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<p>The latest readings suggest that President Donald Trump’s higher import duties, part of his ongoing trade crackdowns are starting to work their way into consumer prices. Bloomberg notes that a separate measure of core services inflation remains tame for now, but economists expect gradual increases in the coming months. For the Federal Reserve, this creates a policy challenge. Officials have kept interest rates unchanged in 2025, seeking clarity on whether tariffs will cause sustained inflation. But they must also weigh signs of a cooling labour market, the other half of their dual mandate.</p><h2><strong>Consumers still spending, for now</strong></h2><p>Retail sales data due Friday is expected to show a solid July increase, boosted by incentives on vehicle purchases and online shopping spikes during Amazon’s Prime Day. However, Bloomberg reports that once adjusted for inflation, the figures may point to a more lacklustre consumer spending environment. Manufacturing data from the Fed is likely to show stagnant factory output as producers navigate shifting tariff rules. Meanwhile, a preliminary US–China trade truce is set to expire on Tuesday, although an extension remains possible.</p><h2><strong>Global markets eye central bank's move&nbsp;</strong></h2><p>Beyond the US, Bloomberg notes that the Bank of Canada will publish minutes from its decision to hold rates at 2.75 per cent for a third meeting, while leaving the door open for cuts if inflation remains contained. July home sales data will also indicate whether recent gains have continued. Asia’s economic calendar is packed, with China releasing July activity data, including industrial production, retail sales, and jobless figures on Friday. Australia’s central bank is expected to cut rates for a third time this year, while India’s CPI and wholesale price data will offer fresh insight into price trends before Trump’s 50 per cent tariff on Indian goods fully kicks in.</p><p>&nbsp;</p><p>In Europe, the UK will release wage growth and GDP figures in the wake of the Bank of England’s latest rate cut, while Switzerland’s economy may show a sudden contraction even before Trump’s 39 per cent tariff impact takes hold. Africa and Latin America will also see rate decisions and inflation reports, with Brazil, Argentina, and Chile updating price data, and Kenya, Uganda, and Namibia adjusting policy to manage growth and price stability.</p><p>&nbsp;</p><p>The coming week’s data, as per Bloomberg, will help clarify whether the US inflation uptick is temporary or the start of a broader trend. If tariffs continue to feed through to consumer prices, the Fed may face mounting pressure to act, even as global markets adjust to a wave of central bank decisions and shifting trade policies.</p><p>&nbsp;</p><p><i>(With input from the agencies)&nbsp;</i></p>

Trump 50% tariff on Indian goods and levies on other nations are reshaping global markets, from US inflation pressures to rate decisions in Asia, Europe, and Latin America. This week data will test how far the ripple effects go.

The latest readings suggest that President Donald Trump’s higher import duties, part of his ongoing trade crackdowns are starting to work their way into consumer prices. Bloomberg notes that a separate measure of core services inflation remains tame for now, but economists expect gradual increases in the coming months. For the Federal Reserve, this creates a policy challenge. Officials have kept interest rates unchanged in 2025, seeking clarity on whether tariffs will cause sustained inflation. But they must also weigh signs of a cooling labour market, the other half of their dual mandate. Consumers still spending, for now Retail sales data due Friday is expected to show a solid July increase, boosted by incentives on vehicle purchases and online shopping spikes during Amazon’s Prime Day. However, Bloomberg reports that once adjusted for inflation, the figures may point to a more lacklustre consumer spending environment. Manufacturing data from the Fed is likely to show stagnant factory output as producers navigate shifting tariff rules. Meanwhile, a preliminary US–China trade truce is set to expire on Tuesday, although an extension remains possible. Global markets eye central bank's move Beyond the US, Bloomberg notes that the Bank of Canada will publish minutes from its decision to hold rates at 2.75 per cent for a third meeting, while leaving the door open for cuts if inflation remains contained. July home sales data will also indicate whether recent gains have continued. Asia’s economic calendar is packed, with China releasing July activity data, including industrial production, retail sales, and jobless figures on Friday. Australia’s central bank is expected to cut rates for a third time this year, while India’s CPI and wholesale price data will offer fresh insight into price trends before Trump’s 50 per cent tariff on Indian goods fully kicks in. In Europe, the UK will release wage growth and GDP figures in the wake of the Bank of England’s latest rate cut, while Switzerland’s economy may show a sudden contraction even before Trump’s 39 per cent tariff impact takes hold. Africa and Latin America will also see rate decisions and inflation reports, with Brazil, Argentina, and Chile updating price data, and Kenya, Uganda, and Namibia adjusting policy to manage growth and price stability. The coming week’s data, as per Bloomberg, will help clarify whether the US inflation uptick is temporary or the start of a broader trend. If tariffs continue to feed through to consumer prices, the Fed may face mounting pressure to act, even as global markets adjust to a wave of central bank decisions and shifting trade policies. (With input from the agencies)

<p>As US tariffs push some prices higher, the Fed faces a tough call: act against potential inflation or hold rates amid signs of economic slowdown. Global markets brace for a week of key central bank moves and trade policy shifts.</p>

US inflation set to tick higher as Trump tariffs hit consumers

<p>India’s bid to close the gap with China’s stock market could be slipping further out of reach, thanks to the US President Donald Trump’s latest tariff escalation. India’s equity market now trails onshore China’s by $6.3 trillion, the widest gap since March, as per Bloomberg. The MSCI India Index has reportedly underperformed its Chinese counterpart by 10 percentage points this quarter and is heading for its biggest annual lag since 2017.</p><h2><strong>Tariffs hit India harder</strong></h2><p>President Trump announced a 50 per cent tariff on Indian exports to the US, half of which is effectively a penalty for India’s purchases of Russian oil. While New Delhi was singled out, China, which imports far more from Moscow has largely been spared. Beijing, according to Bloomberg, is instead waiting for an extension of its trade truce with Washington.This selective targeting has reportedly shaken investor sentiment towards India, already under pressure from high stock valuations and slowing earnings growth. Last month alone, foreign investors pulled about $3 billion from Indian equities, the biggest monthly outflow since February, as per Bloomberg data.</p><p>&nbsp;</p><p>Despite the near-term challenges, India’s growth prospects remain appealing. Morgan Stanley, as per Bloomberg, still sees Indian equities climbing to new highs over the coming decades, driven by population growth and infrastructure development. Veteran emerging-market investor Mark Mobius told Bloomberg TV that any market correction could be a buying opportunity, with the US tariff battle likely to have only a “short-lived” psychological effect. Domestic institutional investors have also stepped in, pouring about $50 billion into Indian equities, according to exchange data compiled by Bloomberg. Along with retail investors, they now control a bigger slice of the $5.2 trillion market than foreign funds, which could help cushion against sharp selloffs.</p><h2><strong>Wall Street tilts toward China</strong></h2><p>Global investment houses are taking note. Goldman Sachs, as quoted by Bloomberg, has maintained a “marketweight” stance on Indian equities while upgrading its 12-month target for Chinese stocks and keeping an “overweight” view on them.</p><p>&nbsp;</p><p>The reversal is striking. Just a few years ago, China was labelled “uninvestable” due to regulatory crackdowns and geopolitical risks, leading many funds to pivot towards India as a safer bet. Now, India faces its own set of headwinds: trade friction with the US, softer corporate earnings, and expensive valuations. Anna Wu, a cross-asset strategist at VanEck in Sydney, told Bloomberg that China’s shares are likely to outperform Indian peers in the coming quarters. She cited easing trade tensions in Beijing, government “anti-involution” policies, and advances in artificial intelligence, such as the DeepSeek breakthrough earlier this year, as factors supporting Chinese markets.</p><p>&nbsp;</p><p>Meanwhile, Beijing is not without its own troubles. UBS has delayed its forecast for a property market recovery after second-quarter sales weakened. While GDP growth exceeded expectations, deflation risks and sluggish consumer spending remain concerns. Yet for global investors, China’s market still offers access to high-growth sectors such as AI, clean energy, and biotech at more attractive price levels. Bloomberg notes that the MSCI India gauge trades at over 21 times its one-year forward earnings, compared to just 11.9 times for China’s equivalent index.</p><h2><strong>Trade rift could impact India’s manufacturing ambitions</strong></h2><p>The tariff escalation also threatens Prime Minister Narendra Modi’s goal of positioning India as a manufacturing alternative to China. As quoted by Bloomberg, Andrei Stetsenko of Farley Capital LP warned that Trump’s pressure campaign risks deepening Indian resentment, potentially damaging what had been a strengthening US-India partnership built on shared concerns over China.</p><p>&nbsp;</p><p>Until trade tensions ease, analysts like Nomura’s Chetan Seth expect Indian equities to remain sidelined in regional portfolios, with more foreign fund selling possible in the months ahead.</p><p>&nbsp;</p><p><i>(With input from the agencies)&nbsp;</i></p><p>&nbsp;</p>

Trump 50% tariff on Indian exports, partly over Russian oil, hits investor sentiment and threatens India’s manufacturing ambitions, while global funds shift toward cheaper Chinese equities.

India’s bid to close the gap with China’s stock market could be slipping further out of reach, thanks to the US President Donald Trump’s latest tariff escalation. India’s equity market now trails onshore China’s by $6.3 trillion, the widest gap since March, as per Bloomberg. The MSCI India Index has reportedly underperformed its Chinese counterpart by 10 percentage points this quarter and is heading for its biggest annual lag since 2017. Tariffs hit India harder President Trump announced a 50 per cent tariff on Indian exports to the US, half of which is effectively a penalty for India’s purchases of Russian oil. While New Delhi was singled out, China, which imports far more from Moscow has largely been spared. Beijing, according to Bloomberg, is instead waiting for an extension of its trade truce with Washington.This selective targeting has reportedly shaken investor sentiment towards India, already under pressure from high stock valuations and slowing earnings growth. Last month alone, foreign investors pulled about $3 billion from Indian equities, the biggest monthly outflow since February, as per Bloomberg data. Despite the near-term challenges, India’s growth prospects remain appealing. Morgan Stanley, as per Bloomberg, still sees Indian equities climbing to new highs over the coming decades, driven by population growth and infrastructure development. Veteran emerging-market investor Mark Mobius told Bloomberg TV that any market correction could be a buying opportunity, with the US tariff battle likely to have only a “short-lived” psychological effect. Domestic institutional investors have also stepped in, pouring about $50 billion into Indian equities, according to exchange data compiled by Bloomberg. Along with retail investors, they now control a bigger slice of the $5.2 trillion market than foreign funds, which could help cushion against sharp selloffs. Wall Street tilts toward China Global investment houses are taking note. Goldman Sachs, as quoted by Bloomberg, has maintained a “marketweight” stance on Indian equities while upgrading its 12-month target for Chinese stocks and keeping an “overweight” view on them. The reversal is striking. Just a few years ago, China was labelled “uninvestable” due to regulatory crackdowns and geopolitical risks, leading many funds to pivot towards India as a safer bet. Now, India faces its own set of headwinds: trade friction with the US, softer corporate earnings, and expensive valuations. Anna Wu, a cross-asset strategist at VanEck in Sydney, told Bloomberg that China’s shares are likely to outperform Indian peers in the coming quarters. She cited easing trade tensions in Beijing, government “anti-involution” policies, and advances in artificial intelligence, such as the DeepSeek breakthrough earlier this year, as factors supporting Chinese markets. Meanwhile, Beijing is not without its own troubles. UBS has delayed its forecast for a property market recovery after second-quarter sales weakened. While GDP growth exceeded expectations, deflation risks and sluggish consumer spending remain concerns. Yet for global investors, China’s market still offers access to high-growth sectors such as AI, clean energy, and biotech at more attractive price levels. Bloomberg notes that the MSCI India gauge trades at over 21 times its one-year forward earnings, compared to just 11.9 times for China’s equivalent index. Trade rift could impact India’s manufacturing ambitions The tariff escalation also threatens Prime Minister Narendra Modi’s goal of positioning India as a manufacturing alternative to China. As quoted by Bloomberg, Andrei Stetsenko of Farley Capital LP warned that Trump’s pressure campaign risks deepening Indian resentment, potentially damaging what had been a strengthening US-India partnership built on shared concerns over China. Until trade tensions ease, analysts like Nomura’s Chetan Seth expect Indian equities to remain sidelined in regional portfolios, with more foreign fund selling possible in the months ahead. (With input from the agencies)

<p>US tariffs have widened India’s stock market underperformance against China to the biggest gap in five months, as foreign investors retreat and Wall Street tilts toward Beijing.</p>

Trump tariffs threaten to widen $6.3 trillion gap between China and India markets

<p>The Canadian government announced on Friday that it would lower the price cap on Russian-origin seaborne crude oil as part of a coordinated effort with its allies to increase economic pressure on Russia over its continued invasion of Ukraine. The price cap for Russian oil will be reduced from $60 per barrel to $47.60, according to a statement from Canada’s Finance Department. This move aligns Canada with the European Union and the United Kingdom, both of which had made similar decisions in July. “By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia's illegal war,” Canadian Finance Minister Francois-Philippe Champagne said in the statement.</p><h2><strong>Targeting Russia’s oil revenues</strong></h2><p>The price cap is part of a broader strategy aimed at reducing Russia’s oil revenues, a key source of funding for its military operations in Ukraine. Since the start of the war in 2022, Western allies have imposed a series of sanctions on Russia to weaken its economy and limit its ability to finance its war efforts. By capping the price of Russian oil, these measures are designed to make it harder for Moscow to sell oil at market prices, while still allowing some exports to continue in a way that prevents a global supply crisis.</p><p>The decision by Canada to lower the cap underscores the ongoing unity among Western countries in their efforts to isolate Russia economically. The new cap also brings Canada's position in line with the European Union and the United Kingdom, both of which have adopted similar policies to curb Russia’s oil revenue and signal their continued support for Ukraine.</p><h2><strong>Impact on global oil markets</strong></h2><p>The move comes amid ongoing volatility in the global oil markets, with prices fluctuating due to concerns over global economic growth and trade disruptions. Oil prices had recently seen their biggest weekly losses since June, as investors worried about the economic impact of sanctions and tariffs that have been introduced globally.</p><p>While the reduction in the price cap is designed to target Russia’s economy, it remains to be seen what impact this will have on the global oil market. The effectiveness of these measures will depend on how other countries, including major oil consumers in Asia, react to the cap and whether Russia can find alternative markets for its oil. With this latest move, Canada strengthens its commitment to opposing Russia’s invasion of Ukraine, alongside its key allies in the EU and the UK.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The price cap for Russian oil will be reduced from $60 per barrel to $47.60, according to a statement from Canada’s Finance Department. This move aligns Canada with the European Union and the United Kingdom, both of which had made similar decisions in July.

