Economy news

• India in talks with Russia-linked Siberian deposit to source rare earth Samples: Report

  16-06-2026 19:41 via timesofindia.indiatimes.com
  
  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 clean energy.
  
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• Rupee snaps two-day rally, settles 2 paise lower at 94.60 against US dollar

  16-06-2026 18:52 via timesofindia.indiatimes.com
  
  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.
  
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• US stocks today: Dow hits record high as easing oil prices boost Wall Street

  16-06-2026 17:43 via timesofindia.indiatimes.com
  
  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.
  
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• Air India launches 'basic fare' option without complimentary meals on select domestic flights

  16-06-2026 17:13 via timesofindia.indiatimes.com
  
  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.
  
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• SpaceX soars past Amazon in market value after IPO frenzy; options trading begins

  16-06-2026 17:12 via timesofindia.indiatimes.com
  
  SpaceX shares soared over 14% Tuesday, briefly surpassing Amazon and nearing Microsoft's valuation, reaching $2.85 trillion. Investor excitement surged with new options trading, despite analysts warning of extreme volatility and questioning the lofty valuation. The company also plans a $60 billion acquisition.
  
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• Trump says US can ‘soon’ reimpose Russian crude sanctions after Hormuz reopening

  16-06-2026 16:02 via timesofindia.indiatimes.com
  
  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.
  
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• India builds record grain reserves as El Nino returns

  16-06-2026 14:11 via timesofindia.indiatimes.com
  
  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.
  
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• Zepto IPO: Can 10-minute delivery survive public-market scrutiny?

  16-06-2026 12:45 via timesofindia.indiatimes.com
  
  Zepto is preparing for its Initial Public Offering, revealing its rapid expansion and operational strengths in India's quick-commerce market. The company has achieved significant order volumes and user growth. Investors are closely examining its potential for sustainable profits amidst fierce competition and high operational costs. The IPO will test whether Zepto can translate its scale into long-term financial success.
  
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• US-Iran peace deal: What opening of Strait of Hormuz would mean for India’s crude oil supplies

  16-06-2026 08:23 via timesofindia.indiatimes.com
  
  Prior to the outbreak of the conflict, the Gulf region supplied roughly 40% of India's crude oil imports. After the war began on February 28, inflows from the region declined sharply.
  
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• Oil's not well? US emergency stockpile falls to lowest level

  16-06-2026 08:04 via timesofindia.indiatimes.com
  
  The US emergency oil stockpile has hit its lowest point since 1983, with the Trump administration drawing down reserves to mitigate economic impacts from global conflicts. Recent releases have pushed the Strategic Petroleum Reserve to less than half full, raising concerns about operational capacity and vulnerability to disruptions like hurricanes.
  
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• Gold price prediction today: Will gold prices rise substantially from current levels? Check June 16, 2026 outlook

  16-06-2026 07:55 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold prices may rise in the near-term as oil prices ease but the US Federal Reserve’s meeting is an important thing to watch, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
  
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• Middle East crisis may be over, but how long before Strait of Hormuz goes back to normal?

  16-06-2026 06:19 via timesofindia.indiatimes.com
  
  A tentative US-Iran deal signals an end to a 100-day conflict impacting global oil. While prices dipped, analysts warn full recovery of Strait of Hormuz flows will take weeks, possibly months, due to shipping bottlenecks and ongoing mine clearance. Producers await lasting peace assurances before fully resuming output, with full normalization expected gradually.
  
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• Income Tax Return: Is Form 16 mandatory for ITR filing & what to do if the employer has not issued it?

  16-06-2026 06:17 via timesofindia.indiatimes.com
  
  Ideally, you should also cross check information across all your major documents such as Form 16, Form 26AS, Annual Information Statement (AIS), interest statements etc. to see if there are any discrepancies.
  
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• Top stocks to buy today: Stock market recommendations for June 16, 2026 - check list

  16-06-2026 04:44 via timesofindia.indiatimes.com
  
  Stock market recommendations: Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan recommends buying Oberoi Realty, HDFC Life Insurance, Blue Star, and Phoenix Mills as the technical top stocks for today, June 16, 2026:
  
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• Oil prices still above pre-war levels despite US-Iran truce hopes

  16-06-2026 03:57 via timesofindia.indiatimes.com
  
  Global oil prices have seen a significant drop following signs of de-escalation in Middle East tensions, spurred by a US-Iran memorandum of understanding. While this offers relief to consumers, questions linger about the speed of supply recovery. The Strait of Hormuz, a vital oil route, is expected to reopen, potentially easing inflationary pressures.
  
