Economy

The Strait of Hormuz, located between Oman and Iran, is a key global maritime chokepoint through which a significant share of the world's oil, refined petroleum products and liquefied natural gas shipments pass.

Given the expected rise in inflation, S&P Global believes the RBI will begin raising the repo rate from October, marking the start of monetary policy tightening in the second half of the financial year.

Banks could offer leverage that may run into double digits, officials said, as India taps its 35-million-strong diaspora for support to shore up foreign currency buffers amid the US-Iran war.

Meta CEO Mark Zuckerberg has tasked a team to develop Arena, a prediction market app with a points-based system, allowing users to engage in live event predictions without real money stakes.

Jefferies cautioned that current FCNR(B) rates and investor returns remain relatively low, which could limit deposit inflows. Citi was more bullish on the implications of the RBI's clarification, describing it as a fundamental shift in the nature of the scheme.

Government says no widespread engine failures linked to E20 petrol; warns against misleading social media posts, recycled videos and misinformation around ethanol-blended fuel.

Iran and Oman "agreed to maintain their dialogue on this issue through a joint working group", according to an official statement.

The move could potentially put extra pressure on international fuel supplies.

India has rolled out a series of measures to promote domestic manufacturing in the solar sector.

The applicant has alleged that the cheap imports of 'Cold Rolled Grain Oriented Electrical Steel and Amorphous Metal' is significantly harming the domestic industry.

According to CAG, Kerala's revenue receipts for 2023-24 stood at Rs 1,24,486.15 crore, comprising Rs 90,674.97 crore in the state's own revenue and Rs 33,811.18 crore received from the central government.

US Embassy says India-US trade pact will boost manufacturing, energy and technology cooperation while advancing economic growth for both nations

If we focus only on values, we may ignore incentives and end up creating shortages, black markets, or unintended consequences. If we focus only on economic efficiency, we risk overlooking dignity, fairness, and exploitation.

Released ahead of GST completing 9 years on July 1, Deloitte India's GST@9 survey called for the next phase of reform to move beyond digitalisation to an AI-driven compliance and data-led dispute reduction.

US cargoes account for nearly two-thirds of India's LPG imports in June as supplies from West Asia remain disrupted.

China's sweeping education overhaul prioritises AI and robotics, underscoring the need for India to accelerate reforms, upskilling and R&D investment.

The RBI also clarified that under the special swap facility, it will bear the hedging cost only on the principal amount of eligible FCNR(B) deposits and not on the interest component.

US President Donald Trump on June 17 said that the two countries are "very close" on the finalisation of the trade agreement.

CEA Nageswaran expects the current account deficit (CAD) to hover comfortably between 2.0% and 2.2% of GDP, provided oil prices remain benign.

The programme builds on reforms undertaken in recent years, including tax simplification, trade integration, regulatory changes, and measures to improve the business environment, the World Bank said.