The Canadian government announced on Friday that it would lower the price cap on Russian-origin seaborne crude oil as part of a coordinated effort with its allies to increase economic pressure on Russia over its continued invasion of Ukraine. The price cap for Russian oil will be reduced from $60 per barrel to $47.60, according to a statement from Canada’s Finance Department. This move aligns Canada with the European Union and the United Kingdom, both of which had made similar decisions in July. “By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia's illegal war,” Canadian Finance Minister Francois-Philippe Champagne said in the statement. Targeting Russia’s oil revenues The price cap is part of a broader strategy aimed at reducing Russia’s oil revenues, a key source of funding for its military operations in Ukraine. Since the start of the war in 2022, Western allies have imposed a series of sanctions on Russia to weaken its economy and limit its ability to finance its war efforts. By capping the price of Russian oil, these measures are designed to make it harder for Moscow to sell oil at market prices, while still allowing some exports to continue in a way that prevents a global supply crisis. The decision by Canada to lower the cap underscores the ongoing unity among Western countries in their efforts to isolate Russia economically. The new cap also brings Canada's position in line with the European Union and the United Kingdom, both of which have adopted similar policies to curb Russia’s oil revenue and signal their continued support for Ukraine. Impact on global oil markets The move comes amid ongoing volatility in the global oil markets, with prices fluctuating due to concerns over global economic growth and trade disruptions. Oil prices had recently seen their biggest weekly losses since June, as investors worried about the economic impact of sanctions and tariffs that have been introduced globally. While the reduction in the price cap is designed to target Russia’s economy, it remains to be seen what impact this will have on the global oil market. The effectiveness of these measures will depend on how other countries, including major oil consumers in Asia, react to the cap and whether Russia can find alternative markets for its oil. With this latest move, Canada strengthens its commitment to opposing Russia’s invasion of Ukraine, alongside its key allies in the EU and the UK. (With inputs from agencies)

<p>The price cap for Russian oil will be reduced from $60 per barrel to $47.60, according to a statement from Canada’s Finance Department. This move aligns Canada with the European Union and the United Kingdom, both of which had made similar decisions in July.</p>

Canada joins allies in lowering price cap on Russian oil

<p>Britain’s competition watchdog, the Competition and Markets Authority (CMA), has cleared Boeing’s proposed $4.7 billion acquisition of Spirit AeroSystems, marking a significant step forward in the deal. The CMA, which began its investigation in June, decided against launching a deeper “Phase 2” review, meaning the deal does not pose a substantial risk to competition in the UK. This decision, expected to reassure investors, sets the stage for Boeing’s reintegration of Spirit, a move designed to bolster its supply chain, improve quality control, and restore investor confidence.</p><p>“We’re pleased with the outcome and continue to work through the remaining regulatory processes,” Boeing stated in response to the CMA’s clearance. However, the deal still awaits approval from two other major regulators: the European Commission and the US Federal Trade Commission. Both have the final say on whether Boeing can proceed with this major acquisition.</p><h2><strong>Strategic move to strengthen Boeing’s supply chain</strong></h2><p>The acquisition will bring Spirit AeroSystems, one of the world’s largest aerostructures manufacturers, back into Boeing’s fold, ending nearly two decades of the company's independence since its spin-off in 2005. Spirit’s production plants, which have been a critical source of fuselage parts and other aerospace components, will now be under Boeing’s control. These operations, based in Wichita and Tulsa, have been essential for Boeing’s 737 and 787 programmes. Boeing’s decision to buy Spirit comes after years of production challenges, including quality issues with parts supplied by Spirit, such as the fuselage involved in a 737 MAX incident with Alaska Airlines.</p><p>Boeing CEO Dave Calhoun emphasised that reintegrating Spirit would help align production systems, enhance safety protocols, and streamline quality programmes. The move is also part of Boeing’s strategy to stabilise its supply chain after the crises that have rocked the company in recent years, including the 737 MAX grounding and significant financial setbacks. By reacquiring Spirit, Boeing hopes to regain direct control of critical aerostructures production and reduce reliance on external suppliers.</p><h2><strong>Airbus moves to secure own supply chain with Spirit Divestitures</strong></h2><p>While Boeing is working to secure its acquisition, rival Airbus is also strengthening its position by acquiring certain Spirit facilities. In April, Airbus reached a deal to take over Spirit's US operations that supply components for Airbus’s A220 and A350 programmes. This move is aimed at stabilising Airbus’s own supply chain, which has faced pressure from delays and quality concerns related to Spirit’s manufacturing.</p><p>Meanwhile, Spirit is also offloading some of its non-Boeing-related operations. The company announced it will sell its facility in Subang, Malaysia, for $95.3 million to Composites Technology Research Malaysia (CTRM), which will continue producing parts for Boeing’s 737 and 787 programmes, as well as Airbus’s A220, A320, and A350.</p><h2><strong>What’s next for Boeing and Spirit</strong></h2><p>Although the CMA’s clearance is a major milestone, the deal still needs approval from the European Commission and the US Federal Trade Commission. Boeing hopes to finalise the transaction by the fourth quarter of 2025, contingent on these remaining regulatory approvals. This acquisition is expected to yield several benefits for Boeing, including more efficient operations, improved quality control, and greater supply chain resilience. However, challenges remain, particularly labour issues in Belfast and uncertainties regarding the integration of Spirit’s diverse operations.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

Boeing's acquisition will bring Spirit AeroSystems, one of the world’s largest aerostructures manufacturers, back into Boeing’s fold, ending nearly two decades of the company's independence since its spin-off in 2005.

Britain’s competition watchdog, the Competition and Markets Authority (CMA), has cleared Boeing’s proposed $4.7 billion acquisition of Spirit AeroSystems, marking a significant step forward in the deal. The CMA, which began its investigation in June, decided against launching a deeper “Phase 2” review, meaning the deal does not pose a substantial risk to competition in the UK. This decision, expected to reassure investors, sets the stage for Boeing’s reintegration of Spirit, a move designed to bolster its supply chain, improve quality control, and restore investor confidence. “We’re pleased with the outcome and continue to work through the remaining regulatory processes,” Boeing stated in response to the CMA’s clearance. However, the deal still awaits approval from two other major regulators: the European Commission and the US Federal Trade Commission. Both have the final say on whether Boeing can proceed with this major acquisition. Strategic move to strengthen Boeing’s supply chain The acquisition will bring Spirit AeroSystems, one of the world’s largest aerostructures manufacturers, back into Boeing’s fold, ending nearly two decades of the company's independence since its spin-off in 2005. Spirit’s production plants, which have been a critical source of fuselage parts and other aerospace components, will now be under Boeing’s control. These operations, based in Wichita and Tulsa, have been essential for Boeing’s 737 and 787 programmes. Boeing’s decision to buy Spirit comes after years of production challenges, including quality issues with parts supplied by Spirit, such as the fuselage involved in a 737 MAX incident with Alaska Airlines. Boeing CEO Dave Calhoun emphasised that reintegrating Spirit would help align production systems, enhance safety protocols, and streamline quality programmes. The move is also part of Boeing’s strategy to stabilise its supply chain after the crises that have rocked the company in recent years, including the 737 MAX grounding and significant financial setbacks. By reacquiring Spirit, Boeing hopes to regain direct control of critical aerostructures production and reduce reliance on external suppliers. Airbus moves to secure own supply chain with Spirit Divestitures While Boeing is working to secure its acquisition, rival Airbus is also strengthening its position by acquiring certain Spirit facilities. In April, Airbus reached a deal to take over Spirit's US operations that supply components for Airbus’s A220 and A350 programmes. This move is aimed at stabilising Airbus’s own supply chain, which has faced pressure from delays and quality concerns related to Spirit’s manufacturing. Meanwhile, Spirit is also offloading some of its non-Boeing-related operations. The company announced it will sell its facility in Subang, Malaysia, for $95.3 million to Composites Technology Research Malaysia (CTRM), which will continue producing parts for Boeing’s 737 and 787 programmes, as well as Airbus’s A220, A320, and A350. What’s next for Boeing and Spirit Although the CMA’s clearance is a major milestone, the deal still needs approval from the European Commission and the US Federal Trade Commission. Boeing hopes to finalise the transaction by the fourth quarter of 2025, contingent on these remaining regulatory approvals. This acquisition is expected to yield several benefits for Boeing, including more efficient operations, improved quality control, and greater supply chain resilience. However, challenges remain, particularly labour issues in Belfast and uncertainties regarding the integration of Spirit’s diverse operations. (With inputs from agencies)

<p>Boeing's acquisition will bring Spirit AeroSystems, one of the world’s largest aerostructures manufacturers, back into Boeing’s fold, ending nearly two decades of the company's independence since its spin-off in 2005.</p>

UK regulator clears Boeing’s $4.7 billion acquisition of Spirit AeroSystems

<p>China’s consumer prices were unchanged in July, reflecting the continued pressures of weak domestic demand and trade uncertainty. The National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI) remained at 0.0 per cent year-on-year, following a slight 0.1 per cent rise in June. This performance exceeded the 0.1 per cent decline expected by economists in a <i>Reuters </i>poll. However, on a month-to-month basis, CPI increased by 0.4 per cent, reversing June’s 0.1 per cent drop, driven by higher service and industrial goods prices. July saw food prices decline by 1.6 per cent, a further widening of the previous month’s decrease. This decline, largely due to a high base of comparison from the previous year, dragged down the CPI by approximately 0.29 percentage points.</p><h2><strong>Core CPI signals economic recovery in key sectors</strong></h2><p>Despite the flat overall CPI, core inflation, which excludes volatile food and energy prices, rose by 0.8 per cent year-on-year, reflecting growing momentum in domestic demand, especially in the services sector. Core CPI’s rise is the largest since March 2024 and indicates an ongoing recovery in consumption, though it remains partial. Service prices increased by 0.6 per cent month-on-month, contributing significantly to the CPI rise, especially in areas such as air travel, tourism, and accommodations. With the summer travel season in full swing, prices in sectors like air tickets, tourism, hotel stays, and vehicle rentals jumped by 17.9 per cent, 9.1 per cent, 6.9 per cent, and 4.4 per cent, respectively, all above seasonal averages. These sectors alone contributed around 0.21 percentage points to the overall CPI increase.</p><h2><strong>PPI continues decline, but eases pressure</strong></h2><p>Meanwhile, the Producer Price Index (PPI), which measures factory-gate prices, fell 3.6 per cent year-on-year in July, the same as in June. However, month-to-month, the PPI showed a slight improvement, declining by just 0.2 per cent, a modest narrowing of the decline seen in previous months. Experts explained that the narrowing was partially due to seasonal factors and improved domestic market competition, while global trade uncertainties continue to weigh on industrial prices. Price increases were recorded in some manufacturing sectors, including aircraft, wearable smart devices, and microwave communication equipment. These gains indicate that downward pressure on industrial prices is easing, as policies to stabilise growth begin to show early signs of success.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

July saw food prices decline by 1.6 per cent, a further widening of the previous month’s decrease. This decline, largely due to a high base of comparison from the previous year, dragged down the CPI by approximately 0.29 percentage points.

China’s consumer prices were unchanged in July, reflecting the continued pressures of weak domestic demand and trade uncertainty. The National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI) remained at 0.0 per cent year-on-year, following a slight 0.1 per cent rise in June. This performance exceeded the 0.1 per cent decline expected by economists in a Reuters poll. However, on a month-to-month basis, CPI increased by 0.4 per cent, reversing June’s 0.1 per cent drop, driven by higher service and industrial goods prices. July saw food prices decline by 1.6 per cent, a further widening of the previous month’s decrease. This decline, largely due to a high base of comparison from the previous year, dragged down the CPI by approximately 0.29 percentage points. Core CPI signals economic recovery in key sectors Despite the flat overall CPI, core inflation, which excludes volatile food and energy prices, rose by 0.8 per cent year-on-year, reflecting growing momentum in domestic demand, especially in the services sector. Core CPI’s rise is the largest since March 2024 and indicates an ongoing recovery in consumption, though it remains partial. Service prices increased by 0.6 per cent month-on-month, contributing significantly to the CPI rise, especially in areas such as air travel, tourism, and accommodations. With the summer travel season in full swing, prices in sectors like air tickets, tourism, hotel stays, and vehicle rentals jumped by 17.9 per cent, 9.1 per cent, 6.9 per cent, and 4.4 per cent, respectively, all above seasonal averages. These sectors alone contributed around 0.21 percentage points to the overall CPI increase. PPI continues decline, but eases pressure Meanwhile, the Producer Price Index (PPI), which measures factory-gate prices, fell 3.6 per cent year-on-year in July, the same as in June. However, month-to-month, the PPI showed a slight improvement, declining by just 0.2 per cent, a modest narrowing of the decline seen in previous months. Experts explained that the narrowing was partially due to seasonal factors and improved domestic market competition, while global trade uncertainties continue to weigh on industrial prices. Price increases were recorded in some manufacturing sectors, including aircraft, wearable smart devices, and microwave communication equipment. These gains indicate that downward pressure on industrial prices is easing, as policies to stabilise growth begin to show early signs of success. (With inputs from agencies)

<p>July saw food prices decline by 1.6 per cent, a further widening of the previous month’s decrease. This decline, largely due to a high base of comparison from the previous year, dragged down the CPI by approximately 0.29 percentage points.</p>

China’s consumer prices remain flat in July, but core inflation shows signs of recovery

<p>China is on the verge of surpassing the United States as Germany’s largest trading partner, according to preliminary data from the German statistics office for the first half of 2025. Although the US remains the largest trading partner for now, its lead over China has dwindled to a razor-thin margin. In the first half of 2025, total trade between Germany and the US reached approximately €125 billion ($145 billion), while trade with China reached €122.8 billion ($143.06 billion), just €2.2 billion (nearly $2.5 billion) less.</p><p>Germany’s trade landscape has shifted dramatically over the past year. After the US overtook China in 2024, ending an eight-year streak for China as Germany’s biggest trading partner, German exports to the US have declined, largely due to the impact of renewed US tariffs under former President Donald Trump's administration. Meanwhile, imports from China surged by 10.7 per cent in the first half of 2025, crossing the €80 billion ($93.20 billion) threshold.</p><h2><strong>US exports to Germany hit by tariffs</strong></h2><p>Germany’s exports to the US fell by 3.9 per cent to €77.6 billion in the first half of 2025, continuing a trend of decline that began with the reinstatement of tariffs. Economists predict that new tariffs introduced by the US are expected to slow Germany’s exports to the US by 20 per cent to 25 per cent over the next two years. This decline has left Germany with fewer opportunities to strengthen its trade ties with the US, which was once the country’s most important market. With the US imposing a 15 per cent tariff on most products as part of the July EU-US trade agreement, experts warn that the ongoing losses in German exports to the US are likely to intensify as the year progresses.</p><h2><strong>China seeks to fill the void left by the US</strong></h2><p>Imports from China, meanwhile, have continued to rise. German companies appear to be increasingly reliant on Chinese goods, as evidenced by the 10.7 per cent increase in Chinese imports. The surge in imports suggests that China is effectively redirecting trade from the US to Europe. Additionally, a significant undervaluation of the yuan against the euro is making Chinese goods more affordable, further fuelling the influx of Chinese products into the German market.</p><p>However, exports to China have been less favourable. German exports to China fell 14.2 per cent to €41.4 billion ($48.23 billion) in the first half of 2025, as Chinese manufacturers intensified competition. This imbalance has led to a record trade deficit of €40 billion ($46.6 billion) with China, second only to the deficit recorded in 2022. Despite this, analysts predict that the trade deficit could worsen as China continues to capture a larger share of the European market.</p><h2><strong>The broader global impact</strong></h2><p>The shifting dynamics between Germany, the US, and China are a reflection of broader global trade realignments. Under Trump, the US introduced tariffs that disrupted international trade and forced countries to adjust. With the World Trade Organization (WTO) forecasting a decline in global merchandise trade in 2025, and North America facing a significant downturn in exports, global markets are feeling the strain. The WTO also warned that further escalation of trade tensions could exacerbate these declines, hurting vulnerable economies around the world.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

After the US overtook China in 2024, ending an eight-year streak for China as Germany’s biggest trading partner, German exports to the US have declined, largely due to the impact of renewed US tariffs under former President Donald Trump's administration.

China is on the verge of surpassing the United States as Germany’s largest trading partner, according to preliminary data from the German statistics office for the first half of 2025. Although the US remains the largest trading partner for now, its lead over China has dwindled to a razor-thin margin. In the first half of 2025, total trade between Germany and the US reached approximately €125 billion ($145 billion), while trade with China reached €122.8 billion ($143.06 billion), just €2.2 billion (nearly $2.5 billion) less. Germany’s trade landscape has shifted dramatically over the past year. After the US overtook China in 2024, ending an eight-year streak for China as Germany’s biggest trading partner, German exports to the US have declined, largely due to the impact of renewed US tariffs under former President Donald Trump's administration. Meanwhile, imports from China surged by 10.7 per cent in the first half of 2025, crossing the €80 billion ($93.20 billion) threshold. US exports to Germany hit by tariffs Germany’s exports to the US fell by 3.9 per cent to €77.6 billion in the first half of 2025, continuing a trend of decline that began with the reinstatement of tariffs. Economists predict that new tariffs introduced by the US are expected to slow Germany’s exports to the US by 20 per cent to 25 per cent over the next two years. This decline has left Germany with fewer opportunities to strengthen its trade ties with the US, which was once the country’s most important market. With the US imposing a 15 per cent tariff on most products as part of the July EU-US trade agreement, experts warn that the ongoing losses in German exports to the US are likely to intensify as the year progresses. China seeks to fill the void left by the US Imports from China, meanwhile, have continued to rise. German companies appear to be increasingly reliant on Chinese goods, as evidenced by the 10.7 per cent increase in Chinese imports. The surge in imports suggests that China is effectively redirecting trade from the US to Europe. Additionally, a significant undervaluation of the yuan against the euro is making Chinese goods more affordable, further fuelling the influx of Chinese products into the German market. However, exports to China have been less favourable. German exports to China fell 14.2 per cent to €41.4 billion ($48.23 billion) in the first half of 2025, as Chinese manufacturers intensified competition. This imbalance has led to a record trade deficit of €40 billion ($46.6 billion) with China, second only to the deficit recorded in 2022. Despite this, analysts predict that the trade deficit could worsen as China continues to capture a larger share of the European market. The broader global impact The shifting dynamics between Germany, the US, and China are a reflection of broader global trade realignments. Under Trump, the US introduced tariffs that disrupted international trade and forced countries to adjust. With the World Trade Organization (WTO) forecasting a decline in global merchandise trade in 2025, and North America facing a significant downturn in exports, global markets are feeling the strain. The WTO also warned that further escalation of trade tensions could exacerbate these declines, hurting vulnerable economies around the world. (With inputs from agencies)

<p>After the US overtook China in 2024, ending an eight-year streak for China as Germany’s biggest trading partner, German exports to the US have declined, largely due to the impact of renewed US tariffs under former President Donald Trump's administration.</p>

China inches closer to overtaking US as Germany’s largest trading partner amid tariff shifts

