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Ruble dips to record 17-month low as Putin warned of looming currency free fall | World | News

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The Russian Ruble dropped to a 17-month low exchange rate after weeks of continuous slides against the US Dollar, and the Euro experienced a 64 percent drop in its value over the past calendar year.

On Wednesday, the Ruble dropped nearly two percent against the Euro, with the currency now trading at 103 Rubles to the Euro.

The widespread sanctions levelled at Russia since the invasion, coupled with investors’ jitters following weeks of repeated attacks against Russian targets are believed to have contributed to the dramatic drop.

Ukraine has carried out several overnight drone strikes on Moscow this week, with the financial district being one of the Ukrainian forces’ main targets.

The attacks have been fuelling concerns about the Russian economy further compounded by questions about the Ministry of Finance’s ability to keep up with an exchange rate close to 90 against the Dollar.

In recent weeks, Moscow has had to sell off billions of foreign currency reserves to cover the losses in oil revenue.

Only this week, the Russian Central Bank announced plans to sharply raise interests rates to 9.5 percent in a desperate attempt to battle inflation.

Russians have increasingly been lamenting the loss of purchase power of the Ruble, reporting their money now buys half of goods it did earlier in the year.

Indiana University economist Dr Volodymyr Lugovskyy argued the current issues are only going to get worse as he warned of a potential “free fall” in the coming weeks.

Dr Lugovskyy forecast a “coming hyperinflation with prices increasing and wages not being adjusting,” causing the price of goods and services to soar further.

Despite the dire prospects, Reuters earlier this year noted Russia had recorded its lowest employment rate since the collapse of the Soviet Union.

Vladimir Putin and his men have been plumping up the economy since the start of the Ukrainian invasion, and a large number of Russians have been coopted in the actual fighting at the front in Ukraine or in the production of military equipment.

But speaking to the Kyiv Post, Dr Lugovskyy argued the signs now suggest the Ruble will “keep falling.”

He said: “If traders start believing the RMoF stops supporting it, it will fall very fast – very fast.”

The economist also added that should the scenario come to pass, “the exchange rate and Ruble might be then in free fall.”

Other experts however have suggested the drop was also the result of the tax period coming to an end.

An analyst at Alfa Investments told business daily RBK: “At the end of the month, exporters sell forex earnings to pay taxes, and this supports the Ruble.

“And when this period ends (usually on the 28th of each month), the ruble traditionally weakens.”

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Mumbai To Face Water Crisis? Tanker Operators Announce Indefinite Suspension Of Services. Here’s Why

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Mumbai may face severe water supply disruptions next week. The Mumbai Water Tanker Association has announced that tanker services across the city will be suspended indefinitely from midnight on June 7.

The association cited what it called the selective and stringent implementation of Central Ground Water Authority (CGWA) rules in the Mumbai Division as the reason behind suspension of services.

In a public notice, the association said that all water tanker operators have taken their vehicles off the road. It further added that water transportation services had been halted until further notice.

Also Read: Will Mumbai Face Water Crisis? City’s Lakes Have Supply Left Only For These Many Days

The Mumbai Water Tanker Association claims CGWA regulatory action has adversely affected tanker operators, RO plant operators, well and borewell owners and water suppliers, threatening the viability of the sector itself.

The group highlighted the role of the water tanker sector and how it has been serving Mumbai for over eight decades. It claimed that operators had no choice but to suspend services until a practical solution was reached with the authorities.

The association has written a letter to Maharashtra Chief Minister Devendra Fadnavis, asking for an immediate emergency meeting and relaxation of regulations related to the tanker business.

Their demands include a clear policy for the tanker industry and relaxation in groundwater regulations. The group has also asked that police and administrative action against tanker operators should be stopped and First Information Reports (FIRs) against them should be reconsidered. 

Who Will Be Affected By The Water Supply Disruption?

The association plays a crucial role in supplying water to housing societies, hospitals, commercial establishments and industries. Thousands of residents could be affected by the suspension of tanker services. 

Also Read: Offered Rs 30,000 Salary, Mumbai Cab Driver Now Earns Rs 2 Lakh A Month, Video Goes Viral

While Mumbai is waiting for the onset of monsoon, concerns remain over water availability in several localities that depend wholly or partially on tanker services. 

The tanker strike comes as Mumbai is already facing a 10% water cut. The shutdown of tanker services is likely to further worsen the situation and lead to a crisis in many residential and commercial areas from Monday.

The tanker operators have expressed regret for the inconvenience likely to be caused by the suspension of services, Free Press Journal reported. They appealed to the government and departments concerned to intervene and resolve the issue urgently.

Authorities have not yet issued an official response to the strike call. If the services shut down as announced, parts of the Mumbai Metropolitan Region could suffer severe water shortages, impacting the lives of millions. 

