BUSINESS
Brazil Plans WTO Challenge Against US Tariffs, Considers Relief Measures
It comes after a move by US President Donald Trump to impose a 50% tariff on some Brazilian exports — coffee, beef, and petrochemical goods — scheduled to take effect on Wednesday.
Indian Services Sector Stays Robust in July on Rising Orders and Global Sales: HSBC PMI
The HSBC India Services PMI Business Activity Index posted at 60.5 in July, slightly higher than 60.4 in June.
Top 1% of Indians own 60% of wealth in real estate and gold: Report
This elite group comprises Ultra High Net Worth Individuals (UHNIs), High Net Worth Individuals (HNIs), and the rich class. Earning just 1 percent of Indian households, they together possess nearly 60 percent of India's total assets, as per US-based wealth advisory firm Bernstein.
'Untrue': Govt Clarifies RBI Hasn’t Ordered Banks to Halt Rs 500 Note Disbursal from ATMs by September
The false message also indicated that by March 31, 2026, 90% of ATMs would cease dispensing ₹500 notes, and 75% would stop by this September. It advised recipients to begin "liquidating" their ₹500 notes, indicating that only ₹100 and ₹200 notes would be made available through ATMs.
India’s Smartphone Exports Reach Record $7.72 Billion in Q1FY26, Led by Apple’s $6 Billion Share
At the forefront of this surge was Apple Inc., which shipped iPhones valued at $6 billion to its contract manufacturers.
India Reaffirms Russian Oil Imports Amid Trump Praise, Cites Economic and Energy Stability
"Indian oil refiners continue to source oil from Russian suppliers. Their supply decisions are guided by price, grade of crude, inventories, logistics and other economic factors," sources were quoted as saying by news agency ANI.
Trump’s Tariffs Likely to Impact US Economy More Than India’s: SBI Research
The new trade curbs, effective from August 7, are being imposed along with sanctions on Russian oil and defense system purchases.
GCCs in India Expected to Surpass 2,200 by 2030: Report
The State Bank of India's (SBI) domestic investment banking business also projects a big 25–30% boost in assets under management (AUM) for Real Estate Investment Trusts (REITs) over the next few years.
India's Export Hit from Higher US Tariffs Minimal, at 0.3–0.4% of GDP: Report
The report sees the resilience in this partly due to India's largely domestic-driven economy and its relatively low exposure to the US in goods exports.
Zomato Founder Ventures into Jet Engine Manufacturing
Sharing his high-flying ambitions on LinkedIn, Goyal said, "India has attempted making gas turbine engines previously. And we've reached close. At LAT, we need to cross the finish line."
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