Trade Talks

Bank of Ceylon, SBI, Indian Bank talk benefit of rupee trade in Colombo

Following the Russia-Ukraine war and the sanctions imposed by the West, India has been trying to promote rupee trade

Rupee gains 20 paise to 81.50 against US currency in morning trade

The rupee rose by 20 paise to 81.50 against the US currency in morning trade on Wednesday following a weak dollar in the global markets. Early losses in domestic stock markets and a rebound in oil prices, however, restricted the rupee's gains. At the interbank foreign exchange, the rupee opened higher at 81.62 and rose further to a high of 81.49 in morning trade. The rupee was trading at 81.50 to a dollar at 0950 hrs. The local currency had closed lower at 81.70 on Tuesday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04 per cent to 101.88. The Brent crude was trading 0.43 per cent lower at USD 86.48 per barrel while the oil for the Indian basket traded down 2.69 per cent at USD 79.98 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined by 268 points or 0.44 per cent to 60,709.93. The broader NSE Nifty declined by 90.25 points or 0.5 per cent to 18,028.05. Foreign Institutional Investors (FI

Pakistan's mobile phone imports decline 66% in 1st half of FY 2023

Pakistan's mobile phone imports declined by 66 per cent in the first half of the current fiscal year 2022-2023, compared to the same period of the last fiscal year, according to official figures

2023 to be tough on trade as global economies will slow down: GTRI to Govt

Announcement of measures like quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget

India to seek easing of EU steel quotas, tarrifs in trade talks

New Delhi last month slapped anti-dumping import duties on stainless steel seamless tubes and pipe imports from China

Pak PM on two-day visit to UAE to ramp up bilateral economic, trade ties

Pakistan Prime Minister Shehbaz Sharif travelled to the UAE on Thursday on a two-day visit aimed at ramping up bilateral economic and trade ties, just days after the country's powerful Army chief General Asim Munir concluded his trip to the Gulf emirate. Sharif is leading a delegation of key ministers on his third visit to the UAE since becoming prime minister in April last year. He was received by UAE's Minister for Economic Affairs Touq Al Mari at Abu Dhabi airport. "My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh @MohamedBinZayed. We share a resolve & understanding that the continuous efforts need to be made to further strengthen trade, investment & economic relations," Sharif tweeted after landing in the UAE. Pakistan's Foreign Office said on Tuesday that Sharif will meet the UAE president Sheikh Mohammed bin Zayed with a particular focus on advancing economic, trade and investment ties between the two countries. "The two .

India-Australia interim trade deal kicks in today after eight-month wait

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion

What is the Indo-Pacific Economic Framework?

India will host to next special negotiation round of IPEF in February. IPEF is a trade partnership whose foundations were laid a few months ago. But why was it formed? What does it aim to achieve?

Joe Biden, Emmanuel Macron vow unity against Russia, discuss trade row

Presidents Joe Biden and Emmanuel Macron vowed to maintain a united front against Russia on Thursday amid growing worries about waning support for Ukraine's war effort in the US and Europe. Biden also signalled he might be willing to tweak aspects of his signature climate legislation that have raised concerns with France and other European allies. Biden was honouring Macron with a grand state dinner Thursday evening - the first of the US president's COVID-19 shadowed presidency for a foreign leader. But following up on Biden's upbeat comments might not go as smoothly as that fancy affair. Republicans who are about to take control of the House have shown less willingness than Biden to spend billions on Ukraine, and Democratic lawmakers said Thursday they were not about to jump back into the climate legislation. In fact, for all the positive statements, Macron's visit to Washington has been tempered by his criticism of Biden's Inflation Reduction Act and the challenges both leaders fa

RBI, UAE central bank discuss mechanism to trade in local currencies

Negotiations between India-GCC FTA expected in Jan-March quarter

Govt asks exporters to utilise and reap benefits of India-Australia FTA

There is a need to go beyond the usual buyer-seller meets and get more aggressive towards their ways to sell products in the Australian market, people aware of the matter told Business Standard

Landmark maritime Lebanon-Israel pact could have important ramifications

Under the agreement, Lebanon is awarded 840 square kilometres of the previously disputed area

UK FTA deadline depends on talks: Commerce secretary Sunil Barthwal

Deadline for agreement will depend on talks, he says as Diwali timeline goes by

FinMin sees Q1 growth at 15.6% ahead of GDP data, impact on trade component

This is lower than RBI's April-June (Q1FY23) GDP projection of 16.2%

Jaishankar holds talks with Argentine president; discusses trade ties

External Affairs Minister S Jaishankar has called on Argentine President Alberto Fernandez and discussed measures for making trade ties more sustainable and ambitious as well as the potential for bilateral cooperation in defence and nuclear energy. Jaishankar, who arrived here on Thursday the final leg of his maiden official visit to three Latin American countries, also met Economy Minister Sergio Massa and exchanged views on economic cooperation. "Glad to meet @SergioMassa, Minister of Economy of Argentina. Appreciate his positive outlook towards expanding our economic cooperation," Jaishankar tweeted. After meeting Argentine President Fernndez, Jaishankar said, "Thank President @alferdez for receiving me. Conveyed the greetings of PM @narendramodi." They discussed strengthening bilateral cooperation, including making trade levels more sustainable and ambitious. They also exchange views on energy and food security, "both from the perspective of the global south and our bilateral

India-China trade goes up to over $67 bn in first half of 2022

The India-China trade is on course to cross USD 100 billion for the second consecutive year as it has gone up to USD 67.08 billion in the first half of this year amid a big surge of Chinese exports

US hopes to start trade talks under IPEF to fuel economic activity

Last month, India joined 13 other countries to establish the IPEF, led by the US to counter China's growing clout in the Indo-Pacific region

ITC Infotech pays $33 mn to PTC for partially acquiring American PLM biz

ITC Infotech on Thursday said it has paid an amount of USD 33 million (around Rs 256 crore) to PTC as part of an agreement to acquire a substantial portion of the American company's product services

China demands US stop trade talks with Taiwan, threatens consequences

China's government accused Washington of jeopardising peace after US envoys began trade talks with Taiwan aimed at deepening relations with the self-ruled island democracy claimed by Beijing.

China claims it is still India's top trade partner as per its data, not US

China on Tuesday insisted that it is still India's biggest trade partner in 2021-22 as per its figures and attributed the "disparity" to different methods of calculating the trade volume.