
Canada rescinds digital services tax in a bid to advance trade talks with US
June 29 (Reuters) - Canada has rescinded its digital services tax in a bid to advance trade negotiations with the U.S., Canada's finance ministry said in a statement on Sunday.
Canadian Prime Minister Mark Carney and U.S. President Donald Trump will resume trade negotiations with a view towards agreeing on a deal by July 21, 2025, the ministry said.
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Reuters
36 minutes ago
- Reuters
India's equity benchmarks likely to open higher, tracking Asian peers
July 1 (Reuters) - India's equity benchmark indexes are likely to open higher on Tuesday, tracking gains in Asian markets and as investors closely watch trade talks with the United States ahead of President Donald Trump's July 9 tariff deadline. The Gift Nifty futures traded at 25,636.5 points, as of 8:03 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above its previous close of 25,517.05. The MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab rose 0.6%, while Wall Street closed higher overnight on hopes that negotiations between the U.S. and key trading partners were gaining momentum. The U.S. dollar edged lower ahead of key jobs data due on Thursday and a vote on Trump's landmark tax and spending legislation. Oil prices dipped, weighed by expectations of an OPEC+ output hike in August. Lower oil prices augur well for importers of the commodity such as India. India's Nifty and Sensex (.BSESN), opens new tab snapped a four-day rally on Monday, dragged down by profit-taking in financials. The benchmarks rose for a fourth consecutive month in June, and are up nearly 15% since March, supported by monetary easing, robust economic indicators, and sustained institutional flows. Meanwhile, Indian officials will extend their U.S. visit to try to reach an agreement on a trade deal with the Trump administration and address lingering concerns on both sides, Reuters reported on Monday, citing two Indian government sources. The countries aim to tie up an early trade deal. Among individual stocks, Apollo Hospitals ( opens new tab will be in focus after the hospital chain unveiled plans to spin off and separately list its digital health and pharmacy unit within 18 to 21 months. Auto companies will also be in focus as they report their monthly and quarterly sales data.


BBC News
an hour ago
- BBC News
Trump's aid cut risks causing 14 million deaths, report finds
Donald Trump's move to cut most of the US funding towards foreign humanitarian aid could cause more than 14 million additional deaths by 2030, according to research published in The Lancet medical journal on Monday.A third of those at risk of premature deaths are children, the research Secretary of State Marco Rubio said in March that President Trump's administration had cancelled over 80% of all programmes at the US Agency for International Development, or USAID."For many low- and middle-income countries, the resulting shock would be comparable in scale to a global pandemic or a major armed conflict," Davide Rasella, who co-authored the Lancet report, said in a statement. The funding cuts "risk abruptly halting - and even reversing - two decades of progress in health among vulnerable populations," added Rasella, a researcher at the Barcelona Institute for Global report comes as dozens of world leaders are meeting in the Spanish city of Seville this week for a United Nations-led aid conference, the biggest one in a back over data from 133 nations, the team of researchers estimated that USAID funding had prevented 91 million deaths in developing countries between 2001 and also used modelling to project how funding being slashed by 83% – the figure announced by the US government earlier this year – could affect death cuts could lead to more than 14 million avoidable deaths by 2030, the projections found. That number included over 4.5 million children under the age of five – or around 700,000 child deaths a to Rubio, there were still approximately 1,000 remaining programmes that would be administered "more effectively" under the US State Department and in consultation with the situation on the ground has not been improving, according to UN month, a UN official told the BBC that hundreds of thousands of people were "slowly starving" in Kenyan refugee camps after US funding cuts reduced food rations to their lowest ever a hospital in Kakuma, in northwestern Kenya, the BBC witnessed a baby who could barely move and was showing signs of malnutrition, including having parts of her skin wrinkled and peeling.


Reuters
an hour ago
- Reuters
Asian shares rise, dollar weaker as US bill debate lingers; gold jumps
TOKYO, July 1 (Reuters) - Asian shares crept higher and the dollar languished near multi-year lows on Tuesday as markets awaited a vote over U.S. President Donald Trump's landmark tax and spending legislation. Global shares reached an intraday record on Monday on trade optimism, but a marathon debate in the Senate over a bill estimated to add $3.3 trillion to the United States' debt pile weighed on sentiment. Japan's Nikkei (.N225), opens new tab gauge of shares sank as much as 1.1% as the yen climbed. Oil fell for a second consecutive session and gold advanced. A vote on Trump's sweeping tax-cut and spending bill had been expected during the Asian trading day on Tuesday, but debate raged on over a long series of amendments by Republicans and the minority Democrats. Trump wants the bill passed before the July 4 Independence Day holiday. As global trade negotiators scramble to get deals done before Trump's tariff deadlines, investors are also anticipating key U.S. labour market data on Thursday. "Trade is front and centre this week, but alongside that, we've obviously got the fate of the 'One Big Beautiful Bill', which is currently being debated in the Senate," said Ray Attrill, head of FX strategy at the National Australia Bank. Payrolls data later in the week "does have significant bearing, I think, on sentiment towards the potential timing of Fed rate cuts," he added in a podcast. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was up 0.5%, led by South Korea's Kospi gauge (.KS11), opens new tab, rising 1.8%. The dollar dropped 0.3% to 143.62 yen . The greenback slid 0.1% to $1.1794 against the European single currency and earlier touched $1.1798, the weakest since September 2021. U.S. crude dipped 0.4% to $64.86 a barrel, weighed by expectations of an OPEC+ output hike in August. Spot gold rose 0.5% to $3,319.55 per ounce. Pan-region Euro Stoxx 50 futures were up 0.1% at while German DAX futures were up 0.2%.