Author: Staff Writer

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Beyond

Air India launches basic fare without complimentary meals

Air India has introduced a new “Basic” fare category on select domestic routes, allowing passengers to book tickets at lower prices by giving up complimentary meals and some other bundled services.

The move is aimed at offering travellers greater flexibility and more affordable travel options, particularly for short-duration flights where many passengers may not require meal services. The airline said the new fare will be available on select domestic routes and is designed for cost-conscious flyers looking for lower ticket prices.

Under the Basic fare, passengers will continue to receive standard cabin baggage and check-in baggage allowances, but complimentary meals will not be included. Travellers who wish to purchase food and beverages during the flight can do so separately. Other fare categories will continue to offer meal services as part of the ticket price.

The introduction of the new fare reflects a broader trend in the aviation industry, where airlines are increasingly unbundling services and allowing customers to pay only for the amenities they need. Low-cost carriers have long followed this model, and full-service airlines are now adopting similar strategies to cater to a wider range of travellers.

Air India said the new option is intended to give customers more choice rather than reduce services across the board. Passengers who value onboard meals and additional benefits can continue to select higher fare categories, while those focused on affordability can choose the lower-priced Basic fare.

For frequent flyers and business travellers, the change may have limited impact, as many continue to prefer fare categories that include added conveniences. However, budget-conscious passengers and those travelling on short routes could benefit from the lower entry-level fares.

This could help Air India compete more effectively in India’s highly competitive domestic aviation market, where price remains a key factor influencing booking decisions. The airline has been expanding its network and revamping customer offerings as part of its ongoing transformation programme under the Tata Group.

The launch signals Air India’s efforts to balance service quality with pricing flexibility as competition intensifies in the country’s rapidly growing aviation sector.

Also Read: Qatar prepares LNG export restart after Hormuz reopens

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Beyond

Qatar prepares LNG export restart after Hormuz reopens

Qatar is preparing to swiftly restore its liquefied natural gas (LNG) production and exports once shipping traffic through the Strait of Hormuz returns to normal, offering a potential boost to global energy markets that have been rattled by regional tensions.

The Gulf nation, one of the world’s largest LNG exporters, has reportedly drawn up contingency plans to ramp up output and shipments immediately after the strategic waterway reopens fully. The Strait of Hormuz is a crucial maritime route through which a significant share of the world’s oil and gas exports passes, making any disruption a major concern for global energy supplies.

Recent instability in the region has heightened fears of supply shortages and pushed energy prices higher. European countries, which have increasingly relied on LNG imports following efforts to reduce dependence on Russian energy, have been closely monitoring developments in the Gulf.

Industry experts say Qatar’s ability to rapidly resume exports could help stabilise markets and ease concerns over fuel availability, particularly in Europe ahead of the winter stockpiling season. The country has invested heavily in expanding its LNG infrastructure and is considered one of the most reliable suppliers in the global gas market.

A quick restart of exports would also be welcomed by Asian buyers, including major importers such as China, Japan and South Korea, which depend on LNG shipments to meet energy demand. Any prolonged disruption in supplies could have forced buyers to seek alternative cargoes at higher prices.

Analysts believe the reopening of the Strait of Hormuz could trigger a correction in energy prices if supply concerns ease. However, they caution that market volatility may persist until there is greater certainty over regional security and uninterrupted shipping operations.

For Qatar, restoring LNG flows quickly is critical not only for maintaining its position in global energy markets but also for reassuring customers that supplies remain dependable despite geopolitical tensions.

As governments and energy traders continue to watch developments closely, Qatar’s readiness to rapidly restart exports is being viewed as a positive signal for global energy security and market stability.

Also Read: SpaceX acquires Anysphere for $60 bn after Nasdaq debut

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Beyond

Gold slips below ₹1.52 lakh , silver falls to ₹2,64,900

Gold prices eased on Wednesday as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision. According to market data, 24-carat gold was trading near ₹1.52 lakh per 10 grams across major cities, while 22-carat gold hovered around ₹1.40 lakh per 10 grams. Silver prices also remained under pressure, falling by about ₹100 per kg to trade at ₹2,64,900 per kg, marking a second consecutive day of losses.

In major cities such as Delhi, Mumbai, Chennai and Kolkata, gold prices remained largely stable within the ₹1.51 lakh-₹1.53 lakh range. Jewellers said retail demand has moderated after prices surged to record levels earlier this month, prompting many buyers to postpone purchases in anticipation of a correction.

The decline comes after a strong rally in precious metals over recent months, driven by geopolitical uncertainties, expectations of lower interest rates and steady purchases by central banks. However, investors have turned cautious ahead of the Fed’s policy statement, which is expected to provide direction to global commodity markets.

Silver, which has witnessed sharp swings in recent weeks, also faced selling pressure. Despite the latest decline, experts believe the metal’s long-term outlook remains positive due to robust industrial demand from sectors such as renewable energy, electronics and electric vehicles.

On Tuesday, gold was priced at ₹1,51,360 per 10 grams, while silver stood at ₹2,64,900 per kg. The recovery was driven by cautious buying ahead of the US Federal Reserve’s policy announcement. However, traders largely remained on the sidelines, awaiting fresh cues on the interest-rate outlook.

Market analysts noted that gold continues to enjoy strong support from safe-haven demand amid global economic uncertainties. However, near-term price movements are likely to depend on the Fed’s commentary regarding future interest-rate cuts.

With global markets awaiting the Fed’s decision, traders expect both gold and silver to remain range-bound in the near term. Any major signal on interest rates could trigger fresh movement in bullion prices over the coming sessions.

Also Read: Sensex gains over 350 points, Nifty tops 24,050

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Corporate

Sensex gains over 350 points, Nifty tops 24,050

Markets opened higher on Wednesday, with the BSE Sensex gaining more than 350 points to trade above 77,150 and the Nifty50 moving past the 24,050 mark in early deals, supported by strong buying in information technology and financial stocks.

The market opened on a firm note and maintained its upward momentum through the session as investors reacted positively to softer crude oil prices and improving sentiment across global markets. Lower oil prices are seen as beneficial for India’s economy as they help ease inflationary pressures and reduce import costs.

Buying was broad-based, with most sectoral indices trading in the green. IT stocks emerged as the biggest contributors to the rally, while financial and banking shares also attracted strong investor interest.

Among the top gainers on the Sensex and Nifty were HCL Tech, Infosys, Tech Mahindra and Bajaj Finserv, which witnessed healthy buying amid optimism over global technology demand and improved risk appetite. Banking heavyweights also lent support to the benchmarks.

On the other hand, some defensive stocks faced profit-booking. Nestle India, Hindustan Unilever and Asian Paints figured among the notable losers, limiting gains in the broader market.

Market participants are also keeping a close watch on the outcome of the US Federal Reserve’s policy meeting for cues on the future interest-rate trajectory. While rates are widely expected to remain unchanged, investors will closely monitor the central bank’s commentary on inflation and economic growth.

The broader market sentiment remained positive, with mid-cap and small-cap shares also advancing.

Also Read: Japan inflation keeps BOJ on alert

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Beyond

REITs, InvITs may attract ₹11.6 lakh crore by 2030

India’s market for REITs and InvITs is poised for significant growth over the next few years, with investments expected to reach ₹11.6 lakh crore by 2030, according to a report by Avendus Capital. The projection highlights the growing importance of these investment vehicles in India’s evolving financial and infrastructure landscape.

The report estimates that the combined market value of REITs and InvITs could expand significantly over the next few years, supported by a strong pipeline of commercial real estate assets and infrastructure projects. Increasing investor awareness, favourable regulations and the search for stable, long-term returns are expected to fuel demand.

REITs have emerged as a popular option for investors seeking exposure to income-generating commercial properties such as office parks, shopping centres and warehouses. Similarly, InvITs provide access to infrastructure assets including roads, power transmission networks, renewable energy projects and telecom towers.

According to the report, institutional investors, pension funds, insurance companies and retail investors are likely to play a larger role in the sector’s growth. Global investors are also showing increasing interest in India’s infrastructure and real estate sectors due to the country’s strong economic growth prospects and expanding urbanisation.

Also Read: Nirmala Sitharaman highlights push for higher foreign inflows

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1 Minute-Read

Nirmala Sitharaman highlights push for higher foreign inflows

Union Finance Minister Nirmala Sitharaman has said the government is taking additional measures to attract higher foreign capital inflows into India, emphasizing its commitment to maintaining the country as a preferred investment destination.

Speaking at an industry event, Sitharaman said India continues to offer strong growth opportunities backed by policy stability, infrastructure development and economic reforms. She noted that the government is working to create a more investor-friendly environment and strengthen ease of doing business.

The minister highlighted India’s economic resilience amid global uncertainties and said sustained reforms would help draw long-term foreign investments. Her remarks come as the government seeks to accelerate growth, create jobs and support industrial expansion through increased global investor participation.

Categories
Technology

Sarvam AI enters unicorn club with $234 mn raise

India’s artificial intelligence ecosystem received a major boost as Bengaluru-based AI startup Sarvam AI entered the unicorn club after raising $234 million in a funding round led by HCLTech. The funding has valued the company at $1.5 billion, making it one of India’s newest technology unicorns.

The investment marks a significant milestone not only for Sarvam AI but also for India’s growing ambitions in the field of generative artificial intelligence. HCLTech emerged as the lead strategic investor in the funding round, acquiring a 10.5% stake in the company through an investment of about ₹1,427 crore.

Founded in Bengaluru, Sarvam AI has positioned itself as a developer of sovereign AI technologies tailored to Indian languages and use cases. The company has been working on foundational AI models and infrastructure aimed at reducing dependence on foreign technologies while supporting India’s digital ecosystem.

The $234 million raised represents the first close of Sarvam’s ongoing Series B funding round, which is targeting a total raise of $300 million. Besides HCLTech, investors in the round include Bessemer Venture Partners, while existing backers such as Khosla Ventures and Peak XV Partners have also continued their support.

The fresh capital is expected to be used for expanding AI infrastructure, developing advanced models and scaling enterprise deployments. Industry observers say the funding could accelerate efforts to build a stronger domestic AI ecosystem and help Indian companies compete globally in a rapidly evolving sector.

For Sarvam’s founders and employees, the unicorn milestone represents the culmination of a journey that began less than three years ago. For India’s AI industry, it signals a growing belief that world-class artificial intelligence products can be built and scaled from within the country.

For India’s startup ecosystem, the development is being viewed as a sign of growing investor confidence in homegrown AI innovation. As governments and businesses increasingly seek local AI capabilities, companies like Sarvam are attracting attention for building technology designed specifically for Indian requirements.

Also Read: India’s exports hit six-month high in May

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Corporate

Sensex rises above 500 points, Nifty tops 23,950

Indian benchmark indices rose for the third consecutive session on Tuesday. The Sensex closed at 544 points , while the Nifty 50 ended near the 24,000 mark. Easing tensions between the US and Iran and softer crude oil prices supported investor sentiment.

The market’s gains were broad-based, with buying seen across banking, financial and heavyweight sectors. Lower oil prices provided additional support to sentiment, as India is one of the world’s largest crude importers. Analysts said easing energy costs could help contain inflation and support economic growth.

Among the major gainers, HDFC Bank, Reliance Industries and ICICI Bank contributed significantly to the rise in benchmark indices. Banking stocks remained in focus as investors returned to the sector following recent volatility. Foreign investors also turned net buyers after an extended period of selling, lending further support to the market.

On the losing side, metal stocks faced pressure amid weakness in global commodity prices. Hindalco Industries and National Aluminium Company (Nalco) were among the notable laggards. Shares of General Insurance Corporation of India (GIC Re) also declined sharply following a government stake sale at a discounted price.

Broader markets also ended in positive territory, with mid-cap and small-cap indices posting moderate gains. Market breadth remained favourable, reflecting continued buying interest across sectors.

With the Sensex gaining nearly 4% and the Nifty rising around 3.6% over the last three sessions, market participants will be watching closely to see whether the rally can be sustained in the coming days.

Also Read: India’s exports hit six-month high in May

Categories
Beyond

India’s exports hit six-month high in May

India’s trade deficit widened in May even as exports recorded their strongest performance in six months, reflecting the growing impact of higher imports on the country’s external trade balance.

Merchandise exports increased 18% from a year earlier to about $43.4 billion, supported by healthy demand for engineering products, electronics, chemicals and pharmaceuticals. The rise marked the highest monthly export figure in six months and signalled improved momentum in overseas shipments.

Despite the strong export performance, imports rose even more sharply to nearly $70 billion. Increased purchases of crude oil, gold, electronic goods and industrial raw materials pushed import bills higher and expanded the trade deficit to approximately $26.4 billion.

For policymakers, the figures present a mixed picture. On one hand, stronger exports point to resilience among Indian manufacturers and exporters. On the other, the widening trade gap highlights India’s dependence on imported commodities and consumer goods.

The export sector has benefited from improved global demand and efforts to diversify markets. Exporters have also expanded shipments in sectors where India enjoys a competitive advantage, helping offset uncertainties in parts of the global economy.

Economists noted that a higher trade deficit does not necessarily signal weakness if it is accompanied by strong economic growth. However, sustained increases in imports could influence the country’s current account position and currency dynamics.

Also Read: India raises export taxes on diesel, jet fuel

Categories
Leaders

New Fed chief Kevin Warsh signals policy shift

All eyes are on the US Federal Reserve as its new Chair, Kevin Warsh, prepares to chart the central bank’s course at a time of persistent inflation concerns and uncertainty over future interest rate moves.

Warsh’s first policy meeting and press conference as Fed chief are being closely watched by investors, economists and policymakers looking for clues on how he plans to steer the world’s most influential central bank. Markets are particularly interested in whether he will signal a shift in interest-rate policy after years of aggressive efforts to curb inflation.

The former Federal Reserve governor has indicated support for a broad review of the institution’s policy framework and operations. Analysts say his leadership could bring changes in how the Fed communicates its decisions, manages inflation risks and balances economic growth with price stability.

Inflation in the United States has eased from its post-pandemic highs but remains a key concern for policymakers. While some economists believe the Fed may have room to lower interest rates in the coming months, others caution that inflationary pressures could persist, requiring a more cautious approach.

Warsh has argued that restoring confidence in the Fed’s inflation-fighting credibility should remain a priority. He has also spoken about the need for greater accountability and transparency within the central bank, positions that have attracted attention from both supporters and critics.

For ordinary Americans, the Fed’s decisions have a direct impact on everyday life. Interest-rate changes influence borrowing costs for mortgages, car loans and credit cards, while also affecting savings returns, business investment and employment prospects.

Investors are expected to scrutinise Warsh’s remarks for indications on the timing of future rate cuts and his broader economic outlook. Financial markets have remained sensitive to any signals that could influence expectations for growth, inflation and monetary policy.

Also Read: TCS faces $70 mn change in DXC case