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    Federal Bank Strengthens Focus on Wealth Management Business
    Crude oil prices spike near $120 a barrel as Iran war impedes production, shipping
    Crude oil prices spike above $115 a barrel as Iran war impedes production, shipping
    DGFT Extends Export Obligation Period for Advance Authorisations and EPCG Authorisations till August 31, 2026
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March 9, 2026
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Wealth management platform expansion strengthens bank's direct advisory franchise while maintaining strategic collaboration with existing partner.
Federal Bank launched Fed Wealth and a Wealth Hub to develop an in house wealth franchise offering fixed income, equities, mutual funds, alternatives and GIFT City solutions, and will establish specialised Wealth Hubs for private advisory and virtual consultations. The Bank restructured its arrangement with Equirus Capital to align product and service architecture for affluent and UHNI clients while ensuring uninterrupted service for existing Equirus customers, retaining a minority stake in Equirus and continuing targeted collaboration to offer select Equirus products to UHNI clients.
March 9, 2026
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Oil supply disruption drives crude price surge and market volatility amid Middle East conflict, threatening shipping and energy inflation.
Crude oil prices surged as the Iran war damaged energy infrastructure and disrupted shipping through the Strait of Hormuz, constraining exports and prompting production cuts by regional producers. Attacks on depots and transfer terminals, reduced tanker traffic, and filling storage tanks tightened physical supply, fueling market volatility, higher fuel and natural gas prices, and inflationary pressures. Discussions of strategic petroleum reserve releases and official assurances were cited as potential mitigating measures against persistent disruptions.
March 9, 2026
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Oil supply disruption drives crude prices up, threatening global inflation and straining markets and fuel costs.
Crude oil prices surged after the Iran war disrupted production and maritime transit through the Strait of Hormuz, impeding tanker movement and prompting output cuts by producers as storage tanks filled. Attacks on oil and gas facilities and depots further reduced exports, transmitting supply shocks into elevated crude and natural gas prices, higher retail fuel costs, intensified market volatility, and upward pressure on inflation, with major buyers potentially seeking alternative suppliers.
March 9, 2026
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Export Obligation extension grants automatic relief for advance and EPCG authorisations, no application or fee required.
Automatic extension of the Export Obligation (EO) period is provided for specified Advance Authorisations and EPCG Authorisations, without requiring separate applications or payment of composition fees, operating alongside existing Foreign Trade Policy and Handbook of Procedures provisions; DGFT regional authorities will verify EO compliance at the time of issuance of Export Obligation Discharge Certificates, closure, or regularisation, and Customs have been informed to permit exports consistent with the revised EO timeline.
March 9, 2026
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Technological self-sufficiency drives China's industrial policy, prompting state-led subsidies and supply-chain strategies to counter foreign tech restrictions.
China's 2026 and five-year plans combine near-term focus on expanding domestic demand with a strategic push for technological self-sufficiency. The state will deploy industrial policy and sizeable subsidies to accelerate breakthroughs in AI, semiconductors, batteries, biotech, 6G, electric vehicles and commercial aviation, seeking supply-chain resilience in response to foreign technology restrictions, while acknowledging risks of manufacturing oversupply and international trade tensions.
March 9, 2026
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Energy supply disruption raises oil prices and fuels market volatility with implications for fuel costs and economic risk.
Oil prices rose above one hundred dollars per barrel after conflict involving Iran disrupted production and shipping through the Persian Gulf, reducing tanker transits via the Strait of Hormuz, prompting production cuts and storage fill-ups among regional producers, and following attacks on oil and gas facilities that tightened global crude availability and heightened market volatility.
March 8, 2026
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Sanctions waiver allows delivery of Russian-origin crude already loaded, enabling refiners to secure alternate supplies amid shipping disruptions.
A temporary sanctions waiver permitting sale and delivery of Russian-origin crude loaded prior to the cutoff enables Indian refiners to accept in transit Russian cargoes without breaching sanctions; refiners are also sourcing additional supplies from non-conflict regions, maintaining processing rates and using onshore and strategic reserves to preserve inventory coverage while facing higher freight, insurance and commodity price risks.
March 7, 2026
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Trade preference: India secured preferential market access under a bilateral framework with the US, affecting tariffs and procurement.
A bilateral trade framework with the US sets reciprocal tariff adjustments and market-access commitments, with India agreeing to reduce or eliminate tariffs on a broad set of US industrial and agricultural products and declaring procurement commitments for US goods; final legalisation is pending after changes in US tariff policy and postponement of negotiators' talks.
March 7, 2026
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Illicit export of controlled drug by mislabelling and forged customs papers exposed, forensic testing confirmed substance.
Three individuals were arrested for exporting etomidate by mislabelling consignments as aloe vera powder and a personal care ingredient, using forged customs documents and air cargo from Mumbai; Raman spectrography confirmed etomidate, the suspects admitted contacts with overseas drug-cartel members, and shipments were bound for jurisdictions where etomidate is treated as a controlled or prohibited substance.
March 7, 2026
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Government emergency power to direct refineries ensures LPG supply while domestic cooking gas prices rise.
Domestic cooking gas prices were raised significantly and commercial LPG rates were increased separately; state differentials reflect local tax incidence. The rise was linked to global energy price spikes and supply disruptions through the Strait of Hormuz. The government invoked emergency powers to direct refineries to boost LPG production and indicated petrol and diesel prices will not be raised immediately because state oil companies can absorb short term cost pressures.
March 7, 2026
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Port facilitation measures urged to permit charge waivers and operational steps to manage disruption from West Asia crisis.
The Ministry's Standard Operating Procedure requires each port to appoint a nodal officer as single point of contact to secure timely action and mandates that ports consider, case by case and depending on circumstances, requests for reduction, waiver or remission of charges including storage rent and change of vessel charge; permit storage of Middle East bound cargo as transshipment cargo; allot additional storage; facilitate ad hoc berthing and expedited return movement of export cargo; prioritise perishable cargo handling; and coordinate with Customs and DGFT for implementation.
March 7, 2026
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Export obligation relief extends EO for specified advance and EPCG authorisations without composition fee to aid exporters facing shipping disruptions.
The DGFT has automatically extended the export obligation period, block-wise, for specified advance authorisations and EPCG authorisations expiring between March and May, until August 31, 2026, without payment of the composition fee, supplementing existing foreign trade policy extension mechanisms to assist exporters affected by shipping and supply-chain disruptions.
March 7, 2026
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Vehicle smuggling exposed; arrests follow forged registrations and alleged official complicity, customs pursue custody.
A cross border smuggling scheme brought high end used vehicles from Bhutan into India without payment of Customs duties, re registering them using forged documents; Customs' "Operation Numkhor," aided by state police, led to arrests, seizures and a planned court application for custody to further investigate alleged organiser conduct including involvement of a District Transport Officer and duplicate registrations identified by the auditor.
March 7, 2026
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Emergency powers invoked to boost domestic LPG production amid supply disruptions following Middle East conflict.
Retail LPG prices for household and commercial cylinders were increased, with non subsidised domestic cylinders and Ujjwala beneficiaries affected and commercial cylinders rising by a larger margin; the hikes are attributed to global energy price spikes and supply disruptions via the Strait of Hormuz. To augment domestic supplies, the government invoked Emergency Powers directing refineries to ramp up LPG production, while state taxes continue to cause regional price differences.
March 7, 2026
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Unique Transaction Identifiers mandated for each scheme to improve traceability; notify UIDAI and adopt LITE code where applicable.
REs implementing Aadhaar authentication must embed a Unique Transaction Identifier (up to five alphabetic characters appended to the transaction ID) for each scheme/service/use case, notify UIDAI using the Annexure III format before implementation, and follow Annexure I guidelines; low volume government entities may apply for a LITE Code via their AUA/KUA under the SOP in Annexure II, with secure logging, compliance obligations, and license/penalty consequences if thresholds are exceeded.
March 7, 2026
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SGST reimbursement for film exhibition approved subject to print week limits, ticket price restrictions, and treasury deposit compliance.
Reimbursement of the State Goods and Services Tax (SGST) equivalent for the film is approved subject to conditions: no increase in prevailing entry fees or changes to seating-class capacities; a statewide cumulative print week ceiling limiting the product of prints and weeks and an overall exhibition duration cap of three months; ticket sales must reflect reduction of the SGST component during the notified period; and multiplex/cinema owners must deposit the SGST amount into the treasury following the prescribed procedure.
March 7, 2026
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Free Trade Agreements expansion broadens market access and mobility, protecting sensitive sectors while promoting exports and investment.
India has expanded its network of Free Trade Agreements, implementing bilateral and plurilateral instruments that broaden preferential market access for agriculture, exporters of garments, leather and handicrafts, AYUSH and organic products, and digital services, while introducing mobility and post-study work pathways and measures to catalyse investment; negotiations are described as balancing market access with protections for sensitive sectors and domestic industry to align trade expansion with national self-reliance and economic transformation.
March 7, 2026
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Permission to import Russian-origin oil as a short-term supply waiver allows select deliveries to Indian ports under strict conditions.
The Treasury issued a time-limited authorization allowing sale, delivery and offloading in India of Russian-origin crude oil and petroleum products loaded on vessels on or before March 5, 2026, authorised through April 4, 2026, provided delivery/offloading occurs at an Indian port and the purchaser is an entity organised under Indian law; the general license is narrowly limited to those transactions and does not authorise other transactions prohibited by separate Executive orders or the Iranian Transactions and Sanctions Regulations.
March 7, 2026
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Labor market weakness deepens as employers cut jobs and unemployment rises, complicating monetary policy choices.
Significant net job losses and a rising unemployment rate signal renewed strain in the labour market: employers cut 92,000 jobs in February, pushing the unemployment rate to 4.4 percent and reversing January's stronger payroll gain. Job losses were broad-based across healthcare, restaurants and bars, construction, manufacturing, administrative support, and courier services, while average hourly wages increased modestly year over year.
