Business

[ad_1] NEW DELHI: In a relief to Reliance Infrastructure, National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings against the company. Reliance Infrastructure in a regulatory filing said that NCLAT suspended the order passed by the NCLT over an appeal filed by it.On May 30, the Mumbai bench of NCLT had admitted an insolvency plea against the company filed by IDBI Trusteeship Services This was opposed by Reliance Infra, saying that it has made the full payment of Rs 92.7 crore to Dhursar Solar Power towards claims of tariff, making the initiation of insolvency proceedings infructuous. agencies [ad_2] Source link

[ad_1] Nvidia’s newest Blackwell chips have significantly advanced the training of large artificial intelligence systems, dramatically reducing the number of chips needed to train massive language models, new data released Wednesday shows.The results, published by MLCommons, a nonprofit that issues benchmark performance results for AI systems, detail improvements across chips from Nvidia and Advanced Micro Devices (AMD), among others, Reuters reported. The benchmarks focus on AI training — the phase where systems learn from vast datasets — which remains a key competitive frontier despite the market’s growing focus on AI inference, or responding to user queries.One major finding was that Nvidia and its partners were the only ones to submit data for training a large-scale model like Llama 3.1 405B, an open-source AI system from Meta Platforms with trillions of parameters. This model is complex enough to stress test modern […]

[ad_1] Finance Commission chief Arvind Panagariya & UP cm Yogi Adityanath (PTI) Uttar Pradesh, despite having the second-lowest per capita income in the country, has emerged as one of the best-managed states financially, Chairman of the 16th Finance Commission Arvind Panagariya said on Wednesday.Speaking at a press conference at Lok Bhawan during the Commission’s visit to the state capital, Panagariya said the panel was briefed on UP’s economic reforms, demographic shifts, fiscal performance, and development achievements, as reported PTI."All in all, Uttar Pradesh is a well-run state. Its tax collection as a proportion of GSDP is among the highest in the country," he said, following meetings with Chief Minister Yogi Adityanath, Chief Secretary Manoj Kumar Singh, and senior state officials."Indeed, one would like to see other states be able to do the tax collection as the proportional GSDP to the […]

[ad_1] Dubai is set to expand its residential inventory with the delivery of 73,000 homes in 2025, taking the emirate closer to a total of 300,000 new units by the end of 2028, according to research from property consultancy Cavendish Maxwell.As reported by Arabian Business, Dubai recorded 42,000 property sales transactions valued at AED 114.4 billion ($31 bn) in the first quarter of 2025. Although this reflects a 10 per cent decline from the previous quarter, it marks a 23 per cent rise compared to the same period last year.“Dubai’s property market is on track for a modest annual increase in terms of sales volumes and values, but there are indications that prices are beginning to stabilise. 2025 began with a brief dip in prices per sq ft, followed by a steady recovery. While prices are still on the up, […]

[ad_1] Gold rate today: Gold prices rose by Rs 260 to Rs 99,260 per 10 grams in the national capital on Wednesday, tracking strong trends in the global market, according to the All India Sarafa Association.The price of gold with 99.5% purity also increased by Rs 100 to Rs 98,700 per 10 grams, inclusive of all taxes."Gold showed a slight positive trend on Wednesday due to persistent uncertainties related to trade, along with economic concerns and geopolitical risks, continue to support the safe-haven appeal of the precious metal," said Saumil Gandhi, Senior Analyst – Commodities, at HDFC Securities, as quoted PTI.Silver prices also witnessed a sharp uptick, rallying Rs 1,900 to Rs 1,02,100 per kg (inclusive of taxes), up from Rs 1,00,200 per kg in the previous session.In global markets, spot gold climbed USD 9.43, or 0.28%, to USD 3,362.6 […]

[ad_1] The Reserve Bank of India’s Monetary Policy Committee (MPC) began its three-day meeting on Tuesday, with expectations running high for a policy rate cut to support economic growth in the face of external uncertainties, including recent tariff moves by the US.The committee, chaired by RBI Governor Sanjay Malhotra, will announce its decision on Friday. Analysts and economists are widely anticipating either a 25 basis points (bps) cut or a surprise 50 bps reduction in the repo rate, which currently stands at 6 per cent following two 25 bps cuts in February and April 2025.If the central bank opts for another cut, it would mark the third consecutive reduction in the benchmark lending rate this year.In response to the earlier 50-bps easing, most banks have already lowered their external benchmark-linked lending rates (EBLRs) and marginal cost of funds-based lending rates […]

[ad_1] Stocks advanced across Europe and Asia on Wednesday, tracking gains on Wall Street as optimism grew around easing trade tensions and political developments in South Korea. US futures also pointed higher, with investors eyeing key economic data later in the week.In Europe, Germany’s DAX climbed 0.9 per cent to 24,309.65, while France’s CAC 40 rose 0.7 per cent to 7,819.43. The UK’s FTSE 100 edged up 0.1 per cent to 8,798.65. Futures for the S&P 500 and the Dow Jones Industrial Average each advanced 0.2 per cent in early trading.In Asia, South Korea’s Kospi led regional gains, surging 2.7 per cent to 2,770.84, after liberal opposition candidate Lee Jae-myung was elected president. Lee’s win follows a turbulent political period that saw the ousting of conservative leader Yoon Suk Yeol after a controversial but short-lived imposition of martial law, according […]

[ad_1] India’s services sector showed continued strength in May, with businesses reporting solid growth in activity, hiring, and international demand. The HSBC India Services PMI Business Activity Index edged up to 58.8 from 58.7 in April, reflecting another sharp expansion. A reading above 50 indicates growth, while anything below signals contraction. The sector’s momentum was underpinned by healthy demand conditions, effective advertising, and repeat orders from loyal customers. Firms also gained new clients and reported a surge in export orders, particularly from Asia, Europe, and North America. “India registered a 58.8 services PMI in May 2025, broadly in line with the steady readings from recent months. Strong international demand continued to fuel services activity, as evidenced by the new export business index's uptick from April,” said Pranjul Bhandari, Chief India Economist at HSBC. With demand swelling, companies expanded their workforce […]

[ad_1] The rupee opened on a weak note at 85.69 on Wednesday and slipped further by 25 paise to hit 85.86 against the US dollar during early trading hours. The fall follows a 22 paise drop on Tuesday, when the domestic currency settled at 85.61. Currency traders attributed the rupee’s decline to ongoing outflows of foreign funds. On Tuesday, Foreign Institutional Investors (FIIs) sold Indian equities worth Rs 2,853.83 crore, according to exchange data. Despite the fall, the rupee found some support from positive signals in the domestic stock market, falling global crude oil prices, and a weak US dollar. The dollar index, which measures the greenback against six major global currencies, was down 0.05% at 99.18. Meanwhile, Brent crude prices dipped 0.32% to USD 65.42 per barrel in futures trade. According to Anil Kumar Bhansali, head of Treasury at […]