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India’s Finance Minister Nirmala Sitharaman said the Biden Administration and leaders from the corporate sector in the US have welcomed recent economic reforms introduced by her government. “The reforms that we’ve undertaken, particularly the steps taken for the withdrawal of the retrospective tax has been mentioned by the United States Administration as a very positive … Continue reading ‘Biden admin, US firms welcomed economic reforms by India’

Finance minister Nirmala Sitharaman met several American investors and pitched for investment across sectors from pharma to finance and telecom — citing the recent initiatives taken by the government.

Finance minister Nirmala Sitharaman on Tuesday highlighted “significant reforms” undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors here.

The US trade deficit raced to a record high in August, boosted by imports as businesses rebuild inventories, the latest sign that economic growth slowed in the third quarter. The trade deficit surged 4.2 per cent to $73.3 billion last month, the highest since the government started tracking the series, the Commerce Department said on … Continue reading US trade deficit jumps to record high in August

Huawei Technologies chief financial officer Meng Wanzhou has reached an agreement with US prosecutors to resolve the bank fraud case against her, according to sources familiar with the matter, in a process that should allow her to leave Canada.

The chief financial officer of Chinese telecoms giant Huawei reached a deferred prosecution agreement with US prosecutors Friday to avoid felony fraud charges, clearing the way for her release after nearly three years detention in Canada.

US visit: PM Modi to interact with CEOs

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During his US trip, PM Modi is scheduled to hold one-on-one meetings with top five American CEOs. Two of them are Indian Americans — Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The three others being Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.

Worries about debt-engorged Chinese property developers – and the damage they could do to investors worldwide if they default – rippled across markets. The S&P 500 fell 75.26 points, or 1.7%, to 4,357.73, it’s biggest drop since May. The Dow Jones Industrial Average fell 614.41 points, or 1.8%, to 33,970.47.

US officials are preparing a new antitrust lawsuit against Google over its power in the online advertising market, Bloomberg reported Wednesday. Bloomberg cited an unnamed person familiar with the matter as saying the Justice Department could file the litigation by the end of the year.

A court in Washington has set timelines for responses to be filed to an Indian government petition seeking dismissal of a suit by Britain’s Cairn Energy that sought enforcement of a $1.2 billion arbitral award.

ReNew Power, India’s biggest renewable energy company, on Tuesday listed on the Nasdaq in the US through the special purpose acquisition company (SPAC) route and achieved a market capitalisation of nearly $4.5 billion (about Rs 33,500 crore).

The US Embassy in a statement Monday said that the mission in India “approved more student visa applicants in 2021 than ever before, despite the global Covid-19 pandemic. Through these efforts, more than 55,000 students and exchange visitors are boarding planes to study in the US, and more students are being approved every day.”

A day after commerce and industry minister Piyush Goyal said hopes of an India-US trade pact are off the table for now, US Ambassador to India Atul Keshap spoke to the Indian minister for over two hours, discussing trade between the two countries.

State-run Bharat Petroleum Corp Ltd is scooping up rising volumes of US crude, people familiar with the matter said, as fuel demand in the Asian country recovers and weak US crude prices make purchases attractive.