Data released during the week showed that US producer prices rose more than anticipated in May, resulting in the strongest annual increase in three-and-a-half years. Higher energy costs linked to the conflict in the Middle East contributed significantly to the rise. According to CME Group’s FedWatch Tool, traders are currently assigning a 60% probability to…
Oil prices tumbled below the $90 per barrel mark on Friday on hopes of a deal to restore global crude flows after signs of easing tensions in the Middle East. US President Donald Trump said Washington had reached a framework agreement with Iran and that the “war has ended today.”Around 7 am IST, WTI Crude…
MUMBAI: Pine Labs has launched India’s first agent-to-agent payment capability, enabling autonomous transactions through artificial intelligence by extending UPI’s standing mandate framework to machines.The company on Thursday introduced the Pine Labs Payment Protocol (P3P), allowing users to authorise a onetime mandate that can be delegated to an AI agent, which can then independently decide when…
NEW DELHI: Meta has signed its first artificial intelligence data centre deal in India, partnering with Reliance Industries on a 168-megawatt facility in Jamnagar, Gujarat, as technology companies race to secure the computing infrastructure needed to power AI applications.The agreement deepens a relationship that began with Meta’s $5.7 billion investment in Jio Platforms in 2020…
NEW DELHI: India on Wednesday rejected allegations of surplus capacity in the textiles and steel sectors, saying that per capita consumption of these products in the country remains among the lowest in the world.The remarks assume significance as USTR launched a probe regarding the acts, policies, and practices of 16 economies, including India, under Section…
MUMBAI: Platinum Jasmine A 2018 Trust, an investment arm of Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, is selling up to 4 crore shares of Lenskart Solutions, translating to about 2.3% of the company, at a floor price of Rs 486 per share. At the offer price, the ADIA…
There is new money, old money, and then the kind of money that could make someone the world’s first trillionaire!With SpaceX set to make its long-awaited Wall Street debut on Friday in what is expected to be the biggest IPO in history, that possibility may no longer seem far-fetched. If the listing goes as planned,…
Commerce and industry minister Piyush Goyal on Thursday said countries around the world are increasingly protecting their domestic industries, including in sectors such as steel, but India continues to navigate global trade challenges through dialogue, cooperation and trade partnerships.Speaking at the India Global Innovation Connect, he said such measures are part of global trade realities…
India’s agriculture sector has undergone a significant transformation over the past 12 years, driven by higher public investment, record foodgrain production, expanded irrigation, improved access to credit and a stronger safety net for farmers, according to a government paper released this month.The report, titled Empowering India’s Annadatas, outlines how agricultural policy has evolved from a…
US stock markets traded higher on Thursday, with technology and artificial intelligence (AI)-linked stocks rebounding after a volatile week, while investors continued to monitor rising geopolitical tensions in the Middle East, inflation concerns and global interest rate expectations.The benchmark S&P 500 rose 0.5% in morning trade, recovering some of the losses recorded over the previous…
