Business

15

May

By The Press Editor

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Business

India, UAE sign MoU for strategic petroleum reserves, here’s why it holds significance amid US-Iran conflict

New Delhi: Prime Minister Narendra Modi is in the United Arab Emirates (UAE) during his six-day tour. PM Modi, during his around four-hour stay in the Gulf nation, held wide-ranging talks with President Sheikh Mohamed bin Zayed Al Nahyan. The two countries have signed a memorandum of understanding (MoU) regarding Strategic Petroleum Reserves. An agreement was reached concerning the long-term supply of Liquefied Petroleum Gas (LPG), and an MoU was signed for the establishment of a Ship Repair Cluster at Vadinar in Gujarat. Pacts on LPG, strategic oil reserves to cushion US-Iran war impact Amid the ongoing tension in the…

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15

May

By The Press Editor

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Business

After petrol-diesel price hike, CNG prices go up in Delhi by Rs 2 amid Hormuz blockade, Iran war

New Delhi: After petrol and diesel price hike, the cost of compressed natural gas (CNG) was on Friday also increased by Rs 2 in the national capital as the blockade of the Strait of Hormuz continues in the wake of the conflict in the Middle East. The price in Delhi has been raised by Rs 2 per kg -- from Rs 77.09 per kg to Rs 79.09 per kg. The development comes a day after Mahanagar Gas Limited (MGL) raised CNG prices across the Mumbai Metropolitan Region (MMR) by Rs 2 per kg. The revised price is effective from May 14,…

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15

May

By The Press Editor

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Business

Income Tax Return of AY 2026-27 begins with release of excel utilities for ITR-1, ITR-4: here’s who can file

New Delhi: There is an important update for those who file income tax returns annually. The Income Tax Department has officially begun the process of filing income tax returns for the financial year 2025-26 (AY 2026-27). Sharing this information on social media handles, the department stated that the excel utility for ITR-1 and ITR-4 forms has been activated on the e-filing portal. This move by the Income Tax Department aims to save taxpayers from a last-minute rush. By taking action now, taxpayers can file their returns before the July 31, 2026, deadline. According to information from the Income Tax Department,…

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15

May

By The Press Editor

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Business

Gold falls nearly 2% on MCX, silver drops almost Rs 19k per kg: What’s behind this fall?

Mumbai: Rates of precious metals in futures are under pressure on Friday, May 15, 2026, amid profit booking and elevated US bond yields. The gold June 5 contract on the Multi Commodity Exchange (MCX) opened with a drop of Rs 1,188 or 0.73 per cent at Rs 1,60,790 per 10 grams against the previous close of Rs 1,61,978. It continued the downward trend to touch an intraday low of Rs 1,58,851, a drop of Rs 3,127 or 1.93 per cent. Last seen, it was trading at Rs 1,59,370, down Rs 2,608 or 1.61 per cent. In between, it touched the…

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15

May

By The Press Editor

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Business

Market Opening Bell: Sensex, Nifty open in green amid mixed global cues, Adani Ports among top gainers

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, opened on a positive note on Friday, May 15, 2026, amid mixed global cues as crude oil prices refuse to come down. While the 30-share BSE Sensex gained 98.38 points or 0.13 per cent to start the session at 75,497.10, the Nifty added 41.8 points to open at 23,731.40. In the last trading session, the Sensex closed at 74,608.98 and the Nifty 50 at 23,689.60. Similarly, the broader indices traded in the green in the opening session. While the BSE Midcap Select Index gained 19.92 points, the BSE Smallcap Select Index…

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15

May

By The Press Editor

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Business

Petrol, Diesel Price Hike LIVE Updates: Fuel price hike to have some impact on inflation, say sources

New Delhi: State-run oil marketing companies (OMCs) have increased petrol and diesel prices by Rs 3 per litre each. This is the first rate increase in more than four years. The price hike comes days after Union Petroleum and Natural Gas Minister Hardeep Singh Puri said the three fuel retailers were losing about Rs 1,000 crore per day, and the cumulative losses in a quarter were enough to wipe away all the profit they made in a full year.  Earlier, on March 27, the government reduced excise duty on petrol and diesel by Rs 10 per litre each to cushion…

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15

May

By The Press Editor

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Business

Petrol Diesel price today: Check new rates in your city after Rs 3/litre increase

New Delhi: With crude oil prices staying well above USD 100 per barrel for several days, petrol and diesel prices were hiked by Rs 3 per litre each on Friday.  Petrol Prices Today Across Major Cities City Petrol Price (Rs/Litre) Hike (Rs/Litre) New Delhi 97.77 3 Mumbai 106.64 3.1 Kolkata 108.74 3.29 Chennai 103.9 3.1 Gurgaon 98.29 2.99 Noida 98.04 3.3 Bengaluru 106.17 3.21 Bhubaneswar 104.57 3.6 Chandigarh 97.27 2.97 Hyderabad 110.89 3.39 Jaipur 108.19 …

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15

May

By The Press Editor

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Business

US authorities moving to drop fraud charges against billionaire Gautam Adani: Report

New Delhi: US authorities are reportedly moving to drop charges against billionaire Gautam Adani and end a over a year-old criminal case against him. According to a Bloomberg report, the Justice Department may announce it is dropping the charges within a few days. The report, quoting people familiar with the development, also said that the Securities and Exchange Commission (SEC) is also moving to settle a parallel civil fraud case it brought against Adani and others in November 2024.  The Justice Department alleged that Adani and others promised bribes to government officials in India to secure a solar energy project…

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15

May

By The Press Editor

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Business

Breaking: Petrol, diesel prices hiked by Rs 3 per litre each across the country

New Delhi: Petrol and diesel prices witnessed a fresh spike on Friday as oil marketing companies raised rates by Rs 3 per litre. The revision comes in response to rising global energy prices which prompted companies to partially transfer the burden to consumers. Following the latest adjustment, petrol in the national capital now stands at Rs 97.77 per litre. Diesel prices have also moved up, reaching Rs 90.67 per litre. The surge signals growing pressure on retail fuel markets amid international crude volatility due to West Asia tensions. 

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14

May

By The Press Editor

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Business

Wholesale price inflation jumps to 8.30% amid steep rise in crude oil prices

New Delhi: Wholesale price inflation has surged to 8.30 per cent in April, from 3.88 per cent in March, mainly due to a steep surge in prices of fuel, power and crude petroleum. Wholesale price index (WPI)-based inflation in fuel and power jumped to 24.71 per cent in April, from 1.05 per cent in March. In crude petroleum, inflation was 88.06 per cent in April, up from 51.5 per cent in the previous month. The sharp rise in WPI inflation reflects the impact of the West Asia crisis and the effective blockade of the Strait of Hormuz through which the majority of…

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