Business Archives - Page 20 of 31

06 Aug

Trump Slaps 25% Tariff on Indian Imports Over Continued Russian Oil Purchases

Rajeev Sharma0 CommentsBusiness, India, World NewsDonald Trump, Executive Order, India, Russian oil, Tariffs, U.S-India trade, U.S. sanctions

Washington, D.C., August 6, 2025 — In a bold escalation of U.S. economic pressure tied to the ongoing Ukraine conflict, President Donald J. Trump signed an executive order today imposing a 25% tariff on all imports from India. The move comes in direct response to India’s continued purchase of Russian oil, which the administration has deemed a threat to U.S. national security and foreign policy interests.The executive order cites authority from the International Emergency Economic Powers Act and the National Emergencies Act, asserting that India's direct and indirect imports of Russian crude oil violate the spirit of sanctions previously placed…

06 Aug

Gautam Adani Steps Down as Executive Chairman of APSEZ, Assumes Non-Executive Role

Rajeev Sharma0 CommentsBusinessAdani Group, APSEZ, Executive Chairman, Gautam Adani, Manish Agarwal, Non-Executive Chairman

Mumbai, August 6, 2025 – In a significant leadership shift, Gautam Adani has stepped down from his position as Executive Chairman of Adani Ports and Special Economic Zone (APSEZ), transitioning to the role of Non-Executive Chairman with effect from August 5. The move comes as part of regulatory compliance and corporate restructuring within the Adani Group.The company confirmed the decision in a regulatory filing, noting that Adani will no longer be considered a key managerial personnel (KMP) at APSEZ. The change aligns with the Companies Act, which restricts individuals from holding executive roles in multiple firms simultaneously. With APSEZ already…

06 Aug

Hazoor Multi Projects Acquires Quippo Oil and Gas Infrastructure

nishuthapar10 CommentsBusiness, Trending

Hazoor Multi Projects Ltd. (HMPL) one of India's fastest-growing infrastructure and engineering enterprises, is pleased to announce the successful acquisition of Quippo Oil & Gas Infrastructure Ltd. (Quippo) through a competitive Swiss Challenge bidding process. With this milestone, HMPL makes its official entry into India's upstream Oil & Gas sector-particularly offshore services-ushering in a new era of growth, diversification, and long-term value creation. Mr. Gurinder Kamboj, HMPL's nominee Director on Quippo's board The acquisition, completed through subsidiary route, reflects more than a strategic shift; it represents HMPL's evolving identity-from a high-performing infrastructure EPC company to a diversified platform capable of…

06 Aug

TUMI Celebrates Grand Opening of First China Flagship Store at Shanghai Centre

nishuthapar10 CommentsBusiness, Trending

Hong Kong SAR TUMI, the leading international travel, lifestyle and accessories brand, celebrated the grand opening of its first China flagship store at the iconic Shanghai Centre. TUMI welcomed guests to an exclusive launch event in celebration of the flagships grand opening-an evening rooted in design, culture, and meaningful connection. This milestone flagship is the latest reflection of the brands continued investment in the region and its commitment to serving the global traveler with immersive, elevated and personalized retail experiences. An Exclusive Milestone Celebration A symbolic ribbon-cutting ceremony marked the occasion, drawing notable guests from across the region and beyond…

06 Aug

Mark Carney’s $1.2 Billion Forestry Support Plan Welcomed in B.C., but Industry Calls for U.S. Trade Deal

Rajeev Sharma0 CommentsBusiness, Canada, TrendingCanada, Mark Carney

British Columbia (Richa Walia): The federal government’s $1.2 billion relief package for Canada’s struggling forestry sector has received a cautious welcome in British Columbia, where industry leaders stress that long-term solutions must include a new trade agreement with the United States. The announcement, made by Prime Minister Mark Carney in West Kelowna on Tuesday, comes as American import duties on Canadian softwood lumber continue to rise. Under the plan, $700 million will be allocated for loan guarantees to help companies stabilize operations, while $500 million will fund the development of new products and markets. An additional $500 million will support…

