Sunday, September 13
U.S. President Donald Trump extended a tariff truce with China by another 90 days on Monday, a White House official said, staving off triple-digit duties on Chinese goods as U.S. retailers prepared for the critical end-of-year holiday season. Trump signed an executive order delaying the start of higher tariffs until mid-November shortly after giving reporters a noncommittal answer when asked at a news conference if he planned to keep the lower tariff rates in place. On Sunday, Trump demanded China quadruple its purchases of U.S. soybeans, but it remained unclear whether Beijing had agreed. The tariff truce between Beijing and Washington had been due to expire on Tuesday at 00:01 ET (04:01 GMT). The timing of the extension until early November buys crucial time for the seasonal autumn surge
State Bank of India (SBI) has stopped processing trade and foreign currency transactions of Nayara Energy over potential sanctions after US tariff increases late last month. The bank took the call to ensure it doesn't invite US and European Union curbs, a person familiar with the issue said."This call has been taken by the bank very recently after the US sanctions to ensure compliance with international rules," said the person cited above. "There has been no government direction, but every bank has to take a call on how to deal with these issues and SBI has done so."In August 2017, a consortium lead by Russian oil major Rosneft acquired Essar Oil's 20 mtpa Vadinar refinery and renamed it as Nayara Energy. The company imports crude oil from overseas and currently has a market share of about
Adani Defence Systems and Technologies Limited (ADSTL), through its venture Horizon Aero Solutions Limited, in partnership with Prime Aero Services LLP, singed an agreement to acquire a 100% stake in Indamer Technics Private Limited (ITPL), a private-sector MRO provider, ADSTL said in a release. Horizon is a 50-50 partnership between ADSTL and Prime Aero, a company owned by Prajay Patel, who is also the director of Indamer Technics.The greenfield facility is located in Maharashtra's Nagpur in the MIHAN special economic zone (SEZ). It is spread across 30-acres.“The Indian aviation industry has witnessed an unprecedented transformation, becoming the 3rd largest in terms of passenger traffic. With the Indian carriers set to induct more than 1500 aircraft in the coming years, we are on the c
