US President Donald Trump took his boldest step to level the economic playing field with China, ordering sweeping tariffs on Chinese imports in a move that could escalate fears of a trade war between the world’s two biggest economies.

The president instructed US Trade Representative Robert Lighthizer to levy tariffs on at least $50 billion in Chinese imports.

India’s telecom subscriber base dipped to 117.5 crore at the end of January with smaller operators losing bulk of their customers, as per monthly Trai report released today. “The number of telephone subscribers in India declined from 1,190.67 million at the end of December 2017 to 1,175.01 million at the end of January 2018, thereby showing a monthly decline rate of 1.32 per cent,” the Telecom Regulatory Authority of India said.

New Delhi: The Central Bureau of Investigation (CBI) registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by state-run Union Bank of India.

“The CBI registered a case today (Thursday) on a complaint by Union Bank of India against Totem Infrastructure and its promoters and directors Tottempudi Salalith and his wife Tottempudi Kavita of Hyderabad,” a person familiar with the developments said.

Mumbai: Axis Bank has refused to comment on reports of resignation by two senior executives — deputy MD V Srinivasan and head of corporate and transaction banking Sidharth Rath — on grounds that they are speculative. The bank also did not comment on reports that it has hired S M Sundaresan, head of corporate banking at Standard Chartered, as head of corporate banking.

India’s second-largest IT services company Infosys on Thursday said it has made a follow-on investment of $1.5 million in Waterline Data Science. The company will make the investment through its corporate venture fund — Infosys Innovation Fund. The Fund, with a corporate fund of $500 million, was set up in 2015 during former CEO Vishal Sikka’s initiative to invest in technology companies.

Vodafone and Aditya Birla Group’s Idea Cellular, which are in the final stages of completing the merger of their operations in the country, on Thursday announced the new leadership team of the merged entity. As indicated earlier, Kumar Mangalam Birla, the chairman of the AV Birla Group, will be the non-executive chairman of the merged entity.

Saudi Arabia opened its airspace for the first time to a commercial flight to Israel with the inauguration on Thursday of an Air India route between New Delhi and Tel Aviv.

Air India 139 landed at Tel Aviv's Ben Gurion Airport after a flight of over 7-1/2 hours, marking a diplomatic shift for Riyadh that Israel says was fuelled by shared concern over Iranian influence in the region.

Benchmark indices on Friday witnessed a massive decline over global trade war fears.

The escalating tensions between Beijing and Washington sent shivers through financial markets, as investors foresaw dire consequences for the global economy if trade barriers start going up.

A day after its bid failed the legal eligibility test, ArcelorMittal, confirmed that it would participate in the rebid for Essar Steel.

“We have not yet received any formal notification from resolution professional. But we can confirm it is our intention to participate in a rebid," read a statement from ArcelorMittal. Sources close to Numetal said it had not heard officially from the resolution professional.

Mahindra and Mahindra and the India subsidiary of Ford Motor have signed five non-binding agreements, furthering the accord signed between them last September, Mahindra said.

The two automobile makers would be collaborating on multiple areas including connected vehicle projects, electric battery vehicles, development of compact sports utility vehicles (SUVs), B-segment SUVs and power trains.

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