Business

China, which ranks among the world’s biggest official-sector gold buyers, has now continued adding bullion to its reserves for 22 consecutive months. Gold prices are driven not just by the gold individuals buy or sell. In fact, one of the biggest factors that drives gold prices is the trendline of central banks buying or selling…

Those affected include director-level officials and team leads at the company’s headquarters. (Image for representative purpose only) Samsung India Electronics has started laying off its workforce in phases as its core smartphone business faces pressure on sales and margins following a more than twofold increase in memory chip prices. Around 80-100 executives in the television…

Together, these stretches cover 326 route kilometres and have been developed at a cost of more than Rs 20,700 crore. India’s dedicated freight corridors network is expanding with Prime Minister Narendra Modi inaugurating some key new sections on Tuesday. PM Modi dedicated three key sections of the Western Dedicated Freight Corridor (WDFC) to the nation….

Gold is expected to range trade in the run up to the US inflation data. Gold price prediction today: Gold prices are expected to remain range-bound for the coming days, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan. Gold Performance: On September 7, spot gold traded with a slightly bearish tilt as rise…

Iran doubles petrol prices Iran has doubled the price of petrol for consumers who exceed their monthly quota, putting a higher cost on heavy fuel use as households already grapple with falling purchasing power and soaring inflation.The revised rate came into effect early Tuesday and applies to purchases above 110 litres (29 gallons) a month….

Rupee falls 10 paise to 94.66 against US dollar as crude nears $98 Rupee remained under pressure in early trade on Tuesday, slipping 10 paise to 94.66 against the US dollar as rising crude prices and geopolitical tensions in the Middle East weighed on investor sentiment.The currency had opened at 94.49 against the dollar at…

Asian markets were mixed, with South Korea and Taiwan among the markets showing gains, while Hong Kong and Australia traded lower. The Hang Seng Index fell 141.87 points, or 0.56%, to 25,271.25. South Korea’s Kospi gained 133.69 points, or 1.91%, to 7,129.08, while Taiwan’s index rose 184.81 points, or 0.39%, to 47,511.08. Japan’s Nikkei was…

Brent crude climbs beyond $97 as Strait of Hormuz disruptions choke global oil supplies Oil prices inched higher on Tuesday as conflict in the Middle East continues to intensify, disrupting global oil supplies for over six months now. Brent crude was up 0.05%, or $0.05, at $97.05 while WTI crude rose 1.03%, or $0.94, to…

We’ll make Air India great again: Gebremariam NEW DELHI: “Focus on safety, financial stability, winning trust of passengers and offer a consistent customer experience.” Tata Sons and Air India chairman N Chandrasekaran Monday set the objectives for the airline and its new boss in a town hall with the carrier’s outgoing and incoming MDs and…

Blackstone Inc is among global investment firms in the fray to buy a stake in IIFL Finance, just as Fairfax Financial Holdings looks to exit from the company, according to people familiar with the matter.Fairfax, founded by Indian-born Canadian billionaire Prem Watsa, is weighing selling its entire holding in IIFL Finance to comply with regulatory…