MUMBAI: Gold jewellery has not lost its sheen but it may be going out of reach for average Indians as high prices of the yellow metal are pushing people to spend less on new pieces and only stick to essentials. While sales volumes or the amount of gold sold are dropping, sales value, driven by…
Will lead a central bank oriented toward reform, says new chair WASHINGTON: Kevin Warsh was sworn in as chair of the US Federal Reserve on Friday at a pivotal moment for an American economy where surging gasoline prices due to the Iran war are pushing up inflation and eroding consumer sentiment, potent ingredients for a…
MUMBAI: Domestic economic activity exhibited resilience in April, with industrial and services sectors maintaining strength across several segments, even as global uncertainties and geopolitical tensions continued to cast a shadow, RBI said in its latest State of the Economy article.At the same time, the central bank struck a note of caution, stating that “India’s near-term…
India’s gold demand is likely to decline by 50-60 tonnes in calendar year 2026, or about 10 per cent lower than the previous year, following the recent increase in import duty, according to the World Gold Council (WGC), PTI reported. In its India gold market update, WGC said: “Looking at 2026 as a whole, we…
State Bank of India (SBI) branches will function normally on May 25 and 26 after the proposed two-day nationwide strike by employees was deferred following discussions between bank management and union representatives, PTI reported.SBI, in a customer advisory, said the proposed strike by the All India State Bank of India Staff Federation (AISBISF) had been…
Every major oil shock has left a mark on India, sometimes through inflation, sometimes through foreign exchange pressure, and occasionally through wider economic change. The country’s 1991 balance-of-payments crisis unfolded against a backdrop of rising oil prices. High crude costs later pushed difficult conversations around subsidies, fuel deregulation and energy security. More recently, shifts in…
The Reserve Bank of India (RBI) has announced a record dividend payout of Rs 2.87 lakh crore to the government for FY 2026-27. The payout comes at a time when the economy is dealing with the effects of the US-Iran war and global oil price shock. The dividend announced on Friday is the highest ever…
US stocks moved higher on Friday, putting Wall Street on course for an eighth consecutive weekly gain as easing pressure from the bond market lifted investor sentiment, AP reported.The S&P 500 rose 0.6 per cent and moved closer to the all-time high it touched last week. The Dow Jones Industrial Average climbed 307 points, or…
Vinod Khosla; Anand Desai TOI correspondent from Washington: If the dotcom era gave investors dreams of effortless millions and the crypto boom offered visions of digital billions, the coming IPOs of SpaceX and OpenAI – likely in June and September respectively – promise something more intoxicating: trillion-dollar fantasies wrapped in Silicon Valley superlatives. One company…
US Federal Reserve Governor Chris Waller has joined a growing group of policymakers calling for the central bank to signal that its next move may not necessarily be an interest rate cut as inflation pressures remain elevated, AFP reported.The comments come as the US economy continues to grapple with stubborn price pressures, with consumer inflation…