The Reserve Bank of India has set a new limit for banks on their foreign currency dealings in the rupee. This move aims to control speculative trading and stabilize the Indian currency. Banks must now keep their open positions within 100 million US dollars each day. This regulation comes as the rupee faces pressure and...Read More

Doha Bank is exiting its branch operations in India. The Qatari bank will close its Mumbai and Kochi branches after more than a decade. It will now operate solely through a representative office in the country. This strategic shift was approved by the bank’s board of directors. Doha Bank had launched its India operations in...Read More

U.S. stocks plunged Friday, with major indexes hitting over six-month lows as the Middle East war suppressed risk appetite. Megacap and software stocks led the decline, while rising oil prices fueled inflation fears and dampened rate cut expectations. Markets now anticipate potential Fed rate hikes.Read More

Online ​furniture ​rental platform ​Rentomojo has filed for an initial ‌public ⁠offering ⁠in ​Mumbai, according to a ​draft prospectus dated Friday.Read More

Reliance Industries Ltd. is planning a massive IPO for its telecom arm, Jio Platforms Ltd. The company is setting investment banking fees at a competitive 0.65% of the issue size. This move is in line with the National Stock Exchange of India Ltd.’s proposed fees. The Jio IPO could be India’s largest ever.Read More

Citigroup has denied a Bloomberg report suggesting it was considering acquiring a U.S. regional bank, stating the speculation is “baseless.” The bank emphasized its sole focus remains on organic growth and executing its ongoing transformation strategy. This denial comes as Citigroup works to complete regulatory compliance and improve profitability.Read More

The Indian rupee hit a record low of 94.81 against the dollar, nearing 95, as surging crude oil prices and a potentially prolonged West Asia conflict weighed on the currency. Mild central bank intervention offered little respite, with traders now forecasting levels as weak as 97 per dollar.Read More

Rocket Pharmaceuticals’ shares dropped significantly after gaining FDA approval for Kresladi, a gene therapy for a rare childhood immune disorder. Investors are concerned about practical challenges limiting patient access, despite the drug’s potential to help those with severe Leukocyte Adhesion Deficiency-I. The company plans a phased launch with limited availability.Read More

Philadelphia Federal Reserve President ​Anna Paulson said on ​Friday the Iran war is creating challenges for ​the U.S. economy, while stopping short of saying what that might mean for near-term changes in monetary policy.Read More

The Reserve Bank of India (RBI) on Friday mandated the use of Legal Entity Identifier (LEI) and Unique Transaction Identifier (UTI) for transactions in financial markets.Read More