India Opposes Attacks on Merchant Ships Amid Iran Conflict, Tells UNSC
According to the Indian government, any attacks against commercial shipping vessels are totally unacceptable during times of heightened tensions between India and Iran. The country urged the international community to maintain calm, employ diplomacy and ensure civilian protection in order to preserve maritime security. Read more…
Oil Prices Spike Amid Fresh Supply Fears After Strait of Hormuz Closure
Crude oil prices worldwide witnessed an increase following the decision of Iran to shut down the Strait of Hormuz, which is the most significant transit point for global energy supplies. The decision may lead to the disruption of the energy supply and increased costs of transportation in countries like India. Read more…
Indian-Origin Man Arrested in US Over $100 Million Bank Fraud Scheme
Indian businessman Mahender Makhijani was taken into custody by US authorities on charges of bank fraud worth $100 million. According to prosecutors, Makhijani had obtained several loans through forged documentation and fraudulent financial transactions. Moreover, other allegations against him are under investigation. Read more…
Opendoor Lays Off Entire Indian Workforce, Cites US-Centric Customer Base
U.S.-based real estate technology firm Opendoor has fired close to 250 employees after shutting down its business in India. The reason cited for such an action is that the company’s restructuring plan aims at catering to their customer base in the U.S. Read more…
Gold Rates Slip on June 11, Check Latest Prices in Top Indian Cities
On June 11, gold rates saw a fall in the key Indian centers because of the fall in global gold prices and uncertainty about future interest rate decisions. However, the analysts feel that this correction may be helpful for jewellers. Read more…
