Business

13

May

By The Press Editor

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Business

Market Opening Bell: Sensex drops 119 points, Nifty flat amid renewed geopolitical tensions

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, opened in red on Wednesday, May 13, 2026, amid mixed global cues as renewed geopolitical tensions and unfavourable global macroeconomic cues continue to weigh on overall risk sentiment. While the 30-share BSE Sensex dipped 119.9 points or 0.16 per cent to start the session at 74,559.24, the Nifty shed 17.1 points to open at 23,362.45. In the last trading session, the Sensex closed at 74,559.24 and the Nifty 50 at 23,379.55. However, BSE and NSE bounced back and hit the intraday high of 74,981.34 and 23,503.80, respectively. Similarly, the broader indices…

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13

May

By The Press Editor

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Business

Gold, silver imports to get costlier as govt hikes customs duty

New Delhi: The Centre has increased the import duty levied on gold, silver, and other precious metals to 10 per cent. According to the notifications issued on Tuesday by the Finance Ministry, the revised rates will come into effect from today (May 13), with the higher levy applicable to gold, silver, platinum, jewellery findings, and precious metal-related industrial imports. This comes two days after Prime Minister Narendra Modi urged people to avoid purchasing gold for one year in an effort, as the country's foreign exchange reserves have come under strain due to the West Asia conflict. The story is being updated.

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11

May

By The Press Editor

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Business

‘No shortage of petrol, diesel,’ assures govt after PM Modi’s appeal but calls for ‘efforts to save energy’

New Delhi: Day after Prime Minister Narendra Modi urged people to save fuel, the government on Monday clarified that there is no shortage of petrol or diesel in India, adding that there is no need to panic. However, it maintained that citizens need to conserve fuel because of the heightened global turmoil and the situation in the Middle East where a conflict is underway between the United States (US) and Iran. Speaking at an inter-ministerial briefing over the situation in West Asia, Sujata Sharma, who is Joint Secretary (Marketing and Oil Refinery) at Ministry of Petroleum and Natural Gas, accepted…

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08

May

By The Press Editor

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Business

Did you know this Railway rule? One mistake that can cost you your confirmed train ticket

New Delhi: Lakhs of people travel by Indian Railways every single day. Once a ticket gets confirmed, most travellers assume their seat is fully secured. However, a simple mistake can still cost you your confirmed seat. What is more surprising is that many passengers are unaware of this rule and end up facing inconvenience during their journey. According to railway rules, if a passenger does not board the train from the station mentioned on the ticket, the TTE can mark the seat as vacant. If the passenger does not occupy the seat within the next two stations, the TTE is allowed…

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08

May

By The Press Editor

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Business

Air India resorts to cost-cutting amid high jet fuel prices: Is layoffs also on cards?

New Delhi: Hit by a surge in operational expenses due to the West Asia conflict, Air India has initiated a series of cost-containment steps, pausing annual salary hikes and asking employees to reduce discretionary spending. In a townhall meeting on Friday, CEO and MD Campbell Wilson cautioned the workforce that the year ahead could be "very, very difficult" unless external conditions improve. During the interaction with staff, Wilson, Chief Financial Officer Sanjay Sharma and Chief Human Resources Officer Ravindra Kumar GP stressed the urgent need to curb non-essential expenditure. Sharma explained that FY26 has already seen revenue soften due to…

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06

May

By The Press Editor

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Business

DA hike announced for govt employees of this state, check how much salary increased for them

Itanagar: In a piece of good news for the government employees of Arunachal Pradesh, the state government on Wednesday announced a hike in dearness allowance (DA) for serving employees and dearness relief (DR) for pensioners by 2 per cent, raising the rate to 60 per cent of basic pay/pension. The enhancement of DA and DR will be effective January 1, 2026, a statement from the Chief Minister's Office (CMO) said. The enhanced DA will apply to All India Service Officers serving under the Arunachal Pradesh government, central government employees on deputation to the state government, and all regular state government…

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06

May

By The Press Editor

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Business

Food vendor overcharging on train? Here’s what IRCTC rules say you can do

New Delhi: Passengers often buy food and beverages from vendors while travelling on trains. However, there are frequent complaints that vendors charge more than the fixed prices. In such situations, passengers are often unsure about what to do or where to complain. If you have faced this issue, there's no need to worry. Indian Railways and Indian Railway Catering and Tourism Corporation (IRCTC) have laid down clear rules to protect passengers' rights. Knowing these rules can help you avoid overcharging and take action when necessary. According to IRCTC guidelines, all food and beverage items on trains must be sold at…

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06

May

By The Press Editor

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Business

Govt clears Rs 5,000 crore emergency credit scheme for airlines amid jet fuel price surge

New Delhi: In view of the West Asia situation, the government has announced a clearing of Rs 5,000 crore emergency credit line scheme to airlines amid the jet fuel price surge, the Ministry of Civil Aviation said in a statement on Wednesday. Notably, the Iran war has led to a sharp hike in operating costs along with a decrease in passenger numbers.  The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, providing targeted financial relief to airlines grappling with a sharp increase in Aviation Turbine Fuel (ATF) prices and global disruptions.  ECLGS…

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06

May

By The Press Editor

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Business

Sensex surges 940.73 points to settle at 77,958.52, Nifty above 24,300, Indigo among top gainers

Mumbai: Indian benchmark indices witnessed a strong rally on Wednesday. Riding on global cues, the market rebounded strongly, bringing investors a welcome boost. News of a possible peace agreement between the United States and Iran created a positive market sentiment, pushing the Sensex nearly 1,000 points higher and the Nifty crossing 24,300. At the end of trading, the Sensex gained 940,73 points to close at 77,958.53. The Nifty also jumped 298.15 points to reach near 24,330.95. The market witnessed widespread buying, with approximately 2,755 stocks advancing while 1,287 stocks declined. "The markets staged a strong rebound, with Nifty closing above…

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06

May

By The Press Editor

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Business

Big relief for homebuyers as UP RERA caps flat transfer fee at Rs 1,000 for legal heirs: Details

Lucknow: In a major relief to homebuyers in Uttar Pradesh, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) (UP RERA) has fixed a maximum fee of Rs 1,000 for transfer of flats to legal heirs in case of death of the original allottee. UP RERA Chairman Sanjay Bhoosreddy said that developers or promoters will now be required to transfer the flat, by default, to the spouse, son, or daughter of the deceased allottee on payment of a nominal processing fee of Rs 1,000. According to Bhoosreddy, the authority had received several complaints regarding builders charging arbitrary fees. There were…

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