Business

Gold and silver prices witnessed a sharp correction on Thursday, retreating from record highs amid profit booking and easing global risk concerns. The decline pushed both precious metals significantly lower across major bullion markets, from Delhi to Patna, dealers said. According to the All India Sarafa Association, 99.9 percent pure gold fell by ₹2,500, or 1.56 percent, to ₹1,57,200 per 10 grams in the national capital. In the previous session, gold had closed at an all-time high of ₹1,59,700 per 10 grams. Silver recorded an even steeper fall, snapping a nine-day record rally. Prices plunged by ₹14,300, or 4.3 percent, to settle at ₹3,20,000 per kilogram. In the prior session, silver had surged to a historic peak of ₹3,34,300 per kilogram. Why Did Prices Fall? Market analysts...

The Union Budget to be presented on February 1 is expected to mark a historic moment for India’s defence preparedness. Coming in the aftermath of the successful Operation Sindoor, the government is preparing for a record-breaking increase in defence spending, signalling a decisive shift towards strengthening military capability. According to sources cited by ET Now, the total allocation for the Ministry of Defence could cross ₹7 trillion, with more than ₹2 trillion earmarked exclusively for capital expenditure, including the procurement of weapons and advanced military platforms. If confirmed, this would represent the largest defence budget in India’s history. Double-Digit Growth Likely Officials indicate that the defence budget may see a double-digit increase of 10 percent or mor...

Air India is expected to suffer a massive financial setback this year, with losses estimated at ₹150 billion (approximately $1.6 billion) for the financial year ending March 31. A deadly aircraft accident and prolonged airspace restrictions have dealt a severe blow to the national carrier’s recovery plans. The projected loss marks a significant reversal for Air India, which is jointly owned by the Tata Group and Singapore Airlines. The airline had been hoping to narrow losses and move closer to profitability, but those expectations now appear increasingly unrealistic. Crash Shatters Turnaround Momentum The setback follows a tragic Dreamliner crash in June, which claimed the lives of more than 240 people. The incident not only resulted in immense human loss but also severely damage...

As global attention remains fixed on trade tariffs imposed by former US President Donald Trump, former IMF Deputy Managing Director Gita Gopinath has flagged a far more serious and often overlooked risk to India’s economic future—pollution. Speaking at a discussion on the Indian economy during the World Economic Forum in Davos, Gopinath said that global tariffs pose less danger to India’s growth trajectory than the country’s worsening environmental conditions. According to her, pollution should be treated as a top national priority, on par with major economic reforms. Pollution’s Hidden Economic Cost “Whenever we talk about boosting trade, the focus usually remains on tariffs, trade barriers and regulations,” Gopinath said. “But what we don’t talk enough about is pollution—and its...

New Delhi:At a time when Pakistan is battling one of the worst economic crises in its history, the country’s decision to commit $1 billion to former US President Donald Trump’s proposed international initiative, the “Board of Peace,” has sparked sharp debate and raised serious questions about its financial priorities. The Board of Peace, announced by Trump, is envisioned as a global platform involving leaders from 60 countries, aimed at restoring peace and rebuilding war-ravaged Gaza. Countries contributing $1 billion are promised permanent seats on the board. Pakistan has confirmed its willingness to join, placing it alongside India and several Islamic nations. Economic Distress vs Diplomatic Ambition Pakistan’s move comes amid deep financial distress. The country remains heavily...

New Delhi: Driving licenses (DL) have become almost as essential as food, clothing, and shelter, especially for young Indians who rely on scooters and motorcycles for daily commuting. Now, the central government has amended rules related to driving licenses, making repeated traffic violations a serious matter. Under the new regulation, drivers caught violating traffic rules five or more times in a year may face DL suspension. What the New Rule Says The Ministry of Road Transport and Highways issued a notification last Wednesday stating that the rule is effective from 1 January 2026. According to the amendment: If a driver commits five or more traffic violations in a single year, their driving license may be suspended. Suspension means the driver cannot operate any vehicle for ...

New Delhi: Shares of Dr. Reddy’s Laboratories surged nearly 6% in early trading on Thursday, rising to ₹1,225 on the BSE, pushing the company’s market capitalization to ₹1,02,195.71 crore. This comes despite the company reporting a 14% decline in consolidated net profit for the December quarter compared to the same period last year. Quarterly Financial Highlights: Revenue from operations rose 4% to ₹8,727 crore. Gross profit fell 5% to ₹4,681 crore, with margins declining to 53.6% from 58.7% last year. The North American business experienced a 12% revenue drop to ₹2,964 crore, impacting overall profitability. Meanwhile, the European and Indian segments performed well, with European revenue up 20% to ₹1,448 crore. Stock Market Performance:Over the past month, Dr. Reddy’s...

Vedanta Limited is making waves in India’s corporate sector by taking an unconventional approach to employee stock ownership. While most companies reserve Employee Stock Option Plans (ESOPs) for mid- to senior-level executives, Vedanta is giving even shop-floor and mining workers a stake in the company, making them shareholders and part-owners. ₹2,500 Crore in Shares Distributed Over Five Years Under the leadership of Anil Agarwal, Vedanta has distributed approximately ₹2,500 crore worth of shares to employees over the past five years at just ₹1 per share. This initiative has provided substantial financial benefits while also fostering a sense of ownership among employees. By making staff feel like stakeholders, the company has redefined how Indian manufacturing companies reward thei...

Deepinder Goyal, founder and CEO of Eternal—the parent company of Zomato and Blinkit—has announced his resignation, sending ripples across India’s quick delivery sector. Known as the poster boy of India’s fast-growing quick commerce industry, Goyal’s departure has left the industry in shock. From Humble Beginnings to Entrepreneurial Vision Hailing from a middle-class family in Muktsar, Punjab, Deepinder Goyal graduated from IIT in 2006 and joined Bain & Company. One day, while waiting in his office canteen, he noticed long queues just to see the menu. Inspired, he scanned and uploaded the menu online. The idea struck a chord with people and laid the foundation for his entrepreneurial journey. Initially, Goyal launched a website called Foodlet, but it did not gain traction. Und...

A new development has emerged in the ongoing investigation of the Air India Boeing 787 crash. An American aviation safety group claims that the aircraft involved had a history of technical failures, raising questions about whether these issues contributed to last year’s tragic accident. Crash DetailsThe Boeing 787, operated by Air India, crashed on 12 June 2025, shortly after departing from Ahmedabad Airport en route to London. The disaster claimed the lives of 260 passengers and crew members. The official investigation is still underway. Technical Failures HighlightedAccording to the Aviation Safety Foundation (FAS), the aircraft had experienced multiple technical issues even before entering Air India’s service. The group submitted its findings to the US Senate Permanent Subcommitte...