Economy news

• Railway minister Vaishnaw launches new train services: Check routes, extensions and details

  06-07-2026 19:37 via timesofindia.indiatimes.com
  
  Railway Minister Ashwini Vaishnaw launched new train services and route extensions. These improvements enhance rail connectivity across Maharashtra, Uttar Pradesh, and Uttarakhand. New services connect Nanded to Mumbai and Tanakpur to Nanded. Existing routes were extended, and special services were regularized for passengers. Railways also announced special trains for Onam and Rath Yatra festivals.
  
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• Wall Street opens higher as AI stocks rebound; Nasdaq gains 0.8%

  06-07-2026 17:57 via timesofindia.indiatimes.com
  
  Wall Street opened higher as artificial intelligence stocks rebounded strongly.Markets also assessed a planned mega share sale by SK Hynix.Oil prices edged lower after OPEC+ agreed to increase production.US Treasury yields eased, while European and Asian markets traded lower.Hong Kong's Hang Seng Index bucked the trend with a gain.
  
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• 'For the first time from Oval': Donald Trump rings NYSE and Nasdaq opening bell to launch Trump Accounts

  06-07-2026 16:43 via timesofindia.indiatimes.com
  
  President Trump launched a new investment program for children, "Trump Accounts," from the Oval Office, coinciding with the Republican's 2025 tax law. This initiative aims to boost equity market participation, with Treasury Secretary Scott Bessent highlighting that many American families lack stock exposure. Trump expressed optimism about the market's future, despite ongoing concerns about inflation impacting his economic approval ratings.
  
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• 145% rise in LPG imports: Gas buys to be doubled from US - how much can it help India cut reliance on Gulf supply?

  06-07-2026 16:40 via timesofindia.indiatimes.com
  
  Energy imports from the US have gained importance, particularly following the West Asia conflict, helping reduce the trade imbalance between the two countries. Besides the US, India has also sourced LPG from Argentina, Nigeria and Malaysia. Data from Kpler shows that India’s LPG imports from America have grown substantially since the US-Iran war began. After a marginal dip in April, the supplies have steadily climbed.
  
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• Saudi Arabia slashes August crude prices for Asia by $11 a barrel in biggest cut in over 20 years

  06-07-2026 15:44 via timesofindia.indiatimes.com
  
  Saudi Arabia has slashed its crude oil prices for Asian customers by a significant $11 per barrel for August, the largest reduction in over two decades. This move reflects weakening demand in Asia and easing geopolitical tensions, which have stabilized global oil markets. With supply conditions improving and Middle Eastern shipping routes normalizing, Saudi Aramco is adjusting its strategy to maintain market share amidst increased competition.
  
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• Crude oil relief: OMCs may break even on petrol, diesel rates soon; what it means for retail prices

  06-07-2026 15:29 via timesofindia.indiatimes.com
  
  Public sector refiners have collectively absorbed losses of over Rs 75,000 crore during the first quarter of the current financial year. Since they continue to process higher-cost crude purchased earlier, profitability is expected to remain under pressure during the ongoing quarter.
  
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• Taiwan's Unimicron targets $1.4 billion in global share sale at discounted price amid AI-driven chip demand

  06-07-2026 14:47 via timesofindia.indiatimes.com
  
  Taiwan's Unimicron Technology is aiming to raise approximately $1.4 billion through a global share offering, joining a trend of Asian semiconductor firms seeking international capital. The printed circuit board and chip substrate maker is offering 50 million global depositary shares, with proceeds earmarked for foreign currency raw material purchases. This move underscores the booming demand in the AI-driven semiconductor sector, with Unimicron's shares already seeing a significant surge this ye
  
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• 'Fresh Paneer' to '100% organic': FSSAI issues notices to multiple brands over misleading food claims

  06-07-2026 13:54 via timesofindia.indiatimes.com
  
  India's food regulator, FSSAI, has issued notices to several brands, including 'Heritage Fresh Paneer', for misleading claims on their packaging. The authority is cracking down on labels that could deceive consumers, such as 'fresh' paneer or 'vegan' spreads. This move aims to ensure food products adhere to strict labelling regulations and prevent any implication of unverified approval.
  
