Business

[ad_1] NEW DELHI: Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.Equity markets would remain closed on Monday for Dr Baba Saheb Ambedkar Jayanti and on Friday due to Good Friday. "The upcoming week is set to be volatile for global and Indian markets, as the trade war between China and the US intensified with both countries imposing tariffs on each other, causing turmoil in the markets. Domestically, WPI and Consumer Price Index inflation data are set to be released. On the global front major macroeconomic data of US, UK and China is set to be released," Puneet Singhania, director […]

[ad_1] Mehul Choksi (File photo) NEW DELHI: Fugitive diamond merchantMehul Choksi, wanted in connection with PNB scam of around Rs 14,000 crore, was arrested on Saturday in Belgium after a renewed extradition push by Indian probe agencies.His arrest came after years of evading authorities since he fled India in 2018.Choksi, 65, was reportedly detained from a hospital in Belgium, where he had been staying since last year after arriving there for medical treatment. Probe agencies, including the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), scaled-up their efforts to bring him back after the Interpol Red Notice against him was removed.The Belgian government had earlier confirmed Choksi’s presence in the country and said it was giving the matter “great importance and attention,” especially after he vanished from Antigua, where he had been living since 2018.His lawyer Vijay Agarwal […]

[ad_1] Mehul Choksi (AP file photo) NEW DELHI: After years on the run, fugitive diamond merchant Mehul Choksi was arrested in Belgium on Saturday. While Indian probe agencies are trying to extradite him to India, Choksi's legal team has already begun preparing to challenge India's request for his return.His lawyer, Vijay Aggarwal, said that Choksi’s detention will be contested on two primary grounds - the political nature of the case and serious concerns regarding his health and the state of Indian prisons."Basically, we will be defending it on two grounds. It is a political case and, secondly, because of the human condition in India," Aggarwal stressed. "His human rights will be greatly affected.""My client was taken into custody on Saturday. At the moment, he is in prison. The procedure is not to apply for bail; the procedure is to file […]

[ad_1] Mehul Choksi (File photo) NEW DELHI: Absconding diamond merchant and key accused in PNB scam case, Mehul Choksi, was arrested in Belgium on Saturday. However, Indian probe agencies may face a tough road ahead in securing his extradition, as Choksi is expected to cite health reasons in court to resist being brought back to India.The 65-year-old fugitive is preparing for a legal battle and may soon seek bail on medical grounds. Choksi, who has been living in Antigua since fleeing India in 2018, had travelled to Belgium last year, reportedly for cancer treatment.On Choksi's detention in Belgium, his lawyer Vijay Aggarwal defended him, saying, "My client was taken into custody on Saturday, at the moment, he is in prison, the procedure is not to apply for bail, the procedure is to apply for file and appeal, during that appeal, […]

[ad_1] China’s exports surged 12.4% in March compared to a year earlier, beating expectations as companies rushed to ship goods ahead of steep new US tariffs imposed by President Donald Trump, according to government data released Monday. Imports, meanwhile, dropped by 4.3% as global trade conditions remained volatile. In the first quarter of 2025, exports from the world’s second-largest economy rose 5.8%, while imports fell 7%. The trade balance with the United States remained a focal point, with China posting a $27.6 billion surplus in March, as exports to the US rose 4.5%. For the quarter, China’s surplus with the US reached $76.6 billion. The export boost comes as China faces 145% tariffs on many of its shipments to the US, following recent revisions in American trade policy. Yet, Chinese exporters found strong momentum in other regions, particularly Southeast Asia, […]

[ad_1] For Apple, India offers more than escape from China. It provides access to a growing domestic market. Apple produced $22 billion worth of iPhones in India in the 12 months through March 2025 — a staggering 60% jump from the prior year, according to a Bloomberg report. That means 1 in every 5 iPhones globally is now made in India, a sharp climb from near-zero just a few years ago.The iPhones are built across factories in Tamil Nadu and Karnataka, mostly by Foxconn, Apple’s biggest manufacturing partner globally. Tata Electronics and Pegatron also contribute to this growing output.Apple exported $17.4 billion worth of iPhones from India during the same period, according to IT minister Ashwini Vaishnaw, underscoring New Delhi’s emergence as a key export hub for Apple’s global supply chain.Why it mattersThis surge is a strategic retreat from China, […]

[ad_1] NEW DELHI: Foreign investors have pulled out Rs 31,575 crore from the country's equity markets so far this month, in the wake of turbulence emanating from sweeping tariffs imposed by the US on most nations, including India.This came following a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28. This infusion helped reduce the overall outflow for March to Rs 3,973 crore, according to data from the depositories.Compared to previous months, this marks a notable improvement. In Feb, foreign portfolio investors (FPIs) took out Rs 34,574 crore, while in Jan, the outflow was even higher at Rs 78,027 crore. This shift in investor sentiment highlighted the volatility and evolving dynamics in global financial markets.According to the data, FPIs pulled out Rs 31,575 crore from Indian equities between April 1 and April […]

[ad_1] BENGALURU: Even though TCS deferred its annual increments, an unprecedented departure from its April cycle, TCS EVP and CHRO Milind Lakkad said that the company rolled out 1.1 lakh promotions in FY25.They are in the process of hiring about 42,000 trainees in FY26, having recorded a similar number of hires in FY25.At the earnings presser, TCS CFO Samir Seksaria said the firm's tactical interventions were approximately 100 basis points, predominantly linked to promotions and merit-based advancements. However, some analysts felt that the demand cycle didn't warrant employee interventions out of cycle."Last year, we hired 40% digital hires compared to 17% the year before that. This is very strategic for us. For the four quarters, we had 13% attrition on the employee base we have. And we would need people for growth and for back-filling that attrition. And this (promotions) […]

[ad_1] Technology stocks rose after the Trump administration announced a pause in tariffs for phones, computers and consumer electronics, though officials later downplayed the reprieve.Shares of Apple Inc. climbed more than 6% on the Robinhood trading platform. Nasdaq 100 futures jumped more than 2.3% in early Asian trading hours Monday before halving the advance.In Taiwan, iPhone assembler Hon Hai Precision Industry Co. gained as much as 7.1%. South Korean parts maker LG Innotek Co., which gets the bulk of its revenue from Apple, surged as much as 8.9%. Nvidia Corp. supplier Advantest Corp. rose 6.3% in Tokyo. A gauge of Asian tech stocks climbed as much as 2.6%, boosting the regional benchmark.“We are in a much better spot than Friday” and tech investors “can now breathe a sigh of relief,” Wedbush analyst Daniel Ives wrote in a note. “But still […]

[ad_1] NEW DELHI: Ongoing uncertainty surrounding US trade policy—especially the recent tariff moves by the Trump administration—is expected to undermine business confidence and consumer sentiment across Asia, including India, and could significantly dampen regional growth, Moody’s Ratings said on Sunday.While President Donald Trump has announced a three-month delay in implementing reciprocal tariffs on most countries, China remains the exception, with a steep 125 per cent tariff already imposed. An additional 10 per cent duty on exports to the US will also continue, maintaining pressure on global trade dynamics.Nicky Dang, Senior Vice President at Moody’s Ratings, told PTI that "an escalation of US-Sino tensions and the spill-over effects from a slowdown in China pose significant downside risks to the region’s growth prospects."India may offer some resilience, but risks remainEconomies with large domestic markets, such as India, may benefit from companies looking […]