US Federal Reserve policy meet: Kevin Warsh-led FOMC keeps interest rates unchanged; projects hike by year-end, raises inflation forecast

Kevin Warsh (AP file photo) US Federal Reserve chairman Kevin Warsh-led FOMC on Wednesday kept the key interest rate unchanged in the 3.5% to 3.75% range. This is Kevin Warsh’s first policy review after taking over from Jerome Powell as US Federal Reserve chair.“The Committee decided to maintain the target range for the federal funds…

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Critical Minerals: ‘Harmonised, interoperable mechanisms’: G7 takes on China’s critical minerals dominance, sets 2030 target to cut dependence

G7 leaders on Wednesday agreed to strengthen cooperation to reduce their dependence on China for critical minerals, unveiling plans to coordinate stockpiling, boost recycling and create a new platform with an expanded role for the International Energy Agency (IEA).The move comes as Western nations seek to secure supplies of minerals crucial for defence, artificial intelligence,…

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India’s power generation capacity crosses 530 GW, set to touch 600 GW next year

The country’s installed power generation capacity has crossed 530 GW and is expected to reach nearly 600 GW next year, driven by rapid additions in renewable energy, thermal power and battery storage, a senior Power Ministry official said on Wednesday.Aadhar Raj, Joint Secretary in the Ministry of Power, said the country’s electricity sector continues to…

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‘The countdown begins’: India-UK FTA to take effect from July 15, UK envoy calls it a ‘historic moment’

India and the UK on Wednesday announced that their landmark free trade agreement (FTA) will come into force on July 15, paving the way for tariff reductions, greater market access and enhanced economic cooperation between the two countries.The announcement marks the final step before implementation of the trade pact, which was signed last year and…

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‘We are very close to deal’: Trump signals progress on India-US trade agreement

US President Donald Trump on Wednesday signalled progress in ongoing trade negotiations with India, saying the two sides were close to finalising an agreement.“We are very close to the deal,” Trump told reporters when asked about the proposed India-US trade pact on the sidelines of the G7 Summit.The remarks come amid intensified negotiations between New…

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US stock market today: Wall Street holds steady ahead of Fed rate decision, oil stays below $80 on Iran deal hopes

US stocks traded in a narrow range on Wednesday as investors awaited the Federal Reserve’s policy decision, while easing oil prices and optimism over a potential US-Iran peace agreement helped support sentiment.The S&P 500 edged up 0.1% in early trade, while the Dow Jones Industrial Average was largely unchanged. The Nasdaq Composite rose 0.5%, aided…

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Exports hit record $863 billion in FY26 despite US tariffs & Middle East crisis: Official

Exports hit record $863 billion in FY26 despite US tariffs & Middle East crisis India’s exports touched an all-time high of $863 billion in 2025-26 despite disruptions from the West Asia conflict and US tariff measures, underscoring the resilience of the country’s export ecosystem, a senior Commerce Ministry official said on Wednesday.“This has been a…

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