Business & Economy

Washington, D.C.: In a landmark move, U.S. President Donald Trump has struck a deal with nine major pharmaceutical companies to significantly lower drug prices in the country. Trump emphasized that for decades, Americans have been forced to pay some of the highest prices for medications globally. Under the agreement, several key drugs will see substantial price reductions. Impact on Global Pharma and IndiaThis announcement is expected to have far-reaching effects on the global pharmaceutical market, including India’s generic drug exports. The U.S. is now moving toward an international reference pricing system to determine drug costs. The nine pharmaceutical giants—Merck, Bristol Myers Squibb, Amgen, Gilead, GSK, Sanofi, Roche's Genentech, Boehringer Ingelheim, and Novartis—have agreed t...

New Delhi: India’s households are sitting on a staggering 35,000 tons of gold, making them home to the largest private gold reserve in the world. At current market rates, this hoard is worth over $5 trillion—a hidden wealth that, if mobilized into the mainstream economy, could address multiple financial challenges for the country in one stroke. The Scale of Hidden Gold:To put this in perspective, the legendary Titanic could carry about 22,000 tons of passengers and cargo—still far less than India’s domestic gold stock. Between 2000 and 2025, India officially imported over 700 tons of gold, worth more than $507 billion, not counting smuggled gold and jewelry brought by travelers, which could push the total to $700 billion. Potential Benefits of Mobilizing Gold: Boost Government Re...

New Delhi: The Indian rupee has plunged to an all-time low against the US dollar, trading past ₹91 per dollar earlier this week, though it later recovered slightly to ₹89.27. Experts warn that the rupee could remain under pressure due to persistent trade deficits, foreign capital outflows, and uncertainty over India-US trade agreements. Historical Context:A century ago, the rupee was far stronger compared to the dollar. In 1925, 1 rupee was equivalent to 10 US dollars, primarily because India’s currency was pegged to the British pound during colonial rule. Post-independence, the rupee’s value gradually weakened: 1947: 1 USD = ₹3.3 1950: 1 USD = ₹4.76 1966: 1 USD = ₹7.5 1990: 1 USD = ₹17.5 2000: 1 USD = ₹44.94 2020: 1 USD = ₹76.38 The pace of depreciation has accel...

New Delhi: Billionaire Elon Musk has secured a significant win in court, with the Delaware Supreme Court overturning a 2024 ruling that had denied him a $55 billion pay package granted by Tesla in 2018. The package was designed as a performance-based incentive for Musk’s role in taking Tesla to new heights. The dispute arose when some shareholders challenged the package in court, claiming it was excessive and that the board had acted under Musk’s influence. In 2024, a lower Delaware court had sided with the shareholders and nullified the package, denying Musk the payout—which today would be valued at $139 billion. In its 49-page decision, the Delaware Supreme Court cited multiple errors in the 2024 ruling and reinstated Musk’s 2018 package. The package was originally tied to Tesla’s ...

New Delhi: The onset of dense fog in North India is significantly affecting aviation operations. To ensure passenger convenience, the Ministry of Civil Aviation has issued strict guidelines for airlines during low-visibility conditions. At Indira Gandhi International Airport (IGI) in Delhi, around 80 flights were cancelled and 230 flights delayed due to heavy fog today, causing major inconvenience to passengers. In response, the government has instructed airlines and the DGCA to provide real-time updates about cancellations or long delays via SMS, email, call centers, and social media platforms. Key Instructions from the Ministry: If a flight is delayed by more than two hours, passengers must be provided with food and refreshments. Diversions to alternate airports should also inc...

New Delhi: Renowned author and investor Robert Kiyosaki, famous for Rich Dad Poor Dad, has warned that the world is heading toward a major economic crisis. According to Kiyosaki, recent interest rate cuts and indications of quantitative easing (QE) by the U.S. Federal Reserve signal large-scale money printing, which could trigger hyperinflation. Kiyosaki, sharing his views on his social media platform X, titled his post: “How to Get Rich When the World Economy Collapses.” He noted that the Fed’s actions have set the stage for what Larry Lepard calls “The Big Print”—a surge of new money entering the global economy. Invest in Hard Assets:Kiyosaki emphasized that ordinary people unprepared for rising prices will face severe financial strain. His advice to safeguard wealth is to invest i...

New Delhi: The Directorate General of Civil Aviation (DGCA) is expected to release the findings of its committee on the recent IndiGo flight cancellations, which affected thousands of flights and caused major inconvenience to passengers. Officials said corrective and detailed actions would follow once the report is reviewed. The DGCA had formed a four-member committee to investigate the crisis that disrupted operations at the country’s largest airline earlier this month. In response to operational challenges, the regulator had already reduced IndiGo’s winter schedule by 10% to manage the impact. Officials emphasized that measures are being taken to ensure such disruptions do not recur. IndiGo CEO Peter Elbers has stated that the airline is conducting a comprehensive review of the cri...

New Delhi: Silver has emerged as the star performer in 2025, delivering spectacular returns to investors. Silver ETFs have now given over 100% returns this year, leaving most other asset classes far behind. This surge has left investors pondering whether they should book profits or continue holding their investments. According to market experts, if silver now constitutes a larger portion of your portfolio than intended, it is prudent to book some profits. Selling a portion of your holdings to rebalance your portfolio back to its original allocation is a smart strategy. Expert Advice: Nikunj Sarraf, CEO of Choice Wealth, suggests that after a 110–130% rise in silver, investors should consider taking profits. He recommends withdrawing 25–33% of gains and reinvesting when prices cor...

Mumbai: India’s foreign exchange reserves saw a notable increase for the second consecutive week, providing relief amid previous weeks of volatility. The rise, driven by both foreign currency assets (FCA) and gold, added $1.68 billion to the nation’s reserves in the week ending 12 December 2025. Current Reserve Levels According to data released by the Reserve Bank of India (RBI), India’s total forex reserves reached $688.949 billion, following a $1.689 billion increase during the week. The previous week also saw a rise of $1.033 billion. The record high of $704.885 billion was earlier touched during the week ending 27 September 2024. Foreign Currency Assets (FCA) Growth During the review week, FCAs increased by $906 million, rebounding from a $151 million decline the previous w...

New Delhi: Pawan Kumar, a farmer from Hasanpur village near Najafgarh, Delhi, has transformed his small-scale mushroom venture into a thriving business, inspiring countless aspiring agriculturists across India. What began in 2016 in a modest 22x25 sq ft room has now grown into a state-of-the-art “Hi-Tech Mushroom Farm” producing an average of 170 kg of button mushrooms daily, generating around ₹7 lakh per month. Humble Beginnings Pawan Kumar had long been engaged in traditional farming, but a friend’s advice in 2016 changed the course of his life. After undergoing mushroom cultivation training at an agricultural science center, he invested ₹5 lakh and started his farm in a small room. Equipped with racks and air conditioning to control temperature, he sourced high-quality compost ext...