Global merchandise trade is projected to grow 0.9% in 2025, helped by a surge in US imports ahead of sweeping tariff hikes, but the World Trade Organization (WTO) warned that the impact of higher duties will hit hard in 2026.In its latest forecast, the WTO revised next year’s trade growth estimate down to 1.8%, from […]
Tariff war: US average duty hits 20.1%, highest since 1910s; WTO & IMF warn of global trade rollback
The average US tariff rate has climbed to 20.1%, its highest sustained level since the 1910s, according to new estimates released by the World Trade Organization (WTO) and the International Monetary Fund (IMF) on Friday. The sharp rise follows fresh duties that took effect Thursday, as part of President Donald Trump’s continued push for “reciprocal” […]
Currency watch: Rupee ends flat at 87.58 as dollar weakens, FIIs turned net buyers amid looming US tariff deadline
The rupee pared early losses and ended flat at 87.58 against the US dollar on Friday, supported by a weaker greenback and a return of foreign fund inflows, even as escalating trade tensions with the US kept market sentiment under pressure.Forex traders said the Indian currency moved in a narrow range during the session, amid […]
Forex watch: India’s reserves drop $9.32 bn to $688.87 bn this week, led by decline in foreign currency assets & gold
India’s foreign exchange reserves fell by $9.322 billion to $688.871 billion for the week ended August 1, marking one of the steepest weekly declines in recent months, according to data released by the Reserve Bank of India (RBI) on Friday.In the previous reporting week, reserves had risen by $2.703 billion to touch $698.192 billion, PTI […]
Tata Motors Q1 results: Net profit drops 62% to Rs 4,003 crore on lower volumes and JLR tariff hit; revenue slips to Rs 1.04 lakh crore
Tata Motors reported a sharp 62.2% year-on-year drop in consolidated net profit to Rs 4,003 crore for the June quarter (Q1 FY26), hurt by volume decline across segments, a fall in Jaguar Land Rover earnings, and the absence of a large one-time gain booked last year.In Q1 FY25, the company had posted a net of […]
New Income-Tax Bill 2025: Why has Centre withdrawn the bill from Lok Sabha? Revised draft to reflect parliament panel suggestions
The Union government has formally withdrawn the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961,.A fresh version of the Bill, incorporating most of the recommendations made by the Select Committee chaired by BJP MP Baijayant Panda, is scheduled to be tabled in the […]
Boost for Ujjwala beneficiaries: Govt approves Rs 30,000 crore payout to OMCs for LPG losses; move aims to ensure stable supply
NEW DELHI: In a major relief to public sector oil firms, the Cabinet on Friday approved a Rs 30,000 crore compensation package to offset their losses from selling domestic LPG below cost amid elevated international prices.The package will be paid to Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) in […]
India’s auto retail slips 4.3%: Passenger vehicles, two-wheelers’ sales decline in July; tractor segment bucks trend with 11% growth
Retail sales of vehicles across categories in India declined 4.31 per cent year-on-year to 1.96 million units in July, reflecting weak consumer sentiment on a high base. While tractor sales posted strong double-digit growth, passenger vehicles and two-wheelers saw declines, and commercial vehicle sales remained largely flat. Robust rainfall and substantial crop sowing boosted tractor […]
Gold rate today: Gold prices surge to over Rs 1.02 lakh per 10 grams; what’s the outlook?
Gold rate today: Market experts attribute the upward movement in precious metals to risk-averse investment strategies and global economic uncertainty. (AI image) Gold rate today: MCX gold October futures reached a historic peak of Rs 1,02,191/10 grams on Friday, influenced by uncertainties surrounding US trade tariffs and increased purchases by global central banks seeking safe-haven […]
Elon Musk’s Starlink to store data in India: Government sets strict routing rules; licence to provide satellite services secured last month
The data collected by Starlink’s satellite internet operations in India, including network information and traffic details, will be stored within the country, as stated by Communications Minister of State Chandra Sekhar Pemmasani in Parliament on Thursday. He clarified in the Rajya Sabha that domestic user traffic will remain within national boundaries and won’t be copied […]