<p>Imports to the United States fell more than anticipated in June, signalling the growing impact of shifting tariff policies and trade uncertainties. According to the National Retail Federation (NRF), US ports handled 1.96 million 20-foot equivalent units (TEUs) in June, marking an 8.4 per cent decline from the same month last year. While there was a slight increase of 0.7 per cent compared to May, the drop was sharper than expected, with NRF initially forecasting a modest rise for the month.</p><p>The downturn is attributed to the unpredictable nature of US trade policy, particularly under US President Donald Trump's administration. Several rounds of tariffs went into effect in early August, with duties now ranging from 10 per cent to 50 per cent on products from countries like India, Brazil, and Switzerland. The uncertainty around tariff adjustments has left retailers in a state of flux, with many grappling to predict holiday orders and manage inventory effectively.</p><h2><strong>Impact on retailers and the supply chain</strong></h2><p>Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy, highlighted that the tariff uncertainty is not only affecting retailers’ ability to forecast holiday shipments but is also expected to lead to higher prices for US consumers. With duties on a wide range of goods set to increase, consumers could face fewer choices on store shelves as supply chains become strained. Apparel retailers, including major brands like Under Armour and Deckers Outdoor, have already noted the impact of these tariff changes and are working to diversify their supply chains to minimise costs.</p><p>"We need binding trade agreements that open markets by lowering tariffs, not raising them," Gold told&nbsp;<i>Reuters</i>, adding that the tariffs are contributing to a slowdown in economic growth, reduced hiring, and diminished business investment.</p><h2><strong>Forecast for 2025: A decline in import volumes</strong></h2><p>Looking ahead, the NRF’s Global Port Tracker projects that US import volumes will end 2025 down 5.6 per cent compared to 2024. While this forecast remains preliminary, it underscores the broader impact that ongoing tariff hikes and the Trump administration’s trade policies are having on the nation’s supply chain. Lower import volumes mean fewer goods will make it to store shelves, exacerbating the challenges faced by small businesses in particular.</p><p>Ben Hackett, founder of Hackett Associates, pointed out that the volatility in tariff policies is causing widespread confusion among importers, exporters, and consumers. Many businesses have pulled forward imports in anticipation of tariff hikes, potentially leading to a sharp decline in trade volumes by late September. Hackett also noted that US exporters are facing growing challenges, with counter-tariffs from other nations leaving their products unsold.</p><p>The reduced import volumes are expected to continue through the rest of the year, with September through December forecasted to see significant year-over-year declines, in some months as much as 20 per cent. The overall import volume for 2025 is expected to fall to 24.1 million TEUs, a 5.6 per cent drop from the previous year’s 25.5 million TEUs. As businesses continue to navigate the unpredictable tariff landscape, both US consumers and businesses may face higher prices, fewer product choices, and strained supply chains in the months to come.</p>

The downturn in US imports is attributed to the unpredictable nature of US trade policy, particularly under President Trump. Several rounds of tariffs went into effect in early August, with duties now ranging from 10 to 50 per cent on products from multiple countries. 

Imports to the United States fell more than anticipated in June, signalling the growing impact of shifting tariff policies and trade uncertainties. According to the National Retail Federation (NRF), US ports handled 1.96 million 20-foot equivalent units (TEUs) in June, marking an 8.4 per cent decline from the same month last year. While there was a slight increase of 0.7 per cent compared to May, the drop was sharper than expected, with NRF initially forecasting a modest rise for the month. The downturn is attributed to the unpredictable nature of US trade policy, particularly under US President Donald Trump's administration. Several rounds of tariffs went into effect in early August, with duties now ranging from 10 per cent to 50 per cent on products from countries like India, Brazil, and Switzerland. The uncertainty around tariff adjustments has left retailers in a state of flux, with many grappling to predict holiday orders and manage inventory effectively. Impact on retailers and the supply chain Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy, highlighted that the tariff uncertainty is not only affecting retailers’ ability to forecast holiday shipments but is also expected to lead to higher prices for US consumers. With duties on a wide range of goods set to increase, consumers could face fewer choices on store shelves as supply chains become strained. Apparel retailers, including major brands like Under Armour and Deckers Outdoor, have already noted the impact of these tariff changes and are working to diversify their supply chains to minimise costs. "We need binding trade agreements that open markets by lowering tariffs, not raising them," Gold told Reuters, adding that the tariffs are contributing to a slowdown in economic growth, reduced hiring, and diminished business investment. Forecast for 2025: A decline in import volumes Looking ahead, the NRF’s Global Port Tracker projects that US import volumes will end 2025 down 5.6 per cent compared to 2024. While this forecast remains preliminary, it underscores the broader impact that ongoing tariff hikes and the Trump administration’s trade policies are having on the nation’s supply chain. Lower import volumes mean fewer goods will make it to store shelves, exacerbating the challenges faced by small businesses in particular. Ben Hackett, founder of Hackett Associates, pointed out that the volatility in tariff policies is causing widespread confusion among importers, exporters, and consumers. Many businesses have pulled forward imports in anticipation of tariff hikes, potentially leading to a sharp decline in trade volumes by late September. Hackett also noted that US exporters are facing growing challenges, with counter-tariffs from other nations leaving their products unsold. The reduced import volumes are expected to continue through the rest of the year, with September through December forecasted to see significant year-over-year declines, in some months as much as 20 per cent. The overall import volume for 2025 is expected to fall to 24.1 million TEUs, a 5.6 per cent drop from the previous year’s 25.5 million TEUs. As businesses continue to navigate the unpredictable tariff landscape, both US consumers and businesses may face higher prices, fewer product choices, and strained supply chains in the months to come.

<p>The downturn in US imports is attributed to the unpredictable nature of US trade policy, particularly under President Trump. Several rounds of tariffs went into effect in early August, with duties now ranging from 10 to 50 per cent on products from multiple countries.&nbsp;</p>

US imports drop as tariff uncertainty takes toll on retailers

The world's costliest gem used in jewellery is considered to be the Pink Diamond. Here is the list of the world's top five costliest gems.

<p>The world's costliest gem used in jewellery is considered to be the Pink Diamond. Here is the list of the world's top five costliest gems.</p>

Only billioniare's can afford this: Shocking price of world's costliest gems

<p>Apple chief executive Tim Cook has successfully navigated complex political waters by securing a substantial deal with US President Donald Trump to invest $600 billion in United States manufacturing over the next four years. The agreement aims to strengthen the US supply chain, particularly in semiconductor and component manufacturing, although the final assembly of Apple products, such as the iPhone, will remain overseas for the time being.&nbsp;</p><p>Announced during a meeting at the White House, the commitment includes a new $100 billion investment in US-based suppliers, bringing Apple’s total domestic manufacturing commitment to $600 billion by 2024. This marks an escalation from Apple’s earlier $500 billion pledge made earlier this year. While the announcement of a “Made-in-USA” iPhone remains distant, the investment covers critical components, including chips and glass, that are vital to Apple’s devices.</p><h2><strong>Apple’s longstanding US partnerships play a key role</strong></h2><p>As part of the deal, Apple will deepen its partnerships with major American companies such as Corning, which produces glass for Apple’s iPhones and Apple Watches. Apple has pledged to invest $2.5 billion in Corning’s Kentucky facility to support the production of cover glass, a move that will create significant domestic manufacturing jobs. Apple also reaffirmed its longstanding relationship with Texas Instruments, which will ramp up chip production in Texas and Utah as part of this broader initiative.</p><p>While Cook’s announcement includes spending commitments with firms like Broadcom, GlobalFoundries, and Applied Materials, analysts have expressed scepticism about the tangible impact of this investment on Apple’s bottom line. Apple is not radically altering its global supply chain but rather expanding relationships with its existing US-based suppliers, some of which were already involved in previous investment pledges.</p><p>The centrepiece of the deal is Apple’s partnership with Taiwan Semiconductor Manufacturing Company (TSMC), which is ramping up its production in Arizona. TSMC will be a key player in the chip supply chain, producing tens of millions of advanced chips for Apple’s products, including future iPhones. Although TSMC’s Arizona facility was already in the works, Apple’s involvement as the largest customer highlights the growing importance of US production in Apple’s strategy.</p><h2><strong>A diplomatic move to avoid tariffs</strong></h2><p>For Tim Cook, the new deal serves multiple purposes, not least of which is sidestepping the looming threat of tariffs on Chinese imports. President Trump has made clear his intention to impose 100 per cent tariffs on semiconductor chips, a move that would significantly raise the cost of electronics. However, the tariff exemption granted to Apple for its US manufacturing investments ensures that the company can avoid these punitive tariffs while meeting the president’s demands for more domestic production.</p><p>Apple’s stock saw a bump following the announcement, rising 5 per cent on Wednesday and another 3 per cent on Thursday, a sign that investors are pleased with Cook’s ability to manage the company’s interests in the face of political and economic pressures. Despite analysts questioning the scale and feasibility of the investment, the deal represents a significant gesture by Apple to reinforce its standing as a critical American manufacturer.</p><h2><strong>Promises vs Reality: Can Apple Deliver?</strong></h2><p>While the numbers are eye-popping, analysts remain cautious about the potential impact of this deal on Apple’s overall business model. Apple has long relied on its Asian supply chain to manufacture products cost-effectively. Shifting large portions of that to the US could have significant implications for Apple’s pricing structure and supply chain efficiency, particularly given the complexity of the semiconductor manufacturing process.</p><p>Some analysts question whether the promised $600 billion is as much about political optics as it is about real transformation. The announcement, while symbolic, may only represent a modest shift in the company’s manufacturing footprint, with Apple continuing to rely on its international partners for large-scale assembly. For now, it seems that Cook’s deft diplomatic manoeuvring with President Trump will continue to give Apple some breathing room on the global stage while securing key domestic manufacturing alliances.</p><p>Despite the uncertainties, Cook’s ability to negotiate such a high-profile deal demonstrates the CEO’s unique ability to balance corporate interests with political demands, a skill that has earned him the nickname “Trump Whisperer”. As the tech giant continues to adjust its supply chain and navigate an increasingly complex geopolitical landscape, this latest investment deal could serve as both a victory and a starting point for more significant changes in the years to come.</p><p><br>(<i>With inputs from agencies</i>)</p>

The commitment includes a new $100 billion investment in US-based suppliers, bringing Apple’s total domestic manufacturing commitment to $600 billion by 2024. This marks an escalation from Apple’s earlier $500 billion pledge made earlier this year.

Apple chief executive Tim Cook has successfully navigated complex political waters by securing a substantial deal with US President Donald Trump to invest $600 billion in United States manufacturing over the next four years. The agreement aims to strengthen the US supply chain, particularly in semiconductor and component manufacturing, although the final assembly of Apple products, such as the iPhone, will remain overseas for the time being. Announced during a meeting at the White House, the commitment includes a new $100 billion investment in US-based suppliers, bringing Apple’s total domestic manufacturing commitment to $600 billion by 2024. This marks an escalation from Apple’s earlier $500 billion pledge made earlier this year. While the announcement of a “Made-in-USA” iPhone remains distant, the investment covers critical components, including chips and glass, that are vital to Apple’s devices. Apple’s longstanding US partnerships play a key role As part of the deal, Apple will deepen its partnerships with major American companies such as Corning, which produces glass for Apple’s iPhones and Apple Watches. Apple has pledged to invest $2.5 billion in Corning’s Kentucky facility to support the production of cover glass, a move that will create significant domestic manufacturing jobs. Apple also reaffirmed its longstanding relationship with Texas Instruments, which will ramp up chip production in Texas and Utah as part of this broader initiative. While Cook’s announcement includes spending commitments with firms like Broadcom, GlobalFoundries, and Applied Materials, analysts have expressed scepticism about the tangible impact of this investment on Apple’s bottom line. Apple is not radically altering its global supply chain but rather expanding relationships with its existing US-based suppliers, some of which were already involved in previous investment pledges. The centrepiece of the deal is Apple’s partnership with Taiwan Semiconductor Manufacturing Company (TSMC), which is ramping up its production in Arizona. TSMC will be a key player in the chip supply chain, producing tens of millions of advanced chips for Apple’s products, including future iPhones. Although TSMC’s Arizona facility was already in the works, Apple’s involvement as the largest customer highlights the growing importance of US production in Apple’s strategy. A diplomatic move to avoid tariffs For Tim Cook, the new deal serves multiple purposes, not least of which is sidestepping the looming threat of tariffs on Chinese imports. President Trump has made clear his intention to impose 100 per cent tariffs on semiconductor chips, a move that would significantly raise the cost of electronics. However, the tariff exemption granted to Apple for its US manufacturing investments ensures that the company can avoid these punitive tariffs while meeting the president’s demands for more domestic production. Apple’s stock saw a bump following the announcement, rising 5 per cent on Wednesday and another 3 per cent on Thursday, a sign that investors are pleased with Cook’s ability to manage the company’s interests in the face of political and economic pressures. Despite analysts questioning the scale and feasibility of the investment, the deal represents a significant gesture by Apple to reinforce its standing as a critical American manufacturer. Promises vs Reality: Can Apple Deliver? While the numbers are eye-popping, analysts remain cautious about the potential impact of this deal on Apple’s overall business model. Apple has long relied on its Asian supply chain to manufacture products cost-effectively. Shifting large portions of that to the US could have significant implications for Apple’s pricing structure and supply chain efficiency, particularly given the complexity of the semiconductor manufacturing process. Some analysts question whether the promised $600 billion is as much about political optics as it is about real transformation. The announcement, while symbolic, may only represent a modest shift in the company’s manufacturing footprint, with Apple continuing to rely on its international partners for large-scale assembly. For now, it seems that Cook’s deft diplomatic manoeuvring with President Trump will continue to give Apple some breathing room on the global stage while securing key domestic manufacturing alliances. Despite the uncertainties, Cook’s ability to negotiate such a high-profile deal demonstrates the CEO’s unique ability to balance corporate interests with political demands, a skill that has earned him the nickname “Trump Whisperer”. As the tech giant continues to adjust its supply chain and navigate an increasingly complex geopolitical landscape, this latest investment deal could serve as both a victory and a starting point for more significant changes in the years to come. (With inputs from agencies)

<p>The commitment includes a new $100 billion investment in US-based suppliers, bringing Apple’s total domestic manufacturing commitment to $600 billion by 2024. This marks an escalation from Apple’s earlier $500 billion pledge made earlier this year.</p>

Apple’s strategy for US manufacturing: Cook’s $600 billion plan to secure tariff exemptions

<p>US President Donald Trump has nominated Stephen Miran, Chairman of the Council of Economic Advisers (CEA), to temporarily fill a vacant seat on the Federal Reserve Board of Governors. This appointment comes in the wake of Governor Adriana Kugler’s sudden resignation and will last until January 31, 2026. Miran, a vocal advocate for Trump’s economic policies, will step into the role as the White House searches for a permanent nominee.</p><h2><strong>Miran’s economic influence and Fed criticism</strong></h2><p>Miran, who holds a Ph.D. in Economics from Harvard University, has played a pivotal role in shaping Trump’s economic strategy, particularly the administration’s controversial tariffs and tax cuts. He has long argued that the combination of these measures will stimulate growth while addressing budget deficits. Additionally, Miran has been critical of the Federal Reserve’s actions, especially its stimulus efforts during the Covid-19 pandemic. He believes the central bank should be more responsive to the president’s economic agenda.</p><p>Trump praised Miran’s expertise in a post on Truth Social, calling him “unparalleled” in the field of economics. “He has been with me from the beginning of my second term, and his expertise in the world of economics is unparalleled. He will do an outstanding job,” Trump stated. While Miran is being appointed to fill Kugler's seat, the president has indicated he may nominate a different candidate for the full 14-year term.</p><h2><strong>Potential tension over Fed independence</strong></h2><p>Miran’s nomination is likely to fuel concerns about the politicisation of the Federal Reserve. Traditionally, the Fed has maintained its independence from political influence, but Trump has expressed his desire to appoint officials who will lower interest rates and pursue monetary policies more aligned with his administration’s goals. This includes his aim to reduce the government’s substantial debt burden and boost economic growth.</p><p>Miran’s appointment could offer Trump more direct control over Fed policies, including interest rate decisions, which are central to the economic recovery. While Miran's term is temporary, the impact of his presence on the Board, especially as a potential critic of current Chair Jerome Powell, could be significant.</p><h2><strong>Senate approval and future appointments</strong></h2><p>Miran’s nomination still requires Senate confirmation, a process that will likely begin when Congress reconvenes in early September. Senate Banking Committee Chairman Tim Scott (R-SC) has already expressed support for Miran, calling him an “accomplished economist” who would bring greater “transparency and accountability” to the Fed. However, top Democrats, including Senator Elizabeth Warren, have signalled they will question Miran’s independence, particularly given his close ties to Trump. The confirmation process promises to be a contentious one, with critics concerned about undermining the Fed’s ability to make decisions free from political pressure.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

Stephen Miran has played a pivotal role in shaping Trump’s economic strategy, particularly the administration’s controversial tariffs and tax cuts. He has long argued that the combination of these measures will stimulate growth while addressing budget deficits. 

