Page 25 - Bs Reads

Iran war lifts bottled water prices in India, wipes out tax cut gains

Bisleri, Coca-Cola, Pepsi, billionaire Mukesh Ambani's Reliance and Tata all compete for a share of the $5 billion market

US Fed holds rates, signals one cut in 2026 despite higher inflation

Inflation, as measured by the Fed's preferred gauge, was expected to end the year at 2.7 per cent , not far below its current rate and higher than the 2.4 per cent projected in December

Heavy rain, gusty winds hit north India; snow in J&K, Himachal hills

Heavy rains and gusty winds hit the northern states on Wednesday, with a few places in Himachal Pradesh and Jammu and Kashmir receiving snow. The national capital Delhi also witnessed a turbulent weather in the evening as gusty winds, dust storms and thunderstorms, accompanied by rain, swept across parts of the city. Meanwhile, the India Meteorological Department, in an X post, said it has issued "an orange warning for light to moderate thunderstorm with lightning and gusty wind activity along with light to moderate rain over Jammu region and Himachal Pradesh", along with some other states. Some areas in the higher reaches of Kashmir received fresh snowfall on Wednesday, while rain lashed most parts of the Valley. Pir Ki Gali in Shopian district and Sonamarg in Ganderbal district received snowfall, even as most mountains in the Valley -- which have been receiving intermittent snow since Sunday -- remained covered by layers of white. The plains, including Srinagar, were lashed by r

Coal India's arm CMPDIL raises ₹470 cr via anchor investors ahead of IPO

Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, on Wednesday said it has mobilised Rs 470 crore from anchor investors, ahead of its initial share-sale opening for public subscription. Life Insurance Corporation (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India and Edelweiss Life Insurance Corporation are among the anchor investors, according to a circular uploaded on BSE's website. Also, Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets participated in the anchor round. As per the circular, the state-owned firm allotted 2.73 crore equity shares to 22 funds at Rs 172 per piece, aggregating the transaction size to Rs 469.74 crore. Of these funds, LIC has been allocated shares to the tune of Rs 105 crore. CMPDIL's Rs 1,842-crore initial public offering (IPO) will open for subscription on March 20 and conclude on March 24. T

US states, cities sue Trump over his move to scrap climate regulations

The suit, which also follows an earlier challenge filed by a coalition of environmental groups, also includes the states of Michigan, Connecticut, and Virginia and cities of New York, Boston, Chicago

IAEA says status of Iran's Isfahan enrichment facility remains unknown

A projectile hit an area near Iran's Bushehr nuclear power plant on Tuesday evening, however it caused no damage or injuries, Iran told the IAEA

Pakistan extends airspace ban on Indian airlines for another month

Pakistan on Wednesday extended the airspace ban for Indian aircraft for another month. The Pakistan Airport Authority (PAA) made the decision through a fresh Notice to Airmen (NOTAM). The notice was issued days before the previous one was set to expire on March 23. PAA said that Pakistan's airspace would remain closed to all aircraft registered in India till April 24, adding the restriction would continue to apply to aircraft operated, owned, or leased by Indian airlines or operators. It added that the restriction also covered Indian military flights. Pakistan's airspace is divided into two Flight Information Regions (FIRs) - Karachi and Lahore, according to a Pakistan Civil Aviation Authority (PCAA) document from 2022. The NOTAM applies to both the Karachi and Lahore FIRs. India and Pakistan closed their respective airspace to each other's airlines last year due to tension in the wake of an attack on Pahalgam that killed 26 people.

Chanakya and Sun Tzu: Making a pragmatic case for India-China engagement

It is time for India and China to walk the same path, with the former's wisdom and the latter's strategy converging, not clashing, to forge a new dawn for Asia, argue authors of Chanakya and Sun Tzu

Govt says 19.5 mn more beneficiaries can be added under Food Security Act

The Centre on Wednesday said that there is scope to add 1.95 crore beneficiaries under the National Food Security Act (NFSA). Under the NFSA or food law, the Centre provides 5 kg of foodgrains per person per month free of cost to Priority Households (PHH) beneficiaries through ration shops. Antyodaya Anna Yojana (AAY) households get 35 kg of free foodgrains per month. In a written reply to Lok Sabha, Minister of State for Food and Consumer Affairs Nimuben Jayantibhai Bambhaniya said the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) under the NFSA provides for coverage of up to 75 per cent of the rural and up to 50 per cent of the urban population for receiving free of cost foodgrains. As per the Census 2011, the total beneficiaries come to about 81.35 crore. The coverage under the PMGKAY is substantially high to ensure that all the vulnerable and needy sections of society get their benefits. "At present, against the intended coverage of 81.35 crore, the States/UTs have identifi

Iran threatens to hit energy assets in Gulf after attack on South Pars

Iran's state television published a threat Wednesday, saying that the Islamic Republic would be attacking oil and gas infrastructure in Qatar, Saudi Arabia and the United Arab Emirates. The threat resembled other attack warnings put out by Iran during the war, copying the style used by the Israeli military. Iran specifically threatened Saudi Arabia's Samref Refinery and its Jubail Petrochemical Complex. It also threatened the UAE's Al Hasan Gas Field and the petrochemical plants and a refinery in the Qatar. It comes after Iran said its South Pars gas field and associated infrastructure came under attack earlier Wednesday.

