Amidst escalating West Asian tensions, the UAE assures its markets and food reserves are secure. Authorities are actively monitoring supplies and maintaining price stability, with robust strategic reserves and diversified import routes. Residents are urged against panic buying, as the nation's preparedness ensures everyday life and commerce remain unaffected by regional strains.
The Central Bank of the UAE has launched the world's first sovereign financial cloud services infrastructure, a secure, AI-powered digital backbone for its financial sector. Developed with Core42, this initiative ensures national control over data, integrates advanced AI for enhanced operations and offers unified multi-cloud management, positioning the UAE as a leader in secure digital finance.
At 80, Silicon Valley pioneer Kanwal Rekhi shares his inspiring journey in 'The Ground Breaker'. From humble beginnings in India to becoming the first Indian-American founder to take a venture-backed company public on NASDAQ, Rekhi's memoir details his rise and lifelong mission. He now mentors thousands, investing in startups and fostering entrepreneurial growth globally through TiE.
HDFC, SBI control nearly half of total payments by value; top 5 tighten hold
Russian and Iranian oil producers are offering deeper discounts to Chinese buyers as India reduces its purchases. Analysts note China's independent refiners are nearing capacity, leading to unsold oil piling up. This situation impacts Russia's war funding and Iran's export efforts amid geopolitical tensions.
US President Donald Trump's second term sees a mixed economic picture: strong growth and tech investment clash with stalled job gains and inflation worries. Supreme Court's tariff ruling adds uncertainty. While manufacturing output rises, factory jobs decline. Affordability remains a concern for households despite overall economic momentum.
Patent of key input to expire on March 20, pharma companies ready with generic versions
Bank appoints KPMG for forensic audit | CEO expects lender to remain profitable
Inconsistent policies in US seen as 'new normal'; companies fear buyers may seek discount review
IDFC First Bank reported a Rs 590 crore discrepancy in Haryana government deposits at its Chandigarh branch, suspending four employees. The bank has initiated a forensic audit and is working with other banks to recover funds. This disclosure follows Haryana's directive for departments to close accounts with specific private lenders due to suspected financial irregularities.
Prime Minister Narendra Modi will inaugurate the Meerut Metro and Namo Bharat RRTS on Sunday. This marks the full operationalisation of the 82-km Delhi-Meerut corridor. The integrated network promises faster travel between cities and within Meerut. It aims to reduce travel time significantly, boost connectivity, and lower carbon emissions.
Piyush Goyal said India is looking to broaden its sourcing of crude oil and coking coal and would welcome supplies of premium-quality coking coal from the United States.
Adani Group plans a massive $100 billion investment by 2035 to establish renewable energy-powered, AI-ready data centers across India. This initiative aims to foster a $250 billion AI infrastructure ecosystem, building on existing partnerships and expanding renewable energy capacity to support India's ambition as an AI hub.
US stocks saw mixed trading as consumer confidence dipped and AI's impact on earnings remained a concern. General Mills and Genuine Parts faced significant drops due to weak consumer sentiment and company forecasts. Meanwhile, Warner Bros. Discovery saw gains amid buyout talks, while Big Tech stocks experienced volatility, raising questions about AI investment returns.
India is offering agricultural quotas in an interim trade deal with the US, aiming for a March signing. Officials state these quotas are small and align with current imports, designed to boost Indian textile exports. The agreement, focusing on agricultural goods and potentially digital services, is being finalized in Washington.
Contrary to fears, generative AI isn't causing mass layoffs in India's IT sector. A new ICRIER-OpenAI study reveals AI is boosting productivity and transforming roles, not replacing workers. While entry-level hiring has seen a slight dip, mid and senior positions remain stable, indicating a shift towards skill enhancement rather than job elimination.
Over Rs 72,000 crore in unclaimed bank deposits, untouched for a decade, have been transferred to the RBI's Depositor Education and Awareness Fund. Public sector banks hold the largest portion. The government has launched UDGAM to help people trace their money and introduced measures to prevent further accumulation, aiming to boost financial literacy.
Brands are introducing protein-rich products to meet growing health consciousness in India. Starbucks now offers protein-infused cold foam for iced drinks. This move aims to integrate wellness into daily routines. A standard iced coffee already contains significant protein, and the added foam boosts it further. Starbucks is also providing zero-sugar options. This trend targets health-aware consumers who value their lifestyle.
Tata Steel expects domestic steel prices to rise this quarter, while its CFO highlights margin protection amidst a challenging year. The EU's carbon border tax is seen as a positive for Tata Steel's European operations, leveling the playing field for carbon costs.
Dalal Street anticipates a strong opening on Monday as the US-India trade deal nears completion. Positive sentiment is fueled by Gift Nifty's rise and recent constructive developments, including agreement on bilateral trade areas. Analysts foresee increased exports, job creation, and potential foreign investment, boosting market confidence after a volatile week.
The income tax department has released draft rules aimed at simplifying tax filing and compliance for individuals and companies, effective April 1. These rules emphasize faceless assessments and reduced disputes, with simplified language and redesigned forms for easier taxpayer understanding. The draft is open for public feedback until February 22.
The RBI is set to introduce new rules to protect bank customers. Small digital fraud victims could receive up to Rs 25,000 compensation. Stricter guidelines will also target mis-selling of financial products and aggressive loan recovery practices. These measures aim to enhance consumer safety amidst growing cyber risks and unfair sales tactics.
India has not been buying crude oil from Iran since mid-2019 after the US ended waiver for sanctions on Iran crude. Around 35-40% of India’s...