US President Donald Trump has nominated Stephen Miran, Chairman of the Council of Economic Advisers (CEA), to temporarily fill a vacant seat on the Federal Reserve Board of Governors. This appointment comes in the wake of Governor Adriana Kugler’s sudden resignation and will last until January 31, 2026. Miran, a vocal advocate for Trump’s economic policies, will step into the role as the White House searches for a permanent nominee. Miran’s economic influence and Fed criticism Miran, who holds a Ph.D. in Economics from Harvard University, has played a pivotal role in shaping Trump’s economic strategy, particularly the administration’s controversial tariffs and tax cuts. He has long argued that the combination of these measures will stimulate growth while addressing budget deficits. Additionally, Miran has been critical of the Federal Reserve’s actions, especially its stimulus efforts during the Covid-19 pandemic. He believes the central bank should be more responsive to the president’s economic agenda. Trump praised Miran’s expertise in a post on Truth Social, calling him “unparalleled” in the field of economics. “He has been with me from the beginning of my second term, and his expertise in the world of economics is unparalleled. He will do an outstanding job,” Trump stated. While Miran is being appointed to fill Kugler's seat, the president has indicated he may nominate a different candidate for the full 14-year term. Potential tension over Fed independence Miran’s nomination is likely to fuel concerns about the politicisation of the Federal Reserve. Traditionally, the Fed has maintained its independence from political influence, but Trump has expressed his desire to appoint officials who will lower interest rates and pursue monetary policies more aligned with his administration’s goals. This includes his aim to reduce the government’s substantial debt burden and boost economic growth. Miran’s appointment could offer Trump more direct control over Fed policies, including interest rate decisions, which are central to the economic recovery. While Miran's term is temporary, the impact of his presence on the Board, especially as a potential critic of current Chair Jerome Powell, could be significant. Senate approval and future appointments Miran’s nomination still requires Senate confirmation, a process that will likely begin when Congress reconvenes in early September. Senate Banking Committee Chairman Tim Scott (R-SC) has already expressed support for Miran, calling him an “accomplished economist” who would bring greater “transparency and accountability” to the Fed. However, top Democrats, including Senator Elizabeth Warren, have signalled they will question Miran’s independence, particularly given his close ties to Trump. The confirmation process promises to be a contentious one, with critics concerned about undermining the Fed’s ability to make decisions free from political pressure. (With inputs from agencies)

<p>Stephen Miran has played a pivotal role in shaping Trump’s economic strategy, particularly the administration’s controversial tariffs and tax cuts. He has long argued that the combination of these measures will stimulate growth while addressing budget deficits.&nbsp;</p>

Trump nominates Stephen Miran for Federal Reserve Board of Governors

<p>The US government has pledged to amend its recent executive order on tariffs, following trade talks between Japan and US officials in Washington. This agreement addresses Japan’s concerns over “stacking” tariffs on its goods, which were inadvertently applied despite an agreement between the two countries. Ryosei Akazawa, Japan’s top trade negotiator, confirmed that US officials would revise the July 31 order to remove overlapping levies and also refund any excess duties already collected.</p><p>The confusion over tariff stacking had caused significant concern in Japan, particularly among exporters, after US President Donald Trump’s executive order imposed a 15 per cent tariff on Japanese imports on top of pre-existing tariffs. Japan had expected that goods with pre-existing tariffs under 15 per cent would only face the new 15 per cent rate, without additional levies being added. However, the original executive order included an exemption for the European Union but did not address Japan’s situation, triggering fears that Japanese companies could face unexpectedly high costs.</p><h2><strong>US to cut auto tariffs to 15 per cent as part of trade deal</strong></h2><p>In addition to resolving the stacking issue, Akazawa said that US officials confirmed President Trump would sign a new executive order to reduce auto tariffs on Japanese imports from 27.5 per cent to 15 per cent, in line with the agreement reached between the two nations last month. Japan had negotiated the reduction after agreeing to invest $550 billion in the US economy through government-backed projects and loans.</p><p>The unclear terms of the original trade agreement had left many Japanese industries, especially the car manufacturing sector, anxious about how the tariff cuts would be implemented. Toyota Motor Corp., Japan’s largest automaker, has already lowered its revenue forecast due to the anticipated $9.5 billion hit from US tariffs. For Japan, the auto sector is a crucial part of the economy, employing millions and driving wage growth. While the revised tariff rules bring some clarity, Akazawa did not provide a timeline for when the new orders would be implemented. He expressed hope that the changes would be made sooner rather than later but stopped short of offering a definitive date.</p><h2><strong>Japanese stock market reacts to positive trade news</strong></h2><p>Despite the tariff confusion, Japan’s financial markets responded positively to the latest developments. The Tokyo Stock Exchange’s Topix index broke above the 3,000-point mark for the first time, buoyed by investor optimism over corporate earnings and the relief generated by the trade discussions. Sony, for example, reduced its full-year tariff cost forecast from ¥100 billion ($678.82 million) to ¥70 billion ($475.17 million), while Morgan Stanley analysts reported that 91 per cent of Japanese companies had maintained their full-year forecasts, the highest level in the past decade.</p><p>However, the ongoing uncertainty around the timing and implementation of the US tariffs has created a backdrop of caution for Japanese businesses, many of whom are still unsure of how the final terms will unfold. Opposition politicians have called on Prime Minister Shigeru Ishiba to issue a joint statement with the US to clarify the details of the deal, but for now, Japan’s government is focused on securing the necessary tariff adjustments through diplomatic channels.</p><p>The talks in Washington mark another chapter in the ongoing trade negotiations between Japan and the US, as both countries seek to stabilise their economic relationship while balancing the pressure of competing global trade priorities.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

This agreement addresses Japan’s concerns over “stacking” tariffs on its goods, which were inadvertently applied despite an agreement between the two countries. Japan confirmed that US officials would revise the July 31 order to remove overlapping levies and refund any excess duties collected

The US government has pledged to amend its recent executive order on tariffs, following trade talks between Japan and US officials in Washington. This agreement addresses Japan’s concerns over “stacking” tariffs on its goods, which were inadvertently applied despite an agreement between the two countries. Ryosei Akazawa, Japan’s top trade negotiator, confirmed that US officials would revise the July 31 order to remove overlapping levies and also refund any excess duties already collected. The confusion over tariff stacking had caused significant concern in Japan, particularly among exporters, after US President Donald Trump’s executive order imposed a 15 per cent tariff on Japanese imports on top of pre-existing tariffs. Japan had expected that goods with pre-existing tariffs under 15 per cent would only face the new 15 per cent rate, without additional levies being added. However, the original executive order included an exemption for the European Union but did not address Japan’s situation, triggering fears that Japanese companies could face unexpectedly high costs. US to cut auto tariffs to 15 per cent as part of trade deal In addition to resolving the stacking issue, Akazawa said that US officials confirmed President Trump would sign a new executive order to reduce auto tariffs on Japanese imports from 27.5 per cent to 15 per cent, in line with the agreement reached between the two nations last month. Japan had negotiated the reduction after agreeing to invest $550 billion in the US economy through government-backed projects and loans. The unclear terms of the original trade agreement had left many Japanese industries, especially the car manufacturing sector, anxious about how the tariff cuts would be implemented. Toyota Motor Corp., Japan’s largest automaker, has already lowered its revenue forecast due to the anticipated $9.5 billion hit from US tariffs. For Japan, the auto sector is a crucial part of the economy, employing millions and driving wage growth. While the revised tariff rules bring some clarity, Akazawa did not provide a timeline for when the new orders would be implemented. He expressed hope that the changes would be made sooner rather than later but stopped short of offering a definitive date. Japanese stock market reacts to positive trade news Despite the tariff confusion, Japan’s financial markets responded positively to the latest developments. The Tokyo Stock Exchange’s Topix index broke above the 3,000-point mark for the first time, buoyed by investor optimism over corporate earnings and the relief generated by the trade discussions. Sony, for example, reduced its full-year tariff cost forecast from ¥100 billion ($678.82 million) to ¥70 billion ($475.17 million), while Morgan Stanley analysts reported that 91 per cent of Japanese companies had maintained their full-year forecasts, the highest level in the past decade. However, the ongoing uncertainty around the timing and implementation of the US tariffs has created a backdrop of caution for Japanese businesses, many of whom are still unsure of how the final terms will unfold. Opposition politicians have called on Prime Minister Shigeru Ishiba to issue a joint statement with the US to clarify the details of the deal, but for now, Japan’s government is focused on securing the necessary tariff adjustments through diplomatic channels. The talks in Washington mark another chapter in the ongoing trade negotiations between Japan and the US, as both countries seek to stabilise their economic relationship while balancing the pressure of competing global trade priorities. (With inputs from agencies)

<p>This agreement addresses Japan’s concerns over “stacking” tariffs on its goods, which were inadvertently applied despite an agreement between the two countries. Japan confirmed that US officials would revise the July 31 order to remove overlapping levies and refund any excess duties collected</p>

US to amend tariffs on Japan after trade talks, promises refunds

<p>OpenAI has officially launched GPT-5, the latest iteration of its generative AI model, marking a major leap forward in artificial intelligence. The highly anticipated release, which debuted on August 7, promises to deliver significant advancements in coding, writing, health, and multimodal reasoning, setting the stage for even more transformative applications of AI in the real world. Available to 700 million ChatGPT users, GPT-5 is now the default model for signed-in users, replacing GPT-4 and previous versions. For the first time, it’s also accessible to free users, who will gradually gain access with lower usage limits. The model is designed to excel at both basic tasks and highly complex queries, positioning it as a powerful tool for businesses and professionals seeking more advanced capabilities.</p><h2><strong>GPT-5’s expanded capabilities</strong></h2><p>The improvements in GPT-5 are vast, making it a versatile solution for a wide range of applications. OpenAI CEO Sam Altman highlighted the model’s ability to serve as a “legitimate PhD-level expert” in nearly any field, particularly in coding, health-related advice, and writing. GPT-5 introduces features like vibe coding, where users can create entire software programs by simply providing written text prompts. This technology allows for rapid generation of complex software, making it a potential game-changer for industries looking to streamline development processes.&nbsp;</p><p>In healthcare, GPT-5 performs better on medical benchmarks, providing informed support without replacing professionals. In writing, GPT-5 handles more nuanced tasks, such as free verse poetry, and is far more proficient at drafting everyday content. Additionally, its ability to tackle advanced reasoning and solve complex problems in areas like maths and science sets it apart from its predecessors.</p><h2><strong>Big investments, bigger expectations</strong></h2><p>The release of GPT-5 comes at a critical moment for the AI industry, with the world’s largest tech companies doubling down on AI development. Microsoft, Meta, Amazon, Alphabet, and others have committed nearly $400 billion in AI investments this fiscal year, betting on the potential for artificial intelligence to redefine industries. OpenAI itself is in talks to increase its valuation to $500 billion, a substantial increase from its current $300 billion.</p><p>Despite the impressive advances of GPT-5, Altman cautioned that true artificial general intelligence (AGI)—AI that surpasses human intelligence in a broad range of activities—remains a distant goal. He emphasised that GPT-5 is not capable of continuous learning once deployed, a crucial element for AGI. However, Altman noted that the model marks a significant step toward achieving that long-term vision, with “orders of magnitude more gains” expected in the future.</p><p>Industry experts, including Meta’s Mark Zuckerberg, have expressed optimism that AI is on the brink of ushering in a new era, with some forecasting a near future dominated by superintelligent machines. However, some experts warned that while consumer spending on AI remains robust, enterprise adoption has been slower than expected, raising questions about the return on the substantial investments pouring into the sector.</p><h2><strong>A leap in AI, but not without criticism</strong></h2><p>While many have praised GPT-5 for its impressive performance, critics argue that the jump from GPT-4 to GPT-5 isn’t as groundbreaking as previous iterations. AI expert Simon Willison commented that GPT-5 exudes competence but lacks the dramatic improvements that defined earlier versions. Meanwhile, Elon Musk, who has launched his own competing AI model, Grok 4 Heavy, argued that his model outperforms GPT-5. Despite the competition, OpenAI remains confident that GPT-5 is a significant advancement, especially when it comes to safety. The new model has been trained to produce “safe completions”, minimising risks by offering answers that are not only accurate but also responsible and free of harmful content.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The release of GPT-5 comes at a critical moment for the AI industry, with the world’s largest tech companies doubling down on AI development. Microsoft, Meta, Amazon, Alphabet, and others have committed nearly $400 billion in AI investments this fiscal year.

OpenAI has officially launched GPT-5, the latest iteration of its generative AI model, marking a major leap forward in artificial intelligence. The highly anticipated release, which debuted on August 7, promises to deliver significant advancements in coding, writing, health, and multimodal reasoning, setting the stage for even more transformative applications of AI in the real world. Available to 700 million ChatGPT users, GPT-5 is now the default model for signed-in users, replacing GPT-4 and previous versions. For the first time, it’s also accessible to free users, who will gradually gain access with lower usage limits. The model is designed to excel at both basic tasks and highly complex queries, positioning it as a powerful tool for businesses and professionals seeking more advanced capabilities. GPT-5’s expanded capabilities The improvements in GPT-5 are vast, making it a versatile solution for a wide range of applications. OpenAI CEO Sam Altman highlighted the model’s ability to serve as a “legitimate PhD-level expert” in nearly any field, particularly in coding, health-related advice, and writing. GPT-5 introduces features like vibe coding, where users can create entire software programs by simply providing written text prompts. This technology allows for rapid generation of complex software, making it a potential game-changer for industries looking to streamline development processes. In healthcare, GPT-5 performs better on medical benchmarks, providing informed support without replacing professionals. In writing, GPT-5 handles more nuanced tasks, such as free verse poetry, and is far more proficient at drafting everyday content. Additionally, its ability to tackle advanced reasoning and solve complex problems in areas like maths and science sets it apart from its predecessors. Big investments, bigger expectations The release of GPT-5 comes at a critical moment for the AI industry, with the world’s largest tech companies doubling down on AI development. Microsoft, Meta, Amazon, Alphabet, and others have committed nearly $400 billion in AI investments this fiscal year, betting on the potential for artificial intelligence to redefine industries. OpenAI itself is in talks to increase its valuation to $500 billion, a substantial increase from its current $300 billion. Despite the impressive advances of GPT-5, Altman cautioned that true artificial general intelligence (AGI)—AI that surpasses human intelligence in a broad range of activities—remains a distant goal. He emphasised that GPT-5 is not capable of continuous learning once deployed, a crucial element for AGI. However, Altman noted that the model marks a significant step toward achieving that long-term vision, with “orders of magnitude more gains” expected in the future. Industry experts, including Meta’s Mark Zuckerberg, have expressed optimism that AI is on the brink of ushering in a new era, with some forecasting a near future dominated by superintelligent machines. However, some experts warned that while consumer spending on AI remains robust, enterprise adoption has been slower than expected, raising questions about the return on the substantial investments pouring into the sector. A leap in AI, but not without criticism While many have praised GPT-5 for its impressive performance, critics argue that the jump from GPT-4 to GPT-5 isn’t as groundbreaking as previous iterations. AI expert Simon Willison commented that GPT-5 exudes competence but lacks the dramatic improvements that defined earlier versions. Meanwhile, Elon Musk, who has launched his own competing AI model, Grok 4 Heavy, argued that his model outperforms GPT-5. Despite the competition, OpenAI remains confident that GPT-5 is a significant advancement, especially when it comes to safety. The new model has been trained to produce “safe completions”, minimising risks by offering answers that are not only accurate but also responsible and free of harmful content. (With inputs from agencies)

<p>The release of GPT-5 comes at a critical moment for the AI industry, with the world’s largest tech companies doubling down on AI development. Microsoft, Meta, Amazon, Alphabet, and others have committed nearly $400 billion in AI investments this fiscal year.</p>

OpenAI launches GPT-5, amid intensifying global AI competition

<p>In a surprise move set to disrupt global bullion trade, the United States has imposed tariffs on one-kilogram and 100-ounce gold bars imported from Switzerland, a decision that could reverberate across commodity markets and sharply impact Switzerland’s multibillion-dollar gold export business. The new levies follow a July 31 ruling by US Customs and Border Protection (CBP), which reclassified these popular gold bar formats under customs code 7108.13.5500, a category now subject to tariffs. This marks a departure from prior expectations that such bars would be exempt under code 7108.12.10, the only gold product category still tariff-free under US trade rules.</p><h2><strong>Major blow to Swiss refiners</strong></h2><p>The tariff change comes just days after Washington announced a sweeping 39 per cent tariff on all Swiss imports, signalling further deterioration in US-Swiss relations. Switzerland, home to the world’s largest gold refining industry, exported $61.5 billion in gold to the US in the 12 months through June. The new ruling could slap an estimated $24 billion in additional duties on that trade volume alone.</p><p>The ruling was issued in response to a formal request for clarification by a Swiss refinery. Now, with legal certainty that one-kilo and 100-ounce bars are subject to tariffs, several refineries have paused or reduced shipments to the US, the <i>Financial Times </i>reported. Others are scrambling to consult legal experts to determine whether any bar formats still qualify for exemption.</p><h2><strong>Futures surge, supply chain squeezed</strong></h2><p>The fallout was immediate. Gold futures on New York’s Comex exchange, where one-kilo bars are the most common format, spiked as Asian markets opened on August 8. December delivery contracts soared to more than $100 an ounce above London’s spot price, reflecting rising uncertainty and potential supply disruption.</p><p>The gold trade operates through a finely balanced triangular flow: 400-ounce brick-sized bars move from London to Switzerland, where they’re recast into smaller kilo bars for the US market. That system now faces serious strain. Gold prices have already been on a historic rally, rising 27 per cent since late 2024, briefly hitting $3,500 per troy ounce, driven by inflation fears, fiscal instability, and a weakening US dollar. The new tariffs inject political risk into a market already on edge. For now, Swiss refiners are in limbo, and the broader bullion market may be only beginning to reckon with the consequences of this unexpected shift in US trade policy.</p>

Switzerland, home to the world’s largest gold refining industry, exported $61.5 billion in gold to the US in the 12 months through June. The new ruling could slap an estimated $24 billion in additional duties on that trade volume alone.

