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‘When India and Pakistan went to war, we got involved directly,’ claims US Secretary of State Rubio

New York, Aug 8 (PTI) The US “got involved directly” when India and Pakistan “went to war”, and President Donald Trump was able to deliver peace between the two nuclear-armed neighbours, Secretary of State Marco Rubio has claimed. Since May 10, Trump has repeated his claim many times that he “helped settle” the tensions between India and Pakistan and told the nuclear-armed South Asian neighbours that America will do a “lot of trade” with them if they stopped the conflict. India has been consistently maintaining that the understanding on cessation of hostilities with Pakistan was reached following direct talks between

Rupee falls 5 paise to 87.63 against US dollar in early trade

Mumbai, Aug 8 (PTI) The rupee traded in a tight range and fell 5 paise to 87.63 against the US dollar with depreciation pressures still lingering amid persistent trade uncertainty and a firm US dollar backdrop. Forex traders said the rupee is trading in a narrow range as the Reserve Bank of India is protecting it at around the 87.95 level, while sustained foreign fund outflows are dragging the local unit lower. At the interbank foreign exchange market rupee opened at 87.56, then touched an intra-day low of 87.63 against the US dollar in initial trade, lower by 5 paise

Stock markets trade lower in early trade amid persistent foreign fund outflows, tariff jitters

Mumbai, Aug 8 (PTI) Equity benchmark indices Sensex and Nifty declined in early trade on Friday amid non-stop foreign fund outflows and tariff-related jitters. The 30-share BSE Sensex declined 242.24 points to 80,381.02 in early trade. The 50-share NSE Nifty dropped 54.85 points to 24,541.30. From the Sensex firms, Bharti Airtel, Infosys, Bharat Electronics, Eternal, Axis Bank and HDFC Bank were among the laggards. However, Titan, Bajaj Finance, NTPC and Bajaj Finserv were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,997.19 crore on Thursday, according to exchange data. Domestic Institutional Investors (DII), however, bought stocks worth

Trump tariffs hit India’s garment makers as US buyers say move production

MUMBAI/CHENNAI, Aug 8 (Reuters) – Ever since Donald Trump’s tariff salvo on India this week, garment maker Pearl Global – whose U.S. client list includes Gap and Kohl’s – has been receiving midnight panic calls with an ultimatum: share the tariff hit or move production out of India. To calm U.S. customers’ nerves, Pearl Global has offered to shift production to its 17 factories in Bangladesh, Indonesia, Vietnam and Guatemala to bypass the steep U.S. levies on Indian imports. “All the customers are already calling me. They want us to … shift from India to the other countries,” Managing Director

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