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Govt issues notice to Kia for $155 mn tax evasion, company denies charges

Tax officers sent a confidential notice to Kia's Indian unit in April 2024, flagging alleged tax evasion of Rs 1,350 crore

Iran calls for Opec to unite against potential US crude sanctions

Iran's oil minister Mohsen Paknejad told Al Ghais that imposing unilateral sanctions on crude producers would destabilise energy markets

Canada to host summit on boosting economy after Trump tariff threat

Trudeau said the one-day meeting would group leaders in trade, business, public policy, and organized labor to build what he called a long-term prosperity agenda

Sula Vineyards Q3 results: Net profit falls 35% to Rs 28.06 crore

Sula's consolidated net profit fell to Rs 28.06 crore ($3.2 million) in the quarter ending Dec. 31, from Rs 42.98 crore a year ago

Driven by US stockpiling, Canada posts first trade surplus in 10 months

The December trade surplus was at C$708 million ($496 million), compared with a revised deficit of C$986 million the prior month, helped by an 4.9 per cent growth in exports

US Postal Service to resume China parcel deliveries amid tariff changes

Some other international couriers including FedEx and SF Express, China's largest express delivery company, said they will continue to send packages to the United States

US futures hit by Alphabet's weak earnings, gold surges to record high

The suggestion came out of the blue and underlined the risk of more policy uncertainty and market volatility ahead. Gold hit another record high, driven mostly by a weaker dollar

Space systems maker Karman Holdings seeks up to $2.6 bn valuation in US IPO

The company and selling shareholders aim to raise up to $421 million by offering approximately 21 million shares priced between $18 and $20 each

Bunge Q4 profit falls on weak oilseed margins; 2025 outlook weakens

Bunge's agribusiness segment, which represents over 80% of its total revenue, saw adjusted core earnings decline to $364 million in the fourth quarter from $639 million a year earlier

Kremlin says contacts with Trump's team intensified over Ukraine, Nato

Russian Foreign Minister Sergei Lavrov welcomed what he described as an acknowledgment from Trump that drawing Ukraine towards NATO was a mistake

Here're the foreign companies embroiled in tax disputes with govt

South Korea's Kia has been accused of dodging $155 million in taxes by misclassifying some car component imports, but the company is contesting the charge privately with officials

Redington Q3 results: PAT up 18% at Rs 400 cr on steady PC, mobile demand

Redington, which is a distributor of Apple and Samsung products, reported a rise in profit to Rs 400 crore ($45.8 million) for the October-December quarter, from Rs 341 crore last year

Ahead of PM's US visit, govt to review tariff surcharges on over 30 items

In a bid to avoid President Donald Trump's growing tariff actions, India has already reduced average import tariff rates to 11 per cent from 13 per cent on several items in the latest Budget

South Korea temporarily bans DeepSeek over security concerns: Reports

Last month, Australian Treasurer Jim Chalmers called on Australians to be cautious when using the Chinese AI model while U.S. officials are also looking at DeepSeek's national security implications

Temu, Shein targeted as EU cracks down on unsafe ecommerce imports

It said the cheap imports pose unfair competition to EU sellers which follow the rules while the large number of packages being shipped has a negative impact on the environment and climate

US-China trade war intensifies, pushing gold prices to all-time highs

Meanwhile, global gold demand rose 1% to a record 4,974.5 metric tons in 2024, driven by higher investment and increased central bank purchases in the 4th quarter, according to the World Gold Council

Page Industries Q3 results: Net profit rises to Rs 205 cr, revenue up 7%

The apparel maker reported a profit of Rs 205 crore ($23.4 million) for the quarter ended Dec. 31, 2024, compared with Rs 152 crore a year ago

Adani Wilmar bets on urban revival, quick grocery delivery to boost growth

Top executives in sectors such as consumer goods and automobiles expect India's plans to cut personal income tax rates

Titan likely to pay more to source gold from bullion banks as supply falls

Jewellers such as Titan, which owns the Tanishq and CaratLane brands, lease gold from bullion banks, which import the metal, to avoid inventory risks due to fluctuation in prices

Zydus Life Q3 results: Net profit jumps 30% to Rs 1,024 cr on strong demand

The United States is the company's biggest market accounting for 47 per cent of total revenue, followed by India