In a surprise move set to disrupt global bullion trade, the United States has imposed tariffs on one-kilogram and 100-ounce gold bars imported from Switzerland, a decision that could reverberate across commodity markets and sharply impact Switzerland’s multibillion-dollar gold export business. The new levies follow a July 31 ruling by US Customs and Border Protection (CBP), which reclassified these popular gold bar formats under customs code 7108.13.5500, a category now subject to tariffs. This marks a departure from prior expectations that such bars would be exempt under code 7108.12.10, the only gold product category still tariff-free under US trade rules. Major blow to Swiss refiners The tariff change comes just days after Washington announced a sweeping 39 per cent tariff on all Swiss imports, signalling further deterioration in US-Swiss relations. Switzerland, home to the world’s largest gold refining industry, exported $61.5 billion in gold to the US in the 12 months through June. The new ruling could slap an estimated $24 billion in additional duties on that trade volume alone. The ruling was issued in response to a formal request for clarification by a Swiss refinery. Now, with legal certainty that one-kilo and 100-ounce bars are subject to tariffs, several refineries have paused or reduced shipments to the US, the Financial Times reported. Others are scrambling to consult legal experts to determine whether any bar formats still qualify for exemption. Futures surge, supply chain squeezed The fallout was immediate. Gold futures on New York’s Comex exchange, where one-kilo bars are the most common format, spiked as Asian markets opened on August 8. December delivery contracts soared to more than $100 an ounce above London’s spot price, reflecting rising uncertainty and potential supply disruption. The gold trade operates through a finely balanced triangular flow: 400-ounce brick-sized bars move from London to Switzerland, where they’re recast into smaller kilo bars for the US market. That system now faces serious strain. Gold prices have already been on a historic rally, rising 27 per cent since late 2024, briefly hitting $3,500 per troy ounce, driven by inflation fears, fiscal instability, and a weakening US dollar. The new tariffs inject political risk into a market already on edge. For now, Swiss refiners are in limbo, and the broader bullion market may be only beginning to reckon with the consequences of this unexpected shift in US trade policy.

<p>Switzerland, home to the world’s largest gold refining industry, exported $61.5 billion in gold to the US in the 12 months through June. The new ruling could slap an estimated $24 billion in additional duties on that trade volume alone.</p>

US slaps surprise tariffs on Swiss gold bars, roiling global bullion market

<p>Oil prices showed little movement in early Asian trading on August 8 but remained on track for their steepest weekly losses since late June, driven by concerns over escalating US tariffs and weakening global demand. Brent crude futures were down by three cents to $66.40 a barrel, on course for a decline of more than 4 per cent this week. US West Texas Intermediate (WTI) crude futures also dropped by six cents, or 0.1 per cent, to $63.82 a barrel, poised to fall by over 5 per cent on a weekly basis.</p><p>The downward pressure on prices intensified after the United States implemented higher tariffs on various trade partners on August 7, which raised fears about a slowdown in global economic activity. Analysts from ANZ Bank noted that reduced economic growth would likely dampen demand for oil, further weakening the market.</p><h2><strong>OPEC+ cuts and the unwinding of output cuts</strong></h2><p>The oil market had already been reeling from the decision by OPEC+ to unwind its largest tranche of output cuts in September, months ahead of schedule. This move added additional supply to the market, contributing to the downward pressure on prices. Till August 7, WTI futures had declined for six consecutive sessions, matching a streak not seen since December 2023. If prices settle lower on August 8 as well, this will mark the longest losing streak since August 2021.</p><h2><strong>Geopolitical developments add uncertainty</strong></h2><p>Further adding to the uncertainty, the Kremlin confirmed that Russian President Vladimir Putin would soon meet US President Donald Trump, raising hopes of a potential diplomatic resolution to the ongoing war in Ukraine. Meanwhile, new US tariffs against India for purchasing Russian crude oil also kept oil prices from falling further. However, analysts from StoneX warned that this measure is unlikely to significantly reduce the flow of Russian oil to global markets.</p><p>Kuwait’s Oil Minister, Tareq Al-Roumi, also weighed in on the situation, stating that oil prices are expected to remain below $72 per barrel in the near term. Al-Roumi emphasised that both Kuwait and OPEC are closely monitoring market conditions, particularly the ongoing US tariffs and the geopolitical developments involving Russia. Meanwhile, Kuwait Petroleum Corporation CEO Shaikh Nawaf Al-Sabah revealed that the country is currently producing 2.548 million barrels per day, in line with its OPEC+ commitments, but has the capacity to increase output as needed.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The downward pressure on prices intensified after the United States implemented higher tariffs on various trade partners on August 7, which raised fears about a slowdown in global economic activity.

Oil prices showed little movement in early Asian trading on August 8 but remained on track for their steepest weekly losses since late June, driven by concerns over escalating US tariffs and weakening global demand. Brent crude futures were down by three cents to $66.40 a barrel, on course for a decline of more than 4 per cent this week. US West Texas Intermediate (WTI) crude futures also dropped by six cents, or 0.1 per cent, to $63.82 a barrel, poised to fall by over 5 per cent on a weekly basis. The downward pressure on prices intensified after the United States implemented higher tariffs on various trade partners on August 7, which raised fears about a slowdown in global economic activity. Analysts from ANZ Bank noted that reduced economic growth would likely dampen demand for oil, further weakening the market. OPEC+ cuts and the unwinding of output cuts The oil market had already been reeling from the decision by OPEC+ to unwind its largest tranche of output cuts in September, months ahead of schedule. This move added additional supply to the market, contributing to the downward pressure on prices. Till August 7, WTI futures had declined for six consecutive sessions, matching a streak not seen since December 2023. If prices settle lower on August 8 as well, this will mark the longest losing streak since August 2021. Geopolitical developments add uncertainty Further adding to the uncertainty, the Kremlin confirmed that Russian President Vladimir Putin would soon meet US President Donald Trump, raising hopes of a potential diplomatic resolution to the ongoing war in Ukraine. Meanwhile, new US tariffs against India for purchasing Russian crude oil also kept oil prices from falling further. However, analysts from StoneX warned that this measure is unlikely to significantly reduce the flow of Russian oil to global markets. Kuwait’s Oil Minister, Tareq Al-Roumi, also weighed in on the situation, stating that oil prices are expected to remain below $72 per barrel in the near term. Al-Roumi emphasised that both Kuwait and OPEC are closely monitoring market conditions, particularly the ongoing US tariffs and the geopolitical developments involving Russia. Meanwhile, Kuwait Petroleum Corporation CEO Shaikh Nawaf Al-Sabah revealed that the country is currently producing 2.548 million barrels per day, in line with its OPEC+ commitments, but has the capacity to increase output as needed. (With inputs from agencies)

<p>The downward pressure on prices intensified after the United States implemented higher tariffs on various trade partners on August 7, which raised fears about a slowdown in global economic activity.</p>

Oil prices set for steepest weekly losses since June amid tariff concerns

<p>US President Donald Trump signed an executive order on August 7 that could significantly alter the landscape of US retirement plans. The order directs federal agencies to revise regulations, allowing higher-risk alternative assets such as private equity, cryptocurrencies, and real estate to be included in 401(k) retirement accounts. This move is expected to open up new investment opportunities for American workers but has also sparked concerns over the potential risks to retirement savings. The executive order comes after years of lobbying from private equity firms and cryptocurrency advocates who have sought broader access to the $12 trillion 401(k) market.&nbsp;</p><p>Asset management giants like BlackRock and KKR stand to gain substantially from the change, which would allow them to introduce more diversified investment options to millions of workers. BlackRock, in particular, has long advocated for opening up private equity to regular investors, arguing that it could provide market-beating returns. While private equity investments, which typically involve stakes in privately held companies, have historically been reserved for wealthy individuals and institutional investors, Trump’s order could level the playing field. Similarly, cryptocurrencies, known for their extreme volatility, could offer potentially high returns, but critics warn that they could be too risky for retirement accounts, particularly for those looking for stable, long-term growth.</p><h2><strong>Potential benefits and risks spark debate</strong></h2><p>“Expanding access to investments long out of reach will help ensure millions of Americans build stronger, more diversified portfolios,” Jaime Magyera, BlackRock’s head of retirement, said in a statement. The company plans to launch its own retirement fund next year that includes private equity and private credit assets. However, not everyone is convinced that these alternatives are suitable for the average American worker’s retirement plan. Some financial experts argue that private equity and cryptocurrencies could expose investors to unnecessary risks.&nbsp;</p><p>Private equity, for example, often charges hefty fees, typically 2 per cent annually, plus a share of profits, which could eat into the returns of retirement investors. Moreover, these investments are illiquid, meaning they cannot be easily sold if investors need access to cash. In contrast, traditional stock and bond investments in 401(k) plans are much more liquid and accessible.</p><p>Cryptocurrency, on the other hand, is a newer and far more volatile asset class. While certain cryptocurrencies like Bitcoin have delivered impressive returns in recent years, they lack a proven long-term track record. Critics argue that incorporating such assets into retirement plans could jeopardise workers' financial futures, particularly if the market faces another significant downturn.</p><p>Supporters of the move, including crypto executives and private equity firms, argue that the current system restricts everyday investors from accessing the same high-return opportunities enjoyed by the wealthy. Cryptocurrency companies like Coinbase, which have heavily supported Trump’s 2024 campaign, are eager to capitalise on this shift, viewing it as a step toward legitimising the sector in the eyes of mainstream investors.</p><p>While the executive order sets the stage for expanded investment options, it could take months, or even years, for regulations to be rewritten and new funds to be created. In the meantime, retirement plan providers have expressed caution, emphasising the need for proper education on the risks and rewards associated with these new investment vehicles. Trump’s order represents a significant shift in how Americans save for retirement. While the potential rewards are high, the risks associated with private equity and cryptocurrencies may cause some investors to think twice before jumping into these new options.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The order directs federal agencies to revise regulations, allowing higher-risk alternative assets such as private equity, cryptocurrencies, and real estate to be included in 401(k) retirement accounts. This move is expected to open up new investment opportunities for American workers. 

US President Donald Trump signed an executive order on August 7 that could significantly alter the landscape of US retirement plans. The order directs federal agencies to revise regulations, allowing higher-risk alternative assets such as private equity, cryptocurrencies, and real estate to be included in 401(k) retirement accounts. This move is expected to open up new investment opportunities for American workers but has also sparked concerns over the potential risks to retirement savings. The executive order comes after years of lobbying from private equity firms and cryptocurrency advocates who have sought broader access to the $12 trillion 401(k) market. Asset management giants like BlackRock and KKR stand to gain substantially from the change, which would allow them to introduce more diversified investment options to millions of workers. BlackRock, in particular, has long advocated for opening up private equity to regular investors, arguing that it could provide market-beating returns. While private equity investments, which typically involve stakes in privately held companies, have historically been reserved for wealthy individuals and institutional investors, Trump’s order could level the playing field. Similarly, cryptocurrencies, known for their extreme volatility, could offer potentially high returns, but critics warn that they could be too risky for retirement accounts, particularly for those looking for stable, long-term growth. Potential benefits and risks spark debate “Expanding access to investments long out of reach will help ensure millions of Americans build stronger, more diversified portfolios,” Jaime Magyera, BlackRock’s head of retirement, said in a statement. The company plans to launch its own retirement fund next year that includes private equity and private credit assets. However, not everyone is convinced that these alternatives are suitable for the average American worker’s retirement plan. Some financial experts argue that private equity and cryptocurrencies could expose investors to unnecessary risks. Private equity, for example, often charges hefty fees, typically 2 per cent annually, plus a share of profits, which could eat into the returns of retirement investors. Moreover, these investments are illiquid, meaning they cannot be easily sold if investors need access to cash. In contrast, traditional stock and bond investments in 401(k) plans are much more liquid and accessible. Cryptocurrency, on the other hand, is a newer and far more volatile asset class. While certain cryptocurrencies like Bitcoin have delivered impressive returns in recent years, they lack a proven long-term track record. Critics argue that incorporating such assets into retirement plans could jeopardise workers' financial futures, particularly if the market faces another significant downturn. Supporters of the move, including crypto executives and private equity firms, argue that the current system restricts everyday investors from accessing the same high-return opportunities enjoyed by the wealthy. Cryptocurrency companies like Coinbase, which have heavily supported Trump’s 2024 campaign, are eager to capitalise on this shift, viewing it as a step toward legitimising the sector in the eyes of mainstream investors. While the executive order sets the stage for expanded investment options, it could take months, or even years, for regulations to be rewritten and new funds to be created. In the meantime, retirement plan providers have expressed caution, emphasising the need for proper education on the risks and rewards associated with these new investment vehicles. Trump’s order represents a significant shift in how Americans save for retirement. While the potential rewards are high, the risks associated with private equity and cryptocurrencies may cause some investors to think twice before jumping into these new options. (With inputs from agencies)

<p>The order directs federal agencies to revise regulations, allowing higher-risk alternative assets such as private equity, cryptocurrencies, and real estate to be included in 401(k) retirement accounts. This move is expected to open up new investment opportunities for American workers.&nbsp;</p>

Trump’s executive order opens door for riskier investments in 401(k) plans

<p>AI coding startup Cognition, which bought Windsurf almost a month ago, has issued an ultimatum to the 200 people at the company, telling them either agree to working 80 hours a week, or take a buyout and quit now. The company is in no mood to play ball with the trend of work-life balance, admitting that it doesn't believe in the concept. Cognition had already removed 30 employees from the Windsurf team last week. The Information has gained access to an email sent to the remaining staff members, who must decide between working weekends and long hours or taking a buyout with a nine-month salary. They need to decide by August 10, as per the outlet. Cognition CEO Scott Wu wrote in an email, "We don't believe in work-life balance — building the future of software engineering is a mission we all care so deeply about that we couldn't possibly separate the two." Wu is extremely clear that at Cognition, work is the topmost priority, and everyone who joins the company is delivered the message loud and clear at the outset. Also Read: <a href="https://www.wionews.com/trending/swedish-company-gives-masturbation-break-to-its-staff-1753760328714"><strong>'An apple a day...': A Swedish company gives 30-minute masturbation break to its staff. Here's why</strong></a></p><h2><strong>Wu says everyone at Cognition works late and weekends</strong></h2><p>Wu also posted a message on X on Tuesday, stating that Cognition “has an extreme performance culture”. Working weekends and late into the night is the norm at the company, something they do not hide. Hiring is also done with all the cards on the table, and applicants are aware of how things work at Cognition. Wu wrote, "We routinely are at the office through the weekend and do some of our best work late into the night." He added that most of the staff literally live at work, and "we understand it's not for everyone." Current market norms suggest that most buyouts start at four weeks, with an additional week for each year the employee has been at the company. Cognition is clear about its demands and is offering a higher buyout because of it. Also Read: <a href="https://www.wionews.com/world/tesla-gives-30bn-of-shares-to-elon-musk-after-he-threatens-to-leave-world-s-wealthiest-man-to-be-even-richer-1754311903423"><strong>Tesla gives $30bn of shares to Elon Musk after he threatens to leave</strong></a></p><p>&nbsp;</p>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">People have asked about our culture and recent employee communications. Cognition has an extreme performance culture, and we’re upfront about this in hiring so there are no surprises later. We routinely are at the office through the weekend and do some of our best work late into…</p>&mdash; Scott Wu (@ScottWu46) <a href="https://twitter.com/ScottWu46/status/1952776198947520659?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>&nbsp;</p><p>Windsurf boasts of an AI code editor that it says is the "most powerful way to code with AI" and is reportedly used by over a million people globally. Cognition also claims a breakthrough in AI, stating that it has built the first AI software engineer that can work independently and use Slack and GitHub to engage with users. The startup became a unicorn following a funding round earlier this year, which increased its valuation to $4 billion. Meanwhile, Windsurf went through turbulent times, as acquisition deals fell apart. First, it was in talks with OpenAI for a $3 billion acquisition. However, the deal didn't reach fruition, after which Google stepped in. It agreed to a $2.4 billion deal for nonexclusive licensing rights to Windsurf's technology. CEO Varun Mohan, co-founder Douglas Chen and a few others joined Google.</p>

Cognition, an AI coding startup, has told 200 employees at Windsurf to choose between a buyout or sacrificing their personal lives at the altar of work. The former took over Windsurf and wants everyone to work weekends and late nights, or quit now.  

