BUSINESS
Indian Rupee Strengthens Against the US Dollar in Early Trade
Experts have estimated the day's trading range to be between ₹84.50 and ₹85.25. The US dollar continued to hold its ground after the United States and China signed a crucial trade agreement.
India Seeks WTO Approval for Retaliatory Tariffs on US Steel and Aluminium Duties
India's proposed duties would be leveled against US imports worth $7.6 billion, while duty collections were projected to stand at $1.91 billion, based on a WTO communication. This action is to counter the negative impact of US tariffs on Indian goods.
India-Pakistan Tensions Cause Ongoing Flight Disruptions
Air India canceled flight services operating in both directions to and from cities like Jammu, Leh, Jodhpur, Amritsar, Bhuj, Jamnagar, Chandigarh, and Rajkot.
US, China sign deal to roll back tariffs for 90 days
According to the deal, the US will reduce tariffs on Chinese products from 145% to 30% for 90 days, and China will slash tariffs on US products from 125% to 10% for 90 days.
Government Greenlights Reopening of 32 Airports Amid De-escalation Along India-Pakistan Border
The airports were shut down in enforcement of the increase in cross-border drone and missile attacks after terrorists allegedly sponsored by Islamabad killed 26 tourists in Pahalgam.
Sensex Rallies Over 2,100 Points; Nifty Soars Past 24,650 Amid India-Pakistan Ceasefire
The Sensex had increased by 2,185 points, or 2.75%, at around 10:11 AM, to reach 81,640.01, while the Nifty gained 672.80 points, or 2.80%, to 24,680.80.
Trump Vows to Maintain 10% Tariff Floor Amid Global Trade Negotiations
In addressing the media in his White House interview, Trump answered a question about whether the minimum tariff would still be in place if the trading partners had agreed to remove duties on U.S. exports as part of reciprocal trade negotiations.
32 Airports in India Shut for Civilian Flights Amid Ongoing Military Conflict
The move, made public early today, comes against the backdrop of the ongoing military standoff between India and Pakistan, which escalated after India launched its May 7 raids on terror camps in Pakistan and Pakistan retaliated with shelling of border posts.
Pakistan Secures $1 Billion from IMF as Part of $7 Billion Bailout Program
Prime Minister Shehbaz Sharif welcomed the IMF approval of this USD 1 billion tranche and underscored the failure of India's attempts to impact the decision. His office statement pointed out that the disbursement is a major milestone for Pakistan, in spite of India's efforts to discredit it.
SIP Inflows Soar to Record Rs 26,632 Crore in April, Says AMFI
Even though 1.36 crore SIP accounts were closed or matured, investor interest was strong, with the number of active SIP accounts increasing to 8.38 crore in April from 8.11 crore in March. Furthermore, 46 lakh new SIP accounts were added, higher than the 40.19 lakh new accounts in March.
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