Economy news

• EU–US goods trade hits record €875 billion despite tariffs: Study

  03-07-2026 12:54 via timesofindia.indiatimes.com
  
  Despite tariffs, EU-US trade hit a record €875 billion last year. However, a new study reveals underlying strain, particularly for Germany's auto sector, which saw a significant export drop. While Ireland's pharmaceutical exports surged, masking regional weakness, services trade also reached new heights, though the EU faced a deficit. The report warns against further tariff threats, emphasizing the need for stability.
  
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• Centre cracks whip on Meta over Instagram ads promoting child sexual abuse material

  03-07-2026 13:56 via timesofindia.indiatimes.com
  
  India's IT Minister Ashwini Vaishnaw has ordered officials to summon Meta following reports of Instagram advertisements featuring child sexual abuse material. This action highlights growing concerns about objectionable content on social media and the effectiveness of content moderation on platforms like Instagram. The ministry is seeking answers regarding the platform's handling of such serious issues.
  
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• India’s women-owned business map has a western tilt

  03-07-2026 13:35 via timesofindia.indiatimes.com
  
  Women's entrepreneurship is growing in India, but unevenly. Cities in Gujarat and Maharashtra lead in female-owned businesses, while northern cities lag. This disparity highlights the complex interplay of economic structure, local conditions, and societal norms. While government initiatives are noted, deeper empowerment hinges on grassroots changes within homes and local markets, suggesting a patchwork of progress rather than a uniform national trend.
  
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• Oil slips to pre-Iran war levels: Is a petrol, diesel price cut coming?

  03-07-2026 12:49 via timesofindia.indiatimes.com
  
  Petrol and diesel prices in India have risen by around Rs 7.5 per litre since May 15. The first hike in the retail rates came over two and a half months after the US-Iran war began. Private retailer Nayara Energy has already cut rates of petrol and diesel.
  
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• New Gold Monetisation Scheme in the works: How government aims to reduce dependence on imported gold

  03-07-2026 12:01 via timesofindia.indiatimes.com
  
  The proposal has gained traction following multiple meetings held over the past two weeks involving senior government ministers, officials from the Reserve Bank of India, banks and representatives of the gold industry, the report said.
  
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• Why Delhi's EV policy poses big risk if adopted by other states

  03-07-2026 11:00 via timesofindia.indiatimes.com
  
  Delhi's new EV Policy 2026 aims to accelerate clean mobility by phasing out petrol and CNG two-wheelers by April 2028 and mandating electric three-wheelers from 2027. While offering substantial incentives, a Morgan Stanley report warns that wider adoption by other states could pose a significant challenge for automakers, especially in the two-wheeler segment. The policy includes Rs 70 billion in direct incentives and aims to install over 30,000 charging points.
  
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• India's services sector growth falls to 17-month low as hiring stalls, demand weakens

  03-07-2026 10:46 via timesofindia.indiatimes.com
  
  India's services sector experienced a significant slowdown in June, reaching a 17-month low due to weakening domestic demand and subdued hiring. While export orders provided a bright spot, overall business activity moderated. This trend also impacted the broader private sector, with the composite PMI indicating slower growth. Despite the cooling, the sector remains in expansionary territory.
  
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• Govt orders removal of 3 apps being 'misused' in remotely disabling e-rickshaws

  03-07-2026 09:23 via timesofindia.indiatimes.com
  
  Authorities have removed two smartphone applications, including the Chinese BAT-BMS app, from app stores following reports of e-rickshaws being remotely disabled. These apps, designed for battery management, were allegedly exploited to disrupt vehicles by connecting to unsecured Bluetooth-enabled battery systems. The government is urging app stores to enhance scrutiny to prevent the availability of such potentially harmful applications.
  
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• Centre removes 2 apps from app stores after e-rickshaw remote shutdown reports

  03-07-2026 09:23 via timesofindia.indiatimes.com
  
  Authorities have removed two smartphone applications, including the Chinese BAT-BMS app, from app stores following reports of e-rickshaws being remotely disabled. These apps, designed for battery management, were allegedly exploited to disrupt vehicles by connecting to unsecured Bluetooth-enabled battery systems. The government is urging app stores to enhance scrutiny to prevent the availability of such potentially harmful applications.
  
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• Sharp rebound! India’s crude inventory hits almost 1-year high; strong oil imports help replenish stocks depleted during US-Iran war

  03-07-2026 08:36 via timesofindia.indiatimes.com
  
  According to estimates from Kpler, a global real-time data and analytics provider, India's crude oil inventory stood at 104 million barrels at the end of June, up significantly from 90.5 million barrels at the end of April. With the closure of the Strait of Hormuz during the conflict threatening nearly 40% of India's crude oil imports, refiners moved quickly to source alternative supplies from global markets.
  
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• Gold price prediction: Will gold price rally continue & should investors buy on dips? Check July 3, 2026 outlook

  03-07-2026 08:04 via timesofindia.indiatimes.com
  
  Gold price prediction today: In today’s session, gold is exhibiting a bullish bias, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, recommending a buy on dips strategy.
  
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• Top stocks to buy today: Stock recommendations for July 3, 2026 - check list

  03-07-2026 05:44 via timesofindia.indiatimes.com
  
  Stock market recommendations: ITC, and Ramco Industries - these are the top stocks to buy recommended by Bajaj Broking Research for July 3, 2026. Let’s take a look:
  
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• Fuel-hit Russia bought gasoline produced by India’s Nayara Energy via traders: Report

  03-07-2026 05:36 via timesofindia.indiatimes.com
  
  Russia is reportedly sourcing gasoline from India via international traders to counter fuel shortages stemming from Ukrainian attacks on its infrastructure. Nayara Energy, with a significant stake held by Russian oil giant Rosneft, is identified as a key supplier. While Indian officials state no direct sales, they acknowledge indirect sourcing through trading firms. This development follows reports of substantial gasoline shipments from India to Russia.
  
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• Carlsberg files IPO papers confidentially

  03-07-2026 00:23 via timesofindia.indiatimes.com
  
  Danish brewer Carlsberg has confidentially submitted draft IPO papers for its Indian operations to Sebi.While the timing and progress depend on regulatory approvals and market conditions, the offering is understood to be a secondary share sale. This move signals a potential boost to the IPO market, which is seeing increased activity with other major companies also preparing for listings.
  
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• Govt expects pick-up in economy as West Asia situation improves

  02-07-2026 23:33 via timesofindia.indiatimes.com
  
  India's economy is showing robust resilience, with strong GDP growth, expanding manufacturing and services, and healthy GST collections. Despite initial global uncertainties and a weaker monsoon, domestic demand and investment remain strong. Government's sustained capital expenditure, particularly in infrastructure like railways, is front-loaded, boosting sectors like construction and transport, and signaling a positive economic outlook.
  
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• Cryptocurrency difficult to regulate, RBI tells Parliamentary panel

  02-07-2026 23:29 via timesofindia.indiatimes.com
  
  The Reserve Bank of India has firmly stated its opposition to legalizing cryptocurrencies, citing concerns about their potential to fund illicit activities like drug trafficking and terrorism. The central bank emphasized the challenges in regulating virtual digital assets, particularly for emerging economies like India. In contrast, the Institute of Chartered Accountants of India sees VDAs as strategic opportunities, advocating for a comprehensive law to boost cross-border payments and fintech i
  
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• OMCs back in foreign exchange market? Spike in $ demand raises buzz

  02-07-2026 23:24 via timesofindia.indiatimes.com
  
  The Indian rupee weakened against the dollar, closing at 95.4, as oil marketing companies reportedly resumed significant dollar purchases for upcoming crude oil imports. This renewed demand for dollars, despite positive global sentiment for Asian currencies and lower oil prices, has raised concerns about rupee volatility. Experts anticipate a potential return to stronger rupee levels once this temporary dollar demand subsides.
  
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• Adani, IHC join hands for $11.5 billion aluminium project

  02-07-2026 23:14 via timesofindia.indiatimes.com
  
  Abu Dhabi's International Holding Company is significantly expanding its partnership with the Adani Group by investing $11.5 billion in a massive integrated aluminium project in Odisha. This joint venture will establish one of India's largest aluminium hubs, featuring a refinery, smelter, and power plant. The move comes as Adani Enterprises also launched a $1 billion qualified institutional placement, bolstering its capital raise efforts.
  
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• Chipflation is here and you'll have to pay for it

  02-07-2026 23:01 via timesofindia.indiatimes.com
  
  The AI boom is driving up the cost of everyday electronics, a phenomenon dubbed 'chipflation'.Memory chip prices have surged dramatically, impacting everything from smart TVs and smartphones to kitchen appliances.Manufacturers are diverting chip production to AI infrastructure, leading to scarcity and price hikes for consumers.This could significantly slow down upgrades for budget-conscious buyers, with global smartphone shipments expected to hit a decade low.
  
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• Bank of Baroda enters 5.7k crore settlement with creditors of NMC Health

  02-07-2026 22:51 via timesofindia.indiatimes.com
  
  Bank of Baroda has settled a major legal dispute, agreeing to pay $600 million to administrators of the collapsed NMC Health group. This out-of-court agreement concludes years of litigation concerning cross-border insolvency and alleged fraud following NMC's 2020 downfall. The payment will be distributed to creditors, with the bank's shares seeing a reaction to the news.
  
