Business

New Delhi: Days after the United States imposed steep tariffs on several trading partners, its close ally Mexico has now approved up to 50% tariffs on imports from India, China and several other Asian nations. The Mexican Senate has cleared the bill despite resistance from domestic industry groups and objections from affected countries. The new tariff regime will come into effect from 2026. Mexico is currently America’s largest trading partner, and this move is being seen as a major protectionist push ahead of the crucial review of the US-Mexico-Canada Agreement (USMCA). According to a Reuters report, this is Mexico’s strongest attempt in years to shield local manufacturers from growing import competition. The tariffs apply specifically to countries that do not have a free trade agre...

Mumbai: The upcoming IPO of ICICI Prudential Asset Management Company (ICICI Prudential AMC), a subsidiary of ICICI Bank and one of India’s largest asset managers, is drawing massive interest from marquee investors. Even before the issue opens, several high-profile names — including the Jhunjhunwala family, Madhu Kela, Manish Chokhani and Prashant Jain — have already bought into the company. The IPO, valued at ₹10,602 crore, opens on December 12 and will close on December 16. Prudential Offloads 4.5% Stake Worth ₹4,900 Crore Ahead of the IPO, UK-based Prudential Corporation has sold its 4.5% stake in the company for approximately ₹4,900 crore. ICICI Bank, the co-promoter, along with several other domestic and global investors, has collectively invested ₹2,675 crore at the upper pr...

New Delhi: Gold and silver prices soared sharply on Wednesday after the US Federal Reserve announced its third consecutive interest rate cut. Though the reduction was smaller than widely expected, it triggered a strong rally in precious metals. Silver, in particular, climbed back to a fresh all-time high, reflecting robust global demand. Gold Jumps Over ₹700 on MCX On the Multi Commodity Exchange (MCX), gold futures for February 5 delivery opened at ₹1,30,250 per 10 grams, up from the previous close of ₹1,29,796. In early trade, prices touched an intraday high of ₹1,30,590. At 10:30 am, gold was trading ₹731 higher, rising 0.56% to ₹1,30,527 per 10 grams. Silver Hits Record Levels Again Silver witnessed another spectacular rise. Futures for March 5 delivery opened at ₹1,89,9...

New Delhi: The US Federal Reserve has announced its third consecutive interest rate cut, bringing the federal funds rate down to the 3.5%–3.75% range, the lowest level in nearly three years. The move is expected to ease borrowing costs and inject additional liquidity into global markets. While the Fed has signaled only one more rate cut next year, market expectations remain more aggressive: according to CME FedWatch data, futures indicate a 77% probability of two more cuts. Indian Markets React Positively After three straight sessions of weakness, Indian equities opened higher as investors welcomed the Fed’s decision.At 10:16 am, the BSE Sensex was up 167.95 points (0.20%) at 84,559.22, while the Nifty 50 advanced 61.40 points (0.24%) to 25,819.40. Market analysts say investors we...

New Delhi: With the 8th Pay Commission now formally constituted, anticipation is rising among central government employees and pensioners. The key question remains unanswered: Will the revised pay and arrears be implemented from January 1, 2026?While the government has hinted at the possibility, no official confirmation has been issued so far. Employee unions and political leaders continue to press for clarity, a demand that echoed even during the ongoing Winter Session of Parliament. During a recent Lok Sabha session, four MPs questioned Minister of State for Finance Pankaj Chaudhary about the implementation date. In response, the Minister refrained from specifying any timeline, stating only that the government will decide the effective date and make adequate financial provisions to im...

New Delhi: Embattled ed-tech giant Byju’s has secured significant relief in the United States. A US bankruptcy court has overturned a previous ruling that imposed a $1 billion penalty on company founder Byju Raveendran. The development marks a major reprieve for the once most-valued Indian startup. The earlier ruling, delivered on 22 November, had accused Raveendran of repeatedly ignoring court orders and failing to participate in legal proceedings. Byju’s parent company, Think & Learn, confirmed that the penalty order has now been set aside. The Loan and the Allegations A group of lenders that extended a $1.2 billion term loan to Byju’s subsidiary Byju’s Alpha had filed a default case against Raveendran on 11 August.According to filings in the bankruptcy court, Byju’s Alpha a...

New Delhi: In a major boost for investors, the Reserve Bank of India (RBI) has announced a redemption price of ₹12,801 per unit for two series of Sovereign Gold Bonds (SGBs). These bonds, originally issued on 11 December 2017 at just ₹2,954 per unit, have delivered returns of more than four times the initial investment. According to an official statement, holders of SGB 2017–18 Series XI will receive their final payout at the newly fixed redemption rate of ₹12,801 per unit. In addition to the massive price appreciation, investors have also enjoyed an annual interest of 2.5% on their investment for the entire holding period. RBI has extended the same redemption price to investors of the 2019–20 Series I, who wish to exit the scheme before its scheduled maturity on 11 December 2025. ...

While most young Indians chase the glamour of big cities, 24-year-old Prince Shukla from Purnea, Bihar, chose a path few dare to walk. He left a well-paying job in Bengaluru to return to his village and build an agricultural startup — a decision that initially invited mockery. People called him “ganwar” for giving up a corporate career to work in the fields. But Prince refused to quit. His grit, vision and belief in modern farming have today created a company with an impressive annual turnover of ₹2.5 crore, started with just ₹1 lakh. His venture, AGRATE, has uplifted thousands of farmers and proved that agriculture, when done smartly, can be a thriving business. Leaving a City Job to Rebuild Rural Agriculture Born in a small village in Purnea, Prince grew up watching farmers stru...

Dalal Street ended lower for the third consecutive session on Wednesday, as selling pressure in consumer durable, private banking, and IT stocks weighed on indices. The BSE Sensex slipped 275.01 points to close at 84,391.27, marking its lowest level since 11 November. During the day, the benchmark touched an intraday high of 85,020.34 and a low of 84,313.62. Similarly, the NSE Nifty fell 81.65 points to settle at 25,758, dragged down by heavy selling in the final hour of trade. Top Losers and Gainers Several frontline stocks ended in the red. Major laggards included: Eternal, Trent, Bharti Airtel, Infosys, Tech Mahindra UltraTech Cement, ICICI Bank, HDFC Bank Bajaj Finance, Tata Consultancy Services, BEL, Larsen & Toubro Tata Motors Passenger Vehicles However,...

Whether or not investors are making profits from cryptocurrency, the government certainly is. The Finance Ministry informed the Lok Sabha that crypto exchanges have collected nearly ₹1,100 crore as Tax Deducted at Source (TDS) from users over the last three financial years. Surprisingly, 60% of this revenue came from a single state — Maharashtra. According to Minister of State for Finance Pankaj Chaudhary, crypto exchanges deducted ₹221.27 crore in FY 2022-23, ₹362.70 crore in FY 2023-24, and ₹511.83 crore in FY 2024-25, totalling ₹1,096 crore. The information was shared in response to questions raised by MPs Pulla Mahesh Kumar and Magunta Srinivasulu Reddy. Maharashtra Tops Crypto TDS Collection Finance Ministry data reveals that Maharashtra remains far ahead of all other states ...