Category: Business

Visakhapatnam, May 4 (BNP): An LPG tanker carrying cargo destined for India has safely navigated the Strait of Hormuz and is currently en route to Visakhapatnam, according to official sources. The movement of the vessel comes at a time of heightened geopolitical tensions in West Asia, which have raised global concerns over key energy shipping routes.

Authorities confirmed that despite the challenging regional environment, maritime operations remain stable and uninterrupted. There has been no disruption reported to Indian-flagged vessels or energy shipments bound for the country.

The consignment is expected to support domestic LPG availability and reinforce the country’s energy supply chain, which is being closely monitored to ensure steady distribution across regions.

Officials further stated that shipping activities in the region are under continuous surveillance to safeguard critical imports and maintain smooth logistical operations. The government has assured that all necessary measures are in place to ensure energy security and uninterrupted supply of essential commodities.

May 4 (BNP): External Affairs Minister S. Jaishankar has praised India’s advancing space technology ecosystem, highlighting the success of GalaxEye and its “Mission Drishti,” which is being seen as a significant step forward in all-weather Earth imaging capabilities.

The mission marks a notable achievement in strengthening India’s private space sector, demonstrating the country’s growing ability to develop advanced imaging systems that can operate effectively in diverse weather conditions.

Jaishankar said such innovations reflect India’s expanding technological strength and underline the contribution of startups in enhancing the nation’s global space footprint. He noted that developments like Mission Drishti position India as an emerging leader in next-generation space-based solutions.

The breakthrough is expected to support applications across sectors such as disaster management, agriculture, defence, and climate monitoring, further reinforcing India’s push towards self-reliance in space technology.

Overall, the development is being viewed as a milestone in India’s journey towards building a stronger, innovation-driven space ecosystem supported by private sector participation

New Delhi, May 4 (BNP): The government has intensified enforcement measures to prevent hoarding and ensure smooth supply of cooking gas across the country, conducting more than 1,900 raids nationwide, even as LPG availability continues to remain stable amid ongoing geopolitical tensions in West Asia.

According to the Ministry of Petroleum and Natural Gas, around 47 lakh domestic LPG cylinders were delivered on May 2 against bookings of approximately 47.4 lakh cylinders, indicating that supply levels are largely keeping pace with demand.

As part of its crackdown on irregularities, the government said penalties have been imposed on 349 LPG distributorships, while 74 distributorships have been suspended for violations related to stock management and distribution practices.

The ministry also confirmed that essential household energy supply remains uninterrupted. It stated that 100 percent supply is being maintained for domestic LPG, domestic PNG, and CNG used in transport.

However, it acknowledged that geopolitical developments have had some impact on overall supply chains, particularly in commercial segments. To address this, the allocation of commercial LPG has been restored to about 70 percent of pre-crisis levels.

In addition, public sector oil marketing companies sold around 11,082 metric tonnes of auto LPG since April, while targeted distribution efforts continue to ensure availability of smaller cylinders, especially for vulnerable and migrant populations.

The Ministry of Ports, Shipping and Waterways also assured that maritime operations remain stable. It confirmed that an LPG shipment carrying over 46,000 metric tonnes successfully passed through the Strait of Hormuz without incident.

Officials further stated that all Indian seafarers in the region are safe, with no incidents reported involving Indian-flagged vessels in the past 24 hours. Port operations across the country continue to function normally.

Overall, authorities emphasised that while global geopolitical tensions persist, domestic LPG supply chains remain well-managed and stable through coordinated monitoring and enforcement efforts.

May 4 (BNP): A global crude oil supply shortfall of around 4.8 million barrels per day (mbpd) could potentially lead to demand destruction while improving margins for oil marketing companies (OMCs), according to a recent report.

The report suggests that tightening supply conditions in the global oil market may push prices higher, which in turn could moderate consumption levels as demand adjusts to elevated costs. Such a scenario often leads to reduced discretionary usage across key consuming regions.

At the same time, the supply-demand imbalance is expected to benefit refining and marketing companies. Higher crude price spreads and improved product pricing dynamics could support stronger margins for OMCs in the near term.

Analysts note that the extent of impact will depend on how global producers respond to the supply gap and whether demand adjusts more sharply in major consuming economies. Market conditions are likely to remain sensitive to geopolitical developments and production decisions by key oil-exporting nations.

Overall, the report highlights a mixed outlook, where near-term demand pressure coexists with potential margin gains for downstream oil companies.

New Delhi, May 4 (BNP): Online food delivery in India has witnessed strong growth in recent years but continues to account for a relatively small share of the overall food services industry, according to a recent report by Investec.

The report highlights that the segment currently represents about 11 percent of the total food services market, rising significantly from around 3 percent in 2018. This sharp increase reflects growing consumer preference for convenience, wider digital adoption, and expanding urban demand.

While the sector has emerged as one of the fastest-growing segments in the food services space, a large portion of the market still operates through offline channels, indicating considerable scope for further expansion.

