PERM freeze: Indian IT stocks rally, but talent exodus looms

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Perfect storm: Sensex slips amid rising oil, bond yields

Brent crude prices surged to over $105 per barrel, affecting the Indian stock market negatively. The Sensex dropped 1,045 points, significantly impacting investor wealth by Rs 10 lakh crore. Foreign portfolio investors sold stocks worth approximately Rs 13,000 crore, marking a high level of outflows. The ongoing market decline has led to a nine-week losing streak, which could become the longest on record.

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Starlink entry row: Is Ambani the real boss of India, asks Elon Musk

Elon Musk has raised concerns about regulatory obstacles facing Starlink's introduction in India. He claimed influential figures might be hindering the process and questioned if Ambani controls the situation. In response, India's government reaffirmed its fair and non-discriminatory approach, rejecting Musk's allegations. Other companies like Reliance Jio and Eutelsat OneWeb are also vying for approval to offer satellite services.

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GST Council scraps tax officers' arrest powers, eases refund rules

The GST Council has proposed major procedural changes to enhance business operations and tax compliance. These reforms aim to streamline registration, refunds, and input tax credit processes while lowering compliance costs. Additionally, the council will remove officers' powers for arrests under the GST framework. Processing of refunds will be expedited, with a goal to resolve claims within three days.

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US sanctions Indian firms, individuals as Iran oil crackdown widens

On Thursday, the United States targeted two Mumbai-based companies over their alleged oil trade involvement with Iran. The sanctions affected five Indian nationals connected to SSPL Solutions Private Limited and Samudra Marine Services Private Limited. These measures are part of a broader crackdown on Iran under 'Operation Economic Outcast'. The U.S. government aims to curb Iranian oil revenues fueling military and cyber activities.

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Survey: 12% in India report being scammed in last 1 year

According to a recent GSMA survey, 12% of respondents in India reported being scammed recently. Online shopping scams are the most prevalent type among Indian consumers compared to other scams. The survey indicates that messaging apps are frequently used by scammers targeting Indian victims. GSMA highlights the increasing challenge of digital fraud on a global scale. Telecommunications operators in India are proactively working to combat these scams effectively.

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Rupee may be undervalued, markets can be irrational: RBI governor Sanjay Malhotra

RBI governor Sanjay Malhotra indicated that the rupee is undervalued and the central bank will intervene. The rupee closed at 96.78, down 36 paise from the previous day, hitting a five-month low. Malhotra mentioned that global AI stock corrections could attract foreign capital to India. Despite a robust services trade surplus, the current account deficit has widened due to increased merchandise trade deficit.

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