Category: Business

Mumbai, Apr 29 (BNP): Global gold demand recorded a modest but steady rise in the January–March quarter, supported primarily by strong investment buying in bars and coins amid persistent geopolitical tensions and elevated price levels, according to the latest World Gold Council (WGC) report released on Wednesday.

Total global gold demand, including over-the-counter (OTC) transactions, increased by 2% year-on-year to 1,231 tonnes in Q1 2026, compared to 1,205 tonnes in the same quarter last year.

The standout driver of growth was investment demand, which surged sharply as investors increased allocations to physical gold. Bar and coin purchases rose 42% year-on-year to 474 tonnes, reflecting growing demand for gold as a safe-haven asset during periods of global uncertainty and financial market volatility.

While overall physical demand growth remained moderate, the value of gold demand witnessed a significant jump. Total demand value soared to a record USD 193 billion, registering a 74% year-on-year increase, driven largely by higher international gold prices.

Analysts suggest that this trend highlights a shift in investor behaviour, with gold increasingly being used as a hedge against inflation, currency fluctuations, and geopolitical risk. Even as jewellery demand remains relatively stable, investment-led demand is playing a more dominant role in shaping overall market dynamics.

The report indicates that gold continues to retain its strategic importance in global portfolios, particularly during uncertain macroeconomic conditions, where investors seek stability and long-term value preservation.

Overall, the Q1 data reflects a resilient gold market, where modest volume growth is being outweighed by strong value expansion, underpinned by robust investment interest.

New Delhi, Apr 29 (BNP): India’s credit card spending recorded a strong month-on-month rise in March, increasing by 24% to ₹2,194 billion (₹2.19 lakh crore), supported by seasonal demand and a lower base effect, according to a recent report released on Tuesday.

The data indicates that while overall spending saw a noticeable jump, the broader consumption pattern is gradually stabilising, suggesting a normalisation in credit-driven expenditure trends.

Analysts noted that the increase in March spending was influenced by seasonal factors, which typically drive higher consumer activity during the period. However, when viewed over a longer period, spending growth appears to be moderating compared to earlier high-growth phases.

The report further highlighted that credit card usage continues to remain an important indicator of urban consumption, reflecting spending behaviour across categories such as retail, travel, and services.

Despite short-term fluctuations, experts suggest that consumer spending remains steady, with credit usage aligning more closely with income growth and broader economic conditions.

Overall, the data points to a healthy but stabilising credit card market, where sharp monthly increases are balanced by a more sustainable long-term growth trend.

New Delhi, Apr 29 (BNP): Major changes in LPG booking rules, delivery verification, and pricing are expected to come into effect from May 1, along with a continued push towards cleaner fuel usage, according to recent policy updates.

Under the revised system, booking intervals for LPG cylinders will be extended. Urban consumers will need to wait 25 days between bookings, while rural consumers will have a 45-day gap, compared to the earlier shorter cycle. The move is aimed at improving supply management and ensuring smoother distribution.

A key update is the introduction of a mandatory OTP-based delivery verification system. Consumers will now need to confirm LPG deliveries through a one-time password sent to their registered mobile numbers. This digital system is intended to improve transparency and reduce misuse, hoarding, and diversion of subsidised cylinders.

On the pricing front, LPG rates have already seen an increase in recent months, with domestic cylinders rising by about ₹60 in April. Commercial cylinder prices have also increased more sharply, and further revisions may take place depending on global crude oil movements and market conditions.

The government is also continuing its focus on promoting piped natural gas (PNG). In areas where PNG infrastructure is available, households may be encouraged to switch, with phased restrictions on LPG supply for eligible users expected over time.

Despite global uncertainties, officials have said LPG, PNG, and CNG supplies remain stable, with priority being given to essential services. Consumers have been advised to avoid panic buying and complete necessary eKYC updates to ensure uninterrupted service.

Overall, the changes are aimed at improving efficiency, strengthening supply management, and gradually shifting consumers towards cleaner and more sustainable energy options.

Bengaluru, Apr 29: Ennismore, in partnership with Accor India and InterGlobe Hotels, today announced the signing of The Hoxton, Bengaluru City, marking the brand’s much-anticipated debut in India. The hotel is slated to open in November 2026 on Richmond Road, bringing The Hoxton’s signature open-house spirit and neighbourhood-focused hospitality to one of India’s most dynamic cities.

Located in the heart of Bengaluru, the hotel will feature 149 guestrooms, including The Hoxton’s signature categories—Roomy, Biggy, and four HOMEY suites situated on the top floors, offering sweeping city views. Designed as a “home away from home,” the rooms will reflect a blend of craftsmanship, local influences, and practical residential-style design.

