Business

Yum Brands is divesting its struggling Pizza Hut chain in a $2.7 billion deal. Private equity firm LongRange Capital will acquire Pizza Hut’s global operations, excluding China, for approximately $1.5 billion. India’s Pizza Hut business will also fall under LongRange Capital’s management. The China operations are being sold to Yum China Holdings for about $1.2

India is seeking rare earth samples from Russia. This move aims to diversify critical mineral supplies away from China. State miner IREL is in talks with Rosneft for samples from Siberia’s Tomtor deposit. India will study the mineral composition before further engagement. This effort supports India’s growing demand for rare earths in electric vehicles and

The rupee dipped slightly to 94.60 against the dollar on Tuesday, ending a two-day gain. Despite falling crude oil prices and hopes for a US-Iran peace deal, foreign investors selling Indian equities pressured the currency. Analysts anticipate a near-term downward trend for the rupee, with support from easing oil prices.

Indian markets mirrored global optimism as US stocks neared record highs, fueled by falling oil prices and hopes for a US-Iran peace deal. SpaceX’s impressive market debut and gains in financial and chip stocks also boosted investor confidence. All eyes are now on the Federal Reserve’s upcoming policy decision and guidance from its new chair.

Air India has introduced an optional ‘Basic fare’ on select domestic routes, excluding complimentary meals to cater to price-sensitive travelers. This new option offers a more unbundled travel choice, while existing fare categories with meals and bundled benefits remain available. The airline will evaluate customer feedback during this pilot phase to decide on its continuation.

Indian equities surged for a third day, with Sensex and Nifty climbing on positive global cues, foreign investment, and easing crude oil prices following a reported US-Iran peace deal. IT stocks led the gains, with HCL Tech announcing a significant investment. Broader markets also participated in the rally, reflecting widespread optimism.

US President Donald Trump indicated that sanctions on Russian oil could be reimposed soon, following the resumption of crude flows through the Strait of Hormuz after an Iran deal. Speaking at the G7 summit, Trump stated that with oil now moving freely, Washington can shift focus to ending the Ukraine war.

India’s grain reserves have reached unprecedented levels, with rice stocks soaring 15% year-on-year to a record high and wheat inventories hitting a five-year peak. This robust buffer strengthens national food security and offers flexibility for exports, even amidst El Niño concerns. Strong farmer procurement and favorable crop conditions have bolstered these impressive reserves.