Public sector lender Indian Overseas Bank (IOB) reported its highest-ever quarterly net profit of Rs 1,111 crore in the April–June 2025 quarter, marking a 76 per cent year-on-year jump from Rs 633 crore. The bank, headquartered in Chennai, said it is confident of sustaining and growing this performance through the rest of FY26.“Exactly. One hundred…
The European Union’s latest sanctions will adversely affect countries including India, Turkey, and the UAE. (AI image) Russian oil sanctions by the European Union could dent India’s $15 billion fuel exports, the Global Trade Research Initiative (GTRI) has warned. The EU’s 27 member states have introduced their 18th sanctions package against Russia, primarily targeting the…
India’s electronics exports surged by 47 per cent in the April-June quarter of FY26, reaching USD 12.41 billion, with the US, UAE, and China emerging as the top destinations, commerce ministry data showed. The United States alone accounted for a dominant 60.17 per cent share, followed by the UAE (8.09 per cent), China (3.88 per…
India has become the world’s top player in real-time digital payments, largely due to the rapid growth of the Unified Payments Interface (UPI), according to a recent International Monetary Fund (IMF) note titled ‘Growing Retail Digital Payments: The Value of Interoperability’.Launched in 2016 by the National Payments Corporation of India, UPI has revolutionised the country’s…
BENGALURU: Crypto exchange CoinDCX on Friday said it is investigating a security breach involving one of its internal accounts, after blockchain experts flagged suspicious fund transfers linked to the platform. The company clarified that customer funds remain safe and unaffected.The breach, which CoinDCX described as “server-side,” involved an operational account used for managing liquidity. While…
Representative image (Picture credit: ANI) India’s petroleum regulator has directed city gas distributors to charge a uniform rate for piped natural gas (PNG) supplied to household kitchens, regardless of usage volume. The move comes amid concerns that a tiered pricing system adopted by some firms may be encouraging misuse of subsidised gas and leading to…
This is an AI-generated image, used for representational purposes only. India is inching closer to a major milestone in its semiconductor journey, with the country expected to produce its first commercial-scale, made-in-India semiconductor chip this year. Union electronics and IT minister Ashwini Vaishnaw made the announcement on Saturday while addressing the 14th convocation ceremony of…
NEW DELHI: Luxury fashion house Prada has denied violating the Geographical Indication (GI) rights associated with Kolhapuri chappals, after featuring sandals inspired by traditional Indian footwear in its Spring/Summer 2026 menswear collection in Milan.In response to a Rs 500 crore legal notice, Prada’s legal team said it did not use the term ‘Kolhapuri’ or any…
NEW DELHI: JSW Paints, led by Sajjan Jindal, has approached the Competition Commission of India (CCI) for approval to acquire a majority stake in Akzo Nobel India in a deal worth over Rs 12,915 crore. The move follows JSW’s announcement to purchase a 74.76% stake in the Dutch paint major’s India arm for Rs 8,986…
Gold rate outlook: Gold prices are expected to trade in a narrow range next week as investors await key global cues, including US economic data, trade negotiations, and policy signals from central banks, analysts said.Focus will be on Fed Chair Jerome Powell’s speech and PMI data from major economies like the US, UK, and Eurozone,…
