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US and China take a step back from sky-high tariffs and agree to pause for 90 days for more talks

US and China take a step back from sky-high tariffs and agree to pause for 90 days for more talks

GENEVA May 12, 2025 (AP) — U.S. and Chinese officials said on Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks on resolving their trade disputes. Stock markets rose sharply as the globe’s two major economic powers took a step back from a clash that has unsettled the global economy. U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate

Sharp rally in markets makes investors richer by Rs 16.15 lakh cr

Sharp rally in markets makes investors richer by Rs 16.15 lakh cr

New Delhi, May 12 (PTI) Dalal Street investors became richer by Rs 16.15 lakh crore on Monday as markets skyrocketing nearly 4 per cent, after India and Pakistan announced reaching an understanding to stop all firings and military actions on land, air and sea. Also, a trade agreement between the US and China added to the markets’ optimism. After starting the trade on an optimistic note, the 30-share BSE benchmark gauge Sensex further jumped 2,975.43 points or 3.74 per cent to settle at 82,429.90. During the day, it rallied 3,041.5 points or 3.82 per cent to a high of 82,495.97.

Gold tanks Rs 3,400 to Rs 96,550/10 g as US-China trade deal curbs demand

Gold tanks Rs 3,400 to Rs 96,550/10 g as US-China trade deal curbs demand

New Delhi, May 12 (PTI) Gold prices tanked sharply by Rs 3,400 to Rs 96,550 per 10 grams in the national capital on Monday as traders shifted from safe-haven buying after the US declared a 90-day pause on tariff against Chinese imports. According to the All India Sarafa Association, the precious metal of 99.5 per cent purity plunged Rs 3,400 to Rs 96,100 per 10 grams on Monday. This marks the steepest fall in 10 months since gold prices plunged Rs 3,350 on July 23, 2024. Gold of 99.9 and 99.5 per cent purity had settled at Rs 99,950 and

Indian army says talks with Pakistan’s military operations chief delayed

Indian army says talks with Pakistan’s military operations chief delayed

JAMMU, India/ISLAMABAD, May 12 (Reuters) – India and Pakistan have delayed until Monday evening talks between their military operations chiefs to discuss the next steps after a ceasefire, the Indian army said, as New Delhi reopened airports and shares rose in the nuclear-armed rivals. There were no reports of explosions or projectiles overnight, with the Indian army saying Sunday was the first peaceful night in recent days along their border, although some schools remain closed. Saturday’s ceasefire, announced by U.S. President Donald Trump, followed four days of intense firing between the two sides and diplomacy and pressure from Washington. Hindu-majority

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