MUMBAI: Iran’s parliamentary move to approve the closure of the Strait of Hormuz, an oil shipping chokepoint, has jolted global insurance markets. Already uneasy over the Red Sea disruptions, marine insurers are now bracing for a spike in war risk premiums and the possible withdrawal of war cover across the Persian Gulf.“The ongoing Iran-Israel-US conflict…
NEW DELHI: Finance minister Nirmala Sitharaman on Monday asked top direct tax officials to make the processes simpler, transparent, and taxpayer-friendly, while seeking to speed up cases of disputed tax demand.During a meeting with principal chief commissioners of income tax, the minister called for a “structured, process-driven approach to compliance” focusing on greater ease for…
LUCKNOW: RBI governor Sanjay Malhotra on Monday said his experience at the United Nations taught him to challenge status quo, a lesson that helped him streamline government systems during his administrative career.Speaking at the 58th convocation of IIT Kanpur, Malhotra-an alumnus of the institute – outlined four key learnings from his professional journey thus far:…
Oil prices slipped nearly $5, or 6%, on Monday after Iran attacked the US military base in Qatar in retaliation for US attacks on its nuclear facilities, and took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz.About a fifth of global oil supply flows through the strait.A telegraphed attack…
MUMBAI: Dalal Street on Monday weathered the fallout of US involvement in the Israel-Iran conflict.As a reaction to US bombing of Iran’s nuclear sites early on Sunday, the sensex opened deep in the red but soon stabilised as it became clear that Iran’s response to the attack would not be immediate. In early trades, the…
NEW DELHI: Commerce and industry minister Piyush Goyal on Tuesday said little headway was made in the review of 15-year-old free trade agreement (FTA) with Asean, despite nine rounds of negotiations since 2022.The minister’s statement came days after controversy erupted over his comments on some of the Asean countries being a B-team of China. While…
State-owned power giant, NTPC, is seeking shareholder’s approval to raise up to Rs 18,000 crore through the private placement of bonds or non-convertible debentures (NCDs) in the domestic market.In a regulatory filing on Monday, the company said it has issued a postal ballot notice to seek shareholders’ nod via special resolution, using remote e-voting. The…
Indian Army places order of 450 NAGASTRA-1R loitering munitions from SDAL (Image credits: ANI) The Indian Army placed an order with solar defence and aerospace limited, SDAL, for approximately 450 units of its NAGASTRA-1R loitering munitions, the company said in a statement. The system is designed to be cost-effective and reusable, with launchers that can…
The national payments corporation of India, NPCI, has introduced a new facility for real-time PAN and bank account validation on the Income Tax department’s e-filing website. Announced in a circular dated June 17, 2025, the initiative aims to streamline the verification process for taxpayers linking their PAN with their bank accounts.The facility, launched through a…
Oil supply through the crucial Strait of Hormuz is unlikely to be affected, even though conflict in the Middle-East continues to escalate and crude prices continue to rise.The region remains tense after the recent US strike on Iran, but there is hope that oil supply routes will continue to operate without disruption, experts told ANI.Former…