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Bobby Deol’s Film Sees Slow Growth, Earns This Amount

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Anurag Kashyap’s Bandar continued its theatrical run on Saturday, but the film is still struggling to gain momentum at the box office.

According to live estimates from Sacnilk, the crime thriller has earned Rs 0.14 crore net in India on Day 2 so far from 512 shows. With the latest numbers, Bandar’s total India net collection has reached Rs 0.64 crore, while its India gross collection stands at Rs 0.77 crore.

The film maintained an overall occupancy of around 10% on Saturday, similar to its opening-day trend, indicating limited audience traction across major markets.Bandar opened on Friday with Rs 0.50 crore net collection from 1,365 shows nationwide. The film recorded an overall occupancy of 10% on its first day.

Occupancy Performance On Day 2

The Hindi version recorded a morning occupancy of 5.46% across the country, reflecting a modest start to the day. Since the afternoon, evening and night show data is yet to be reported, the overall occupancy currently remains at 5.46%.

Among major centres, Jaipur registered the highest occupancy at 13% despite operating with only 26 shows. National Capital Region (NCR), Bengaluru and Pune followed with 9% occupancy each.

Mumbai recorded 8% occupancy from 99 shows, while Lucknow reported 7% from 34 shows. Ahmedabad and Chandigarh both stood at 5%.

At the lower end, Kolkata recorded 3% occupancy, and Bhopal managed only 2%. Surat emerged as the weakest-performing market among reported centres, with just 1% occupancy from 50 shows.

Occupancy figures for Hyderabad and Chennai were unavailable at the time of reporting.

ALSO READ: From Bend It Like Beckham To Shaolin Soccer: Football Films To Watch Amid 2026 FIFA World Cup Buzz

Show Count Trends

NCR remained the film’s biggest market in terms of screenings, accounting for 212 shows. Ahmedabad followed with 109 shows, while Mumbai had 99 and Bengaluru had 64.

Surat hosted 50 shows, followed by Kolkata with 37. Lucknow and Pune each had 34 shows, while Chandigarh had 32 and Jaipur 26.

About The Film

Directed by Anurag Kashyap, Bandar stars Bobby Deol, Raj B. Shetty, Jitendra Joshi and Sapna Pabbi.

The crime thriller follows Samar, an ageing artist whose life spirals out of control after a former partner accuses him of rape, leading him into a troubled legal and law-enforcement system.

ALSO READ: Hai Jawani Toh Ishq Hona Hai vs Bandar Box Office Collection: Varun’s Starrer Outpaces Bobby Deol’s Thriller

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Zepto To File Updated DRHP Next Week, Kickstart Investor Roadshows With July IPO Aim

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Quick commerce platform Zepto is set to file an updated draft red herring prospectus (DRHP) early with SEBI next week, according to sources familiar with the matter, as the company looks to take the next step in its public market journey.

The updated filing will pave the way for investor roadshows and move the company closer to a July stock market debut. Zepto had originally filed its IPO papers under the confidential route in December 2025.

Sources said the company is looking to raise around Rs 11,000 crore through the offering. Founders Aadit Palicha and Kaivalya Vohra are not expected to sell shares in the IPO, keeping their stakes as Zepto enters the public markets.

ALSO READ | Zepto IPO Gets SEBI Nod; Q-Comm Startup Expected To Raise $1 Billion

The listing comes at a time when India’s quick commerce sector is increasingly being judged on scale, profitability and the quality of revenue rather than just growth.

Sources said Zepto has crossed Rs 10,000 crore in net order value (NOV) in the current quarter, marking a key milestone as competition intensifies among the country’s largest quick commerce players.

The company has also significantly reduced cash burn, bringing it down to around Rs 120 per order from nearly Rs 200 a year ago. Internally, Zepto expects another four to five quarters before reaching what it considers an optimal break-even level across the business.

One of the key changes in Zepto’s IPO narrative is likely to be its focus on Net Realizable Value (NRV) as a core operating metric.

The move would distinguish Zepto from listed rival Eternal (formerly Zomato), which reports Net Order Value (NOV) for its quick commerce business Blinkit. NOV broadly captures the value of orders transacted on the platform, while NRV seeks to reflect the actual revenue realised by the company, including commissions, service fees and advertising income.

ALSO READ | Govt Gears Up For AI Rollout Across Ministries; TCS Among Six Firms Selected For Deployment

Sources said Zepto plans to include advertising revenue within its NRV metric, highlighting the growing contribution of ads to the economics of quick commerce. The approach could offer investors a clearer picture of monetisation compared with gross transaction value-based measures.

Meanwhile, Swiggy has disclosed gross order value and other operating metrics for Instamart, with investors increasingly tracking contribution margins, take rates and advertising income as indicators of the business’s path to profitability.

The upcoming IPO is expected to be among the largest public offerings by a new-age consumer internet company this year and will provide investors with a fresh benchmark to compare the business models and profitability trajectories of Zepto, Blinkit and Instamart.

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