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India raises windfall tax on crude oil to Rs 1,600 per tonne from July 15

India had cut the windfall tax on petroleum crude to zero from Rs 4,100 ($50.13) per metric tonne, in May

Govt to consider new drugs bill to regulate imports and manufacturing

India's 'pharmacy of the world' image has suffered some damage after cough syrups made there were linked to the death of at least 89 children in Gambia and Uzbekistan last year

Chinese giant BYD prepares $1 bn bet to build EVs, batteries in India

The company previously said it planned to set up manufacturing in India, now the world's third-largest car market

Govt offers firms more time to seek IT hardware production incentives

The window to apply for the scheme - PLI 2.0 for IT Hardware - was previously supposed to close on July 15

Wells Fargo raises outlook for interest income after profit surges 57%

Wells Fargo reported profit of $1.25 per share for the three months ended June 30, beating analysts' average estimate of $1.16 per share, according to Refinitiv data

Citigroup profit drops 36% as trading slump casts cloud over earnings

Net income sank to $2.92 billion, or $1.33 per share, in the three months to June 30, the bank reported on Friday

JPMorgan second-quarter profit rises 67% on higher interest income

The largest US lender's profit climbed to $14.47 billion, or $4.75 per share, for the quarter ended June 30

Indian refiners used Chinese yuan to pay for some Russian oil imports

The official also said the Reserve Bank of India will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism

RBI to give banks guidance to resolve rupee trade issues, says official

The issue with rupee trade is that it can only work as a barter currency, the official said

China's BYD proposes $1 bn India plan to build EVs, batteries: Reports

The longer-term plan is to build a full line-up of BYD-brand electric cars in India from hatchbacks to luxury models, one of the three people said

Worried about obscenity, India asks OTT platforms for content checks

India has told Netflix , Disney and other streaming services that their content should be independently reviewed for obscenity and violence before being shown online

Australia picks first female central bank head to shepherd through reform

Lowe will leave on Sept. 17, marking the end of his 43-year career at the bank. The decision comes as Lowe is due to accompany Chalmers to a Group of 20 meeting in India next week

Dollar buckles on US disinflation signs as Fed nears end of hiking cycle

Against a basket of six currencies, the dollar index fell 0.8% to 99.738, after dropping earlier to 99.767, a new 15-month trough. The dollar index was headed for its biggest weekly slide in 2023

Finance ministry not considering tax waivers for Tesla: Revenue Secy

Last month, Tesla CEO Elon Musk said Indian Prime Minister Narendra Modi was pushing the car maker to make a "significant investment" in the country, adding that such an announcement was expected soon

Mixed picture: IMF sees 'resilience', slowing momentum in global economy

G20 countries also need to tighten fiscal policy to ensure debt sustainability, create fiscal space and to help support disinflation by reducing aggregate demand, the Fund said.

India to reject call for anti-subsidy tax on some Chinese steel products

As per World Trade Organisation rules, a member country is allowed to impose an anti-subsidy duty if a product is subsidised by the government of its trading partner

Personal reputations and data at risk: US begins investigation into OpenAI

As the race to develop more powerful AI services accelerates, regulatory scrutiny is growing of the technology that could upend the way societies and businesses operate

Indian online gaming firms relocating to avoid tax will be risky: Official

Indian online gaming firms planning to relocate overseas to avoid a new 28% tax on the sector run the risk of violating the country's forex laws, Johri, head of the indirect taxes' department, said

European Central Bank policymakers open to further rate hikes past July

The ECB's account of that meeting showed rate increases might continue at the central bank's following gathering on Sept 13-14, as earlier reported by Reuters

Stockbroker Angel One logs rise in profit by 22% in Q1 as orders surge

Angel One held a 12.5% share in the number of demat accounts in India in the June quarter, up from 10.8% last year