March 6, 2026
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Free Trade Agreement delivery shifts to implementation, emphasising tariff liberalisation, procurement access and parliamentary ratification.
The Government has shifted focus to operationalising the India-UK Comprehensive Economic and Trade Agreement (CETA), advancing entry-into-force and parliamentary ratification while highlighting tariff liberalisation for UK exports and exclusive access to India's federal procurement market; peers urged attention to implementation mechanics, services and investment gaps, SME support, and comparative analysis with other India agreements.

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The World Famous American Pan-Asian Brand, P.F. Chang's, Debuts in the Tricity with Mohali Restaurant at HLP Gallerria

March 25, 2026

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Mohali, Punjab, India (NewsVoir) P.F. Chang’s, the globally celebrated culinary brand known for its elevated Pan-Asian cuisine and immersive dining experience, opens its first restaurant in Mohali at HLP Gallerria. Marking its debut in the Tricity region, the launch is in line with the brand’s strategic expansion plans in North India and the next chapter of its growth journey in the country. Founded in 1993, P.F. Chang’s has spent over three decades honoring the 2,000-year-old tradition of wok cooking, bringing high-heat technique, scratch preparation and layered Asian flavors to more than 300 restaurants across 20+ countries. With Mohali, the brand extends this global legacy to a new audience that appreciates bold flavors and contemporary Asian food served with honor. With seven restaurants already operating across Mumbai and Delhi-NCR, the Mohali restaurant is P.F. Chang’s eighth restaurant in India, extending the brand’s presence beyond established metro strongholds into high-potential Northern markets. Ramit Bharti Mittal, Executive Chairman & Director, Gourmet Investments Pvt. Ltd, said: “At P.F. Chang’s, we have built a loyal following in India by staying true to our culinary roots while evolving with the modern Indian diner. Mohali today is one of North India’s most happening food destinations, with guests who are eager to experiment. Our entry here today is therefore perfectly timed to fit into this vibrant food culture by offering bold, new flavors and globally benchmarked experiences.” Taylor Viersen, VP, Global Brand Development, P.F.Chang’s, stated: “Expanding into the Tricity market is a proud milestone in our strategic growth across India, a market that remains a top priority for P.F. Chang’s. We look forward to delivering our signature bold flavors, world-class standards, and ‘wok-first’ culinary heritage to Mohali.” At the heart of the experience lies the brand’s signature 700-degree wok fire, designed to preserve texture, flavor intensity and nutritional value. Guests can savor iconic American Pan-Asian dishes such as Chang’s Lettuce Wraps, Dynamite Shrimp and Kung Pao Chicken, alongside an expansive menu curated for Indian diners, including vegetarian and Jain selections. Guest favorites like the Great Wall of Chocolate, the always ordered Orange Chicken and the Lo Mein are also sure to attract new fans. All dishes are served completely MSG-free, reinforcing the brand’s commitment to quality and purposeful cooking. Recognizing Punjab’s affinity for robust, comforting flavors, the menu also highlights chicken-forward classics that showcase the brand’s layered approach to spice, heat and texture. Jerry Thomas, Culinary Head- Restaurants, said: “Our cuisine is built on technique and precision. High-heat wok cooking, fresh ingredients and sauces prepared from scratch every day are fundamental to what we do. Alongside globally loved classics, the Mohali menu introduces locally crafted expressions inspired by the P.F. Chang’s culinary legacy, including dishes such as Hunan Chili Chicken, Ring of Fire Shrimp and Crispy Lotus Root, each bringing bold flavor, balance and the signature wok-fired intensity the brand is known for.” In addition to its culinary offerings, P.F. Chang's is committed to delivering an exceptional dining experience characterized by attentive service and a warm, inviting atmosphere. The Mohali outpost will feature stylish interiors, making it an ideal setting for family gatherings, celebrations and casual dining. As P.F. Chang’s continues its measured expansion into key Northern markets, the focus remains clear: tradition, embrace innovation and deliver bold Asian flavors served with purpose. About P.F. Chang’s Website: pfchangs.in Instagram: www.instagram.com/pfchangsindia/?hl=en Founded in 1993 by Paul Fleming and Philip Chiang, P.F. Chang’s created a modern Asian dining experience within a premium casual format. The brand’s culinary foundation lies in traditional wok cooking and scratch preparation, with dishes cooked over high heat to retain texture and flavor balance. P.F. Chang’s operates more than 300 restaurants across 20+ countries and positions itself as a destination for social dining and shared meals. In India, P.F. Chang’s currently operates seven outlets: Mumbai — Lower Parel (Lodha), Khar, Andheri, Borivali (Sky City Mall) Delhi-NCR — DLF Mall of India (Noida), Ambience Mall (Vasant Kunj), CyberHub (Gurugram) Fact Sheet Where: Ground Floor, West Court HLP Gallerria, Sector 62, Mohali. Timings: Dine in operational hours - 12 to 11 pm (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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