economic times

Bharat Forge, heavily reliant on the US auto sector, faces potential headwinds from new import duties. Vice-Chairman Amit Kalyani acknowledges possible near-term demand issues but remains optimistic about resolving the situation with American buyers. If talks fail, the company will explore opportunities in Europe, leveraging FTAs.

Anandamayi, daughter of Kushagra Bajaj, has joined the Bajaj Group. She will work as general manager for strategy. Anandamayi recently graduated from Columbia University. She will collaborate with leadership teams. The Bajaj Group has interests in sugar, ethanol, power, and personal care. Other family members are also involved in the larger Bajaj enterprise. The group […]

Gokaldas Exports anticipates significant business losses due to the potential 50% US tariff on Indian goods, deeming it an 'embargo.' Managing Director Siva Ganapathi outlines strategies like shifting focus to European markets and reducing capacity to combat the disadvantage.

India-origin AI startups are attracting significant early-stage funding from global investors like Redpoint Ventures and Khosla Ventures. These homegrown startups, including GigaML and Atomicwork, demonstrate early monetization potential with a global-first approach. The AI-native deals reflect growing confidence in their scalability and global relevance, commanding premium valuations.

Wall Street braces for a potential pullback as US inflation data looms, testing the market's record-breaking rally. Strategists caution that valuations are stretched amid tariff risks and seasonally weak months. Stronger-than-expected inflation could dampen expectations for aggressive Fed rate cuts, while escalating trade tensions continue to cast a shadow over the economic outlook.

India's passport has improved in the Henley Passport Index, granting access to over 60 nations without prior visas. Asian countries like Singapore, Japan, and South Korea lead the rankings, while the US and UK have declined. Indians can easily visit many African and South-East Asian countries.

The Reserve Bank of India (RBI) has proposed standardised forms and a uniform process for settling claims related to deceased customers' bank accounts, lockers, and safe custody items. A 15-day settlement deadline is proposed, with compensation for delays. The new guidelines aim to simplify procedures, bring uniformity across banks, and improve customer service, with implementation […]

JM Financial Credit Solutions will sell a 2.1% stake in its home loans subsidiary to Bajaj Allianz Life Insurance for ₹65.5 crore. The deal, expected to close by August 31, will reduce JMFCSL’s holding in JM Financial Home Loans from 8.98% to 6.88%. Consequently, JM Financial’s stake in the home loans unit will decrease to […]

Agriculture Minister Shivraj Singh Chouhan will digitally transfer ₹3,200 crore in crop insurance claims to 30 lakh farmers under PMFBY at an event in Rajasthan. The Centre has simplified claim settlements, penalizing delays from states and insurers. Since 2016, PMFBY has disbursed ₹1.83 lakh crore against ₹35,864 crore in premiums, showcasing a farmer-friendly policy.

Malaysia Airlines views India as a key market, generating significant revenue and passenger volume. The airline aims to be a core service provider connecting India globally, focusing on increased flight frequency and connectivity rather than new destinations in the immediate future. They are also investing heavily in customer experience enhancements.

Gold prices are expected to rise further due to macroeconomic uncertainty, trade tensions, and central bank buying. Analysts are closely monitoring upcoming economic data releases and Federal Reserve officials' speeches for insights. Tariff escalations and a weaker dollar are also contributing factors, potentially driving gold to new highs in both international and domestic markets.

The Indian stainless steel industry wants anti-dumping duties. They are concerned about cheap imports. These imports come from countries like China and Vietnam. The industry body has asked for an investigation. They aim to protect domestic companies. The industry feels this is urgent due to global trade issues. India's stainless steel imports have increased recently.

Willy Chavarria, a US designer, expressed regret over an Adidas sandal design. The design allegedly copied a traditional Oaxacan pattern. Mexican authorities complained about the 'Oaxaca slip-on' sandals. They claimed it was a reworked version of the huarache. Mexico plans to seek compensation from Adidas. This case highlights concerns about fashion brands using indigenous designs […]

Nobel laureate Abhijit Banerjee suggests India reassess Russian oil imports due to increased US tariffs, potentially impacting $27 billion in exports. He proposes leveraging trade negotiations with the US and China, including reconsidering investment restrictions. Banerjee also advises exploring ASEAN membership while acknowledging China's greater importance, and expresses concerns about India's economic growth and middle-class […]

The Confederation of Indian Industry (CII) proposes comprehensive land reforms, including a GST-like council for coordinated policy and standardized stamp duty rates between 3-5% nationwide, to enhance India's manufacturing competitiveness. CII advocates for integrated land authorities in each state and complete digitization of land conversion processes.

Punjab National Bank aims to sell over 100 NPA accounts to ARCs, targeting recoveries of 40-50% and a total business of Rs 30 lakh crore by FY26. The bank is focusing on profitable growth, aiming for 11-12% credit growth and 9-10% deposit growth, while streamlining corporate lending and boosting MSME and agriculture sectors.