MUMBAI: RBI has deferred the implementation of its rules on exchange-traded currency derivatives by a month, resulting in traders scrambling to square off their positions.RBI’s circular, which was scheduled to come into effect on April 5, said that only traders with an underlying forex exposure can trade in currency derivatives. Exchange-traded currency derivatives, like futures…
Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company’s plans told Reuters, as it moves ahead with a possible entry into the world’s third-largest car market.A team from Tesla is expected to visit India later this month to…
MUMBAI: The concerns expressed by the Vistara pilots are not isolated incidents but rather indicative of systemic issues that extend across various Tata Group, Air India pilots said in a letter sent to theTata Group chairman on Thursday. They brought to the fore problems they have been facing with the Air India HR department as…
In an effort to manage global oil supplies amidst the Ukraine conflict, the United States has clarified its position regarding India’s purchase of Russian oil. According to US treasury officials, the objective of the sanctions and the $60 per barrel price cap imposed by the G7 is to ensure stable oil supplies globally while limiting…
India’s industry secretary said the ball is now in Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles.The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to…
Byju Raveendran, the founder of Byju’s, a leading edtech company in India, has faced a significant setback as his net worth has dropped to zero, according to the latest Forbes Billionaire Index 2024. The report states that his net worth has come down from Rs 17,545 crore ($2.1 billion) to zero! Once a top player…
Ace investor Ashish Kacholia has acquired a 17.2% stake in homegrown burger chain Jumboking, making him the second-largest shareholder. The investment, of an undisclosed amount, was made through a secondary market transaction following Triton Fund’s exit from the firm.Experts estimate the transaction to be valued between Rs 70 crore and Rs 80 crore, placing the…
Services PMI grows, employment increases at the fastest rate in seven months! India’s services industry showed faster growth in March, driven by strong demand, as per a private survey. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, increased to 61.2 last month, surpassing expectations. This marks the 32nd consecutive month of growth.Job…
Gold rate today: Gold prices reached a new all-time high on Thursday, influenced by global commodity prices. US Fed Chair Jerome Powell‘s statement, indicating that recent job numbers and higher-than-expected inflation wouldn’t change the central bank’s monetary strategy much, boosted investor confidence in gold, sparking increased buying activity.According to ET, June Gold futures on MCX…
China pips India in buying Russian oil! India is no longer the top buyer of seaborne Russian oil. The country has been forced to reject some cargoes of sea-borne Russian oil because of sanctions. China is now lapping oil from Russia at deeply discounted rates. In March, China outpaced India in importing Russian crude by…
