Business News - Page 3
Hormuz, chokepoints and crude: The strait that could shake the global economy
The collapse of the US-Iran ceasefire has transformed the Strait of Hormuz into the world’s most volatile maritime flashpoint, with profound implications for global energy security, trade, and geopolitical stability.
RBI proposes stricter data governance norms for banks, NBFCs
Draft framework lays down regulatory expectations on data governance, quality, architecture and third-party data sharing as financial sector becomes increasingly digital.
PM Modi to flag off India’s first hydrogen-powered train, marking a new era in green rail mobility
The 10-coach hydrogen fuel cell train, capable of carrying around 2,600 passengers, will begin operations between Jind and Sonipat on July 17, showcasing India's push towards clean transportation and indigenous railway technology.
PM Modi hails record auto sales as India's passenger vehicle dispatches surge 26% in Q1
Prime Minister says milestone reflects India's manufacturing strength as SIAM reports highest-ever first-quarter sales across passenger vehicles, two-wheelers, commercial vehicles and three-wheelers
Israel looks to India’s airport expertise after Guwahati, Navi Mumbai terminals win global praise
Israeli Ambassador Reuven Azar praised India’s airport transformation after Guwahati and Navi Mumbai airports featured among the World’s Most Beautiful Airports 2026, saying he hoped Indian companies would contribute to airport projects in Israel
Trump targets Brazil with 25% tariff, accuses Lula government of unfair trade practices
The Trump administration has announced a 25 per cent tariff on certain Brazilian imports under Section 301, accusing President Luiz Inacio Lula da Silva's government of unfair trade practices after year-long negotiations failed
Fed's Lisa Cook reaffirms 2% inflation goal as price risks overtake employment concerns
Fed Governor says the US economy remains resilient, but persistent inflation—not the labour market—is now the central bank's biggest policy challenge.
E20 fuel lands in court: Vehicle owner wins compensation over alleged engine damage
A Chhattisgarh consumer court has ordered a vehicle manufacturer and dealer to compensate a car owner who alleged E20 petrol caused engine problems. The ruling comes amid ongoing debate over ethanol-blended fuel safety
Fed sounds alarm as soaring fuel costs force Americans to cut non-essential spending
The US Federal Reserve has warned that soaring fuel prices are forcing Americans to cut back on non-essential spending, while businesses remain optimistic about economic growth despite lingering inflation and energy cost concerns ahead of the central bank's July policy meeting
Heads or tails, it’s Trump: US unveils $1 coin featuring president’s face
The US Treasury has unveiled a commemorative $1 coin featuring Donald Trump as part of America’s 250th anniversary celebrations. The coin, set for release this fall, has sparked debate over rules barring living presidents from appearing on US currency
Russia asks India for more gasoline supplies after Ukraine attacks hit refinery capacity: Report
Russia has approached Indian refiners for more gasoline supplies after Ukrainian strikes disrupted a major share of its refining capacity, Reuters reported. Moscow is facing one of its worst fuel shortages, with nearly 40 per cent of refining capacity potentially offline
India’s Sun Pharma gets South Africa nod for generic semaglutide after Novo Nordisk patent expiry
India’s Sun Pharma has received South Africa’s approval to launch a generic semaglutide injection after Novo Nordisk’s patent expiry, intensifying competition in the Ozempic and weight-loss drug market
Swiggy, HPCL launch doorstep LPG cylinder delivery via Instamart, first for India's quick-commerce sector
Swiggy and HPCL have launched India's first quick-commerce LPG cylinder delivery service through Instamart. The pilot begins in Bengaluru, allowing customers to order 5-kg and 10-kg cooking gas cylinders without an existing HP Gas connection
India raises export tax on diesel, jet fuel by Rs 7/litre as crude prices spike; cuts petrol levy
India has raised windfall taxes on diesel and jet fuel exports by Rs 7 per litre each while cutting the levy on petrol exports, as surging crude oil prices amid the escalating US-Iran conflict boost refining margins
UK Covid report: Boris Johnson govt wasted £10 bn on PPE procurement, finds probe
The UK Covid Inquiry says Boris Johnson-era PPE buying lacked planning, transparency, and preparedness, leaving taxpayers with nearly £10 billion in wasted protective equipment.
India-UK FTA cuts whisky duty, but Scotch may not get cheaper immediately: Experts explain why
The India-UK FTA has reduced import duty on Scotch whisky from 150 per cent to 75 per cent, with further cuts planned over the next decade. However, industry experts say consumers may not see an immediate drop in retail prices as state excise duties, registration charges, distribution margins and other costs continue to influence the final price of imported whisky bottles
Why China is betting on electric taxis to hedge against Hormuz oil risks
As tensions around the Strait of Hormuz reshape global energy markets, China's rapidly expanding fleet of electric taxis is helping cut fuel demand, reduce oil imports, and cushion the economy against crude price shocks.
India-UK FTA kicks in today: Nearly 99% of Indian exports get duty-free access to UK market
India-UK FTA comes into force, giving nearly 99 per cent of Indian exports duty-free access to the UK market while reducing costs for Indian professionals through a social security agreement
India investment isn't a burden, it's an opportunity: Envoy on how New Zealand may gain from FTA
Envoy says investment in India creates long-term value, points to Japan and South Korea's success; calls the trade pact a "tremendous opportunity" for both nations.
SK Hynix shares surge 13% as AI optimism and easing US inflation reignite chip rally
South Korean chipmaker leads a broad semiconductor rally after softer US inflation data boosts risk appetite, while analysts see AI-driven memory shortages supporting earnings through 2027.
Scotch, cars and chocolates: What gets cheaper as the India-UK FTA kicks in?
The India-UK Comprehensive Economic and Trade Agreement (CETA) comes into effect from today (July 15). The deal opens one of the world’s largest consumer markets to Indian exporters while making several British products, such as Scotch whisky, premium cars, cosmetics, chocolates and select food products, cheaper for buyers at home
IBM sees worst one-day stock crash in 60 years: Five reasons behind the massive sell-off
IBM shares plunged 25 per cent in their worst one-day fall in nearly 60 years after the company cut its outlook, blamed missed deals and said customers are shifting technology spending towards AI infrastructure and cybersecurity
Pakistan Stock Exchange plunges over 6,000 points as US-Iran conflict escalation rattles investors
Pakistan's benchmark KSE-100 index tumbled more than 6,000 points as escalating US-Iran military tensions in West Asia triggered panic selling across banking, energy and cement stocks
India gets relief as US Senate cuts proposed Russia sanctions tariff from 500% to 100%
India gets a breather as US senators revise a Russia sanctions bill, cutting the proposed tariff on major buyers of Russian energy from 500 per cent to 100 per cent while retaining pressure on Moscow
China’s Q2 GDP growth hits slowest pace since 2022 as economic recovery loses steam
China’s Q2 GDP growth slowed to 4.3 per cent, the weakest pace since late 2022, as weak domestic demand, a property downturn and global oil shock pressures weighed on economic recovery
India bans imports of goods made using forced labour, strengthens trade rules as US tariffs loom
India prohibited the import of goods produced using forced labour, a move aimed at tightening trade rules and addressing concerns raised by the United States ahead of a possible tariff action against countries accused of failing to prevent such imports
Japan's economy shows mixed picture as factories stay strong but services slow
Japan's manufacturers remained optimistic in July due to strong semiconductor and AI demand, while service-sector confidence fell amid higher costs, a weak yen and geopolitical tensions
India's disability economy could fuel jobs, innovation and a $150 billion market: Report
India could unlock a $150 billion disability-linked market by treating accessibility as an economic growth strategy, according to a Deloitte India-EnAble India report. The study says greater inclusion can drive jobs, innovation and productivity, while Chief Economic Adviser V. Anantha Nageswaran called the Purple Economy a major opportunity for businesses and policymakers
India gets its first monthly Services Production Index; hospitality, retail lead April growth
MoSPI launches monthly Services Production Index to track formal services economy with 2024-25 as the new base year
US inflation cools to 3.5% in June, biggest monthly CPI drop since 2020 lifts Wall Street
Cooling inflation boosts hopes of a Fed pause as consumer prices post the biggest monthly decline since May 2020.