Business

RIL responds to US, EU sanctions on Russian crude NEW DELHI: Reliance Industries Ltd (RIL) on Friday said it is assessing the impact of the latest sanctions imposed by the United States and the European Union on Russian oil companies.In an official statement, a company spokesperson said RIL will comply with guidelines on the import…

The central bank has added 600 kilograms to its gold reserves this fiscal year. (Representative image) In a strategic shift, India is betting on gold rather than dollar-based assets for its foreign exchange reserves. The Reserve Bank of India (RBI) is showing a preference for gold over dollar-based investments, data suggests. As of October 10,…

Representative image (AI-generated) Asian stock markets remained mostly high on Friday after the White House confirmed that US President Donald Trump will meet Chinese leader Xi Jinping next week.The announcement eased some uncertainty over trade tensions between the world’s two largest economies, although the likelihood of a major trade deal remains unclear.Chinese markets also gained…

Representative image (AI-generated) Indian fertiliser companies are preparing to set up a urea manufacturing facility in Russia, a move that is likely to be announced during Russian President Vladimir Putin’s visit to India in December. This would be India’s first fertiliser venture in Russia.The plant will use Russia’s abundant ammonia and natural gas reserves, ensuring…

​ RIL, which has been the largest importer of Russian oil by volume in this year, has bought millions of barrels of crude from the US and Middle East . (AI image)​ In what is being seen as a direct impact of Donald Trump’s sanctions on two major Russian oil firms, Reliance Industries Ltd (RIL)…

India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases. At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade…

Representative image (AI-generated) Domestic steel prices have fallen to a five-year low, trading between Rs 47,000 and Rs 48,000 per tonne, based on BigMint market data.Several factors have influenced these prices. Rising imports, weak export demand and oversupply in the global market all contribute to the decline.Hot rolled coil (HRC) is priced at about Rs…

Gold-backed ETFs experienced their most substantial single-day tonnage withdrawal in five months, indicating that institutional investors are reducing their positions. (AI image) Why are gold prices falling? After a record-breaking run, gold prices seem to be taking a breather with a significant 3% drop this week in the international markets. The yellow metal is set…

Representative image (AI-generated) The International Monetary Fund (IMF) on Friday urged Asian countries to lower non-tariff barriers and boost regional trade integration. The organisation said that this would help them reduce vulnerability to US tariffs and global economic shocks.Trade has been a major driver of Asia’s economic growth, with China serving as the global hub…

Donald Trump, Mark Carney (AP) US President Donald Trump announced late Thursday that he is halting “all trade negotiations” with Canada, citing recent television ads protesting US tariffs as “egregious behavior” intended to influence American court decisions.“The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald…