Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) said the global market may be tighter than it seems, supported by strong summer demand. Meanwhile, concerns over new US tariffs and possible fresh sanctions on Russia also added upward pressure.Brent crude rose $1.72, or 2.5%, to settle at $70.36 per…
India-US trade deal: United States is working toward an interim trade agreement with India that could reduce proposed tariffs to below 20%. This would give India a more favourable position compared to other countries in the region.Unlike many nations, India is not expected to receive a formal tariff hike notice this week, and the agreement…
H D Kumaraswamy (File photo) NEW DELHI: Union minister H D Kumaraswamy on Friday launched the first scheme to provide customer facing incentives on purchase of electric trucks of up to Rs 9.6 lakh per vehicle as part of govt’s PM E-DRIVE initiative, which has earmarked Rs 500 crore for electric trucks out of its…
Tesla will open its first showroom in India on Tuesday and begin deliveries as early as next month, people familiar with the matter said, as the Elon Musk-led electric vehicle maker looks to tap potential demand in the third-largest automobile market to counter slowing sales elsewhere.The opening of the Mumbai showroom will mark the formal…
President Trump and his allies have accused the Federal Reserve chair, Jerome Powell, of misleading Congress in what some legal scholars worry is a prelude to seeking his removal. Source link
MUMBAI: The grocery bag of urban and rural shoppers is undergoing a divide. Urban Indians are gravitating towards unbranded products in select categories and are also experimenting with new-age brands, while rural consumers are taking to legacy FMCG brands. While there is a big market for unbranded goods in rural, it is losing out to…
NEW DELHI: The rise in UPI payments has helped reduce use of cash in India, a new paper by a team from IMF has said, while using proxies, such as cash withdrawal from ATMs and currency in circulation as a proportion of GDP.“Since its launch in 2016, UPI has grown quickly, while some proxies for…
A year ago, misdirected Amazon returns began arriving at Karen Holton’s house in California. Eventually, she said, they were stacked so high that she could not easily use her door. Source link
NEW DELHI: Growth in gross direct tax collections moderated to 3.2% in the fiscal year up to July 10, from 4.9% three weeks ago, driven by a slowdown in non-corporation tax. Latest data released by govt estimated gross collections of Rs 6,64,807 crore between April and July 10.Net direct tax collections – which means after…
Stripping hundreds of millions of dollars from renewable energy and efficiency initiatives is part of a broader move to undo efforts to wean the United States off fossil fuels. Source link