AI coding startup Cognition, which bought Windsurf almost a month ago, has issued an ultimatum to the 200 people at the company, telling them either agree to working 80 hours a week, or take a buyout and quit now. The company is in no mood to play ball with the trend of work-life balance, admitting that it doesn't believe in the concept. Cognition had already removed 30 employees from the Windsurf team last week. The Information has gained access to an email sent to the remaining staff members, who must decide between working weekends and long hours or taking a buyout with a nine-month salary. They need to decide by August 10, as per the outlet. Cognition CEO Scott Wu wrote in an email, "We don't believe in work-life balance — building the future of software engineering is a mission we all care so deeply about that we couldn't possibly separate the two." Wu is extremely clear that at Cognition, work is the topmost priority, and everyone who joins the company is delivered the message loud and clear at the outset. Also Read: 'An apple a day...': A Swedish company gives 30-minute masturbation break to its staff. Here's why Wu says everyone at Cognition works late and weekends Wu also posted a message on X on Tuesday, stating that Cognition “has an extreme performance culture”. Working weekends and late into the night is the norm at the company, something they do not hide. Hiring is also done with all the cards on the table, and applicants are aware of how things work at Cognition. Wu wrote, "We routinely are at the office through the weekend and do some of our best work late into the night." He added that most of the staff literally live at work, and "we understand it's not for everyone." Current market norms suggest that most buyouts start at four weeks, with an additional week for each year the employee has been at the company. Cognition is clear about its demands and is offering a higher buyout because of it. Also Read: Tesla gives $30bn of shares to Elon Musk after he threatens to leave

<p>Cognition, an AI coding startup, has told 200 employees at Windsurf to choose between a buyout or sacrificing their personal lives at the altar of work. The former took over Windsurf and wants everyone to work weekends and late nights, or quit now. &nbsp;</p>

AI startup that doesn't believe in work-life balance issues ultimatum: Be ready to work weekends and late nights or quit now

Amid intensifying geopolitical risks and global trade uncertainty, the RBI on Tuesday announced that it will maintain the repo rate steady at 5.5% retaining its neutral monetary policy stance. These are the key highlights of the RBI’s August 2025 Monetary Policy meeting.

<p>Amid intensifying geopolitical risks and global trade uncertainty, the RBI on Tuesday announced that it will maintain the repo rate steady at 5.5% retaining its neutral monetary policy stance. These are the key highlights of the RBI’s August 2025 Monetary Policy meeting.</p>

What changed and what didn't? Here are key highlights from RBI’s August 2025 Monetary Policy meet

<p>Donald Trump is bashing India daily with tariff threats over energy and defence trade with Russia and the inconclusive trade talks, but did you know that the US president's real estate empire, the Trump Organization, has the largest investments outside his country in India? Even as Trump called India a ‘dead economy’, those projects are minting millions of dollars, that too with practically no direct cash investment from him. Wonder how? read on:</p>

<h2>India is Trump Organization's top global playground</h2><p>With 13 projects across six cities, India is where Trump’s real estate brand is shining the brightest outside America, with more projects than any other nation. Yet, Trump doesn’t actually invest big bucks in India. His firm is mostly licensing out his name and cashing in on the brand hype: no huge capital risk, just fat royalty checks.</p><p>&nbsp;</p><p><a href="https://www.wionews.com/videos/trump-team-highlights-indias-high-tariffs-8916254/embed">https://www.wionews.com/videos/trump-team-highlights-indias-high-tariffs-8916254/embed</a></p><h2>Snapshot of Trump Organization’s India projects, its biggest overseas market</h2><p>There are 13 Trump-branded projects in India in different stages of completion, way more than any other foreign country. Here is how it works: Indian developers build the towers, offices, and golf courses named after Trump. Trump Organization slaps his name on them and gets paid a cut in the form of licensing fees and sales royalties.&nbsp;</p><h2>Trump Towers and more: Size, value and bling in India</h2><p>There are four Trump Towers in India: in Mumbai, Pune, Gurgaon and Kolkata, covering about 3 million sqare feet. Some 8 million sq ft are under development in Noida, Hyderabad, Bengaluru, among others, bringing the total to a staggering 11 million sq ft.&nbsp;</p><p>And the price tag? Existing towers are estimated to be worth around ₹7,500 crore ($900 million). Upcoming projects are valued at around ₹15,000 crore ($1.8 billion). The total, thus, adds up to a whopping ₹22,500 crore ($2.7 billion).</p><h2>Brand Trump sells at a premium in India&nbsp;</h2><p>According to reports in Indian and American media, Trump-branded projects in India come with premium price tags, selling at an eye-popping 35 per cent above local rivals.</p><p>They include a 75-storey luxury tower in Mumbai that boasts of Trump Card exclusives. The Trump commercial project in Pune has office towers and retail space, with investments (by the local partners of course) estimated at ₹1,700 crore.<br>In the northern Gurgaon city, the twin luxury towers and an office tower called Trump Residences sold out on day one, raking in ₹3,250 crore.<br>In Kolkata, which saw Trump’s eastern India debut, a luxury residential project is underway. And coming soon are golf courses, villas, and mega-projects in Noida, Hyderabad, Bengaluru, Gurgaon and Pune.</p><h2>How Trump real estate makes money in India</h2><p>If reports in Indian media are to go by, there's zero direct investment from Trump Organization. He just licenses his brand. The licensing and development fees alone was $12 million in 2024, claimed the reports. But it's not all rosy for Trump real estate biz in India. Trump’s deals with politically connected Indian developers have in the past raised conflict-of-interest alarms in the US. The Pune project was hit with a land acquisition probe.</p><h2>So, who's Trump fooling with ‘dead economy jibe’ at India?</h2><p>Trump’s attack on India, calling it a “dead economy” rings hollow given the aggressive Indian expansion spree of the real estate firm that bears his name.</p><p>India’s Trump-branded properties are being lapped up, and growing fast, making the nation Trump’s biggest global playground. Trump Organization’s brand power is selling luxury homes and offices at a premium, raking in billions, without him shelling out any serious dole. So, next time Trump bashes the Indian economy, take it with a pinch of salt.</p><p>&nbsp;</p>

India’s Trump-branded properties are being lapped up, and growing fast, making the nation Trump’s biggest global playground outside the US. Trump Organization’s brand power is selling luxury homes and offices at a premium, raking in billions

Donald Trump is bashing India daily with tariff threats over energy and defence trade with Russia and the inconclusive trade talks, but did you know that the US president's real estate empire, the Trump Organization, has the largest investments outside his country in India? Even as Trump called India a ‘dead economy’, those projects are minting millions of dollars, that too with practically no direct cash investment from him. Wonder how? read on:

<p>India’s Trump-branded properties are being lapped up, and growing fast, making the nation Trump’s biggest global playground outside the US. Trump Organization’s brand power is selling luxury homes and offices at a premium, raking in billions</p>

Who is he fooling? 13 projects, zero cash investment, Trump’s biggest real estate empire outside US is in India, the country he bashes daily

<p>The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday (Aug 6) decided to keep the policy repo rate unchanged at 5.5 per cent, announced RBI Governor Sanjay Malhotra, adding that the neutral stance will continue. The decision was taken after a careful review of the latest economic and financial conditions by the MPC on the 4th, 5th, and 6th of August. “...Over the medium term, the Indian economy holds bright prospects in the changing world order, drawing on its inherent strengths…”, said Malhotra, adding that the decision to keep the Liquidity Adjustment Facility at 5.5 per cent was taken unanimously by the six MPC members.</p><p>Governor Malhotra noted that the economic outlook looks positive and said, “The monsoon season is progressing well, and the upcoming festival season usually increases economic activity. Combined with supportive government and RBI policies, this situation bodes well for the Indian economy in the near term.”</p><h2><strong>RBI breaks its streak</strong></h2><p>By keeping the repo rate unchanged, the RBI has broken its streak. This is the first time since December 2024 that the Indian central bank has kept the rate unchanged. Previously, at RBI's June policy meeting, the MPC had reduced the repo rate by 50 basis points, bringing it to the current 5.5 per cent. At the time, the reason for the rate cut was stated as the easing of inflation.&nbsp;</p><h2><strong>Retail inflation lowest in six years</strong></h2><p>Retail inflation in India has continued to fall and has now reached its lowest level in over six years, reports ANI. According to the Ministry of Statistics, the year-on-year inflation rate based on the Consumer Price Index (CPI) for the month of June was 2.10 per cent (provisional). This was a drop of 72 basis points compared to May 2025. It also happens to be the lowest CPI inflation rate since January 2019.<br>Food prices have also dropped. June's Consumer Food Price Index (CFPI) registered a year-on-year inflation rate of (-) 1.06 per cent (provisional). Meanwhile, in rural areas, the food inflation rate was (-) 0.92 per cent, and in urban areas, it was (-) 1.22 per cent. Negative wholesale inflation has also been observed. The Ministry of Commerce and Industry reported that the Wholesale Price Index (WPI) for June was (-) 0.13 per cent, a decrease from May's 0.39 per cent. The negative WPI was attributed to decreased prices in food items, mineral oils, basic metals, crude petroleum, and natural gas.</p><p>&nbsp;</p>

RBI keeps repo rate unchanged at 5.5% amid Trump tariff threat

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday (Aug 6) decided to keep the policy repo rate unchanged at 5.5 per cent, announced RBI Governor Sanjay Malhotra, adding that the neutral stance will continue. The decision was taken after a careful review of the latest economic and financial conditions by the MPC on the 4th, 5th, and 6th of August. “...Over the medium term, the Indian economy holds bright prospects in the changing world order, drawing on its inherent strengths…”, said Malhotra, adding that the decision to keep the Liquidity Adjustment Facility at 5.5 per cent was taken unanimously by the six MPC members. Governor Malhotra noted that the economic outlook looks positive and said, “The monsoon season is progressing well, and the upcoming festival season usually increases economic activity. Combined with supportive government and RBI policies, this situation bodes well for the Indian economy in the near term.” RBI breaks its streak By keeping the repo rate unchanged, the RBI has broken its streak. This is the first time since December 2024 that the Indian central bank has kept the rate unchanged. Previously, at RBI's June policy meeting, the MPC had reduced the repo rate by 50 basis points, bringing it to the current 5.5 per cent. At the time, the reason for the rate cut was stated as the easing of inflation. Retail inflation lowest in six years Retail inflation in India has continued to fall and has now reached its lowest level in over six years, reports ANI. According to the Ministry of Statistics, the year-on-year inflation rate based on the Consumer Price Index (CPI) for the month of June was 2.10 per cent (provisional). This was a drop of 72 basis points compared to May 2025. It also happens to be the lowest CPI inflation rate since January 2019. Food prices have also dropped. June's Consumer Food Price Index (CFPI) registered a year-on-year inflation rate of (-) 1.06 per cent (provisional). Meanwhile, in rural areas, the food inflation rate was (-) 0.92 per cent, and in urban areas, it was (-) 1.22 per cent. Negative wholesale inflation has also been observed. The Ministry of Commerce and Industry reported that the Wholesale Price Index (WPI) for June was (-) 0.13 per cent, a decrease from May's 0.39 per cent. The negative WPI was attributed to decreased prices in food items, mineral oils, basic metals, crude petroleum, and natural gas.

<p>RBI keeps repo rate unchanged at 5.5% amid Trump tariff threat</p>

<p>Over the last 25 years, trade between India and Latin America has grown nine-fold, rising from $2 billion in the year 2000 to almost $18 billion in 2025, said Raj Kumar Sharma, CEO of the Indo-Latin American Chamber of Commerce (ILACC). Speaking to WION about the potential for further expanding Indo-Latam investments, Sharma said that Latin American countries are looking to invest $2 billion in India by 2028, whereas India is likely to invest a larger sum in the region. A facilitator of bilateral trade and commerce, the ILACC is recognised by the Indian Ministry of External Affairs (MEA) and Ministry of Commerce (MOC).</p><p>&nbsp;</p><p>Recently, the ILACC launched its South India chapter, with a focus towards facilitating deeper engagement between Latin America and the Southern Indian States. The conclave witnessed the participation of entrepreneurs, industry leaders, trade envoys, and ambassadors from Latin American nations, including Peru, Cuba, El Salvador, Venezuela, Uruguay, Chile, and Argentina.&nbsp;</p><p>The event featured high-level discussions, business partnership sessions, and panel dialogues aimed at enhancing trade, diplomacy and forging partnerships in sectors such as agriculture, energy, technology, healthcare, education, pharmaceuticals, and infrastructure.&nbsp;</p><p>&nbsp;</p><p>Addressing the event, officials emphasized on the need to move from North-South corridors and to focus on Global South connectivity. Among the prospective corridors discussed were Chennai-Caracas, Bengaluru-Buenos Aires, Mumbai-Lima. Representatives from Latin American nations said that India’s vast energy requirements could be supported by oil and natural gas and renewable energy solutions from the Latam region.</p><p>&nbsp;</p><p>Listing out the areas of potential cooperation, it was said that India could work with Cuba on pharma and biotechnology to develop affordable drugs for global south, Uruguay’s forward-looking policies and strategic location could prove attractive for Indian investments, Argentina can contribute in terms of mining and renewable energy, Peru welcomes partnership in the textile and agriculture sectors, El Salvador in digital transformation technologies, and Honduras in textiles and sustainable development.</p><p>&nbsp;</p><p>ILACC highlighted that 1.6% of overall Indian imports come from Latin America, whereas India contributed to 2% of overall imports by Latin America. Pharma, agro, chemicals, EV industries, engineering goods, automobiles, and automobile parts are among the major areas where there is potential for India to export to Latam region, industry estimates say. Further, in the high-tech areas, India can also contribute in space tech, biotech, and fintech.</p>

Latin American countries are looking to invest $2 billion in India by 2028, whereas India is likely to invest a larger sum in the region, said the CEO of the Indo-Latin American Chamber of Commerce (ILACC), a facilitator of bilateral trade and commerce.

Over the last 25 years, trade between India and Latin America has grown nine-fold, rising from $2 billion in the year 2000 to almost $18 billion in 2025, said Raj Kumar Sharma, CEO of the Indo-Latin American Chamber of Commerce (ILACC). Speaking to WION about the potential for further expanding Indo-Latam investments, Sharma said that Latin American countries are looking to invest $2 billion in India by 2028, whereas India is likely to invest a larger sum in the region. A facilitator of bilateral trade and commerce, the ILACC is recognised by the Indian Ministry of External Affairs (MEA) and Ministry of Commerce (MOC). Recently, the ILACC launched its South India chapter, with a focus towards facilitating deeper engagement between Latin America and the Southern Indian States. The conclave witnessed the participation of entrepreneurs, industry leaders, trade envoys, and ambassadors from Latin American nations, including Peru, Cuba, El Salvador, Venezuela, Uruguay, Chile, and Argentina. The event featured high-level discussions, business partnership sessions, and panel dialogues aimed at enhancing trade, diplomacy and forging partnerships in sectors such as agriculture, energy, technology, healthcare, education, pharmaceuticals, and infrastructure. Addressing the event, officials emphasized on the need to move from North-South corridors and to focus on Global South connectivity. Among the prospective corridors discussed were Chennai-Caracas, Bengaluru-Buenos Aires, Mumbai-Lima. Representatives from Latin American nations said that India’s vast energy requirements could be supported by oil and natural gas and renewable energy solutions from the Latam region. Listing out the areas of potential cooperation, it was said that India could work with Cuba on pharma and biotechnology to develop affordable drugs for global south, Uruguay’s forward-looking policies and strategic location could prove attractive for Indian investments, Argentina can contribute in terms of mining and renewable energy, Peru welcomes partnership in the textile and agriculture sectors, El Salvador in digital transformation technologies, and Honduras in textiles and sustainable development. ILACC highlighted that 1.6% of overall Indian imports come from Latin America, whereas India contributed to 2% of overall imports by Latin America. Pharma, agro, chemicals, EV industries, engineering goods, automobiles, and automobile parts are among the major areas where there is potential for India to export to Latam region, industry estimates say. Further, in the high-tech areas, India can also contribute in space tech, biotech, and fintech.

