MUMBAI: India is set for a $50 billion consumption and savings boost as the next decadal wage revision for central govt employees and pensioners, due in Jan 2026, will trigger salary hikes for state govt employees and public sector undertakings.According to a report by UBS, the 8th central pay commission pay hike will shape India’s…
Wall Street, New York City (File photo-AP) US stock markets tumbled further on Tuesday after President Donald Trump intensified his trade war by announcing a sharp increase in tariffs on Canadian steel and aluminum, doubling the planned hike to 50%. The move sent Wall Street reeling, with the S&P 500 falling 1.1% in afternoon trading,…
NEW DELHI: Airtel scored a massive edge in the domestic telecom market by striking an agreement with Elon Musk’s Starlink satcom venture, announcing a deal on Tuesday to market the broadband and internet satellite services of the American company while also using its network to supplement its coverage across the country.However, the work on the…
US President Donald Trump (Photo-AP) US President Donald Trump escalated trade tensions with Canada on Tuesday by doubling tariffs on steel and aluminum imports from 25% to 50%, citing price hikes on electricity by Ontario’s provincial government as the reason for the move.“I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff,…
Trump’s tariffs: India’s low goods exports to the US could be its saving grace, says Morgan Stanley. (AI image) For long India has been a laggard when it came to export manufactured goods but very strong in exporting services to the world. With the US turning on the heat on its major trading partners from…
India’s stock market turmoil deepened on Tuesday as IndusInd Bank shares nosedived 25%, hitting a 52-week low of ₹674.55 losing approx. 16000 market cap in just 2 hours. This dramatic drop—the steepest since March 2020—came after the bank admitted to accounting discrepancies in its derivatives portfolio, triggering panic among investors and analysts alike.With concerns mounting…
Leave Travel Allowance (LTA) is a tax-saving benefit provided to salaried employees, allowing them to claim exemptions on travel expenses incurred during leave. It helps reduce taxable income under certain conditions and applies to transportation costs for travel within India. However, the exemption is subject to actual expenses and the limits set by tax authorities…
MUMBAI: IndusInd Bank said valuation losses in its forex derivative contracts could impact the bank’s net worth by up to 2.4% or around Rs 1,530 crore. The announcement came hours after shares of the bank closed nearly 4% lower on Monday. The fall was triggered by RBI’s decision to approve only one-year extension for MD…
MUMBAI: The size of funds collectively raised by investors for allocating to Indian startups dropped to a four-year-low of $2.7 billion in 2024 as big players like SoftBank and Tiger Global refrained from making big bets, largely issuing smaller follow-on cheques for portfolio companies and remained cautious on overall deployment of capital.In 2023, investors had…
MUMBAI: The rupee witnessed its sharpest single-day fall in two weeks on Monday, closing at 87.33 against dollar, down 46 paise from Friday’s 86.87. The decline, driven by dollar bids due to the maturity of non-deliverable forwards (NDF) positions, was further pressured by weakness in the Chinese yuan. This marked a 0.5% drop, the steepest…