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Indian rupee could fall to 98/USD by July amid energy crisis, BofA Securities exec says

MUMBAI, June 3 (Reuters) – The Indian rupee could weaken to a record low of 98 against the U.S. dollar by July as the energy shock triggered by the ​Middle East crisis continues to pile pressure on domestic assets, especially the currency, ‌a BofA Securities executive told Reuters. The rupee, Asia’s worst performing currency this year, has been battered by the war-led energy shock that threatens to slow growth and push up inflation in India, ​which imports almost 90% of its crude requirements and half of its gas ​needs. Authorities have implemented several measures to protect the currency and preserve

US says it plans extra tariffs of 10% or more for most trading partners after forced labor probe

WASHINGTON, June 3, 2026 (AP) — The Trump administration is proposing that tariffs of 10% or more be imposed on products from dozens of major trading partners following a probe into imports of goods allegedly made with forced labor. The report released early Wednesday by the U.S. Trade Representative said Canada, Mexico, Taiwan and the United Kingdom and some other countries and territories would face 10% additional tariffs for allegedly failing to enforce a forced labor import ban. A 12.5% additional tariff would be imposed on China, Japan, India, South Korea, Brazil and Switzerland and dozens of other countries. “The

‘Khan Sir’ coaching institute in Patna vandalised, pelted with stones

Patna, Jun 3 (PTI) A coaching institute of educator Faisal Khan, popularly known as ‘Khan Sir’, was allegedly vandalised and pelted with stones in Patna, police said on Wednesday. He also claimed that firing took place at the institution, but police could not confirm it. The incident took place at Khan Global Coaching Institute in Kadamkuan police station area on Tuesday night, they said. “We received information around 10.10 pm on Tuesday about stone-pelting and damage to property at Khan Global Coaching Institute under the jurisdiction of Kadamkuan Police Station. A police team was immediately sent to the spot and

Stock markets tumble in early trade; Sensex tanks 700 points

Mumbai, Jun 3 (PTI) Equity benchmark indices Sensex and Nifty tumbled in early trade on Wednesday amid uncertainty related to US–Iran negotiations, fresh spike in crude oil prices and persistent foreign fund outflows. The 30-share BSE Sensex tanked 699.74 points to 73,959.48 in early trade. The 50-share NSE Nifty dropped 177.40 points to 23,302.50. From the 30-Sensex firms, Tata Consultancy Services, Tech Mahindra, Infosys, HCL Tech, ITC and Eternal were among the biggest laggards. IT stocks fell sharply amid profit-taking after rallying in the past few days. Meanwhile, Maruti, Adani Ports, Asian Paints and Bharti Airtel were the gainers from

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