Asia’s richest man Mukesh Ambani has once again chosen to draw no salary from Reliance Industries, the oil-to-telecom-to-retail giant he heads, for the fifth consecutive year. Instead, dividend payouts remain his primary source of income, according to a PTI report.According to the latest annual report of Reliance Industries, Ambani, 68, received ‘nil’ salary, allowances, perquisites,…
Bank of England (Picture credit: AP) The Bank of England on Thursday trimmed its key interest rate by 25 basis points to 4 per cent, marking the fifth reduction since August 2024, as it seeks to support Britain’s slowing economy amid concerns over rising US tariffs and domestic tax hikes.The latest cut brings borrowing costs…
Shares of Intel tumbled down on Thursday after US President Donald Trump called for the company’s chief executive to resign, citing alleged conflicts of interest involving ties to China.The INTC was trading at $19.77, down 0.6 points or 3.1% at 10:53 PM IST.“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump wrote…
File photo: Ex-Niti Aayog CEO Amitabh Kant (Picture credit: PTI) Former G20 Sherpa and ex-Niti Aayog CEO Amitabh Kant has called the steep hike in US tariffs on Indian goods a “once in a generation opportunity” for India to push forward with long-pending economic reforms.Reacting to US President Donald Trump’s decision to double duties on…
NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
FICCI president Harsha Vardhan Agarwal on Thursday called for urgent and bold economic reforms to strengthen India’s industrial base and services sector, In response to the US imposing an additional 25% import tariff on Indian goods.The latest move from Washington takes the total tariff burden on Indian imports to 50%, sparking concerns across domestic export-facing…
Low-income Americans are pulling back on spending, often saying no to eating out, traveling, and even cutting back on basics like diapers, fizzy drinks, and beer, as import duties continue to push prices higher.In response, many fast-food chains are now offering cheaper, smaller meal bundles to keep demand steady.Researchers at Yale’s Budget Lab and the…
Foreign investors returned to Asian equities in July for the third month in a row, with Taiwan attracting its biggest inflow in nearly two decades and Thailand breaking a nine-month streak of outflows. The upbeat momentum was fuelled by growing interest in artificial intelligence, improved trade ties with the United States, and easing tariff concerns.Investment…
US President Donald Trump (AI image) A senior Indian diplomat on Thursday criticised the Donald Trump administration’s imposition of 50 per cent tariffs on Indian exports to the US, calling the move “unilateral” and lacking any “logic or reason”, even as he confirmed that bilateral trade negotiations between the two sides would continue.“This is a…
President Donald Trump has hit India with a 50% tariff on its exports to the US, punishing New Delhi for continuing to buy Russian crude. He accuses India of “funding Russia’s war machine” and vows more penalties if Prime Minister Narendra Modi doesn’t halt oil imports from Moscow.This follows Trump’s prior 25% tariff on Indian…
