Premier Li Qiang announced China will forgo developing nation benefits at the WTO, a move welcomed by Director-General Ngozi Okonjo-Iweala. This decision comes amid shifting export patterns due to US tariffs and aims to potentially improve trade relations with the US.
JSW Motors, owned by Sajjan Jindal, is investing ₹26,000 crore to enter the Indian passenger vehicle market with a focus on EVs and plug-in hybrids. The company is in discussions with BYD and other Chinese automakers for technology and platform access, aiming for significant localization.
The UAE-India Business Council (UIBC) has forged strategic agreements to bolster industry collaboration and expand trade between India and the UAE. These pacts aim to enhance institutional cooperation under the CEPA, boost services exports, and leverage regional strengths. These initiatives are expected to unlock new opportunities and strengthen the economic future of both nations.
US Energy Secretary Chris Wright has urged India to reconsider its Russian oil imports, emphasizing the availability of alternative sources and alleging that these purchases fund the war in Ukraine. He highlighted the potential for stronger US-India energy and trade cooperation, stating America’s willingness to sell oil and end the conflict.
Nirmala Sitharaman launched the Goods and Services Tax Appellate Tribunal. It aims to resolve tax disputes and build trust. Hearings will start in December. The tribunal will also handle advance rulings. The goal is to create a fair and efficient system. Appointments to the tribunal have been finalized. This initiative promises ease of living for…
American stock markets saw slight increases on Wednesday. This happened after a strong period of growth. The S&P 500 and Nasdaq also went up a bit. Lithium Americas stock jumped high because of possible US government investment. Cintas stock went down even with good profit reports. Overseas markets showed mixed results. Bond market rates saw…
Iran’s rial plummeted to a record low against the US dollar as President Pezeshkian prepared to address the United Nations. This decline occurred after Supreme Leader Khamenei dismissed direct talks with the US regarding Iran’s nuclear program, diminishing diplomatic prospects. The announcement suggests that last-ditch negotiations with European nations are unlikely to prevent the reinstatement…
China has declared it will no longer seek special treatment as a developing nation in future WTO negotiations, a move hailed by the WTO as a step towards a fairer global trade system. Premier Li Qiang stated this decision reflects China’s responsibility and commitment to addressing challenges within the multilateral trading system.
Indian IT stocks experienced a decline for the third consecutive day. This downturn is attributed to worries surrounding a sharp increase in US H-1B visa fees. The BSE IT index saw a drop. Several major IT companies, including Mastek, Wipro, TCS and Infosys, experienced losses. The broader market also felt the impact, with both the…
India and the US are engaged in ongoing trade discussions, with Minister Piyush Goyal currently in the US alongside key officials. These talks follow recent meetings in New Delhi regarding a proposed bilateral trade agreement, aiming for a swift and advantageous conclusion.
