The Central Government has increased petrol and diesel prices by ₹3 per litre, starting from 6 am on Friday, May 15.
In Delhi, the price for diesel is now ₹90.67 per litre, up from ₹87.67 per litre. Petrol has risen to ₹97.77 per litre from its previous rate of ₹94.77 per litre. CNG prices have also risen by ₹2 per kg, now costing ₹79.09 per kg.
This rise in fuel prices follows a global energy crisis triggered by the conflict in Iran that began on February 28, which has effectively obstructed the critical oil shipping route — The Strait of Hormuz.
Also Read: Fuel Price Increase: HPCL, BPCL, IOC shares dip up to 3%; here’s their impact
Adani Group under scrutiny amid reports of prosecutors pondering dropping charges; Stocks relinquish gains
Shares of Adani Group companies, including Adani Enterprises Ltd., Adani Ports Ltd., Adani Green Energy Ltd., Adani Energy Solutions Ltd., and Adani Power Ltd., saw an upswing on Friday, May 15, after several reports indicated that US authorities are moving to dismiss the fraud charges against Gautam Adani and close the criminal case. However, these stocks soon retraced their gains, trading at a loss.
India introduces new tax legislation, deploys AI tool to assist taxpayers
This year, India has reformed its income tax law. The Income Tax Act, 2025, replaced a 65-year-old framework on April 1, with the government conducting awareness programs nationwide to clarify the recent legislative changes after decades of evolution.
The Prarambh 2026 outreach campaign is the Income Tax Department’s initiative to aid taxpayers and stakeholders in navigating the new law. Mumbai, a significant hub for India’s direct tax collections, has been a vital stop. Recently, the Office of the Principal Chief Commissioner of Income Tax hosted a significant outreach event attended by over 700 participants, including chartered accountants, corporate executives, tax professionals, and industry representatives.
Five stocks experiencing significant declines following their Q4 results on Friday
From Sai Life Sciences to Data Patterns and PN Gadgil Jewellers, these five stocks are seeing the most substantial negative reactions to their March quarter outcomes released after market hours on Thursday.
Trump highlights ‘fantastic’ trade agreements with China, asserts Xi opposes nuclear Iran
US President Donald Trump stated that he reached promising business agreements during his discussions with Chinese President Xi Jinping and reiterated that Xi does not wish for Iran to acquire nuclear weapons.
“We’ve made some fantastic trade deals, truly beneficial for both countries,” he mentioned, adding, “It’s been an incredible visit. I believe much good has come from it.”
The two leaders are convening at Zhongnanhai, a compound that accommodates both the offices and residences of the Communist Party’s elite, on Friday, May 15.
Taiwan emerges as the biggest point of contention in Trump-Xi meeting despite friendly appearances: WSJ’s Cheng
During their meeting in Beijing, US President Donald Trump and Chinese President Xi Jinping exchanged pleasantries and commitments for ongoing cooperation, yet Taiwan remained the most significant point of tension between the two superpowers, according to Jonathan Cheng, China Bureau Chief at The Wall Street Journal.
In an interview with CNBC-TV18 after the summit, Cheng noted that Beijing’s stance on Taiwan was particularly firm, underscoring its significance to China’s leadership.
“China clearly prioritizes this issue far more than the US does,” Cheng asserted. “This is the paramount issue, and it will not be tolerated.”
EU keeps avenues open for Indian seafood exports ahead of India-EU trade agreement
In a move that may bolster export potential for India once its Free Trade Agreement (FTA) with the European Union (EU) is activated, the 27-nation bloc’s updated draft list has permitted the ongoing import of aquaculture products from India.
The India-EU FTA is anticipated to take effect by early 2027. India’s Commerce Ministry explained that the amended regulation aims to secure seamless export of Indian aquaculture products to the EU market beyond September 2026, with tariffs poised to significantly decrease on Indian exports to the bloc once the FTA is operational.
West Asia conflict inflates packaging costs, adversely affecting Indian exports
The persistent conflict in West Asia is sharply escalating packaging costs for Indian exporters, adding to the mounting pressure on businesses already facing weak global demand and previous tariff-related disruptions.
Industry insiders claim that the Iran conflict and the subsequent rise in crude oil prices have driven polymer prices up by nearly 40%, directly impacting the cost of packaging materials across various sectors, from handicrafts to agricultural goods.
Plastic is a fundamental component in most packaging materials, and exporters report that both prices and availability have become critical issues in recent weeks.
Air India’s $2.8 billion loss drags down Singapore Airlines’ profit by 57%
Singapore Airlines experienced a 57.4% drop in net profit, amounting to $877 million for FY26, largely due to one specific factor: its 25.1% stake in Air India.
Despite achieving record revenue and a 39% increase in operating profit to $1.76 billion, SIA’s overall performance was severely impacted by Air India’s rising transformation costs. Air India recorded a tax loss of nearly $2.8 billion for the financial year concluded in March 2026, a sharp decline from a loss of just $214 million in the prior year.
PM Modi’s austerity call: From Delhi to Maharashtra, states minimize convoys, promote WFH and public transport
In response to Prime Minister Narendra Modi’s appeal for fuel conservation and reduced import dependence, several states, including Delhi and Uttar Pradesh, have introduced measures aimed at decreasing fuel consumption, conserving electricity, and cutting government expenditures. These measures range from smaller official convoys to work-from-home policies and virtual meetings, as states begin to implement various strategies following the Centre’s directive.
Here’s a snapshot of what different states have announced thus far:
The five silent wealth thieves
Over two decades of interaction with investors has led to a disconcerting realization: the greatest risk in investing is rarely the market itself; it’s human behavior, and everyone is susceptible to it.
From Rafael Nadal’s comeback at the Australian Open to investor fear during market fluctuations, this article by Navin Gogia delves into how greed, herd mentality, and emotional decision-making quietly undermine long-term wealth generation.
