Business

India’s exchange rate framework came under renewed global scrutiny on Wednesday after the International Monetary Fund reclassified the country’s “de facto” regime as a “crawl-like arrangement”, two years after designating it “stabilised”. The change follows an IMF review conducted earlier this year and could shape how global investors read India’s approach to managing the rupee…

Americans are set for a mix of family meals and early holiday shopping this week, with most big retailers staying shut on Thanksgiving before reopening at dawn for Black Friday, the unofficial start of the Christmas buying rush. The week also marks what AAA says will be the busiest Thanksgiving travel period on record, according…

Fewer Americans applied for unemployment benefits last week, signalling continued stability in the labour market even as several large companies announced job cuts. According to AP, jobless claims fell by 6,000 to 216,000 in the week ending November 22, undershooting economists’ expectations of 230,000.Applications for unemployment aid — a key proxy for layoffs — remain…

US stocks climbed on Wednesday as Wall Street looked to stretch its winning run, buoyed by growing expectations of a Federal Reserve rate cut in December. According to AP, the S&P 500 rose 0.5% in early trade, while the Dow Jones Industrial Average gained 227 points and the Nasdaq advanced 0.7%.Traders are pricing in nearly…

Reliance Industries extended its gaining run on Wednesday, with the stock rising nearly 2% and pushing the company’s market valuation above Rs 21 lakh crore. The benchmark heavyweight closed at Rs 1,569.75 on the BSE after touching an intraday 52-week high of Rs 1,571.80. According to PTI, the stock gained 1.99% on the exchange and…

File photo (Picture credit: ANI) Union minister Ashwini Vaishnaw announced on Wednesday that the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved two key railway multitracking projects worth around Rs 2,781 crore. The decision will add nearly 224 kilometres to the existing Indian Railways network across four districts in Maharashtra…

Mumbai is set for one of its biggest transport upgrades yet, with the Maharashtra government approving the detailed project report and implementation plan for Phase I of the Uttan–Virar Sea Link — a development that will anchor a larger 120-km high-speed coastal corridor. The Mumbai Metropolitan Region Development Authority (MMRDA) said on X that the…

A Rs 4.23 lakh crore surge in investor wealth in a single session pushed the Sensex and Nifty to within touching distance of their record highs on Wednesday. The Nifty 50 climbed past the 26,150 mark with gains of over 300 points, while the Sensex jumped more than 950 points to an intraday high of…

BENGALURU: In a move that signals a shift in how global capital is approaching India’s AI boom, Google has teamed up with Accel via its AI Futures Fund to back Indian and Indian-origin founders with up to $2 million at day zero phase, giving these early AI builders access to capital, compute and frontier models…

File photo: Union commerce and industry minister Piyush Goyal (Picture credit: ANI) India will begin official negotiations for a Free Trade Agreement with the Russia-led Eurasian Economic Union on Wednesday, commerce and industry minister Piyush Goyal announced in New Delhi. He said the talks with the five-nation grouping — Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan…