Wednesday, March 11
China has pledged to address India's concerns regarding rare earths, fertilizers, and tunnel boring machines, as assured by Foreign Minister Wang Yi to Dr. Jaishankar. Discussions encompassed trade, pilgrimages, and border issues, emphasizing mutual respect and avoiding escalation of differences into disputes.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, continued their upward trajectory on Tuesday, registering gains for the fourth straight session, primarily led by strong performances from Reliance Industries and Tata Motors.
HDFC Bank has announced temporary disruptions to several customer care services, including WhatsApp chat and SMS banking, between August 22nd and 23rd, 2025. These interruptions are due to planned system upgrades aimed at enhancing the overall banking experience. While some services will be unavailable, NetBanking, MobileBanking, and PhoneBanking Agent services will remain accessible to customers.
Global tech spending in 2025 is unlikely to hit $6 trillion due to tariff uncertainties, impacting India's outsourcing sector. Analysts have lowered IT growth projections, with potential budget growth capped at 7%. While AI and cloud demand remain strong, a proposed 50% tariff on India could significantly affect its IT outsourcing.
US State Secretary Marco Rubio has warned of potential energy price hikes if the US imposes secondary sanctions on China for processing Russian oil. This comes amid concerns over the US's approach, with tariffs on India for similar purchases. Rubio highlighted that China refines Russian oil and sells it globally, impacting prices.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, soared in trade on Monday on the back of next-generation GST reforms announced by PM Modi during his Independence Day speech, and S&P Global's credit rating upgrade.
Qantas Airways faced a penalty of $59 million for unfairly firing over 1,800 ground staff during the Covid-19 pandemic. This is in addition to the $78 million compensation already agreed upon. The court found the airline guilty of serious labor law breaches. Qantas CEO Vanessa Hudson apologized for the hardship caused.
Software services companies are adopting a cautious hiring approach for the second half of FY25, projecting a 3-5% growth focused on skilled freshers and junior roles. While overall IT recruitment faces global pressures, demand for AI, cloud, and cybersecurity skills remains strong. Companies prioritize cost optimization and invest in entry-level talent with new-age skills.
IndianOil's Panipat refinery has achieved international certification to produce sustainable aviation fuel (SAF) from used cooking oil, according to Chairman Arvinder Singh Sahney. The refinery aims to produce 35,000 tonnes of SAF annually, meeting India's 1% SAF blending requirement by 2027.
Prime Minister Narendra Modi is set to inaugurate the Delhi section of the Dwarka Expressway and the Urban Extension Road-II, projects worth nearly Rs 11,000 crore. These initiatives aim to decongest Delhi, improve connectivity, and significantly reduce travel time between key locations like the Singhu border and IGI Airport, while also lowering pollution.
