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carbon tax, on their domestic industry, during WTO ministerial meeting next year, an official said. The four-day 13th ministerial conference (MC) of the World Trade Organization (WTO) is scheduled for February 26 next year in Abu Dhabi. MC is the highest decision-making body of WTO. «These issues will come up in the WTO in a big way. Countries like India will oppose these measures in the WTO,» the official said. In the first seven months of this year, the EU has introduced four regulations on climate change and trade. These are carbon border adjustment mechanism (CBAM); deforestation regulation; including shipping in the EU's emissions trade system; and Foreign subsidies regulation. EU member Germany too has announced a supply chain due diligence act (SCDDA). «This will become a major issue in the MC13. Many member countries have already submitted papers against some of these regulations in the WTO. It looks like discussions will happen on these regulations and a general view will also converge,» the government official, who did not wish to be named, said. Geneva-based 164 member multi-lateral body WTO deals with global exports and import-related norms. Besides, it adjudicates trade disputes between the member countries.

Russia's invasion of Ukraine. Profit after tax plunged to $1.8 billion in the three months to the end of June compared with $9.3 billion in the second quarter last year, BP said in a statement, mirroring hefty falls across the sector.

NCP chief Sharad Pawar, who shared stage with Prime Minister Narendra Modi at the Lokmanya Tilak National Award ceremony in Pune, could have turned his back on the event to clear doubts about him among those who have taken a dim view of it. An editorial in the Shiv Sena (UBT) mouthpiece 'Saamana' claimed PM Modi accused the Nationalist Congress Party (NCP) of corruption and then engineered a split in the party and muddied the politics in Maharashtra. «Still Sharad Pawar will welcome Modi and this has not gone down well with some people.

economic record that really matters is jobs. America’s roaring labour market beat expectations again in April. The unemployment rate is lower than in any year since 1969.

«The number of models may double from what we had at that time. We have now SUVs, we have electric vehicles, we have CNG, we have ethanol, we have hybrids, none of which were of much consequence in those days,» says RC Bhargava, Chairman, Maruti Suzuki.What are the changes that you have seen in the past few years? How are you dealing with the changing economic scenarios? The circumstances have changed substantially from 2014. And those circumstances now are different in the sense that the volumes of production which we have now and in the coming five, seven, eight years are going to be maybe three to four times higher than what they were when we started in 2014.

Telecom operators have installed over 3 lakh 5G mobile sites within 10 months of launch of the service, Union Telecom Minister Ashwini Vaishnaw said on Tuesday. The 5G sites have been installed across 714 districts.

Arvind Kejriwal and his team should understand that this is also an elected government, he added The controversial bill aims to replace an ordinance that granted the Centre control over Delhi's bureaucrats, thereby overriding a Supreme Court ruling favoring the elected government's authority in transfers and appointments. The AAP, led by Delhi Chief Minister, and other opposition parties have vehemently opposed the ordinance Speaking about their reservations against it, AAP leader Raghav Chadha said, "This is an attack on the Supreme Court of India and this is an assault on India's federal structure, democracy and Constitution." "This will change democracy into 'babucracy' in Delhi.

@elonmusk, while you try to colonize Mars —Russia try to occupy Ukraine! While your rockets successfully land from space—Russian rockets attack Ukrainian civil people! We ask you to provide Ukraine with Starlink stations and to address sane Russians to stand. Mr Musk replied to him within hours, saying that the Starlink service had been turned on over Ukraine and that the hardware would follow. Within days lorries full of the pizza-sized flat dishes used to access the satellites began to arrive in Ukraine.

Homegrown self-tanner and skincare brand Bondi Sands has been offloaded to Japan’s chemical and beauty giant Kao Corporation in a cash deal estimated to be worth $450 million.

Europe's economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend. The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year, the EU statistics agency Eurostat reported Monday. That's an improvement over zero growth in the first quarter and a slight decline in fourth quarter of last year — but not by much.

These moments, which might seem unrelated, represent a transformation in world trade. US-China tensions and Russia’s invasion of Ukraine are leading companies to bring supply chains closer to home. A shift from fossil fuels is spurring demand for materials essential for electrification.

income tax department has extended this deadline or not, then the answer is no. The income tax department has not extended the deadline to file ITR. Despite there being several reasons for extending the ITR filing deadline, the income tax department has not provided any relief to taxpayers who hadn't filed their ITR by July 31, 2023.

China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard «national security and interests» amid escalating tension with the United States over access to technology. The restrictions on equipment, including some drone engines, lasers, communication equipment and anti-drone systems, will take effect on Sept. 1, the commerce ministry said.

LIC Mutual Fund (LIC MF) on Monday said it has completed the takeover of schemes of IDBI Mutual Fund. The move is in line with LIC MF's aim to strengthen and diversify its product offerings, expand footprint and grow its assets under management (AUM) to emerge as a leading fund house in the country, according to a statement. The merger is effective from July 29. As of June 2023, LIC MF had an AUM of Rs 18,400 crore, while IDBI MF had Rs 3,650 crore.

Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.

Paytm brand, wants the government to bring payment segment devices under the production-linked incentive scheme to boost local production, a top company official said on Monday. Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones. While announcing the launch of two new models of payment soundboxes, Sharma said that India is a services-dominated country and there is a need to go towards manufacturing for job creation.

Maruti Suzuki: Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a standalone net profit of ₹2,485.1 crore in the quarter ended June 2023. The company’s net profit jumped by a robust 145% as compared to ₹1,012.8 crore in the same quarter last year. This was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income.

Hindustan Times. The average rainfall in Mumbai Metropolitan reported from 8 am of 30 July to 31 July was 2.75 mm in Mumbai city, 12.43 mm in Eastern suburbs while 10.42 mm in Western suburbs. The water stock also in the city as of 6 am yesterday stood at 75.54 percent.

cosmetics, including lipstick, nail polish and eyeliner, were sold in the past six months in the top 10 Indian cities. Customers spent more than ₹5,000 crore on these beauty products, with 40% of them buying online, according to Kantar Worldpanel's first study on the category in India.

KB Advisory founder Kristin Bentz discusses whether the U.S. economy is starting to see cracks in consumer spending on Making Money.

Kasowitz Benson Torres’ Marc Kasowitz details the ongoing legal battle between Yellow and the Teamsters Union on ‘The Claman Countdown.’