MINISTRY OF FINANCE

FM Sitharaman to visit Canada, US from Aug 25-Sept 2

First India-Canada Economic and Financial Dialogue on agenda

Sitharaman, Canadian Finance Minister to participate in inaugural dialogue

FM to lead India delegation at G20 FMCBG meeting under US Presidency

TCS: €1.25 BN, 5-YEAR STRATEGIC DEAL WITH PORSCHE 🤝

• TCS has signed a 5-year strategic deal worth €1.25 billion with Porsche AG.

• Partnership to begin after the closing of the MHP acquisition.

• Focus areas include AI across engineering, manufacturing, operations and customer experience.

• TCS will support Porsche’s enterprise transformation and next-generation automotive technology.

• 🚗 Partnership also covers software-defined mobility platforms.

SITHARAMAN HEADS TO CANADA AND US FOR 8-DAY TRIP — FIRST-EVER INDIA-CANADA ECONOMIC DIALOGUE ON THE AGENDA

IRAN IS COMPLETELY COLLAPSING!!! PRESIDENT DJT

U.S. TREASURY EXPECTED TO ANNOUNCE IT WILL BROADEN SCOPE OF SECONDARY SANCTIONS ON COUNTRIES, ENTITIES DOING BUSINESS WITH IRAN -SOURCE FAMILIAR WITH BESSENT'S PLANS || U.S. TREASURY TO MAKE ANY ACTIVITY IN CERTAIN IRAN SECTORS SUBJECT TO SECONDARY SANCTIONS-SOURCE

COAL INDIA: CO INCORPORATES SINGAPORE-BASED WHOLLY OWNED SUBSIDIARY CIL GLOBAL TO ACQUIRE CRITICAL MINERAL ASSETS

AXIS BANK: CO TO REDEEM USD 600 MILLION 4.10% ADDITIONAL TIER 1 NOTES ON SEPTEMBER 8

THE U.S. TREASURY HAS SANCTIONED NEARLY 60 IRAN-LINKED ENTITIES, PEOPLE AND VESSELS ACROSS NUCLEAR, MISSILE, CYBER AND OIL NETWORKS, AND SUSPENDED GENERAL LICENSES THAT ALLOWED SOME REMITTANCE PAYMENTS TO IRAN.

THE U.S. TREASURY SAYS IT IS TARGETING FIVE SECTORS FOR POTENTIAL SECONDARY SANCTIONS — DIGITAL ASSETS, TECHNOLOGY, GOLD, AVIATION AND SHIPPING - TREASURY STATEMENT

U.S. TREASURY SECRETARY BESSENT SAYS THAT UNDER TRUMP, 'WE ARE ENDING THE IRAN THREAT', GIVING IRAN 'TWO PATHS, NORMALCY OR TOTAL ISOLATION', AND THAT THE U.S. WILL BLOCK EVERY POTENTIAL REVENUE SOURCE FOR THE IRGC AND ENFORCE A 'ZERO LEAKAGE APPROACH' TO IRAN SANCTIONS.

U.S. TREASURY SECRETARY BESSENT SAYS TRUMP IS MAKING PHONE CALLS TO WORLD LEADERS TO CUT ECONOMIC TIES WITH IRAN.

U.S. TREASURY SECRETARY BESSENT SAYS IRAN HAS 'TWO PATHS, NORMALCY OR TOTAL ISOLATION', ADDING THAT THE U.S. WILL BLOCK EVERY POTENTIAL REVENUE SOURCE FOR THE IRGC AND ENFORCE A 'ZERO LEAKAGE APPROACH' TO IRAN SANCTIONS.

KOTAK MAHINDRA BANK: CO ALLOTS USD 650 MILLION 5.478% SENIOR NOTES DUE 2031

U.S. TREASURY SECRETARY BESSENT SAYS TRUMP IS MAKING PHONE CALLS TO WORLD LEADERS AND CALLING SPECIFIC NATIONS TO CEASE IRAN DEALINGS, ADDING THAT THE U.S. EXPECTS ACTION FROM OTHER NATIONS.

