American consumers became less confident of the US economy in August, as worries over the jobs market continuing to mount for the eighth month in a row.Figures released on Tuesday by the Conference Board showed that its consumer confidence index slipped to 97.4 in August from 98.7 in July, a 1.3-point decline. The reading, though…
Toshihiro Suzuki after PM Modi launched the export programme of Maruti Suzuki India’s first electric vehicle e VITARA Japanese car manufacturer Suzuki Motor Corporation, on Tuesday, announced plans to invest Rs 70,000 crore in India over the next five to six years to enhance its operations in the country, as said by Representative Director and…
India’s readymade garment industry is bracing for a tough fiscal ahead, with revenue growth forecast to slow to just 3-5% over the period, nearly half the pace seen last year.This slowdown hurt credit indicators for industry players and led to weaker profitability, according to a recent report by Crisil Ratings. PM Modi’s Defiant ‘MAKE IN…
Top IT service firms in the country are diversifying beyond the core US market, opening new centres and making acquisitions in Australia, the Middle East, the Nordics and India.With technology spending on the rise in these geographies, software service providers are setting up nearshore centres to meet local demand and cushion themselves from US market…
The Asian Development Bank is set to finance improvements to Pakistan’s railway infrastructure, taking over from China following extended delays in securing Chinese funding that risked affecting a crucial mining venture, according to sources quoted by Reuters.The initial plan for renovating 1,800 km of railways was a key component of China’s $60 billion investment initiative…
HDFC Bank, India’s largest private sector lender by market value, experienced a technical price adjustment on Tuesday as its shares commenced trading ex-bonus on the NSE and BSE, following the implementation of its 1:1 bonus share distribution.The bank’s decision to issue one additional equity share for every existing share was intended to enhance trading liquidity…
Global stock markets were shaken on Tuesday following a series of announcements by US President Donald Trump including threats to impose new export controls and tariffs along with the highly unusual firing of a central bank official. In Asia, Hong Kong’s Hang Seng was down 1.18% or 304 points, slipping to 25,524. Nikkei too, dipped…
How will Trump’s 50% tariffs impact the Indian industry? Which sectors will be the most hit? US President Donald Trump-led administration has notified that 25% additional tariffs on India’s exports to the US will be effective August 27. This takes the total tariffs applicable on India to 50%, among the highest faced by major countries…
Banks across several states will remain closed on Wednesday, August 27 on account of Ganesh Chaturthi. According to the Reserve Bank of India’s (RBI) holiday calendar, banks in Gujarat, Maharashtra, Bengaluru, Odisha, Tamil Nadu, Telangana, Goa and Andhra Pradesh will not be operational for the day. While physical branches will remain closed, customers can continue…
Diamond jewellery, textile and marine product exporters are rushing to clear US orders via air and sea before August 27, when President Trump’s proposed 25 per cent additional tariff on Indian imports takes effect. Over the past week, exporters completed pending US orders mainly through sea transport, while using air cargo—despite higher costs—for final consignments…