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Petroleum and oil marketing companies reduced the price of commercial LPG cylinders by Rs 91.50 per unit with immediate effect from Saturday, sources said. A 19 kg of commercial LPG cylinder will now cost Rs 2,028 in the national capital. However, no changes have been made in the prices of the domestic LPG cylinders, sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LEjv487

Russia's G20 sherpa Svetlana Lukash says there is no place and time in the all-powerful group to discuss one regional conflict that has dominated the minds of western nations. In an interview to TOI, she said many G20 countries are concerned about the banking crisis and it should be analysed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BuwY1Jq

India's new foreign trade policy, set to begin in April, will facilitate international trade using the rupee currency, according to Commerce Secretary Sunil Barthwal. The move will allow the nation to trade in rupees with countries facing a shortage of dollars, and will aim to effectively boost exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9DLWJpl

Among the Sensex firms, Reliance Industries emerged as the biggest gainer as it jumped over 3 per cent. HCL Technologies, ICICI Bank, Nestle, Tech Mahindra, Infosys, Power Grid, NTPC and Axis Bank were the other major winners. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5iCyaZN

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National Payments Corporation of India (NPI) MD and CEO Dilip Asbe on Thursday said G20 was a good platform to start conversations on taking UPI and other remittance and payment solutions globally. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6S4BJZ9

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Wall Street stocks climbed Thursday as markets calmed after recent banking sector turmoil. The Dow Jones Industrial Average rose 0.4 percent to 32,859.03, while the broad-based S&P 500 picked up by 0.6 percent to 4,050.83. The tech-heavy Nasdaq Composite Index jumped 0.7 percent to 12,013.47. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/80GQdbA

Advertisers continue to be wary of Twitter's changes under the ownership of Elon Musk. Major brands including Amazon, Coca-Cola, Hilton Worldwide, and Merck have yet to resume ad spending on the platform. Between September and October 2021, the top 10 advertisers on Twitter spent $71m on ads, but in the past two months, this figure has dropped to just $7.6m, a decline of 89%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TsQaYf

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Ajay Banga, an Indian-American businessman, is most likely to become the next President of the World Bank as the deadline for nominations expired with no alternative proposals. Banga, who served as the former chief of Mastercard Inc. and Vice Chairman at General Atlantic, is expected to replace the current president, David Malpass, who will step down in June. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/o4ZMKkw

Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities, energy, cement and data centres, to repay about $23 billion of debt over the next 3-4 years in a comeback strategy, sources said. Adani group executives have met bankers, bond holders, analysts and investors from Singapore to the US in the last three weeks to address stakeholders' concerns in the aftermath of a damning US short seller report that ripped off $135 billion in market value of listed companies of the conglomerate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dBmCgYb

India's largest conglomerates have contributed to elevated inflation in the country and should be broken up, according to former Reserve Bank of India deputy governor Viral Acharya. The so-called “Big 5” – Reliance Group, Tata Group, Aditya Birla Group, Adani Group and Bharti Telecom – have grown at the expense of smaller local firms. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7jtw6ZG

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Ratings agency Fitch said that Adani Transmission Ltd and Adani Ports and Special Economic Zone are prone to risks, according to a note released late on Tuesday. Seven listed firms of the Adani group have shed over $120 billion in market value since the publication of the Hindenburg report. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Rtm04qW

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Proposed measures include new wage, recruitment and attestation requirements for potential visa holders, and prioritisation of H-1B visas for those with a higher level of STEM education. Two influential Senators -- Dick Durbin and Chuck Grassley -- have introduced this legislation in the US Senate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l4Sh08H

Adani group's plans to renegotiate terms on $4 bn of loans have raised concerns over its ability to repay its debts, according to a report by The Economic Times that sent shares tumbling. It has also been suggested that regulatory filings show banks have not released much of Gautam Adani's pledged shares, but the statement claimed that all "share-backed facilities availed by the promoters have been paid off". from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kvohXNL

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Mutual fund firms are wooing retail investors who seek to avail of long-term tax benefits in debt funds in the last few days of the fiscal ending March 31, report Aseem Gujar & Partha Sinha. Last week, the government withdrew indexation benefits for investors in MF schemes that hold less than 35% domestic equity in their portfolio. The new norms will apply from April 1. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/v1ZNDWa

