Business

US treasury secretary Scott Bessent criticised China’s decision to tighten control of rare earth exports, calling it a “mistake” that cautioned everyone.Reflecting on China’s decision to introduce new export restrictions in October, Bessent said the move had revealed Beijing’s willingness to weaponise rare earths, a group of minerals that are vital to defence systems, electric…

Small and low-risk enterprises will soon be able to secure their Goods and Services Tax (GST) registration in just three working days. The GST department is introducing a simplified registration route for small and medium businesses, which becomes operational from Saturday. India’s Digital ID, GST Reform Win Global Recognition From IMF Chief Kristalina Georgieva Under…

Coal India Ltd (CIL) reported a 9.8 per cent year-on-year fall in production to 56.4 million tonnes in October, reflecting a continuing slump in operations amid subdued demand and post-monsoon challenges.According to provisional data released by the company on Saturday, coal offtake during the month also declined 5.9 per cent to 58.3 million tonnes, PTI…

Imagine running a small telecom company and convincing the world’s biggest asset manager, BlackRock, that your business is booming. That’s what Indian-origin entrepreneur Bankim Brahmbhatt allegedly managed to do.Through his companies — Broadband Telecom, Bridgevoice, and Carriox Capital — Brahmbhatt borrowed more than $500 million from private-credit lenders led by HPS Investment Partners, a firm…

State Bank of India (SBI) on Saturday said it has executed its first gold trade as a special category client (SCC) on the India International Bullion Exchange (IIBX), marking a key step in reshaping India’s bullion import framework.The move, SBI said, signals “a transformative era” for the bullion trade by enhancing efficiency, transparency, and accessibility,…

NTPC Ltd has begun drilling India’s first-ever geological carbon dioxide (CO2) storage well at its Pakri Barwadih coal mine in Jharkhand, marking a significant milestone in the country’s carbon capture and storage efforts.The initiative, spearheaded by NTPC’s R&D arm– the NTPC Energy Technology Research Alliance (NETRA)– represents a crucial step in advancing India’s Carbon Capture,…

Gold prices continued to slide for the second straight week, pressured by a stronger dollar, easing geopolitical tensions, and the US Federal Reserve’s cautious signals on rate cuts that dented demand for safe-haven assets.On the Multi Commodity Exchange (MCX), gold futures for December delivery fell Rs 2,219, or 1.8 per cent, over the week. The…

China on Saturday said it will exempt certain Nexperia semiconductor products from an export ban imposed amid a dispute with Dutch authorities, signalling a partial easing of tensions that had alarmed European businesses.Anxiety over potential chip shortages had mounted after the Netherlands invoked a Cold War-era law in late September to take control of Nexperia,…

Warren Buffett’s Berkshire Hathaway reported a 17% rise in quarterly profit, boosted by a rebound in its insurance operations and gains from investments, even as the legendary investor prepares to hand over the reins to Vice Chair Greg Abel in January, AP reported.The company said on Saturday that it earned $30.8 billion, or $21,413 per…

In a major step towards restructuring its operations, Eastern Coalfields Ltd (ECL) has reopened two previously closed mines under the Mine Developer and Operator (MDO) revenue-sharing model. The move, inaugurated virtually by Union Coal Minister G Kishan Reddy on Saturday, marks a strategic shift aimed at reviving loss-making assets and improving operational efficiency, PTI reported…