Category: Business & Economy

  • US Sanctions Delay Russian Oil Shipment to China by Over Seven Weeks

    US Sanctions Delay Russian Oil Shipment to China by Over Seven Weeks

    A big shipment of Russian oil to China took a lot longer to arrive than it used to. Normally, it would take about a week to deliver oil, but because of new US sanctions against Russia, this delivery took over seven weeks!

    The oil, called Sokol crude, came from a Russian project in Sakhalin. It was transported by a huge ship named the Daban, which had to get its oil from smaller ships in a safe bay called Nakhodka Bay, off Russia’s coast. This transfer took around ten days to complete.

    After picking up the oil, the Daban couldn’t dock at two other ports in China before finally arriving at Huangdao. This shows that while oil deliveries from Russia are still happening, sanctions are causing delays.

    The Biden administration’s sanctions on Russia are stronger than past ones. Some shipments of Russian oil are still getting through, but they are facing problems. For example, another ship in the Baltic Sea has been waiting over a month to unload its cargo, which is very unusual.

    The Daban spent ten days waiting near Yantai before moving to another port, Rizhao, where it waited another ten days before finally reaching Huangdao. The oil was delivered using three shuttle tankers that the US sanctioned earlier this year.

    Interestingly, the Daban has carried oil from Iran before but is not currently under sanctions.

  • iPhone 16e Sales Surge, But Challenges Loom in China Market

    iPhone 16e Sales Surge, But Challenges Loom in China Market

    Apple has launched its new iPhone 16e, and it’s selling faster than the old iPhone SE from 2022. However, it might not help Apple much in China, where sales are expected to drop by about 2% this year. A research company called IDC found that the iPhone 16e sold 60% better in its first three days compared to the older model. But there’s tough competition from Android phones that are getting help from the Chinese government, which is giving out a lot of money to support Android brands like Xiaomi and Vivo.

    The new iPhone 16e costs $599, while the older SE was only $429. This higher price makes it harder for Apple to compete with cheaper Android phones. The iPhone 16e has only one camera at the back, not much storage, and fewer smart features, which makes it less appealing in China.

    The Chinese government has set aside about $41 billion to help boost the economy, which includes support for smartphone sales. Apple is also trying to bring more smart features to its devices in China later this year. Some analysts believe that Apple could sell more in other countries, like India, where they expect the 16e to account for about 20% of iPhone sales in the second half of the year.

    Apple’s sales in China dropped by around 11% during the holiday season, mainly due to weak iPhone sales. Overall, the company thinks its revenue will only grow a little in this period.

  • Market Dips but Stocks Soar: Find Out the Top Gainers Today!

    Market Dips but Stocks Soar: Find Out the Top Gainers Today!

    NEW DELHI: Many stocks saw big jumps of 5% or more on Thursday, even though the stock market closed lower. The Sensex, which is a big measure of the market, dropped by 200.85 points to end at 73,828.91. Some of the top winners in the market today were Ontic Finserve, Soni Medicare, and Jupiter Infomed, all rising by 10%. Others like GRP Ltd, Indo Euro Ind, and Quantum Digital also had gains close to 10%.

    In the Nifty 50 index, which includes 50 of India’s main companies, stocks like BEL (up 1.18%), SBI (up 0.67%), and NTPC (up 0.54%) were among the few to rise. The Nifty 50 ended 73.3 points lower at 22,397.2. Out of the 50 companies in the Nifty, 15 saw their prices go up, while 35 went down.

  • Puma Jobs Cut: Store Closures Due to Weak US Sales

    Puma Jobs Cut: Store Closures Due to Weak US Sales

    Puma, the famous sportswear brand, announced on Wednesday that it will lay off 500 workers around the world and shut down some stores that are not making money. This decision comes as Puma faces problems with sales in the US, where people are not buying as much due to economic worries. The company’s shares dropped by 23% after it shared disappointing forecasts about its sales and profits.

    Puma’s CEO, Arne Freundt, noted that many of their customers in the US are holding back on spending because they are worried about the economy. This news follows a weak report of quarterly sales and overall profits, raising fears about how well Puma can compete with bigger brands like Adidas and Nike, as well as newer brands like On Running and Hoka.

