'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
'Crude oil prices are around $66-67 per barrel now but could fall to $55-60 if global disturbances ease.'
'Trump is not shy when he is frustrated with countries'
Former US President Donald Trump said he is ready to meet Russian President Vladimir Putin anytime, but warned of potential sanctions if Russia doesn't engage in negotiations on Ukraine. Trump criticized current President Joe Biden's handling of the conflict, claiming that the war wouldn't have happened under his presidency. He also raised concerns about the number of casualties in Ukraine, suggesting that the reported figures are not accurate. Trump also highlighted the financial burden of the conflict on the US and called for increased contributions from European Union members.
"I understood tariffs better than any human being in the world. And now with my tariffs, they were all dropping them. India was the most highly tariffed nation... And you know what, they've offered me no tariffs in India anymore. No tariffs," Trump said.
China showcased its latest military hardware, including hypersonic and ballistic missiles, during a parade commemorating the 80th anniversary of its victory against Japanese aggression in World War II. President Xi Jinping called for world peace and national rejuvenation.
Kylian Mbappe scored twice from the penalty spot as Real Madrid fought back from a goal down to beat Olympique de Marseille 2-1 in their opening match of the Champions League group stage, at the Santiago Bernabeu, Madrid, on Tuesday.
IMAGES from matches played across European leagues on Saturday
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
'Non-compatible with Western Civilization' is about as vague and jingoistic as it gets and Trump saying this gives full license to his acolytes to go full throttle on making life as difficult and scary as possible for as many non-white people as possible,' notes Sree Sreenivasan.
The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
'We had very narrow negotiations that were quite useful.'
'Modi is such a Prime Minister who always thinks about Sikhs. All the pending issues of Sikhs, which have not been resolved to date, are being resolved, including the Kartarpur Sahib corridor. There should not be such protests against him, and no Sikh can tolerate this'
The restructuring of tariffs by the US has led to a shift in the list of key product suppliers to the American market, with India emerging as one of the beneficiaries at the expense of China and Canada, an official said on Monday. As per an analysis, India's share in the USA's electronics exports has increased to 7.2 per cent to 3.5 per cent year-on-year in May, while China's share dipped to 11 per cent from 22 per cent during the same period.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
China on Friday raised its additional tariffs on imports from the United States to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
Australia, Canada, US and UK are restricting immigration, but other countries are opening their doors.
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US.
The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates.
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
India has cautioned against 'double standards' regarding its energy procurement from Russia, asserting that it is based on national interests and market dynamics, following a threat of secondary sanctions from NATO Secretary General Mark Rutte.
The Kanimozhi Karunanidhi-led delegation is visiting five European nations to garner support for India's campaign against cross-border terrorism.
"I am telling you, these countries are calling us up, kissing my a***," Trump said during a speech at the National Republican Congressional Committee dinner on Tuesday.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
Prime Minister Narendra Modi is likely to visit the United Kingdom by the end of this month, with the India-UK free trade deal expected to be formally signed. Discussions on expanding bilateral ties in defence and security are also anticipated.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
United States President Donald Trump paid homage to soccer great Pele after being met with boos and cheers from the crowd at the Club World Cup final on Sunday at MetLife Stadium in East Rutherford, New Jersey.
Elon Musk-led Tesla Inc is yet to express interest in India's flagship scheme to attract global investment in electric vehicle (EV) manufacturing, said Union Minister for Heavy Industries H D Kumaraswamy on Monday. In contrast, multiple global automobile giants -- such as Mercedes-Benz, koda Auto Volkswagen, Hyundai Motor, and Kia Motors -- are keen to participate, the minister noted.
Google's stance on the optimism and pro-innovation around artificial intelligence (AI) is very similar to the principles adopted by the Indian government under its IndiaAI Mission, the company's vice-president of government affairs and public policy in the Asia-Pacific Region, Wilson White, said.
If pharmaceutical exports from India to the US come under a 25 per cent tariff bracket, the impact on earnings before interest, tax, depreciation and amortisation (Ebitda) could be around 5 per cent, felt analysts. This is after assuming that about 75 per cent of the tariff would be passed on.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Prime Minister Narendra Modi on Sunday conveyed to Iranian President Masoud Pezeshkian India's 'deep concern' over Iran's conflict with Israel and called for immediate de-escalation of the situation through 'dialogue and diplomacy'.
Manchester City's Erling Haaland extended his remarkable scoring streak to 12 straight matches as his side recorded a comfortable 2-0 victory at Villarreal in the Champions League on Tuesday.
