oil companies can sell ethanol-blended motor spirit  The oil ministry, in a February 17 notification, said, "the central government hereby directs that oil…

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25

Feb

By The Press Editor

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Business

ED seizes Anil Ambani’s lavish Mumbai ‘Abode’ in Rs 3,716 crore PMLA crackdown

Mumbai: The Enforcement Directorate (ED) has slapped a provisional attachment order on Reliance Group chairman Anil Ambani's opulent Mumbai residence, 'Abode', valued at a staggering Rs 3,716.83 crore, under the Prevention of Money Laundering Act (PMLA). Located in the upscale Pali Hill area, this 66-meter-high, 17-storey luxury tower now joins a growing list of seized assets in a probe tied to alleged bank fraud at Ambani's group firm, Reliance Communications (RCOM). Official sources confirmed the Wednesday (February 25) move, pushing the total attachments in this case to around Rs 15,700 crore. A symbol of wealth under scrutiny 'Abode' stands as…

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25

Feb

By The Press Editor

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Business

What is the difference between callable and non-callable FDs? Know which offers higher interest benefits

New Delhi: Fixed deposits, also known as FDs, have long been the preferred choice for investors looking to grow their savings in a safe and reliable manner. The introduction of callable and non-callable FD options from banks and other financial institutions is providing investors with more strategic investment opportunities based on their needs and goals. However, before investing, it's important to understand which of these two is the best choice. What is callable bank FD? Callable fixed deposits, also known as regular FDs, allow investors to withdraw part or all of the amount before the maturity date. However, banks and Non-Banking…

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25

Feb

By The Press Editor

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Business

Goripalayam flyover in Madurai: Detailed route, cost, features and design of the 2.1 km, four-lane flyover

Madurai: The Netaji Subash Chandra Bose flyover, popularly called the Goripalayam flyover, was inaugurated by Tamil Nadu Chief Minister MK Stalin last week in Madurai, with an aim to reduce traffic congestion in parts of the city.  The 1.3 km flyover, inaugurated on February 21 (Saturday), has been built at a cost of Rs 213.80 crore and it aims to ease the traffic in the city, particularly in areas like Sellur, Tallakulam, Tamukkam, Nelpettai and Anna Nagar. It connects the Anna Salai and Nelpettai with the Tamukkam Junction. How it will reduce travel time? The Goripalayam flyover, whose official name…

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24

Feb

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Business

Delhi-Meerut Namo Bharat RRTS ridership surpasses one lakh on first day after launch

New Delhi: Passengers thronged the trains of the Namo Bharat Regional Rapid Transit System (RRTS) on Monday, marking a historic first full day of operations. The National Capital Region Transport Corporation (NCRTC) reported that ridership on the Delhi-Meerut corridor crossed the one lakh mark, setting a new record. The milestone comes a day after Prime Minister Narendra Modi officially inaugurated the complete 82-kilometre Delhi-Meerut stretch, along with the newly opened Meerut Metro link. Videos from stations, particularly Begumpul in Meerut, captured the excitement of commuters eager to experience the new service. Families and young passengers took selfies and photos inside…

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23

Feb

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Business

Gurugram surpasses Mumbai in luxury home sales, records over Rs 24,000 crore transactions in 2025

New Delhi: Sales of luxury homes priced at Rs 10 crore and above witnessed a sharp 80 per cent rise in Gurugram last year, touching Rs 24,120 crore on the back of increased demand and rising property prices, according to a new report. The findings were released on Monday by real estate consultant India Sotheby's International Realty and data analytics firm CRE Matrix, which jointly analysed Gurugram's primary luxury housing market. Their report highlights that the IT-driven city in Delhi-NCR has surpassed Mumbai in total sales value of homes priced Rs 10 crore and above. In comparison, Mumbai recorded luxury…

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22

Feb

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Business

Air India cancels all New York-Newark flights amid monster East Coast blizzard warning

New Delhi: Air India has cancelled all flights to and from New York and Newark on February 23 (Monday), prioritising traveller and crew safety amid forecasts of a massive winter storm battering the US East Coast. The decision comes as heavy snow- up to 1-2 feet (30-61 cm)- looms over key hubs, threatening operations from Sunday into Monday. Affected passengers will receive full support, including rebooking options and refunds, as the airline scrambles to mitigate chaos. Blizzard alert: Historic Nor'easter looms The National Weather Service issued blizzard warnings stretching from Maryland to Massachusetts, engulfing New York City, Long Island, Boston,…

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22

Feb

By The Press Editor

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Business

PAN Card: What’s hidden in your 10-digit Permanent Account Number

New Delhi: The PAN card has become a mandatory document for almost every financial transaction in India. Issued by the Income Tax Department of the Government of India, the Permanent Account Number (PAN) serves as a unique personal identification for individuals and entities. It is a 10-digit alphanumeric code used to track tax-related information and financial activities. A PAN card is required for filing income tax returns, opening bank accounts, making investments, purchasing high-value assets, and carrying out several other financial transactions. While most people use the PAN regularly, few are aware that the 10-digit number printed on the card…

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