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…
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…
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…
Financial Services Secretary M Nagaraju has asked the Life Insurance Corporation of India (LIC) to sustain its push on digital marketing and a mobile-first strategy to help achieve the national objective of “insurance for all”.Speaking at LIC’s strategy meet in Mumbai, Nagaraju said the insurer’s expanding digital outreach would be critical to widening coverage and…
US President Donald Trump threatened multiple European countries with 10% tariff as he escalated his bid to take control of Greenland. The 47th POTUS said that starting February 1, eight European countries will face a 10% levy on goods sent to the US.In a lengthy statement posted on social media, Trump accused Denmark and other…
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…
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…
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…
MUMBAI: ICICI Bank reported a year-on-year decline of 4.02% in net profit to Rs 11,317.9 crore for the quarter ended Dec 31, 2025, weighed down by a sharp rise in provisions, even as core operating performance remained steady. Profit also fell 8.42% sequentially from Rs 12,358.9 crore in the previous quarter.Announcing the results, the bank’s…
MUMBAI: HDFC Bank reported an 11.46% year-on-year increase in net profit to Rs 18,653.75 crore in Q3 FY26 from Rs 16,735.50 crore a year earlier, on the back of treasury profits with loan growth and stable asset quality supporting earnings, even as operating costs rose sharply.On a sequential basis, profit was largely flat, inching up…