Electric vehicle adoption in India is accelerating, with sales nearly doubling in the first half of FY26 compared to the previous year. EVs now represent around 5% of total passenger vehicle sales, up from 2.6%. Major players like JSW MG Motor and Tata Motors are leading this surge, with luxury brands also reporting significant growth…
Social Security benefits will see a 2.8% increase in 2026, offering retirees an average monthly boost of over $56. This adjustment, reflecting moderating inflation, will impact nearly 71 million recipients. Despite the rise, many seniors express concern that the increase won’t adequately cover escalating living costs, according to AARP polls.
US inflation remained elevated in September, driven by a surge in gas prices, despite a slowdown in rent growth. Consumer prices rose 3% year-over-year, with core inflation also at 3%. Tariffs are contributing to higher costs for various goods, impacting consumers and businesses.
India’s foreign exchange reserves surged by $4.496 billion to $702.28 billion, primarily due to a significant increase in gold reserves. This rise offset a dip in foreign currency assets, highlighting the Reserve Bank of India’s growing preference for gold over dollar-based assets.
Commerce Minister Piyush Goyal slammed Western nations’ double standards on Russian oil, questioning Germany and UK’s pursuit of sanctions exemptions. He asserted India’s independent trade policy, stating the nation won’t sign deals under pressure.
Reliance Industries said it is evaluating the impact of new US and EU sanctions on Russian oil firms, stating full compliance with EU import guidelines for refined products. The company, a major importer of Russian crude, is diversifying its oil sources, securing shipments from Saudi Arabia, Iraq, Qatar, and the US. This move aims to…
Indian telecom giants Bharti Airtel and Reliance Jio are poised for a significant surge in capital returns by 2028. Analysts predict a “value creation zone” as network spending dips below depreciation, boosting cash flows. This shift, driven by 5G adoption and diversified services, promises improved profitability and faster debt reduction for both operators.
India’s central bank is strategically shifting its foreign exchange reserves, favoring gold over dollar-based assets. The RBI has significantly increased its gold holdings, now exceeding 880 tonnes, while simultaneously reducing its investments in US Treasury Securities to a seven-month low.
New US sanctions on Russian oil giants Rosneft and Lukoil are prompting Indian refiners to seek more crude from the Middle East, Latin America, and the US. While direct Russian imports may dip, supplies are expected to continue via intermediaries. This shift could increase India’s import bill, with Reliance Industries facing the biggest adjustment.
Asian markets rallied Friday, buoyed by the upcoming Trump-Xi meeting, easing trade war fears. Japan’s Nikkei surged on tech gains and inflation data, while South Korea’s Kospi hit a record. Wall Street also climbed, driven by oil price spikes following US sanctions on Russia and strong corporate earnings. Gold prices dipped slightly.
