The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
Russia on Monday accused the US of "actively" exploiting the "contradictions" between India and China to its advantage and asserted Moscow and New Delhi accumulated mutual trust and confidence based on decades-old ties that would help the two sides to deal with the current geopolitical turbulence.
The US is the worst-hit nation with 211,793 deaths and 7,549,429 infections.
At the invitation of Prime Minister Narendra Modi, President Xi Jinping and PM Shehbaz Sharif will attend via video conference, the 23rd meeting of the Council of Heads meeting of the SCO on July 4.
'Anyone familiar with Modi's track record will know he never forgets a slight, a betrayal,' notes Virendra Kapoor.
'The events of 2020 have actually put our relationship under exceptional stress.' What External Affairs Minister Dr Subrahmanyam Jaishankar told the All India Conference of China Studies on Thursday, January 28, 2021.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
'This is still a relatively immature defense and high-tech relationship.'
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
By the year 2027, which marks the centennial of the founding of the People's Liberation Army, China will build a fully modern military, a goal that is in alignment with the national strength and will fulfil the future national defence need, state-run Global Times quoted Chinese analysts as saying.
Pelosi said that she is in Taiwan to listen and learn from Taiwanese people as to how can they come together.
Xi said China is ready to work with Pakistan to forge a closer China-Pakistan community of shared future in the new era.
'Earnings will be the catalyst for markets to march higher from here on out.'
When President Obama lands in New Delhi later this week, this spirit of accommodation must reignite a strategic economic relationship between the two countries.
'We must be careful because China has not given its design in Eastern Ladakh.'
Mobile phone manufacturer Oppo has lodged an appeal with the Supreme Court against an order from the Delhi high court. The order requires Oppo to submit a security payment related to the India portion of the last-paid licence fee to Nokia in an ongoing patent infringement case. The case is slated to appear before the bench of the Chief Justice of India, D Y Chandrachud, on August 4.
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
'New Delhi showed itself willing -- at least for a period -- to tolerate the risk of conflict and to withstand Beijing's implicit and explicit threats.' 'But it also continued to try to cut some kind of deal with China to reduce tensions.'
The ban against the eight Chinese apps -- Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office -- will come into effect in 45 days from Tuesday.
Being a pragmatist Modi is not likely to give preference to China over Japan. Both security and economic aspects are likely to shape Modi's decision in terms of engaging the two biggest economies of Asia, says Sana Hashmi.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
The US election campaign has provided plenty of ammunition for the CCP to make its case that its political system is superior.
Defence Minister Rajnath Singh is likely to hold bilateral talks with his Chinese counterpart Li Shangfu on the sidelines of the SCO defence ministerial conclave in Delhi, people familiar with the matter said.
The entire gamut of China's activities is aimed at keeping India on tenterhooks, cause fatigue to its troops and keeping its security system unstable, so that it cannot play a meaningful role in international geopolitics as an effective partner of the US and Japan, observes Lieutenant General Syed Ata Hasnain (retd).
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
Pakistan's Army Chief Gen Raheel Sharif is in China's militancy hit Muslim-majority Xinjiang province on a rare visit where he met his Chinese counterpart General Fang Fenghui, promising to crackdown on Uighur militants.
In her first address to a joint sitting of the two Houses in the new Parliament building in which she touched on varied issues ranging from insurgency to inflation, Murmu said a country can progress at a fast pace only when it defeats the challenges of the past and puts maximum energy into building the future.
Rulers in New Delhi and their political aides in sensitive states like Tamil Nadu have to be doubly careful not to provoke a situation whose consequences may be much more than visible now to the naked eye, notes N Sathiya Moorthy.
China was also slammed by the panel for "lost opportunities to apply basic public health measures at the earliest opportunity."
A report details the campaign conducted by a China-linked threat activity group RedEcho targeting the Indian power sector.
In the test, a space rocket boosted a hypersonic glide vehicle, one capable of carrying a nuclear device, which circled the globe before impacting.
'It is time we Indians stop our internal bickering and present a united front to Chinese machinations,' advises Colonel Anil A Athale (retd).
The southern deep-sea port of Hambantota is considered strategically important for its location.
India must be aware that there is no question of the US fighting the Chinese on land. We have to fight our own battles, points out Virendra Kapoor.
'India is not the India of 1962. We are not carrying that baggage of history anymore.'
Chinese Foreign Ministry spokesman Geng Shuang said that Washington's move only complicates the issue.
'Keeping Kashmir out of the informal summit does not mean that they have given up their strategic interest.'
Beijing's growing assertiveness as kingmaker in Kabul has suffered a setback with Washington quietly moving in, observes Ambassador M K Bhadrakumar.
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