Oil prices rise for second day. Oil prices today: Oil prices rose for a second consecutive session on Tuesday as concerns over potential disruptions to Middle East supplies due to the US-Iran conflict outweighed signs of recovering crude exports from the region.At 8:28 am IST, Brent crude was trading at $106.86 a barrel, up $1.58,…

MUMBAI: Thanks partially to Monday’s sell-off on Dalal Street, the stock price of recently listed NSE slid below its IPO price for the first time and closed at that level. With foreign funds leading the day’s sell-off, sensex lost 1,124 points (1.5%) to close at 72,771 points, nearly a six-month low level. And on NSE,…

MUMBAI: Private equity (PE) money is chasing the events and experiences economy in India-think KKR’s bet on ticketing and live entertainment platform BookMyShow or Blackstone’s investment in an Indian Premier League (IPL) franchise. Young consumers are now driving household spends and they are allocating a big chunk of their budgets to experiences.Consider this: at Travis…

Sebi orders Growpital to shut down MUMBAI: Markets regulator Sebi has ordered Growpital Platform, an unauthorised collective investment scheme (CIS) that had mobilised about Rs 192 crore to invest in agricultural farms for tax-free returns to investors, to wind up and return investors’ money along with 12% interest. Twenty eight entities associated with Growpital have…

Pension Fund Regulatory and Development Authority (PFRDA) Chairperson S. Ramann MUMBAI: To ensure regulatory guardrails around pension products while giving customers greater choice, Pension Fund Regulatory and Development Authority plans to roll out a suitability platform that will assess NPS subscribers’ risk appetite and ask suitability-related questions before they select a scheme.“Suitability and risk appetite…

IIP surges 8% in August, nearly doubles year-ago growth on manufacturing, power boost NEW DELHI: Industrial production rose 8% in Aug as against 4.7% expansion recorded a year ago, on account of robust growth in manufacturing and electricity sectors.Sequentially also, industrial production witnessed acceleration from an upward revised figure of 7.4% in July, latest data…

UAE investors plan fresh $25 billion India bet, aim to take total to $100 billion: Goyal MUMBAI: Union minister of commerce Piyush Goyal said UAE investors have expressed intent to invest another $25 billion, on the back of $25 billion already invested, with an eventual objective of taking investments in India to $100 billion.Citing the…

Piyush Goyal to meet US counterparts on trade deal during G20 visit NEW DELHI: Commerce and industry minister Piyush Goyal, who will visit the US for the meeting of G20 trade ministers, will meet his American counterparts to discuss the bilateral trade deal.The two sides have been engaged on the issue but a final outcome…

NEW DELHI: “Safety, reliability, profitability and pursuing disciplined and sustainable growth.” Air India‘s CEO and MD (proposed) Tewolde Gebremariam on Monday set these priorities out for the struggling airline group in his first Town Hall with employees. Apart from widening losses, AI’s safety practices and alleged lack of discipline among crew are under the scanner…

Internal dispute has also affected Tata Sons’ leadership MUMBAI: Weeks after Reserve Bank of India directed Tata Sons to comply with upper-layer NBFC-CIC norms, Tata Trusts chairman Noel Tata has proposed merging two subsidiaries, Tata Electronics Systems (TES) and Tata Consulting Engineers (TCE), with the 109-year-old holding company to take it outside the RBI’s regulatory…