A foreign exchange violation case against Apollo Hospitals and five directors has been terminated after the company paid over Rs 17.76 crore and executives paid Rs 18 lakh each. The settlement resolves alleged contraventions totalling more than Rs 2,424 crore under the Foreign Exchange Management Act (FEMA).
A World Gold Council survey reveals 45% of central banks plan to increase gold reserves due to geopolitical uncertainty and declining trust in the US dollar. Most expect global reserves to rise, with gold seen as a crisis hedge and inflation buffer.
India faces economic vulnerability due to the US-Iran conflict, impacting its focus on Fuel, Fertiliser, and Forex. Rising global prices for oil and fertilisers strain finances, while a falling rupee pressures foreign exchange reserves. Experts debate structural risks and policy responses.
Anúncios patrocinados no X (Twitter) usam imagens falsas geradas por IA, simulando uma briga entre Vera Magalhães e Roberto Sallouti (CEO do BTG Pactual) no programa Roda Viva. O objetivo é direcionar usuários a um site de investimentos de alto risco em forex, prometendo retornos irreais.
South Korea's Finance Ministry urged major exporters like Samsung and Hyundai to convert export earnings into the won promptly to ease recent volatility in the foreign exchange market, where the won has weakened significantly against the dollar.
South Korea's foreign exchange reserves fell by $880 million to $426.99 billion at the end of May, primarily due to market stabilization measures including currency swaps with the National Pension Service. The country maintained its 12th global ranking.
Enforcement Directorate (ED) searched several premises of Vedanta Ltd in Delhi, Mumbai, and Udaipur over suspected FEMA violations related to brand royalty payments between its UK parent and Indian subsidiary. Vedanta is cooperating with the investigation.
Bloomberg Economics estimates the RBI sold $12 billion in gold in two weeks ending May 22 to protect foreign exchange reserves amid rising energy costs and currency pressure due to the US-Iran conflict.
The Enforcement Directorate (ED) conducted searches against Vedanta Group on Monday as part of an investigation under the Foreign Exchange Management Act (FEMA). The mining conglomerate, promoted by Anil Agarwal, is cooperating with the authorities.
India's economy has been repeatedly reshaped by oil shocks, from inflation and forex pressure to wider economic shifts. The country has navigated five decades of crude disruptions, from the 1973 Arab embargo to the recent Hormuz crisis, adapting its policies and sourcing strategies.
South Korea's foreign exchange authorities have intervened verbally to stabilize the won, stating they are closely monitoring the currency's movements against the dollar, which closed at 1,517.2 won, up 11.1 won from the previous day.
Indonesia's new trade policy, aimed at curbing under-invoicing and transfer pricing, faces criticism from economists, farmers, and industry groups concerned about potential state monopolies and market access disruption.
India's PM urges citizens to consume less fuel, fertiliser, gold, and curb travel due to surging global energy prices and war in Iran, signaling a shift from neoliberal globalization towards strategic economic management.
India has restricted silver imports, requiring government approval, to prevent traders from exploiting a duty gap created by a recent tax hike on precious metals via the India-UAE free trade agreement.
India raises import tariffs on gold and silver to 15% to curb imports and ease pressure on foreign exchange reserves
PM Modi has called on citizens to adopt measures aimed at conserving foreign exchange, as the surge in oil prices triggered by the Iran conflict has intensified pressure on the rupee and strained India’s foreign exchange reserves.
India's jewellery industry urges against curbing gold purchases, emphasizing its cultural significance as savings and tradition. Instead, they propose enhanced gold recycling and domestic mobilization to ease foreign exchange pressure. This approach aims to protect millions of livelihoods tied to the sector, from artisans to small businesses, by circulating existing gold rather than stifling demand.
Corporate India is embracing Prime Minister Modi's call for work-from-home and reduced travel. Major companies like KPMG, Deloitte, and Tata Motors are reviewing policies, with many already operating hybrid models. Businesses are prioritizing virtual meetings and restricting non-essential trips to conserve foreign exchange and ensure continuity amidst global uncertainties.
Defence Minister Rajnath Singh assured citizens that India is prepared for global supply chain disruptions, with ample petroleum products and robust foreign exchange reserves. He urged fuel conservation to ease the nation's financial burden amid high international crude prices. The government is implementing measures for fuel efficiency and responsible consumption.
SEOUL, May 12 (Yonhap) -- South Korean food company CJ Cheiljedang Corp. said Tu...
Prime Minister Modi urged Indians to halt gold purchases for a year to protect foreign exchange reserves, a call supported by GTRI which highlighted a surge in gold imports straining the trade balance. Union Minister Ashwini Vaishnaw echoed the appeal, emphasizing reduced import spending amid Middle East conflict, leading to a sell-off in jewellery stocks.
Amidst the escalating Middle East conflict, Union Minister Ashwini Vaishnaw echoed PM Modi's call for Indians to reduce import spending and conserve foreign exchange. He urged citizens and businesses to make conscious choices to save forex, highlighting fuel expenditure as a key area for reduction. This initiative aims to protect the nation's economic interests as global energy supplies face strain.
He said the austerity measures would reduce India's fuel use and help save foreign exchange.
Jewellery stocks saw a sharp decline on Monday. Prime Minister Narendra Modi appealed to citizens to reduce gold purchases. This call aims to preserve foreign exchange reserves. Major jewellery companies experienced significant drops in their share prices. Investors reacted quickly to the potential demand impact. Indian equities opened lower amid global concerns.
