Business

[ad_1] This is a representative AI image. NEW DELHI: MakeMyTrip on Wednesday said it reported a decline in travel demand to both Turkey and Azerbaijan, amid rising calls on social media to boycott the two nations. The platform revealed that bookings have plunged by 60% over the past week, while cancellations have soared by 250%. "Indian travellers have expressed strong sentiments over the past week, with bookings for Azerbaijan and Turkey decreasing by 60%, while cancellations have surged by 250% during the same period," a MakeMyTrip spokesperson told news agency ANI."In solidarity with our nation and out of deep respect for our armed forces, we strongly support this sentiment and advise all against all non-essential travel to Azerbaijan and Turkey," the Spokesperson added.The calls to boycott travel to Turkey and Azerbaijan have spread across the country following Operation Sindoor, after […]

[ad_1] NEW DELHI: Beauty and fashion retailer Nykaa and fertilizer maker Coromandel International are set to be included in the MSCI India Index, according to the latest review by global index provider MSCI.The changes to the MSCI Global Standard Indexes will take effect from May 30, 2025, as stated in MSCI's announcement. FSN E-Commerce Ventures' shares registered a 3.44% increase on the BSE. Coromandel International’s stock rose by 1.82% but later gave up all gains to end nearly 4% lower.MSCI, serves as a primary provider of essential decision support instruments and services for international investors. It has announced that in the MSCI Global Smallcap Indexes, 11 firms will be added, while 22 companies will move out effective May 30.The new additions comprise AWL Agri Business, ACME Solar Holdings, Authum Investment, Dr Agarwals Health Care, Godrej Agrovet, Hexaware Technologies, International Gemmological, […]

[ad_1] British fashion giant Burberry announced plans to slash almost one fifth of its global workforce, laying off 1,700 employees. The move comes as a major cost saving move to revive the company’s performance.The cuts come as part of a broader shake-up under chief executive officer Joshua Schulman, who joined the company last year to reverse its years of underperformance and put Burberry back on course.The majority of the job losses will affect office-based roles, and a night shift at the company’s Castleford trench coat factory in England will be scrapped due to overproduction.“Our brand metrics have all shown a significant improvement in the second half versus the first half,” Schulman told journalists on a call, quoted by Reuters.Looking for revivalThe former Jimmy Choo boss has transitioned Burberry’s focus back to its heritage staples, particularly trench coats and scarves, after […]

[ad_1] India's wholesale price inflation eased to a 13-month low of 0.85% in April 2025, helped by a decline in the prices of food items, fuel, and manufactured goods. Experts predict that rate could further decline in the coming month.This marked a significant drop from the 1.19% inflation rate recorded over the same period last year and the 2.05% seen in March 2025, according to data released by the ministry of commerce and industry on Wednesday.The ministry said, “Positive rate of inflation in April, 2025 is primarily due to an increase in prices of manufacture of food products, other manufacturing, chemicals and chemical products, manufacture of other transport equipment and manufacture of machinery and equipment, etc.”Barclays, in a research note pointed, "Favourable base effects to keep WPI inflation low in coming months."Food articles and vegetables witness sharp fallFood inflation for […]

[ad_1] Jaguar Land Rover (JLR) is facing a slow down in its sales in the Indian market amid uncertainty over the India-UK free trade agreement (FTA). The automaker’s top executives met at Bombay House on Monday to discuss the developments, a day ahead of the company’s quarterly results, ET reported quoting sources.Despite the recent slowdown, JLR India has posted impressive growth in recent years. The company achieved record sales in FY25, with retail sales reaching 6,183 units, reflecting a 40% year-on-year increase. Wholesale volumes also rose by 39% to 6,266 vehicles.Notably, sales have more than doubled over the past two years, with the momentum continuing in the March quarter, where retail sales surged 110% and wholesales jumped 118%.Though luxury car buyers are generally less price-sensitive than mass-market consumers, dealers say the lack of clarity on the much awaited FTA has […]

