Blackstone CEO says preparing portfolio companies for IPOs
(Reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)
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Khaleej Times
7 minutes ago
- Khaleej Times
State of play in Trump's tariffs, threats and delays
Dozens of economies including India, Canada and Mexico face threats of higher tariffs Friday if they fail to strike deals with Washington. Here is a summary of duties President Donald Trump has introduced in his second term as he pressures allies and competitors alike to reshape US trade relationships. Global tariffs US "reciprocal" tariffs -- imposed under legally contentious emergency powers -- are due to jump from 10 percent to various steeper levels for a list of dozens of economies come August 1, including South Korea, India and Taiwan. The hikes were to take effect July 9 but Trump postponed them days before imposition, marking a second delay since their shock unveiling in April. A 10 per cent "baseline" levy on most partners, which Trump imposed in April, remains in place. He has also issued letters dictating tariff rates above 10 percent for individual countries, including Brazil, which has a trade deficit with the United States and was not on the initial list of higher "reciprocal" rates. Several economies -- the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines -- have struck initial tariff deals with Washington, while China managed to temporarily lower tit-for-tat duties. Certain products like pharmaceuticals, semiconductors and lumber are excluded from Trump's "reciprocal" tariffs, but may face separate action under different authorities. This has been the case for steel, aluminum, and soon copper. Gold and silver, alongside energy commodities, are also exempted. Excluded too are Mexico and Canada, hit with a different set of tariffs, and countries like Russia and North Korea as they already face sanctions. Canada, Mexico Canadian and Mexican products were hit by 25 percent US tariffs shortly after Trump returned to office, with a lower rate for Canadian energy. Trump targeted both neighbors over illegal immigration and fentanyl trafficking, also invoking emergency powers. But trade negotiations have been bumpy. This month, Trump said Canadian goods will face a higher 35 percent duty from August 1, and Mexican goods will see a 30 percent level. Products entering the United States under the USMCA North American free trade pact, covering large swaths of goods, are expected to remain exempt -- with Canadian energy resources and potash, used as fertilizer, to still face lower rates. China focus Trump has also taken special aim at China. The world's two biggest economies engaged in an escalating tariffs war this year before their temporary pullback. The countries imposed triple-digit duties on each other at one point, a level described as a trade embargo. After high level talks, Washington lowered its levies on Chinese goods to 30 percent and Beijing slashed its own to 10 percent. This pause is set to expire August 12, and officials will meet for further talks on Monday and Tuesday in the Swedish capital Stockholm. The US level is higher as it includes a 20 percent tariff over China's alleged role in the global fentanyl trade. Beyond expansive tariffs on Chinese products, Trump ordered the closure of a duty-free exemption for low-value parcels from the country. This adds to the cost of importing items like clothing and small electronics. Autos, metals Trump has targeted individual business sectors too, under more conventional national security grounds, imposing a 25 percent levy on steel and aluminum imports which he later doubled to 50 percent. The president has unveiled plans for a 50 percent tariff on copper imports starting August 1 as well and rolled out a 25 percent tariff on imported autos, although those entering under the USMCA can qualify for a lower rate. Trump's auto tariffs impact vehicle parts too, but new rules ensure automakers paying vehicle tariffs will not also be charged for certain other duties. He has ongoing investigations into imports of lumber, semiconductors, pharmaceuticals and critical minerals that could trigger further duties. Legal challenges Several legal challenges have been filed against the tariffs Trump invoked citing emergencies. The US Court of International Trade ruled in May that the president had overstepped his authority, but a federal appeals court has allowed the duties to remain while it considers the case. If these tariffs are ultimately ruled illegal, companies could possibly seek reimbursements.
