INDIAN ECONOMY
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Indian banks and insurers will launch a common customer identification system in August, with asset managers joining later, two regulatory sources and industry executives said, allowing customers to access financial products without separately submitting identification documents.
The new system, known as C...
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Traders have stopped offering discounts on Russian crude sold to India as disruptions to Middle Eastern supplies have boosted demand for alternative grades, the head of finance at Indian state refiner Bharat Petroleum Corp said on Thursday.
Refiners in India, the world's third-biggest oil importer and consum...
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The United States on Thursday introduced new tariffs of 10% and 12.5% on imports from several countries under Section 301. India has been placed in the lower 10% tariff slab, instead of the higher 12.5% that was being considered earlier.
The Office of the US Trade Representative (USTR) announced new tariff...
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India’s private sector activity slowed sharply in July. The HSBC Flash India PMI Composite Output Index fell to 54.3 in July from 57.1 in June, marking the slowest expansion in private sector activity since March 2022.
Services PMI Business Activity Index also dropped to 53.1 in July from 57.4 in June, its...
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From 9:31 am on Friday, Indian exporters will receive a significant tariff relief in the US market as the 10% Section 122 import surcharge expires. However, if the US extends this levy or imposes another set of tariffs under Section 301 of the Trade Act overnight, then exporters will have to make different ad...
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MARKET & FINANCE
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Japan's core consumer inflation accelerated in June but stayed below the Bank of Japan's 2% target for the fifth consecutive month, underscoring that companies are yet to fully pass higher input costs on to consumers, according to government data, as per a Reuters report.
The core consumer price index (CPI...
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Japanese investors sold foreign bonds at the fastest pace in nearly three months in the week ended July 18 as rising oil prices rekindled inflation concerns and reinforced expectations that global interest rates could remain elevated for longer, according to Reuters, citing data released by Japan's Ministry o...
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First Abu Dhabi Bank PJSC is offering funding up to $1.5 billion to non-resident Indians investing in their home country’s foreign-currency deposit program, according to people familiar with the matter.
The United Arab Emirates’ largest lender is targeting customers based in the Middle East and is in tal...
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GLOBAL CORPORATE
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The Pentagon announced on Thursday a nearly $7 billion, up-to-10-year agreement with Oracle to consolidate the department's on-premises software licenses into a single contract, the latest move by the Pentagon's technology chief to cut costs by eliminating fragmented purchasing.
The Enterprise Software Agr...
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Vietnam faces higher U.S. tariffs than peers and risks a further erosion of competitiveness in the clothing sector, as the largest exporter of apparel to the U.S. is excluded from a mechanism that could cut U.S. duties on some textile imports.
The decision, included in a Federal Register notice published o...
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Singaporean state investor Temasek is looking to increase its investments in defence as the war in Ukraine prompts European governments to boost military spending, a senior executive said....
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U.S. threats to sanction Chinese AI developers over alleged intellectual property theft and export-control violations risk unravelling efforts to establish a bilateral dialogue on AI safety, analysts say, just as increasingly powerful models raise concerns over serious security breaches.
U.S. officials on ...
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Banking
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India’s banking system liquidity is expected to peak in Q2FY27. This is due to strong inflows under the Reserve Bank of India’s Foreign Currency Non-Resident (Bank), or FCNR(B), deposit scheme to boost cash availability with banks. According to IDFC FIRST Bank, the FCNR(B) scheme is expected to attract more t...
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GLOBAL ECONOMY
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Japan's core consumer prices rose 1.6% in June from a year earlier, government data showed on Friday.
The core consumer price index, which includes oil products but excludes fresh food prices, compared with economists' median e...
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Japan's manufacturing activity remained broadly firm in July with output rising at its fastest rate since February 2014, while uncertainty about the Middle East situation continued to weigh on firms, a business survey showed on Fr...
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Inflation risks are high and the European Central Bank may need to raise interest rates once again, three policymakers said on Friday, but all stopped short of calling for an outright hike at the bank's next meeting in September....
