India steps up Russian oil buying; crude imports from Moscow rise in May: Report

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Hardeep Singh Puri says India has over 60 days of crude, gas stocks; rules out any energy supply crunch

India assures ample energy supplies, with over 60 days of crude oil and natural gas reserves. Domestic LPG production has significantly reduced import reliance, ensuring 75-80 days of stock. Despite global price hikes due to the Iran conflict, India has kept domestic fuel prices stable, even seeing a slight decrease due to excise duty cuts.

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Reinsurance buffers crash claim, Tata AIG logs Rs 1,008 crore profit

The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a 45% share of the risk. “We fully provided for it in that same quarter itself. Net of reinsurance, our exposure was less than Rs 50 crore,” said Amit Ganorkar, MD & CEO, Tata AIG General.

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Tu cheez badi hain....Musk Musk: A small step for SpaceX, a giant leap to a trillion for Elon

Elon Musk has achieved a historic milestone by becoming the world’s first trillionaire, driven by the soaring valuation from SpaceX’s IPO. His vision for reusable rockets and interplanetary colonies has captured the imagination of investors, turning space exploration into an enticing financial frontier. This remarkable shift in wealth underscores a new chapter in capitalism, expanding its reach beyond conventional sectors.

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Centre opens radio spectrum to accelerate deployment of vehicle collision-avoidance systems

India has removed licensing for crucial radio spectrum bands, specifically 77-81 GHz for automotive radar and 5.9 GHz for V2X communications. This move aims to accelerate the adoption of advanced road safety and collision-avoidance systems, aligning India with global standards and potentially reducing vehicle manufacturing costs. The initiative is expected to significantly enhance vehicle safety and reduce road fatalities.

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Rupee rebounds 67 paise to 95.18 against US dollar as oil prices tumble on Iran deal hopes

The Indian Rupee experienced a significant surge, climbing 67 paise to close at 95.18 against the US dollar. This robust recovery was primarily fueled by a sharp decline in global crude oil prices, following US President Donald Trump's indication of an imminent deal with Iran. Positive domestic equity market trends and a weaker US dollar further bolstered the rupee's performance.

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India central to EY’s AI strategy: Truncale

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