The rupee on Friday tumbled past the 88-per-dollar mark for the first time, finishing the day at an all-time closing low of 88.19 (provisional). The sharp fall of 61 paise came amid escalating trade frictions with the US, month-end dollar demand and sustained foreign fund withdrawals.Dealers said the currency was under continuous stress after Washington…
Reliance Industries Ltd (RIL) on Friday announced a joint venture with social media major Meta, with an initial investment of about Rs 855 crore ($100 million), to build and scale artificial intelligence technology solutions for business organisations.RIL also unveiled a partnership with Google for artificial intelligence, aimed at setting up AI-ready data centres in India….
The United States has moved to end its long-standing de minimis tariff exemption for small international packages, eliminating duty-free entry for imports valued at $800 or less. The change, effective Friday, August 29, follows an executive order issued last month and comes nearly two years earlier than the original Congressional timeline. It is expected to…
PM Modi at India-Japan Economic Forum Prime Minister Narendra Modi on Friday said India and Japan are poised to jointly influence the Asian century’s trajectory towards stability, growth and prosperity. He made the remarks while addressing the India-Japan Economic Forum during his two-day visit to Tokyo.“In India, capital doesn’t just grow, it multiplies. You are…
Piyush Goyal at Bharat Buildcore curtain raiser Union commerce and industry Minister Piyush Goyal on Friday said India would not compromise its self-respect in trade negotiations. His comments come at a time when India has been hit by 50% US tariffs and trade deal negotiations between the countries have hit a stalemate.“If any country wants…
US ends exemptions on parcel imports under $800 (AI image) The US ended its $800 tariff exemption for package shipments on Friday, introducing a transitional period of six months where postal service shippers may choose to pay a fixed duty between $80 to $200 per package, based on the country of origin, according to Trump…
Chris Wood further observed that India’s ongoing Russian oil purchases have become a major point. (AI image) The Donald Trump administration’s move to impose 50% tariffs on India is ‘draconian’, according to Jefferies’ emerging markets strategist Chris Wood, who believes that the step will lead to a direct hit of $55-60 billion.According to an ET…
Mumbai: RBI has said that persisting uncertainties related to India-US trade policies continue to pose downside risk while inflation outlook for the near term has become more benign than anticipated earlier. The central bank’s ‘state of the economy’ report has, however, maintained confidence in India’s growth outlook and not lowered the estimate of 6.5% announced…
Market experts indicate that supportive measures will provide stability to domestic markets despite international trade challenges. (AI image) Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in green on Thursday after a sharp decline in the last two trading sessions. While Nifty50 was above 24,500, BSE Sensex was up over 100…
Sanand: Semiconductor company CG Semi is expected to roll out the first ‘Made in India’ chip from its pilot facility here soon, union minister Ashwini Vaishnaw said on Thursday. CG Semi’s G1 or pilot facility was inaugurated by Vaishnaw along with Gujarat chief minister Bhupendrabhai Patel. “CG Pilot line has started today. It is a…