Nvidia’s financial ties with Elon Musk’s SpaceX have come into focus after the chipmaking giant disclosed that it owns nearly 123 million shares in the rocket company. The stake was worth almost $21 billion at the end of June, but has since fallen to about $17 billion as SpaceX shares dropped sharply following its June…
RBI introduced the special USD-INR forex swap facility on June 8, 2026 MUMBAI: RBI has decided to close the special FCNR(B) scheme a month early on Aug 31 after banks mopped up $52.3 billion in deposits by Aug 13. The central bank’s decision follows a strong response to the facility, which was designed to bring…
Most of the quarter was marked by average 8-10% raw material cost hike NEW DELHI: The consumer goods sector is seeing signs of a firmer consumption recovery, with volume growth becoming more visible across companies, even as cost pressures remain. This comes as the West Asia conflict has pushed up crude-linked inputs, packaging and freight…
Claude recorded the sharpest growth among major GenAI apps during the June quarter NEW DELHI: India’s AI-app race is getting more competitive. While ChatGPT continues to dominate user engagement and spending, Gemini is gaining ground and Claude is emerging as a fast-growing challenger, according to data from market intelligence firm Sensor Tower.Claude recorded the sharpest…
Petrol export levy cut to nil, diesel and ATF duties retained The government has scrapped the export levy on petrol for the next fortnight while continuing to charge duties on diesel and aviation turbine fuel (ATF), according to a ministry of finance notification issued on Friday.The revised rates will take effect from August 15, with…
PM Modi on Saturday led the country’s 80th Independence Day celebrations at the Red Fort. India has become the world’s fastest growing major economy in the world in the last twelve years, Prime Minister Narendra Modi said during his Independence Day speech on Saturday.He also said that India has achieved this milestone despite being ranked…
PM Modi said that nearly 99% of India’s coastal waters had earlier been classified as “no-go areas”. Prime Minister Narendra Modi on Saturday said India has opened up almost its entire coastal waters for exploration as part of efforts to identify new mineral reserves. PM Modi during his Independence Day speech said most of these…
PM Modi noted that semiconductor chips have become indispensable across sectors. Prime Minister Narendra Modi on Saturday said India has started production at three semiconductor manufacturing plants, adding that another seven to eight facilities are expected to become operational in the coming years.Speaking from the ramparts of the Red Fort during the 80th Independence Day…
PM Modi highlighted the expansion of the country’s piped natural gas network. Stressing on the need for energy security, PM Narendra Modi in his Independence Day speech said that due to the government’s measures there is no shortage of gas, fuel, and urea in the country today. His statement comes amidst the ongoing US-Iran conflict…
This is the third consecutive month when wholesale inflation has remained over 9% NEW DELHI: Driven by softer energy prices, wholesale price index (WPI) based factory gate inflation moderated to 9.8% in July from a 27-month high of 9.9% in June, official data showed. In comparison, WPI stood at -0.8% in July last year.This is…
