July 27, 2025

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IMC EVENTS

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OTHER EVENTS

 

1
Aug

Two Day Conference on “Goods and Services Tax Law”- 1st– 2nd August 2025

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15
Aug

Gem City Ratnapura 2025 - International Gem and Jewellery Exhibition- 15th - 17th August 2025

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18
Sep

Industry Expo 2025, Colombo, Sri Lanka- 18th to 21st September 2025

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15
Oct

40th Trade Expo Indonesia Exhibition | Seminar | Business Matching | Trade Mission- 15th to 19th October 2025

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Notifications

 
CUSTOMS

23
Jul

Notification No. 47/2025 (Delhi)
S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 4, read with section 3 and sub sections (1) and (1A) of section 5 of the Customs Act, 1962

23
Jul

Circular No. 18/2025 (Delhi)
Submission of applications under MOOWR Scheme - reg.

23
Jul

Circular No. 19/2025 (Delhi)
Continuation of online application facility under MOOWR Scheme - hosted on Invest India portal - reg.

INCOME TAX

23
Jul

Notification No. 89/2025 (Delhi)
S.O. 3143(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 90/2025 (Delhi)
S.O. 3144(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 91/2025 (Delhi)
S.O. 3145(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 92/2025 (Delhi)
S.O. 3146(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 93/2025 (Delhi)
S.O. 3147(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 94/2025 (Delhi)
S.O. 3148(E).—In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Notification No. 95/2025 (Delhi)
S.O. 3149(E).— In exercise of the powers conferred by sub-clause (iv) of clause (c) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961

23
Jul

Circular No. 09/2025 (Delhi)
Partial Modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per Rule 114AAA of the Income-tax Rules, 1962 - reg.

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INDIAN ECONOMY

Jim Rogers says India may beat China, but only if Delhi gets one thing right

Veteran investor Jim Rogers says India could become “the new China”—or even better—if Delhi commits to pro-growth reforms, calling the country one of the most promising financial markets in the world. In an interview with ET Now, Rogers lauded India’s potential, crediting its educated, ambitious population...

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GST not only increased tax payers base but also lowered tax evasion over past 8 years: BoB

After the implementation of Goods and Services Tax (GST) in the country, the tax payers base has increased and tax evasion reduced, according to a research report by Bank of Baroda. The report highlighted that GST collections are closely linked with nominal consumption and net sales of companies. ...

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Cross-border platforms and development finance to power BRICS+ growth: EY Report

As BRICS+ economies deepen collaboration to reshape the global financial system, three key institutional initiatives: the cross-border payments platform, the New Development Bank (NDB), and the BRICS Contingent Reserve Arrangement (CRA) are gaining strategic momentum, according to the EY Economy Watch July 20...

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FE Exclusive: ‘Future cuts will be cautious,’ says Governor Sanjay Malhotra, ‘RBI focusing on price stability’

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday said that the central bank will continue to prioritise price stability while supporting growth in India, Asia’s third-largest economy. While speaking at the Financial Express Banking and Finance Summit in Mumbai ahead of the RBI’s key policy meeti...

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India-UK free trade deal could lift India’s GDP growth by 0.25%, says Elara Capital

India’s recently signed free trade agreement (FTA) with the United Kingdom could boost the country’s economic growth by up to 25 basis points over the next five years, a Bloomberg report quoted Elara Capital. Economist Garima Kapoor told Bloomberg TV that the pact could deliver an immediate 10-15 basis point ...

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Will react if CBAM hurts exports, India tells UK

India has reserved the right to take steps to protect its gains from the Comprehensive Economic and Trade Agreement (CETA) if the carbon tax proposed by the UK undermines its exports, sources said Friday. During the negotiations on CETA the issue of the carbon tax that has been proposed by the UK under the...

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Crop insurance default by states cross Rs 6450 crore in 5 years

The defaults in settlement of crop insurance claims by states under the highly subsidised Pradhan Mantri Fasal Bima Yojana (PMFBY) has exceeded Rs 6,450 crore in the five years through FY25, the agriculture ministry told Parliament on Friday. Andhra Pradesh (Rs 2565 crore), Rajasthan (Rs 1525 crore), Madhy...

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Government procurement: Govt defends leeway for UK, says $112-billion market opened for India

The public procurement provisions of the India-UK Comprehensive Economic and Trade Agreement (CETA) will open up $ 122 billion worth of market for Indian companies without any discrimination, commerce secretary Sunil Barthwal said Friday. “For the first time the UK has agreed to take a binding commitment t...

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MARKET & FINANCE

India's forex reserves dip by $1.18 bn to $695.49 bn for the week ending July 18

India's forex reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, data by the Reserve Bank of India showed on Friday. Previously, India's forex reserves dipped by $3.06 bn to $696.67 billion for the week ending July 11, data by the Reserve Bank of India showed on...

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GLOBAL CORPORATE

EU sanctions on Russia oil: Indian arm of UAE-based shipping company takes a hit; Indian-origin captain of crude oil tanker faces sanctions

EU's sanctions on Russia oil have hit an Indian branch of a UAE-based firm. Intershipping Services Hub Private Ltd, an Indian subsidiary of a UAE-based company, has been hit with sanctions from the European Union. The EU has also imposed sanctions on Captain Abhinav Kamal, who commands the crude oil tanker A...

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US Gulf Refiners Seek MidEast, S.American Oil to Offset Venezuela, Mexico Losses

U.S. Gulf Coast refiners are snapping up higher volumes of Middle Eastern and South American crudes to offset the loss of Venezuelan and Mexican barrels, according to ship tracking data, a workaround solution that might be short-lived if the U.S. allows some sanctioned Venezuelan crude to return to the market...

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US Business Equipment Spending Appears to Have Slowed Sharply in Second Quarter

New orders for key U.S.-manufactured capital goods unexpectedly fell in June while shipments of those products increased moderately, suggesting that business spending on equipment slowed considerably in the second quarter. Front-loading of activity ahead of President Donald Trump's aggressive and broad tar...

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Trump Tariffs Weigh on Brazil Chemical Exporters, Spark Order Cancellations

Chemical products companies in Brazil, which exported $2.4 billion to the U.S. last year, face a slew of contract cancellations as President Donald Trump has threatened a new 50% tariff on the South American nation's exports from August 1. Since Trump's announcement, export orders have been canceled for ce...

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Tesla Plans to Expand Chartered Transport Service, California Regulator Says

Tesla has told California it would expand operations of a chartered transportation service in the Bay Area, a state regulator said on Friday. The permit does not allow the company to run vehicles autonomously, the California Public Utilities Commission said. The update follows a report that Tesla was pr...

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China’s stealthy solar exports stay one step ahead of US tariffs

The hum of solar panel factories in this steamy island city doesn’t sound like much. But to American trade officials, it’s the muffled noise of rules being bent — or broken. In recent months, Batam, a duty-free Indonesian enclave a short ferry ride from Singapore, has become a key waypoint in a convoluted ...

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LVMH said to be in talks to offload fashion label Marc Jacobs

French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs, people familiar with the matter told Reuters on Friday. The Bernard Arnault-led company has been holding talks with potential buyers including Reebok-owner Authentic Brands Group and WHP Global, ...

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No more extensions for TikTok: Trump govt issues ultimatum for China, Lutnick says ‘America will control…’

TikTok may soon ‘go dark’ in the US after multiple extensions and repeated efforts to stitch together a divestment deal. US Commerce Secretary Howard Lutnick said the popular video-sharing platform would have to halt operations in the country if China did not approve a deal for the sale of its US arm. Preside...

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INCOME TAX

New Income-Tax Bill 2025 simplifies law, keeps policy intact: Baijayant Panda

The new Income-Tax Bill aims to simplify the language and structure of India’s tax law without altering its core policy framework, according to Lok Sabha MP Baijayant Panda. He noted that the existing Income Tax Act, 1961—now over six decades old and amended thousands of times—had become overly complex, even ...

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Big relief coming for taxpayers: THESE low-value income tax cases to be dropped soon

The central government is continuously working to simplify and streamline the tax system, aiming to reduce disputes. In this direction, Union Finance Minister Nirmala Sitharaman has reportedly given strict instructions to the Central Board of Direct Taxes (CBDT) to identify all departmental tax appeals involv...

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Form 10E: Why salaried employees must file this to get relief from tax on arrears

Why you need to claim Form 10E when you receive salary arrears If you have received a salary hike or promotion with arrears—salary that should have been paid in the previous years—it can inflate your taxable income in the year you receive it. Unless you can claim tax relief, you may end up paying more tax th...

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Banking

FE Exclusive: ‘Costs will have to be paid’, RBI Governor hints, free UPI era is over

The era of completely free digital transactions via the Unified Payments Interface (UPI) may be over soon, RBI Governor Sanjay Malhotra hinted at the Financial Express BFSI event in Mumbai today. While the UPI system remains free for the users, the cost for maintaining the payment infrastructure behind the...

