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Finance minister Nirmala Sitharaman on Wednesday hailed the National Pension System (NPS) saying that it has emerged as a high performing and cost effective retirement planning tool, with some of the best returns among global pension products.Speaking at the NPS Diwas conference in New Delhi, organised by the Pension Fund Regulatory and Development Authority (PFRDA),…
ChatGPT maker OpenAI’s valuation has surged to $500 billion after employees and former staff cashed out $6.6 billion worth of shares in a secondary sale, a source familiar with the deal told Reuters. With this valuation, the AI giant has left behind SpaceX and ByteDance.The transaction lifts the artificial intelligence company’s value from $300 billion…
The European Union is preparing to increase tariffs on steel imports as part of a push to protect local producers from cheap Asian steel and new trade barriers from the United States.The European Commission is expected to unveil a permanent plan next week, which will also slash the EU’s existing steel quotas for foreign steel…
India’s oil market is seeing a mixed approach as state-owned and private refiners take contrasting strategies on Russian crude.State-run companies have cut back sharply while private refiners continue to take in supplies. In September, they imported an average of 605,000 barrels per day (bpd), 32% below their April–August average, 22% lower than August, and 45%…
MUMBAI: RBI has announced measures to promote internationalisation of the rupee, aiming to expand its use in trade, financing, and investment while reducing dependence on the dollar. The move comes even as the US is pressurising emerging markets from moving against the dollar.Financial Benchmarks India (FBIL) will publish reference rates for select currencies of India’s…
South Korea and the United States have reached a preliminary agreement on security, as both countries continue to negotiate trade and tariff issues, according to Yonhap news agency.In an interview published on Thursday, South Korean foreign minister Cho Hyun said that the US is currently reviewing a currency swap deal, a key demand from Seoul…
Inflation in FY26 and FY27 is expected to remain far below the Reserve Bank of India’s (RBI) estimates, according to a new report by the State Bank of India (SBI).The report cited several factors that will help to soothe price pressures, including a strong monsoon, higher kharif crop sowing, healthy reservoir levels, ample foodgrain stocks,…
NEW DELHI: GST collections rose 9.1%, the fastest pace of expansion in four months, to Rs 1,89,017 crore in Sept, indicating that the impact of the announcement of a rate reduction did not significantly dent sales.Domestic collections in Sept — for transactions in Aug — were up 6.8% to Rs 1,36,525 crore as consumers deferred…
MUMBAI: RBI’s monetary policy committee on Wednesday unanimously voted to keep the repo rate unchanged at 5.5% with a neutral stance, while hiking FY26 growth forecast to 6.8% from 6.5%.“Since we last met in June, inflation has come down by about 1%. It is now at 2.6–2.7% compared with our earlier forecast. That’s the reason…
Tesla owner Elon Musk has set a new record, becoming the first person ever to build a fortune of almost $500 billion. The surge comes on the back of a rebound in Tesla’s stock and soaring valuations of his other ventures, including SpaceX and xAI.Forbes’ billionaires index put Musk’s net worth at $500.1 billion as…
