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China will no longer claim benefits available to developing nations at the World Trade Organization, announced Chinese Premier Li Qiang. He is currently in the US to attend the United Nations General Assembly. WTO director general Ngozi Okonjo-Iweala welcomed the decision on X, calling it “a culmination of many years of hard work” and thanking…
The UAE-India Business Council (UIBC) has signed a series of strategic agreements to strengthen industry collaborations and expand trade and investment flows between India and the UAE.As part of three separate pacts, UIBC and the UAE-India CEPA Council (UICC) agreed to enhance institutional collaboration, ensuring greater coherence in advancing the objectives of the UAE-India Comprehensive…
The GST reform will progressively deliver a positive impact on the Indian economy by enhancing ease of doing business, lowering retail prices and strengthening consumption growth drivers, according to an article in the Reserve Bank of India’s September Bulletin.The bulletin said global uncertainty remained elevated in the wake of US tariffs on major trading partners…
US energy secretary Chris Wright on Wednesday urged India to reconsider its imports of Russian oil, saying that the country has plenty of alternative sources. Speaking to ANI, he alleged that buying Russian oil indirectly funds ongoing atrocities in Ukraine, while highlighting the potential for stronger energy and trade cooperation between the US and India.“There…
Union finance Minister Nirmala Sitharaman on Wednesday launched the Goods and Services Tax Appellate Tribunal (GSTAT), positioning it as a landmark reform aimed at clearing a massive backlog of tax disputes and strengthening trust between businesses and the administration. The tribunal will begin hearing cases from December, offering what she described as “a true symbol…
The US Treasury is in discussions with Argentina to provide a $20 billion swap line to the South American country’s central bank, Treasury Secretary Scott Bessent said Wednesday, as right-wing President Javier Milei seeks to stabilise markets ahead of upcoming midterm elections. Following the announcement, the Argentine peso gained 2.4 percent to 1,333.90 per dollar.“The…
Iran’s rial tumbled to an all-time low of 1,074,000 against the US dollar on Wednesday, just ahead of Iranian President Masoud Pezeshkian’s scheduled address at the United Nations, AP reported.The sharp decline follows Supreme Leader Ayatollah Ali Khamenei’s rejection of direct talks with the United States over Iran’s nuclear programme, limiting the scope for diplomacy…
US stocks showed modest gains on Wednesday as Wall Street paused after a strong rally that pushed major indexes to near record highs.The S&P 500 rose 0.1% in early trading following its first loss in four days, while the Dow Jones Industrial Average gained 152 points, or 0.3%, AP reported. The Nasdaq composite was up…
(Image credits: Screen grab from video posted by X @PIB_India) The Union Cabinet on Wednesday approved the construction of the four-lane Sahebganj-Areraj-Bettiah section of NH-139W in Bihar under the Hybrid Annuity Mode (HAM) at an estimated cost of Rs 3,822.31 crore. Spanning 78.942 km, the project will improve connectivity between Patna and Bettiah and link…
The World Trade Organization (WTO) on Wednesday welcomed China’s decision not to seek new special treatment in future WTO negotiations, calling it a step toward a more equitable global trading system.“This is a pivotal moment for the WTO,” said Ngozi Okonjo-Iweala, WTO Director-General, news agency AFP reported. “China’s decision reflects a commitment to a more…
