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WTO’s credibility, survival at risk as trade war looms: Experts

The credibility and survival of the World Trade Organization (WTO) is under “serious threat” as major economies put up protectionist barriers. The report issued by the Bertelsmann Foundation comes amid a deepening trade dispute between China and the United States which has engulfed other major trading partners.  US President Donald […]

Midcap, smallcap stocks keep off peaks

The benchmark equity indices may well be trading near record highs but the overall market is still showing signs of weakness as there has hardly been any corresponding rise in the vast midcap and smallcap universe. On Monday, when the benchmark Sensex lost 0.60%, all the broader indices lost more […]

India becomes 6th largest economy

India has become the world’s sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017. India’s gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France.  India’s economy rebounded strongly from July 2017, after several quarters of […]

Walmart assures tax compliance in Flipkart deal

The tax authorities had written to the world’s biggest retailer on India’s provisions and that it could approach the department for any clarification. Walmart has told the Indian tax authorities it will pay the taxes that are due on its acquisition of Indian e-commerce company Flipkart. Flipkart has already responded to […]

China says tit-for-tat tariffs will ‘destroy’ US-China trade

China on Wednesday said tit-for-tat tariffs will “destroy” trade between the world’s top two economies, after Washington fired the next shot in a ballooning trade war, readying fresh levies on $200 billion in Chinese goods.  Assistant minister of commerce Li Chenggang told the outburst of large-scale mutual levying of tariffs […]

E-commerce majors now spot big business opportunity in luxury fashion segment

India’s e-commerce companies are trying to crack the nascent premium and bridge-to luxury segment, after making a significant dent in fashion and lifestyle products. Reliance’s, which is known for its own labels and brands such as Levi’s jeans to Puma shoes, has over the months added a host of […]

US Says To Slap Tariffs On Extra $200 Billion Of Chinese Imports

  The Trump administration raised the stakes in its trade war with China, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports. US officials released a list of thousands of Chinese imports the administration wants to hit with the tariffs, including hundreds of […]

Arun Jaitley hints at rationalising GST rates as revenues surge

 India implemented GST on July 1last year and is looking at rationalizing goods and services tax (GST) rates as the year-old indirect tax regime stabilizes, finance minister Arun Jaitley said, even as he dismissed the idea of a single rate that Congress president Rahul Gandhi has called for. Jaitley added […]

Rupee hits record low of 69.01 against US dollar

The rupee on Thursday opened at an all-time low of 68.89 against the US dollar. It further lost ground to breach the 69 level for the first time. This was the lowest closing for home currency since November 24, 2016, when it had settled at 68.73.  Rising crude oil prices, trade war […]

US jobless claims rise, first quarter growth slows

The US economy slowed more than estimated in the first quarter amid the weakest consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and tax cuts.  Gross domestic product increased at a 2 percent annual rate in […]