Industry observers believe that continued growth in organised food services, along with increasing smartphone penetration and changing lifestyles, will further support the expansion of online food delivery platforms in the coming years.

Overall, the findings suggest that although the sector has made rapid progress, it still has substantial room for growth in the Indian market.

New Delhi, May 4 (BNP): The government has reported robust revenue collections across major tax categories, with several streams exceeding their respective Modified Revised Estimates (MRE) for the financial year ending March.

Stamp duty collections reached ₹9,119.72 crore, slightly surpassing expectations at 101 percent of the MRE. This indicates steady activity in property transactions and related sectors, contributing positively to the state’s revenue position.

Excise duty collections also showed notable strength, totaling ₹6,206 crore during the same period. This figure represents 103 percent of the MRE, reflecting improved compliance and consistent demand in excise-generating sectors.

Meanwhile, revenue from vehicle taxes stood at ₹3,245 crore, exceeding the targeted ₹3,200 crore and achieving 101 percent of the MRE. The increase suggests stable growth in vehicle registrations and related economic activity.

Overall, the performance across these categories underscores effective revenue mobilisation and a resilient economic environment, helping the government maintain fiscal stability while supporting ongoing development initiatives.

Mumbai, May 4 (BNP): The Indian rupee opened on a weaker note on Monday, depreciating by 11 paise to 94.95 against the U.S. dollar in early trade, as ongoing geopolitical tensions in West Asia continued to weigh on investor sentiment.

Market participants remained cautious amid uncertainty in global markets, with risk appetite subdued due to the evolving situation in the region. Forex traders noted that sustained volatility in crude oil prices has added to the pressure on the domestic currency.

Brent crude, the global oil benchmark, was trading near the $108 per barrel mark, keeping concerns alive for oil-importing nations like India. Elevated crude prices tend to widen the country’s trade deficit and increase demand for the U.S. dollar, thereby exerting downward pressure on the rupee.

Analysts also pointed out that the strengthening of the U.S. dollar against major global currencies further contributed to the rupee’s weakness. In addition, cautious positioning by foreign investors and fluctuations in global equity markets influenced currency movements during the early session.

Despite the initial decline, traders expect the rupee’s movement to remain range-bound through the day, with investors closely tracking crude oil trends, geopolitical developments, and global market cues for further direction.

Mumbai, May 4(BNP): Indian benchmark equity indices opened the week on a strong note, rallying sharply in early trade on Monday amid easing crude oil prices and improved global market sentiment.

The BSE Sensex surged 657.80 points to reach 77,571.30, while the NSE Nifty 50 advanced 213.35 points to 24,215.10 during the opening session.

The upbeat momentum in domestic equities mirrored gains across Asian markets, which were trading higher following positive cues from global peers. Lower oil prices further boosted investor confidence, easing concerns around inflation and fiscal pressures for oil-importing economies like India.

Among the top performers on the Sensex was Maruti Suzuki India Ltd, which rallied around 4 percent. The surge came after the automaker reported record total sales of 2,39,646 units in April, marking a robust 33.29 percent year-on-year growth. The strong performance was driven primarily by rising demand for its small car segment, signaling a healthy start to the new financial year.

Market analysts attributed the rally to a combination of favorable macroeconomic indicators, stable foreign fund inflows, and optimism surrounding corporate earnings. The decline in crude oil prices has been particularly supportive, as it helps contain input costs and inflationary pressures.

Investors will continue to track global economic developments, corporate earnings announcements, and commodity price trends for further direction in the markets.

Apr 04: Amid the ongoing cricket season, Oakley and Meta today announced a collaboration with cricket icon Virat Kohli as the face of Oakley Meta Performance AI glasses in India. The partnership highlights how AI-powered wearables bring  Athletic Intelligence to the game, supporting how athletes train, create and share moments. 

As part of the collaboration, audiences will get a first-person view into Virat Kohli’s world — from training sessions and match preparation to behind-the-scenes moments with Oakley Meta Performances AI glasses which have hands-free AI to help you capture the perfect cricket shot, access personalized insights as you train and record content seamlessly in the flow of action. Combined with hands-free capture and instant sharing, the glasses unlock a more intuitive and responsive way to document high-performance moments, both on and off the field. The collaboration showcases our vision of Athletic Intelligence and how technology can seamlessly integrate into an athlete’s routine to help them take their training and performance to the next level. 

Sandhya Devanathan, Vice President India and South East Asia, Meta  said, “Performance has always been a balance of instinct and awareness, and increasingly that is being shaped by data. With Oakley Meta performance AI glasses, we are exploring what Athletic Intelligence can look like in practice, where timely insights and lightweight assistance come together in a way that supports how athletes train and stay focused. Our collaboration with Virat Kohli reflects how technology can fit naturally into an athlete’s routine, helping them stay present while continuing to learn from every session and every personal record they work towards.” 