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GLOBAL ECONOMY

Trade Report
Country Month Link
Switzerland July 2019 Click
IMF Sees Risk That UK Is Knocked off Course to Fix Public Finances

The International Monetary Fund said Britain's government risked being knocked off course for meeting its targets to repair the public finances and it urged finance minister Rachel Reeves to give herself more leeway through tax or...

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UK Short-Term Inflation Expectations Rise, Citi and YouGov Say

The British public's inflation expectations for the next 12 months rose in July and remained high over the longer term despite a slight dip from June, according to a survey published on Friday by bank Citi and opinion poll firm Yo...

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US Economic Data Quality a Worry, Authorities Not Acting Urgently Enough, Experts Say Reuters Poll

Risks to the quality of official U.S. economic data - long seen as the gold standard - are worrying 89 of 100 top policy experts polled by Reuters, with most also concerned that the authorities are not addressing the issue urgentl...

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Russia's Nabiullina on Rates, the Economy and the Banking Sector

Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank cut its key rate to 18% from 20%. They spoke in Russian and the quotes below were trans...

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Bank of Canada to Hold Rates Steady on July 30, but Cut Two More Times in 2025 Reuters Poll

The Bank of Canada will hold its overnight interest rate steady at 2.75% on July 30 for the third consecutive meeting thanks to a recent rise in inflation and a fall in unemployment, according to a Reuters poll of economists that ...

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Brazil Inflation Hits 5.3%, Central Bank Set to Hold Rates Next Week

Brazil's inflation remained well above the central bank's target range in its mid-July reading, official data showed on Friday, as policymakers gather next week for a meeting at which they are widely expected to hold interest rate...

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Canada Budget Deficit Over First Two Months of 2025/26 Jumps to C$6.50 Billion

Canada recorded a sharply higher C$6.50 billion ($4.71 billion) budget deficit for the first two months of the 2025/26 fiscal year as government expenditures grew but revenues stalled, the finance ministry said on Friday. By co...

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Colombia Central Bank Expected to Cut Rate After Inflation Dip Reuters Poll

Colombia's central bank will cut its benchmark interest rate next week, a Reuters poll suggested on Friday, although analysts expect the bank to act cautiously for the rest of the year due to the worsening state of the government'...

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Pakistan says it's close to US trade deal, Washington gives no timeline

Pakistani Foreign Minister Ishaq Dar said on Friday the United States and Pakistan were "very close" to a trade deal that could come within days, but comments from the U.S. after Dar met with Secretary of State Marco Rubio mention...

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INDIAN CORPORATE

Cipla targets $1 bn US revenue in FY27

Cipla aims to achieve $1 billion sales in the US by the next fiscal year, driven by the products it has lined up for launch which the Indian drug maker expects will more than compensate for the imminent patent expiry and price ero...

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Cipla Q1FY26: Net profit rises 10% to Rs 1,298 crore

Pharma major Cipla on Friday reported a 10 per cent year-on-year rise in its consolidated net profit to Rs 1,298 crore for the quarter ended June 2025 against Rs 1,177.64 crore same quarter previous year. Total revenue from the...

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Boost for Make in India: Bharat Dynamics wins Rs 809 crore missile contract from Armoured Vehicles Nigam

Hyderabad-based defence PSU Bharat Dynamics has bagged an order worth Rs 809 crore (gross) from Armoured Vehicles Nigam (AVNL) for the supply of an anti-tank guided missile (ATGM). The company said in a regulatory filing on Th...

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BoB’s net profit up 2% y-o-y as other income grows

Bank of Baroda’s net profit for April-June rose around 2% on year due to sharp rise in other income which rose 87.9% on year to Rs 4,675 crore in the reporting quarter....

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Tata Sons sets up asset arm for Indian Hotels

Tata Sons has taken a significant step to support the growth of Indian Hotels Company (IHCL) through a new hospitality asset platform. This strategic move will allow IHCL, which operates the Taj, Vivanta, SeleQtions and Ginger bra...

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Bajaj Finserv net profit up 30% on-year to Rs 2,789 crore

Bajaj Finserv on Friday reported a 30% year-on-year increase in its net profit to Rs 2,789 crore for the June quarter. The consolidated total income rose by 13% to Rs 35,451 crore. Bajaj Finance reported a 20% year-on-year rise...

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