eznews.inUS Secretary of State Marco Rubio and Indian External Affairs Minister S. Jaishankar have expressed their support for a newly reached trade deal between President Donald Trump and Prime Minister Narendra Modi. During Jaishankar's three-day visit to Washington, DC, the two officials discussed formalising cooperation on critical minerals exploration, mining, and processing, as highlighted by US Principal Deputy Spokesperson Tommy Pigott. The leaders underscored the significance of their democracies collaborating to create economic opportunities and enhance energy security. They also reaffirmed their commitment to expanding bilateral and multilateral cooperation through the Quad, emphasizing the importance of a prosperous Indo-Pacific region. Following a phone conversation between Trump and Modi, it was announced that the US would reduce tariffs on India from 50% to 18%, while India would work towards eliminating its tariffs and non-tariff barriers against the US. Details of the agreement are still being finalised by negotiating teams. 
Published: Feb 04 2026, 10 ameznews.inThe Indian government has announced the establishment of the Policyholders’ Education and Protection Fund to enhance awareness about insurance, alongside new regulations to safeguard policyholder data in compliance with the DPDP Act 2023. Set to take effect on February 5, 2026, the 'Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025' introduces significant reforms, including raising the foreign direct investment (FDI) cap in the insurance sector from 74% to 100%. While this change aims to boost investment, it mandates that top executives of insurance firms must be Indian citizens. The act also facilitates mergers between non-insurance and insurance companies and streamlines regulatory processes to promote ease of doing business. Additionally, the Insurance Regulatory and Development Authority of India (IRDAI) will gain enhanced powers to enforce compliance and penalize misconduct within the sector.
Published: Feb 04 2026, 10 ameznews.inDanish shipping giant Maersk and Germany's Hapag-Lloyd have officially launched their operational collaboration, dubbed the "Gemini Cooperation," on February 1, 2025, which encompasses 29 shared mainliner and 29 shuttle services on East-West trade routes. In a significant routing change, the companies will now transit one of their shared services through the Red Sea and Suez Canal, a move expected to reduce sailing time by nearly a week compared to the previous route around the Cape of Good Hope. This adjustment follows nearly two years of rerouting due to Houthi attacks that had disrupted maritime activity in the region. The first changes will be implemented on the ME11 service, with the Albert Maersk and Astrid Maersk vessels set to commence new routes in February 2026. Both carriers emphasize that the safety of their crews and cargo remains paramount, and they will closely monitor the security situation in the Middle East.
Published: Feb 04 2026, 10 ameznews.inIndia's services sector showed signs of recovery in January, with the Purchasing Managers’ Index (PMI) rising to a two-month high of 58.5, up from 58 in December, according to S&P Global. This growth was attributed to a steady influx of new orders, particularly from international markets in South and Southeast Asia, leading to a marginal increase in hiring. Despite this, most firms opted to maintain their workforce levels, citing sufficient resources for current demands. Business confidence also climbed to a three-month high, bolstered by efficiency gains and successful marketing strategies. However, input costs rose at their fastest pace since September, driven by higher prices for various goods, while output charges increased moderately. The report highlighted that cost pressures were most pronounced in the Consumer Services sector, with the Finance & Insurance sector experiencing the highest rise in output charges.
Published: Feb 04 2026, 10 ameznews.inBoeing is set to conduct the first flight of its long-delayed 777X production model in April, according to a company document obtained by Reuters. This marks a significant milestone for the aircraft, which is expected to be delivered next year. Currently, Boeing is performing fuel tests on the 777X, ordered by Lufthansa, at its Paine Field facility in Washington, with engine tests scheduled for later this month. Despite logging more flight hours than any other Boeing program, the 777X remains six years behind schedule, with the company incurring $15 billion in charges. Certification from the Federal Aviation Administration is still pending, requiring testing on a production-configured aircraft. The 777X, which succeeds the 747 and 777, is crucial for Boeing's long-haul offerings amid stiff competition from Airbus. Recently, CEO Kelly Ortberg revealed a potential issue with the aircraft's GE Aerospace engines, though it is not expected to affect the delivery timeline.
