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US commerce secretary Ross cancels India trip

US commerce secretary Wilbur Ross has canceled plans to visit India this week for a business forum due to "inclement weather" and other logistical issues, a spokesman for the agency said in a statement on Wednesday (13).

Ross was due to co-chair the US-India CEO Forum set to begin on Thursday in New Delhi. The last-minute cancellation comes as tensions have risen between the two countries over trade and investment policies.


"Due to inclement weather, technical problems that led to the cancellation of his flight and other logistical issues, secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person," the spokesman said, noting that Ross would participate remotely.

The United States is considering revoking India's zero-tariff status, sources told Reuters last week. Differences between the two countries have grown as India introduced new restrictions on e-commerce and US president Donald Trump has repeatedly called out India for its high tariffs.

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UK economy contracts unexpectedly in January

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UK economy contracts unexpectedly in January

BRITAIN's economy unexpectedly shrank in January, official data showed on Friday (14), piling more pressure on the Labour government ahead of its Spring Statement on the economy.

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Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

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