Trump's generic drug tariff plan introduces a phased import duty that could reach 200% within three years, encouraging pharmaceutical companies to manufacture in the United States. The proposal could significantly affect India's pharmaceutical industry, which supplies nearly 40% of generic medicines used in the US. Trump Generic Drug Tariffs Target India Pharma Export

Mark Carney responds to US 50% tariffs by reaffirming Canada's commitment to free and fair trade while expressing readiness for negotiations with Washington. The Canadian prime minister says Ottawa will continue supporting workers, businesses and families as trade tensions escalate over dairy, automobiles and alcoholic beverages. Mark Carney Responds to US 50% Tariff

US imposes 50% tariff on Canadian goods as the Trump administration escalates trade tensions with its northern neighbour. The new duties target products including hockey sticks, wine and cement, while Washington cites unfair trade practices and retaliatory Canadian policies as the reason for the move. US Imposes 50% Tariff on Canadian Goods Amid Trade Dispute &n

Iran sanctions block long-term economic growth, according to a senior Iranian official who says the country cannot achieve sustainable development without reconnecting to the global financial system. While temporary measures have kept trade moving, officials argue that lasting economic progress requires renewed access to international banking, investment and financial markets.

Pakistan poverty rate rises to 28.9% as years of economic instability, inflation and weak growth continue to strain households. The latest national survey shows rural communities suffering the most, while declining incomes and rising living costs have pushed millions more people below the poverty line across the country. Pakistan Poverty Rate Rises to 28.9% Amid Econ

Bangladesh freezes Sheikh Hasina assets worth $6.19 billion as authorities expand investigations into alleged corruption, money laundering and tax evasion. The Bangladesh Financial Intelligence Unit says asset recovery efforts are underway with support from multiple government agencies. Bangladesh Freezes Sheikh Hasina Assets Worth $6.19 Billion Bangladesh has frozen assets worth Tk 760 billion (about $6.19 billion) linked to former Prime Minister Sheikh Hasina, her family members and ten of the country's largest business groups. The move marks one of the biggest financial enforcement actions since the political transition that followed the 2024 student-led uprising. Sheikh Hasina Investigation Expands Speaking during the release of the Bangladesh Financial Intelligence Unit (BFIU) annual report in Dhaka, BFIU chief Ikhtiar Uddin Mohammad Mamun said court orders enabled authorities to freeze Tk 570 billion in assets within Bangladesh and another Tk 190 billion overseas. He did not disclose how much of the frozen assets belonged to individual family members or each business group. The investigation began after Sheikh Hasina left office on August 5, 2024, following widespread protests. She later traveled to India, where she has remained since. The interim administration led by Professor Muhammad Yunus directed authorities to examine allegations including corruption, bribery, fraud, forgery, money laundering, foreign currency smuggling and tax evasion involving Hasina's family and several leading corporate groups. Bangladesh Financial Intelligence Unit Leads Probe According to the BFIU, authorities are concentrating on tracing and recovering assets that investigators believe were transferred outside Bangladesh. Mamun said officials are working with international partners and expressed hope that progress on recovering overseas assets could be announced before the end of the year. The financial investigation is being coordinated by the BFIU with support from the Criminal Investigation Department (CID), the National Board of Revenue (NBR) and the Anti-Corruption Commission (ACC). The agencies are examining financial records, banking transactions and ownership structures connected to individuals and companies under investigation. Business Groups Investigation Covers Major Companies Authorities confirmed that the investigation includes S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Premier Group, Nassa Group, Bashundhara Group, Sikder Group and Aramit Group. Officials have not announced individual findings against any of these companies, stating that investigations remain ongoing. The large-scale asset freeze highlights Bangladesh's efforts to strengthen financial oversight while addressing allegations of illicit financial activity. Officials say legal procedures and court approvals continue to guide the investigation. Asset Recovery Efforts Continue Responding to questions about whether the investigations were politically motivated, Mamun said political affiliation plays no role in financial intelligence work. He stated that authorities focus on suspicious financial transactions regardless of an individual's position or identity. Mamun also said banks are required to freeze accounts whenever suspicious activity is identified. He added that if evidence emerges involving members of the current interim government, those cases would also be investigated under the same legal framework. The BFIU said the investigation remains active, with asset recovery now a priority. Authorities have indicated that additional developments could be announced as financial reviews, legal proceedings and international cooperation continue. Source: Statements by the Bangladesh Financial Intelligence Unit (BFIU) during the release of its annual report in Dhaka. Suggested internal links: Global News, Business & Economy, Government Policy, Bangladesh news archive, Money & Finance category.

