Economy news

• Consumers already bearing UPI costs through broader economy: RBI governor

  05-08-2026 18:15 via timesofindia.indiatimes.com
  
  RBI governor Sanjay Malhotra emphasized that the costs of UPI transactions are already subtly included in operations. He expressed it is premature to introduce explicit fees for merchants. The priority lies in enhancing the payment infrastructure and increasing utilization. Any fee implementation should consider potential effects on user engagement and ongoing investment, as consumers do indirectly incur costs, albeit often unnoticed.
  
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• Rupee hits 1-month closing high despite RBI repo rate pause; sliding crude oil prices help

  05-08-2026 17:39 via timesofindia.indiatimes.com
  
  The currency opened 0.5% stronger at 94.92 against the US dollar, its highest level since July 1. It later gave up nearly half of its early advance to settle at 95.1175 per dollar, its strongest closing level since July 7.
  
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• US stock market today: Wall Street scales new record highs; oil prices hold steady

  05-08-2026 16:21 via timesofindia.indiatimes.com
  
  Both the S&P 500 and the Dow closed at record highs on Tuesday, while the Nasdaq remained within 2% of its all-time peak. The major US indices have posted strong gains so far this week, giving August a solid start, according to an AP report.
  
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• Who is Tewolde Gebremariam? Meet Air India’s new CEO - all you want to know about him

  05-08-2026 15:30 via timesofindia.indiatimes.com
  
  Tewolde Gebremariam takes over from Campbell Wilson, the New Zealander and former Singapore Airlines executive who was appointed in 2022 to lead Air India's transformation. Air India had earlier disclosed that Wilson had informed Chairman N Chandrasekaran in 2024 of his intention to step down during 2026.
  
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• As gold, stock markets lose lustre - why your humble fixed deposit is forever

  05-08-2026 13:02 via timesofindia.indiatimes.com
  
  Experts say that instead of timing the interest rate cycle, fixed deposits should be opted for based on goals and cash flow. But, if you are looking at fresh investments in FDs, higher interest rates may be a good lure. Is it the right time to invest in FDs? We ask experts:
  
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• Nearly half of India's workforce wants a new job. Here's why

  05-08-2026 12:46 via timesofindia.indiatimes.com
  
  Google leads India's most attractive employer brands, with Tata Group and Amazon following closely.Nearly half of India's workforce plans job changes within the next six months.Work-life balance and career progression are key factors influencing employee preferences.Employers must adapt to evolving talent expectations beyond conventional benefits.Organisations offering growth and flexibility will attract and retain top talent effectively.
  
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• India's services PMI hits over 4.5-year low as demand, new orders lose momentum

  05-08-2026 12:00 via timesofindia.indiatimes.com
  
  India's services sector growth slowed significantly in July, reaching its weakest pace in over four years. New business inflows expanded at the slowest rate since early 2022, driven by softer demand. Overseas demand remained relatively resilient, with export business outperforming overall sales growth. Employment growth improved modestly, while business confidence weakened to a seven-month low. Input cost inflation eased, and companies raised selling prices at the fastest pace since April.
  
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• India to get its first plastic notes next year: RBI governor shares timeline, explains benefits

  05-08-2026 09:36 via timesofindia.indiatimes.com
  
  The government has authorised the Reserve Bank of India to print up to 2 billion polymer (plastic) notes - 1 billion each in the Rs 10 and Rs 20 denominations for field trials. At present, there is no proposal to replace paper currency entirely.
  
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• ‘Someone has to pay the cost’: RBI governor on MDR proposal for UPI transactions above Rs 2,000

  05-08-2026 09:09 via timesofindia.indiatimes.com
  
  According to official estimates, the Rs 2,000 threshold would cover only around 5% of all UPI transactions, although these account for nearly 65% of the total value processed on the platform. As a result, routine purchases such as milk, vegetables, groceries, or payments for auto-rickshaws and taxis are unlikely to be affected. UPI processed 23.7 billion transactions worth Rs 29.9 lakh crore in July.
  
