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Pakistan to invite fresh bids for privatising national airline PIA

However, Islamabad's attempt to privatise PIA last year fell flat when it received only a single offer, well below the asking price of more than $300 million

Prada to buy Versace for $1.375 bn, uniting top Italian fashion houses

Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss

India seeks quick trade deal with US after Donald Trump pauses tariffs

India and the United States agreed in February to work on the first phase of a trade deal to be concluded late this year, with a view to reaching two-way trade worth $500 billion by 2030

RBI deputy governor urges NBFCs to bolster risk controls, board oversight

NBFCs should not lose sight of fairness to the customer even as they pursue scale, speed, and profits, Swaminathan added

Safe havens rebound as China-US trade war anxiety overshadows tariff U-turn

The uptick in safe haven currencies came even with Asian stock markers surging, as they joined the global relief rally

US stocks surge, dollar gains in dramatic relief as Trump halts tariffs

The S&P 500 ended 9.5 per cent higher, while the Nasdaq rose 12.2 per cent in its biggest one-day gain since January 3, 2001

Whispers of change in China as some companies tell staff to work less

In another sign of how the zeitgeist for China Inc is slowly changing, a Beijing law firm was fined in March for not taking corrective measures after it illegally extended staff working hours

Walmart backs annual forecasts, vows to keep prices low amid tariff woes

The company's shares, which have fallen nearly 9 per cent since the announcement of a raft of tariffs on April 2, rose about 5 per cent in early trading

China, EU hit back with their own tariffs as Trump's trade war intensifies

China announced a tariff hike on US imports to 84 per cent from 34 per cent, shortly after Trump's punitive 104 per cent tariffs on Chinese imports kicked in on Wednesday

US sanctions Iran amid talks over nuclear programme, Trump issues warning

The US Treasury Department in a statement said it imposed sanctions on five Iran-based entities and one person based in Iran for their support of Iran's nuclear program

Fed's Musalem sees growth slipping below trend, higher inflation risk

Higher prices from tariffs could lead to a one-time price shock that the Fed could largely look through in setting policy, though Musalem said he regarded that approach as risky

Treasuries, US dollar see fall as Trump's trade war sparks recession fears

US stocks were in positive territory early, with investors weighing whether recent sharp selling may have been overdone, although trading remained choppy as it has been all week

JPMorgan CEO Dimon warns of recession & defaults, urges quick trade talks

JPMorgan's economists raised the risk of a US and global recession this year to 60 per cent from 40 per cent after Trump unveiled the trade barriers

Google unveils Ironwood, its 7th-gen AI chip to boost application speed

The search giant's multi-billion dollar, roughly decade-long effort represents one of the few viable alternative chips to Nvidia's powerful AI processors

Bessent says Treasury to play bigger role so lenders can finance growth

Bessent said Treasury's stronger involvement in crafting bank regulation would be achieved through the Financial Stability Oversight Council

Wall Street opens mixed after China retaliates with new tariffs on US goods

The Dow Jones Industrial Average fell 257.7 points, or 0.68 per cent, at the open to 37,387.91. The S&P 500 fell 17.5 points, or 0.35 per cent, at the open to 4,965.28

Ancora ends US Steel campaign after Trump orders review of Nippon Steel bid

The investor, which recently unveiled a plan that could deliver a cash offer of $75 per share, has said it had no intention of standing in the way of the $55 per share Nippon deal

US pushes ahead with 104% tariffs on China, says open to talks with others

The administration has scheduled talks with South Korea and Japan, two close allies and major trading partners, and Italian Prime Minister Giorgia Meloni is due to visit next week

RBI set to cut rates for a second time as US tariffs add to risks

In February, the RBI's six-member monetary policy committee delivered its first rate cut since May 2020 amid a slowdown in the economy, which is expected to have expanded 6.5 per cent in fiscal 2025

US considers adjusting port fee plan for Chinese vessels after pushback

The White House and the Office of the US Trade Representative (USTR), the government department involved in the drafting the proposal, did not respond to requests for comment