Business News: Economy & Markets

No major impact on BFSI sector despite global uncertainty: Former HDFC Chairman Deepak Parekh

IANS | May 5, 2026 1:48 PM

New Delhi, May 5 (IANS) India’s banking, financial services and insurance (BFSI) sector remains largely stable despite global economic uncertainty, while segments such as hospitality, aviation and logistics are more directly impacted by external shocks, Deepak Parekh, former Chairman of HDFC Ltd (which merged into HDFC Bank Ltd), said on Tuesday.

West Bengal offers big investment opportunity for industry: Blue Star CMD

IANS | May 5, 2026 1:38 PM

Mumbai, May 5 (IANS) West Bengal holds significant untapped potential for industrial investment and the time is ripe for change, Vir S Advani, Chairman of the Confederation of Indian Industry (CII) Western Region and CMD of Blue Star Limited said on Tuesday.

US-Iran war strikes structural blow to Pakistan’s economy

IANS | May 5, 2026 1:19 PM

New Delhi, May 5 (IANS) The conflict between the United States and Iran has triggered a severe energy price shock through Pakistan’s economy which is in dire straits with rising inflation, dwindling foreign exchange reserves and a fast depreciating currency.

Adani Electricity, BMC light up 2.5-km Gorai Beach stretch in Mumbai

IANS | May 5, 2026 12:58 PM

Mumbai, May 5 (IANS) Adani Group-backed Adani Electricity Mumbai Limited (AEML), in coordination with the Brihanmumbai Municipal Corporation (BMC), has illuminated a 2.5-km stretch of Gorai Beach that ended nearly three years of darkness along the popular shoreline.

Biocon founder Kiran Mazumdar-Shaw names niece Claire as successor: Report

IANS | May 5, 2026 11:26 AM

New Delhi, May 5 (IANS) Biocon founder Kiran Mazumdar-Shaw has named her niece Claire Mazumdar as her successor, outlining a formal succession plan for the biopharmaceutical company, a report said on Tuesday.

Elon Musk to pay $1.5 million to settle SEC case on Twitter stake

IANS | May 5, 2026 10:50 AM

New Delhi, May 5 (IANS) Billionaire entrepreneur Elon Musk has agreed to pay $1.5 million to settle a case with the US Securities and Exchange Commission (SEC) over delayed disclosure of his stake in Twitter (now known as X), according to multiple reports.

Crude oil prices fall up to 2 pc even as West Asia conflict intensifies

IANS | May 5, 2026 10:07 AM

Mumbai, May 5 (IANS) Global crude oil prices declined sharply on Tuesday, falling up to 2 per cent despite a fresh escalation in West Asia, as the conflict entered its third month.

Need to expand insurance coverage to wider segment of population: M Nagaraju

IANS | May 5, 2026 9:37 AM

New Delhi, May 5 (IANS) The policies of the companies should be oriented towards increasing overall insurance penetration and density, while ensuring retention of market share, said M. Nagaraju, Secretary, Department of Financial Services (DFS).

Sensex, Nifty slip in early trade on fresh geopolitical jitters

IANS | May 5, 2026 9:33 AM

Mumbai, May 5 (IANS) Domestic equity markets on Tuesday traded sharply lower in the morning trade amid fresh jitters over escalating geopolitical tensions between the US and Iran.

Indian auto retail industry clocks 13 pc growth in best-ever April, opens FY27 on strong note

IANS | May 5, 2026 9:20 AM

New Delhi, May 5 (IANS) The Indian auto retail industry opened FY27 on an exceptionally strong note, retailing a record 26,11,317 units in April — a 12.94 per cent growth, the Federation of Automobile Dealers Associations (FADA) data showed on Tuesday.