European Commission President Ursula von der Leyen said on Sunday that the EU will continue holding off on retaliating against US steel and aluminium tariffs, as negotiations remain underway to avoid wider 30% duties.“The United States has sent us a letter with measures that would come into effect unless there is a negotiated solution, so…
India’s merchandise trade gap is estimated to have narrowed slightly to $20.7 billion in June 2025, down from $21.9 billion in May, according to a report by Union Bank of India (UBI). The modest improvement was largely driven by lower crude oil prices, subdued gold imports, and a change in sourcing strategies that helped buffer…
NEW DELHI: Costa Coffee, the British coffee chain, reported a significant increase in its India operations, with revenue climbing 30.76% to Rs 198.5 crore in FY25, while profit increased by 28.4% to Rs 149.7 crore.The company expanded its presence from 179 to 220 outlets in FY25, contributing to this growth, as detailed in Devynai International…
NEW DELHI: Markets ended the week with over 1% losses, dragged down by ongoing global tariff uncertainties and a weak start to the first-quarter earnings.Despite a stable start, across the first three sessions, selling pressure in final sessions pulled both the Indian benchmark indices BSE Sensex and Nifty50 near weekly lows. Sensex dropped 689.81 points,…
US President Donald Trump has sent letters to 23 trading partners this week, including Canada, Japan, Brazil, and others — threatening blanket import tariffs ranging from 20% to 50%. The move, part of a renewed aggressive trade stance, also includes a 50% duty on copper imports.The letters outline that the proposed 30% general tariff would…
This is a representative AI image NEW DELHI: Mercedes-Benz India is set to increase vehicle prices by 1–1.5% in September to offset the impact of the weakening rupee against the euro, Managing Director and CEO Santosh Iyer said.“There is another price hike coming up in September, because of the euro. If you see, the last…
This is a representative AI image NEW DELHI: NLC India, a state-owned enterprise, is in advanced negotiations with a Russian government-backed entity to secure lithium supplies from its mine in Africa, marking a key step in securing critical minerals for India’s energy transition.This initiative is crucial as India implements strategies to secure consistent lithium supplies…
NEW DELHI: Walmart-owned Flipkart has announced a $50 million employee stock buyback plan that will benefit approximately 7,000–7,500 employees. The move comes as the ecommerce major prepares for a potential IPO filing next year.The buyback will allow employees to liquidate up to 5% of the stock options vested between July 6, 2022, and July 5,…
IIFL Home Finance has secured $100 million (approximately Rs 858 crore) in financing from the Asian Infrastructure Investment Bank (AIIB) to expand access to affordable housing loans and promote green building standards, the company said in a release on Saturday.The funds will be used to support home loans for families from economically weaker sections (EWS)…
India will begin domestic production of rare earth magnets in Hyderabad in a bid to reduce reliance on Chinese imports and strengthen its position in critical technology manufacturing, Union Coal and Mines minister G Kishan Reddy said on Saturday.Speaking to ANI, Reddy said the Centre has tasked the National Institute for Transforming Science and Materials…