Reliance Industries has bought 2 million barrels of Venezuelan oil at a discounted price, marking their first purchase in a year. The news is yet to be verified by Financial Express. India's Foreign Ministry has expressed interest in buying oil from Venezuela, prioritizing energy security for its large population. The government plans to diversify its oil sources.
ICRIER research paper recommends using West Asia conflict to reduce import dependence through direct cash transfers of fertiliser subsidies to farmers. This would encourage balanced nutrient usage and reduce urea diversion, resulting in ?40,000 crore annual savings. Strategic import source diversification is crucial to decrease vulnerability to geopolitical tensions.
President Droupadi Murmu will serve the 5 billionth meal provided by The Akshaya Patra Foundation as part of the PM POSHAN scheme at Rashtrapati Bhavan on March 17. The Foundation has been a partner of the government since 2001 and aims to disburse 3 million more meals by 2030.
The government is taking measures to address cooking gas supply disruptions caused by tensions in West Asia. They are urging households near city gas networks to switch to piped natural gas (PNG) and have advised 700,000 households to make the switch. Panic bookings for LPG cylinders have increased, but no dry-outs have been reported.
Investors faced a nightmare during the week of Friday the 13th as benchmark indices saw a sharp decline due to geopolitical tensions in West Asia and rising crude oil prices. The Sensex and Nifty recorded their worst weekly performance in six years and four years, respectively, with the auto sector being the hardest hit. Foreign portfolio investors also sold billions of rupees worth of shares.
India's expensive market has seen a decline in valuation due to the West Asia crisis, but its P/E remains higher than other Asian countries. Experts believe this is justified by the quality of its corporate balance sheets and return on equity, but ongoing crisis could impact earnings and lead to a reevaluation of India's valuation. Market is expected to remain expensive.
The US has opened investigations against 60 countries, including India, to determine if they failed to stop the import of goods produced with forced labor. This comes after a previous investigation against India, EU, China, and others for building excess capacities for exports.
The India-UK Comprehensive Economic and Trade Agreement (CETA) will take effect in a month, making it the fastest agreement to be approved by the UK Parliament. The agreement, along with the Double Contribution Convention, will boost professional mobility and tariff liberalization between the two countries.
Sebi has issued strict guidelines for intraday borrowing by mutual funds, limiting it to redemption payouts and not for investment or leverage. The borrowing must be approved by the AMC board and trustees, with an upper limit set by the regulator. AMCs must bear the cost of borrowing and any losses incurred due to unforeseen events.
Fitch Ratings has raised India's growth forecasts for 2025-26 and 2026-27, citing strong domestic demand and a comprehensive revision of national accounts data. The rating agency expects consumer spending to grow 8.6% and investment to rise 6.9% in the current fiscal year.
The Indian government is working to ensure the flow of goods to West Asia through alternate arrangements such as air cargo and alternate routes and ports. Due to the closure of the Strait of Hormuz, major ports like Dubai's Jebel Ali and others have stopped cargo movement.
The parliamentary panel has advised the finance ministry to allocate enough funds for fertiliser subsidy to prevent disruptions and consider historical trends and global factors in budget estimation. The budget for imported urea is unstable and the diversion of fertilisers to industries is a major issue.
The US Department of Treasury has allowed countries to buy Russian oil stranded at sea for 30 days to stabilize global energy markets. This move, which won't benefit Russia financially, is in response to the war in West Asia disrupting energy supplies. Asian countries are expected to absorb the large volumes of Russian crude currently floating in global waters.
Taxpayers have until March 31 to file updated returns and avoid scrutiny, penalties, or prosecution. The longer the delay, the higher the tax burden. The last date to file for AY21-22 is March 31, 2026. Errors or omissions can be corrected, but not for refunds or reducing tax liability. Updated returns can be filed by anyone.
Chaitali Dutta suggests a six-month repayment period for gold loans, with pledged ornaments returned upon full payment. For construction loans, the landowner must be the loan applicant with their name on the documents. Mohit Gupta questions the cost and maximum tenure of a loan against property compared to a personal loan.
India's upcoming financial year will bring significant changes to the income tax system, including the introduction of the Income-tax Act 2025 and proposed Income-tax Rules 2026. These changes will impact the way individual taxpayers, especially salaried employees, file tax returns and claim deductions and exemptions.
Finance Minister Nirmala Sitharaman plans to keep fiscal deficit target at 4.4% GDP for FY26 and establish a Rs 1 lakh crore Economic Stabilisation Fund to handle global shocks. Supplementary demands will not impact fiscal consolidation, with Rs 30,000 crore for MNREGA, Rs 19,230 crore for fertiliser subsidies, and Rs 23,641 crore for the PM included in the second batch.
India and the US are working on an agreement to protect India's advantage in the US market. The agreement was delayed due to US Supreme Court's decision to strike down tariffs. The US has launched investigations against India and other trade partners for excess capacities and forced labor. India is studying the situation and will respond accordingly.
