In a significant policy move aimed at safeguarding foreign exchange reserves and stabilizing the domestic currency, the Government of India has increased the import duty on gold and silver from 6% to 15%. The decision comes against the backdrop of escalating geopolitical tensions in West Asia and mounting pressure on India’s forex reserves. Officials indicated...
OpenAI has announced the creation of a new business-focused division aimed at accelerating the adoption of artificial intelligence solutions across global enterprises. The move, supported by a massive $4 billion investment, signals the company’s growing commitment to expanding beyond consumer-facing AI tools and strengthening its position in the rapidly evolving corporate technology market. The newly...
Rising Global Tensions Ripple Through Bangladesh Economy Ongoing disruptions linked to the Iran conflict are creating significant economic pressure in Bangladesh, pushing up the cost of imports while simultaneously weakening export performance. The resulting imbalance is affecting key industries, household incomes, and overall economic stability in one of South Asia’s most trade-dependent economies. Economic analysts...
Gold prices witnessed a significant decline in domestic bullion markets on Monday, while silver registered strong gains as investors reacted to mounting geopolitical uncertainty in West Asia and shifting global economic signals. The sharp movement in precious metal prices came amid heightened concerns over rising crude oil prices, inflationary pressures, and uncertainty surrounding global monetary...
Finance Minister Nirmala Sitharaman said that the recent India–European Union summit has given renewed momentum to the strategic partnership between the two sides, strengthening cooperation across trade, investment, technology, and global governance frameworks. She noted that the high-level engagement reflected a shared intent to deepen bilateral ties at a time when the global economy is...
The parent company of Truth Social, the social media platform closely associated with U.S. President Donald Trump, has reported a staggering quarterly loss exceeding $400 million, highlighting the growing financial pressures facing the company amid ongoing volatility in the cryptocurrency market. Trump Media & Technology Group (TMTG), the company that owns and operates Truth Social,...
Godrej Aerospace is aiming for a significant business expansion this fiscal year, projecting nearly 30% growth in revenue as demand accelerates across India’s defence, aerospace, and aviation industries. To support its growing order pipeline and long-term manufacturing ambitions, the company has announced plans to establish a new production facility outside Mumbai. The move reflects the...
India’s Global Capability Centres (GCCs) are undergoing a significant transformation, evolving from traditional back-office support hubs into strategic innovation engines for multinational enterprises. These centres are increasingly being entrusted with high-value responsibilities in artificial intelligence development, product engineering, and technology governance, reflecting a broader shift in how global corporations structure their digital operations. Once primarily...
The Indian rupee came under significant pressure in early trading on Wednesday, declining by 28 paise to reach 94.77 against the US dollar in the interbank foreign exchange market. The sharp fall reflected mounting global uncertainties, persistent demand for the American currency from importers, and cautious investor sentiment in international financial markets. Currency traders indicated...
Global IT services company Cognizant is reportedly preparing for a significant workforce reduction, with plans to lay off approximately 15,000 employees as part of a broader restructuring initiative aimed at improving operational efficiency and aligning with evolving business priorities. The restructuring exercise is understood to be part of the company’s ongoing efforts to streamline its...