Business News

Finance Minister Nirmala Sitharaman said non-tariff barriers are India's biggest trade hurdle with China, speaking at a World Bank-IMF session in Bangkok. She noted India is denied market access for generic drugs and agricultural goods despite years of talks, and reaffirmed India's preference for dialogue over retaliatory trade measures.

Brent crude crossed $110 a barrel mark for the first time since May on Friday, before closing at $109.86. Prices rose amid the Iran war, Houthi attacks on Saudi Arabia and Ukrainian strikes on Russian energy infrastructure. Despite the attacks, crude exports remain higher, although they have not crossed pre-war levels again after testing them in September.

The EU sanctioned Mumbai-based Vigor Marine Services LLP and eight other entities for circumventing EU sanctions tied to Russian oil and financial transactions. Vigor's vessels allegedly transported Russian crude oil using high-risk practices, including AIS manipulation. A Dubai firm supplying Russian oil to India's Nayara Energy was also targeted in the latest round of measures.

Accenture has limited employees' use of Anthropic's Claude AI tools after some reportedly consumed tokens worth over $1,000 (around ₹94,959) monthly, 404 Media reported. Employees will be restricted to Claude Enterprise, costing $29 (₹2,753) per person monthly. Those exceeding allocation must submit a Work Breakdown Structure (WBS) identifying the project or team that will fund additional usage.

Starlink said it has worked with Indian regulators for 5+ years, built dedicated infrastructure, and holds all requisite government approvals. The statement follows Reliance Industries pushing back on Elon Musk's remarks accusing 'certain oligarchs' of blocking Starlink's spectrum access. Reliance welcomed competition but stressed all players must abide by Indian laws.

Starlink has responded after Reliance issued a statement over Elon Musk's allegations that the company and Mukesh Ambani were blocking Starlink's entry into India. "We have worked closely with regulators...in India for 5+ years, and built a network of dedicated systems...all in-country to exclusively serve Indian traffic safely and securely - and all with requisite government approvals," it said.

Vedanta Group Chairman Anil Agarwal reacted to Elon Musk-led Tesla's unveiling of a "flying" Roadster sports car using SpaceX rocket thrusters. "Not long ago, we saw these in science fiction movies and books. Today, they are real. What an amazing time we live in," Agarwal said. "When risk-taking entrepreneurship and cutting-edge science combine, they change the world," he added.

A 30-year-old would need to invest around ₹13,100 monthly through a systematic investment plan (SIP) to build a nearly ₹5 crore retirement corpus by age 65, assuming 10% annual returns. At 12% annual returns, the required monthly investment falls to about ₹7,700. However, these are estimates before taxes and costs, and mutual fund returns are market-linked, not guaranteed.

Adani Enterprises and supply chain and manufacturing company Jabil have signed a non-binding Memorandum of Understanding (MoU) outlining a proposed 50:50 joint venture to manufacture and assemble artificial intelligence (AI) and data centre equipment in India. The proposed venture remains subject to the execution of definitive agreements and receipt of applicable approvals.