CURRENT NEWS
The era of dollar dominance is coming to a close
BUSINESS LINE : The Global South is losing faith in the dollar. Why? The US slaps tariffs on friends and foes. The White House tries to bully its own central bank. Debt keeps rising. Sanctions turn the greenback into a weapon. Rising competition with China and broken security pacts with the Middle East fuel mistrust.
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Trump threatens 10% tariff on BRICS nations
July 07 WHAT? U.S. President Donald Trump has threatened to impose an additional 10% tariff on countries aligning with what he describes as the "anti-American policies" of the BRICS nations. This statement, made via a post on Truth Social on July 6, 2025, comes amid the ongoing 17th BRICS Summit in Rio de Janeiro, Brazil, and signals heightened trade tensions. Key Details Tariff Threat: Trump stated, "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an...
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What is US's Remittance tax? How would it impact Indians?
June 29 WHAT? The US remittances tax refers to a proposed excise tax on international money transfers (remittances) sent by individuals who are not US citizens or nationals. This measure is part of the "One Big Beautiful Bill," a fiscal package introduced by House Republicans and endorsed by President Donald Trump, aimed at extending the 2017 Tax Cuts and Jobs Act, increasing the standard deduction, and funding border security initiatives. As of June 29, 2025, the tax rate has been adjusted from an initial 5%...
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Fighter Jet F-35 Lightning 2| The deadly fighter!
June 20
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Trump's earnings: $57 million in crypto, $217 million from Florida golf clubs
June 14 SUMMARY The article from The Economic Times, dated June 14, 2025, titled "Trump's earnings: $57 million in crypto, $217 million from Florida golf clubs," details U.S. President Donald Trump’s income as reported in a public financial disclosure released by the U.S. Office of Government Ethics on June 13, 2025. Key points Total Income: Trump earned over $600 million in 2024 from various business ventures, including cryptocurrency, golf resorts, and licensing deals. Crypto Earnings:...
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Why is Los Angeles protesting, and why did Trump activate National Guard?
June 08 SUMMARY The article from Business Standard, published on June 8, 2025, titled "Los Angeles: Anti-immigration protests, ICE raids, National Guard, Trump," details escalating tensions in Los Angeles following U.S. Immigration and Customs Enforcement (ICE) raids. Key points ICE Raids and Arrests: On June 6-7, 2025, ICE conducted raids across Los Angeles, targeting businesses like Home Depot stores, a doughnut shop, and a clothing warehouse, arresting 118 immigrants, including five linked to...
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