JAL addresses overtourism, impact of weak yen
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Trump says he will 'substantially' raise tariffs on India over Russia oil purchases
WASHINGTON: United States President Donald Trump said on Monday (Aug 4) he will substantially raise tariffs on India over its purchases of Russian oil - a key source of revenue for Moscow's war on Ukraine. "India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits. They don't care how many people in Ukraine are being killed by the Russian war machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Trump last week said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter. Trump's heightened pressure on India comes after he signalled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, more than three years since Russia's invasion.
CNA
3 hours ago
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Trump says he will 'substantially' raise tariffs on India over Russian oil purchases
WASHINGTON: United States President Donald Trump said on Monday (Aug 4) he will substantially raise tariffs on India over its purchases of Russian oil. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Trump last week said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter.
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Bosch's India unit posts higher quarterly profit on strong auto parts sales
Bosch reported a higher first-quarter profit on Monday, helped by strong sales of spare auto parts to passenger and off-highway vehicles as well as demand for its consumer electronic goods. The Indian unit of German automotive supplier Robert Bosch reported a pre-tax adjusted profit of 8.38 billion rupees ($95.7 million) in the April-June period, up from 6.11 billion rupees a year ago. The profit figure does not include a one-time gain of 5.56 billion rupees tied to the sale of its video solutions business. Quarterly revenue climbed 11 per cent, led by the automotive business' 13.5 per cent rise. For further earnings highlights, click here. KEY CONTEXT Bosch, India's top auto parts maker by market valuation, is the first among its peers to report results in a quarter where overall auto sales by manufacturers to dealers dropped 5 per cent. Analysts at Motilal Oswal said the company likely benefited from higher after-market sales of auto parts. The automotive business, Bosch's biggest segment, contributes more than 80 per cent of overall revenue. India is a key hub for Bosch, with a focus on cost-effective making of parts ranging from fuel injectors to spark plugs. The unit gets 90 per cent of its revenue from local sales. PEER COMPARISON Estimates (next 12 Analysts' sentiment months) RIC PE EV/EBI Revenue Profit Mean # of Stock to Div TDA growth (%) growth rating* analyst price yield (%) s target** (%) Bosch Ltd 49.13 40.89 10.46 13.11 Hold 4 1.34 1.27 Samvardhana 21.02 8.86 7.89 20.35 Buy 21 0.84 0.58 Motherson International Ltd UNO Minda Ltd 46.41 25.17 18.21 26.70 Buy 16 0.92 0.22 Sona BLW Precision 35.71 19.75 23.01 17.43 Buy 16 0.81 0.71 Forgings Ltd * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE - All data from LSEG