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Lyft founders Logan Green and John Zimmer will step down from their CEO and president roles to be replaced by board member David Risher. Risher, a former executive at both Amazon and Microsoft, will take charge of the ride-hailing firm amid pressure to better compete with larger rival Uber. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X8hepax

The S&P 500 closed up Monday, thanks to a deal that saw First Citizens BancShares buy Silicon Valley Bank. The acquisition will help to shore up the failed bank’s deposits and loans. Banks stocks enjoyed upward momentum with the S&P 500 banks index rising 3.1% and the KBW regional banking index up 0.6%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VY5eUTO

Walt Disney Co. has begun the first of what is expected to be 7,000 job cuts, a key part of a $5.5 billion savings drive the company announced in February. The first group of employees will be notified over the next four days, chief executive officer Bob Iger said in a memo to staff on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cG13Uxw

Oyo Hotels is reducing the shares it plans to sell in its stock-market debut by about two-thirds, as founder Ritesh Agarwal aims to push through an IPO even at weaker terms to alleviate the financial pressures on the company, which is still reporting mounting losses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q5wsjib

First Citizens BancShares Inc has agreed to buy Silicon Valley Bank after the latter fell prey to a run by depositors. First Citizens entered into a purchase and assumption agreement covering all deposits and loans of SVB at a discount of $16.5 billion, as well as the purchase of $72 billion SVB assets. FDIC will be selling off securities and other assets, amounting to around $90 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eDtvhMs

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Drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an "IT security incident" that happened earlier this month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cGD63Rv

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A year ago, lenders were wooing homebuyers with a decadal low-interest rate of 6. 5%. But in the last 10 months, home loan borrowers have seen a sharp 250-basis-point (100bps = 1 percentage point) increase in interest rates. Those who borrowed at 6. 5% in April 2022 are now billed 9%, resulting in their repayment tenure extending beyond retirement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/u4109By

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“I think we’ve done a pretty damn good job. People’s savings are secure,” Biden said during a press conference on Friday in Ottawa alongside Canadian Prime Minister Justin Trudeau. “I think it’s going to take a little while for things to just calm down, but I don’t see anything that’s on the horizon that’s about to explode.” from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3W8RdDU

Apple CEO Tim Cook attended the China Development Forum and highlighted the company’s ties to China, despite growing tensions between Beijing and Washington. Apple depends on China for around 20% of its sales, and Cook's relationship with the Chinese government is seen as crucial to maintaining this. However, the partnership has faced criticism over compliance with Chinese laws on censorship and data storage. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VGpzeDR

Wall Street managed to shake off a weak start on Friday and closed on a higher note despite concerns over banks weakening under higher interest rates. The benchmark S&P 500 rose 0.6%, the Dow Jones Industrial Average rose 0.4% while Nasdaq Composite ended 0.3% higher. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6a1bxMq

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India is on the brink of surpassing China as the world's biggest driver of oil demand growth on the back of demographic factors such as population growth, which means the country is expected to maintain a reliance on fossil fuels for much longer. China's role as the engine of global oil demand growth is fading fast, highlighting the importance of India as an attractive long-term prospect for overseas producers looking to tap into the energy market. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9edjbBZ

Dorsey’s fortune plunged by $526 million on Thursday, his worst single-day decline since May. He’s now worth $4.4 billion after the 11% drop, according to the Bloomberg Billionaires Index. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/otgxhWq

TikTok’s CEO, Shou Zi Chew, was grilled by US lawmakers for nearly six hours over data security and harmful content concerns. Republican and Democratic lawmakers pressed Chew on a host of issues, including TikTok's content moderation practices, data security, and spying on journalists. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EFxBZwd

Wall Street rebounded after US Treasury Secretary Janet Yellen reassured that measures would be taken to keep Americans' deposits safe, boosting growth shares in the Nasdaq. The Dow Jones Industrial Average rose 75.14 points, or 0.23%, to 32,105.25, the S&P 500 gained 11.75 points, or 0.30%, to 3,948.72 and the Nasdaq Composite added 117.44 points, or 1.01%, to 11,787.40. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ChjrkJ1

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Wall Street stocks fell following the US Federal Reserve's continued interest rate hikes to tackle rising inflation, with concern mounting that instability in the banking sector could slow economic activity. The Dow and tech-heavy Nasdaq both ended 1.6% lower, while the S&P 500 shed 1.7%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Cj8f1Q

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