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Rupee falls 30 paise to 95.94 against US dollar in early trade

Mumbai, May 15 (PTI) The rupee opened on a weaker note and fell 30 paise to 95.94 on Friday after hitting new lows over three straight sessions, as elevated crude oil prices, a strong dollar, and concerns over the West Asia crisis weighed on investor sentiment. Forex traders said USDINR is under pressure and hovering very close to the 96 mark as dollar buying continues amid upside in oil prices. Moreover, the Summit between US President Trump and Chinese President Xi did not yield any fruitful results, particularly on the US-Iran front, denting investor sentiments further. The USD/INR pair, which

US set to drop criminal fraud case against Gautam Adani, sources say, as deal reached in civil case

May 15 (Reuters) – The U.S. Justice Department is close to dropping criminal ​fraud charges against Gautam Adani, an Indian billionaire who has promised to invest $10 billion in the U.S. economy, according to ‌two sources familiar with the matter. Adani on Thursday also resolved a related civil fraud lawsuit brought by the Securities and Exchange Commission (SEC) over an alleged scheme to bribe Indian government officials, subject to court approval. The possible dismissal of the criminal charges comes after Adani’s lawyer, Robert Giuffra, who is also a personal attorney of ​U.S. President Donald Trump, told Justice Department officials in

Petrol, diesel prices hiked by Rs 3/litre after elections as crude costs bite

New Delhi, May 15 (PTI) Petrol and diesel prices were hiked by Rs 3 per litre each on Friday, the first rate increase in more than four years, amid mounting losses of fuel retailers due to surging global crude prices. The increase comes 16 days after assembly elections concluded in Assam, Kerala, Tamil Nadu and West Bengal. Fuel prices had remained unchanged through the polling period despite a sharp rise in international oil prices triggered by the West Asia conflict. Petrol price was hiked to Rs 97.77 per litre from Rs 94.77 in the national capital. Diesel now costs Rs

New attacks hit ships near Hormuz as Trump discusses Iran with Xi

May 14 (Reuters) – U.S. President Donald Trump discussed the Iran war with China’s President Xi Jinping in Beijing on Thursday, while new attacks on ​vessels near the Strait of Hormuz brought a reminder of the costs of a prolonged stalemate, with peace talks stalled. After Trump and Xi met, a White House official said the leaders ‌had agreed that the strait should be open, and that Iran should never obtain nuclear weapons. China is close to Iran and the main buyer of its oil. In an interview with CNBC in Beijing, U.S. Treasury Secretary Scott Bessent said he believed

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