US tariffs not to hit India’s growth: S&P

US tariffs not to hit India’s growth: S&P NEW DELHI: Trump tariffs will not have any impact on India’s growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive, S&P Global Ratings director YeeFarn Phua said.In May last year, S&P had upgraded the outlook on India’s sovereign…

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Ikea eyes India sourcing beyond textiles

IKEA has opened its first store in West Delhi at Pacific Mall (File photo) MUMBAI: Global trade wars have pushed companies to speed up the diversification of their supply chains and India will be key to Ikea’s sourcing strategy where it is expanding beyond textiles to build supply capabilities in plastic, metals, and furniture, said…

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Banking charges: SBI to levy nominal fee on IMPS transfers above Rs 25,000 from August 15, corporate rates from September 8

The State Bank of India (SBI) will introduce nominal charges on Immediate Payment Service (IMPS) fund transfers above Rs 25,000 made through online channels starting August 15, according to details posted on its website.The country’s largest lender clarified there will be no change in charges for IMPS transfers conducted at branches, PTI reported. For online…

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Debt alarm: US national debt hits record $37 trillion, pace doubles with trillion added every five months

The US government’s gross national debt has crossed $37 trillion, setting a new record that underscores the growing strain on the country’s finances and adding to the cost pressures facing taxpayers, according to the latest Treasury Department report issued Tuesday.The milestone has arrived years earlier than pre-pandemic forecasts. In January 2020, the Congressional Budget Office…

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Currency watch: Rupee climbs 16 paise to 87.47 against US dollar, crude slide and Fed cut hopes lift sentiment

The rupee appreciated 16 paise to end at 87.47 against the US dollar on Wednesday, buoyed by a weak greenback and positive sentiment in domestic equity markets. Traders said easing crude oil prices and cooling inflation further supported the local currency, although uncertainties over trade tariffs and persistent foreign fund outflows capped sharper gains.At the…

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Festive sparkle lifts exports: Gem and jewellery shipments jump 15.98% to $2.18 bn in July, Hong Kong rebound aids growth

Strong order bookings at the India International Jewellery Show (IIJS) Premiere and a recovery in the Hong Kong market pushed India’s gem and jewellery exports up 15.98% year-on-year to $2,178.24 million (Rs 18,756.28 crore) in July, according to data from the Gem and Jewellery Export Promotion Council (GJEPC).Exports in July 2024 stood at $1,878.09 million…

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Tencent earnings surge on AI boost, Q2 revenue up 15% as gaming sales jump 35% amid global competition

Chinese internet giant Tencent on Wednesday posted its third straight quarter of double-digit revenue growth, beating market forecasts, as it accelerated the rollout of artificial intelligence (AI) features across its gaming portfolio and flagship WeChat app.Shenzhen-based Tencent, which operates the multi-functional WeChat platform and is a major global gaming player, also has significant operations in…

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