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Canada and US say they are finalising a trade deal

BBC Business8/20/2026

Canada and US say they are finalising a trade deal

Image source, @DLeBlancNB on XImage caption, US trade representative Jamieson Greer (right) said the deal eliminates several trade irritants that the Americans had with Canada. Canada and the US are finalising a highly anticipated trade deal, with President Donald Trump and Prime Minister Mark Carney touting it as a success. Trump said the proposed deal will be welcomed by US farmers and manufacturers, while Carney said it will secure "the best terms" for Canada's strategic sectors and provide certainty on the future of US-Canada trade. Trade negotiators met on Wednesday for the third time in as many days after Trump paused a new wave of tariffs he had threatened to impose overnight on a range of Canadian goods. Details on what the agreement includes have not yet been announced but reports suggest it may cover Canadian steel, aluminium and cars as well as US alcohol. Speaking to reporters on Wednesday after a 45-minute meeting with his Canadian counterpart, US Trade Representative Jamieson Greer said the Americans are "very happy" and the deal eliminates "some of the irritants" the US had with Canada. "We feel confident that we've reached an agreement that will not only continue to protect American workers, American jobs, American supply chains, but really strengthen the North American economy," Greer said. Trump said Canada has agreed to eliminate tariffs on US farmers, though he did not specify which specific agricultural sectors would benefit. Asked whether the US will also reduce some tariffs it has placed on Canada, Trump said by "a little bit". In a post on X on Wednesday, Carney said "significant progress" had been made and they were moving towards an agreement that addresses "Canada's most important strategic sectors". Canada has been in pursuit of a deal that would have the US drop or reduce tariffs on its steel, aluminium, automobiles and lumber. Under a deal that could be completed by Friday, US tariffs on Canadian steel and aluminum would reportedly be cut to 25% from 50%.

US national debt passes $40tn after doubling in a decade

BBC Business8/20/2026

US national debt passes $40tn after doubling in a decade

Image source, Getty ImagesByMichael Race and Francisco Velasquez, Business reporters, Reporting fromNew YorkPublished19 August 2026Updated 2 hours agoUS national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show. The rise reflects years of heavy spending under both the Donald Trump and Joe Biden administrations, along with higher interest payments that have steadily added to the total. In 2016, the national debt stood at just under $20tn. The Congressional Budget Office (CBO) had projected overall borrowing would reach $39.6tn only by the end of fiscal year 2026, external. The faster-than-expected rise has sharpened concerns about how quickly the government's borrowing needs are growing, and what that means for future interest costs. The CBO says the US is nearing its $41.1tn debt ceiling, with debt projected to climb to about $64tn by 2036. As the federal government spends more money to cover its budget deficits, consumers have faced higher interest rates and inflation. The $40.05tn sum, as of 18 August,, external covers all outstanding Treasury bonds, bills and notes, and underscores the scale of US borrowing under two presidents. The interest rate on 30-year bonds, which are a type of debt used to raise funds from investors, hit 5.34% on Tuesday - the highest level in almost 20 years. Those rates, known as yields, influence how much the US government, companies, and consumers pay to borrow – affecting mortgages, car loans, and credit cards. The recent surge in bond yields has been driven by rising oil prices linked to the US-Iran war, with investors worried over inflation. There are also concerns over government debt and the huge amounts of cash being borrowed by tech firms to develop artificial intelligence (AI), with the timeline and level of returns on investment uncertain. The Treasury Department said its intervention reflected its "desire to provide greater liquidity support" for longer-term bonds.

India's Gen Z are driving up a mega boom in its beauty market

BBC Business8/19/2026

India's Gen Z are driving up a mega boom in its beauty market

India's beauty brands have been drawing a lot of interest from global capital recently. Earlier this year in March, American luxury cosmetics maker Estée Lauder fully acquired, external the homegrown ayurvedic company Forest Essentials. France's L'Oréal Group followed in June, picking up a majority stake in digital personal care brand Innovist, external. And Unilever has made at least four beauty investments in the country through its venture capital arm in the last couple of years. Founded at the turn of the millennium in a garage in the Himalayan foothills by entrepreneur Mira Kulkarni - a single mother of two - Forest Essentials has grown from a fledgling startup into a billion-dollar company with a global presence over the last two decades. Its rise mirrors the explosive growth being witnessed of the country's beauty industry, which was valued at about $23bn (£17.08bn) in 2025 but is expected to nearly double in size to $40bn by the end of this decade, growing at twice the rate of the country's GDP and the broader retail market. Rising spending power in Asia's third-largest economy is partly driving this boom, according to experts. India's per capita income crossed $2,000 in 2019, a threshold beyond which discretionary spending tends to grow exponentially, according to Redseer, a business consultancy. And by 2030, some 155 million households are expected to earn more than $9,500 annually, providing a further tailwind to growth. "Historically we've underspent on beauty because there was just no purchasing power for anything other than the very basic stuff - such as all-purpose soap or face powder," Kushal Bhatnagar, a partner at Redseer, told the BBC. "But now, along with more spending power, there is improved access, distribution and product education. The internet broke these barriers, with brands leveraging the power of social media platforms and influencers to reach consumers directly." In fact, e-commerce is expected to drive around 35% of overall beauty spending by 2030, compared with just 8% five years ago, according to Reedseer's estimates. The pandemic also proved to be a major game-changer for the industry, according to Vaishali Gupta, whose two beauty ventures have witnessed breakneck expansion since their launches during Covid. She co-founded the vegan skincare company Hyphen with Bollywood star Kriti Sanon in 2023 and also runs mCaffeine which makes scrubs, washes and lotions and calls itself India's first caffeinated personal care brand. "Covid pushed people inward and toward self-care, and it coincided with a massive wave of digital penetration tier-one, tier-two and tier-three towns. Suddenly Indian consumers had access to beauty and skincare education they'd never had before - such as what was trending in Korea or Europe, or what specific ingredients could do for brightening or acne control," Gupta told the BBC.