The global oil market is experiencing its biggest supply disruption as the Strait of Hormuz is closed, removing 17 million barrels per day. Gulf exporters are trying to find alternative routes, but production risks are increasing. S&P Global Energy predicts a price range of $70-$100 per barrel for Dated Brent crude, assuming the strait reopens within weeks.
Dhurandhar 2: The Revenge, featuring Ranveer Singh, has broken records in the North American Box Office with $2.8 million in pre-sales. It has surpassed opening weekend earnings of top blockbusters and is set to earn $4 million with its release in five languages, thanks to the first film's success and the sequel's hype among moviegoers.
The teaser for The Devil Wears Prada 2 has sparked excitement on social media with the introduction of Simone Ashley's enigmatic character. Fans are intrigued by her potential to challenge Miranda Priestly and are eagerly anticipating the film's release on May 1, 2026, which will also bring back the original trio and explore new power dynamics.
The exclusion of MacKenzie Scott from the 2026 Philanthropy 50 list caused controversy due to her record-breaking donations of $7 billion in 2025. The Chronicle of Philanthropy's strict reporting rules and Scott's refusal to provide official receipts were cited as reasons. Despite this, Scott's Giving Pledge commitment has led her to donate over 75% of her original Amazon shares.
Ben Affleck, the successful filmmaker, has ventured into the tech world with the sale of his AI startup, InterPositive, to Netflix for $600 million. This unconventional move highlights the impact of technology in filmmaking and has earned Affleck a Senior Advisor role at Netflix, thanks to his team's practical approach and partnerships with major directors.
The T20 World Cup 2026 has come to an end, but the International Cricket Council (ICC) has revealed the earnings of each team. India, who won the World Cup for the third time, received a whopping $2,639,423 (approx. ₹23.74 crore), while Pakistan only earned $522,692 (approx. ₹4.70 crore). The difference in earnings highlights the importance of consistency and success in the tournament.
The hit animated film K-Pop: Demon Hunters is officially getting a sequel, with Netflix confirming that Maggie Kang and Chris Appelhans will return to write and direct the next chapter. With the original movie becoming one of the platform’s most-watched releases and even earning nominations at the 98th Academy Awards.
The BCCI annual awards, also known as the 'Naman Awards,' will be held on March 15, 2026, in New Delhi. The term "Naman" is derived from the Hindi word meaning "paying respect," and was adopted in 2017 to honor former captain Mansoor Ali Khan Pataudi. The event will celebrate India's five ICC titles in the past year and will be live-streamed on JioStar and BCCI's official website.
The 98th Academy Awards will bring Hollywood’s biggest night back to the spotlight as stars gather at the Dolby Theatre in Los Angeles. Hosted by Conan O'Brien, the ceremony will also feature presenters including Priyanka Chopra Jonas, Robert Downey Jr., and Anne Hathaway. Here’s everything Indian viewers need to know about the timing, streaming platforms, and TV broadcast details.
Ranveer Singh's film, Dhurandhar: The Revenge, has exceeded expectations in terms of pre-release interest and ticket sales, breaking records set by South Indian stars. With a predicted opening day of over Rs 100 crore and the potential to join the Rs 1,000 crore club, the film has already surpassed several domestic records and is attracting a wide audience before its official release.
HFCL, an Indian technology company, has signed a five-year agreement worth Rs 10,159 crore with a global multinational corporation. The contract will be executed through its subsidiary and is estimated to have a total potential value of $1.10 billion. This deal, which will run until December 2030, marks HFCL's entry into the global OFC market and will boost its position in the industry.
Motilal Oswal remains bullish on VA Tech Wabag, a water technology company, due to its strong order book of over Rs 16,300 crore, with potential for further growth. Despite concerns about its Middle East exposure, the company's projects remain on track. The brokerage believes VA Tech Wabag's growth will accelerate and recommends a 'Buy' with a target price of Rs 1,900.
Authorities have identified the man behind Thursday’s attack at Temple Israel synagogue in West Bloomfield Township, Michigan, as Ayman Mohamad Ghazali. The US Department of Homeland Security confirmed his identity and shared details about his immigration background, according to a report by Fox News.
The new Income-tax Act, effective from April 1, has only 54 out of 190 forms ready. The Department of Revenue assured that critical forms will be functional by the deadline, while others will undergo modifications. The Parliamentary Standing Committee on Finance urged for timely notification of the Income-tax Rules and forms.
Metal stocks took a hit in today's cautious market, with Nifty Metals Index dropping over 4% and key shares like NALCO and Hindalco plunging. The Hormuz crisis and rising crude oil prices have disrupted markets, but surprisingly, metal prices have seen a sharp correction. Indian markets also opened lower, with the auto index dropping around 3%.
The latest report by CLSA suggests that worries about AI taking over IT jobs may be unwarranted. Data shows that hiring in India's IT and software services sector and BPO sector has increased, indicating that AI is not yet negatively affecting jobs. Companies are actively seeking specialized AI talent and plan to add thousands of employees, potentially increasing productivity.
