A year after the Liberation Day tariffs, US President Donald Trump has rolled out another set of duties, this time targeting medicines and key metals. The move is aimed towards pushing companies to manufacture within the US. The new measures impose tariffs on steel, aluminium and copper, strengthening efforts to boost domestic production.The announcements come…
Oil prices rose sharply on Friday as tensions in the Middle East intensified, with the US launching more strikes on Iran, fueling concerns over the energy supply flows through the Strait of Hormuz. Brent crude, the global benchmark, climbed 7.8% to $109.03 per barrel after soaring beyond the $111 per barrel mark. At the same…
The government has asked oil refineries to divert part of the feedstock used for cooking gas (LPG) towards petrochemical units, as industries grapple with acute raw material shortages triggered by supply disruptions amid the West Asia conflict, according to PTI.The Ministry of Petroleum and Natural Gas on April 1 directed refiners to allocate a portion…
US stock markets declined sharply on Thursday, while oil prices surged, after President Donald Trump vowed to continue military action against Iran and did not provide a clear timeline for de-escalation of the conflict in the Middle East, according to AP.The S&P 500 fell 1.1%, with nearly three out of every four stocks in the…
In a move aimed at shielding passengers from sharp airfare surges, the government has capped monthly increases in aviation turbine fuel (ATF) prices for domestic flights at 25%, according to Reuters.The decision comes amid volatility in global energy markets linked to the ongoing Iran crisis, which has pushed up fuel costs and added pressure on…
The Reserve Bank of India has allowed both residents and non-residents to exchange Indian rupee notes at foreign exchange counters located in departure halls of international airports beyond immigration or customs checkpoints, according to PTI. Earlier, such counters were permitted only to buy Indian rupees from non-residents and sell foreign currency to them. “On a…
The government has introduced a series of measures to support exporters facing disruptions from the ongoing Gulf conflict, with key sectors such as gems and jewellery, rice and pharmaceuticals under pressure, PTI reported.At an inter-ministerial briefing, Director General of Foreign Trade Lav Aggarwal said the commerce ministry is working with insurers and banks to address…
The average long-term US mortgage rate has climbed for the fifth consecutive week, reaching its highest level in nearly seven months and adding to affordability challenges for homebuyers during the crucial spring housing season, according to AP.The benchmark 30-year fixed mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said. A…
NEW DELHI: In a U-turn, the civil aviation ministry Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost side pressure since the Iran war began, airlines had warned this move to curb ancillary revenue will lead to additional fare hikes.The aviation ministry had on…
As the US observes Good Friday on April 3 ahead of Easter Sunday on April 5, most essential services will continue without disruption since the day is not designated as a federal holiday.In the Christian calendar, Good Friday marks the crucifixion and death of Jesus Christ and has long been associated with mourning, penance and…
