Business & Economy

New Delhi: Mukesh Ambani’s Reliance Industries Limited (RIL) is considering buying crude oil from Venezuela once again. The company, which operates the world’s largest refining complex, said it would explore purchasing Venezuelan oil if sales to non-U.S. buyers are permitted. A Reliance spokesperson, responding via email to Reuters, said:"We are waiting for clarity on access to Venezuelan oil for non-U.S. buyers and will consider purchasing it in compliance with regulations." The shift comes after Caracas and Washington recently struck a deal following the arrest of Venezuelan President Nicolás Maduro by the U.S. military. Under this agreement, the U.S. is authorized to export up to $2 billion worth of Venezuelan crude (roughly 30–50 million barrels). Why Reliance Had Stopped Buyi...

New Delhi: Air India, now under the ownership of the Tata Group, has received its first ‘line-fit’ Boeing 787-9 Dreamliner since the airline was privatized. This marks the first addition of a Dreamliner to Air India’s fleet in over eight years. The last line-fit Dreamliner was received in October 2017, when the airline was still government-owned. In the aviation industry, ‘line-fit’ refers to equipment, systems, or features installed during the aircraft’s manufacturing process rather than retrofitted later. According to officials, Air India took possession of the aircraft on 7 January at Boeing’s Everett factory in Seattle, USA. Following inspection by the DGCA, the aircraft is expected to arrive in India in the coming days. Wide-Body Aircraft BoostThis latest aircraft is Air India’s...

New Delhi: Amid a sharp decline in the stock market, Alok Industries, one of India’s leading textile companies, saw its shares jump over 8% today. Reliance Industries holds a 40% stake in the company. The broader market continued its downward trend for the fourth consecutive day, with the BSE Sensex falling nearly 700 points during trading. Over the past four sessions, the Sensex has lost around 1,500 points, wiping out more than ₹7 lakh crore in investor wealth. In this turbulent scenario, Alok Industries’ stock rose to ₹17.25 per share, up from the previous close of ₹15.86 on the BSE. Trading activity in Alok Industries was unusually high, with 23.3 million shares exchanging hands, approximately nine times the average weekly volume. Between July and December last year, the stock fa...

New Delhi: Gold and silver prices witnessed a decline today, with silver experiencing a sharp fall of up to ₹10,000 per kilogram and gold dropping by nearly ₹1,500 per 10 grams. On the MCX, March silver contracts had closed at ₹250,605 per kg in the previous session and opened at ₹251,041 today. During trading, silver fell to a low of ₹240,605 per kg. As of 1:22 PM, silver was trading at ₹242,346, down ₹8,259 or 3.3% from the previous close. Meanwhile, February gold contracts opened marginally lower at ₹137,996 per 10 grams, after closing at ₹138,009 per 10 grams in the previous session. During the session, gold slipped to a low of ₹136,500 per 10 grams. At 1:24 PM, gold was trading at ₹137,035, down ₹974 or 0.71%. Last year had seen record highs in both gold and silver prices. Ou...

New Delhi: India’s top industrialist and one of the country’s wealthiest, Anil Agarwal, is reeling from the tragic loss of his only son, Agnivesh Agarwal, who passed away at the age of 49 following a skiing accident in the United States. Agnivesh had been receiving treatment at a hospital when he suffered a sudden cardiac arrest. The untimely demise of his son has left Agarwal deeply shattered. Humble Beginnings in BiharBorn into a Marwari family in Bihar, Agarwal, often called the ‘Metal King’, left his home state at the age of 20 with nothing but a lunchbox. He arrived in Mumbai and began working tirelessly to build his business empire. His first venture, launched in the 1970s through scrap trading, proved profitable and laid the foundation for his future enterprises. Early Struggl...

New Delhi: Vedanta Group Chairman Anil Agarwal, one of India’s richest industrialists, is grappling with a profound personal loss following the untimely death of his only son, Agnivesh Agarwal, in the United States. Agnivesh, 49, was injured in a skiing accident and was undergoing treatment at a hospital when he suffered a fatal cardiac arrest. The tragedy has left the Agarwal family devastated and raises questions about the succession of Vedanta Group’s multi-billion-dollar legacy. Vedanta’s Vast EmpireVedanta’s market capitalization stands at approximately ₹2.33 lakh crore, with business interests spanning multiple countries. Its subsidiaries include Hindustan Zinc, Bharat Aluminium Company (BALCO), Cairn Oil & Gas, and ESL Steel, operating across sectors such as power, iron ore, ...

New Delhi: India is poised to join the elite group of countries that manufacture aircraft, as Adani Group partners with Brazilian aerospace company Embraer to produce small and medium-sized airplanes domestically. Embraer is renowned globally for aircraft seating between 70 and 146 passengers and already has a presence in India. According to a report by TOI, the two companies have signed a memorandum of understanding (MoU) to set up a final assembly line (FAL) in India under the Make in India initiative. While the exact location, investment size, and operational timeline of the FAL are yet to be finalized, an official announcement is expected during the upcoming Hyderabad Airshow later this month. Boost to India’s Aviation EcosystemThe collaboration is expected to incentivize custome...

New Delhi: In a significant shift in global tech valuations, Alphabet Inc., the parent company of Google, has become the world’s second-most valuable company, surpassing Apple for the first time in seven years. Only Nvidia remains ahead, with a market capitalization of $4.604 trillion. Alphabet’s market cap now stands at $3.892 trillion, slightly higher than Apple’s $3.863 trillion. This marks the first time since 2019 that Alphabet has overtaken the iPhone-maker. On Wednesday, Alphabet shares closed at $322.43, up 2.51%, delivering a 64.73% return over the past year. In comparison, Apple’s stock fell 0.77%, closing at $260.33, with just a 7.49% gain in the last year. Nvidia shares have gained 25.32% over the same period. What’s Driving Alphabet’s Growth?The surge in Alphabet’s va...

New Delhi: Vedanta Group Chairman Anil Agarwal is mourning the sudden loss of his son Agnivesh Agarwal, who passed away in the United States at the age of 49. Agnivesh had been injured in a skiing accident and was undergoing treatment at Mount Sinai Hospital, New York, when he suffered a fatal cardiac arrest. In an emotional post on social media platform X, Anil Agarwal described the tragedy as the darkest day of his life. "My Agnivesh, my 49-year-old son, is no longer with us. What could be worse than a father having to carry his son's body? Agnivesh went skiing in the U.S. with a friend, had an accident, and was recovering at Mount Sinai Hospital. We thought everything would be fine… but suddenly he suffered a cardiac arrest and left us." Born in Patna, Raised with Love and Valu...

New Delhi: Aarohi Surya from Lucknow has scripted an inspiring entrepreneurial journey. She left a high-profile job in Dubai, worth ₹1.1 crore annually, to return to India and start her own venture, Dancing Cow, which offers a healthy alternative to cow’s milk — oat milk. Today, her brand generates revenue of ₹2.2 crore. From Corporate Glitz to Startup AmbitionsAarohi’s early academic life was challenging, and even during her engineering studies, she faced significant hurdles. Despite narrowly passing through tough times, she persevered. After completing her MBA in Dubai, she rose to the position of Marketing Head at HTC. However, her entrepreneurial spirit could not be contained. She successfully launched her first startup, Yalla, in Dubai, eventually selling it before returning to Ind...