Economy

Earlier this week, President Donald Trump announced that the United States had secretly transported 100 million barrels of oil through the Strait of Hormuz

In the previous reporting week, the overall reserves had jumped $938 million to $682.321 billion.

If crude oil prices breach the $100 per barrel mark, India's economic growth could moderate to 6%, Nageswaran said.

The uptick comes amid rising fuel prices, as rates of petrol and diesel, along with LPG and CNG, were revised multiple times last month.

The IPO of Space Exploration Technologies Corp., as the rocket, satellite and artificial-intelligence company is formally called, drew more than $100 billion of orders from retail investors, people familiar with the matter have said.

While the legislation has twice passed the National Assembly, it remains far from becoming law. The French government opposes the move, ArcelorMittal rejects the rationale behind it, and the Senate has already voted against the proposal once.

India-Israel FTA: The next phase of face-to-face negotiations was initially intended to take place earlier, but the ongoing conflict in West Asia altered the timeline, pushing the high-level meeting to later this summer.

SpaceX launched the largest IPO ever, raising seventy five billion dollars and achieving a valuation of 1.77 trillion dollars, making it one of the top ten public companies globally.

The newly operationalised system establishes a direct link between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI).

He urged states to focus on emerging sectors such as data centres and artificial intelligence, emphasising that AI should be viewed as an opportunity rather than a challenge.

Piyush Goyal will visit Berne, Switzerland, on June 12 for discussions with senior representatives of the Swiss government and leaders of the Swiss pharmaceutical industry.

The World Bank cut its global growth forecast for 2026 to 2.5%, the slowest pace since the Covid-19 pandemic.

China's excess capacity, heavy industrial subsidies, manufacturing surplus, and reluctance to leave space for other countries mean that many developing economies now compete with China in the same export markets.

Officials clarified that the move does not amount to a reduction in excise duty on petrol sold for domestic consumption.

The ECB came close to acting in April and even some of its most dovish policymakers suggested in the run-up to this week's meeting that there's now no real alternative.

Initial claims increased by 4,000 to 229,000 in the week ended June 6, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 220,000 applications.

Giriraj Singh highlighted the importance of free trade agreements, particularly with the European Union and the United Kingdom, for enhancing India's competitiveness.

The government has initiated consultations with banks and other stakeholders to examine ways to unlock gold available within the domestic ecosystem, sources say.

RBI also proposed treatment for deferment of option premium, guidance on computation of effective notional for options, and inclusion of disclosure templates for Standardised Approach for Counterparty Credit Risk.

Forerunner Capital Investments' licence was surrendered due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that do not require registration.