In a move likely to heat up produce prices and trade tensions, the US government announced on Monday it is imposing a 17% tariff on most fresh Mexican tomatoes after talks with Mexico collapsed without a new deal. The decision marks the formal end of the 2019 Tomato Suspension Agreement, which had allowed tomatoes from…
The Reserve Bank on Friday said it has imposed a Rs 4.88 lakh penalty on HDFC Bank for contravention of certain norms relating to foreign investment in India while granting a term loan to its client. The central bank also imposed a penalty of Rs 2.70 lakh on Shriram Finance Limited for non-compliance with certain…
A limited curfew will be in effect from Tuesday in several parts of downtown Los Angeles in US’s California, after several nights of violent protests, arson, and looting over the Donald Trump administration’s immigration raids, Mayor Karen Bass said. The curfew will be imposed from 8 pm. to 6 am and may remain in place…
US President Donald Trump signed a proclamation on Wednesday banning travel from certain countries, citing national security concerns. Trump’s proclamation fully restricts and limits the entry of nationals from 12 countries: Afghanistan, Myanmar, Chad, the Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. The countries facing the total ban…
The Reserve Bank on Friday said it has imposed penalties on four banks, including ICICI Bank and Bank of Baroda, for deficiencies in regulatory compliances. Penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance with certain directions issued by the Reserve Bank of India (RBI) on ‘Cyber Security Framework in Banks‘,…
Donald Trump has announced a 125% tariff hike on Chinese goods while offering a 90-day pause on reciprocal tariffs for 75 countries that have been negotiating. China has responded defiantly, warning against bullying and blackmail. Meanwhile, China and the European Union are discussing closer trade ties, including negotiations on electric vehicles and investment cooperation, potentially…
External affairs minister S Jaishankar NEW DELHI: External Affairs Minister S Jaishankar on Thursday said that he had an open conversation with commerce and industry minister Piyush Goyal, who is in the US to discuss a bilateral trade agreement, about tariff and added that US administration is moving towards multipolarity, which suits India’s interests. This…
NEW DELHI: The Reserve Bank of India (RBI) has imposed a fine worth Rs 46.7 lakhs on three firms for non compliance with certain provisions of directives issued by the Reserve Bank of India. In three separate press releases issued by the apex bank on 21 February, it issued a monetary penalty on CitiBank NA,…
Hours before meeting Prime Minister Narendra Modi, US President Donald Trump on Thursday rolled out his plan for comprehensive “reciprocal tariffs” affecting both allies and rivals, intensifying global trade tensions that economists suggest could lead to domestic inflation.“I’ve decided for purposes of fairness that I will charge a reciprocal tariff,” Trump said in the Oval…
President Donald Trump moved to substantially raise tariffs on steel and aluminium imports on Monday, cancelling exemptions and duty-free quotas for major suppliers Canada, Mexico, Brazil and other countries in a move that could boost the risk of a multi-front trade war. Trump signed proclamations that raised the tariff rate on aluminium imports to 25…