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• RIL, IndiGo & more: Top stocks to watch on June 16

  16-06-2026 03:33 via timesofindia.indiatimes.com
  
  Analysts are bullish on Reliance Industries, citing strong energy policies and refining markets. LG Electronics India receives a 'buy' rating due to its dominant market share and growth potential. GMR Airports is favored for its premium travel consumption and expansion opportunities. Interglobe Aviation (Indigo) is recommended for its pragmatic approach and international growth.
  
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• Mercedes to opt for fresh 1-2% price hike

  16-06-2026 02:55 via timesofindia.indiatimes.com
  
  Mercedes-Benz is implementing a 1-2% price increase in India due to exchange rate volatility and war-related costs. Despite this, the company is launching a new S-Class plug-in hybrid variant to encourage EV adoption, aiming for overall growth this year with positive order intake.
  
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• Razorpay confidentially files for IPO

  16-06-2026 02:45 via timesofindia.indiatimes.com
  
  ​​The Y Combinator and Peak XV Partners-backed company is seeking to raise up to Rs 6,000 crore through the IPO, sources said, adding that the final issue size and timing of launch will depend on market conditions. Razorpay declined to comment. The company was last valued at $7.5 billion. Razorpay, which rivals players such as Cashfree Payments and PayU in India, shifted its domicile from the US to the country in May last year.
  
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• Wholesale inflation rises for 8th month in row, PPI debuts

  16-06-2026 02:40 via timesofindia.indiatimes.com
  
  In WPI, prices of crude petroleum and natural gas accelerated 61% in May, as compared to 56% in April. Similarly, the prices of mineral oils accelerated 50% during the month, reflecting the impact of the supply chain disruptions caused due to the prolonged conflict in west Asia. “If prices do come down sharply as has been seen today, there can be moderation in WPI inflation for sure on this account,” said Bank of Baroda chief economist Madan Sabnavis.
  
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• Heavy selling by foreign funds results in BOP deficit

  16-06-2026 02:32 via timesofindia.indiatimes.com
  
  Net transfers (comprising largely of worker remittances) led the improvement, rising by $6.6 billion to $16 billion from $9.4 billion, reflecting higher remittance inflows in the wake of the West Asia conflict and rupee depreciation. The services surplus also increased by $2.7 billion to $18.6 billion, supported by a rise in exports from $32.8 billion to $37 billion. The primary income deficit narrowed by $1.1 billion to $1.9 billion.
  
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• Goods exports at record $45billion in May, imports at 7-month high

  16-06-2026 02:31 via timesofindia.indiatimes.com
  
  Engineering goods (24.5% rise to $12.3 billion) and oil products (55% jump to $8.4 billion) were the top drivers of exports, with non-oil exports rising 12% to $36.8 billion. What also helped was some sort of normalcy in shipments to West Asia, with exports in May pegged at $5.3 billion, compared with $5.4 billion a year ago as both sides opened new trade routes.
  
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• Sarvam joins unicorn club, raises $234 million

  16-06-2026 02:10 via timesofindia.indiatimes.com
  
  The funding comes amid growing investor interest in India’s AI ecosystem. Earlier this year, AI cloud platform Neysa raised $1.2 billion in a Blackstone-led funding round to expand large-scale AI infrastructure. Sarvam co-founder Pratyush Kumar said the fresh capital will expand compute infrastructure, help hire AI talent and build new products, including an AI-assisted coding platform aimed at competing with global software engineering assistants such as Claude and Codex.
  
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• RBI issues stricter norms to curb mis-selling by lenders

  16-06-2026 02:10 via timesofindia.indiatimes.com
  
  The directions impose a strict consent-capture and interface-design protocol, closing gaps left in the Feb 11 draft. According to the framework, banks must capture explicit consent via verifiable modes such as signed physical/electronic declarations, OTP approvals, recorded confirmations or clearly demarcated agreement clauses. RBI said interfaces must default to ‘No’ or ‘I do not agree’, forcing conscious opt-in.
  
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• West Asia peace deal lifts sensex, Rupee gains 40p/$

  16-06-2026 02:04 via timesofindia.indiatimes.com
  
  After the deal was announced early on Monday, markets were in an upbeat mood with sensex opening almost 1,200 points higher. It gained some more points in early trades and then as profit taking set in, it closed slightly off the intra-day high, but was still up 1%. The day’s gains made investors richer by almost 8.5 lakh crore with BSE’s market capitalisation now at Rs 470.5 lakh crore.
  
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