US President Donald Trump has announced sweeping new tariffs on all imports, starting with a universal 10% baseline and steeper rates of up to 50% for certain countries. The move, aimed at reducing trade deficits and boosting domestic industry, targets major trade partners including China, India, Japan, and the EU, and is expected to have significant economic implications.
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ONGC has appointed BP as a technical partner for enhancing oil and gas production from India's Mumbai High. BP won the 10-year contract, outbidding Shell, and aims to increase output by up to 60%. BP's role involves analyzing field performance and implementing technological improvements.
As geopolitical tensions evolve into new forms, 40 per cent of board members and C-suite executives are are now identifying economic conditions as the most significant risk factor for their organisations over the next two to three years, according to a report by Protiviti.
The Maha Kumbh Mela in Prayagraj is driving a significant increase in trucking activity, with up to a 40% surge anticipated. Truck rentals have risen sharply, particularly on the Delhi to Prayagraj route. The highest demand is seen for transporting FMCG, fruits, vegetables, textiles, and petro products. CNG transport is also increasing due to event-specific requirements.
Adani Wilmar (AWL) is acquiring GD Foods, maker of the Tops brand, to strengthen its presence in the kitchen essentials segment. AWL will acquire 80% shares for Rs 603 crore, with the remaining 20% bought over three years. This move expands AWL’s product range beyond staples to sauces, pickles, and more. Funded through internal accruals and IPO proceeds, the acquisition aligns with the company’s pan-India growth strategy.
India is on track to meet the WHO recommendation of one doctor per 1,000 people by 2030, currently having a ratio of 1:1,263. This target can be achieved with a steady licensing of 50,000 doctors annually. Growth in medical colleges has facilitated this, although there are concerns about their unequal distribution and lack of rural specialists.
The Union Cabinet has greenlit an Rs 11,440 crore revival package for Rashtriya Ispat Nigam (RINL), addressing its debt issues. The package includes equity infusion and loan conversion to preference shares. This move aims to stabilize production, protect jobs, and ensure operational efficiency at the Visakhapatnam Steel Plant.
The IRS has started the 2025 tax filing season, advising early submission due to potential processing delays from staffing adjustments. Refund processing timelines include 21 days for electronic and eight weeks for paper filings, with the 'Where's My Refund' tool providing status updates.
Irdai has proposed a cap on health premium hikes for seniors, limiting increases to 10% without prior approval. Insurers must also seek approval before discontinuing policies for the elderly, and are encouraged to standardize hospital costs, similar to PMJAY. New guidelines mandate transparency in justifying any price hikes for senior citizens' health insurance.
Indian stock markets are predicted to remain in a corrective to consolidation phase for the next few months due to rising US interest rates, fiscal deficits, inflation, and deglobalisation trends. Market volatility is also impacted by Japan's monetary policy changes and ongoing foreign institutional investor outflows.
Goldman Sachs has cut price targets for Indian IT stocks due to anticipated lower revenue growth amid US economic uncertainty. With significant revenue from the US, companies like LTIMindtree were downgraded while TCS is viewed more favorably. The brokerage highlighted ongoing challenges including muted discretionary spending and potential project delays due to macroeconomic conditions.