Food and beverage will play a central role in the guest experience. The ground-floor lobby restaurant and bar will serve as a vibrant social hub throughout the day, embodying The Hoxton’s philosophy of creating spaces that feel like the neighbourhood’s living room. The rooftop will feature Fi’lia, making its second appearance in India as a poolside restaurant and bar, offering a lively setting for dining and socialising against the Bengaluru skyline.

The property will also include “The Apartment”, The Hoxton’s signature meetings and events concept, featuring a central pantry and meeting rooms for intimate gatherings, alongside a larger event space accommodating up to 240 guests.

Staying true to its community-first ethos, The Hoxton Bengaluru City will collaborate with local artists, designers, and creators through curated events, guest chef takeovers, the Hox Gallery, and retail offerings via the Hox Shop—celebrating the city’s rich creative culture across art, fashion, music, and food.

Commenting on the launch, Gaurav Bhushan, Group CEO of Ennismore and Chairman of Accor India, said:

“India is one of the most exciting hospitality markets globally. The market is ready for a true lifestyle experience, and our focus is on building brands that resonate with Indian guests while maintaining our global DNA. Bengaluru, with its vibrant cultural ecosystem, is the ideal city for The Hoxton’s India debut.”

Aditya Pande, Group CEO of InterGlobe Enterprises, added:

“The entry of The Hoxton into India marks a defining moment in our journey to bring world-class, lifestyle-led hospitality to the country. Bengaluru’s creative energy and global outlook make it a natural fit for the brand. We are confident this property will set a new benchmark for urban hospitality in India.”

Originally launched in London’s Shoreditch in 2006, The Hoxton has grown into a globally recognised lifestyle hospitality brand with 19 properties across the UK, Europe, and the US, and an expanding pipeline in cities such as Melbourne, Oslo, Nashville, and Mexico City.

This announcement builds on the strategic alliance between Accor and InterGlobe, aimed at creating one of India’s fastest-growing hospitality platforms. The partnership targets a portfolio of 300 hotels under Accor and Ennismore brands by 2030, tapping into India’s rapidly expanding travel and hospitality market.

 

Mumbai, Apr 29 (BNP): Systematic Investment Plans (SIPs) in Balanced Advantage Funds are emerging as a disciplined investment approach for retail investors navigating volatile market conditions, according to recent market commentary and investment trends.

Balanced Advantage Funds, which dynamically adjust their equity and debt exposure based on market conditions, are increasingly being viewed as a stable option for long-term wealth creation. These funds aim to reduce downside risk during market downturns while capturing growth opportunities during upswings.

Financial experts note that combining SIPs with Balanced Advantage Funds helps investors maintain consistency in their investment behaviour, especially during periods of market uncertainty. Regular monthly investments reduce the impact of short-term volatility and help avoid emotional decision-making.

The approach is particularly relevant in the current environment, where equity markets are experiencing fluctuations driven by global cues, interest rate expectations, and geopolitical developments. SIPs ensure that investors continue investing at different market levels, which helps in averaging purchase costs over time.

Investment advisors highlight that Balanced Advantage Funds are designed to automatically rebalance portfolios between equity and debt, making them suitable for investors seeking a relatively smoother investment experience compared to pure equity funds.

Overall, the combination of SIP discipline and dynamic asset allocation is being positioned as a strategy that supports long-term financial goals while managing market uncertainty more effectively.

Mumbai, Apr 29 (BNP): The Indian rupee traded weaker in early session on Wednesday, declining 13 paise to 94.81 against the US dollar, as higher global crude oil prices and persistent dollar demand weighed on market sentiment.

The currency opened at 94.79 in the interbank foreign exchange market and slipped further to 94.81 in initial deals, reflecting continued pressure from external factors.

Forex market participants said rising crude oil prices have increased import-related concerns, while month-end dollar demand and a cautious global risk environment have added to the pressure on emerging market currencies, including the rupee.

Traders also pointed to global developments, noting that investors are closely watching the upcoming US Federal Reserve policy decision. While no change in interest rates is widely expected, market attention remains focused on the central bank’s commentary for cues on future direction.

Overall, sustained strength in crude oil prices and global uncertainty continue to influence short-term movement in the rupee, keeping it under mild pressure.

Apr 29 (BNP): Brevistay has integrated with the unified payment infrastructure of Unlimit to simplify and accelerate its payment operations across India and global networks. The collaboration is designed to remove the complexities of fragmented payment systems and deliver a smoother, faster transaction experience for users.

