Economy

Brent crude slipped toward $98 a barrel on Wednesday, extending its decline to a sixth straight session and taking losses over the six-day run to more than 9%. West Texas Intermediate futures fell below $90.

Collins warned that the likelihood of inflation staying “notably above 2%” has increased, keeping price stability at the centre of the Fed's policy debate.

Petrol, diesel prices remain steady across major cities as crude stayed below $100 a barrel amid geopolitical uncertainty.

From Oct. 15, a 0.4% MDR will apply to person-to-merchant UPI payments above Rs 2,000. The charge will be paid by merchants, not consumers, and will be capped at Rs 300 for transactions of Rs 75,000 or more.

US Treasury Secretary Scott Bessent says sanctions will make it difficult for Iranian carriers to secure fuel, landing services and ticketing worldwide.

The output expanded by 6.2% in the same month last year and by 5% in July this year.

It said negotiations for the upcoming bipartite settlement have also begun ahead of the November 2027 deadline, with the stated aim of completing the process well in advance.

RBI data shows FCNR-B deposits made up the bulk of inflows, helping strengthen India's foreign exchange liquidity.

The association has warned that if the issue is not resolved, dealers could collectively discontinue UPI payment facilities across petrol pumps in Mumbai from October 15.

The Trump-Xi summit on September 24 is less about achieving a grand ideological harmony and more about managing strategic competition. For the global economy, the stakes are binary.

Brent crude traded around $104 a barrel, while West Texas Intermediate remained below $100 after falling for three consecutive sessions.

The increase in mortgage rates comes as inflation remains elevated and log-term bond yields have risen, factors that can influence the cost of home loans. Home shoppers holding out for relief from rising mortgage rates may be in for a long wait.

Saudi Arabia ended formal participation in China-led mBridge after completing a digital currency test in May 2025, as global efforts expand to develop faster cross-border payment systems beyond the dollar.

India’s exports to major BRICS economies, Japan, Italy and South Korea surged in April-August 2026-27, driven by strong demand for fuels, electronics, metals and industrial goods.

India's semiconductor push is attracting billions in investment, but Ashwini Vaishnaw has urged chipmakers and deeptech startups to prepare for cyberattacks and disruptions.

The prime minister said that the talent and skills of India's youth have won the trust of the entire world, which has great expectations from Indian innovators, entrepreneurs and the country's youthful strength.

The conference brought together state finance ministers and officials to discuss the macroeconomic outlook, agricultural transformation and financing the energy transition.

Under recovery surged even as government paid OMCs compensation of Rs 30,000 crore during FY 2025-26 and FY 2026-27.

Canada is optimistic about concluding the India trade deal by year-end, with talks also covering LNG, nuclear energy and critical mineral investments.

Beijing says the September 19-23 consultations will focus on economic and trade issues of mutual concern, as tariffs, AI and rare earths remain key sticking points.