Business

New Delhi, July 12 : Retail inflation rate accelerated to a five-month high of 5.0 percent in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.

June was the eighth straight month in which inflation was higher than the central bank's medium-term target of 4 percent. Economists polled by news agency Reuters had forecast June's annual increase in the consumer price index at 5.30 percent, compared with May's 4.87 percent. 

Iran on Tuesday criticized India for not fulfilling its promise of making investments in the expansion of the strategically located Chabahar Port.

“It is unfortunate that Indian investment promises for the expansion of Chabahar Port and its connectivity projects have not been accomplished. India is expected to take immediate and necessary measures in this regard if its cooperation and engagement in Chabahar Port are of strategic nature,” Iran’s Deputy Ambassador and Charge d’Affaires Masoud Rezvanian Rahaqi said.

The US President Donald Trump, talking to the reporters on Tuesday morning, said that he expects to see the country (UK) in “turmoil” when he lands there for a two-day visit.

Trump spoke to reporters on the south lawn of the White House on Tuesday morning, before boarding Marine One to begin his trip to Europe.

PTI; New Delhi, Jul 8 : India has conveyed to Russia its unwillingness to go ahead with the joint development of a fifth-generation fighter aircraft (FGFA) primarily due to high cost involved in the project, official sources said.

GUANGZHOU/SHANGHAI, July 7 (Xinhua) -- Companies from China and the United States are concerned about the impact of trade tensions between the world's top two economies after the United States began imposing a 25-percent additional tariff on Chinese products worth 34 billion U.S. dollars Friday.

China's customs authority announced that additional tariffs for some imports from the United States worth the same amount, including agricultural products, vehicles and aquatic products, also took effect on the same day.

JOHANNESBURG, July 5 (Xinhua) -- More than 120 experts from Brazil, Russia, India, China and South Africa (BRICS) and other southern African countries gathered Wednesday at a seminar here, contributing their wisdom to global governance in the interests of the people.

The theme of the seminar was "Contributing BRICS' Wisdom to Global Governance in the Interests of the People," which reflected the common wish of government leaders, think tank members and corporate executives in the "BRICS Plus" community to promote cooperation and benefit the people.

US and China have threatened to impose billions in tariff on 6 July, but China’s finance ministry issued a statement on Wednesday saying that it would not be the first to impose the levy.

“The Chinese government’s position has been stated many times. We absolutely will not fire the first shot, and will not implement tariff measures ahead of the United States doing so.”, stated the ministry.

Canadian government has finalised $12.6 billion tariffs on US goods. Foreign Minister Chrystia Freeland announced these tariffs on Friday, which will take effect from July 1.

Freeland said that the money will be spend to support companies and workers hurt by U.S. levies on Canadian steel and aluminum exports.

NOUAKCHOTT, Mauritania, July 2 (Xinhua) -- Forty-nine members of the African Union have signed the African continental free trade area (AfCFTA) agreement, said AU chairperson Paul Kagame on Monday.

Kagame, who is also the Rwandan president, made the announcement in Nouakchott during the closing ceremony of the 31st summit of the 55-member African Union.

South Africa, Sierra Leone, Namibia, Lesotho and Burundi signed the AfCFTA in Nouakchott. Chad and Swaziland ratified the agreement, which brings the total number of ratification to six.

27 June 2018; “Britain could end up paying up to £50bn for the Brexit divorce bill because the government has underestimated the costs of leaving, an influential group of MPs have warned.” Reported The Independent.

According to the Independent, Treasury’s earlier estimates missed out £10 billion of costs, including £3 billion towards the European Development Fund.