EFTA Bloc nations pledged $100 billion investments in India under a new trade deal, with Switzerland seeking a bilateral investment treaty and Liechtenstein a double taxation avoidance agreement. Pharma giant Roche committed $1.8 billion, alongside other companies, as India offers duty concessions on most EFTA imports, balancing interests with firm investment commitments.
The US private sector unexpectedly shed 32,000 jobs in September, according to ADP, defying analysts’ growth expectations. Significant losses occurred in leisure, professional services, and financial activities, reflecting cautious employer hiring despite robust economic growth. Salaries increased 4.5% year-on-year, with pay gains for job-switchers slowing. This report emerges as the Federal Reserve closely monitors the…
The Supreme Court blocked Donald Trump’s immediate removal of Federal Reserve Governor Lisa Cook, ensuring she remains until January 2026 arguments. Trump accused Cook of mortgage fraud, but lower courts ruled her dismissal violated “for cause” requirements. This rare challenge to Fed independence highlights a broader legal battle over presidential authority to fire officials.
US stocks drifted on Wednesday. Job market signs caused investor caution. The S&P 500, Dow Jones, and Nasdaq saw declines. An ADP report showed job cuts in September. This report also revised August employment down. Treasury yields fell. A government shutdown may delay official job data. This created market uncertainty. Individual stocks performed differently. Cal-Maine…
IMF economist Shekhar Aiyar has been appointed as the new Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER). Aiyar, currently an Assistant Director in the IMF’s Research Department, will assume charge in November.
The Union Cabinet has approved a six-year, Rs 11,440 crore Mission for Aatmanirbharta in Pulses, aiming for self-sufficiency by 2030-31. This initiative will boost domestic production through improved seeds, area expansion, and 100% assured procurement of Tur, Urad, and Masoor. The program targets 350 lakh tonnes production, seeking to reduce import dependency and enhance farmer…
President Trump’s 100% tariff on foreign films will severely dent Indian cinema’s US revenues, comprising 40-60% of overseas earnings. Distributors anticipate hiking ticket prices, risking reduced audience footfalls and forcing smaller films to bypass US theatrical releases, significantly altering industry economics.
