The Times of India

India's top auditor has urged strengthening local government audit bodies to boost transparency and quality at the grassroots. A national workshop highlighted challenges and best practices, focusing on improving audit frameworks, technology adoption, and capacity building for local fund audit directors. The aim is to ensure better oversight and public fund utilization.

The European Union is considering using its powerful 'trade bazooka' against the US following President Trump's remarks on Greenland. This economic tool, the Anti-Coercion Instrument, allows for retaliation against undue economic pressure. While a significant deterrent, its activation is slow, and EU members are wary of sparking a transatlantic trade war given the massive $2 trillion trade volume.

US stocks steadied after a sharp decline, as investors assessed easing US-Europe tensions over Greenland. While equities saw modest gains, gold prices surged, signaling ongoing risk aversion amid trade uncertainties. Corporate news included Netflix's subscriber slowdown and Kraft Heinz's potential stake sale.

The European Parliament has referred the EU-Mercosur free trade agreement to the bloc's top court, casting legal uncertainty over the recently signed pact. This move, celebrated by some farming groups, follows concerns about agricultural imports and environmental standards.

Parents can invest in mutual funds for minors, with the child as the sole holder, managed by a guardian. Upon turning 18, control fully transfers to the child. While beneficial for disciplined long-term savings, parents lose control post-majority. Tax implications differ before and after the child becomes an adult.

Recycling industry leaders urged policymakers to prioritize open markets and ease cross-border scrap movement in the Union Budget 2026, deeming it critical for a resilient circular economy. Global market access for recycled materials is seen as the biggest enabler for investment and sustainability amidst rising protectionism.

Budget 2026 income tax expectations: Will FM Nirmala Sitharaman reduce the number of tax slabs under the new income tax regime to ease compliance and reduce confusion for taxpayers? Times of India Online asks tax experts:

Gold futures reached a new all-time high on Wednesday, driven by a sharp rally in global prices as investors sought safe-haven assets amidst escalating trade war tensions and geopolitical uncertainty. Silver also continued its upward trend, scaling fresh record highs on the MCX. International gold prices breached the USD 4,800-per-ounce mark.

Zomato's parent company Eternal Limited CEO Deepinder Goyal is stepping down from his role, subject to shareholder approval, to pursue high-risk, experimental ideas outside the public company. He will transition to Vice Chairman on the board, with Albinder Dhindsa named as his successor.

Gold prices in the UAE are soaring in early 2026, mirroring global rallies driven by geopolitical unease and safe-haven demand. Dubai's gold market sees record highs, with 24-carat gold reaching AED 573.75 per gram. This surge reflects international financial trends, impacting local jewellery souks and attracting investors seeking stability amid market volatility.

The real estate sector is anticipating Budget 2026 to bring policy continuity, targeted fiscal measures, and long-pending reforms. Industry leaders are seeking measures to address housing affordability, boost urban growth, improve capital access, and expedite regulatory approvals to sustain market confidence and long-term investment.

India's Union Budget, a crucial financial blueprint, is set for presentation on February 1. This annual statement, mandated by the Constitution, details government receipts and expenditures. The Lok Sabha holds primary authority over its passage, with the Rajya Sabha offering recommendations. The budget significantly impacts resource allocation, economic direction, and citizen finances.

The Union Cabinet has approved the continuation of the Atal Pension Yojana until FY 2030-31. This decision includes extended government funding for promotional and developmental activities. The move aims to strengthen old-age income security for unorganised sector workers.

Industry bodies are urging the Union Budget 2026 to prioritize MSMEs and startups, focusing on liquidity, cost reduction, and export promotion. Key demands include faster refunds, simplified compliance, and improved access to credit to foster entrepreneurship and sustainable growth amid funding and regulatory challenges.

Gold prices hit a record high on Wednesday, with silver trading near its all-time peak. Investors flocked to these safe-haven assets amidst escalating geopolitical tensions and trade uncertainties. The surge was fueled by a US Supreme Court decision and tariff threats, driving domestic and international markets higher. Experts advise a cautious 'buy-on-dips' approach.