<p>Latin American countries are looking to invest $2 billion in India by 2028, whereas India is likely to invest a larger sum in the region, said the CEO of the Indo-Latin American Chamber of Commerce (ILACC), a facilitator of bilateral trade and commerce.</p>

India-Latin America trade grew 9-fold in 25 years: Industry body

<p>Global mergers and acquisitions (M&amp;A) have reached $2.6 trillion in value in the first seven months of 2025, marking the highest total since the pandemic-era surge in 2021. Despite a 16 per cent drop in the number of transactions compared to the same period last year, the overall value of deals has risen by 28 per cent, according to Dealogic data. The sharp increase in deal value is largely driven by large-scale “megadeals”, particularly in the United States, where deals exceeding $10 billion have been prominent. Key transactions fuelling this growth include Union Pacific Corp's proposed $85 billion acquisition of rival Norfolk Southern and OpenAI’s $40 billion funding round, led by SoftBank Group. These deals have helped offset the effects of previous geopolitical uncertainties, including US tariffs, and have given a significant boost to global dealmaking.</p><h2><strong>Shift towards growth-oriented deals amid political uncertainty</strong></h2><p>The sharp rise in M&amp;A activity this year follows a period of uncertainty triggered by US President Donald Trump’s tariffs and the broader geopolitical climate. Companies initially held back from dealmaking as they navigated the turbulence created by these factors. However, as market conditions have stabilised and renewed confidence has returned to corporate boardrooms, deal rationale has shifted from defensive to growth-oriented.</p><p>While the pace of dealmaking is still below the historic highs of 2021, when pandemic-related rebounds led to a record-breaking $3.57 trillion in global deal value, the current surge signals renewed optimism. Despite a nearly $1 trillion gap compared to 2021’s record, financial industry insiders, including dealmakers at JPMorgan, believe that more large deals are on the horizon as executives adapt to ongoing market volatility.</p><h2><strong>AI and technology set to drive continued M&amp;A activity</strong></h2><p>Technology and artificial intelligence (AI) are expected to remain key drivers of M&amp;A activity in the second half of 2025. The increasing demand for AI solutions has led to a surge in deals within the computer, electronics, and data centre sectors. A notable example includes Samsung’s $1.7 billion acquisition of FlaktGroup, a German data centre cooling specialist, highlighting the importance of infrastructure that supports AI-driven data needs.</p><p>Cybersecurity has also been a significant focus, with Palo Alto Networks’ $25 billion deal to acquire Israeli cybersecurity company CyberArk, marking the largest deal in the Europe, Middle East, and Africa (EMEA) region this year. The growing threats posed by AI-driven cyberattacks are pushing companies to bolster their defence strategies, further fuelling the demand for M&amp;A in this space.</p><p>Private equity has also re-entered the scene, which had previously been sidelined during the early stages of the pandemic. For instance, Sycamore Partners made a $10 billion offer to take Walgreens Boots Alliance private, while private equity firms KKR and Advent made competing offers for UK-based scientific instrument maker Spectris.</p><h2><strong>US dominates M&amp;A market as Asia Pacific overtakes EMEA</strong></h2><p>The US remains the largest market for M&amp;A, accounting for more than half of the global deal activity. However, Asia Pacific has shown remarkable growth, with dealmaking doubling compared to the same period last year, surpassing the EMEA region in the process. This trend underscores the increasingly dynamic role that Asia-Pacific economies are playing in global M&amp;A.</p><p>Despite the challenges posed by ongoing uncertainty, the global M&amp;A landscape remains resilient, with many companies focused on securing growth opportunities, particularly in the technology and AI sectors. As the year progresses, dealmakers expect further large-scale transactions, especially as businesses continue to adjust to the evolving global economic environment.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The sharp increase in deal value is largely driven by large-scale megadeals, particularly in the US, where deals exceeding $10 billion have been prominent. These megadeals have helped offset the effects of previous geopolitical uncertainties and have given a boost to global dealmaking.

Global mergers and acquisitions (M&A) have reached $2.6 trillion in value in the first seven months of 2025, marking the highest total since the pandemic-era surge in 2021. Despite a 16 per cent drop in the number of transactions compared to the same period last year, the overall value of deals has risen by 28 per cent, according to Dealogic data. The sharp increase in deal value is largely driven by large-scale “megadeals”, particularly in the United States, where deals exceeding $10 billion have been prominent. Key transactions fuelling this growth include Union Pacific Corp's proposed $85 billion acquisition of rival Norfolk Southern and OpenAI’s $40 billion funding round, led by SoftBank Group. These deals have helped offset the effects of previous geopolitical uncertainties, including US tariffs, and have given a significant boost to global dealmaking. Shift towards growth-oriented deals amid political uncertainty The sharp rise in M&A activity this year follows a period of uncertainty triggered by US President Donald Trump’s tariffs and the broader geopolitical climate. Companies initially held back from dealmaking as they navigated the turbulence created by these factors. However, as market conditions have stabilised and renewed confidence has returned to corporate boardrooms, deal rationale has shifted from defensive to growth-oriented. While the pace of dealmaking is still below the historic highs of 2021, when pandemic-related rebounds led to a record-breaking $3.57 trillion in global deal value, the current surge signals renewed optimism. Despite a nearly $1 trillion gap compared to 2021’s record, financial industry insiders, including dealmakers at JPMorgan, believe that more large deals are on the horizon as executives adapt to ongoing market volatility. AI and technology set to drive continued M&A activity Technology and artificial intelligence (AI) are expected to remain key drivers of M&A activity in the second half of 2025. The increasing demand for AI solutions has led to a surge in deals within the computer, electronics, and data centre sectors. A notable example includes Samsung’s $1.7 billion acquisition of FlaktGroup, a German data centre cooling specialist, highlighting the importance of infrastructure that supports AI-driven data needs. Cybersecurity has also been a significant focus, with Palo Alto Networks’ $25 billion deal to acquire Israeli cybersecurity company CyberArk, marking the largest deal in the Europe, Middle East, and Africa (EMEA) region this year. The growing threats posed by AI-driven cyberattacks are pushing companies to bolster their defence strategies, further fuelling the demand for M&A in this space. Private equity has also re-entered the scene, which had previously been sidelined during the early stages of the pandemic. For instance, Sycamore Partners made a $10 billion offer to take Walgreens Boots Alliance private, while private equity firms KKR and Advent made competing offers for UK-based scientific instrument maker Spectris. US dominates M&A market as Asia Pacific overtakes EMEA The US remains the largest market for M&A, accounting for more than half of the global deal activity. However, Asia Pacific has shown remarkable growth, with dealmaking doubling compared to the same period last year, surpassing the EMEA region in the process. This trend underscores the increasingly dynamic role that Asia-Pacific economies are playing in global M&A. Despite the challenges posed by ongoing uncertainty, the global M&A landscape remains resilient, with many companies focused on securing growth opportunities, particularly in the technology and AI sectors. As the year progresses, dealmakers expect further large-scale transactions, especially as businesses continue to adjust to the evolving global economic environment. (With inputs from agencies)

<p>The sharp increase in deal value is largely driven by large-scale megadeals, particularly in the US, where deals exceeding $10 billion have been prominent. These megadeals have helped offset the effects of previous geopolitical uncertainties and have given a boost to global dealmaking.</p>

Global dealmaking hits $2.6 trillion in 2025, boosted by AI and growth-focused M&A activity

<p>The European Union announced on Monday that it will suspend its planned countermeasures against US tariffs for six months. This move follows a tariff deal struck between EU Commission President Ursula von der Leyen and US President Donald Trump on July 27, aiming to ease trade tensions between the two major economic blocs. The countermeasures, which were set to take effect on August 7, targeted around €93 billion worth of US goods, including soybeans, aircraft, and bourbon whiskey. “The Commission will take the necessary steps to suspend for six months the EU’s countermeasures against the US,” an EU spokesperson said, highlighting the ongoing negotiations to finalise a Joint Statement. The pause on the retaliatory tariffs is expected to come into effect by August 5.</p><h2><strong>Progress, but issues remain</strong></h2><p>While the suspension marks a positive step in restoring trade stability between the EU and the US, the dispute is far from over. Several critical issues remain unresolved, including the exclusion of the EU automotive industry from tariff relief, which continues to face 25 per cent tariffs. Additionally, the US Executive Order announced on July 31 does not provide relief for certain strategic sectors, such as aircraft manufacturing.</p><p>The EU’s move to delay its countermeasures represents a significant concession from one of the US’s largest trading partners. Under the deal, the US agreed to reduce its tariff rate to 15 per cent on most European goods. However, the EU has expressed concerns over the specifics of the deal, particularly the lack of clarity on investment commitments. The US also committed to buying $750 billion worth of energy from the EU, but it remains unclear how this will be executed.</p><h2><strong>Uncertainty surrounds future negotiations</strong></h2><p>As the EU and US continue their discussions, the trade deal remains politically significant but legally non-binding. The deal paves the way for further negotiations, with the EU expected to continue pushing for tariff exemptions and other trade reliefs for critical sectors. This development comes as President Trump’s trade agenda faces renewed scrutiny, with the new tariffs on more than 60 countries set to begin on August 7, marking another major chapter in the global trade landscape.</p>

The EU’s move to delay its countermeasures represents a significant concession from one of the US’s largest trading partners. Under the deal, the US agreed to reduce its tariff rate to 15 per cent on most European goods.

The European Union announced on Monday that it will suspend its planned countermeasures against US tariffs for six months. This move follows a tariff deal struck between EU Commission President Ursula von der Leyen and US President Donald Trump on July 27, aiming to ease trade tensions between the two major economic blocs. The countermeasures, which were set to take effect on August 7, targeted around €93 billion worth of US goods, including soybeans, aircraft, and bourbon whiskey. “The Commission will take the necessary steps to suspend for six months the EU’s countermeasures against the US,” an EU spokesperson said, highlighting the ongoing negotiations to finalise a Joint Statement. The pause on the retaliatory tariffs is expected to come into effect by August 5. Progress, but issues remain While the suspension marks a positive step in restoring trade stability between the EU and the US, the dispute is far from over. Several critical issues remain unresolved, including the exclusion of the EU automotive industry from tariff relief, which continues to face 25 per cent tariffs. Additionally, the US Executive Order announced on July 31 does not provide relief for certain strategic sectors, such as aircraft manufacturing. The EU’s move to delay its countermeasures represents a significant concession from one of the US’s largest trading partners. Under the deal, the US agreed to reduce its tariff rate to 15 per cent on most European goods. However, the EU has expressed concerns over the specifics of the deal, particularly the lack of clarity on investment commitments. The US also committed to buying $750 billion worth of energy from the EU, but it remains unclear how this will be executed. Uncertainty surrounds future negotiations As the EU and US continue their discussions, the trade deal remains politically significant but legally non-binding. The deal paves the way for further negotiations, with the EU expected to continue pushing for tariff exemptions and other trade reliefs for critical sectors. This development comes as President Trump’s trade agenda faces renewed scrutiny, with the new tariffs on more than 60 countries set to begin on August 7, marking another major chapter in the global trade landscape.

<p>The EU’s move to delay its countermeasures represents a significant concession from one of the US’s largest trading partners. Under the deal, the US agreed to reduce its tariff rate to 15 per cent on most European goods.</p>

EU suspends tariff retaliation for six months in response to US agreement

<p>Google has signed agreements with two major US electric utilities, Indiana Michigan Power (I&amp;M) and Tennessee Power Authority (TVA), to reduce its AI data centre power consumption during periods of high energy demand. This partnership is part of Google’s broader strategy to address sustainability concerns while continuing its aggressive expansion in AI technologies, which are known for their significant energy consumption. Under the terms of the agreements, Google will scale back its machine learning workloads at data centres when requested by the utilities, helping to free up capacity on the grid. This approach is known as “demand response”, a strategy typically used by energy-intensive industries like manufacturing or cryptocurrency mining. In exchange, businesses involved in such programmes often receive incentives like reduced electricity costs or payments.</p><h2><strong>Managing AI’s growing energy demands</strong></h2><p>AI technologies, particularly machine learning models, consume substantial amounts of energy, sometimes tens or hundreds of megawatts over extended periods. This intense demand has raised concerns as it strains power grids already facing supply constraints. With data centres accounting for a significant portion of Google’s energy use, the company’s commitment to energy flexibility could play a key role in stabilising grid capacity during peak periods.</p><p>The collaboration with I&amp;M and TVA marks the first formal demand-response agreements Google has entered into specifically for its AI workloads. Google aims to integrate flexibility into its energy usage, enabling faster deployment of new data centres while reducing the need for new power plants and transmission infrastructure. “This will help grid operators manage power use more efficiently,” the company said in a blog post.</p><h2><strong>Balancing sustainability with growth</strong></h2><p>While Google’s approach to curtailing non-essential AI workloads during high demand offers a solution for grid stability, the company is also pursuing alternative energy sources such as wind, solar, and nuclear power to further reduce its environmental footprint. Google’s sustainability efforts also include plans for small modular reactors, underscoring the company’s drive to find innovative ways to power its data centres sustainably.</p><p>These partnerships come as Google continues to tackle the challenge of balancing rapid AI growth with environmental responsibility. Despite reducing its data centre energy emissions by 12 per cent in 2024, Google acknowledges that much more needs to be done to curb the carbon footprint of its expanding AI infrastructure.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

AI technologies, particularly machine learning models, consume substantial amounts of energy, sometimes tens or hundreds of megawatts over extended periods. This intense demand has raised concerns as it strains power grids already facing supply constraints.

Google has signed agreements with two major US electric utilities, Indiana Michigan Power (I&M) and Tennessee Power Authority (TVA), to reduce its AI data centre power consumption during periods of high energy demand. This partnership is part of Google’s broader strategy to address sustainability concerns while continuing its aggressive expansion in AI technologies, which are known for their significant energy consumption. Under the terms of the agreements, Google will scale back its machine learning workloads at data centres when requested by the utilities, helping to free up capacity on the grid. This approach is known as “demand response”, a strategy typically used by energy-intensive industries like manufacturing or cryptocurrency mining. In exchange, businesses involved in such programmes often receive incentives like reduced electricity costs or payments. Managing AI’s growing energy demands AI technologies, particularly machine learning models, consume substantial amounts of energy, sometimes tens or hundreds of megawatts over extended periods. This intense demand has raised concerns as it strains power grids already facing supply constraints. With data centres accounting for a significant portion of Google’s energy use, the company’s commitment to energy flexibility could play a key role in stabilising grid capacity during peak periods. The collaboration with I&M and TVA marks the first formal demand-response agreements Google has entered into specifically for its AI workloads. Google aims to integrate flexibility into its energy usage, enabling faster deployment of new data centres while reducing the need for new power plants and transmission infrastructure. “This will help grid operators manage power use more efficiently,” the company said in a blog post. Balancing sustainability with growth While Google’s approach to curtailing non-essential AI workloads during high demand offers a solution for grid stability, the company is also pursuing alternative energy sources such as wind, solar, and nuclear power to further reduce its environmental footprint. Google’s sustainability efforts also include plans for small modular reactors, underscoring the company’s drive to find innovative ways to power its data centres sustainably. These partnerships come as Google continues to tackle the challenge of balancing rapid AI growth with environmental responsibility. Despite reducing its data centre energy emissions by 12 per cent in 2024, Google acknowledges that much more needs to be done to curb the carbon footprint of its expanding AI infrastructure. (With inputs from agencies)

<p>AI technologies, particularly machine learning models, consume substantial amounts of energy, sometimes tens or hundreds of megawatts over extended periods. This intense demand has raised concerns as it strains power grids already facing supply constraints.</p>

