Author: NNI Editor

The question on every trader’s lips in Argentina: How much will the peso be worth on Monday morning?The long-suffering currency will start on a new exchange rate regime on Monday after the government dismantled large parts of the country’s years-long capital controls, putting the peso on a far wider trading band than its previous fixed peg.The peso will now be allowed to float freely within a gradually expanding band between 1,000-1,400 pesos per dollar. It closed at 1,074 per dollar on Friday, with parallel markets at 1,355. The official exchange rate was previously on a crawling peg, only allowed to…

Country’s largest lender State Bank of India (SBI) and Bank of India have reduced lending rates following Reserve Bank of India’s (RBI) policy rate cut. | Photo Credit: Reuters Bringing cheer to borrowers, the country’s largest lender State Bank of India (SBI) and Bank of India have reduced lending rates following Reserve Bank of India’s (RBI) policy rate cut, making loans cheaper for both existing and new borrowers. Private sector major HDFC Bank has lowered interest rate on savings accounts.Both the SBI and Bank of India have announced a reduction of 25 basis points in their home loan interest rates.…

Image for representation | Photo Credit: The Hindu Growth in demand for diesel, India’s most consumed petroleum product, fell to its lowest since the pandemic in the financial year ended March 31 as the economy expands at a slower pace and consumption shifts to cleaner fuels.Diesel consumption rose 2% to 91.4 million tonnes in 2024-25 (April 2024 to March 2025) fiscal, according to provisional data released by the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry.The growth in demand for diesel, which is used to power trucks and farm machinery, in 2024-25 was slower than 4.3% in the…

Pharma major Dr. Reddy’s Laboratories has denied it has embarked on an exercise aimed at a 25% workforce cost reduction.The company on Monday evening dismissed a media report which, citing sources, said the Hyderabad-headquartered generic drugmaker, as part of a 25% workforce cost cutting exercise, had asked several employees drawing relatively high salaries, especially many of those earning over ₹1 crore annually, to resign.“We categorically deny the claim of a 25% workforce cost reduction and the other claims mentioned,” Dr. Reddy’s said in a filing with the stock exchanges. The company does not comment on market speculations and there is…

Real estate tycoons Lodha brothers and the companies headed by them, which were locked in a trademark violation dispute, have ‘amicably’ resolved all outstanding disputes ‘under the guidance of their parents’, according to statements from both sides.As per the Bombay High Court directed mediation process, Macrotech Developers Ltd. (MDL) led by the elder brother Abhishek Lodha, is the owner of, and has the exclusive right to use the brand names Lodha and Lodha Group. “Abhinandan Lodha, is the owner of, and has the exclusive right to use the brand name House of Abhinandan Lodha (HoABL),” according to the statement.Lodha Group…

Intelligent engineering solutions provider Cyient has bagged a contract forming part of a hydrogen production and distribution facility at Langstranda in Bodø, Norway.It will support GreenH Bodø in the development and execution of the facility, which in turn is part of a joint venture between Norwegian company GreenH and Hamburg, Germany-based independent asset manager Luxcara. Cyient said the scope of its work, under the contract, includes providing comprehensive owner’s engineering and detailed plant engineering services. It will leverage its experience in green and renewable energy engineering, including green hydrogen towards optimising project delivery and enhancing efficiency through the lifecycle of…

Volkswagen India launched Tiguan R-Line SUV which is priced at ₹49 lakh (ex showroom introductory price).  | Photo Credit: Special Arrangement Even though U.S. President Donald Trump has paused reciprocal tariffs on about 70 countries for 90 days and the U.S. and China have gone in for a competitive tariff war to outbid each other, a top executive of European auto giant Volkswagen Group said adding such measures were against free trade and would disrupt global supply chains.“Volkswagen group has exposure to lot of geographies even China and North America. The U.S. is one of the major markets, so of…

Investors’ wealth eroded by ₹11.30 lakh crore since early this month, where the BSE benchmark Sensex tumbled nearly 2%, as stock markets experienced turbulence. | Photo Credit: Reuters Investors’ wealth eroded by ₹11.30 lakh crore since early this month, where the BSE benchmark Sensex tumbled nearly 2%, as stock markets experienced turbulence in recent times initially due to U.S. President Donald Trump unveiling a massive tariff plan, followed by growing concerns of a tit-for-tat trade war between China and the US. Since April 2, the BSE benchmark gauge has slumped 1,460.18 points or 1.90%. Tracking uncertainty in equities, the market…

A view of electric vehicles (EV) for export and containers sitting at a port in Shanghai, China | Photo Credit: via Reuters China’s exports jumped 12.4% in March from a year earlier in a last-minute flurry of activity as companies rushed to beat increases in U.S. tariffs imposed by U.S. President Donald Trump, and analysts forecast sharp setbacks ahead. Imports fell 4.3% to $211.3 billion in March, the customs administration reported, far exceeded by exports worth $313.9 billion, leaving a trade surplus of $102.6 billion. “But shipments are set to drop back over the coming months and quarters,” Julian Evans-Pritchard…

Shrimp being processed in an export unit in Andhra Pradesh. File | Photo Credit: Special Arrangement India’s seafood exporters are preparing to ship 35,000-40,000 tonnes of shrimp to the United States with orders remaining stable after U.S. President Donald Trump paused a planned 26% reciprocal tariff, reducing the duty to 10%, industry officials said on Monday (April 14, 2025).“There is a lot of relief now as we are at par with other exporters to the US. Now the shipments that were held back will be processed,” Seafood Exporters Association of India Secretary General K.N. Raghavan told PTI.Also read | Seafood…