Published: Feb 04 2026, 9 ameznews.inAt the World Trade Organization's informal ministerial gathering in Davos, US Trade Representative Jamieson Greer announced a significant trade deal with India, which will see the South Asian nation reduce tariffs on a wide range of American industrial and agricultural goods to zero. Greer described the agreement as a "big win," noting that while the US will maintain an 18% tariff due to a substantial trade deficit, India will eliminate tariffs on approximately 98-99% of industrial goods and various agricultural products, including fruits and vegetables. The deal also addresses non-tariff barriers, with an understanding to recognize US standards in trade. Additionally, Greer commented on India's recent diversification of energy sources, including a reduction in Russian oil purchases, aligning with US interests. The agreement is expected to enhance market access for American farmers and producers, further strengthening US-India relations.
Published: Feb 04 2026, 9 ameznews.inIndia has agreed to provide the United States with limited access to its agricultural market, while maintaining key protections, as part of a new trade deal between US President Donald Trump and Indian Prime Minister Narendra Modi. The agreement will see India reduce tariffs on American industrial goods from 13.5% to zero and eliminate duties on US fruits, vegetables, nuts, and wine. In return, the US will lower its tariffs on Indian goods from 50% to 18%. The deal, which aims to boost US exports and includes a commitment for India to purchase $500 billion in American goods over several years, follows a period of easing tensions between the two leaders. However, India will retain protections for certain agricultural sectors, and the deal's terms are considered less favorable than those that could have been negotiated last year. Additionally, India will phase out Russian oil imports in exchange for tariff reductions.
Published: Feb 04 2026, 9 ameznews.inIn a significant move to bolster India's maritime infrastructure, Union Ministers Sarbananda Sonowal and Ashwini Vaishnaw, along with other officials, signed an agreement on Tuesday for the establishment of the Bharat Container Shipping Line (BCSL) in New Delhi. This initiative is part of the Rs 10,000-crore Container Manufacturing Assistance Scheme (CMAS) outlined in the Union Budget 2026-27, aimed at creating a competitive container manufacturing ecosystem to support the growing demand for containerised cargo, which constitutes two-thirds of international trade value. The memorandum of understanding (MoU) involves key stakeholders, including the Shipping Corporation of India and various port authorities, and aims to achieve an annual domestic manufacturing capacity of one million TEUs over the next decade. Additionally, a separate MoU was signed for financing the Outer Harbour Project at VO Chidambaranar Port, with joint funding of up to Rs 15,000 crore to enhance port capacity under the Sagarmala Programme.
Published: Feb 04 2026, 12 ameznews.inA wingtip collision involving an Air India and an IndiGo aircraft occurred at Mumbai airport on Tuesday evening, as reported by the Directorate General of Civil Aviation (DGCA). The incident took place while the Air India Airbus A320 was taxiing towards the runway for a flight to Coimbatore, and the IndiGo aircraft was returning from Hyderabad and heading to its parking bay. Both planes have been grounded for inspection, and the DGCA has launched an investigation into the incident. Air India confirmed that the collision caused damage to its aircraft's wingtip, but all passengers were safely disembarked, with alternative travel arrangements being made. IndiGo also reported that its passengers were unharmed and that the aircraft is undergoing maintenance checks. Both airlines have adhered to established protocols by notifying the relevant authorities about the incident.
Published: Feb 03 2026, 10 pmeznews.inThe Directorate General of Civil Aviation (DGCA) has confirmed that both fuel control switches on an Air India Boeing 787 were inspected and deemed satisfactory following a pilot's report of a defect. The aircraft, which operated on the London-Bengaluru route, was grounded after the pilot noted that the fuel control switch did not lock properly. Fuel control switches are critical for managing engine fuel flow and have come under scrutiny since the Air India 171 accident in Ahmedabad last June. The DGCA noted that improper external force caused the switch to inadvertently shift from "run" to "cutoff" mode. In response, Air India is conducting a precautionary reinspection of fuel control switches across its fleet of 33 Boeing 787s, with no adverse findings reported so far. The DGCA has also advised Air India to distribute Boeing's recommended procedures for operating the fuel control switch.
Published: Feb 03 2026, 10 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact