India’s GDP growth could fall below 6.2% in 2025-26 if the 25% tariff imposed by the US remains in effect beyond September, S&P Global Market Intelligence warned in a report released Friday. The ratings agency had earlier projected India’s GDP at 6.2% for FY26, already a decline from 6.5% in FY25, and said the forecast…
NEW DELHI: The sluggishness in the car industry was evident as wholesale deliveries in July — ahead of the festive season of Onam and Ganesh Chaturthi — were muted with top makers such as Tata Motors, Hyundai, Toyota and Honda reporting a decline in dispatches (year-on-year) with Maruti reporting flat numbers.Mahindra & Mahindra and Kia…
Amazon shares slumped nearly 7% on Friday after the company’s cloud business, Amazon Web Services (AWS), posted slower growth than rivals Microsoft and Alphabet, prompting fresh concerns over its positioning in the AI-driven cloud race.AWS revenue rose 17.5% in the June quarter, narrowly beating Wall Street estimates, but trailing far behind Microsoft Azure’s 39% growth…
Exxon Mobil and Chevron on Friday reported their lowest second-quarter profits in four years, as lower global energy prices and a surge in oil supply from OPEC+ weighed on revenues. However, both US oil giants still managed to beat Wall Street’s earnings expectations, driven by higher production volumes.Texas-based Exxon Mobil posted a net profit of…
India’s foreign exchange reserves rose by $2.703 billion to $698.192 billion during the week ended July 25, according to the Reserve Bank of India’s latest data released on Friday.This increase comes after a decline of $1.183 billion in the previous reporting week, when total reserves had slipped to $695.489 billion, PTI reported.The latest uptick was…
India’s gross Goods and Services Tax (GST) collection rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July 2025, helped by higher domestic revenues, according to data released by the finance ministry on Friday.The gross GST mop-up in July 2024 stood at Rs 1.82 lakh crore, while the June 2025 collection was Rs…
Experts widely view Trump’s tariff move as a pressure tactic to get India to agree to US terms. The US decision to impose 25% tariffs will have minimal effect on India, sources told PTI. India is clear that duty exemptions for agricultural, dairy and genetically modified (GM) products in trade agreements is a no-go area,…
India’s manufacturing sector achieved a 16-month peak of 59.1 in July, driven by increased orders and output amidst positive market conditions, according to a Friday survey report.The HSBC India Manufacturing Purchasing Managers’ Index increased to 59.1 in July from June’s 58.4, indicating the sector’s strongest performance since March 2024.For PMI measurements, readings above 50 indicate…
The cryptocurrency market saw a sharp downturn on Friday, with Bitcoin slipping below $115,200 amid fresh US tariffs and widespread profit-taking that triggered large-scale liquidations. Bitcoin was trading at $115,149, down 3 per cent, while Ethereum dropped 5.5 per cent to $3,663 at 12.30 pm IST, according to CoinMarketCap data cited by Economic Times. The…
Amazon delivered a strong fiscal second quarter, with both profit and revenue surging year-over-year, even as trade uncertainty from tariffs by US President Donald Trump loom over the global business climate. For the quarter ended June 30, the tech giant reported net income of $18.16 billion, or $1.68 per share, up from $13.49 billion, or…
