Canada’s economy shrank at an annualised pace of 1.6% in the second quarter as exports took a hit from tariffs imposed by US President Donald Trump, Statistics Canada said on Friday. This marked the country’s first GDP contraction in seven quarters.The agency also revised down its first-quarter growth estimate from 2.2% to 2.0%, underscoring the…
Zydus Wellness Ltd on Friday announced that its wholly-owned subsidiary, Alidac UK Ltd, will acquire UK-based Comfort Click for GBP 239 million, marking the company’s first international acquisition and entry into the vitamins, minerals, and supplements (VMS) segment. The deal also includes Comfort Click’s three subsidiaries in Ireland, the US, and India.Comfort Click, which operates…
Union coal and mines minister G Kishan Reddy said on Friday that India has signed an agreement with Japan in the mineral resources sector as part of efforts to build and diversify critical mineral supply chains.The memorandum of cooperation, signed between India’s Ministry of Mines and Japan’s Ministry of Economy, Trade and Industry (METI), was…
The Centre on Friday increased usage charges for gunny bags by 40% to Rs 10.22 per used bag, a step aimed at easing the financial burden of states and Union Territories while ensuring smoother procurement operations.Union food and consumer affairs minister Pralhad Joshi said in a statement that the “Government of India has increased usage…
Stocks retreated on Wall Street on Friday, pulling back from their latest all-time highs, after fresh inflation data showed prices largely holding steady. The S&P 500 fell 0.5% a day after notching a record high and remains on track to end August with a nearly 2% gain, its fourth consecutive month of advances.The Dow Jones…
Chief Economic Advisor V Anantha Nageswaran on Friday said India’s economy is expected to grow between 6.3% and 6.8% in FY26, adding that high US tariffs are unlikely to cause any significant downside risks. He stressed that the tariff impact will be temporary and will not derail India’s growth momentum.Impact of high US tariffs to…
Gold rate today: Gold prices in the national capital surged Rs 2,100 to an unprecedented Rs 1,03,670 per 10 grams on Friday, extending gains for the fourth straight session. Dealers said persistent buying by stockists, a weaker rupee, and heightened global uncertainties lifted the yellow metal to a fresh peak.Gold of 99.9% purity, which had…
India’s fiscal deficit touched 29.9% of the full-year target at the end of July, data released by the Controller General of Accounts (CGA) on Friday showed.The gap between government expenditure and revenue was significantly higher compared to the same period last year, when the fiscal deficit stood at 17.2% of the Budget Estimates (BE) of…
The rupee on Friday tumbled past the 88-per-dollar mark for the first time, finishing the day at an all-time closing low of 88.19 (provisional). The sharp fall of 61 paise came amid escalating trade frictions with the US, month-end dollar demand and sustained foreign fund withdrawals.Dealers said the currency was under continuous stress after Washington…
Indian consumers are set to benefit from a significant easing in the Goods and Services Tax (GST) structure, as the government plans to reduce tax slabs and lower rates on several key items. The proposed overhaul will simplify the current four-tier structure into a two-tier system, aiming to make goods more affordable and boost consumption.The…
