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Centre plans ₹35,000 cr highway monetisation push

The central government is planning a major highway monetisation programme to raise nearly ₹35,000 crore by using existing road assets to fund future infrastructure projects. Reports said 28 national highway stretches, covering more than 1,800 km, have been identified for the plan in FY27.

The idea is not to sell highways permanently. Instead, completed road projects will be handed over to private companies for operation and maintenance for a fixed period. In return, the government will receive an upfront payment, which can then be invested in building new roads and infrastructure.

Officials believe the approach will help generate funds without putting additional pressure on government finances. Rather than depending entirely on fresh borrowing, the government plans to make better use of existing assets that are already operational.

Reports suggest Haryana has the highest number of highway projects on the proposed list, followed by Uttar Pradesh. The initiative is also expected to attract interest from private investors and infrastructure funds looking for long-term opportunities.

The government has increasingly used models such as Toll-Operate-Transfer (ToT) and infrastructure investment trusts in recent years to raise funds from completed projects. These methods have been used to recycle capital and support further expansion in the infrastructure sector.

Also Read: Rupee weakens further, touches ₹96.25 per dollar

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Meta staff brace for May 20 layoffs

As Meta prepares for another round of layoffs expected on May 20, anxiety and uncertainty are reportedly growing among employees across the company. Reports suggest that nearly 8,000 workers, around 10% of Meta’s workforce, could be affected in the latest phase of restructuring.

The anticipation of job cuts has created an uneasy atmosphere inside the company, with employees describing workplace morale as extremely low. Some current and former workers said many employees have been worried about their future as speculation over layoffs continues to grow.

Reports also described unusual scenes inside offices as nervous employees tried to prepare for possible outcomes. Former staff members recalled a “doomsday-like” mood, with some workers even jokingly stocking up on free office snacks as uncertainty spread across teams.

The latest move comes despite Meta posting strong financial numbers in recent months. The company has been restructuring its operations while increasing investments in artificial intelligence and future technologies. Industry observers believe Meta is continuing to reshape its workforce as part of its long-term strategy focused on efficiency and AI-led growth.

Employees who are impacted are expected to receive severance benefits, including salary support and healthcare coverage for a limited period.

Also Read: Rupee weakens further, touches ₹96.25 per dollar

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Rupee weakens further, touches ₹96.25 per dollar

The Indian rupee touched a fresh record low of ₹96.25 against the US dollar on Monday as pressure from global developments and rising energy prices continued to impact the currency market.

The latest decline comes as crude oil prices remain elevated due to geopolitical tensions and concerns over global supply disruptions. Since India is heavily dependent on imported oil, any increase in international crude prices usually affects the country’s import bill and currency value.

Another reason behind the fall was the strengthening of the US dollar. Investors have moved towards safer investments amid global uncertainty, increasing demand for the American currency. Continued foreign investment outflows also affected sentiment in domestic financial markets.

The impact of a weaker rupee could be felt across several sectors. Higher fuel import costs may increase transportation expenses and influence prices of everyday goods. Electronics, imported machinery and products dependent on overseas raw materials could also become more expensive.

Industries such as aviation and manufacturing may face additional cost pressure if the rupee remains weak for a prolonged period. However, exporters in sectors such as information technology and pharmaceuticals may benefit, as a weaker rupee can increase earnings from overseas markets.

Also Read: Gold slides to ₹1.57 lakh, Silver drops to ₹2.6 lakh

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Gold slides to ₹1.57 lakh, Silver drops to ₹2.6 lakh

Gold and silver prices moved lower on Monday, bringing some relief for buyers after recent sharp fluctuations in precious metal rates. The decline was seen across major cities as domestic prices reacted to changing international trends and shifting investor sentiment.

According to market rates, 24-carat gold was trading around ₹1.57 lakh per 10 grams, while 22-carat gold was priced at nearly ₹1.44 lakh per 10 grams. Silver also witnessed a decline and was trading at around ₹2.6 lakh per kilogram in several markets.

The fall comes after a period of volatility in precious metal prices, with global developments continuing to influence domestic rates. Analysts said changing movements in international markets, along with fluctuations in the US dollar and investor activity, contributed to the decline.

Gold is often considered a safe investment during uncertain times, but prices can move in either direction depending on global economic conditions. Rising interest rate expectations and changes in international commodity markets have recently affected demand and pricing trends.

Despite the decline, jewellers said consumer interest remains strong, especially among people planning purchases for weddings and long-term investments. Many buyers closely track daily price movements before making decisions, particularly during periods of volatility.

