Author: NNI Editor
The Canadian government would have to play a significant role in any project to build new oil pipelines in Canada to overcome regulatory, financial and political hurdles and activist opposition, industry experts said.With U.S. President Donald Trump threatening tariffs on Canadian oil exports, several Canadian politicians have called for new pipelines to coastal export terminals to reduce dependency on the U.S. market.Oil is the most valuable export of Canada, which is the world’s fourth-largest oil exporter, pumping 4 million barrels per day (bpd) over the border to U.S. refiners. That is about 90% of Canadian oil exports.Canada’s Liberal Energy Minister,…
FILE – The United States Depository for gold reserves stands in Fort Knox, Kentucky, in 1974. (AP Photo, File) The story so far: For over a week now, the catchphrase ‘Fort Knox’ has been stealing the spotlight online, to be more specific, in the U.S. Several conspiracy theories started floating around it and even U.S. President Donald Trump and Tesla CEO Elon Musk, who is also the head of the U.S. Department of Government Efficiency, spoke about it in public. On February 20, 2025, President Trump, at the Republican Governors association meeting, said, “We’re going to inspect Fort Knox.”So what…
Union Minister Piyush Goyal during ‘Key Distribution for Self-redevelopment Project’ at Kandivali, in Mumbai on February 25, 2025. | Photo Credit: PTI Union Commerce and Industries Minister Piyush Goyal on Thursday (February 27, 2025) urged Indian industry leaders to shed their protectionist mindset and focus on becoming globally competitive, instead of depending on government support through subsidies, high import duties, and other protective measures.Speaking at an event organised by the IMC Chamber of Commerce in Mumbai, Mr. Goyal posed a critical question to the industry:“Till when can we look up to the government [for support]? Or, till when can we…
FIIs offloaded equities worth ₹3,529.10 crore on Tuesday (February 25, 2025), according to exchange data. File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty began the trade on a positive note on Thursday (February 27, 2025) but later faced volatile trends amid unabated foreign fund outflows, monthly derivatives expiry and weak global market cues. The 30-share BSE benchmark Sensex climbed 231.97 points to 74,834.09 in early trade. The NSE Nifty went up by 65.75 points to 22,613.30. Later, the indices faced volatile trends and were trading between highs and lows. From the Sensex pack, Bajaj Finserv, Bajaj Finance,…
A roadside currency exchange vendor counts notes in New Delhi, India, February 10, 2025. REUTERS/Priyanshu Singh | Photo Credit: PRIYANSHU SINGH The rupee declined 22 paise to 87.41 against the US dollar in early trade on Thursday (February 27, 2025) after the latest tariff announcements from the US weighed on emerging currencies, including the rupee. Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar. At the interbank foreign exchange, the rupee opened at 87.26, then fell to 87.41 against the American currency, registering a decline of 22 paise over its…
Image used for representational purpose. | Photo Credit: Reuters The Delhi High Court has ordered an Amazon unit to pay $39 million in damages for infringing the “Beverly Hills Polo Club” trademark after garments with identical branding were sold on Amazon’s India website, a court order showed on Wednesday (February 27, 2025).Lawyers called the ruling a landmark judgment in terms of the amount of damages assessed against a U.S. firm in trademark cases.The case was initiated in 2020 by Lifestyle Equities, the owner of “Beverly Hills Polo Club” (BHPC) horse trademark, which alleged Amazon’s India shopping website had listings of…
Xitij Kothi and Gaurav Srivastava | Photo Credit: Special arrangement Vidyut, a full-stack electric vehicle ecosystem platform based out of Bengaluru, has raised $2.5 million (₹21 crore approximately) in funding from global fintech investor Flourish Ventures. The funding will fuel the expansion of Vidyut’s battery-as-a-service offerings in both passenger and commercial EV segments.“With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments,” said Xitij Kothi, co-founder, Vidyut.“Vidyut has solved one of EV financing’s biggest challenges — battery degradation risk. By analyzing real-time…
European Union flags. Representative image | Photo Credit: Reuters The European Union has acknowledged India’s “specific concerns” about implementing the Carbon Border Adjustment Mechanism (CBAM) — the bloc’s tool to levy taxes on imports of certain carbon-intensive goods from early next year — and is ready to address them. While some of the concerns may be “illegitimate”, as the CBAM is a WTO-compatible measure, the EU is committed to addressing all worries and sharing its experience to help in the implementation, an EU official said. “I think we know that the Indian side has had specific concerns on CBAM and on the…
Representative image | Photo Credit: Getty Images/iStockphoto Banks mopped up 75% more resources via infrastructure bond issuances in the current financial year so far, amidst deposit growth lagging credit growth and the cost of funding via this route being as competitive as term deposits. They collectively raised ₹89,588 crore via infrastructure (infra) bond issuances in the first 11 months of the current financial year against ₹51,081 crore in the year ago period. Public sector banks (PSBs) accounted for 90% of the total infra bond issuances in the aforementioned period against 51% in the year-ago period. Private sector banks accounted for the rest.(The…
Wipro Limited, a technology services and consulting company, on Wednesday said it would be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding.This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups, as per a company communique. Srini Pallia, CEO & MD of Wipro, said this investment reaffirmed Wipro’s commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. “Wipro Ventures is strategically positioned to participate…