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Volkswagen India 'misclassified imports'; faces $1.4 bn tax evasion notice

A notice dated Sept 30 says Volkswagen used to import 'almost the entire' car in unassembled condition -- which attracts a 30-35 per cent import tax in India under rules for CKD, or completely knocked

RBI devolves 70% new green bonds at 6.78%-6.84%, cutoff below 10-year note

The RBI sold around 15 billion rupees ($177.53 million) worth of 10-year green bonds to investors at a 6.79% coupon but devolved nearly 35 billion rupees worth of the note, the first such devolvement

Asset manager Amundi targets India debt with two recent fund launches

To add to the dollar-denominated exchange-traded fund (ETF) launched in September, the fund house launched the rupee-denominated India Bond Fund earlier this month

UK transport minister Louise Haigh quits in new blow to PM Starmer

In her resignation letter shared by Starmer's office early on Friday, Haigh said she was standing down as the issue 'will inevitably be a distraction from delivering on the work of this government'

HSBC pulling back from China credit card biz after struggling to expand

HSBC has stopped issuing new cards and is working towards winding down the service offered to a large part of China onshore customers

Govt to expand EV manufacturing incentives after Tesla disappointment

Under the policy announced in March, an automaker investing at least $500 million to manufacture EVs in India with 50 per cent of components sourced locally is entitled to a huge cut on import taxes

Australia 'rushed' social media ban for those under 16, says Big Tech

Govt had warned Big Tech of its plans, and first announced the ban after parliamentary inquiry earlier this year that heard testimony from parents of children who had self-harmed after cyber bullying

Taiwan disappointed as trans-pacific trade pact ignores membership request

Taiwan has few international trade agreements due to its diplomatic isolation because of pressure from China, which views the democratically governed island as its own territory

UN plastic treaty talks aim for breakthrough ahead of Dec 1 deadline

In an attempt to speed up the process, INC Chair Luis Vayas Valdivieso is holding informal meetings on Friday to try and tackle the most divisive issues

Chinese court sentences journalist to seven years for espionage

He wrote opinion articles in Chinese media and liberal academic journals on topics from legal reforms to social issues, and co-edited a book promoting the rule of law in China

Ottawa must ensure Trump understands importance of Canadian oil to US: Min

Trump, who takes office on Jan 20, said on Monday he would impose a 25 per cent tariff on imports from Canada and Mexico until they clamped down on drugs and migrants crossing the border

Adani wipeout will hurt sentiment, not long-term outlook: Global investors

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place

Iran plans to install new uranium-enrichment centrifuges, says IAEA report

More enrichment capacity means Iran can enrich uranium more quickly, potentially increasing the nuclear proliferation risk

World's biggest steelmakers failing to switch to renewables: Survey

Steel is responsible for 7% of global carbon dioxide emissions, around the same as India, with coal-fired blast furnaces producing 2 metric tons of CO2 for each ton of output

Australia passes law to impose ban on social media for children under 16

The law forces tech giants from Instagram and Facebook owner Meta to TikTok to stop minors logging in or face fines of up to A$49.5 million ($32 million)

Govt in talks with Mongolia to set up pact focusing mineral shipments

The talks come at a time when multiple domestic steelmakers, such as JSW Steel and SAIL, are also in talks with the landlocked nation to import coking coal

Russia could strike 'decision-making centres' in Kyiv, says Putin

Russian attacks have not so far struck government buildings in the Ukrainian capital. Kyiv is heavily protected by air defences, but Putin says Russia's Oreshnik hypersonic missile

Rupee declines on FPI outflows, avoids record low on RBI intervention

The rupee closed at 84.4850 against the U.S. dollar, down from its close of 84.4525 in the previous session

Indian banks reviewing exposure to Adani Group after US indictment

SBI has the largest exposure to the Adani Group among Indian banks, with sanctioned loans of Rs 33,800 crore ($4 billion)

From airports to cooking oil, a look at the diverse businesses of Adani

The renewable energy arm of the ports-to-power conglomerate is Adani Green Energy, which is at the center of the US indictment. It focuses on solar, wind and hybrid power generation and has a presence