The US Supreme Court ruled that President Donald Trump cannot legally use emergency powers under the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The decision blocks part of his trade strategy but does not end his trade war.The ruling mainly affects “reciprocal tariffs,” which Trump announced last April in the Rose Garden. These…
As weekend approaches, bank customers need to verify the holiday calendar before visiting branches, as bank closures in India depend on national holidays, state-specific festivals, and the weekly schedule mandated by the Reserve Bank of India (RBI). While some Saturdays are working days, others are designated holidays, making it important to confirm branch availability in…
The US Supreme Court on Friday struck down many tariffs imposed by Donald Trump, ruling that a key emergency law he relied on does not give presidents the authority to impose such duties. The 6–3 decision was a major defeat for Trump and a relatively rare instance of the court checking his efforts in a…
Mumbai: Foreign exchange reserves rose by $8.66 billion to a record $725.73 billion in the week ended Feb 13, reflecting valuation gains in gold and non-dollar foreign currency assets amid global market volatility and a softer US dollar.Gold reserves rose by $4.99 billion to $128.47 billion following a surge in international gold prices. The increase…
US President Donald Trump on Thursday signed a proclamation imposing a 10 per cent temporary import surcharge on most goods entering the United States, after the Supreme Court deemed the tariffs imposed on different countries “illegal”.Thereafter, invoking emergency powers under Section 122 of the Trade Act of 1974 to address what he described as “fundamental…
M Nagaraju, Secretary, Department of Financial Services Mumbai: Govt is keeping a watch on the geopolitical situation in West Asia and is taking stock of India’s exposure in the region in case of conflict, said finance secretary M Nagaraju, while discussing external challenges facing banks and the economy. He also said that govt is looking…
NEW DELHI: Prime Minister Narendra Modi will hold talks with Brazilian President Luiz Inacio Lula da Silva in New Delhi on Saturday, with a focus on strengthening cooperation in critical minerals, boosting trade ties, and advancing strategic supply chain partnerships. The visit comes amid India’s push to reduce dependence on China, which dominates global rare…
NEW DELHI: India will pay a 10 per cent tariff “until another authority is invoked,” the White House said on Friday, after US President Donald Trump signed an executive order imposing a 10 per cent tariff on imports from all countries, news agency ANI reported.This comes after the US Supreme Court delivered a stunning rebuke…
In a sharp rebuke to his trade agenda, US President Donald Trump lashed out at the Supreme Court of the United States on Friday after it struck down his sweeping global tariffs, calling the decision “ridiculous” and accusing some justices of undermining the country’s economic interests.In a strongly worded response, Trump said those members of…
Mumbai: Nearly three years after splitting from its Silicon Valley parent Sequoia Capital, Peak XV Partners (formerly Sequoia Capital India and Southeast Asia) has raised $1.3 billion for a clutch of funds to bet on startup founders building in India and the Asia-Pacific region. The capital will be deployed across three funds-India seed, India venture…
