Business

China is making it harder for employees and specialised equipment needed for high-tech manufacturing in India and Southeast Asia to leave its borders, according to people familiar with the matter, a possible attempt to prevent companies from shifting production in anticipation of higher tariffs under US President-elect Donald Trump.Officials in Beijing have verbally encouraged regulatory agencies and local govts to …

NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if the new law to replace …

Watch: TikTokers say goodbye to their ‘Chinese spy’ as they move to RedNote The US Supreme Court has upheld a law that bans TikTok in the US unless its China-based parent company ByteDance sells the platform by this Sunday. TikTok had challenged the law, arguing it would violate free speech protections for the more than 170 million users it says …

NEW DELHI: General insurer ICICI Lombard on Friday reported a 68 per cent rise in its net profit at Rs 724 crore in the three months ended December 2024. The company had earned a net profit of Rs 431 crore in the same period a year ago. Its gross direct premium income for the quarter declined to Rs 6,214 crore …

MUMBAI: The country’s fifth biggest IT services firm Tech Mahindra on Friday reported a 93 per cent jump in December quarter net profit at Rs 983 crore, helped by a low-base in the year-ago period. The Mahindra group company’s performance was impacted in the year-ago period, and it had reported a net profit (after minority interest) of Rs 510 crore …

WASHINGTON: US industrial production fared much better than expected last month, the Federal Reserve said Friday, rising sharply as aircraft manufacturing rebounded after the end of a strike at Boeing. Industrial output increased by 0.9 percent in December after rising by a revised 0.2 percent a month prior, the Fed said in a statement.This was sharply above market expectations for …

NEW DELHI: Wipro‘s consolidated net profit for the December quarter stood at Rs 3,354 crore, up by 24.4 per cent from the corresponding quarter of the previous year. The IT major’s operational revenue increased modestly by 0.5 per cent growth, reaching Rs 22,319 crore.The company projected the revenue from the IT services in the range of $2,602 million and $2,655 …

The International Monetary Fund has warned that US economic policies under incoming president Donald Trump could hit the rest of the world and ultimately backfire on the US. The IMF says a threatened wave of tariffs could make trade tensions worse, lower investment, hit market pricing, distort trade flows and disrupt supply chains. Although tariffs, tax cuts and deregulation could …

NEW DELHI: India’s foreign exchange reserves declined by $8.714 billion to $625.871 billion for the week ended January 10, as reported by the RBI on Friday. The continuous decline in reserves over recent weeks has been attributed to revaluation and RBI’s interventions in the forex market to stabilise rupee fluctuations. Earlier, the reserves had decreased by $5.693 billion to $634.585 …

Strict rules on mortgage lending could be loosened to allow more people to borrow for a home, as regulators respond to a call to boost to the economy. In a letter to be published later on Friday, the Financial Conduct Authority (FCA) is expected to say it will investigate ways to simplify rules brought in following the 2008 financial crisis. …