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Inflows, culling of shorts lift rupee to longest winning streak in over one year

MUMBAI, March 20 (Reuters) – The Indian rupee rose for the seventh straight session on Thursday, its longest winning streak since January 2024, as persistent dollar sales by foreign banks and paring of short bets on the currency helped it weather a stronger dollar. The rupee rose to a near two-month high of 86.2075 per U.S. dollar earlier in the day before closing at 86.3675, up 0.1% on the day. Banks selling dollars to lock in profits on arbitrage trades between the non-deliverable and outright forwards also aided the rupee. A broadly weaker dollar has prompted a paring of short

Gold futures hit lifetime high of Rs 89,796/10g

New Delhi, Mar 20 (PTI) Gold prices maintained a rising momentum for the third consecutive session to reach another all-time high of Rs 89,796 per 10 grams on Thursday, following a firm trend in global markets. On the Multi Commodity Exchange (MCX), the precious metal contracts for April delivery hit a record high of Rs 89,796 per 10 grams in the morning trade. Later, the yellow metal pared its gains and was trading Rs 268 or 0.3 per cent higher from the previous close at Rs 88,870 per 10 grams, with a business turnover of 13,084 lots. Investors continued their

Eli Lilly launches drug Mounjaro in India for obesity, type 2 diabetes treatment

New Delhi [India], March 20 (ANI): Global pharmaceutical company Eli Lilly and Company (India) has introduced Mounjaro (tirzepatide) in India, a breakthrough drug for the treatment of Type 2 diabetes and obesity. Approved by the Central Drugs Standard Control Organization (CDSCO), Mounjaro is available in single-dose vials, with pricing set at Rs3,500 for a 2.5 mg vial and Rs4,375 for a 5 mg vial, leading to a monthly cost of Rs14,000-Rs17,500, depending on dosage. Mounjaro, the company claimed is the first drug to target both GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptors, offering a new approach to metabolic

Elon Musk’s X sues union government over alleged censorship and IT Act violations

Bengaluru, Mar 20 (PTI) Social media giant ‘X’ (formerly Twitter), owned by US billionaire Elon Musk, has filed a lawsuit in the Karnataka High Court against Government of India, challenging what it called unlawful content regulation and arbitrary censorship. It raised concerns over the Centre’s interpretation of the Information Technology (IT) Act, particularly its use of Section 79(3)(b), which ‘X’ argues violates Supreme Court rulings and undermines free expression online. The lawsuit alleged the government is using the said section to create a parallel content-blocking mechanism, bypassing the structured legal process outlined in Section 69A. ‘X’ claimed this approach contradicts

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