Gaurav Bansal

[ad_1] LONDON: Britain will invest £1.5 billion ($2 billion) in new weapons factories to ramp up defence production capacity, the government said on Saturday, ahead of a major review of its armed forces and military strategy.The Strategic Defence Review, due to be published Monday, will assess the threats facing the UK amid Russia's ongoing war in Ukraine and pressure from US President Donald Trump for NATO allies to bolster their own defences.In February, UK Prime Minister Keir Starmer committed to increasing defence spending to 2.5 percent of GDP by 2027, up from its current 2.3 percent.The Labour leader also aimed to hike spending to three percent by the next parliament, due around 2029. The review will recommend "creating an 'always on' munitions production capacity in the UK" which would allow weapons production to be "scaled up at speed if needed".It […]

[ad_1] NEW DELHI: Despite a muted trend in the equity market, four of the top 10 most valued Indian companies added a combined Rs 1,01,369.5 crore to their market valuation last week, with Life Insurance Corporation of India (LIC) emerging as the top gainer. The BSE benchmark, however, slipped by 270.07 points or 0.33% during the same period. HDFC Bank, Bharti Airtel, State Bank of India and LIC witnessed gains in market valuation,LIC's market valuation increased significantly by Rs 59,233.61 crore to Rs 6,03,120.16 crore, marking the highest gain among the top-10 companies.State Bank of India's valuation grew by Rs 19,589.54 crore to Rs 7,25,036.13 crore.Bharti Airtel's market capitalisation (mcap) increased by Rs 14,084.2 crore to Rs 10,58,766.92 crore, while HDFC Bank's value rose by Rs 8,462.15 crore to Rs 14,89,185.62 crore.In contrast, six other firms - Reliance Industries Ltd, […]

[ad_1] NEW DELHI: India is set to witness a sharp rise in demand for Artificial Intelligence (AI) professionals, with reports projecting a need for one million skilled workers by 2026.As the nation aims to become a $23–35 trillion economy by 2047, higher education—especially in engineering—is being reshaped to keep pace with the fast-changing job market driven by AI, automation, and innovation across disciplines, as detailed in the report 'India's AI Revolution: A Roadmap to Viksit Bharat', issued by the Union Ministry of Electronics & IT.Engineering is at the center of this shift. According to the All-India Council for Technical Education (AICTE), the number of approved B.Tech seats for 2024–25 has increased to 14.9 lakh, a 16% rise over the past four years. This growth is mainly due to a surge of over 50% in seats for Computer Science and related […]

[ad_1] Representative image (Picture credit: AP) NEW DELHI: Doubling of import duty on steel and aluminium by the Trump administration will dent export demand, with companies having to scout for alternative markets.Several US importers have gone slow on fresh orders as costs went up significantly after the imposition of 25 per cent duty, although India was not seen to be worse off, given that the same duty applies to all countries. But if Trump decides to move ahead with his threat, several American firms will have to slow down production as such duties are seen to be unviable and unsustainable. This will also reduce demand for inputs."The economic impact will be significant. US steel prices are already high, at around $984 per metric tonne - far above European prices at $690 and Chinese prices at $392. The doubling of tariffs […]

[ad_1] China's manufacturing activity shrank in May for the second month running, official data showed Saturday, despite Beijing reaching a temporary ceasefire in a blistering trade war with the United States.Beijing and Washington agreed this month to pause staggeringly high tariffs, although US President Donald Trump on Friday accused China of breaching the de-escalation deal.While the two sides reached a temporary truce in mid-May, China recorded a contraction in factory output for the month. The Purchasing Managers' Index -- a key measure of industrial output -- came in at 49.5, according to the National Bureau of Statistics (NBS).The reading was up from April's 49 but fell short of the 50-point mark that separates growth and contraction.China's overall economic output in May "continued to expand", NBS statistician Zhao Qinghe said in a statement. According to some "US-related enterprises", foreign trade orders […]