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• Gold price prediction today: Is the worst over for gold? Check August 5, 2026 outlook

  05-08-2026 08:18 via timesofindia.indiatimes.com
  
  Gold price prediction today: Recent gold price trends suggest that the worst of the downside may be behind us, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers. Early this week, bullion has started on a firmer footing, supported by a weaker US dollar, easing crude oil prices following renewed US-Iran diplomatic efforts and improving risk sentiment.
  
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• US-Iran conflict, El Nino: Why RBI did not hike repo rate despite headwinds

  05-08-2026 08:11 via timesofindia.indiatimes.com
  
  Indeed, RBI governor Sanjay Malhotra has acknowledged that the conflict in West Asia continues to weigh on the global economy by disrupting critical trade routes and supply chains, increasing market volatility and weakening business confidence. But the biggest factor for keeping repo rate unchanged was that while inflation has risen, the impact of cost pressures has not been widespread.
  
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• SpaceX's first earnings: Revenue soars to $7.8 billion in debut results

  05-08-2026 05:54 via timesofindia.indiatimes.com
  
  SpaceX has reported a reduced loss alongside increased revenue, mainly driven by its burgeoning Starlink business. With ambitions to dominate global internet services, Starlink's subscriber count has now doubled. The company is heavily investing in artificial intelligence and infrastructure, aiming for an impressive $100 billion in annual revenue by year-end, while also planning to launch new satellites and enhance mobile connectivity.
  
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• Oil price today: Crude steadies below $80 as Hormuz blockade keeps investors on edge

  05-08-2026 04:08 via timesofindia.indiatimes.com
  
  Oil prices nudged higher on Wednesday after a series of declines, as investors keep a keen eye on the diplomatic maneuvers surrounding the US-Iran standoff. Progress is reportedly being made by negotiators striving to bring an end to the conflict and restore access to the Strait of Hormuz. While US crude and gasoline inventories increased last week, there was a drop in distillate stocks.
  
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• Higher tariffs boost Airtel profit by 37%

  05-08-2026 03:24 via timesofindia.indiatimes.com
  
  In an impressive first quarter, Bharti Airtel recorded a remarkable profit surge of 37.3%, driven by increased mobile tariffs and a robust influx of new customers. The company's revenue also soared by 18.4%, showcasing strong growth across its India and Africa segments. Notably, Airtel's average revenue per user jumped to Rs 264, indicating a favorable response to market developments.
  
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• United Spirits contests FSSAI's flavouring order, petitions HC

  05-08-2026 02:15 via timesofindia.indiatimes.com
  
  United Spirits finds itself at the center of a legal battle, opposing a food regulator’s decree about its McDowell's No. 1 Rum labeling. The FSSAI asserts that flavors typical of rum and whisky are not permissible in spirits. Inspections have uncovered that various manufacturers employed neutral alcohols augmented with flavoring agents, resulting in these products being deemed subpar according to food safety laws.
  
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• MDR to help fintechs recover costs, boost their IPO hopes

  05-08-2026 02:14 via timesofindia.indiatimes.com
  
  In an effort to enhance sustainability within India’s payment ecosystem, industry stakeholders are advocating for increased subsidies or the introduction of a controlled merchant discount rate (MDR). This strategic initiative is designed to stimulate competition and improve business viability. The potential implementation of MDR for high-value transactions is anticipated to yield substantial revenue for payment platforms, while fintech companies are eager for compensation to cover operatio
  
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• Govt ups LIC offer size, OFS India's biggest

  05-08-2026 02:10 via timesofindia.indiatimes.com
  
  The government has announced an extra four percent sale in LIC’s offering, responding to considerable interest revealed by a 3.3 times subscription on day one. This strong demand from institutional buyers led to the exercise of the green shoe option, anticipating a total raise of roughly Rs 31,400 crore from this share sale. Retail investors can participate by bidding on the last day.
  
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• 21-yr gold quest: Expand mining, make India export hub

  05-08-2026 02:07 via timesofindia.indiatimes.com
  
  In a groundbreaking announcement, the World Gold Council has introduced an extensive twenty-one-year roadmap for India's gold industry. This plan focuses on ramping up local mining efforts while establishing India as a premier jewelry hub. It also envisions increased integration of gold in high-tech sectors and financial systems, encouraging households to leverage their gold assets, ultimately supporting India's ambition to become self-reliant and economically robust.
  
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