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Record petrol prices are likely to rise even further and motorists should get used to paying more than $2 a litre as global oil prices continue to climb, further complicating the fight to tame persistently high inflation.

LIC), the country's largest insurer, has stepped up federal and state debt purchases to reduce capital volatility, according to sources and market participants, also helping lower government borrowing costs. The shift, previously unreported, has helped states reduce costs by more than 40 basis points (bps) over the past 15 months. «LIC has been increasing their investment into state debt,» confirmed a senior official from the state-run insurer, requesting anonymity as they were not authorised to speak to media. LIC did not respond to an email sent by Reuters. Continuous process The shift began in fiscal 2023, not long after LIC went public. LIC began shifting investments from its non-participating fund to debt from equity to reduce volatility in its solvency margin, said another person familiar with the matter, who also declined to be named. Solvency margin, a key measure of capital, refers to the excess capital insurers maintain over claim amounts they may incur. This usually comes out of funds derived from non-participating policies. The plan to shift is a «continuous process» and will be done gradually, they said, declining to specify to what level LIC intends to take its debt investments.

Indian pharmaceutical industry stands at the crossroads of tradition and technology, AI emerges as a transformative force poised to revolutionize drug discovery, development, and patient care. Imagine algorithms sifting through mountains of molecular data, predicting drug interactions, and customising treatments with unparalleled precision. While the use of AI is still in early stages in the Indian pharmaceutical industry, it is only a matter of time be it will be used extensively.

Barrenjoey Capital Partners has reported a $26 million dollar net loss after spending more than $62 million setting up new business units over the past financial year.

Emami shares climbed 5% to Rs 537.8 in Friday's trade on BSE after the company announced its entry into the health juice category with the acquisition of a 26% stake in Axiom Ayurveda, which markets a range of beverages under the brand name AloFrut. “We are delighted to announce our partnership with Axiom Ayurveda through a strategic investment in equity.

an article that raised concerns about the risk management practices in the peer-to-peer (P2P) lending space in India. This is why I am compelled to remove all doubts about the robustness of the P2P lending space in India. Here are the reasons that makes the Indian P2P lending space unique and relatively safe for investors.

shut down the government—and once again the fight is a costly addition to the country’s economic problems. If Congress and the Biden administration do not strike a deal to fund the federal government, from October 1st it may need to furlough employees and freeze non-essential payments. House Republicans cannot even agree among themselves about what spending cuts to demand of the Senate and the White House, with hardliners seeking to sabotage a bipartisan deal struck in the summer.

LAC) with China, according to officials who wished to remain anonymous. What makes this road indispensable is its invisibility from the LAC, enhancing its security. The new road, which will be used for the movement of soldiers, weapons and logistics to bolster the front lines, cannot be seen from across the LAC.

UltraTech Cement and Ambuja. Jefferies maintained a buy rating on L&T and CLSA recommended a Sell on Maruti Suzuki. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Macquarie on Cement: UltraTech Cement and Ambuja Cements Macquarie maintained an outperform rating on UltraTech Cement but raised the target price to Rs 9250 from Rs 9087. The global brokerage firm recommends outperform rating on Ambuja Cements but slashed the target price to Rs 480 from Rs 506 earlier. Macquarie maintained a neutral rating on Shree Cement but slashed the target price to Rs 25,149 from Rs 25,236 earlier. The global investment bank remained neutral on ACC but raised the target to Rs 2128 from Rs 1998 earlier.

Liontown Resources says it has managed to keep a lid on cost blowouts associated with building its flagship Kathleen Valley lithium project but needs to lock in more than $450 million in additional finance within the next three months to keep going.

Bank of Queensland is axing up to 250 jobs, marking the latest cuts to employees across the banking sector.

The range is home to one of the world’s largest deposits of olivine, a green mineral that a startup wants to extract, grind up and scatter along shorelines to absorb carbon dioxide from the atmosphere. The world will need to remove billions of tons of CO2 directly from the air each year by the middle of the century to avert the worst impacts of climate change.

Also Read: US agency files lawsuit against Tesla over alleged harassment of Black factory workers The sportswear maker also forecast a 100 basis point increase in second-quarter gross margins, following six consecutive quarters of declines, on the back of fewer planned markdowns and lower freight costs. The company maintained its annual forecasts and said it expected second-quarter revenue to be up slightly. Analysts had expected a 2.1% rise to $13.59 billion, according to LSEG data.

unit economics and boost margins. The moves are part of a broader push by consumer-focussed firms to turn profitable by reducing cost per order.

bond yields surged on Thursday, registering their sharpest single-day rise in 2023, as higher crude oil prices, uncertainty over US interest rates and technical difficulties due to sudden changes in trading holidays sent participants rushing to sell securities. Higher sovereign bond yields drive up overall borrowing costs in the economy as government securities are the benchmarks used by corporate entities to determine the pricing of their debt issuances. The government bond market on Thursday witnessed its worst selloff in 10 months, with yield on the 10-year benchmark government bond shooting up 7 basis to close at 7.24%. Thursday's rise in yields was the largest single-day jump since November 2022. Bond prices and yields move inversely.

AmeriVet Securities head of U.S. rates Gregory Faranello on the Fed pausing rate hikes, his outlook for the market and the UAW strike.  

Restrictions on food exports are spilling over from rice and wheat to other essentials

MUMBAI : The MCX stock surged 9% to an almost two year intraday high of ₹2,114.40, after the country’s largest commodity derivatives bourse informed the stock exchange that it would migrate to the TCS commodity derivatives platform by 3 October. The Street cheered the news as the migration will end the heavy cost that MCX was paying its vendor 63 Moons for extension of its software contract since September last year. The cost incurred for the one-year extension stands at ₹472 crore, against the ₹60 crore per annum it was paying 63 Moons for the platform before the contract expired in September last year.

NEW DELHI : Ashwin Dani, a prominent figure in the storeyed legacy of Asian Paints, which was founded by his father, has passed away at the age of 81 after a short illness. He served as a non-executive director of the firm. Dani played a pivotal role in developing India’s paints industry, capitalizing on increasing demand from the country’s emerging middle class.

Legal inquiries into PwC Australia’s tax leaks scandal have concluded that it did not lead to a “reduction in tax revenues for Australia”.

MUMBAI : The MCX stock surged 9% to an almost two year intraday high of ₹2,114.40, after the country’s largest commodity derivatives bourse informed the stock exchange that it would migrate to the TCS commodity derivatives platform by 3 October. The Street cheered the news as the migration will end the heavy cost that MCX was paying its vendor 63 Moons for extension of its software contract since September last year. The cost incurred for the one-year extension stands at ₹472 crore, against the ₹60 crore per annum it was paying 63 Moons for the platform before the contract expired in September last year.