“Sport is constantly evolving, and so is the way athletes understand and elevate their performance. At Oakley, we’ve always been focused on pushing the boundaries of what’s possible, and with Meta, we’re bringing a new dimension to that vision. Virat Kohli embodies the mindset we build for: focused, driven and always pushing limits. And that’s exactly where this product belongs” says Corey Hill, Head of Global Sports Marketing at Oakley. 

Adding his perspective, Virat Kohli said, “I have always relied on instinct, but also on understanding my game better over time. What I find useful about Oakley Meta performance AI glasses is that they add small layers of insight without getting in the way. Whether it is staying focused during training or enhancing on-field awareness, it helps build consistency over time. Over time, that can make a difference when you are working towards your next personal record.” 

Oakley Meta performance AI glasses combine performance with intelligence, enabling hands-free photo and video capture, live streaming and voice-enabled AI assistance. With Meta AI, users can access contextual information in real time, making interactions more intuitive and responsive, and enabling more seamless, in-the-moment experiences beyond traditional screens. 

The campaign will roll out in phases, beginning with the announcement followed by a series of digital activations across platforms, spotlighting key moments including training footage, AI-led interactions and day-in-the-life content. 

The Oakley Meta HSTN and Vanguard collections are available at leading optical stores.

Market shows more resilience as monthly sales transactions lift to almost 14,000

Dubai, UAE, May 4: The Dubai real estate market showed continued resilience in April, recording 13,977 sales transactions worth AED48 billion.

A market update issued today by fäm Properties showed that activity strengthened month-on-month, with sales volume rising 3.5% compared to March, while total sales value increased by 10.7%.

The strongest growth came in the commercial sector, including offices and shops, with 561 sales transactions valued at AED4 billion, up 33.9% YoY and 36.2% month-on-month.

Apartment sales were also up MoM by 6.5% to 11,377 transactions worth AED24.1 billion, while plot sales rose 34.7% MoM to 237 deals valued at AED6.6 billion. The average property price per sq ft was up by 16.1% YoY to AED1,840.

Data from DXBinteract revealed that primary sales again dominated in April, accounting for 10,563 sales transactions totalling AED35.8 billion, compared with 3,414 resales valued at AED12.2 billion.

“Last month’s performance reflects the market’s underlying strength, with steady demand across both residential and commercial segments,” said Firas Al Msaddi, CEO of fäm Properties. 

“Despite ongoing geopolitical tensions, Dubai is benefiting from its reputation as a stable, transparent and well-regulated environment for investment. The continued dominance of primary sales also points to long-term confidence in the emirate’s growth and development pipeline.”

For the second month in succession, Dubai South was the best-performing area, with 1,171 sales transactions valued at AED2.7 billion, marking its sixth consecutive month in the top five.

TOP FIVE PERFORMING AREAS IN APRIL 2026

                                                            Transactions              Sales value

Dubai South                                        1,171                           AED2.7B

Jebel Ali First                                      887                              AED1.9B                   

Al Barsha South Fourth                      828                              AED1.0B

Wadi Al Safa 5                                   814                              AED1.4B

Dubai Islands                                      732                              AED2.8B       

The most expensive apartment sold in April was a luxury property at Aman Residences Tower 2 at Jumeirah Second which fetched AED171 million.

Other luxury apartments sold for AED122 million at Baccarat Residence T1 at Downtown Dubai and AED118 million at Building C at Marsa Dubai. The most expensive villa went for AED76 million at Eden Hills.

With properties worth more than AED5 million accounting for 11.81% of sales, 12.65% were between AED3-5 million, 17.54% between AED2-3 million, 34.7% between AED1-2 million and 23.3% were below AED1 million.

 

BEST-SELLING PROJECTS IN APRIL 2026

Primary market apartments

	Volume	Value AED	Median price AED
Creek Bay Tower B	198	584.0M	2.0M
Damac Lagoons – Valencia Tower A	155	142.6M	764K
Damac Lagoons – Valencia Tower B	150	133.0M	750K
Creek Haven Tower	144	385.6M	2.0M
Meriva Sunset	135	523.1M	3.2M

 

Primary market villas

Saih Shuaib 1	254	2.0B	6.6M
Dubai Investment Park First	74	106.3M	1.3M
Damac Islands 2 – Bahamas 2	45	140.5M	2.8M
Salva The Heights	43	353.5M	7.1M
Serro 2 The Heights	43	343.8M	8.0M

Resale apartments

Citywalk Building 18a	64	363.3M	4.9M
The Polo Residence – A3	60	121.7M	1.8M
Ciel	44	38.6M	750K
The Hamilton	22	29.7M	1.5M
Peninsula Three	19	34.4M	1.8M

Resale villas

Damac Lagoons – Costa Brava (2)	15	51.7M	3.1M
Jumeirah Village Triangle	13	72.7M	5.6M
Rukan 3	11	14.8M	1.1M
Aura	10	51.9M	5.2M
Damac Lagoons – Santorini (1)	10	35.8M	3.6M