US inflation surged past 4% in May, primarily due to escalating energy costs linked to Middle East tensions. Despite rising living expenses, consumer spending showed resilience, buoyed by tax refunds and stock market gains. While economists anticipate persistent inflationary pressures, the Federal Reserve is considering interest rate hikes later this year to combat the trend.
Middle Eastern fuel oil exports are poised for a significant rebound in June, reaching a four-month peak. This surge is attributed to Iraq and Saudi Arabia rerouting supplies via alternative ports, coupled with a gradual resumption of shipments through the Strait of Hormuz following a US-Iran interim peace agreement.
Stock market investors, mark your calendars! The market will be closed on Friday, June 26, for Muharram. Trading operates on weekdays, excluding weekends and official holidays. Remember the pre-open session from 9:00 am to 9:08 am, followed by the regular trading window from 9:15 am to 3:30 pm. Plan your trades wisely around these timings
EPFO 3.0 aims to deliver quicker automated claim settlements, instant withdrawals, multilingual self-service facilities and seamless payroll-integrated contributions.
A massive crypto heist, initially linked to North Korea, has unraveled a complex financial web connecting to Iran’s central bank. Investigators discovered stolen funds moving through wallets associated with Iran’s central bank before reaching CoinEx, a key exchange facilitating Iranian crypto users. This revelation underscores the growing role of digital assets in Iran and the
From a storage perspective, India should enhance its SPR capacities from 17 to 45 days on land with the possibility of having another 10-15 days of SPR on sea on tankers. Incidentally, the International Energy Agency recommends a SPR of 90 days.
The Strait of Hormuz is reopening, paving the way for Middle Eastern fuel oil exports to reach a four-month high in June. Iraq and Saudi Arabia are leading this surge, with Iraq notably diversifying routes through Syria. While shipments are increasing, they remain below pre-war levels, and cautious optimism prevails due to ongoing negotiation uncertainties.
ITR filing FY 2025-26: The two regimes differ fundamentally in structure. The new tax regime offers lower slab rates but largely eliminates exemptions and deductions. The old tax regime, in contrast, allows taxpayers to claim a range of benefits.
Aviation Turbine Fuel (ATF) prices, which had surged, are now under scrutiny as crude oil costs decline. The Civil Aviation Minister indicated the government may ask airlines to reassess surge charges and additional fare components if fuel prices remain stable. Discussions are ongoing with airlines to ascertain the longevity of this price reduction, with a