[ad_1] NEW DELHI: IndiGo has announced the launch of direct daily flights between Mumbai and Adampur (Jalandhar), Punjab, starting July 2, 2025. This marks Adampur as the airline’s 92nd domestic and 133rd overall destination.The new route aims to offer convenient travel options for both business and leisure travelers. IndiGo stated that the direct connection will strengthen access between Punjab's agricultural and industrial sectors and the Mumbai metropolitan region, boosting trade and connectivity.The airline indicated that this route addition strategically accommodates both business and leisure travellers' needs by offering suitable flight schedules."IndiGo has always been at the forefront of enhancing regional connectivity, and we are pleased to announce exclusive direct flights between Mumbai and Adampur (Jalandhar), offering faster, affordable, and hassle-free travel. As Adampur becomes our 55th domestic and 77th overall destination from Mumbai, the new route unlocks opportunities to experience […]

[ad_1] NEW DELHI: Foreign portfolio investments in Indian markets reached record levels in May 2025, as confirmed by National Securities Depository Ltd (NSDL) statistics, quoted by ANI. The month recorded net FPI inflows of Rs 19,860 crore, establishing May as the strongest month for foreign investments in 2025.The period from May 26 to May 30 saw foreign investors maintain their investment momentum with net inflows of Rs 6,024.77 crore. While positive inflows characterised most trading days that week, Friday registered a net outflow of Rs 1,758.23 crore.Although May demonstrated robust performance, the cumulative FPI investment for 2025 remains negative. The period from January through May shows net outflows of Rs 92,491 crore. Nevertheless, the substantial May inflows suggest a possible shift in foreign investor confidence.The uptick in FPI activity correlates with the declining US dollar value and positive developments in […]

[ad_1] NEW DELHI: The Indian bond market is gaining momentum due to lower inflation and expectations that the Reserve Bank of India will cut interest rates, according to a report by Jefferies.The report indicates favourable conditions for domestic bonds, particularly appealing to long-term investors amid evolving global financial conditions. India's consumer price inflation has shown a consistent downward trend. The previous fiscal year recorded an average of 4.6%, while April 2025 witnessed a reduction to 3.2%, reaching its lowest point since July 2019.The declining inflation trend has provided the RBI additional flexibility for interest rate adjustments, resulting in a 50 basis points reduction in policy rates. Jefferies anticipates further cuts of 75 basis points through 2025. The ongoing rate reduction phase is increasing the attractiveness of Indian government bonds, particularly when assessed against developed economies such as the United States.According […]

[ad_1] VIENNA: Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July.They will produce an additional 411,000 barrels a day -- the same target set for May and then June -- according to a statement, which is more than three times greater than the group had previously planned.In recent years, the group within OPEC+ that is known as the "Voluntary Eight", or V8, had agreed to daily reductions of 2.2 million barrels with the aim of boosting prices.But in early 2025, OPEC+ members decided on the gradual output increase and subsequently began to accelerate the pace.The moves have resulted in oil prices plummeting to around $60 per barrel, the lowest level in four years. OPEC+ "struck three times: (the output target for) May was a warning, June a confirmation and […]

[ad_1] NEW DELHI: Industry associations Solvent Extractors’ Association (SEA) and Indian Vegetable Oil Producers’ Association (IVPA) have welcomed the government’s decision to reduce the basic customs duty on crude edible oils to 10 per cent, calling it a timely intervention that supports domestic refiners and discourages imports of finished products.Announced on Friday, the policy reduces the basic customs duty on crude palm, soybean, and sunflower oils from 20 per cent to 10 per cent. The effective import duty now stands at 16.5 per cent, down from 27.5 per cent. In contrast, refined edible oils continue to attract a 32.5 per cent basic duty, with an effective duty of 35.75 per cent.The move follows concerns raised by the industry over rising imports of refined palmolien. Over the past six months, SEA and IVPA had urged the government to widen the duty […]