PhysicsWallah gets ₹263 crore tax notice, says will challenge order

Edtech firm Physicswallah has received an income tax demand notice of Rs 263.34 crore for the assessment year 2023-24. The demand was raised after the Income Tax Department treated investments received by the company from investors during the period, including funds from SEBI-registered Category II Alternative Investment Funds (AIF), as taxable income, Physicswallah said in a regulatory filing. The company plans to challenge the assessment order. "Based on its preliminary assessment, the company believes that it has strong legal and factual grounds to file an appeal before the appropriate appellate authority," Physicswallah said. PhysicsWallah posted about a 33 per cent increase in consolidated profit to Rs 102.27 crore in the December quarter. Its revenue from operations also grew about 33 per cent to Rs 1,082.41 crore during the quarter from Rs 809.67 crore a year earlier. Shares of Physicswallah settled 7.87 per cent higher at Rs 86.81 crore on the BSE on Wednesday. The statut

Trump grants 60-day waiver from Jones Act shipping rules to ease oil costs

The White House said President Donald Trump would waive, for 60 days, Jones Act requirements for goods shipped between US ports to be moved on US-flagged vessels. The 1920s law, designed to protect the American shipbuilding sector, is often blamed for making gas more expensive. The moves highlight the increased pressure that the Republican administration is under to ease soaring oil prices as the United States, along with Israel, wages a war with Iran without a foreseeable end date. Global oil prices have since spiked as Iran halted traffic through the narrow Strait of Hormuz, where one-fifth of the world's oil typically passes through from the Persian Gulf to customers worldwide.

Pakistan announces 'temporary pause' in operation against Afghan Taliban

Pakistan on Wednesday announced a "temporary pause" in the ongoing operation against the Afghan Taliban in view of Eid and at the request of several countries, a day after the Afghan government accused Islamabad of killing 400 people in an attack on a rehabilitation hospital in Kabul. Information Minister Ataullah Tarar made the announcement in a post on X, hours after Pakistan carried out fresh attacks on alleged Taliban positions in the border region. "In view of the upcoming Islamic festival of Eid-ul-Fitr, upon its own initiative as well as on the request from the brotherly Islamic countries" of Saudi Arabia, Qatar and Turkiye, Pakistan has decided to announce a temporary pause amidst ongoing Operation Ghazab-lil-Haq, he said. Tarar said the pause would be applicable from "midnight March 18/19 to midnight March 23/24". He, however, added that in case of any cross-border attack, drone attack or any terrorist incident inside Pakistan, the operation will immediately resume. Pakist

WGC proposes shared infrastructure to fix fragmented digital gold market

The World Gold Council has proposed a 'Gold as a Service' model to standardise digital gold and address trust and interoperability gaps

Over 1.7 million tonnes of India's oil, LNG, LPG stuck in Strait of Hormuz

India's 1.67 million tonnes of crude oil, 3.2 lakh tonnes of LPG and about 2 lakh tonnes of LNG are stuck on the 22 Indian-flagged ships stranded in the Persian Gulf, waiting to transit through the Strait of Hormuz, Rajesh Kumar Sinha, Special Secretary in the Shipping Ministry, said Wednesday. Originally, there were 28 Indian-flagged vessels in the Strait of Hormuz when the war in the Middle East broke out following US-Israel attacks on Iran. Of these, 24 were on the west side of the strait and four on the east side. In the last week, two vessels from each side have managed to sail to safety. "All 611 seafarers on 22 vessels (on the west side of the Strait) are safe," he told a news briefing. There are now 3 vessels on the east side after one more Indian-flagged ship joined them. Of the 22 remaining Indian-flagged vessels on the west side of the Strait of Hormuz, six are LPG carriers, one is a liquefied natural gas (LNG) tanker, four are crude oil tankers, one is transporting ...

About 260,000 passengers returned to India from West Asia since Feb 28: MEA

Amid the escalating West Asia conflict, the government on Wednesday said around 2.6 lakh people have returned from the region to India since February 28. At an inter-ministerial briefing here on the West Asia situation, Additional Secretary (Gulf), Ministry of External Affairs (MEA), Aseem R Mahajan, said that on Wednesday, around 70 flights were expected to operate from various airports in the UAE to different destinations in India. The flight situation is "reassuring," he said. MEA spokesperson Randhir Jaiswal spoke about a telephonic conversation between Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan on Tuesday. "The two leaders discussed the current situation in West Asia. The prime minister reiterated India's strong condemnation of all attacks on the UAE that have resulted in loss of innocent lives and damage to civilian infrastructure," he said. The two leaders agreed on the importance of "ensuring safe and free navigation through the Strai

West Asia conflict sends Indian startups into wait-and-watch mode

Indian startups are turning cautious on expansion and investments in West Asia amid the ongoing conflict, with fintech and travel sectors seeing early stress while edtech remains relatively stable

Rupee hits record low at 92.63 as oil prices surge, capital outflows rise

The rupee closed at 92.63 per dollar, eclipsing its previous lifetime low of 92.4750 hit last week

Company, customers, and professionals can all win: Pronto's Anjali Sardana

Pronto's 23-year-old founder says daily bookings have grown 18-fold in seven months, as the startup targets 70,000 bookings a day by June

Fourth Indian tanker reaches India after crossing Strait of Hormuz

Indian-flagged oil tanker Jag Laadki has reached Mundra port in Gujarat after sailing safely from Fujairah in the UAE, despite an attack on the terminal, taking the total number of vessels transiting the conflict-hit zone to four. The tanker, with 80,886 tonne of crude oil sourced from the UAE, departed from Fujairah Port following the incident and completed its voyage to Mundra Port on Wednesday, according to shipping sources. Jag Laadki is the second vessel from the war zone to have reached Adani group's Mundra port. Previously, LPG tanker Shivalik reached the port on Monday. Adani's Mundra port provided the safe berthing of the vessel and maritime coordination in safeguarding vital energy lifelines of India, they said. All 22 Indian seafarers onboard are reported safe. Originally, there were 28 Indian-flagged vessels in the Strait of Hormuz when the war in West Asia broke out following US-Israel attacks on Iran. Of these, 24 were on the west side of the strait and 4 on the east