05 Aug

Anil Ambani Appears Before ED in ₹17,000-Crore Money Laundering Probe

Rajeev Sharma0 CommentsBusiness000 crore bank fraud, Anil Ambani ED, money laundering, Reliance Group investigation, Yes Bank scam, ₹17

New Delhi, August 5, 2025 — Industrialist and Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate (ED) on Tuesday in connection with a sprawling money laundering investigation into alleged bank loan frauds exceeding ₹17,000 crore involving several of his group companies.Ambani, 66, reached the ED headquarters in central Delhi around 10:50 am, arriving in an electric vehicle. His statement is being recorded under the Prevention of Money Laundering Act (PMLA), official sources confirmed.The questioning comes just weeks after a sweeping ED operation on July 24, during which the agency raided 35 locations tied to nearly 50 companies and…

05 Aug

Punjab Govt Constitutes 15 Industrial Committees, Pahwa to Lead Bicycle Industry Panel

Gurpreet Singh0 CommentsBusiness, PunjabPunjab News

National Times Bureau :- Punjab minister Sanjeev Arora on Tuesday announced 15 more committees dedicated to specific industrial sectors, taking the number of such panels formed so far in the state to 24.The panels are part of Punjab govt's efforts to gather suggestions from industry experts to strengthen its industrial policy and improve ease of doing business.The new committees, which include members from diverse industrial sectors, will act as a think tank to recommend sector-specific policy measures. The new committees will focus on the IT sector, bicycle industry, auto and auto components, electric vehicles, renewable energy, steel and rolling mills,…

04 Aug

Tesla Launches First Charging Station in India, Plans Expansion Across Mumbai

Rajeev Sharma0 CommentsBusiness, India, TechnologyModel Y launch, Tesla charging station Mumbai, Tesla India, V4 Supercharger

Mumbai, August 4— Global electric vehicle giant Tesla has taken its next major step in the Indian market by launching its first official charging facility in Mumbai. Located at One BKC in the Bandra-Kurla Complex, the station features four V4 Supercharging stalls for fast DC charging and four destination AC charging stalls.This move comes just weeks after Tesla’s long-anticipated entry into India with its first Experience Centre at Lower Parel. The Experience Centre, opened on July 15, marked the debut of Tesla’s Model Y SUV in India, priced from ₹59.89 lakh.Tesla’s charging station at BKC offers its latest V4 Superchargers,…

03 Aug

India’s Forex Reserves Climb $2.7 Billion, Cross $698 Billion Mark After Three-Week Slump

Rajeev Sharma0 CommentsBusinessForeign Exchange, Forex Reserves, Gold Reserves, India economy, RBI

Mumbai, August 3 – India’s foreign exchange reserves recorded a notable rebound after a three-week dip, rising by $2.703 billion to reach $698.192 billion for the week ending July 25, according to data released by the Reserve Bank of India (RBI) on Friday.The uptick follows a fall of $1.18 billion in the previous reporting week. This resurgence was primarily driven by a sharp increase in foreign currency assets, which climbed $1.316 billion to hit $588.926 billion. Gold reserves also rose significantly, registering a $1.206 billion gain and reaching $85.704 billion.The Special Drawing Rights (SDRs) held with the International Monetary Fund…

03 Aug

ED Arrests Former Axis MF Dealer Viresh Joshi in ₹200 Crore Front-Running Scam

Rajeev Sharma0 CommentsBusiness, IndiaAxis Mutual Fund scam, ED arrest, front-running, Viresh Joshi, ₹200 crore fraud

Mumbai, August 3, 2025 — In a sweeping operation targeting financial market malpractice, the Enforcement Directorate (ED) has arrested Viresh Gangaram Joshi, former chief dealer of Axis Mutual Fund, for his alleged role in a ₹200 crore front-running scam that took place between 2018 and 2021. The arrest is part of a probe under the Prevention of Money Laundering Act (PMLA) and follows coordinated searches across eight major cities.Joshi is accused of exploiting privileged information about Axis Mutual Fund’s upcoming trades to execute pre-emptive transactions using mule accounts and a Dubai-based trading terminal, thereby generating illicit gains at the expense…