BUSINESS

Beijing offers to address trade concerns with India after Sitharaman’s criticism China on Friday said it was ready to work with India to address their respective economic and trade concerns after finance minister Nirmala Sitharaman criticised Beijing’s restrictions on market access for Indian products, citing them as a major factor behind the widening trade deficit.“What…

Export volumes exceeded pre-war levels on 14 days during September. (Image for representative purpose only) When the US-Iran war began at the end of February, it unleashed an energy crisis on the world and one not seen in recent years. Oil shipments through the Strait of Hormuz, de facto controlled by Iran, came to a…

In the case of gold jewellery, CBDT Instruction No. 1916 sets out indicative quantities that may be considered while deciding whether jewellery should be seized. How much gold and silver can you legally keep at home? Is there a legal limit? There is no legally prescribed upper limit on the quantity of gold or silver…

India, Canada sign fresh business deals Indian and Canada signed a series of commercial agreements and memoranda of understanding (MoUs) on Friday, as companies from both nations explore opportunities for collaboration. The agreements were signed during the Canada-India Business Ceremony in Karnataka on Friday, attended by Canada’s minister of international trade, Maninder Sidhu, who took…

Tech Mahindra shares raced ahead of the BSE Sensex pack on Friday, sprinting over 8%, to add around Rs 11,000 crore to its market value. The blockbuster gains came after the IT firm reported a 32.74% jump in consolidated net profit for the September quarter.Tech Mahindra, along with other IT stocks helped domestic equity benchmarks…

Air India cancels all Saudi flights NEW DELHI: Air India has cancelled all flights to and from Riyadh, Dammam and Jeddah until October 20, as the situation in Saudi Arabia continues to evolve. The airline said that it is monitoring developments and assessing the situation to ensure flights could resume safely.“In view of the evolving…

Rupee gains 20 paise against US dollar NEW DELHI: Rupee began Friday on a strong note, gaining 20 paise from its previous close to 94.79 against the US dollar. The rise came as American currency weakened and the impact of the Reserve Bank of India’s structural forex interventions supported the unit.The gains, however, remained limited…

Govt raises petrol export duty, cuts diesel levy NEW DELHI: The government has raised the export duty on petrol fivefold to Rs 2.5 per litre from Rs 0.5, while cutting the levy on diesel to Rs 8.5 per litre from Rs 16. The revised rates came into effect on October 16.The export duty on aviation…

Air India is forming a dedicated team to identify cost-saving opportunities in operations while facing significant challenges. NEW DELHI: Air India MD and CEO Tewolde Gebremariam has set up a “multidisciplinary, cross-functional cost savings team” to find all possible ways and means of reducing expenditure on “full-time basis” amid mounting losses. Air India reported a…

Sequentially, the UR for people aged 15 and above remained steady at 5% for the secondstraight month NEW DELHI: India’s unemployment rate (UR) fell to 5% in Sept, compared with 5.2% a year ago, even as the labour force participation rate (LFPR) improved in the country, particularly in rural areas, according to the monthly periodic…