Illinois back-to-school sales tax holiday 2026 runs August 7-16, cutting the state portion of sales tax by 5 percentage points on eligible school supplies and qualifying clothing and footwear under $125 per item, while local taxes still apply across the state. Illinois shoppers can pay a reduced state sales tax rate on qualifying back-to-school purchases during a 10-day tax holiday ru

India is preparing to test polymer currency after the Centre approved the Reserve Bank of India’s proposal for field trials of ₹10 and ₹20 notes. The pilot will include one billion notes of each denomination, but paper currency is not being withdrawn. Both types could circulate together if the trial succeeds. India Revives Polymer Note Plan After 15 Years The approval revives an idea pursued more than a decade ago. In 2009, the RBI b

Finance Minister Nirmala Sitharaman urged Income Tax officials to stop making citizens chase departments for services they are legally entitled to receive. Sitharaman Tells Tax Officers to Serve Citizens Without Delay Finance Minister Nirmala Sitharaman has asked Income Tax Department officials to ensure that taxpayers and ordinary citizens are not forced to move repeatedly between government offices for routine services and benefits that

The Illinois tax holiday 2026 runs from Aug. 7 through Aug. 16, reducing the state sales tax portion by five percentage points on qualifying clothing, footwear and school supplies. Apparel and shoes must cost under $125 per item, while eligible student supplies have no price cap. Illinois tax holiday begins August 7

Trump Media plans to launch the Trump Truth API, giving Wall Street traders faster access to Truth Social posts. The paid service has raised ethics concerns over market-moving presidential announcements. Trump Truth API Raises Questions Over Faster Access to Presidential Posts Trump Media & Technology Group is preparing to launch a paid data service that will deliver selected Truth Social posts to financial inst

The United States will impose a 25% tariff on Brazilian imports following a year-long USTR Section 301 investigation. The action covers most Brazilian goods but includes tariff exemptions for selected products that could affect domestic supplies or cause wider economic disruption. Brazil Trade Tariff Covers Most Imported Goods The United States has announce

China’s fiscal system is under growing pressure as land sales weaken, property activity remains subdued and government spending continues to exceed revenue. Official figures suggest a deeper shift in how Beijing and local authorities fund services and infrastructure. Land slump cuts a major funding source For years, local governments relied heavily on selling land-use rights to developers. That model worked w

Columbus gas prices dropped sharply last week, giving central Ohio drivers some relief after one of the most expensive Fourth of July holiday weekends on record. According to GasBuddy’s survey of 500 stations in and around Columbus, Ohio, the average price of gasoline fell 19.1 cents per gallon last week to $3.61 per gallon. The reported Sunday average was 51 cents lower than one month earlier, but still 73 cents higher than the same time one year ago. Columbus

India and Japan are steadily moving their partnership beyond routine trade discussions into a broader realignment shaped by global risk and industrial restructuring. What looks like increased investment flows is actually part of a deeper repositioning of how both countries want to secure long-term economic stability in an uncertain global environment. Investment growth driven by risk recalibration Japanese companies are expanding their footprint in India not only for growth but also to reduce exposure to concentrated supply networks in East Asia. Rising geopolitical friction and periodic trade restrictions have forced firms to reconsider how dependent they are on single-country manufacturing systems. India is increasingly viewed as a viable diversification hub due to its scale, labor availability, and expanding industrial base. Supply chain restructuring becomes the core driver The most significant shift is happening in supply chains rather than headline investment figures. Japanese manufacturers are gradually redesigning sourcing and production models to reduce vulnerabilities in electronics, automotive components, and precision engineering. India fits into this transition as an alternative production and assembly base, especially for sectors where demand is growing but diversification is still limited. Technology and industrial cooperation deepen Cooperation is also expanding into advanced sectors such as semiconductors, digital systems, and artificial intelligence. These areas are no longer treated as purely commercial exchanges but as strategic capabilities. Both countries are aligning on technology resilience, where production continuity and security of supply matter as much as cost efficiency. Rare earths and critical materials gain importance Another emerging focus is critical minerals and rare earth supply chains. These materials are essential for electronics, renewable energy systems, and defence manufacturing. Dependence on concentrated suppliers has pushed both India and Japan to explore alternative sourcing strategies and joint development frameworks to reduce long-term risk. Financial flows signal long-term positioning Japanese capital inflows into Indian financial institutions and industrial projects suggest more than short-term investment interest. Financial participation typically indicates long-term confidence in policy stability and market expansion. However, the real test will be whether this capital flow expands into deeper manufacturing integration rather than remaining portfolio-based exposure. Economic security becomes the defining theme At the core of this evolving relationship is economic security. Trade decisions are increasingly shaped by geopolitical uncertainty rather than pure cost advantage. This marks a shift from efficiency-driven globalization to resilience-driven partnerships, where countries prioritize stability over optimization. A cautious but strategic realignment The India–Japan partnership is gradually becoming a case study in how middle and advanced economies adjust to global fragmentation. While the direction is clear—greater cooperation in technology, investment, and supply chains—the pace will depend on regulatory alignment, infrastructure readiness, and how effectively both sides manage external geopolitical pressures.