OPSWAT Opens Its First Office and Critical Infrastructure Protection Lab in India

OPSWAT Opens Its First Office and Critical Infrastructure Protection Lab in India

OPSWAT, a global leader in critical infrastructure protection (CIP) cybersecurity solutions, opened its first India-based office and CIP lab in Bengaluru. Customers and partners in the region can now access local engineering and sales support faster and visit the lab to test defenses against live attack scenarios in IT and operational technology (OT) environments. The office will also provide demonstrations, executive briefings and workshops as well as a meeting hub to deepen collaboration with channel partners and system integrators. “The new Bengaluru office lets us collaborate directly with customers and partners in the region to address India’s growing cyber needs,” said Nith Mehta, India General Manager at OPSWAT. “Meanwhile, the CIP lab lets visitors run through simulations of real-world cyber scenarios, so they can see how our technology performs against the threats they are actually facing.” As one of the world’s largest tech hubs, Bengaluru hosts thousands of global enterprises, tech companies and startups. The region supports several sectors, such as information technology, biotechnology, aerospace and food processing, that require advanced cybersecurity solutions to protect critical infrastructure. OPSWAT employees, customers, prospects and partners attended the August 19 opening celebration. To learn more and schedule a visit to the CIP lab, contact the Bengaluru office. Since 2002, OPSWAT has protected the world’s critical infrastructure by preventing known, unknown, and AI-generated threats before they disrupt operations. The MetaDefender™ Platform is OPSWAT’s AI-powered cybersecurity platform for IT, OT, and cross-domain environments, securing files, devices, and data transfers across cloud, on-premises, and air-gapped environments. By combining AI, machine learning, advanced threat prevention, and purpose-built hardware, OPSWAT protects critical operations through file security, peripheral media protection, managed file transfer, optical firewall technology, data diodes, and specialized training. Trusted worldwide, OPSWAT safeguards the systems modern society depends on. Learn more at www.opswat.com. “This is a company press release that is not part of editorial content. No journalist of The Hindu businessline was involved in the publication of this release.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

What to Decide Before You Invest in a ULIP

What to Decide Before You Invest in a ULIP

A lot of people start looking into a ULIP plan after a colleague or relative mentions it as a way to combine insurance with investment, and then quickly get stuck on a more practical question: what actually happens after you sign up, and how do you decide if it fits your situation before committing several years of premiums to it. This is less about the product definition and more about the decisions you actually need to make along the way. • Your first premium is split between the life cover and the investment portion. • The investment value moves with the market and is tracked through the net asset value of your fund. • A part of the fund value covers ongoing charges annually, and the rest continues to grow or slow down with market performance. • You can usually switch between funds over the policy term and make partial withdrawals after the lock-in period. • You receive the maturity value based by the end of the policy term based on your fund’s worth. You must work backward from a specific goal rather than picking a figure that simply feels affordable before setting a premium amount. The answer changes how much you should commit and for how long. Committing to a premium you cannot sustain for the full term is one of the more common regrets people mention after the fact, since discontinuing early usually means losing out on charges already paid and the compounding you were counting on. A longer horizon generally allows for a higher equity allocation, since there is more time to recover from short term volatility. A shorter horizon, or a lower tolerance for seeing your investment value swing, usually points toward a debt heavy or balanced allocation. It is worth reviewing the fund fact sheets for past performance across different time periods, not just the most recent year, before making this choice.