    Moreover, about 10% of the shoes that Puma sells in the United States come from China, which now has new tariffs set by President Donald Trump. To deal with this, Puma is asking its suppliers to find other countries, like Indonesia, to produce their shoes.

    Puma expects its sales to grow slowly this year, in the low to mid-single-digit range, compared to a 4.4% increase in 2024. Meanwhile, Adidas, one of Puma’s biggest competitors, is doing well and is taking a careful approach for 2025.

    What worked for both Puma and Adidas last year were retro shoe styles that they brought back. Puma is planning to sell 4 million to 6 million pairs of its retro “Speedcat” sneakers, which are inspired by motor racing.

  • Puma Cuts 500 Jobs Amid Weak US Sales

    Puma Cuts 500 Jobs Amid Weak US Sales

    Puma, the sportswear company, announced on Wednesday that it will be cutting 500 jobs and closing some stores because US customers aren’t buying as much. This news came after Puma shared disappointing sales results, which caused its stock price to drop by 23%.

    Puma’s CEO, Arne Freundt, explained that people in the US are worried about the economy and are spending less money. This bad news followed a report of weak sales and profit in January. It raised concerns about how Puma can compete against larger brands like Adidas and Nike, as well as newer brands like On Running and Hoka.

    Additionally, Puma mentioned that about 10% of the shoes imported to the US come from China, which now face new tariffs set by former President Donald Trump. Because of this, Puma is asking suppliers to move production to other countries, like Indonesia.

    The company estimates its sales will grow slowly this year, aiming for a low to mid-single-digit percentage increase, compared to a 4.4% growth in 2024. On the other hand, Adidas performed well in 2024 and is being careful about its plans for 2025.

    One successful product for both Puma and Adidas last year was the revival of classic shoe designs. Puma confirmed that it still plans to sell between 4 to 6 million pairs of its popular “Speedcat” sneakers, inspired by motor racing.

  • Stock Market Today: Nifty Falls but Kotak Bank Hits New High!

    Stock Market Today: Nifty Falls but Kotak Bank Hits New High!

    NEW DELHI: Stock Update
    Today, many companies like Coastal Corp, Cinevista Ltd, Spencer’s Retail, Rajnandini Metal, and Nath Bio-Genes saw their stock prices drop to the lowest point in a year. The main stock market in India, the NSE Nifty, fell by 27.41 points, ending at 22,470.5. The BSE Sensex, another important index, went down by 72.56 points, closing at 74,029.76.

    On a brighter note, some companies like NACL Industries, ARSS Infra, Kamat Hotels, Camlin Fine Chemicals, and Kotak Bank reached their highest stock prices in a year.

    In the Nifty 50 index, the stocks that did really well today were IndusInd Bank, Tata Motors, Kotak Bank, Bajaj Finance, and HDFC Bank. However, some big names like Infosys, Wipro, Tech Mahindra, Nestle India, and TCS didn’t perform so well, finishing as the top losers of the day.

  • India’s Mutual Funds Decline by ₹3 Lakh Crore in February—What Happened?

    India’s Mutual Funds Decline by ₹3 Lakh Crore in February—What Happened?

    In February, India’s mutual funds lost about ₹3 lakh crore because the stock market had a rough month. Their total assets shrank from ₹67.3 lakh crore in January to ₹64.5 lakh crore this month, a drop of 4%.

    Even though many investors were worried, the amount of money coming in from small, regular investments called Systematic Investment Plans (SIPs) only went down a little, from ₹26,400 crore in January to ₹25,999 crore in February.

    Net investments in stocks dropped significantly too. In February, net investments were only ₹29,241.78 crore, down from ₹39,669.6 crore in January. Overall, total money coming into mutual funds was ₹40,063 crore. However, there were a lot of sell-outs too, amounting to ₹1,87,551 crore.

    Small-cap funds faced the biggest trouble, with inflows dropping from ₹5,721 crore in January to ₹3,722.5 crore in February. Mid-cap fund inflows also fell from ₹5,148 crore to ₹3,407 crore, while large-cap funds saw a smaller decline.

    On a brighter side, debt funds did better, gaining ₹1,065 crore in February after losing money in January. Gold ETFs attracted ₹1,980 crore, but that was much less than the ₹3,751.4 crore they received in January.