Financial Disclosure Reveals Major Crypto Earnings US financial disclosure documents released by the Office of Government Ethics show that President Donald Trump earned more than $1 billion from cryptocurrency-related ventures over the past year. The filings outline a significant increase in income during the first year of his return to the White House, highlighting t

The proposed free trade agreement between the European Union and India has moved into its last procedural stage after years of negotiation. Both sides have already agreed on the core framework, and the current focus is on legal refinement and institutional clearance before formal approval. Officials describe this phase as technical but decisive, as even small wording changes can affect implementation across sectors. The agreement is being revi

India’s Russian crude imports in June could reach a monthly record as more tankers travel toward major refining ports, according to energy economist Anas Alhajji. Alhajji, chief economist at NGP Energy Capital Management, cited the unusually large number of vessels carrying Russian crude to India. He also shared a Kpler map showing tankers headed to ports across the country. India Russian Crude Imports in June: What the Data Shows The outlook

A London court has ruled against diamond merchant Nirav Modi in a financial dispute involving Bank of India, ordering him to repay approximately $10.7 million linked to a defaulted corporate loan. The judgment strengthens the bank’s claim that Modi remains personally liable under a guarantee tied to funding extended to his overseas diamond trading entity. Court upholds personal guarantee obligation

Oil prices rose sharply as Brent crude touched $98.20 per barrel on Wednesday, fueled by rising tensions between the United States and Iran. Recent missile activity in the Gulf region and disrupted shipping routes have intensified concerns about energy supply. Although strategic oil reserves remain untapped for now, the market is reacting to potential risks in the Strait of Hormuz. August contracts have jumped over 2% since early June and more than 5% in just the past week.

The San Francisco budget plan proposed by Mayor Daniel Lurie seeks to protect core city services while addressing a $642 million deficit over the next two fiscal years. Lurie announced the proposal in San Francisco on Monday, June 1, 2026, presenting it as a spending plan built around fiscal discipline, service protection and preparation for possible federal funding cuts. San Francisco Budget Plan Focuses on Services and Deficit Control The pro

Credit Card Swipe Fees Raise Costs for U.S. Shoppers and Stores Credit card swipe fees are adding pressure on U.S. shoppers and small businesses as more purchases move away from cash. Retailers say the fees charged on card transactions are becoming a larger cost of doing business, with some of that burden reflected in everyday prices. At a Tiger Fuel gas station and convenience store near the Blue Ridge Mountains in Ruckersville, Virginia, managers say t

The Delhi High Court has rejected Pernod Ricard’s appeal to resume sales of its popular brands, Absolut Vodka and Chivas Regal, keeping the ban in place for the third consecutive year. The ruling comes amid ongoing corporate investigations and a $314 million tax dispute, intensifying pressure on the French liquor giant. Delhi is a critical market for Pernod Ricard, representing nearly 5% of its nationwide sales. B

Recent developments in Iran have sent shockwaves through global financial markets. Investors are recalibrating portfolios as oil prices climb, geopolitical uncertainty rises, and economic pressures mount. While energy producers, defense companies, and AI-driven technology firms see gains, sectors like airlines and energy-importing economies face increasing strain. The US dollar and other safe-haven assets are also attracting attention amid market volatility.

US Pushes Tariffs Into Mexico Trade Talks The United States expects tariffs to be part of trade negotiations with Mexico this week as Washington prepares for talks tied to the future of the U.S.-Mexico-Canada Agreement. U.S. Trade Representative Jamieson Greer said President Donald Trump remains concerned about the trade deficit with Mexico and indicated that tariffs are likely to remain a tool in the administration’s broader trade strategy, even with close regional partners. Rules Of Origin Face Fresh Scrutiny Greer said officials are expected to discuss changes to USMCA rules of origin, including requirements that could increase the share of American-made content in goods produced across North America. The issue is especially important for manufacturing and supply chains, as the United States seeks to reduce dependence on Asia and bring more production closer to home. Greer said Mexico has benefited from American efforts to diversify away from China, but Washington wants a more balanced distribution of production. Mexico Talks Seen As Productive The United States views Mexico as a major part of its regional supply chain strategy because it competes with Asian economies for access to the US market. Greer said the administration wants supply chains sourced from the Western Hemisphere wherever possible, pointing to pandemic-era disruptions that limited access to goods from Asia. The goal, he said, is to strengthen North American manufacturing while reducing the deficit with Mexico. Canada Negotiations Look More Difficult Trade talks with Canada appear more complicated. Greer said the United States has significant trade challenges with Canada and noted that Ottawa’s response to tariffs has differed from that of many other partners. Canada has argued that USMCA remains a strong agreement and does not require major renegotiation. The disagreement sets up a difficult review process as Washington seeks tariff-related changes while Canada pushes to preserve the existing framework.

The UK GCC trade deal could add an estimated £3.7 billion a year to Britain’s economy in the long run, while cutting tariffs for exporters selling into Gulf markets. The U.K. Department for Business and Trade announced the agreement on Wednesday, May 20, 2026, calling it a major step in economic ties with the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The gove