U.S. TREASURY SECRETARY BESSENT SAYS EVERY COUNTRY HAS A DEFINED, FINITE TIMELINE TO SHUT DOWN THE ACTIVITIES THE TREASURY HAS IDENTIFIED, INCLUDING CLOSING IRAN'S BANK BRANCHES ABROAD, AND THAT IF THEY DO NOT TAKE ACTION, THE U.S. WILL DO SO UNILATERALLY THROUGH TREASURY AUTHORITIES

U.S. TREASURY SECRETARY BESSENT SAYS THE NEW MEASURES BROADEN SECONDARY SANCTIONS RISKS AND WILL BLOCK DOLLAR ACCESS FOR THOSE LAUNDERING IRAN FUNDS, WARNING THAT ECONOMIC TIES WITH IRAN 'WILL TRIGGER THE FULL EXTENT OF AMERICAN POWER' AND TELLING 'THOSE WHO ENABLE IRAN, DON'T TEST OUR RESOLVE'.

U.S. TREASURY SECRETARY BESSENT SAYS 'NO ONE IS ABOVE THE REACH OF U.S. SANCTIONS' AND THAT U.S. EFFORTS 'WON'T END UNTIL THE IRANIAN REGIME STANDS ALONE'.

U.S. TREASURY SECRETARY BESSENT SAYS EVERY NATION SHOULD BE READY TO FACE U.S. SANCTIONS IF BACKING IRAN AND THAT NO ONE, INCLUDING CHINA, IS EXEMPT, WARNING THAT IF CHINA FACILITATES TRANSACTIONS IT IS TO BE TARGETED.

U.S. TREASURY SECRETARY BESSENT SAYS HE WON'T SET EXACT TIMELINES FOR REDUCING IRAN TIES AS 'PATIENCE ISN'T UNLIMITED', WARNING OF RAMIFICATIONS IF OTHER NATIONS DON'T RESPOND QUICKLY.

U.S. TREASURY SECRETARY BESSENT SAYS THE U.S. IS ALREADY SEEING SOME RESULTS ON THE IRAN PUSH — WITH THE UAE'S RECENT IRAN MOVES 'NOT A COINCIDENCE BUT CAUSAL' — AND THAT TRYING TO BUY IRAN'S APPEASEMENT 'WILL NO LONGER WORK', WARNING 'YOU WILL SEE A WAVE OF SANCTIONS AFTER THIS' AND THAT HE EXPECTS A MAJOR FINANCIAL INSTITUTION TO BE SANCTIONED THIS WEEK.

U.S. TREASURY SECRETARY BESSENT SAYS ON CANADA THAT TRUMP WOULD LIKE IT TO 'COME TO THE TABLE AND NEGOTIATE IN GOOD FAITH'.

U.S. TREASURY SECRETARY BESSENT SAYS ON THE IRAN INITIATIVE THAT 'A WARNING SHOT IS APPROPRIATE', HAVING GIVEN EVERYONE AN OPPORTUNITY TO REMEDY BAD BEHAVIOR, AND THAT NATIONS SHOULD BE SET TO LEAVE THE DOLLAR SYSTEM IF THERE IS NO COOPERATION.

U.S. TREASURY SECRETARY BESSENT SAYS ON THE BUYBACK PROGRAM THAT 'WE HAVEN'T BOUGHT A SINGLE BOND YET', WITH THE NEXT OPERATION ON SEPT. 9.

Oil & Gas Stocks-Ancillaries (+ve)

Union Minister Hardeep Puri reviews energy sector roadmap with MoPNG officials, PSU heads

-- Progress reviewed on ‘Samudra Manthan’ National Offshore Exploration Scheme

Alert: Cabinet cleared ₹84,084 crore outlay through FY 2030-31 to unlock India’s offshore energy potential

-- Year-wise roadmap being finalized for faster drilling, seismic surveys & rig deployment

-- KG, Mahanadi, Andaman & Cauvery basins to see accelerated exploration by ONGC, Oil India

-- ONGC-led JV to boost drillship capacity, address critical infrastructure bottlenecks

-- Duliajan Feeder Line & National Gas Grid link to unlock stranded Northeast gas reserves

-- Feedstock mapping & cooperative clusters to strengthen CBG aggregation and market access