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• Growth, not gloom: Morgan Stanley keeps bullish stance on Indian equities

  06-07-2026 12:50 via timesofindia.indiatimes.com
  
  India's market dip is likely temporary, with Morgan Stanley predicting a rebound driven by accelerating economic growth.Concerns about long-term prospects, including demographics and AI's impact on services, are seen as overstated.Strong structural advantages and potential positive earnings surprises position Indian equities for recovery as the global AI spending boom potentially moderates.
  
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• Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies

  06-07-2026 12:05 via timesofindia.indiatimes.com
  
  Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have secured millions of crude barrels from Angola, Nigeria, and Brazil to bolster national reserves.This strategic procurement follows a significant drawdown in stockpiles due to Strait of Hormuz disruptions.Inventories have since rebounded, nearing a year-high, signaling a stabilization of India's energy security amidst global market fluctuations and OPEC+ output adjustments.
  
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• Saudi low-cost carrier flyadeal begins India operations with daily Hyderabad-Riyadh flights

  06-07-2026 11:45 via timesofindia.indiatimes.com
  
  Saudi Arabia's budget airline, flyadeal, has officially landed in India, commencing its maiden service between Hyderabad and Riyadh. This new daily flight, operated by an Airbus A320, significantly enhances Hyderabad Airport's global reach, particularly to the Middle East.The move is anticipated to stimulate travel for business, expatriate, and tourist segments between the two nations, marking a key expansion for the airline into a rapidly growing aviation sector.
  
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• ITR filing FY 2025-26: Top 10 mistakes taxpayers should avoid for income tax returns online filing - check list

  06-07-2026 10:36 via timesofindia.indiatimes.com
  
  ITR filing FY 2025-26: Before filing, compare your income and TDS details with documents such as Annual Information Statement (AIS), Form 26AS, and Form 16/16A. Any mismatches in data can not only lead to income tax notices, but also delayed refunds. Here are 10 mistakes that salaried taxpayers should avoid when filing their income tax returns:
  
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• Nuclear power push: India eyes uranium supply pact with Australia during PM Modi’s visit

  06-07-2026 09:55 via timesofindia.indiatimes.com
  
  Australia, which has nearly one-third of the world's known uranium reserves, signed a framework agreement with India over a decade ago.The two countries are also likely to finalise or advance agreements in several strategic areas, including critical minerals, cybersecurity, emerging technologies, clean energy.
  
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• Gold price prediction today: Will gold prices see limited upside? Key levels to watch out for July 6, 2026 week

  06-07-2026 08:45 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold prices are likely to see a limited upside because of high inflation in the US, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.
  
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• Apple not so 'fruitful' for Himachal? Climate pressures hill state's Rs 5,000 crore economy

  06-07-2026 08:36 via timesofindia.indiatimes.com
  
  Himachal Pradesh's Rs 5,000 crore apple economy faces a severe climate crisis, with production projected to plummet by nearly 40% this year. Unseasonal rains, hailstorms, and erratic weather have significantly impacted output, affecting an estimated 2.5 lakh farming families. Growers are grappling with rising costs and a desperate need for improved irrigation and crop insurance.
  
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• Rupee slips 10 paise as stronger dollar and geopolitical jitters outweigh positive cues

  06-07-2026 06:54 via timesofindia.indiatimes.com
  
  The Indian rupee weakened against the US dollar, opening the week down 10 paise at 95.28 due to a stronger dollar globally and geopolitical uncertainties. Despite favorable global cues like falling oil prices, the rupee failed to gain, indicating underlying market fragility. Meanwhile, Indian stock markets opened on a strong note, with major indices climbing over 0.4%.
  
