Business

Canadians Stranded as Air Canada Strike Grounds Flights, Government Criticized for Lack of Action
16 Aug

Canadians Stranded as Air Canada Strike Grounds Flights, Government Criticized for Lack of Action

Rajeev Sharma0 CommentsBusiness, Canada, Trending
Calgary (Rajeev Sharma):– Thousands of Canadians have been left stranded across the country and abroad as Air Canada’s flight attendants have launched a nationwide strike, grounding hundreds of flights and disrupting travel for over 130,000 passengers daily. The strike, organized by the Canadian Union of Public Employees (CUPE), commenced after contract negotiations with Air Canada collapsed. Union leaders assert that flight attendants are demanding fair compensation for “groundwork” such as boarding and pre-flight assistance, which is currently unpaid. While Air Canada offered a 38% wage increase over four years, including 25% in the first year, CUPE argues that the proposal…
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India’s Russian Oil Imports Rise to 2 Million Barrels Per Day in August Despite US Tariff Tensions
15 Aug

India’s Russian Oil Imports Rise to 2 Million Barrels Per Day in August Despite US Tariff Tensions

Rajeev Sharma0 CommentsBusiness, India, , , ,
New Delhi, August 15, 2025 – India’s crude imports from Russia have climbed to 2 million barrels per day (bpd) in August, accounting for nearly 38 per cent of total inflows, even as geopolitical pressure and trade friction with the United States intensify.Data from global energy analytics firm Kpler shows Russia retained its position as India’s top supplier in the first half of August. Shipments from Iraq fell to 730,000 bpd from 907,000 bpd in July, while imports from Saudi Arabia dropped to 526,000 bpd from 700,000 bpd. The United States ranked fifth, supplying 264,000 bpd.“Russian crude imports into India…
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Govt May Replace GST’s Four-Slab System With Two-Tier Tax Rates
15 Aug

Govt May Replace GST’s Four-Slab System With Two-Tier Tax Rates

Rajeev Sharma0 CommentsBusiness, India, Trending
New Delhi: The Union government is weighing a significant overhaul of the Goods and Services Tax framework, with plans to eliminate the 12% and 28% tax brackets and move to a simpler two-slab system, government sources revealed on Friday. Under the proposed structure, GST would be charged at either 5% or 18% on most goods and services. The 28% slab could remain only for a narrow category of luxury or sin goods, while the 12% rate would be merged into the 18% bracket. The move is aimed at simplifying tax compliance, reducing classification disputes, and bringing greater transparency to the…
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US Treasury Warns India Could Face Higher Tariffs if Trump-Putin Talks Fail
14 Aug

US Treasury Warns India Could Face Higher Tariffs if Trump-Putin Talks Fail

Rajeev Sharma0 CommentsBusiness, India, , ,
Washington, August 14, 2025: US Treasury Secretary Scott Bessent has warned that secondary tariffs on India could rise further if President Donald Trump’s upcoming talks with Russian President Vladimir Putin in Alaska do not deliver progress.In an interview with Bloomberg on Wednesday, Bessent said, “We put secondary tariffs on the Indians for buying Russian oil. I could see, if things don’t go well, then sanctions or secondary tariffs could go up.”President Trump last week announced 50 per cent tariffs on Indian imports, including a 25 per cent duty on crude oil purchases from Russia. The new measures are scheduled to…
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Air Canada Serves 72-Hour Lockout Notice to CUPE, Begins Wind-Down of Operations
14 Aug

Air Canada Serves 72-Hour Lockout Notice to CUPE, Begins Wind-Down of Operations

Rajeev Sharma0 CommentsBusiness, Canada, Trending
Calgary (Rajeev Sharma) : Air Canada has issued a statutory 72-hour lockout notice to the Canadian Union of Public Employees (CUPE), representing 10,000 flight attendants at Air Canada and Air Canada Rouge. The move follows CUPE’s notice of intent to strike as early as August 16. To provide passengers with certainty, the airline will begin a phased wind-down of most operations over the next three days and has requested government directed arbitration to resolve the impasse. Despite eight months of negotiations with federal conciliators, Air Canada says no tentative agreement could be reached, even after its August 11 proposal offering…
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US Tariff Hike to Hit Indian Exporters Hard, Warns Crisil
13 Aug

US Tariff Hike to Hit Indian Exporters Hard, Warns Crisil

Rajeev Sharma0 CommentsBusiness, , ,
New Delhi: Indian exporters are bracing for a sharp earnings decline after the United States announced a steep 50 per cent tariff on imports from India, Crisil Ratings reported. The move adds a fresh 25 per cent penalty, effective August 27, to the 25 per cent reciprocal tariff already in place.The penalty is tied to India’s continued crude oil purchases from Russia and is expected to make Indian goods less competitive in the American market compared to most Asian rivals, except China. High-value sectors including diamonds, shrimp, home textiles, carpets, and ready-made garments are set to take the brunt of…
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Air India Announces Suspension of Non-Stop Services to Washington, D.C.
13 Aug

Air India Announces Suspension of Non-Stop Services to Washington, D.C.

Rajeev Sharma0 CommentsBusiness, India, World News
Canada ( Rajeev Sharma): Air India has announced that it will discontinue its direct flights between New Delhi and Washington, D.C., effective September 1, 2025, citing reduced aircraft availability and continued airspace restrictions as primary reasons. This decision will result in the termination of the only direct air link between the two capitals operated by an Indian carrier. The suspension is attributed to a planned shortage in the airline's long-haul fleet, with 26 Boeing 787-8 aircraft undergoing an extensive retrofit program. These upgrades, aimed at enhancing passenger comfort and experience, include modern seating, updated in-flight entertainment systems, and refreshed cabin…
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Cabinet approves semiconductor manufacturing units in Odisha, Punjab and Andhra Pradesh with an outlay of Rs.4600 crore
12 Aug

Cabinet approves semiconductor manufacturing units in Odisha, Punjab and Andhra Pradesh with an outlay of Rs.4600 crore

Rajeev Sharma0 CommentsBusiness, India, , , , ,
National Times Bureau, Aug 12, 2025: The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved four more semiconductor projects under India Semiconductor Mission (ISM).Momentum is building up in semiconductor ecosystem in India with the six approved projects already in various stages of execution. These four proposals approved today are from SiCSem, Continental Device India Private Limited (CDIL), 3D Glass Solutions Inc., and Advanced System in Package (ASIP) Technologies.These four approved proposals will setup semiconductor manufacturing facilities with cumulative investment of around Rs.4,600 crore and are expected to generate a cumulative employment for 2034 skilled professionals which would catalyse…
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Tesla to Open Second India Experience Centre in New Delhi on August 11
10 Aug

Tesla to Open Second India Experience Centre in New Delhi on August 11

Rajeev Sharma0 CommentsBusiness, India, , , ,
New Delhi, August 10, 2025 – US electric vehicle giant Tesla will open its second Indian Experience Centre on August 11 at Worldmark 3, Aerocity, New Delhi, further expanding its footprint in the country’s rapidly growing EV market. The centre will offer visitors the opportunity to explore Tesla’s latest electric offerings, including the recently launched Model Y midsize SUV.Tesla entered the Indian market on July 15 with the Model Y, priced from ₹60 lakh. The SUV is available in two variants — the ₹60 lakh Rear-Wheel Drive, delivering a range of up to 455 km and accelerating from 0–100 km/h…
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