Economic Times12.05.2026BusinessIndia
GeriPakistan extends austerity as US-Iran talks fail
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HDFC Bank Board to Review Chakraborty Probe Findings, Consider Chairman Extension
HDFC Bank's board meets June 18 to review law firms' findings on Atanu Chakraborty's concerns, with preliminary reports indicating no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval.
Economic Times
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Indian Banks Launch FCNR(B) Schemes with Up to 6.50% USD Deposit Rates
Several Indian banks, including Canara Bank, Federal Bank, Bank of Baroda, and IOB, have introduced FCNR(B) schemes offering attractive interest rates up to 6.50% on US dollar deposits. These schemes, effective from June 2026, aim to boost foreign currency inflows and offer tax benefits to Non-Resident Indians.
Economic Times
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India Considers China-Style Policy for Larger Crude Oil Stockpiles
India is exploring a China-like policy to compel domestic refiners to maintain larger crude oil inventories, aiming to mitigate risks from supply disruptions. This proposal, still in early stages, would require refiners to hold approximately 30 days of national demand, potentially costing Rs 60,000 crore for crude purchases alone.
Economic Times
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SpaceX Buys AI Coding Startup Cursor for $60 Billion in All-Stock Deal
SpaceX, days after its IPO, is acquiring AI coding tool Cursor for $60 billion in an all-stock deal. The move aims to bolster Elon Musk's Grok chatbot, which is losing users, by integrating Cursor's finished product and leveraging SpaceX's abundant compute power.
Times of India
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Reliance Jio Nears $4 Billion IPO Filing, Aiming for Landmark Debut
Reliance Jio is reportedly close to filing draft papers for its $4 billion IPO, potentially becoming one of India's largest public issues. The move follows discussions on valuation and a shift to a fresh issue, with proceeds directed to Jio for expansion.
Times of India
Business·1 sa önce
Warren Buffett's Philanthropic Philosophy: Donating Over 99% of His Fortune
Warren Buffett plans to donate over 99% of his $100+ billion fortune to charity, rejecting the idea of creating a family dynasty. He believes wealth should benefit society and provide opportunities, not undermine merit through excessive inheritance.
Times of India