Kundan Refinery Wins Two Awards at The IGC Excellence Awards 2026, Marking a Decade of Continued Recognition

Kundan Refinery Wins Two Awards at The IGC Excellence Awards 2026, Marking a Decade of Continued Recognition

2026 — Leading Gold Bullion Refiner (All-India) of the Year 2025-26 and Best Gold Bullion Dealer (Northern India) of the Year 2025-26. The awards were presented at the 23rd India Gold Conference, held in Goa from August 21 to 23, 2026. As one of the leading annual gatherings for the gold and bullion industry, the conference brings together hundreds of industry leaders, traders, refiners and stakeholders from across the country. This year’s double win holds special significance for Kundan Group as it marks a decade of continued recognition at the prestigious IGC Excellence Awards. Over the past ten years, Kundan has been honoured at the platform every year across various categories — a rare and remarkable streak that reflects the company’s enduring commitment to purity, quality, transparency and consistency in the gold bullion industry. The 2026 recognition, therefore, is not just another achievement but a milestone celebrating ten years of sustained industry recognition and trust. Kundan Refinery is an NABL-accredited gold refinery with more than a decade of experience in gold refining and precious metals. It is an approved refiner for delivery of gold with Multi Commodity Exchange (MCX) and National Stock Exchange (NSE). The refinery works within the framework of Kundan Group, which is a Government of India recognised Four Star Export House and an ISO 9001 certified company. “Winning these two prestigious awards at IGC Excellence Awards 2026 is especially important for us because it is a sign of ten years of our continued recognition at one of the most respectable industry platforms. These honours for the last ten years have been a recognition of the trust of the industry in our commitment to purity, quality, transparency and consistency of our services. At a time of evolution and becoming more organized and quality-oriented in India’s gold bullion market, we are committed to improve our capabilities in refining gold,” said Vidit Garg, Director, Kundan Group. These awards come as India’s organized gold bullion industry becomes increasingly interested in high standards, transparency and regulatory compliance in gold refining and bullion dealing. Kundan Group has declared its commitment to further improve its gold refining capabilities and actively participate in the growth of the Indian precious metals market. Kundan Refinery is an NABL-accredited gold refining facility with more than a decade of experience in gold refining and precious metals and it is an approved refiner for delivery of gold with MCX and NSE. Kundan Refinery works as a part of Kundan Group, which is a Government of India recognised Four Star Export House and an ISO 9001 certified company. Kundan Group has been recognized at the IGC Excellence Awards for ten years in a row. “This is a company press release that is not part of editorial content. No journalist of The Hindu businessline was involved in the publication of this release.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

100% FDI, Insurance for All by 2047 provide great opportunities for Canadian firms: FM Sitharaman

100% FDI, Insurance for All by 2047 provide great opportunities for Canadian firms: FM Sitharaman

Minister for Finance & Corporate Affairs Nirmala Sitharaman during a meeting with Kevin D. Strain, President & CEO of Sun Life Financial, in Toronto, Canada. | Photo Credit: - With FDI up to 100 per cent permitted in the insurance sector, Finance Minister Nirmala Sitharaman asked top Canadian insurance firms and pension funds to enhance investment in India. She also emphasised that the vision of ‘Insurance for all by 2047’, provides a big opportunity for investors. Sitharaman is in Canada to pitch India as an attractive investment destination and further strengthen bilateral economic ties. In her meeting with Sun Life Financial President and CEO, Kevin D Strain, in Toronto, she highlighted the liberalisation of the insurance sector, including the increase in FDI (foreign direct investment) limit from 74 per cent to 100 per cent, and the government’s vision of ‘Insurance for All by 2047’. Discussions covered India‘s resilient growth, expanding market, macroeconomic stability and rapidly developing digital and physical infrastructure, creating significant opportunities for long-term investment, the Finance Ministry said in a post on X. She also highlighted opportunities for Sun Life to deepen its presence in insurance, asset management, alternatives and infrastructure, including through GIFT IFSC, and greater participation by Canadian institutional investors in India‘s growth story. Sun Life is present in India in the insurance and fund management space, besides having other operations. In another meeting, Canaccord Genuity Vice-Chair Rod Phillips and CEO Dan Daviau highlighted the potential for greater investment flows between Canada and India. She encouraged Canaccord Genuity to explore opportunities across India‘s growth sectors and play a constructive role in connecting Canadian and global capital with Indian businesses. Discussions covered opportunities to deepen Canaccord Genuity’s engagement with India, including supporting Indian companies in accessing global capital, expanding internationally and acquiring technology and businesses overseas, the Ministry said in a separate post on X. During the meeting with Canada Pension Plan Investment Board (CPPIB) President and CEO, John Graham, and the Ontario Teachers’ Pension Plan (OTPP) President and CEO, Jo Taylor, Sitharaman encouraged them to further deepen their engagement with India‘s infrastructure sector and emerging growth opportunities. She appreciated CPPIB and OTPP’s continued confidence in India and their long-term commitment, including investment in the NIIF Infra Fund II. Discussions focused on expanding opportunities for institutional capital across transmission, renewable energy, roads, ports, urban infrastructure, digital infrastructure and data centres, the ministry said in another post on X. The Finance Minister also highlighted India‘s growing infrastructure monetisation pipeline and ongoing efforts to strengthen investor protection, regulatory predictability and transparency, as well as new opportunities in private credit and international financial services through GIFT IFSC. During a meeting with another pension fund player, OMERS’ President and CEO, Blake Hutcheson, she emphasised India‘s investor-friendly policy environment, greater tax certainty and ongoing reforms, and encouraged the fund house to explore new opportunities and partnerships across sectors and geographies in India.