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German consumer sentiment is set to dip slightly going into August as households remain cautious about spending amid more pessimistic income expectations, a survey found on Friday....
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Tariffs imposed on trading partners from the administration of U.S. President Donald Trump add more uncertainty to the world economy, said the Bank of France governor Emmanuel Moulin on Friday....
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France's private sector contraction eased in July, with services output slowing only marginally, although inflation, borrowing costs and geopolitics all remained concerns as tensions in the Middle East flare up again, a business s...
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Germany's private sector has returned to growth in July for the first time in four months, driven by a marked upturn in manufacturing output, a survey showed on Friday, although renewed conflict in the Middle East cast doubt over ...
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Renewed hostilities in the Gulf have revived stagflation talk, dimming hopes the interim deal between the U.S. and Iran had come in time for the world economy to avoid elevated inflation alongside stagnant economic growth....
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The number of Americans seeking unemployment benefits for the first time unexpectedly fell last week to the lowest since the 1960s, indicating the US job market continues on an even keel and leaving Federal Reserve officials to ke...
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he escalation of war in West Asia after the collapse of ceasefire in early July has come as a shock to India’s export-import trade with shipping rates to key destinations doubling and availability of containers contracting sharply...
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INDIAN CORPORATE
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Suzlon on Thursday said it has secured a 201.6MW wind energy project order in Andhra Pradesh from Waaree Forever Energies.
Executed under the Suzlon DevCo model, the project marks a strategic milestone in both companies' evolut...
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Hindalco Industries will invest Rs 50,000 crore in India over the next three years across upstream and downstream businesses and is evaluating an additional Rs 50,000 crore of growth opportunities, creating a potential Rs 1 lakh c...
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ITC expects the addressable market for its fast-moving consumer goods (FMCG) business to touch Rs 8 lakh crore by 2035, betting on premiumisation, rising aspirations, digital commerce and evolving consumer preferences to drive its...
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Waaree Renewable Technologies (WRTL), part of the Waaree Energies group, is pursuing 11 GW of solar EPC (engineering, procurement and construction) orders in overseas markets, with most of the opportunities concentrated in West As...
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The Adani Group has denied having any plans to launch its own airline. The clarification came amid growing speculation that major airport operators GMR Group and the Adani Group were seeking approval to enter the airline business....
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Skoda Auto Volkswagen India said to financialexpress.com that there are no fresh talks on JSW Group acquiring a stake in the company. Responding to earlier media reports that the German carmaker Volkswagen is in advanced talks to ...
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Larsen & Toubro‘s heavy engineering arm has won a clutch of international orders spanning Africa, North America, South America and Europe, the company said in a stock exchange filing on Thursday, with the company classifying the c...
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Infosys on Thursday narrowed the upper end of its FY27 revenue growth guidance, signalling that macroeconomic uncertainty continues to weigh on client spending despite artificial intelligence (AI) becoming a larger contributor to ...
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IT major Infosys reported a 12% year-on-year rise in consolidated net profit at Rs 7,769 crore for the quarter ended June. The company's revenue from operations rose 14% on year to Rs 48,211 crore. Infosys trimmed the upper end of...
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COMMERCIAL LAW
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The government on Thursday allowed Foreign Direct Investment (FDI) in the inventory-based model of e-commerce for exports. This relaxation will allow large international e-commerce platforms to boost exports from India through thi...
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GST
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Marking a significant step towards strengthening the GST dispute resolution mechanism in Andhra Pradesh, Centre has launched Goods and Services Tax Appellate Tribunal (GSTAT) on Thursday. The two benches-Vijayawada and Visakhapatnam also commenced hearing appeals on the day of their inauguration, ensuring imm...
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SEBI
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Capital market regulator Sebi is planning to replace the mandatory 20% upfront margin requirement for cash market trades with a lower risk-based requirement linked to clearing corporation margins, easing fund requirements for inve...
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