Hyderabad, President-elect Donald Trump’s warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US law permits such an action, former RBI Governor Duvvuri Subbarao said…
US President-elect Donald Trump has threatened to levy 100% tariffs on BRICS — a China- and Russia-led group of nations with emerging economies — if the countries decide to issue their own currency. Trump said Saturday that his incoming administration will not allow the nine-nation group, which has 34 other countries interested in joining, to…
New Delhi, Dec 1 (PTI) The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. BRICS, formed in 2009,…
The world could see a second wave of tariff war as Donald Trump takes office this January. The US President-elect has threatened a 100% tariff on the BRICS countries, including India, if they undercut the US dollar or replace it with another currency for international transactions. His remarks follow a BRICS meeting in October that…
US stocks were up on Friday as the market headed for a weekly gain. The US dollar, meanwhile, surged to its highest since November 2022. Earnings season has nearly concluded with 77% of S&P 500 firms beating third-quarter profit estimates. US stocks rose Friday, with traders looking to cap off a solid week of rebounds…
China may be under pressure to let its currency appreciate and should reduce reliance on the US market, Chinese analysts said, after a former protégé of billionaire George Soros was tapped to become Washington’s top economic official. US president-elect Donald Trump on Friday picked hedge fund manager Scott Bessent, founder of investment firm Key Square…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…
The Indian markets are shut on account of Assembly Elections in Maharashtra but globally its a positive day of trade. Asian markets have opened higher and US too closed in the green after a volatile session on Tuesday. Investors are looking forward to appointments by US President-elect Donald Trump Meanwhile, oil prices saw a modest…
Early results from the 2024 US election show former President Donald Trump, the Republican candidate, gaining an initial lead over Democratic candidate and current Vice President Kamala Harris. So far, Trump has collected 168 votes, while Kamala Harris bagged 81 votes, reported AFP. A candidate must secure at least 270 of the 538 votes (Electoral…
The annual summit of the Brics group of nations welcomed five new full members last week, doubling membership to 10. It underlined the growing challenge to the Western-led world order from emerging nations, with 13 more invited to become “partner countries”, and Russian President Vladimir Putin revealing that more than 30 others had expressed an…