Silver also remained under pressure during the session and followed the broader trend seen in precious metals. Market experts said silver prices usually react not only to investment demand but also to industrial consumption trends.

Also Read: Sensex falls over 800 points, Nifty slips below 23,450

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New export duty rules for fuel from May 16

The Centre has revised export taxes on petroleum products, introducing a Special Additional Excise Duty (SAED) of ₹3 per litre on petrol exports and reducing duties on diesel and aviation turbine fuel (ATF). The new rates came into effect from May 16 as part of the government’s regular review of fuel export taxes.

Under the revised structure, diesel export duty has been reduced from ₹23 per litre to ₹16.5 per litre, while the levy on ATF has been cut from ₹33 per litre to ₹16 per litre. Petrol exports, which previously did not attract any export duty, will now be taxed at ₹3 per litre.

The government has clarified that the changes apply only to exports and will not affect fuel sold within the country. This means petrol and diesel prices for domestic consumers are not expected to see any immediate impact due to the latest revision.

Export duties on fuel are reviewed every two weeks and are linked to international crude oil and refined fuel prices. These periodic revisions are intended to help the government respond to fluctuations in the global energy market and maintain a balance between exports and domestic fuel availability.

The latest move comes at a time when global oil markets continue to experience uncertainty. The government had introduced export duties on petroleum products earlier to discourage excessive exports during periods of high international prices and to ensure adequate supplies within India.

Also Read: Indian ice creams enter the TasteAtlas Global list

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India-UK FTA hits delay over steel import curbs

India and the United Kingdom are working to resolve a fresh dispute over steel imports that has delayed the implementation of their long-anticipated Free Trade Agreement (FTA), according to official and media reports.

The deal, which was expected to be operational by May 2026, has hit a hurdle after the UK introduced new steel safeguard measures that tighten import access. The changes include sharply reduced tariff-free quotas and higher duties on steel imports exceeding those limits.

Indian officials say these restrictions were not anticipated during FTA negotiations and are now affecting the final rollout of the agreement. The issue has become a key sticking point in otherwise advanced discussions between the two countries.

Commerce Secretary Rajesh Agrawal said both sides are actively engaged in talks and are trying to find a “unique and creative solution” to address the problem. He added that India and the UK remain close to operationalising the broader trade pact despite the setback.

The UK’s new steel regime, set to take effect from July 2026, will significantly cut tariff-free steel import volumes and impose steep duties on excess shipments. The policy is aimed at protecting domestic steel producers but has raised concerns among trading partners, including India.

Despite the dispute, both governments have stressed that the FTA remains on track overall. Negotiators are now focusing on bridging differences related to steel trade rules so the agreement can be implemented without further delay.

For India, the concern is that reduced access for steel exports could weaken expected gains from the FTA, particularly for its metals and engineering sectors. The agreement was designed to improve market access and boost bilateral trade across goods and services.

Also Read: US set to drop fraud case against Gautam Adani

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India seals oil and defence deals in UAE

India and the United Arab Emirates signed multiple agreements on fuel supply, defence cooperation and investment during Prime Minister Narendra Modi’s visit to Abu Dhabi.

A key agreement was signed on supplies of Liquified Petroleum Gas (LPG) to support India’s growing fuel demand. The two countries also signed an MoU on Strategic Petroleum Reserves to improve India’s emergency crude oil storage capacity and energy security.

India and the UAE further signed an Agreement on Framework for the Strategic Defence Partnership, aimed at strengthening bilateral strategic and security cooperation. The agreement includes collaboration in maritime security, military coordination and defence partnerships.

Another important MoU was signed for setting up a Ship Repair Cluster at Vadinar in Gujarat. Officials said the project would help improve maritime infrastructure and support shipping and logistics activities.

The UAE also announced investments worth around $5 billion in Indian infrastructure projects as well as investments in RBL Bank and Samman Capital. The investments are expected to boost infrastructure development and financial sector growth in India.

Officials said the agreements were signed at a time when global energy markets remain volatile due to tensions in West Asia. Analysts believe the deals could help India secure long-term fuel supplies and strengthen strategic ties with one of its key Gulf partners.

Also Read: JSW Steel plans ₹14,000 crore fundraising

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DLF plans ₹20,000 cr luxury housing push

Real estate company DLF Limited has announced major investments in luxury housing projects as demand for premium homes continues to grow in India’s property market.

The company said it plans to launch housing projects worth nearly ₹20,000 crore during the 2026-27 financial year across key cities including Gurugram, Mumbai and Goa. DLF is also expected to invest an additional ₹21,300 crore to complete ongoing residential projects in Gurugram and other cities.

