Business

Track the latest in business and finance—from market trends and economic updates to startup stories and global trade analysis.

Trade worry: Sri Lankan exporters flag 30% proposed US tariff; Apparel, rubber sectors may take hit

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Sri Lankan exporters have expressed concern over a proposed 30 per cent tariff on goods entering the US, warning that the hike could severely impact key export sectors including apparel and rubber products.The Exporters Association of Sri Lanka (EASL) on Friday urged the government to step up negotiations with Washington ahead of the August 1 … Read more

Affordable housing finance: IIFL gets $100 million from AIIB; green homes, PMAY goals in focus

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IIFL Home Finance has secured $100 million (approximately Rs 858 crore) in financing from the Asian Infrastructure Investment Bank (AIIB) to expand access to affordable housing loans and promote green building standards, the company said in a release on Saturday.The funds will be used to support home loans for families from economically weaker sections (EWS) … Read more

Critical minerals push: India to make rare earth magnets in Hyderabad; G Kishan Reddy says move to cut China reliance

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India will begin domestic production of rare earth magnets in Hyderabad in a bid to reduce reliance on Chinese imports and strengthen its position in critical technology manufacturing, Union Coal and Mines minister G Kishan Reddy said on Saturday.Speaking to ANI, Reddy said the Centre has tasked the National Institute for Transforming Science and Materials … Read more

Festive hiring to jump 20-25% this year; top e-commerce firms to hire over 75,000 staff – check details

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Consumer goods firms, retailers, e-commerce platforms and logistics companies have increased their recruitment targets by 20-25% compared to the previous year for the upcoming festive period, anticipating robust sales recovery, according to a senior executives and recruitment specialists.The majority of these positions will be filled by temporary and gig workers, with a major e-commerce marketplace … Read more

No more shortcuts! Roads ministry tightens stricter rules for highway projects; aims to ensure quality, speed

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NEW DELHI: The ministry of roads has implemented stricter qualification requirements for bidding on road projects under hybrid annuity model (HAM) and engineering, construction and procurement (EPC) mode. These enhanced criteria aim to ensure superior construction quality of highways and expressways whilst securing timely project completion.The revised guidelines, detailed in a circular from the ministry … Read more

Flipkart to launch $50 million employee stock buyback; over 7,000 staff may benefit – check details here

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NEW DELHI: Walmart-owned Flipkart has announced a $50 million employee stock buyback plan that will benefit approximately 7,000–7,500 employees. The move comes as the ecommerce major prepares for a potential IPO filing next year.The buyback will allow employees to liquidate up to 5% of the stock options vested between July 6, 2022, and July 5, … Read more

Air India plane crash: What are the fuel control switches under scrutiny? What they do and why they matter

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Air India plane crash: The preliminary report on the Air India Flight AI171 crash has found that both engines of the Boeing 787-8 Dreamliner lost power just three seconds after takeoff from Ahmedabad due to a brief but sudden cutoff in fuel supply. The unexpected engine shutdown led to the accident that killed 260 people, … Read more

Oil jumps over 2% on tighter market outlook; Brent posts 3% weekly gain; US tariffs, Russia sanctions in focus

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Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) said the global market may be tighter than it seems, supported by strong summer demand. Meanwhile, concerns over new US tariffs and possible fresh sanctions on Russia also added upward pressure.Brent crude rose $1.72, or 2.5%, to settle at $70.36 per … Read more

Air India plane crash: Boeing says it ‘continues to support probe’; after AAIB releases preliminary report outlining final moments

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NEW DELHI: Boeing on Saturday said it continues “to support the investigation” into the Air India Flight AI171 crash, shortly after the Aircraft Accident Investigation Bureau (AAIB) released its preliminary report on the June 12 tragedy in Ahmedabad.“Our thoughts remain with the loved ones of the passengers and crew on board Air India Flight 171, … Read more