trade war, trade tussle, gsp programme, duty free trade, Donald Trump, Business news

India will not raise duty on American goods in response to the withdrawal of the duty-free export facility.

US President Donald Trump has decided to withdraw the Genialized System of Preferences (GSP) status given to exported goods from India. India has replied to not raising duty on American goods in response. India’s Commerce Secretary Anoop Wadhawan said that the GSP benefits were relatively less He said that both the countries are working on […]

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saudi arabia investment in india, Saudi Arabia, oil supply, oil import, Business news

Saudi Arabia will make India a petroleum hub, the promise of big investment.

Saudi Arabia is considering making India a regional center for the supply of crude oil. Saudi Arabia’s Foreign Minister Adel bin Ahmed Al-Jubier has said that his country will invest billions of dollars in the construction of storage facilities and strengthening the refinery. World’s largest oil exporter, Saudi Arabia, will also invest in the distribution […]

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Supreme Court, RCom, ericsson, Anil Ambani, Business news

RCom sought the approval of the company’s lenders for payment of outstanding 260 crores to Ericsson.

Reliance Communications (RCOM), led by Anil Ambani, on Thursday said that he has requested the company’s lenders to give ‘immediate clearance’ to pay a direct payment of Rs 260 crore to Ericsson’s bank account. This step came on Wednesday after the Supreme Court gave directions to RCom to pay Ericsson India Rs 453 crore in […]

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reserve bank of india, merger of banks, Arun Jaitley, Business news

Finance Minister Jaitley has given indications to the merger of many more banks, said – India needs big banks.

Finance Minister Arun Jaitley has said that consolidation in the country’s banking industry should increase, i.e. the number of banks should be reduced. He said that the country needs less but powerful banks so that the profits gained from large scale can be availed. He dismissed concerns about the impact of the fiscal year announced […]

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