According to the company, strong demand from high-income buyers and rising interest in luxury living have encouraged expansion in the premium housing segment. DLF said its upcoming projects would focus mainly on luxury apartments, high-end residential communities and premium lifestyle developments.

The company has already witnessed strong sales in its recent luxury housing launches, especially in Gurugram, which remains one of India’s fastest-growing real estate markets. Industry experts said demand for premium homes has increased after the pandemic as buyers look for larger living spaces, better amenities and long-term investment opportunities.

DLF officials said the company remains optimistic about growth in the luxury housing sector despite global economic uncertainties. They added that the company plans to strengthen its presence in major metropolitan markets where demand for premium residential projects continues to remain high.

The company’s investment plan includes land development, project construction and infrastructure expansion for upcoming residential communities. Analysts believe the move reflects growing confidence among developers in India’s high-end real estate market.

Property consultants noted that luxury housing sales have remained strong in cities like Gurugram and Mumbai due to increasing demand from business owners, professionals, non-resident Indians and high-net-worth individuals.

The company’s expansion strategy is also expected to generate employment in construction, real estate services and related sectors. Industry observers said large-scale housing investments by major developers could support overall growth in India’s real estate market in the coming years.

Also Read: Cerebras IPO lists high at $185 per share

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Petrol, diesel up by ₹3, CNG prices by ₹2

Petrol, diesel and CNG prices were increased across India on Friday following a sharp rise in global crude oil prices amid escalating tensions involving Iran. The fuel price revision comes as international energy markets remain volatile due to fears of supply disruptions in West Asia.

Oil marketing companies increased petrol and diesel prices by around ₹3 per litre in major cities, while CNG prices were raised by ₹2 per kilogram. The revised rates came into effect early Friday morning and impacted fuel prices in Delhi, Mumbai, Chennai, Kolkata and several other cities.

In Delhi, petrol prices crossed ₹108 per litre while diesel moved above ₹97 per litre after the latest revision. Similar increases were recorded in other metropolitan cities depending on local taxes and transportation charges.

Officials said the hike was driven by rising global crude oil prices and increased import costs. International markets have witnessed sharp fluctuations in recent days following concerns that tensions involving Iran could affect oil production and shipping routes in the region.

India imports a large portion of its crude oil requirements, making domestic fuel prices highly sensitive to developments in global energy markets. Analysts said any prolonged geopolitical conflict in West Asia could keep crude prices elevated and increase pressure on Indian fuel retailers.

The increase in CNG prices is also expected to impact public transport services, commercial vehicles and auto-rickshaw operations in urban areas. Transport operators warned that higher fuel costs may lead to an increase in freight rates and passenger fares in the coming weeks.

The latest revision has triggered criticism from opposition parties, which accused the Centre of adding to the financial burden on common people already affected by inflation and rising living expenses. Several leaders demanded tax reductions and immediate relief measures to control fuel prices.

Also Read: Gold near ₹1 lakh and silver at ₹97,000

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Gold near ₹1 lakh and silver at ₹97,000

Gold and silver prices edged lower in domestic markets on Friday, May 15, though rates continued to remain close to historic highs. The decline followed weak global cues and profit-booking in international bullion markets, analysts said.

According to retail market data, 24-carat gold was trading close to the ₹1 lakh mark per 10 grams in several Indian cities, while 22-carat gold also saw a marginal drop in rates. Silver prices slipped by nearly ₹1,500 per kilogram and were trading around ₹97,000/kg in major bullion markets.

In Delhi, Mumbai, Chennai and Kolkata, gold prices witnessed slight variations due to local levies and transportation charges. Despite the correction, jewellery rates continued to stay significantly higher compared to previous months, affecting consumer demand in many regions.

Market experts attributed the fall in prices to easing geopolitical tensions, fluctuations in the US dollar and mixed signals from global commodity markets. International gold prices remained volatile during the trading session, while MCX gold and silver futures also recorded losses.

Traders said investors were booking profits after bullion prices touched record highs earlier this month. At the same time, uncertainty surrounding global economic growth and interest rate expectations continued to support safe-haven demand for gold, preventing a sharper decline.

The recent increase in import duty on gold has also added pressure on domestic buyers. Industry observers believe higher import costs may keep retail prices elevated in the coming weeks, especially during the ongoing wedding and festive season.

Jewellers in several cities reported slower customer footfall as rising prices discouraged middle-income buyers from making large purchases. However, investment demand for gold remained steady, particularly among consumers looking at bullion as a long-term hedge against inflation and market volatility.

Also Read: Sensex falls 100 points as Nifty tests 23,700