Business

New Delhi: A light-hearted moment stole the show at a reception hosted by US Ambassador Sergio Gor in the national capital, where Commerce Minister Piyush Goyal and External Affairs Minister S. Jaishankar, along with several dignitaries, were present. During the event, Goyal humorously linked the recent India-US trade deal with the US cricket team’s performance in the ongoing T20 World Cup. A Blend of Trade and Cricket Addressing the gathering, Goyal joked that had the US reduced its retaliatory tariffs to zero, it might have “won the match” against India. The comment drew laughter and applause from the audience. The event followed last week’s announcement of an interim India-US trade framework, highlighting shared interests and deepening bilateral ties. Goyal acknowledged the US ...

New Delhi: Precious metals witnessed a sharp rise in prices in Delhi’s Sarafa market on Monday, driven by a strong global trend and a weakening US dollar. Silver prices surged over 6% to reach ₹2.72 lakh per kilogram, while gold climbed nearly 1% to ₹1.58 lakh per 10 grams. Local Market Trends According to local traders, silver jumped ₹17,000 from Friday’s closing rate of ₹2.55 lakh per kilogram to hit ₹2.72 lakh per kilogram (inclusive of all taxes). Meanwhile, 99.9% pure gold rose ₹1,300, or 0.83%, to ₹1,58,500 per 10 grams from Friday’s ₹1,57,200. Saumil Gandhi, Senior Commodity Analyst at HDFC Securities, said the rally was fueled by a dip in the US dollar and increased buying by speculators. “The dollar index fell nearly 0.30% to 97, supporting gold and silver prices. Global ...

New Delhi: Gold and silver opened sharply higher on the MCX on Monday, February 9, 2026, as investors reacted to global cues and domestic market movements. April gold futures rose by more than ₹2,100 per 10 grams, trading at ₹1,57,600, while March silver futures surged nearly ₹12,000 per kilogram, reaching ₹2,61,704. International Markets Support Rally Globally, gold hovered around $5,000 per ounce, recovering after a historic drop last month. On Monday, gold prices rose 1.7%, partially offsetting nearly half of the sharp decline from January 29’s all-time high. Silver, which had fallen more than a third from its record peak, rebounded 5% to exceed $80 per ounce, driven by speculative trading and thin OTC markets. Silver ETFs Shine Among Silver ETFs, Axis Silver ETF led the gai...

New Delhi: SpaceX founder Elon Musk has unveiled an ambitious plan to establish a human settlement on the Moon within the next decade. For now, the company has put its Mars colonization plans on hold, focusing entirely on making the Moon humanity’s first off-Earth city. This marks a strategic shift for SpaceX, which has become a key contractor for NASA. Musk’s lunar vision aligns with U.S. President Donald Trump’s renewed focus on sending humans to the Moon. Posting on social media, Musk stated: "SpaceX is now concentrating on building a self-sustaining city on the Moon. We can achieve this in under 10 years, whereas establishing a similar settlement on Mars would take over 20 years." Why Mars Plans Are Delayed Musk cited logistical challenges as the reason for postponing Mars ...

Mumbai: Investors in gold and silver have faced a turbulent ride over the past year. Silver prices, which once delivered triple-digit returns, plunged by as much as 25% in a single trading session, leaving many investors reeling. Gold too has not been spared, falling nearly 10% over recent trading sessions. These precious metals, known for their volatility, have made direct investment risky, prompting experts to recommend diversified alternatives. Multi-Asset Allocation Funds: A Balanced Solution Financial analysts suggest that instead of directly investing in gold or silver, investors consider multi-asset allocation mutual funds. These funds invest across at least three different asset classes — such as equities, debt, and commodities, including precious metals like gold and silver....

New Delhi: The Indian stock market is set for significant activity this week as three companies launch their Initial Public Offerings (IPOs) between February 9 and February 16, 2026. Collectively, these IPOs are expected to raise ₹3,871 crore. Two of the IPOs — Fractal Analytics and Aye Finance — are from the main board, while the third, Marushika Technology, is from the SME segment. 1. Fractal Analytics – The Largest IPO of the Week Fractal Analytics, India’s first pure-play artificial intelligence (AI) company to go public, is opening a ₹2,834 crore IPO. The issue opens on February 9 and closes on February 11, with listing scheduled for February 16 on both BSE and NSE. Breakup: ₹1,023 crore in fresh shares; ₹1,810 crore in shares by existing shareholders. Price Band: ₹857–₹9...

New Delhi: The recent interim trade agreement between India and the United States has paved the way for significant tax relief on heavy-engine vehicles, but electric vehicle manufacturers like Tesla remain unaffected, marking a setback for Elon Musk in India’s rapidly growing EV market. Luxury Vehicle Tax Cuts Under the agreement, India will completely eliminate import duties on Harley-Davidson motorcycles, allowing these premium bikes to be sold in India without additional taxes. Similarly, luxury cars from the U.S. will see a gradual reduction in import duties: from a previous high of 110%, duties will now taper to 30% over the next 10 years. Tesla and Electric Vehicles Left Out Despite the concessions for traditional vehicles, electric vehicles (EVs) were excluded from tax r...

New Delhi: The remarkable journey of George V Nereaparambil stands as a testament to how hard work, vision, and perseverance can overcome any obstacle. Once a mechanic supporting his family, today he owns a fortune worth ₹4,800 crore and 22 luxury apartments in Dubai’s iconic Burj Khalifa. Humble Beginnings in Kerala Born into a modest family in Kerala, George started working at a young age to support his household. He helped his father with agricultural work and also worked as a mechanic, fixing machines to earn a living. These early challenges instilled in him discipline, resilience, and an unwavering drive for success. Early Entrepreneurial Ventures Before moving abroad, George experimented with small businesses in India. One of his initial ventures involved producing glue f...

New Delhi: Indian equity markets closed on a positive note last Friday, with both benchmark indices posting gains. The BSE Sensex climbed 266.47 points to settle at 83,580.40, while the NSE Nifty 50 rose 50.90 points to end at 25,693.70. The gains came amid the RBI’s decision to maintain policy interest rates and proposals approving credit for Real Estate Investment Trusts (REITs), which boosted investor sentiment. During the session, the Sensex saw a day-low of 82,925.35, but surged 655 points intraday to close higher. The markets witnessed volatility throughout the trading day. Sector Movers and Market Highlights Among Sensex constituents, ITC led the charge with a 5.09% jump, followed by Kotak Mahindra Bank, Hindustan Unilever, Bharti Airtel, Bajaj Finance, Power Grid, and Baja...

New Delhi: The national capital is gearing up for a flurry of activity as the India AI Impact Summit 2026 approaches, and five-star hotel rooms are witnessing unprecedented price surges. Scheduled from 16–20 February 2026 at Bharat Mandapam, the summit is expected to host thousands of delegates from over 100 countries, including 15–20 heads of state, more than 50 ministers, and over 40 global and Indian corporate leaders. Record-Breaking Room Rates According to reports, demand has driven room rates at premier hotels to record levels. The Imperial Hotel, for instance, will charge ₹197,049 per night on 16 February, plus an additional tax of ₹35,469, bringing the total to ₹2,32,518 per night. Hyatt Regency, Delhi, is charging approximately ₹50,000 per night, while The Leela Palace, Delh...