Zawya
an hour ago
- Zawya
Dr. Moopen's Legacy Scholarship & Fellowships launched to aid 25 students from across India
First Private Medical College in Kerala to Offer 100% Tuition Fee Waiver for Eligible MBBS Students 100% tuition fee waiver for 25 students comprising of 5 MBBS aspirants, 10 BSc Nursing and 10 students The annual scholarship would be granted to students seeking to join Dr. Moopen's Medical College, Nursing College and College of Pharmacy in Wayanad, Kerala. 125 students are expected to benefit from the initiative over the next 5 years, with Dr. Moopen's Education and Research Foundation committing INR 3 crore per year towards this. Kochi – In a path breaking initiative to make medical education accessible to meritorious students and students from economically challenged backgrounds, Padma Shri Dr. Azad Moopen, Founder & Chairman of Aster DM Healthcare and a globally recognized philanthropist, has announced an annual scholarship programme Dr. Moopen's Legacy Scholarship & Fellowships Programme aimed at supporting meritorious students seeking admissions in Dr. Moopen's Medical College, Dr Moopen's Nursing College and Dr Moopen's College of Pharmacy in Wayanad, Kerala. This initiative marks the first time a private medical college in Kerala is offering a 100% tuition fee waiver for eligible meritorious medical students, promising to transform access to quality healthcare education for talented, deserving individuals. The scholarships will be offered to 25 eligible students applying to MBBS, BSc Nursing, and BPharm courses. Each year, 5 MBBS, 10 BSc Nursing, and 10 BPharm students will receive these scholarships. For MBBS scholarships, selection will be based solely on merit, recognizing and encouraging students with excellent academic track records and top NEET rankings. While these students often receive priority in admissions, this initiative aims to provide further recognition. Meanwhile, BSc Nursing and candidates will be chosen based on academic merit and financial need. The scholarship will cover the entire tuition fees, subject to the students meeting basic academic performance and adherence to program guidelines. Over the next five years, 125 students will benefit, with the total financial commitment expected to exceed INR 3 crore per annum. Dr. Azad Moopen, Founder & Chairman, Aster DM Healthcare and Managing Trustee of Dr. Moopen's Education and Research Foundation said, 'Education is the foundation of a stronger and more inclusive society. I have heard countless stories of talented students who were forced to abandon their dreams of becoming doctors, nurses, or pharmacists simply because they lacked financial support. I firmly believe that no capable student should have to give up such aspirations due to economic constraints especially in a field as vital as healthcare. The Dr. Moopen's Legacy Scholarship & Fellowships Programme marks a formal and larger commitment: not just to fund education, but to create opportunities that can transform the lives of individuals, their families, and an entire community. By empowering meritorious students and students from economically challenged backgrounds, we aim to nurture a new generation of healthcare professionals who will carry forward the mission of delivering compassionate, quality care to those who need it most.' This initiative builds on Dr. Moopen's vision of transforming healthcare in underserved regions. Dr. Moopen's Medical College, established in 2012, was the first medical college in Kerala to be set up in a hilly, tribal, and backward district. Its mission has been to address the shortage of quality healthcare in such regions while inspiring local communities including tribal youth to pursue careers in medicine. The Dr. Moopen's Legacy Scholarship & Fellowships Programme extends that mission, ensuring financial constraints never stand in the way of deserving talent. Having nurtured around 900 young doctors across 6 batches, Dr. Moopen's Medical College is a sustainable medical education hub in the country. The college has quickly become a center of excellence, boasting experienced faculty, a high-quality library, a museum, and a hospital operating with tertiary care facilities. Applications for the scholarship will open on 28th July 2025 and applicants can find more details and eligibility guidelines on – Dr. Azad Moopen, Founder & Chairman, Aster DM Healthcare and Managing Trustee, Dr. Moopen's Education and Research Foundation (DMERF), Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare India and Trustee, DMERF, Mr. Anoop Moopen - Director, Aster DM Healthcare and Trustee, DMERF, Mr. T.J Wilson, Executive Director & Group Head-Governance & Corporate Affairs and Dr. Shanavas Palliyal, DGM Operations, Dr. Moopen's Medical College spoke during the launch conference held at Kochi. About Aster DM Healthcare, India Aster DM Healthcare Limited is among India's leading healthcare providers, operating 19 hospitals with 5,159 beds, 10 clinics, 203 pharmacies (under Alfaone Retail Pharmacies Private Limited), and 262 laboratories and experience centers across five states. Our mission is simple: 'We'll Treat You Well.' We leverage innovative digital standards and cutting-edge technology to deliver quality healthcare across primary, secondary, tertiary, and quaternary level. Media Contact: Kavya Ramachandran | PR 360 |kavya@ Sethu Raj Kadaikal | PR 360 | sethuraj@
Zawya
an hour ago
- Zawya
India-Oman FTA almost finalised: Minister
Muscat – India's Minister of Commerce and Industry, Piyush Goyal, announced on Saturday that a Free Trade Agreement (FTA) between India and Oman is 'almost finalised'. He added that negotiations with several other key global economies – including the European Union, the United States, Peru, and Chile – are also progressing rapidly. 'We are in negotiations at an advanced stage with Oman. It is almost finalised,' Goyal said at a press conference in New Delhi, as reported by ANI. Earlier in June, Goyal had stated that India and Oman were close to concluding a Free Trade Agreement, with some 'good news' expected soon regarding its signing. The negotiations for the agreement, officially known as the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. Goyal also mentioned that India's FTAs with the European Union, the US, Peru, and Chile are making 'fast progress'. At the press conference, he highlighted a series of successful FTAs concluded by India in recent years with developed nations, including Mauritius, Australia, and the four-nation European Free Trade Association (EFTA) bloc – comprising Switzerland, Norway, Liechtenstein, and Iceland. 'The Free Trade Agreement between India and the UK, the Comprehensive Economic Trade Agreement, clearly reflects the growing relevance and importance of India on the world stage,' Goyal said. 'The goods and services that India provides to the world are of high quality and cost-competitive.' Oman is India's third-largest export destination among the GCC countries. India already has a similar agreement in place with another GCC member, the United Arab Emirates, which came into effect in May 2022. India's key imports from Oman include petroleum products and urea, which together account for over 70% of total imports. Other significant imports include polymers of propylene and ethylene, petroleum coke, gypsum, chemicals, and iron and steel. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
