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The US trade deficit narrowed by about 24 per cent in August as sweeping tariffs imposed by President Donald Trump reduced imports, according to a delayed Commerce Department report released Wednesday. According to Associated Press, citing the report, the trade gap fell to $59.6 billion in August from $78.2 billion in July. Imports declined 5…
The latest dispute between Japan and China has now entered the trade sphere, with Tokyo media reporting that Beijing is planning to halt Japanese seafood imports. However the reports, which emerged on Wednesday and were widely carried by outlets, still remain unconfirmed by governments of both the countries as the diplomatic row deepens.Reports from Tokyo…
NEW DELHI/WASHINGTON: State-run oil companies have signed a one-year deal to buy 2.2m tonnes of cooking gas from the US, about 10% of India’s LPG imports. It’s expected to help cut the trade imbalance, a key complaint of the Trump administration. “A historic first! One of the largest and the world’s fastest growing liquefied petroleum…
NEW DELHI: Amid rising prices, Indian consumers were shunning the purchase of gold, resulting in lower import of the yellow metal – both in value and quantity terms – during first half of the financial year.But, they seem to have come back with a vengeance in Oct, coinciding with GST rate reduction, making up for…
India’s gold imports surged nearly threefold to a record $14.72 billion in October, propelled by strong festive and wedding-season demand, government data showed on Monday. Imports stood at $4.92 billion in the same month last year, PTI reported.Cumulatively, gold inflows rose 21.44 per cent to $41.23 billion in April–October, up from $34 billion a year…
The commerce ministry’s Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into imports of a Chinese-origin rubber used primarily in the automotive industry, following a complaint from a domestic manufacturer.The investigation concerns Halo Isobutene and Isoprene Rubber, which is widely used in manufacturing inner tubes for bicycles, cars, trucks, and industrial or…
Profits at India’s state-run oil refiners soared in the July–September quarter even as their dependence on discounted Russian crude dropped sharply, showing that earnings were fuelled more by global price movements than by cheap Russian supplies.According to ET, the combined profit of Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL)…
India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime intelligence…
Data from Kpler shows Reliance’s imports dropped to 534,000 barrels per day (bpd) in October. (AI image) Mukesh Ambani-led Reliance Industries (RIL) has cut back on its crude oil imports from the Russia and in the coming months is expected to stop buying from entities sanctioned by the Donald Trump administration. RIL is the largest…
US President Donald Trump shakes hands with Prime Minister Narendra Modi in the Oval Office of the White House, Feb. 13, 2025, in Washington. (AP File Photo) The White House on Tuesday said US President Donald Trump remains committed to strengthening ties with India and is in frequent contact with Prime Minister Narendra Modi, even…
