Rupee hits record low, RBI intervention averts fall past 92

The Indian rupee hit ‍a record low against the dollar ​on Thursday, pressured by dollar demand linked to the maturity ⁠of non-deliverable forward positions and corporate hedging, while the central bank likely intervened to hold it above the psychologically significant 92 level.

Explained: Visa’s dual-hub strategy in Dubai and Riyadh as Saudi Arabia tightens the rules

Global payments giant Visa is restructuring its Middle East operations, creating dual hubs in Dubai and Riyadh. This strategic shift acknowledges Saudi Arabia's new 'regional headquarters' policy, which mandates local HQs for government contracts. The move reflects intensifying competition among Gulf states for foreign investment and economic influence, with Riyadh emerging as a significant corporate center.

Industry Trends

iQOO 15R Dark Knight Colour Option Confirmed: Expected Specifications, Features

iQOO 15R will be available for purchase in India in at least a Dark Knight colour option, the Vivo sub-brand announced on Thursday. The company also revealed the design of the handset, showing the handset with a plain rear panel. On the other hand, the blue colourway is teased to feature a chequered pattern on the back panel. The upcoming iQOO 15R is confirmed to be powered by a Snapdragon 8 Gen 5 chipset. It will feature a dual rear camera unit, housed inside a square-shaped module.