  • Starlink and Airtel Join Forces to Improve Internet Access in India

    Starlink and Airtel Join Forces to Improve Internet Access in India

    New Delhi: Starlink, the satellite internet company owned by SpaceX, has teamed up with Bharti Airtel to bring internet services to customers in India. This is a big step for Starlink as it wants to enter India’s broadband market. However, Starlink still needs to get permission to provide internet services within India.

    Airtel, one of India’s leading telecom companies, is already working with Eutelsat OneWeb on another satellite internet project. They are now excited to work with Starlink too. Starlink has a large fleet of 6,750 satellites operating in low Earth orbit, making it the biggest satellite constellation in the world. In comparison, Eutelsat OneWeb has only 634 satellites.

    Gopal Vittal, the managing director of Airtel, said that this partnership will help deliver high-speed internet even to the most remote areas of India. With Airtel’s help, Starlink will reach homes, businesses, schools, and healthcare facilities.

    Airtel is focusing on providing internet to areas in India that currently have little or no access. They offer various broadband products, including 5G services and fiber internet. The cost of Starlink’s services in the U.S. starts at about $80 a month and offers speeds between 25Mbps and 500Mbps. However, the pricing and details for India are not yet available.

  • Nifty Bank Index: Key Winners and Losers of the Day!

    Nifty Bank Index: Key Winners and Losers of the Day!

    In New Delhi, the Nifty Bank index ended the day on a low note, which means it lost some value. However, not all banks struggled. ICICI Bank’s share price increased by 2.52%, Canara Bank went up by 0.96%, Kotak Mahindra Bank rose by 0.7%, State Bank of India had a small increase of 0.14%, and Federal Bank went up by 0.05%. These banks were the top performers today.

    On the flip side, some banks faced big losses. IndusInd Bank dropped sharply by 27.16%, Au Small Finance Bank fell by 3.11%, IDFC First Bank went down by 1.8%, Axis Bank lost 0.99%, and Bank of Baroda dropped by 0.73%. Overall, the Nifty Bank index ended 0.75% lower, closing at 47,853.95.

    In other news, the main Nifty50 index increased slightly by 37.61 points, ending at 22,497.9. The BSE Sensex finished down by 12.85 points at 74,102.32. Among the 50 stocks in the Nifty50, 29 gained value, while 21 saw a drop.

    Popular stocks traded today included Vodafone Idea, Zomato, IndusInd Bank, YES Bank, and Suzlon Energy. Notably, Nitiraj Engineers, Sarda Energy, Taj GVK Hotels, AXISCADES Engg Tech, and California Soft hit new highs in their share prices. Meanwhile, IndusInd Bank, Hercules Hoists, Fourth Dimension Sol, Hi-Tech Pipes, and Senco Gold reached 52-week lows.

  • Mining Shares Decline: Highlights and Insights from Today’s Market

    Mining Shares Decline: Highlights and Insights from Today’s Market

    In New Delhi, mining company stocks fell on Monday. The biggest winner was Madhav Marbles & Granites Ltd., which went up by 5.68%. Unfortunately, other companies faced losses. KIOCL Ltd. dropped by 5.22%, Ashapura Minechem Ltd. went down by 4.71%, and MOIL Ltd. fell by 3.99%. Other companies also lost value, including Aro Granite Industries Ltd. (down 3.72%) and Gujarat Mineral Development Corporation Ltd. (down 2.73%).

    The stock market indices were not doing well either. The NSE Nifty50 index decreased by 92.21 points, ending at 22,460.3. The BSE Sensex dropped by 217.41 points, closing at 74,115.17.

    On a positive note, some companies in the Nifty pack saw gains. Power Grid Corporation of India Ltd. went up by 3.04%, while Hindustan Unilever Ltd. rose by 1.96%. Infosys Ltd. increased by 0.92%, and SBI Life Insurance Company Ltd. climbed by 0.56%. However, other companies didn’t fare as well. Oil And Natural Gas Corporation Ltd. saw a drop of 4.17%, Trent Ltd. fell by 4.01%, and IndusInd Bank Ltd. declined by 3.87%.