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• Bank holiday today: Where are banks shut on July 6? Check state-wise list

  06-07-2026 04:58 via timesofindia.indiatimes.com
  
  Plan your bank visits carefully as several branches will be closed on specific dates this July due to regional holidays. West Bengal and Mizoram observe closures today, July 6. Further state-specific holidays are scheduled across Meghalaya, Odisha, Uttarakhand, Manipur, Sikkim, and Tripura. Remember, Sundays and the second and fourth Saturdays also mean branch closures. Digital banking services remain unaffected.
  
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• China's Z.ai a challenger to OpenAI and Anthropic

  06-07-2026 02:11 via timesofindia.indiatimes.com
  
  A Chinese AI startup, Z.ai, is making waves with its new model, GLM-5.2, offering advanced coding and AI agent features at a lower cost than US rivals like OpenAI and Anthropic. This development is attracting developers and sparking discussions about China's growing AI competitiveness, especially as US restrictions push users towards alternative solutions. For Indian users, it provides affordable access to powerful AI tools.
  
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• USTR probe action creates uncertainty for India, others

  06-07-2026 01:47 via timesofindia.indiatimes.com
  
  India faces renewed trade uncertainty as the US Trade Representative moves forward with a probe into forced labor, potentially replacing existing tariffs. Hearings are underway, with a proposed 12.5% tariff impacting over 50 nations, including India. This development could shift trade deal negotiations, with the US possibly using structural overcapacity issues as leverage for bilateral agreements. Exporters might find relief if the broader forced labor tariff replaces the current one.
  
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• CaratLane may go to West Asia Damas way

  06-07-2026 01:37 via timesofindia.indiatimes.com
  
  Titan's online jewellery arm, CaratLane, is eyeing a West Asian debut through its recent acquisition, Damas Jewellery.While recent regional conflicts have temporarily halted expansion plans, CaratLane sees Damas' extensive store network as a strategic entry point.This move could see CaratLane counters integrated within Damas' over 140 outlets across six GCC nations, offering a new avenue for growth once plans are solidified.
  
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• For urban buyers, Saturdays, Sundays witness 2/3rd of weekly spend

  06-07-2026 01:31 via timesofindia.indiatimes.com
  
  Urban Indians significantly boost their spending on Saturdays and Sundays, with a 1.6 times higher expenditure compared to weekdays.Fashion, entertainment, electronics, and dining see a marked increase as people enjoy leisure time. This trend is particularly strong in major metros and among higher-income groups, indicating a shift towards aspirational consumption.
  
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• Dalal Street to track oil, earnings, global trends

  06-07-2026 01:18 via timesofindia.indiatimes.com
  
  Indian stock markets are poised for a week driven by crude oil prices, global cues, and the commencement of the corporate earnings season, with TCS set to announce its June-quarter results. Investors will also be watching the monsoon's progress and foreign investor activity.Key economic data from the US, including Federal Reserve minutes, will provide further direction.
  
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• 'Rise in early exits from life policies points to misselling'

  06-07-2026 01:14 via timesofindia.indiatimes.com
  
  Life insurance policyholders are increasingly cashing out early, with surrenders now surpassing maturity payouts, according to the RBI's Financial Stability Report. This trend, particularly driven by private insurers, signals potential policyholder dissatisfaction and mis-selling concerns.Soaring distribution costs are further exacerbating the risk of agents pushing unsuitable products to meet acquisition targets.Regulators are now exploring reforms to ensure better product suitability and benef
  
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• FMCG Q1 demand stable; companies flag El Nino risk

  06-07-2026 01:06 via timesofindia.indiatimes.com
  
  Household goods demand held steady in Q1 despite price hikes, as companies navigated inflation. However, concerns linger over El Nino's potential impact on monsoon rains and rural consumption. While price increases helped offset rising costs, the sector faces a potential challenge from weather volatility affecting agricultural output and demand. Firms are closely monitoring these developments.
  
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