Google partners with US utilities to reduce AI data centre power use

<p>India is being attacked by US President Donald Trump over its energy and defence trade with Russia, alleging it's fuelling Moscow's war with Ukraine. But Trump is hiding more than what he reveals. Many Western nations, including NATO members and the US, continue to trade in Russian energy—directly or indirectly—using exemptions, loopholes and round-tripping. The overview below focuses solely on oil and gas trade, and even that is shocking.</p><h2>Western nations, including NATO members, continue to import Russian energy</h2><p>If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas (LNG), purchasing 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas (PNG), while NATO member Turkiye bought 27 per cent. Turkiye is, in fact, the largest buyer of Russian oil products, accounting for 26 per cent of exports.</p><p>Five top EU importers of Russian fossil fuels paid Russia a total of 1.2 billion euros. Crucially, over 72 per cent of these imports were in natural gas, which the EU has not sanctioned. May be because this gas is essential for heating European homes during cold months.</p><p>Belgium, host of the EU headquarters, was the second-largest importer in June, spending 300 million euros on LNG alone—a 12 per cent increase from May. France followed, importing 232 million euros worth of Russian LNG.</p><p>Then, there’s the indirect trade. In June, more than half of Russian seaborne oil exports were transported on G7+ tankers, up from 36 per cent in January to 56 per cent. This shows Western logistical involvement in sustaining Russian exports.</p><p>&nbsp;</p><p><a href="https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed">https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed</a></p><h2>US still imports enriched uranium from Russia</h2><p>According to Rosatom Director General Alexey Likhachev, the US continues to import enriched uranium from Russia because it’s economically sensible. In 2023, Russia supplied 27 per cent of enriched uranium used by US nuclear operators—more than any other foreign supplier, he said in May this year.</p><p>This trade continues despite the US passing the Prohibiting Russian Uranium Imports Act in 2024, banning the imports from 2028 to 2040. Interestingly, waivers to this law till 2028 allow the trade to legally continue. Likhachev even claimed that ongoing discussions with the Trump administration were happening on uranium cooperation.</p><h2>Shocking details of Russia's energy trade with Western nations in spite of sanctions, Ukraine war</h2><p>The Centre for Research on Energy and Clean Air (CREA) exposed how energy trade with Russia persists through loopholes, exemptions, and re-routed supply chains. Here is a breakdown:</p><h3>European Union is still among top buyers</h3><p>The EU continues to lead in Russian LNG imports (51 per cent) and pipeline gas (37 per cent). Neither is sanctioned, which allows legal trade.</p><p>Seaborne oil and oil products continue entering Europe, despite formal bans. Crude oil flows to Hungary and Slovakia via the southern Druzhba pipeline under EU exemptions. Refined oil from Slovakia is possibly re-exported to other EU nations.</p><p>Hungary is the largest fossil fuel importer among EU countries, valued by CREA at 356 million euros in June, including 165 mn in crude oil and €191 mn in pipeline gas.<br>Slovakia imported 178 mn euros in crude oil and has been refining and re-exporting Russian crude to Czechia, till recent restrictions kicked in.<br>Netherlands bought 99 million euros worth of Russian LNG.</p><h2>Many importers from Russia are NATO members</h2><p>NATO countries like Belgium, France, Hungary, Slovakia, The Netherlands and Turkiye are among the largest importers of Russian energy.</p><p>Hungary and Slovakia exploit legal exemptions to refine and re-export Russian crude.<br>G7+ tankers, &nbsp;many from NATO nations, transport Russian seaborne oil, with 41 per cent of crude oil and 80 per cent of oil products moved by Western-owned or insured ships.</p><h2>Turkiye: The middleman playing both sides amid NATO - Russia tussle</h2><p>Turkiye was the third-largest importer of Russian fossil fuels in June this year, worth 2.3 billion euros. This included 1 billion in oil products (44 per cent of its total imports), as well as LNG and other fuels. Its Port of Ceyhan saw a 33 per cent increase in refined oil product imports, 88 per cent of which were Russian. Some of this are likely re-exported to the EU.</p><h2>Greece and Spain facilitate indirect trade</h2><p>Greek-owned tankers and G7+ maritime fleets play a significant role in shipping Russian oil, which is indirect complicity in the trade. According to CREA, EU waters saw Russian oil worth 218 million per day being moved through ship-to-ship (STS) operations in June, out of which 87 per cent used G7+ vessels.&nbsp;</p><h2>Shadow fleets and maritime loopholes</h2><p>A ‘shadow’ fleet of old, poorly insured tankers are still handling some Russian exports. Many transit EU waters under limited enforcement, using so-called "flags of convenience." G7+ vessels are increasingly conducting such STS operations to avoid scrutiny.</p><h2>So, it's not just India that prioritises economic interests</h2><p>It’s clear that India is not alone in prioritising energy security over geopolitical rhetoric. Unlike others, India is unapologetic about buying Russian oil. Western and NATO countries continue their robust energy trade with Russia, either through legal exemptions or indirect methods like refining and maritime rerouting, as explained above.</p><p>Countries such as Hungary, Slovakia, Belgium, and France remain key players in this trade despite their public posturing. G7+ tankers and facilities enable Russian fossil fuel trade, while the US quietly continues its uranium imports.</p><p>Western nations are doing exactly what they criticise others for—prioritising their own interests. In short, energy security trumps geopolitics. Trump can’t trump that.<br>&nbsp;</p>

If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas, buying up 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas

India is being attacked by US President Donald Trump over its energy and defence trade with Russia, alleging it's fuelling Moscow's war with Ukraine. But Trump is hiding more than what he reveals. Many Western nations, including NATO members and the US, continue to trade in Russian energy—directly or indirectly—using exemptions, loopholes and round-tripping. The overview below focuses solely on oil and gas trade, and even that is shocking. Western nations, including NATO members, continue to import Russian energy If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas (LNG), purchasing 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas (PNG), while NATO member Turkiye bought 27 per cent. Turkiye is, in fact, the largest buyer of Russian oil products, accounting for 26 per cent of exports. Five top EU importers of Russian fossil fuels paid Russia a total of 1.2 billion euros. Crucially, over 72 per cent of these imports were in natural gas, which the EU has not sanctioned. May be because this gas is essential for heating European homes during cold months. Belgium, host of the EU headquarters, was the second-largest importer in June, spending 300 million euros on LNG alone—a 12 per cent increase from May. France followed, importing 232 million euros worth of Russian LNG. Then, there’s the indirect trade. In June, more than half of Russian seaborne oil exports were transported on G7+ tankers, up from 36 per cent in January to 56 per cent. This shows Western logistical involvement in sustaining Russian exports. https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed US still imports enriched uranium from Russia According to Rosatom Director General Alexey Likhachev, the US continues to import enriched uranium from Russia because it’s economically sensible. In 2023, Russia supplied 27 per cent of enriched uranium used by US nuclear operators—more than any other foreign supplier, he said in May this year. This trade continues despite the US passing the Prohibiting Russian Uranium Imports Act in 2024, banning the imports from 2028 to 2040. Interestingly, waivers to this law till 2028 allow the trade to legally continue. Likhachev even claimed that ongoing discussions with the Trump administration were happening on uranium cooperation. Shocking details of Russia's energy trade with Western nations in spite of sanctions, Ukraine war The Centre for Research on Energy and Clean Air (CREA) exposed how energy trade with Russia persists through loopholes, exemptions, and re-routed supply chains. Here is a breakdown: European Union is still among top buyers The EU continues to lead in Russian LNG imports (51 per cent) and pipeline gas (37 per cent). Neither is sanctioned, which allows legal trade. Seaborne oil and oil products continue entering Europe, despite formal bans. Crude oil flows to Hungary and Slovakia via the southern Druzhba pipeline under EU exemptions. Refined oil from Slovakia is possibly re-exported to other EU nations. Hungary is the largest fossil fuel importer among EU countries, valued by CREA at 356 million euros in June, including 165 mn in crude oil and €191 mn in pipeline gas. Slovakia imported 178 mn euros in crude oil and has been refining and re-exporting Russian crude to Czechia, till recent restrictions kicked in. Netherlands bought 99 million euros worth of Russian LNG. Many importers from Russia are NATO members NATO countries like Belgium, France, Hungary, Slovakia, The Netherlands and Turkiye are among the largest importers of Russian energy. Hungary and Slovakia exploit legal exemptions to refine and re-export Russian crude. G7+ tankers, many from NATO nations, transport Russian seaborne oil, with 41 per cent of crude oil and 80 per cent of oil products moved by Western-owned or insured ships. Turkiye: The middleman playing both sides amid NATO - Russia tussle Turkiye was the third-largest importer of Russian fossil fuels in June this year, worth 2.3 billion euros. This included 1 billion in oil products (44 per cent of its total imports), as well as LNG and other fuels. Its Port of Ceyhan saw a 33 per cent increase in refined oil product imports, 88 per cent of which were Russian. Some of this are likely re-exported to the EU. Greece and Spain facilitate indirect trade Greek-owned tankers and G7+ maritime fleets play a significant role in shipping Russian oil, which is indirect complicity in the trade. According to CREA, EU waters saw Russian oil worth 218 million per day being moved through ship-to-ship (STS) operations in June, out of which 87 per cent used G7+ vessels. Shadow fleets and maritime loopholes A ‘shadow’ fleet of old, poorly insured tankers are still handling some Russian exports. Many transit EU waters under limited enforcement, using so-called "flags of convenience." G7+ vessels are increasingly conducting such STS operations to avoid scrutiny. So, it's not just India that prioritises economic interests It’s clear that India is not alone in prioritising energy security over geopolitical rhetoric. Unlike others, India is unapologetic about buying Russian oil. Western and NATO countries continue their robust energy trade with Russia, either through legal exemptions or indirect methods like refining and maritime rerouting, as explained above. Countries such as Hungary, Slovakia, Belgium, and France remain key players in this trade despite their public posturing. G7+ tankers and facilities enable Russian fossil fuel trade, while the US quietly continues its uranium imports. Western nations are doing exactly what they criticise others for—prioritising their own interests. In short, energy security trumps geopolitics. Trump can’t trump that.

<p>If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas, buying up 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas</p>

Bad if we do it, good if you do? US, West's Russia energy trade HYPOCRISY EXPOSED as Trump browbeats India with tariffs, fines

<p>&nbsp;</p><p>China’s services sector showed a significant rebound in July, expanding at its fastest pace in 14 months, driven by a combination of domestic and foreign demand, according to the latest private-sector data. The S&amp;P Global China General Services PMI rose to 52.6 in July, up from 50.6 in June, marking the highest reading since May of the previous year. The PMI reading above 50 indicates expansion, while anything below suggests contraction. The strong performance in July contrasts with China's official services PMI, which edged down to 50.0 from 50.1 in June, signalling stagnation. However, the S&amp;P Global survey, which is regarded as a more accurate gauge of trends for smaller, export-focused companies, particularly along the East Coast, paints a more optimistic picture.</p><h2><strong>Domestic stimulus and strong export orders drive growth</strong></h2><p>The rise in services activity was notably supported by a surge in new business, especially in export orders. This marks the first increase in the export orders sub-index in three months, signalling that global trade conditions may be stabilising despite ongoing trade tensions. The demand for services, including tourism and food delivery, has been robust, boosted by consumer-orientated stimulus measures from Beijing. In addition to the surge in new business, employment in the services sector also rose at its fastest pace since July 2024, driven by an uptick in workload and improved business confidence. Service providers had reduced staffing levels earlier in the year but now appear to be increasing hiring in response to stronger demand.</p><h2><strong>Inflationary pressures and rising costs for service providers</strong></h2><p>While the services sector showed resilience, the rising costs for raw materials, fuel, and labour were a concern for many businesses. As a result, service providers were forced to raise their selling prices for the first time in six months. This, in turn, resulted in slower accumulation of backlogged work, a sign of improving efficiency as demand outpaced supply. Despite positive growth in services, concerns about China’s broader economic outlook persist. The country’s manufacturing sector has struggled, with weak demand weighing heavily on factory output.&nbsp;</p><p>As a result, overall business confidence remains fragile, with a cautious outlook for the second half of the year due to potential slowdowns in exports and consumer sentiment. China’s economic recovery in the services sector has remained one of the bright spots, with strong consumer demand helping maintain positive momentum. However, the outlook for manufacturing and broader business activity will depend heavily on both domestic policy responses and external trade conditions.</p><p>&nbsp;</p><p>(<i>With inputs from agencies</i>)</p>

The rise in services activity was notably supported by a surge in new business, especially in export orders. This marks the first increase in the export orders sub-index in three months, signalling that global trade conditions may be stabilising despite ongoing trade tensions. 

China’s services sector showed a significant rebound in July, expanding at its fastest pace in 14 months, driven by a combination of domestic and foreign demand, according to the latest private-sector data. The S&P Global China General Services PMI rose to 52.6 in July, up from 50.6 in June, marking the highest reading since May of the previous year. The PMI reading above 50 indicates expansion, while anything below suggests contraction. The strong performance in July contrasts with China's official services PMI, which edged down to 50.0 from 50.1 in June, signalling stagnation. However, the S&P Global survey, which is regarded as a more accurate gauge of trends for smaller, export-focused companies, particularly along the East Coast, paints a more optimistic picture. Domestic stimulus and strong export orders drive growth The rise in services activity was notably supported by a surge in new business, especially in export orders. This marks the first increase in the export orders sub-index in three months, signalling that global trade conditions may be stabilising despite ongoing trade tensions. The demand for services, including tourism and food delivery, has been robust, boosted by consumer-orientated stimulus measures from Beijing. In addition to the surge in new business, employment in the services sector also rose at its fastest pace since July 2024, driven by an uptick in workload and improved business confidence. Service providers had reduced staffing levels earlier in the year but now appear to be increasing hiring in response to stronger demand. Inflationary pressures and rising costs for service providers While the services sector showed resilience, the rising costs for raw materials, fuel, and labour were a concern for many businesses. As a result, service providers were forced to raise their selling prices for the first time in six months. This, in turn, resulted in slower accumulation of backlogged work, a sign of improving efficiency as demand outpaced supply. Despite positive growth in services, concerns about China’s broader economic outlook persist. The country’s manufacturing sector has struggled, with weak demand weighing heavily on factory output. As a result, overall business confidence remains fragile, with a cautious outlook for the second half of the year due to potential slowdowns in exports and consumer sentiment. China’s economic recovery in the services sector has remained one of the bright spots, with strong consumer demand helping maintain positive momentum. However, the outlook for manufacturing and broader business activity will depend heavily on both domestic policy responses and external trade conditions. (With inputs from agencies)

<p>The rise in services activity was notably supported by a surge in new business, especially in export orders. This marks the first increase in the export orders sub-index in three months, signalling that global trade conditions may be stabilising despite ongoing trade tensions.&nbsp;</p>

China’s services sector expands at fastest pace in 14 months

<p>Japan's Mitsubishi Heavy Industries has secured its largest defence contract since World War II. The deal includes the supply of 11 Mogami-class frigates worth $6billion (A$10 billion) over the next decade. Australian Defence Ministry chose Mitsubishi over Germany’s ThyssenKrupp Marine Systems (TKMS), emphasising the new era of Asia Pacific Defence collaboration.&nbsp;</p><p>“This is clearly the biggest defence-industry agreement that has ever been struck between Japan and Australia,” said Australian Defence Minister Richard Marles.</p><h2>Why does Australia need these ships?</h2><p>For Australia, the decision shows a pragmatic approach to counter the Chinese threat in the Pacific. Australia wants to project itself as a naval powerhouse, with increasing patrols near Taiwan and assertive moves in the South China Sea. The 2023 Australian Defence Strategy Review (DSR) findings portrayed the Australian navy as substantially weak and poorly equipped to project power in the contested Indo-Pacific. It resulted in the growing urgency of Australia to modernise its naval fleet of major warships from 11 to 26, with an increased US$11.1 billion Defence budget. According to an Australian Defence Official, the new fleet will be used in patrolling vital trade routes, reinforcing maritime surveillance, and supporting allied operations frameworks like AUKUS and QUAD.</p><p>“The acquisition of these stealth frigates will make our navy a bigger navy, and a more lethal navy,” said Marles.&nbsp;</p><h2>Why Japan's Mogami-class frigates?</h2><p>Three of these frigates will be built in Japan, and the rest will be built in Australia in a newly constructed facility under sovereign oversight. These ships feature &nbsp;32 vertical-launch missile cells, with a range of 10000 nautical miles, enhanced stealth capacity with improved design, and reduced crew requirements as low as 90. Japan had a faster delivery timeline and a better suitability to Pacific conditions. The decision to choose Mitsubishi over Germany’s ThyssenKrupp Marine Systems also shows a growing push for regional cooperation. Japan had been a pacifist since World War 2, but now this is the largest international defence export since World War II. It is a diplomatic economic win that shows its growing role in the region as a strategic partner.</p><p>&nbsp;</p><p>&nbsp;</p>

Japan's Mitsubishi has acquired the biggest defence deal since World War II from Australia. Australia's Defence Minister says that these acquisitions will make their navy bigger and better, enhancing deterrence in the Indo-Pacific.

Japan's Mitsubishi Heavy Industries has secured its largest defence contract since World War II. The deal includes the supply of 11 Mogami-class frigates worth $6billion (A$10 billion) over the next decade. Australian Defence Ministry chose Mitsubishi over Germany’s ThyssenKrupp Marine Systems (TKMS), emphasising the new era of Asia Pacific Defence collaboration. “This is clearly the biggest defence-industry agreement that has ever been struck between Japan and Australia,” said Australian Defence Minister Richard Marles. Why does Australia need these ships? For Australia, the decision shows a pragmatic approach to counter the Chinese threat in the Pacific. Australia wants to project itself as a naval powerhouse, with increasing patrols near Taiwan and assertive moves in the South China Sea. The 2023 Australian Defence Strategy Review (DSR) findings portrayed the Australian navy as substantially weak and poorly equipped to project power in the contested Indo-Pacific. It resulted in the growing urgency of Australia to modernise its naval fleet of major warships from 11 to 26, with an increased US$11.1 billion Defence budget. According to an Australian Defence Official, the new fleet will be used in patrolling vital trade routes, reinforcing maritime surveillance, and supporting allied operations frameworks like AUKUS and QUAD. “The acquisition of these stealth frigates will make our navy a bigger navy, and a more lethal navy,” said Marles. Why Japan's Mogami-class frigates? Three of these frigates will be built in Japan, and the rest will be built in Australia in a newly constructed facility under sovereign oversight. These ships feature 32 vertical-launch missile cells, with a range of 10000 nautical miles, enhanced stealth capacity with improved design, and reduced crew requirements as low as 90. Japan had a faster delivery timeline and a better suitability to Pacific conditions. The decision to choose Mitsubishi over Germany’s ThyssenKrupp Marine Systems also shows a growing push for regional cooperation. Japan had been a pacifist since World War 2, but now this is the largest international defence export since World War II. It is a diplomatic economic win that shows its growing role in the region as a strategic partner.

<p>Japan's Mitsubishi has acquired the biggest defence deal since World War II from Australia. Australia's Defence Minister says that these acquisitions will make their navy bigger and better, enhancing deterrence in the Indo-Pacific.</p>

$6bn worth defence deal between Japan and Australia: Japan's biggest defence contract since WW2