Trump warns Apple of 25% tariff on iPhones made in India or anyplace else; stock drops 2%

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While the majority of Apple’s flagship phone production currently takes place in China, the company has begun to shift manufacturing operations to India.   President Donald Trump on Friday announced that Apple will be subject to a tariff of 25% or more for iPhones manufactured outside of the United States. In a statement on social…

RBI’s board approves record ₹2.69 trillion surplus transfer to govt

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With respect to the Surplus Distribution Policy, any available equity in excess of 7.5 per cent of the balance sheet size (after considering shortfall in market risk buffers, if any) may be written back from the Contingency Fund to income   The Reserve Bank of India’s (RBI’s) central board, which met today, has approved a…