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• Recruiters deploy AI to catch ghost coders

  02-07-2026 22:48 via timesofindia.indiatimes.com
  
  Campus hiring faces a new wave of sophisticated cheating, fueled by GenAI. Recruiters are battling hidden devices, AI tools, proxy candidates, and ghost coders. To counter this, companies are increasingly deploying AI-powered proctoring and shifting away from browser-based tests.Experts highlight that live follow-up interviews are proving effective in exposing candidates who relied on AI assistance.
  
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• US stock market today: Wall street trades mixed after job data release; Dow jumps 400 points, Nasdaq trades flat

  02-07-2026 16:52 via timesofindia.indiatimes.com
  
  Wall Street saw a mixed trading session as a weaker-than-expected US jobs report fueled hopes the Federal Reserve might pause interest rate hikes. The Dow and S&P 500 edged up, while the Nasdaq dipped. Investors are now betting on an 80% chance of the Fed holding rates steady, influenced by easing inflation concerns and falling oil prices. This sentiment also boosted cryptocurrency-linked stocks.
  
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• US adds just 57,000 jobs in June as hiring loses momentum despite easing unemployment

  02-07-2026 16:29 via timesofindia.indiatimes.com
  
  US job creation significantly decelerated in June, with only 57,000 new positions added, a stark drop from May's revised figure. While the unemployment rate dipped slightly to 4.2%, the labor force participation rate also declined.Despite job gains in sectors like healthcare and professional services, leisure and hospitality saw a notable loss. Layoffs, however, remained subdued, indicating a stable, albeit slower, labor market.
  
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• Japan’s Rs 1 trillion investment push in India: PM Modi and Japanese PM Sanae Takaichi unveil initiatives to boost ties

  02-07-2026 16:29 via timesofindia.indiatimes.com
  
  Highlighting the growing economic partnership between the two nations, PM Modi said more than 100 new business agreements had been signed over the past year, paving the way for Japanese investments worth over $10 billion in India.
  
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• Market wrap: Top gainers and losers on NSE Nifty50 and BSE Sensex today

  02-07-2026 15:01 via timesofindia.indiatimes.com
  
  Indian stock markets surged on Thursday, with Sensex and Nifty climbing nearly 1%. A significant rally in IT stocks, coupled with easing crude oil prices and positive India-Japan strategic agreements, boosted investor confidence. Despite some blue-chip weakness, the market extended its upward trend, driven by technology shares and optimism surrounding new economic and defence pacts.
  
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• Air India Express restores Middle East flights: Check routes, destinations and schedules

  02-07-2026 13:44 via timesofindia.indiatimes.com
  
  Air India Express has fully reinstated its Middle East flight operations, bringing back services to Kuwait and Salalah. Flights to Kuwait from Kozhikode and Bengaluru are resuming with increased frequencies. The airline's Middle East network now spans 13 destinations, with approximately 780 weekly flights connecting 18 Indian cities. This restoration marks a significant step in expanding the carrier's regional connectivity.
  
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• FPIs continue to exit India: June equity outflows hit Rs 49,340 crore as debt inflows persist

  02-07-2026 13:20 via timesofindia.indiatimes.com
  
  Foreign investors continued their exit from Indian equities in June, withdrawing Rs 49,340 crore amid global risk aversion and domestic valuation concerns. Despite a brief February recovery, outflows have reached Rs 2.7 lakh crore this year, surpassing 2025's total. While equities saw selling, foreign investors remained active in the debt market, with policymakers introducing measures to boost overseas investment.
  
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• India-Japan trade: PM Modi, 'younger sister' Takaichi sign MoC including $10 billion investment, AI boost

  02-07-2026 10:30 via timesofindia.indiatimes.com
  
  India and Japan elevated their trade and strategic ties with a new Memorandum of Cooperation signed during the 16th Annual Summit in New Delhi. Prime Minister Modi welcomed his Japanese counterpart, highlighting shared priorities for a free and prosperous Indo-Pacific. The leaders discussed initiatives to boost Japanese investment in India, aiming for significant growth in capital and company presence, underscoring a strengthened partnership built on trust and shared values.
  
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• Who should file ITR & is income tax return filing mandatory for salaried taxpayers?

  02-07-2026 10:18 via timesofindia.indiatimes.com
  
  The important thing to understand is that ITR filing is a statutory requirement and an important financial record-keeping. For the financial year 2025-26, the basic exemption limit for individuals below 60 years of age is Rs 2.5 lakh under the old income tax regime and Rs 4 lakh under the new income tax regime.
  
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• India's EV boom could save Rs 1 lakh crore in oil imports by 2030: SBI

  02-07-2026 10:05 via timesofindia.indiatimes.com
  
  India stands to save a staggering Rs 1 lakh crore by 2030 if electric vehicles capture 20% of the market, a recent SBI report reveals.The surge in EV adoption, accelerated by geopolitical events, saw registrations jump significantly.However, the report emphasizes the urgent need to expand charging infrastructure and implement a long-term EV roadmap to sustain this growth and bolster the nation's economy.
  
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