Business

The United States has taken control of Venezuela’s oil resources and recently sold a portion of its crude, disrupting China’s longstanding strategy in the South American nation. In recent years, Venezuela had emerged as China’s largest strategic partner in the region. US Intervention in VenezuelaThe US has reportedly arrested Venezuelan President Nicolás Maduro, asserting control over the country’s oil exports. Venezuela holds the world’s largest proven oil reserves, estimated at around $303 billion in crude, valued at approximately $15 trillion. China had long entangled Venezuela in a debt-for-oil arrangement, receiving crude oil in exchange for loans. With the US now controlling Venezuelan exports, crude oil previously earmarked to repay Chinese loans is being redirected elsewhere. Un...

This week, the Indian stock market witnessed a sharp downturn, with four out of five trading days ending in losses. Several stocks recorded declines on all five days, with 15 of them falling by as much as 20%. Major group stocks, including Tata and Birla companies, were also affected. Weekly Market OverviewThe BSE Sensex dropped over 2,000 points during the week. In the BSE Small-Cap Index, 92 stocks saw losses across five consecutive sessions. Among these, 15 stocks experienced significant declines ranging from 15% to 20%, according to data from ACE Equity. Top Losers of the Week Systematix Corporate Services led the list, falling 20% over five days and closing at ₹82.20 in the last session, with a single-day decline of 10.16%. Ajmera Realty & Infra India dropped 19%, clo...

After the outbreak of the Ukraine war, Western countries imposed sanctions on Russian oil. Russia, however, has found an unprecedented workaround. Its ecosystem is so sophisticated that it is extremely difficult for the U.S. and other Western nations to track. India and China are also reaping benefits from this system. Shadow Oil FleetsFollowing the Ukraine war, Russia has established a large fleet of ships to transport oil. Despite recent reductions in India’s purchases, Russia remains the country’s largest crude oil supplier. Western nations, including the U.S., continue to sanction Russian oil. Meanwhile, the U.S. has started selling Venezuelan oil following sanctions on Iran. This brings renewed focus to “shadow fleets” or “dark fleets”—networks of tankers used to transport sanction...

New Delhi: The rally in gold and silver prices continues unabated, with global markets witnessing historic highs. On Friday, silver prices on the New York Comex crossed the $100 per ounce mark for the first time ever, marking a 40% increase so far this year. Meanwhile, gold hovered around $5,000 per ounce, reflecting strong investor demand amid ongoing geopolitical tensions. Domestic Market TrendsIn India, the MCX silver February contract surged to ₹3,39,927 per kg during the trading session, before closing at ₹3,34,600 per kg, slightly down by ₹99 from the previous close. Gold for February delivery touched ₹1,59,226 per 10 grams intraday but ended at ₹1,55,963 per 10 grams, down ₹74 from the previous close. Delhi Sarrafa Market UpdateIn Delhi’s retail market, gold prices rose by ₹1,...

Finance Minister Nirmala Sitharaman is set to present the Union Budget on 1 February 2026, and railway passengers are hopeful for meaningful changes. Despite government efforts, many commuters continue to face challenges with railway services. Passengers expect not only premium trains but also timely and efficient local trains. Key Expectations from the RailwaysCommuters hope the upcoming budget will ensure affordable travel with confirmed tickets even on short notice. Alongside expanding premium services, it is essential that railway tracks are upgraded so trains can operate at full speed safely. Passengers also demand improvements in cleanliness, quality of food and beverages, fair pricing for onboard purchases, functional restrooms, and enhanced safety measures to prevent theft and a...

Negotiations between India and the European Union (EU) on a Free Trade Agreement (FTA) have entered the final stage, with an announcement expected in the coming days. Ahead of the 27 January EU-India Summit, European Commission President Ursula von der Leyen said in an exclusive interview that “the final step is always the hardest, but the outcome will be highly beneficial.” Von der Leyen emphasized that both sides are working diligently to resolve remaining challenges and finalize the agreement. She highlighted that the FTA would eliminate €4 billion in tariffs, providing significant benefits to exporters. She also stressed that India and the EU could work together to uphold a rules-based international system and shape a secure and resilient world. Strategic and Economic Significanc...

Shares of the Adani Group plummeted sharply on Friday following reports that the U.S. Securities and Exchange Commission (SEC) has sought court approval to issue summons to Gautam Adani and Sagar Adani in connection with alleged fraud and a $26.5 million bribery case. The steep fall wiped out $7.86 billion (approximately ₹7,20,02,70,90,000) from Adani’s net worth. According to the Bloomberg Billionaires Index, Adani’s net worth has declined by $14.5 billion this year and now stands at $70 billion. He has slipped to 24th position among the world’s richest and ranks third in Asia. In comparison, China’s Zhong Shanshan now holds the second position in Asia with $73.3 billion, while Mukesh Ambani remains the richest in Asia with $92.6 billion. On Friday, shares of Adani Group companies f...

The Delhi Development Authority (DDA) is introducing a new system of weekly public hearings to address issues faced by residents of DDA flats, many of which date back decades. DDA Housing Deputy Director Chinmay Chakravarty issued a circular announcing that these hearings will provide a platform for residents to raise concerns related to flat maintenance, housing pockets, security, and other infrastructure issues. The hearings will be conducted by site engineers along with the in-charges of various housing pockets. They will listen to grievances and ensure timely resolution. The public hearings will take place every Wednesday from 2:30 PM to 4:30 PM. Site engineers and housing pocket in-charges are required to maintain detailed records of issues raised and participants attending the ...

Good news for Delhi residents planning to buy electric vehicles (EVs): the Delhi government is considering a subsidy scheme for converting old cars into EVs under its upcoming EV Policy 2.0. The initiative aims to promote electric mobility while providing financial relief to the middle class. Under the proposal, diesel cars older than 10 years and petrol cars older than 15 years can be retrofitted into electric vehicles. Owners could receive incentives of over ₹50,000. Since retrofitting currently costs between ₹2–3 lakh, the government plans to provide subsidies for the first 1,000 vehicles. Investments in R&D could further reduce the cost, making it viable to upgrade old cars rather than scrap them. To encourage EV adoption, the government may also provide up to 5% subsidy on e...

Success often comes to those who persevere, and IIT Kanpur graduate Ankush Sachdeva is a perfect example. Despite holding a degree in computer science, Ankush did not join a major corporate firm. Instead, he faced 17 consecutive failures over several years, working on ideas ranging from e-commerce to utility services—all of which failed. Yet, he never gave up. These setbacks eventually led him to a major opportunity that the tech world had largely ignored. In 2015, Ankush, along with his IIT Kanpur friends Fareed Ahsan and Bhanu Singh, started exploring opportunities for India’s underserved internet users. They noticed that people in smaller towns and villages were increasingly going online, but there were no apps in their local languages. Mainstream platforms failed to engage them. Thi...