US President Donald Trump announced new 25% tariffs on all steel and aluminium imports into the country, marking a significant escalation in his trade policy. Speaking to reporters aboard Air Force One en route to the NFL Super Bowl, Trump revealed that the official announcement will come on Monday.
India
India left China behind in gold purchase
The demand report said that “by far the biggest contributor to the weakness in volumes has been China.” On an annual basis, a review of past gold demand reports shows that India’s gold demand was higher than China’s for the first time since 2012.
Ratan Tata, Whose Indian Business Empire Went Global, Dies at 86
Ratan Tata, one of India’s most powerful and admired industrialists who transformed his family’s business conglomerate, the Tata Group, into a multinational corporation with globally recognised brands, died in Mumbai on Wednesday. He was 86.
Bank of Baroda surges after global business grows over 10% in Q1 FY25
Bank of Baroda (bob) bank advanced 2.47% to Rs 251.10 after the global business of the bank aggregated to Rs 25,06,809 crore as of 30 September 2024, up by 10.23% from Rs 22,74,148 crore as on 30 September 2023.
Adani Power inks BTA to acquire ADTPS
ADTPS supplies power under a long-term power purchase agreement (PPA) to the Mumbai power distribution circle of Adani Electricity Mumbai.
IEX tumbles on market coupling buzz
Market coupling is a model where buy bids and sell bids from all power exchanges in the country will be aggregated and matched to discover a uniform MCP.
The Lure of Profit: How India’s Banks’ Recklessness May Lead to Disaster
India’s banks spent most of the last decade out in the wilderness, as a punishment for the lax underwriting standards on their corporate loans. Now they have regained their health, restored profitability and reestablished investors’ trust. The benchmark Nifty Bank Index is close to an all-time high. With everything going well, the lenders should be turning cautious. But recent full-year results show an opposite trend: Provisions for future loan losses are beginning to decline. This may not be prudent.
Digital Gold Firm Plans Metal Leasing for India’s Jewelers
Digital Gold Firm Plans: After giving Indians the option to buy gold online for as little as 10 rupees (12 cents), digital gold provider SafeGold is planning to let its customers lease their metal to credit-starved small jewelers.
India Has Few Things To Do Before Global Bond Inclusion: Finance Minister
- India moving towards being included in global bond indexes.
- It’s a question of doing quite a few things before it can happen.
- We are in the process of doing that, I hope to do it at the earliest.
India Sells Rs 24,000 Crore Of Bonds As Planned: RBI
India sold Rs 24,000 crore ($3.2 billion) of bonds at a weekly auction as planned, the Reserve Bank of India said in a statement.