Business -

Govt imposes Rs 3/litre windfall tax on petrol exports, cuts diesel and ATF export levies

TazaPulseMay 16, 2026

The government on Friday imposed a windfall gains tax of Rs 3 per litre on petrol exports while reducing export levies on diesel and aviation turbine fuel (ATF), as crude oil prices remained elevated amid the ongoing West Asia conflict, PTI reported.The revised rates will come into effect from May 16.According to finance ministry notifications,...

Rapido valued at $3 billion with fresh $240 million funding

TazaPulseMay 15, 2026

MUMBAI: Rapido, which rivals Uber and Ola in India’s ride-hailing market, has raised a fresh $240 million in funding led by Dutch technology investor Prosus at a valuation of $3 billion, higher than its last valuation of $2.3 billion it attained when Swiggy sold its stake in the startup in a secondary transaction in September...

PM Modi’s UAE visit: How India will benefit from agreements on strategic petroleum reserves, LPG

TazaPulseMay 15, 2026

What do the new agreements between UAE and India entail? How will India’s energy security plans get a boost? (AI image) India’s energy security received a major boost on Friday when two important Memorandum of Understanding (MOUs) were signed during PM Narendra Modi’s visit to the UAE on Friday. India imports close to 90% of...

Russian foreign minister Lavrov backs strong energy partnership

TazaPulseMay 15, 2026

Russian Foreign Minister Sergey Lavrov on Friday said crude oil supplies from Russia to India have increased despite Western sanctions and mounting geopolitical pressure, ANI reported.Speaking on the sidelines of the BRICS Foreign Ministers’ Meeting in New Delhi, Lavrov said the rise in Russian oil exports to India was reflected in publicly available data.“We published...

Wall Street falls as AI stocks tumble, oil-driven inflation fears rattle markets

TazaPulseMay 15, 2026

Wall Street retreated sharply on Friday as a sell-off in artificial intelligence-linked technology stocks and rising concerns over inflation triggered by elevated oil prices pushed major US indices lower from record highs, AP reported.The S&P 500 fell 1.1 per cent after hitting an all-time high a day earlier, while the Dow Jones Industrial Average dropped...

Why were fuel rates raised now & are more hikes likely in coming days?

TazaPulseMay 15, 2026

After the hike today, petrol is now retailing at Rs 97.7 per litre in Delhi. (AI image) A hike in petrol and diesel prices has been in the offing for some weeks now, and hence today’s Rs 3 per litre raise comes as no surprise. This is especially true since there is no early resolution...

India’s forex reserves rise by $6.3 billion to $696.99 billion as gold holdings surge

TazaPulseMay 15, 2026

India’s foreign exchange reserves jumped by $6.295 billion to $696.988 billion during the week ended May 8, helped largely by a sharp rise in gold reserves, PTI reported citing Reserve Bank data released on Friday.The overall forex kitty had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s reserves had touched an...

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Family investors turn to old-economy businesses to avoid AI disruption

TazaPulseMay 15, 2026

Fish farm nets on the East coast. Shaunl | E+ | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Equity Group Investments, backed by the family of...

US team likely to visit India next month, interim pact negotiations continue

TazaPulseMay 15, 2026

A US delegation is expected to visit India next month for trade negotiations under the proposed bilateral trade agreement (BTA), Commerce Secretary Rajesh Agrawal said on Friday, PTI reported.“We expect the US team to visit soon..not this month..may be next month,” Agrawal told reporters.However, he said the dates for the visit have not been finalised...

India’s trade deficit widens to $28.38 billion in April as imports jump 10%; Middle East shipments fall 31.6%

TazaPulseMay 15, 2026

India’s merchandise trade deficit widened sharply to $28.38 billion in April as imports rose 10 per cent year-on-year despite a steep decline in inbound shipments from Middle East amid continuing geopolitical disruptions.Government data released on Friday showed India’s imports increased to $71.94 billion in April from $65.38 billion in the year-ago period, while exports stood...