India has called on BRICS member and partner countries to strengthen economic cooperation by promoting trade in local currencies, linking payment systems and building more resilient supply chains amid growing global economic uncertainty. External Affairs Minister S. Jaishankar, addressing the BRICS Business Forum in New Delhi, said the grouping needs greater economic resilience while remaining...
Asian stock markets traded mixed on Tuesday as investors assessed the latest escalation in US economic pressure on Iran, while oil prices remained relatively stable after a sharp decline in the previous session. Market participants were also looking ahead to several potentially significant economic and corporate developments in the United States later this week. The...
The United States has imposed a new 50% tariff on approximately $20 billion worth of Canadian goods after last-minute negotiations between Washington and Ottawa failed to produce a trade agreement. The move has sharply escalated tensions between the two countries and prompted Canadian Prime Minister Mark Carney to announce plans for dollar-for-dollar retaliation. The new...
The United States has officially implemented a fresh round of tariffs on imports from Brazil, marking another significant step in President Donald Trump’s aggressive trade policy aimed at reshaping America’s economic relationships with key trading partners. The move comes as the administration prepares to announce additional trade measures affecting several countries, reinforcing its broader strategy...
Pakistan has reportedly approached the United States with a proposal for a $10 billion exchange facility aimed at reinforcing its foreign exchange reserves and enhancing the country’s financial stability. The move comes as Islamabad continues to navigate persistent economic challenges, including pressure on its external accounts, currency volatility, and the need to maintain sufficient foreign...
Global oil prices could climb sharply in the coming months if disruptions to crude shipments through the strategically vital Strait of Hormuz continue, with Brent crude potentially rising above $120 a barrel by the fourth quarter, according to a Goldman Sachs assessment. The projection comes amid heightened geopolitical tensions in the Middle East and growing...
A proposed sanctions bill targeting Russia has sparked growing debate among economists, policymakers, and financial analysts over its potential impact on the global economy. While the legislation is designed to increase pressure on Moscow over its continued military actions and international conduct, experts believe the measure could also produce unintended consequences for the United States...
A bipartisan group of 60 United States senators has expressed support for a proposed legislation that seeks to impose sweeping tariffs of up to 100% on imports from countries that continue purchasing Russian oil and other energy products. The move, if enacted, could significantly affect global trade relationships and place additional economic pressure on nations...
Former Reserve Bank of India (RBI) Governor Raghuram Rajan has been selected to serve on an important advisory task force established by the United States Federal Reserve, marking another significant milestone in his distinguished career as one of the world’s leading economists. Along with Rajan, two other eminent Indian-origin economists have also been appointed to...
The United States has announced that it will impose a 25% tariff on a broad range of imports from Brazil beginning July 22, marking a significant escalation in trade tensions between the two nations. The decision represents one of the most serious economic measures taken by Washington against Brazil in recent years and is expected...