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…
Reliance Industries Ltd (RIL) on Friday announced a joint venture with social media major Meta, with an initial investment of about Rs 855 crore ($100 million), to build and scale artificial intelligence technology solutions for business organisations.RIL also unveiled a partnership with Google for artificial intelligence, aimed at setting up AI-ready data centres in India….
India is examining the possibility of WTO consultations with the US regarding Washington’s copper import tariffs. This potential action would be India’s third instance of seeking such discussions with the US, following previous cases involving steel and aluminium, and automotive sectors under the WTO Agreement on Safeguards.Beginning August 1, the US implemented a 50% tariff…
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…
Mukesh Ambani outlined five transformative contributions by Jio. (AI image) Reliance Jio IPO: At Reliance Industries’ 48th Annual General Meeting, Chairman and Managing Director Mukesh Ambani said that Jio is preparing for its initial public offering (IPO), targeting a listing in the first half of 2026.The announcement comes with the caveat that it remains contingent…
The United States has moved to end its long-standing de minimis tariff exemption for small international packages, eliminating duty-free entry for imports valued at $800 or less. The change, effective Friday, August 29, follows an executive order issued last month and comes nearly two years earlier than the original Congressional timeline. It is expected to…
Ambani’s comments come at a time when the Donald Trump administration is waging a trade war, with India faced with a 50% US tariff. Reliance Industries Chairman Mukesh Ambani on Friday said that India’s rise is unstoppable. Ambani was addressing Reliance shareholders at the company’s Annual General Meeting. “Despite geopolitical uncertainty, one truth is crystal…
PM Modi at India-Japan Economic Forum Prime Minister Narendra Modi on Friday said India and Japan are poised to jointly influence the Asian century’s trajectory towards stability, growth and prosperity. He made the remarks while addressing the India-Japan Economic Forum during his two-day visit to Tokyo.“In India, capital doesn’t just grow, it multiplies. You are…
Indian refineries, alongside their Asian counterparts, have increased their orders when US crude. (AI image) Indian refiners have stepped up their purchase of US oil in August, as competitive prices have enhanced the appeal of American crude. The move comes at a time when the Donald Trump administration has imposed 50% tariffs on Indian goods…
Piyush Goyal at Bharat Buildcore curtain raiser Union commerce and industry Minister Piyush Goyal on Friday said India would not compromise its self-respect in trade negotiations. His comments come at a time when India has been hit by 50% US tariffs and trade deal negotiations between the countries have hit a stalemate.“If any country wants…
