The US Treasury Department‘s financial crimes unit has asked banks to watch for signs of identity theft, payroll tax fraud and money laundering linked to the employment of people living in the country illegally, marking the latest step in President Donald Trump’s immigration crackdown, AP reported.The Financial Crimes Enforcement Network (FinCEN) on Friday issued an…
The government has extended the tenure of Reserve Bank Deputy Governor Swaminathan Janakiraman for another two years.He was appointed as RBI Deputy Governor for three years in June 2023.“The Central Government has re-appointed Swaminathan Janakiraman as Deputy Governor, Reserve Bank of India, for a period of two years with effect from June 26, 2026, or…
New Delhi: State-run Oil India Limited (OIL) on Friday said it has reported the presence of natural gas in its third exploratory well in the Andaman shallow offshore block, further indicating hydrocarbon potential in the region.In a regulatory filing to stock exchanges, the company said natural gas was encountered in exploratory well Vijayapuram-3, drilled 15…
US stocks ended lower on Friday, with technology shares leading the decline, as a stronger-than-expected jobs report reduced expectations of interest rate cuts by the Federal Reserve this year.The S&P 500 fell 0.7%, while the Dow Jones Industrial Average declined 81 points, or 0.2%. The tech-heavy Nasdaq Composite dropped 1.4%, weighed down by losses in…
Pakistan’s foreign exchange reserves are nearing the government’s $18 billion target for FY26, but a widening trade deficit, mounting external payment obligations and pressure on the rupee are raising concerns about the country’s economic stability, PTI reported.Data released by the State Bank of Pakistan (SBP) showed the country’s foreign exchange reserves increased by $43 million…
Hailing India’s 7.7% GDP growth in FY26, Prime Minister Narendra Modi on Friday said the expansion reflected the “inherent strength” of the economy, the “success of reforms” and the “hard work of 140 crore Indians”.“India’s growth momentum remains strong! GDP growth rate of 7.7% in FY 2025-26 and 7.8% in Q4 of FY 2025-26 reflect…
India’s foreign exchange reserves rose by $938 million to $682.321 billion in the week ended May 28, snapping the previous week’s decline, according to data released by the Reserve Bank of India (RBI) on Friday.In the preceding reporting week, the country’s forex reserves had fallen by $7.511 billion to $681.384 billion, reported PTI.India’s reserve stock…
Indian entrepreneurs have emerged as the largest immigrant group behind America’s billion-dollar startup ecosystem, founding or co-founding 96 US unicorns, according to a new study that underscores the growing influence of Indian talent on the world’s biggest innovation economy.The report by the National Foundation for American Policy (NFAP) found that immigrants have founded or co-founded…
Old gold exchange transactions at jewellery stores have surged by as much as 60% year-on-year as soaring gold prices encourage consumers to use existing jewellery to fund fresh purchases, according to an ET report citing industry executives.The report said exchange-led purchases now account for almost half of sales at leading jewellery chains. The trend has…
Foreign capital (AI image) US-Iran war: Moving in to bolster forex reserves and attract foreign investments, the Reserve Bank of India (RBI) governor Sanjay Malhotra on Friday announced five measures. The steps come at a time when foreign investors have been exiting Indian equities at a record pace, putting pressure on the rupee and India’s…