Russian and Iranian oil producers are offering deeper discounts to Chinese buyers as India reduces its purchases. Analysts note China's independent refiners are nearing capacity, leading to unsold oil piling up. This situation impacts Russia's war funding and Iran's export efforts amid geopolitical tensions.
US President Donald Trump's second term sees a mixed economic picture: strong growth and tech investment clash with stalled job gains and inflation worries. Supreme Court's tariff ruling adds uncertainty. While manufacturing output rises, factory jobs decline. Affordability remains a concern for households despite overall economic momentum.
Patent of key input to expire on March 20, pharma companies ready with generic versions
Bank appoints KPMG for forensic audit | CEO expects lender to remain profitable
Inconsistent policies in US seen as 'new normal'; companies fear buyers may seek discount review
IDFC First Bank reported a Rs 590 crore discrepancy in Haryana government deposits at its Chandigarh branch, suspending four employees. The bank has initiated a forensic audit and is working with other banks to recover funds. This disclosure follows Haryana's directive for departments to close accounts with specific private lenders due to suspected financial irregularities.
Prime Minister Narendra Modi will inaugurate the Meerut Metro and Namo Bharat RRTS on Sunday. This marks the full operationalisation of the 82-km Delhi-Meerut corridor. The integrated network promises faster travel between cities and within Meerut. It aims to reduce travel time significantly, boost connectivity, and lower carbon emissions.
Piyush Goyal said India is looking to broaden its sourcing of crude oil and coking coal and would welcome supplies of premium-quality coking coal from the United States.
Adani Group plans a massive $100 billion investment by 2035 to establish renewable energy-powered, AI-ready data centers across India. This initiative aims to foster a $250 billion AI infrastructure ecosystem, building on existing partnerships and expanding renewable energy capacity to support India's ambition as an AI hub.
US stocks saw mixed trading as consumer confidence dipped and AI's impact on earnings remained a concern. General Mills and Genuine Parts faced significant drops due to weak consumer sentiment and company forecasts. Meanwhile, Warner Bros. Discovery saw gains amid buyout talks, while Big Tech stocks experienced volatility, raising questions about AI investment returns.
India is offering agricultural quotas in an interim trade deal with the US, aiming for a March signing. Officials state these quotas are small and align with current imports, designed to boost Indian textile exports. The agreement, focusing on agricultural goods and potentially digital services, is being finalized in Washington.
Contrary to fears, generative AI isn't causing mass layoffs in India's IT sector. A new ICRIER-OpenAI study reveals AI is boosting productivity and transforming roles, not replacing workers. While entry-level hiring has seen a slight dip, mid and senior positions remain stable, indicating a shift towards skill enhancement rather than job elimination.
Over Rs 72,000 crore in unclaimed bank deposits, untouched for a decade, have been transferred to the RBI's Depositor Education and Awareness Fund. Public sector banks hold the largest portion. The government has launched UDGAM to help people trace their money and introduced measures to prevent further accumulation, aiming to boost financial literacy.
Brands are introducing protein-rich products to meet growing health consciousness in India. Starbucks now offers protein-infused cold foam for iced drinks. This move aims to integrate wellness into daily routines. A standard iced coffee already contains significant protein, and the added foam boosts it further. Starbucks is also providing zero-sugar options. This trend targets health-aware consumers who value their lifestyle.
Tata Steel expects domestic steel prices to rise this quarter, while its CFO highlights margin protection amidst a challenging year. The EU's carbon border tax is seen as a positive for Tata Steel's European operations, leveling the playing field for carbon costs.
Dalal Street anticipates a strong opening on Monday as the US-India trade deal nears completion. Positive sentiment is fueled by Gift Nifty's rise and recent constructive developments, including agreement on bilateral trade areas. Analysts foresee increased exports, job creation, and potential foreign investment, boosting market confidence after a volatile week.
The income tax department has released draft rules aimed at simplifying tax filing and compliance for individuals and companies, effective April 1. These rules emphasize faceless assessments and reduced disputes, with simplified language and redesigned forms for easier taxpayer understanding. The draft is open for public feedback until February 22.
The RBI is set to introduce new rules to protect bank customers. Small digital fraud victims could receive up to Rs 25,000 compensation. Stricter guidelines will also target mis-selling of financial products and aggressive loan recovery practices. These measures aim to enhance consumer safety amidst growing cyber risks and unfair sales tactics.
In the Budget, FM Nirmala Sitharaman had proposed to provide a tax holiday till 2047 to any foreign company providing cloud services to customers globally by using data centre services from India. It will, however, need to provide services to Indian customers through an Indian reseller entity. Officials said profits on the income from domestic economic activities will remain taxable as any other domestic company.
The UK govt did not conclude a bilateral investment treaty, or arrangements in relation to legal services, new market access for financial services, or final arrangements for mutual recognition of professional qualifications, and India did not get “as much on the mobility issues as it would have liked”, the report says.
The US will reduce tariffs on most Indian goods to 18% from 50% as part of a new trade agreement, aiming to address the large trade deficit. India has agreed to cut tariffs on a range of US products, including industrial goods, wine, and spirits, to zero. Sensitive Indian agriculture and dairy sectors remain protected under the deal.
With this deal, India bags a place among countries facing one of the lowest tariff rates from the Donald Trump administration. Incidentally, the 18% tariff rate is lower than Pakistan’s 19%, Indonesia’s 19%.
Russian and Iranian oil producers are offering deeper discounts to Chinese buyers as India reduces its purchases. Analysts note China's ...