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 positioned as key global technology partner A senior United States official has described India as an indispensable partner in the global technology landscape, highlighting its unique ability to match China’s scale of engineering talent. The remarks were made at the IX US-India Strategic Partnership Forum Leadership Summit 2026 and reflect Washington’s growing reliance on New Delhi in critical emerging technologies.

The Modi Seychelles visit is expected to deepen maritime security, infrastructure, trade and tourism ties as Seychelles marks 50 years of independence and the two countries commemorate five decades of diplomatic relations. Seychelles Foreign Minister Barry Faure said the trip could lift the partnership to a “qualitatively higher level” as both sides advance plans discussed during President Patrick Herminie’s February visit to India. Modi Seychelles visit put

Cuba proposes major shift in economic policy Cuban Prime Minister Manuel Marrero has presented lawmakers with a sweeping economic reform package aimed at reshaping parts of the island’s tightly controlled economy. The proposals, backed by the Communist Party and former leader Raúl Castro, come as Cuba faces rising pressure from US sanctions, a fuel blockade and worsening shortages of basic goods. The package still requires approval from th

Japan’s plastic bag shortage is showing how a disruption in crude oil supply can affect everyday items, from supermarket bags to food trays and gloves. Reports published in early June 2026 say supermarkets, bakeries, takeaways and food businesses in Japan are facing shortages of plastic bags, trays, food-service gloves and packaging materials. The issue is not only about plastic. It begins with naphtha, a crude-oil-derived raw material used to make plastics, synthetic products, ad

Carney Calls For New Partnership Canadian Prime Minister Mark Carney called for a new partnership with the United States during a speech in New York on Thursday, saying closer cooperation could help strengthen both countries. Carney said the global economy is going through a major rupture as the United States changes its commercial relationships, but argued that Canada and the US could still work together in key sectors such as aluminum, automobiles and critical minerals. His remarks came as trade tensions between the two neighbors continue to shape diplomatic and economic discussions. Trade Tensions Shape Message Carney has pledged to double Canadian exports to markets outside the United States over the next decade, while also signing more than 20 economic and security agreements in the past year. At the same time, US trade officials were in Mexico City for discussions on overhauling the US-Mexico-Canada Agreement, though Canada was not part of the current round of talks. The exclusion adds pressure to Ottawa as it tries to protect its position in North American trade while reducing dependence on the US market. Canada Looks To Diversify The prime minister has previously described Canada’s close ties with the United States as vulnerabilities that must be corrected, especially after President Donald Trump threatened to annex Canada as the 51st state. Carney also criticized what he called American hegemony earlier this year, warning that deeper integration with major powers can create weaknesses that may be exploited. His government has moved to diversify partnerships, including a recent decision to buy military planes from Sweden instead of relying only on American manufacturers. In New York, however, Carney adopted a more conciliatory tone. He described the United States as dynamic, resilient and inventive, and said its founding values of liberty, democracy, justice and openness should continue to guide its future and the world. The message reflected a careful balancing act: Canada wants to reduce economic risk and expand global exports, but it also recognizes that cooperation with Washington on trade, security, autos, aluminum and critical minerals remains central to its long-term strategy.

