European Union leaders on Saturday warned US President Donald Trump against using tariffs as leverage in his bid to acquire Greenland, cautioning that such measures could severely damage transatlantic relations.This comes as Trump said that from February 1, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland would face a 10 per […]
Amid plans to induct Noel’s son, Tata trust cancels meet
MUMBAI: The Sir Ratan Tata Trust (SRTT) cancelled its Saturday board meeting, which was expected to consider the induction of chairman Noel Tata’s son, Neville Tata, as a trustee. In contrast, board meetings of Sir Dorabji Tata Trust (SDTT) and Tata Education and Development Trust (TEDT) proceeded as scheduled.The cancellation suggests that Neville’s appointment may […]
EU, Mercosur bloc ink major trade deal, reject ‘tariffs’ and ‘isolation’
ASUNCION: South American and European Union officials on Saturday signed a major trade deal, which they hailed as sending a powerful message at a time of tariff threats, global uncertainty and protectionism.The deal between the 27-nation European Union and Mercosur bloc members Brazil, Argentina, Uruguay and Paraguay creates one of the world’s largest free trade […]
ICICI profit dips 4% as RBI flags agri loans; CEO gets 2-year extension
Mumbai: An RBI-directed reclassification of the bank’s agri loan portfolio led to ICICI Bank reporting a 4% year-on-year decline in net profit to Rs 11,318 crore for the quarter ended Dec 2025. The bank’s board also reappointed Sandeep Bakhshi for a further two years starting Oct 2026, 19 months before he turns 70 – the […]
Trade policy rethink: GTRI calls for tariff overhaul; simpler customs to cut costs and lift exports
India needs a comprehensive overhaul of its import tariff structure and customs administration to reduce trade costs, improve manufacturing competitiveness and revive export growth, think tank Global Trade Research Initiative (GTRI) said on Saturday, PTI reported. In a report titled A Blueprint for Modernizing India’s Import Tariffs and Customs Regime, GTRI recommended a gradual move […]
Trade breakthrough: EU, Mercosur sign landmark free trade pact; 25-year negotiations end amid global tariff tensions
The European Union and the Mercosur on Saturday formally signed a long-awaited free trade agreement, closing more than 25 years of negotiations and creating one of the world’s largest integrated trading zones.The agreement was signed in Asunción, marking a significant geopolitical win for the EU at a time of intensifying global trade frictions, rising tariffs […]
History of India’s Union Budgets – Some Budgets that became blueprints for institutional change
NEW DELHI: The Budget is not just an economic document or an annual statement of accounts of the central government – it’s the road map that sets the tone and direction of economic reforms and growth. It also signals policy direction to citizens, businesses and investors, shaping confidence and long-term economic outcomes. Over the last […]
Merchandise exports: CRISIL sees stronger headwinds; US trade risks keep outlook cautious
India’s merchandise exports are likely to face intensifying pressure in the coming months as uncertainty over the proposed US-India trade deal persists and concerns grow over possible additional US levies linked to India’s crude oil purchases from Russia, ratings firm CRISIL said.In its latest assessment, CRISIL warned that near-term stress could emerge in select agri-export […]
US-China trade: China pares US Treasury exposure to 17-year low; steps up gold accumulation
China has pushed its holdings of US government debt down to their lowest level in nearly two decades, underscoring a steady recalibration of its foreign exchange reserves away from dollar assets and towards gold and overseas investments amid strained ties with Washington, PTI reported.Data released by the US Department of the Treasury shows that China’s […]
Trade realignment: Donald Trump tariffs push allies to hedge bets; China steps into gaps left by US
US President Donald Trump’s aggressive and unpredictable tariff strategy is beginning to redraw global trade alignments, with long-standing US partners actively seeking alternatives — and China emerging as a key beneficiary.Canada delivered the clearest signal yet of this shift on Friday, cutting its 100% import tax on Chinese electric vehicles in exchange for sharply lower […]