Thalapathy Vijay's last film Jana Nayagan suffers a blow as Amazon Prime Video backs out of a Rs 120 crore deal for digital rights. The film's dispute with CBFC and delays in release have caused Amazon to withdraw, leaving the producers searching for new streaming partners. The project is now in limbo due to financial pressure and delays.
Some controversies flare and fade quickly, but the one surrounding Laura Loomer shows no sign of cooling down. The far-right American activist, known for her hardline pro-Trump and anti-India rhetoric, is arriving in New Delhi this week to speak at the two-day summit at the Taj Palace Hotel. And the reaction has been explosive.
PM Narendra Modi emphasized the need for energy security through domestic infrastructure and self-sufficiency, while addressing the Opposition's fearmongering about LPG shortage. The government has made significant progress in increasing energy capacity, including strategic petroleum reserves and LPG connections. PM Modi promised further efforts to mitigate any impact on energy supply.
The Trump administration has allowed other countries to buy Russian oil at sea to reduce rising oil prices caused by the US-Iran conflict. This decision aims to stabilize global energy markets and maintain low prices. The US Treasury Secretary assures that this move will not greatly benefit Russia, and credits President Trump's energy policies for record levels of US oil and gas production.
In a rare diplomatic manoeuvre, India has managed to safely navigate its crude oil shipments through the Strait of Hormuz, currently the world’s most volatile maritime chokepoints right, without military intervention or confrontation.
Trump welcomes Iranian national football team to 2026 FIFA World Cup but warns about safety concerns due to ongoing conflict between US and Iran. Iranian Sports Minister says country cannot participate due to US killing Supreme Leader. FIFA President says Trump welcomes Iranian team. President of Iran's Football Federation questions sending team to US due to conflict.
U.S. stocks experienced a significant decline of over 1.5% due to Iranian attacks on oil tankers and rising inflation concerns. The S&P 500 saw its largest three-day drop in a month, while Iran's Supreme Leader promised to continue shutting down the Strait of Hormuz. The upcoming Fed meeting may address the impact of increasing fuel costs.
Trump believes that the US will benefit from higher oil prices due to the conflict with Iran, but some lawmakers criticize him for only caring about the rich. Gasoline prices continue to rise and the White House is considering waiving a shipping rule to control costs.
Markets extended losses for the second consecutive day as Brent crude prices hit $100 per barrel mark after a recent dip, amid no signs of de-escalation in the US–Israel–Iran conflict. Brent crude prices surged 10.45% to $101.6 per barrel. The Sensex and Nifty fell 1.08% and 0.95%, respectively, with concerns over inflationary pressures.
India and Iran are discussing ways to ensure safe passage for oil tankers through the Strait of Hormuz. However, two tankers with their transponders off have already crossed the strait, indicating the rise of stealth shipping. In response, Saudi Arabia has increased crude loadings from its west coast, using the East-West pipeline to bypass the strait.
The Food Ministry has instructed state governments to distribute rice and wheat under PMGKAY for three months in advance to address storage problems caused by excess foodgrain stocks. The FCI has a surplus stock of 60.73 MT, 185% more than needed, and is taking measures to manage it. Distribution must be completed promptly after lifting the stock.
Honda Motor is restructuring its EV roadmap and focusing on India for market expansion opportunities. The company has cancelled two models from its global EV programme, but the smaller 0 Series Alpha electric SUV remains on track for production in India. Honda plans to strengthen its product portfolio and cost structure in high-growth markets like India.
India's reliance on Russian crude has been disrupted by US sanctions, making it difficult to find alternative supplies at reasonable costs. The closure of the Strait of Hormuz could further disrupt supply chains. India's strategic reserves and commercial inventories may provide some relief, but the country needs to diversify its routes to mitigate potential challenges.
India's retail inflation hit a 10-month high of 3.21% in February due to increasing food and precious metal prices. Experts predict the RBI will keep policy rates unchanged, citing rising oil prices and geopolitical tensions. The surge in global bullion prices has also affected domestic inflation, particularly in silver and gold jewellery.
The NSE has selected 20 merchant banks and 8 law firms, including Morgan Stanley and JP Morgan, to help with its upcoming IPO. These intermediaries will handle regulatory filings, due diligence, and marketing. The company's valuation, currently at ₹4.89 lakh crore, will be determined by these banks. Rothschild & Co India's role as independent IPO advisor has ended, and the IPO has been approved.
Investors took advantage of rising silver prices through ETFs but booked profits in February, causing the first net outflows in over two years. Despite this, experts believe interest in silver remains strong, with a rise in investor folios and new schemes launched. Silver prices fell due to profit booking and seasonal patterns, but experts advise against tactical bets and suggest including silver.
Rahul Dravid, the former Indian cricketer, will be awarded the prestigious CK Nayudu Lifetime Achievement Award for 2025-26. He is one of the greatest cricketers to have not won a World Cup himself, but has guided the Under-19 and Senior men’s team to world titles. The award will be conferred on March 15, 2026, at the BCCI Naman Awards ceremony.