The petrol, diesel, and CNG price hike in India took effect on Friday, May 15, 2026. This was the first retail fuel price increase in four years, following the surge in global crude oil prices due to the Iran war.   Fuel Price Hike Overview in Major Cities The government raised petrol, diesel, and CNG prices following a surge in global crude oil prices triggered by the Iran war. This is the first retail fuel price hike in four years. The increase is expected to affect transportation costs, household spending, and overall inflation. City Petrol Price (Rs/Litre) Petrol Hike (Rs) Diesel Price (Rs/Litre) Diesel Hike (Rs) CNG Price (Rs/Kg) CNG Hike (Rs) Delhi 97.77 3.00 90.67 3.00 79.09 2.00 Kolkata 108.74 3.29 95.13 3.11 — — Mumbai 106.68 3.14 93.14 3.11 84.00 2.00 Chennai 103.67 2.83 95.25 2.86 — — Hyderabad 104.50 3.10 94.20 3.05 80.50 2.00 Economic Implications and Expert Insights India’s state-run oil companies, IOCL, BPCL, and HPCL, were absorbing high crude costs for months, incurring daily losses of around Rs 1,600 crore. Imported crude prices jumped from $69 per barrel in February to $113-114 per barrel after the Iran war began on February 28. Economists, including Finance Commission Chair Dr Arvind Panagariya, recommended that retail prices be adjusted to prevent further losses and sustain OMC operations. Prime Minister Modi has appealed to citizens to conserve fuel and encouraged work-from-home practices to reduce foreign outflows. The Delhi government initiated a 90-day campaign promoting fuel-saving habits and limited office days. The fuel price increase is expected to push up transportation and logistics costs, which may drive inflation in essential commodities like milk and vegetables. Household savings could shrink, and discretionary spending may reduce, potentially slowing consumption, production, and GDP growth. While consumers will feel the immediate impact, this step was unavoidable given the international crude price surge.

EU-India FTA May Begin Within A Year The EU-India FTA could come into force within a year, potentially by early 2027, after both sides concluded negotiations on January 27, 2026. European Union Ambassador to India Hervé Delphin said the landmark free trade agreement is now moving through legal and procedural steps before ratification. The process includes legal vetting of the final text, followed by approvals in India and the European Union.

Operation Sindoor Anniversary Puts India’s Defence Exports in Focus Operation Sindoor anniversary has placed India’s defence export boom back in the spotlight, with official data showing exports touched a record Rs 38,424 crore in FY 2025–26. The May 7–10, 2025 conflict, described by officials as a focused military response, has now become more than a battlefield milestone. It is being viewed as a turning point for India’s defence industry.

More than two months into military action against Iran, Donald Trump is facing a difficult reality: the conflict is far from over—and there’s no clear way out. What began as a show of strength has turned into a prolonged standoff, with rising global consequences. Military Gains, But No Strategic Victory The United States, alongside Israeli forces, has carried out multiple strikes targeting Iran’s

Ukraine has intensified its long-range strikes on energy infrastructure located deep inside Russia, targeting oil refineries, storage depots, and supply routes. These attacks mark a significant escalation in the ongoing

NEW DELHI, India, March 26, 2026 — Narendra Modi on Thursday warned that ongoing global conflicts could trigger a prolonged energy crisis, posing significant risks to economies worldwide, including India. Addressing Parliament, Modi struck a balanced yet firm tone, cautioning that continued geopolitical tensions may disrupt global energy markets and supply chains. He sai

WASHINGTON — March 26, 2026: President Donald Trump on Thursday cast renewed doubt on the likelihood of reaching a peace agreement with Iran, indicating that any meaningful progress would depend on Tehran’s willingness to shift its current stance amid ongoing tensions between the two countries. Speaking during a Cabinet meeting at the White House, Trump emphasized that Iran must take the first step if a deal is to materialize. He expressed uncertainty over wheth

Telangana made a significant splash at the 2026 World Economic Forum (WEF) in Davos, Switzerland, showcasing its ambition to become a global hub for innovation, technology, and sustainable development. Led by Chief Minister A. Revanth Reddy, the Telangana delegation secured several key partnerships and investments aimed at propelling the state’s economy to new heights. One of the most notable agreements was with Blaize, a US-based company specializing in energy-efficient AI hardware and sof