Business & Economy

New Delhi: The recent interim trade agreement between India and the United States has paved the way for significant tax relief on heavy-engine vehicles, but electric vehicle manufacturers like Tesla remain unaffected, marking a setback for Elon Musk in India’s rapidly growing EV market. Luxury Vehicle Tax Cuts Under the agreement, India will completely eliminate import duties on Harley-Davidson motorcycles, allowing these premium bikes to be sold in India without additional taxes. Similarly, luxury cars from the U.S. will see a gradual reduction in import duties: from a previous high of 110%, duties will now taper to 30% over the next 10 years. Tesla and Electric Vehicles Left Out Despite the concessions for traditional vehicles, electric vehicles (EVs) were excluded from tax r...

New Delhi: The remarkable journey of George V Nereaparambil stands as a testament to how hard work, vision, and perseverance can overcome any obstacle. Once a mechanic supporting his family, today he owns a fortune worth ₹4,800 crore and 22 luxury apartments in Dubai’s iconic Burj Khalifa. Humble Beginnings in Kerala Born into a modest family in Kerala, George started working at a young age to support his household. He helped his father with agricultural work and also worked as a mechanic, fixing machines to earn a living. These early challenges instilled in him discipline, resilience, and an unwavering drive for success. Early Entrepreneurial Ventures Before moving abroad, George experimented with small businesses in India. One of his initial ventures involved producing glue f...

New Delhi: Indian equity markets closed on a positive note last Friday, with both benchmark indices posting gains. The BSE Sensex climbed 266.47 points to settle at 83,580.40, while the NSE Nifty 50 rose 50.90 points to end at 25,693.70. The gains came amid the RBI’s decision to maintain policy interest rates and proposals approving credit for Real Estate Investment Trusts (REITs), which boosted investor sentiment. During the session, the Sensex saw a day-low of 82,925.35, but surged 655 points intraday to close higher. The markets witnessed volatility throughout the trading day. Sector Movers and Market Highlights Among Sensex constituents, ITC led the charge with a 5.09% jump, followed by Kotak Mahindra Bank, Hindustan Unilever, Bharti Airtel, Bajaj Finance, Power Grid, and Baja...

New Delhi: The national capital is gearing up for a flurry of activity as the India AI Impact Summit 2026 approaches, and five-star hotel rooms are witnessing unprecedented price surges. Scheduled from 16–20 February 2026 at Bharat Mandapam, the summit is expected to host thousands of delegates from over 100 countries, including 15–20 heads of state, more than 50 ministers, and over 40 global and Indian corporate leaders. Record-Breaking Room Rates According to reports, demand has driven room rates at premier hotels to record levels. The Imperial Hotel, for instance, will charge ₹197,049 per night on 16 February, plus an additional tax of ₹35,469, bringing the total to ₹2,32,518 per night. Hyatt Regency, Delhi, is charging approximately ₹50,000 per night, while The Leela Palace, Delh...

New Delhi: Precious metals are witnessing extreme volatility, swinging sharply within a single day. Gold is currently down nearly 23% from its all-time high, while silver has fallen roughly 40% from its peak. The sudden swings have left investors wondering: is this the right moment to invest, or should one wait for further declines? Recent Price Movements On the MCX, April gold futures surged over 2% to ₹1,55,374 per 10 grams, recovering from recent losses due to short-covering amid global uncertainty. March silver futures rose nearly 3% to ₹2,50,300 per kilogram. Internationally, spot gold jumped 3.9% to $4,954.92 per ounce, reclaiming losses from earlier sessions, while spot silver soared 8.6% to $77.33 per ounce after dipping below $65 earlier in the day. Despite these intraday...

New Delhi / Moscow: Russia is grappling with a severe labor crisis, one of the most alarming in decades, prompting the country to seek workers from highly populated nations beyond Central Asia. India has emerged as a key partner in addressing this shortage, leading to a significant increase in work permits for Indian nationals. Russia is also recruiting workers from Sri Lanka and China to fill the gap. Decades-Long Demographic and War Pressures The shortage stems from Russia’s demographic decline and the economic disruptions caused by the Ukraine war. Analysts estimate that the Russian economy will need an additional 11 million workers by the end of the decade. During President Vladimir Putin’s visit to New Delhi, agreements were signed to simplify temporary labor migration, paving t...

New Delhi: In a major relief for India, former US President Donald Trump has rolled back the additional 25% punitive tariff imposed on Indian goods over the issue of Russian oil imports. The decision has been announced through an Executive Order issued under an interim trade understanding between the two countries. However, experts caution that this rollback is not unconditional and could quickly turn into a pressure mechanism against India. Rollback Comes With Strict Monitoring Clause Geo-strategist Brahma Chellaney has warned that the real impact of Trump’s Executive Order lies not in the relief itself, but in the strict surveillance framework attached to it. In a post on social media platform X, Chellaney said the order formally authorises the US Commerce Secretary to closely m...

New Delhi: The prices of precious and industrial metals have witnessed extreme volatility over the past eight days, leaving investors and traders shocked. Gold, silver and copper, which were at record highs on January 29, have now corrected sharply on the Multi Commodity Exchange (MCX). In a dramatic turnaround, silver has fallen by over 45%, gold has dropped by more than 22%, and copper has slipped nearly 16–18%, raising serious concerns among market participants. With constant fluctuations in prices, people are now asking the same questions everywhere—how long will this decline continue, is this the right time to buy, should existing holdings be sold, or should investors shift toward copper? Metals Were at Peak on January 29 On January 29, 2026, all three metals were trading ...

New Delhi: India and the United States have taken a major step toward strengthening their economic partnership by finalizing an interim trade framework agreement. The deal, aimed at reducing tariffs, improving supply chain security, and boosting bilateral cooperation, was officially signed by US President Donald Trump. This interim framework is being seen as a key milestone toward the proposed US–India Bilateral Trade Agreement (BTA), negotiations for which began in February 2025. Officials believe the agreement will bring balance to trade relations while ensuring safer and more reliable global supply chains. India to Reduce Tariffs on Several US Goods As part of the agreement, India has committed to cutting or eliminating tariffs on a wide range of American products, especially i...

New Delhi: As people grow older, their healthcare needs become more frequent, complex, and expensive. For senior citizens, medical issues such as heart disease, diabetes, kidney problems, and sudden emergencies can arise at any time. This is why experts advise families to choose a comprehensive health insurance plan for elderly parents instead of relying only on basic hospitalization coverage. Insurance specialists say that gifting a well-designed health insurance policy to senior loved ones is one of the most meaningful ways to ensure their safety and financial security. According to Amarnath Saxena, Chief Technical Officer (Commercial), Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company Limited), a senior citizen health policy should include several e...