Iran’s rial reached an unprecedented low against the US dollar on April 5, 2025, trading at over 1 million rials for a single greenback. The dramatic depreciation of the currency follows the country’s return to work after the Persian New Year, Nowruz, when the exchange rate surged due to limited trading. As currency exchanges resumed…
US President Donald Trump on Saturday doubled down on his sweeping tariff policies, claiming that China has been hit “much harder” than the United States in the ongoing trade war between the world’s two largest economies. His remarks came a day after US stock markets tumbled, leading to concerns over a potential global recession.Taking to…
India’s leading manufacturers of mining and construction equipment, BEML Ltd has launched the indigenously designed Motor Grader BG 1205 at its Mysuru facility. This milestone emphasizes BEML’s strong commitment to self-reliance and aligns with the Government of India’s Atmanirbhar Bharat initiative.The BG 1205, equipped with a 24-foot blade, has been meticulously designed to cater to…
The trade war between the United States and China continues to intensify, with both countries ramping up tariffs and retaliatory actions. On April 4, 2025, China announced a series of countermeasures in response to President Donald Trump‘s imposition of 34% tariffs on all Chinese imports, according to AP. These measures include additional export controls on…
Donald Trump announced tariffs on exporters to the US, including 20% on the European Union and 24% on Japan. NEW DELHI: When US President Donald Trump held out a chart on reciprocal tariffs in White House’s Rose Garden, it clearly showed a 26% levy for all Indian goods.By the time the executive order was issued,…
NEW DELHI: Staring at a steep dent, exporters have asked govt to restore several benefits that have been stopped, such as the interest equalisation scheme and Remission of Duties and Taxes on Exported Products (RODTEP) for SEZ and export oriented units, while prioritising sectors that will be more adversely hit by Trump’s tariffs during the…
Global markets were rattled on Friday as US President Donald Trump’s aggressive tariff war triggered a massive sell-off, erasing more than $9 trillion in market capitalisation since his second-term inauguration on January 20. The Wall Street meltdown, the worst since the Covid -19 pandemic, sent shockwaves across global financial centres. The S&P 500 plunged nearly…
J P Morgan projected that the United States will slip into a recession by the end of 2025, attributing the decline largely to President Donald Trump’s newly announced reciprocal tariffs. The forecast comes days after Trump imposed sweeping duties on imports in a bid to rebalance trade ties, with further hikes targeted at countries with…
MUMBAI: The rupee briefly regained 84 levels to touch a 2025 high of 84.97 against the dollar on Friday as the greenback weakened globally before closing at 85.24, up 19 paise from Thursday’s close of 85.43. The strengthening of the rupee is expected to hurt exporters. The dollar index, which tracks the greenback’s movement against…
Donald Trump, Xi Jinping NEW DELHI: During their talks with negotiators from Asean, Indian officials are facing a China problem. Whenever they seek to offer any concessions as part of the review of the trade deal, they look at Chinese companies that have set up a base in the 10-member bloc.It’s a problem that is…
