Business

Global markets came under pressure as Brent crude climbed following renewed tensions in the Middle East. Rising oil prices and losses in AI-related technology stocks weighed on Wall Street, while investors awaited major US corporate earnings and monitored inflation concerns.

Aditya Birla Renewables Ltd will acquire Sprng Energy from Shell Overseas Investment BV in a USD 1.8 billion deal, expanding its renewable energy portfolio to about 9.3 GWp. The acquisition is expected to be completed by the end of 2026, subject to regulatory approvals

Benchmark indices Sensex and Nifty fell sharply in early trade as escalating West Asia tensions pushed crude oil prices higher, dampening investor sentiment. Weak Asian markets added pressure, while IT stocks gained despite broad-based selling across domestic equities

What your grandmother understood about money that the world’s most powerful institutions are only rediscovering now

The agreement with Australia will help India secure uranium supplies towards achieving its target of ‘net zero’ carbon emissions by 2070

India's imports of Russian crude oil reached a record high in June, rising 34 per cent from May to EUR 4.5 billion, according to CREA. Despite higher export volumes, Russia's oil revenues declined due to lower global crude prices, the report said

Gold and silver are expected to remain volatile next week as investors track the US-Iran conflict, crude oil prices and inflation data from major economies. Analysts said geopolitical tensions, economic indicators and central bank policy expectations will continue to influence precious metal prices

Finance Minister Nirmala Sitharaman will review public sector banks' progress in mobilising foreign currency deposits on Monday following RBI incentives. The meeting will also assess overseas borrowings, encourage ECB fundraising, and discuss boosting credit flow to productive sectors amid declining foreign capital inflows

India's Russian crude oil imports climbed 34 per cent to a record high in June, reaching EUR 4.5 billion despite lower Russian export revenues. The surge boosted supplies to major Indian refineries, reinforcing India as Russia's second-largest fossil fuel buyer

The country cannot become a developed nation while smuggling and counterfeiting fuel a parallel economy. Combating illicit trade must become a national economic priority

Prime Minister Narendra Modi urged New Zealand business leaders to invest in India, calling the country a "launchpad for global growth". He highlighted the India-New Zealand Free Trade Agreement, strategic partnership and opportunities across manufacturing, infrastructure, clean energy, agriculture and technology

NITI Aayog held consultations on implementing the SHANTI Act, 2025, which permits private participation in India's nuclear power sector. Discussions focused on regulations, FDI, financing, manufacturing, workforce development and operational readiness to support the country's long-term clean energy goals

Gold prices declined 1.47 per cent during the week after the US Federal Reserve's latest meeting minutes reinforced expectations of prolonged high interest rates. Rising geopolitical tensions supported precious metals, while a stronger dollar limited gains in gold and silver

The PM Formalisation of Micro Food Processing Enterprises (PMFME) Scheme has sanctioned loans to over two lakh micro food processing units, leveraging ₹20,300 crore in investments. The scheme has generated nearly 11 lakh jobs, with women accounting for 44 per cent of beneficiaries

Prime Minister Narendra Modi met New Zealand Opposition Leader Chris Hipkins in Auckland to discuss strengthening bilateral ties, trade and people-to-people relations. The meeting followed Modi's talks with Prime Minister Christopher Luxon, during which both countries elevated ties to a strategic partnership

Global oil demand is recovering from its May low and is expected to surpass 2025 levels by October, according to the IEA. Despite improved demand, the agency expects a market surplus later this year amid recovering tanker flows and rising crude supplies

Indian equity benchmarks ended the week with modest losses as rising West Asia tensions pushed crude oil prices higher. Strong gains on the final trading day, supported by banking and IT stocks, helped limit the weekly decline in the Nifty and Sensex.

India’s foreign exchange reserves jumped by $7.26 billion to $674.19 billion in the week ended July 3, reversing the previous week’s decline. Gold reserves rose sharply, SDR holdings increased, and banks are seeing stronger inflows under the revised FCNR-B deposit scheme.

The Petroleum Ministry said E20 petrol may lower fuel economy by 3–5 per cent in some vehicles but offers cleaner combustion, better performance and lower emissions. It maintained extensive testing confirmed vehicle compatibility before nationwide implementation of the ethanol-blending programme

The rupee appreciated 14 paise to close at 95.33 against the US dollar, supported by a weaker dollar index, easing crude oil prices and strong domestic equities. Foreign institutional outflows and West Asia tensions, however, capped further gains

The World Bank has approved financing for India's national solar rooftop programme, supporting the PM Surya Ghar: Muft Bijli Yojana. The initiative aims to expand residential solar adoption, create 1.7 million jobs and mobilise billions of dollars in private investment

TCS shares climbed more than 4 per cent after the company reported a rise in June-quarter profit and expressed optimism about demand improving in the current quarter. The earnings also lifted other IT stocks and supported a broader market rally

The Sensex surged nearly 700 points and the Nifty gained almost 200 points in early trade, driven by strong buying in IT stocks after Tata Consultancy Services reported higher quarterly profit. Positive global cues also supported investor sentiment

India has notified the procedure for importers to claim tariff quota benefits on UK vehicle imports under the India-UK trade agreement, effective July 15. The framework outlines eligibility, quotas and concessional customs duties for conventional and premium vehicle imports