By adopting Unlimit’s programmable payment layer, Brevistay gains seamless access to multiple payment rails, including UPI and international card networks, through a single integration. This eliminates the need for multiple system connections and reduces operational inefficiencies, enabling faster deployment and improved reliability.

The partnership comes at a time when the global payments landscape is becoming increasingly complex. While financial infrastructure is consolidating at the backend, customer-facing payment methods are becoming more localized and fragmented. For high-frequency platforms like Brevistay, which offers flexible, short-duration stays, ensuring fast and reliable payments is essential to maintaining user experience.

Unlimit’s infrastructure helps address this challenge by simplifying the underlying payment architecture and abstracting regional complexities into a unified system. This allows businesses to focus on scaling operations rather than managing technical and regulatory barriers.

Speaking on the partnership, representatives from Unlimit noted that payments form a core part of modern digital businesses and must function as a stable backbone for growth. By providing access to its global payment infrastructure, the company aims to help platforms scale across markets without being slowed down by fragmented systems.

From Brevistay’s perspective, the integration ensures that payment processing keeps pace with the speed of its booking model. The company highlighted that a seamless and efficient payment system is critical for delivering a smooth customer experience in the on-demand hospitality space.

As Brevistay prepares for further expansion, the partnership is expected to support its growth by offering a more flexible, scalable, and globally aligned payments framework.

Bangalore, India, Apr 29: OneSource Specialty Pharma Limited  today announced that its partner Dr. Reddy’s Laboratories Ltd., has received a Notice of Compliance from Health Canada for Semaglutide Injection, a generic version of Ozempic®. OneSource serves as the CDMO partner on this program, providing scale-up and manufacturing support. 

The partnership is designed to ensure reliable and scalable commercial supply from OneSource’s US-FDA approved flagship manufacturing facility in Bengaluru.

Mr. Neeraj Sharma, CEO & MD, OneSource Speciality Pharma Limited, speaking on the development, said: “We are pleased to announce that our partner Dr. Reddy’s has received approval from Health Canada for Semaglutide Injection, a generic version of Ozempic®. This approval further strengthens our collaboration, combining Dr. Reddy’s expertise in peptide development with OneSource’s CDMO capabilities.”

Mangaluru, Apr 29 (BNP): Union Finance Minister Nirmala Sitharaman said that India’s Viksit Bharat vision is centered on inclusive development and shared prosperity, moving beyond traditional measures of economic growth such as GDP.

Speaking at an event at NITTE, she stressed that India must view development as an ongoing journey rather than a finished goal. The long-term objective, she said, is to build a developed nation by 2047 through collective effort across all sections of society.

She explained that the vision of Viksit Bharat is fundamentally human in nature, focusing on improving quality of life through access to education, healthcare, meaningful employment, and a clean environment. According to her, true progress is reflected in people’s aspirations and opportunities, not just economic numbers.

Highlighting the changing mindset of India’s youth, especially young women, she noted that aspirations have shifted from basic survival to achieving excellence, global competitiveness, and professional success. This transformation, she said, reflects a confident and ambitious new India.

Sitharaman also emphasized inclusive development, stating that progress must reach farmers, fishermen, and tribal communities. She underlined the importance of equipping them with modern resources, financial security, and market access while preserving their cultural identity and way of life.

She further pointed out that India’s demographic advantage—nearly 900 million people under the age of 35—represents a major opportunity for growth and innovation if properly harnessed.

Calling Viksit Bharat a national mission, she said it requires active participation from the government, private sector, academia, and citizens. While policy provides direction, she added, the real momentum will come from the collective effort of India’s people.

In conclusion, she described Viksit Bharat as a model of development that prioritizes inclusion, dignity, and shared prosperity, ensuring that economic progress benefits every section of society.

New Delhi, Apr 29 (BNP): India is expected to remain relatively stable and resilient despite increasing uncertainty in the global economy, according to a report by the Bank of Baroda.

The report highlights that the global economic environment is currently facing several challenges, including geopolitical tensions, fluctuating commodity prices, and tighter financial conditions. These factors have created volatility across many economies. However, India is seen as better prepared to deal with such external pressures.

One of the key reasons for this resilience is strong domestic demand, which continues to support economic activity within the country. In addition, India’s banking and financial systems remain stable, helping maintain confidence among investors and businesses.

The report also points to prudent government policies and ongoing reforms that have strengthened the country’s economic foundation over time. These measures are expected to help India absorb global shocks more effectively and avoid major disruptions.

While risks from the global environment still remain, the overall outlook for India is positive. The country’s strong macroeconomic fundamentals are likely to act as a cushion, supporting steady growth in the near and medium term.

In essence, even as the global economy faces uncertainty, India is well-positioned to manage challenges and sustain its growth momentum.