Economic Times5/7/2026BusinessIndia
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Developing·10m ago
Indian Oil Companies Face Rs 75,000 Crore Loss in Q1, Break-Even Possible Soon
State-run Indian oil companies absorbed over Rs 75,000 crore in losses in Q1 FY24. While petrol and diesel sales may reach break-even in 7-10 days if crude prices stabilize around $75/barrel, LPG sales continue to incur losses. OPEC+ production hikes aim to ease global prices.
Times of India
BREAKING·1h ago
Saudi Arabia Slashes August Arab Light Crude Price for Asia to Lowest Since June 2020
Saudi Arabia significantly cut its August Arab Light crude oil price for Asia to $1.50 a barrel below the Oman/Dubai average, marking its lowest level since June 2020. This deep reduction, which exceeded market expectations, follows a sharp decline in spot crude markets due to increased Middle Eastern supplies.
Economic Times
Developing·2h ago
Fintech Startup Navi Plans FY27 IPO to Raise Rs 3,000 Crore
Navi, co-founded by Sachin Bansal, is preparing to file draft IPO papers in the March quarter of FY27 to raise approximately Rs 3,000 crore, appointing Kotak Investment Banking. This follows a deferred 2022 IPO attempt and ongoing external funding discussions with Prosus to establish a valuation benchmark.
Economic Times
Developing·2h ago
FSSAI Issues Notices to Brands for Misleading Claims
The Food Safety and Standards Authority of India (FSSAI) has issued notices to several food brands, including Heritage Fresh Paneer and La Casa vegan hazelnut chocolate spread, for making misleading claims on their packaging regarding freshness, organic content, and vegan status. The regulator is cracking down on deceptive labeling practices across the food sector.
Times of India
Developing·2h ago
Income Tax Act 2025: New Cash Transaction Limits to Curb Tax Evasion
The Income Tax Act 2025 introduces new limits on cash transactions to combat tax evasion. Key changes include a Rs 2 lakh daily cash receipt limit from one person, cashless transactions for loans/deposits over Rs 20,000, and limits on business expenses and donations.
Economic Times
Developing·3h ago
New 'Other Income' Column in ITR for AY 2026-27: Voluntary Disclosure of Exempt Income
The ITR filing for AY 2026-27 introduces an 'Other Income' column under the Exempt Income Schedule, allowing taxpayers to voluntarily disclose non-taxable receipts like rural agricultural land sales or gifts. Experts advise this proactive reporting to prevent tax notices and record mismatches.
Economic Times