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‘Masters in our own home’: Canada PM Carney explains why trade talks with US were suspended
Canadian Prime Minister Mark Carney Canada suspended trade talks with the United States on Saturday, citing that Washington had pushed for too many concessions in the final stages of negotiations, prompting Ottawa to recall its negotiators back home. Summing up Ottawa’s position, Prime Minister Mark Carney said, “We are masters in our own home.”He added…
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Luxury sales plunge in China as tax push hits rich shoppers
China’s luxury market slumps as tax crackdown on offshore wealth hits spending by the country’s richest consumers Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers. Sales at the…
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Collections under RBI’s dollar swap scheme exceed $72.8 billion
Indian banks raise $72.8 billion in foreign-currency funds under RBI’s special swap facility as forex inflows surge MUMBAI: Banks have mobilised $72.8 billion of foreign-currency inflows under RBI’s special swap facility as of Aug 21, with the pace of mobilisation accelerating sharply in recent weeks. Foreign currency non-resident (bank) or FCNR(B) deposits accounted for $65.4…
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Amrit Bharat 3.0: AC coaches with Vande Bharat-style features for common man soon. Why it matters
Up until now, the Amrit Bharat Express has been a non-AC long-distance passenger train. After upgrading train travel for the common man with Amrit Bharat Express, Indian Railways is now set to introduce air-conditioned coaches in the Amrit Bharat 3.0 Express, expected to be rolled out this financial year.Up until now, the Amrit Bharat Express…
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PM Modi meets CEOs of 20 space startups, ask them for wider applications of space tech to improve people’s lives
PM Modi urges wider use of space technology in agriculture, environment and other sectors as India’s private space industry targets major growth. NEW DELHI: PM Narendra Modi on Friday interacted with chief executive officers (CEOs) and founders of 20 space startups, including India’s leading companies Skyroot Aerospace, Agnikul Cosmos, Pixxel, Dhruva Space, GalaxEye, PierSight, Bellatrix…
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India Nbfc Growth: NBFCs stay on growth track as asset quality remains stable: Report
Pressure on lending yields and margins will remain key monitorables (file photo) India’s non-banking financial companies (NBFCs) are likely to maintain steady growth in the near to medium term, with credit demand remaining healthy despite geopolitical uncertainties, according to brokerage firm 360 ONE Capital.The brokerage said management teams have retained their FY27 and medium-term growth…
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Meta Legal Challenge: 29 states vs Meta: How a landmark child safety trial could reshape Facebook and Instagram
The lawsuit alleges that Meta designed and monetised Facebook & Instagram to encourage compulsive use among young people (representative image) Meta is facing a landmark legal challenge in the US that could have far-reaching implications for how Facebook and Instagram are designed and operated, after 29 states accused the company of deliberately creating products that…
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Tariffs alone don’t guide investment calls: Aditya Birla
Aditya Birla addresses tariff and investment concerns NEW DELHI: Amid concerns over low private sector investment, Aditya Birla Group chairman Kumar Mangalam Birla Friday said the corporate sector was undertaking capital expenditure at a very fast pace.He said RBI data pointed to growth in bank loans to the corporate sector, which are evenly spread between…
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Informal sector establishments up 9%
Informal sector sees strong Q1 growth, with women making up nearly one-third of its 13.7 crore workforce NEW DELHI: The informal sector, which constitutes major part of the economy, registered robust growth in Q1 (April -June) of the current financial year as number of establishments in the sector grew 9% (y-o-y) to 8.7 crore from…
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US-Canada trade standoff: 50% tariff kicks in as Ottawa vows ‘dollar-for-dollar’ response
Carney has ordered his trade negotiators to come back after suspending all negotiations with US The United States called the collapse of three days of intensive trade talks with Canada a “missed opportunity”, as Ottawa suspended negotiations and ordered its team to return, as Washington imposed 50 per cent tariffs on Canadian goods.US Trade Representative…