Business

Tehran/Islamabad: Iran Friday said that the Strait of Hormuz is "completely open" for all commercial vessels, a move welcomed by US President Donald Trump. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely...

New Delhi: India has slipped to sixth place among the world’s largest economies, according to the International Monetary Fund’s April 2026 World Economic Outlook. The IMF clarifies that the change reflects a nominal‑ranking shift, while India continues to be the fastest‑growing major economy. It projects...

New Delhi: Tycoon Gautam Adani has overtaken fellow Gujarat business czar Mukesh Ambani to become Asia's richest person, as a sustained rally in shares of his ports-to-energy conglomerate lifted his net worth. With a net worth of USD 92.6 billion, Adani surpassed Ambani, whose fortune...

New Delhi: The Supreme Court Thursday dismissed the pleas of industrialist Anil Ambani challenging the Bombay High Court order that allowed the proceedings initiated by banks against him and Reliance Communications Ltd to classify their bank accounts as fraud to continue. A bench of Chief...

Washington: Indian Ambassador to the US Vinay Mohan Kwatra met US Trade Representative Jamieson Greer and former National Security Adviser Robert O'Brien . The meeting Wednesday comes as India and the US are negotiating the finer elements of a bilateral trade agreement (BTA). A delegation...

Washington: The United States Wednesday ruled out granting any further exemption from sanctions for the purchase of Russian or Iranian oil. US Treasury Scott Bessent made the announcement at a press conference at the White House. We will not be renewing the general license on...

Washington: India’s strong economic growth is helping cushion fiscal pressures, but risks from subsidies and elevated debt remain, the International Monetary Fund (IMF) said. “Strong growth makes life much easier. It can’t be much in a better position if they were growing as India is...

Karachi: Pakistan's Central Bank has legalised the use of virtual assets, including cryptocurrencies, by introducing the Virtual Assets Act 2026, marking one of the biggest changes in the country's digital financial landscape in recent years. Under the new law, the State Bank of Pakistan has...

Islamabad: Pakistan's skewed foreign reserves got a major boost after Saudi Arabia pledged an additional USD 3 billion in deposits while extending its existing USD 5 billion facility for a further three years. Pakistan's Finance Minister Muhammad Aurangzeb made the announcement in Washington while speaking...

New Delhi: The country's merchandise exports dropped 7.44 per cent to USD 38.92 billion in March, according to government data released Wednesday. Imports too dipped by 6.51 per cent to USD 59.59 billion last year from USD 63.75 billion recorded in the year-ago month, reflecting...