Indian stock markets traded mostly lower on Wednesday, with benchmark indices Sensex and Nifty experiencing significant early declines due to geopolitical tensions and foreign fund outflows. While both indices pared some losses by midday, they remained in the red. Global markets also showed weakness, with Asian equities mostly down and US markets closing sharply lower overnight.

The central question before the Supreme Court was whether a wifes failure to cohabit with her husband and comply with a decree for restitution of conjugal rights, without sufficient reason, by itself attracts the disqualification under Section 125(4) CrPC, denying her maintenance.

AU Small Finance Bank posted a robust Rs 667.66 crore net profit for the December 2025 quarter, a 26.3% jump year-on-year. This growth was fueled by strong core earnings and reduced credit costs, despite higher operating expenses. The bank also announced key leadership changes, including new director appointments and a deputy CEO continuation.

Gold price prediction today: Maneesh Sharma of Anand Rathi Shares and Stock Brokers is of the view that while gold prices may continue to rise in the near term, silver prices are expected to see some volatility.

Asian markets tumbled Wednesday, mirroring a sharp US sell-off and escalating geopolitical tensions. Investors grew anxious as US foreign policy concerns and a Danish pension fund's exit from Treasuries unsettled global bond markets. Gold, however, reached an all-time high amid the growing unease and potential for further market disruptions.

Mark Carney's net worth: The Canadian PM's wealth stems from his extensive career in global finance and central banking. His financial standing is modest compared to global elites. Carney's transition to Prime Minister of Canada highlights a shift towards public service. Discussions around his wealth focus on transparency and his qualifications.

Indian Oil Corporation is ready to process Venezuelan crude if supplies resume, recalling past imports. The company's robust refineries can handle the oil, according to its chairman. This comes amid geopolitical shifts and India's strong economic growth, which attracts global business interest. IOCL continues to invest in the energy sector.

The Indian rupee hit a new low of 91.20 against the US dollar on Wednesday, extending its downward trend. This depreciation is attributed to strong dollar demand from metal importers, continued foreign fund outflows, and geopolitical uncertainties. The domestic stock market's sluggish performance also contributed to the rupee's decline.

Stock market today: Weighed down by weak global cues, Indian equity benchmarks Nifty50 and BSE Sensex, opened in red on Wednesday after over 1% declines in the Tuesday session. While Nifty50 was below 25,200, BSE Sensex dropped over 200 points.

Global markets experienced a significant downturn Tuesday, with US indices suffering their worst day in three months following President Trump's new tariff threats against Europe. This sparked a broad sell-off, pushing gold higher and impacting Bitcoin. Indian markets also mirrored the global decline, with both Nifty and Sensex falling over 1%.

Budget 2026 expectations: India does not need a larger financial system. It needs a system where liquidity is deeper.

Union Minister Ashwini Vaishnaw clarified that the World Economic Forum in Davos serves as a platform for idea exchange, not formal trade negotiations. India is actively engaged with global economies on various fronts, and its economic growth and renewable energy initiatives are key discussion points at the event.

Stock market recommendations: Mehul Kothari of Anand Rathi Shares and Stock Brokers recommends buying Bajaj Auto, Balkrishna Industries, and Tata Elxsi as top stock picks for today:

Gold and silver prices surged to record highs on Tuesday, both domestically and internationally. This surge was attributed to an uncertain political and economic climate, a weaker dollar, and increasing industrial demand for silver. Analysts suggest that potential interest rate cuts by the US Federal Reserve could further fuel this upward trend in bullion prices.

The Indian rupee dipped to a one-month low against the dollar on Tuesday, closing at 90.98. This marks the fifth consecutive session of weakening, fueled by escalating geopolitical tensions and a downturn in domestic equity markets. Despite efforts to prevent a record low, persistent dollar demand and global uncertainty continue to pressure the currency.

Inspira Global, owner of Chinese Wok, is acquiring Restaurant Brands Asia (RBA), the operator of Burger King India. This significant deal sees Everstone Capital exiting RBA with a Rs 460 crore stake sale. Inspira plans substantial capital infusion, aiming to bolster its presence in the fast-growing quick-service restaurant sector and expand its brand portfolio.