[ad_1] Nvidia CEO Jensen Huang’s net worth soared to near $120 billion, up from $80 billion just a year ago, driven by surging demand for the company’s artificial intelligence chips.This boost lifts him higher up the ranks of the world’s wealthiest individuals on Forbes’ real-time billionaires list, according to a Reuters report.The chipmaker’s market value hit an astonishing $3 trillion after it struck a major deal with Saudi Arabia. The agreement was signed during US President Donald Trump’s visit to the country as part of his Gulf tour, which will later take him to the UAE.As a part of the deal, the tech giant agreed to supply hundreds of thousands of AI processors to the Saudi, including a large share set aside for a startup backed by the kingdom’s sovereign wealth fund.The 62 year old Jensen Huang has been crucial […]

[ad_1] The State Bank of Pakistan announced that these funds will reflect in the country's foreign exchange reserves. (AI image) Pakistan has obtained the second instalment of special drawing rights amounting to 760 million ($1,023 million) from the International Monetary Fund (IMF) through the extended fund facility programme.The State Bank of Pakistan announced on X (formerly Twitter) that these funds will be incorporated into its foreign exchange reserves for the week ending May 16, according to a Reuters report.Last week, India abstained from voting at the International Monetary Fund's Executive Board meeting, expressing serious concerns about IMF bailout packages for Pakistan. India highlighted Pakistan's status as a long-term IMF borrower with poor compliance regarding programme conditions. The substantial financial support has led to Pakistan amassing significant debt, effectively making it a 'too big to fail debtor' for the IMF, India […]

[ad_1] Gold's support levels are at Rs 93,150-92,660, with resistance at Rs 94,000-94,450. (AI image) Gold rate today: Following profit booking, Gold June futures at MCX declined to Rs 93,195/10 grams, showing a decrease of Rs 452 or 0.48%, despite an initial upward movement in precious metals driven by reduced inflation.Similarly, Silver July futures contracts experienced a reduction of Rs 704 or 0.73%, trading at Rs 96,063/kg.The domestic and international markets witnessed positive settlements for gold and silver on Tuesday. Gold June futures concluded at Rs 93,647 per 10 grams, advancing by 0.80%, whilst Silver July futures finished at Rs 96,767 per kilogram, rising by 1.49%.In international markets, both metals recovered from their previous session's fluctuations following April's cooling U.S. inflation. The U.S. CPI registered 3.2% annually in April, lower than March's 3.3% but marginally higher than the anticipated 3.1%.The […]

[ad_1] Gold price predication: What are the key events that will shape the direction of gold prices going ahead? (AI image) Gold price prediction: Global gold prices have been fluctuating - from hitting new highs, to giving up those gains - as trade uncertainties are weighing on the yellow metal’s outlook. Domestically, the India-Pakistan conflict has also triggered some safe haven buying.So what’s the gold rate outlook for this week? What are the key events that will shape the direction of gold prices going ahead and what should investors do? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations:Gold, which posted strong gains last week, closing at $3325 per oz, erased its weekly losses amid US China trade deal optimism as both countries over weekend discussions agreed to a 90-day tariff […]

[ad_1] MUMBAI: The India-UK free trade agreement will benefit Jaguar Land Rover's future cars, as customers will be able to access them much faster, driving its performance in India, said the company's top executive."The current cars already in India, the Range Rover franchise-Range Rover, Range Rover Sport, Evoque, and the Velar-are being manufactured in India on a CKD (completely knocked down) basis, so they won't be impacted by this FTA that is coming in," said director PB Balaji. "This will benefit future cars, meaning customers will be able to access these global cars at global prices much faster."Under the FTA, a fully-built car imported from the UK will be levied a 10% duty as against the existing 100%. JLR sold 6,183 vehicles in India in FY25.Regarding the US-UK trade deal, Balaji said, "The situation is much better than what we […]