Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
We bring you a presentation of some of the best photos from around the world in the last week.
Abstaining in the UN General Assembly on a vote to suspend Russia from the UN Human Rights Council, India on Thursday asserted that if it has 'chosen' any side, it is the side of 'peace and it is for an immediate end to violence.'
The EU India summit is likely to endorse India's position on bilateral talks with Pakistan on Kashmir.
India has asked the United States and the European Union to focus on the interests of poorer countries in global trade talks or risk seeing the current round of negotiations being a "suicide round".
In his opening remarks at the virtual summit of Leaders of G20 countries, Modi made it clear that terrorism was "unacceptable" to everyone and the death of civilians, anywhere, was condemnable.
In a major blow to China's exports, the European Union has announced that it is cancelling some of the advantages enjoyed by Chinese commodities under the generalised system of preferences (GSP) so that other developing countries can also benefit.
Participants will watch out for the Brexit poll outcome in the late morning trades tomorrow.
Vaccine major Serum Institute of India on Tuesday said the approval for the COVID-19 vaccine 'Covovax' would strengthen immunization initiatives across India and various lower and middle income countries across the world.
India will submit a DNA protocol for basmati rice to the European Union soon, aimed at preventing fraudulent exports of the variety to the latter.
Faced with increasing pressure from the European Union, the government is all set to introduce a new legislation on data protection next year and also amend the Information Technology Act to plug loopholes and strengthen it.
The exhibition of artefacts -- in physical and digital formats -- will be done on the same floor level where the leaders' meetings will take place, and they will walk through this 'cultural corridor' while moving into and out of the summit room, official sources said.
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
India's exports to EU and Britain stood at $35.35 billion and $9.35 billion in 2015-16, respectively
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
The MP for Richmond in Yorkshire, married to Murthy's daughter Akshata, first entered the UK Parliament in 2015 and has fast risen up the Conservative Party ranks as a staunch Brexiteer who had back Johnson's strategy to leave the European Union.
A five-judge Constitution bench headed by Justice KM Joseph asked the mobile messaging app to give advertisement in five newspapers to publicise its undertaking given to the government.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
In a major victory for India, World Trade Organisation on Wednesday reversed its earlier compliance ruling on Indian bed linen dispute with the European Union.
The International Monetary Fund (IMF) on Tuesday cut its projection of India's economic growth in 2022 to 6.8 per cent, as it joins other global agencies that have trimmed forecasts. The IMF had in July projected a gross domestic product (GDP) growth of 7.4 per cent for India in the fiscal year that started in April 2022. Even that forecast was lower than 8.2 per cent projected in January this year. India had grown at 8.7 per cent in 2021-22 fiscal (April 2021 to March 2022).
May has been prime minister for nearly three years since she took over from David Cameron in the wake of the June 2016 Brexit referendum.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
Chinese foreign ministry spokesperson Mao Ning said China believes that state-to-state interactions should be in line with the trend of the time which is peace and development rather than exclusivity.
Rupee gained on increased selling of the US currency by banks and exporters
Officials said Sebi is closely in touch with RBI on the market developments.
Rishi Sunak tightened his grip on the race to replace Boris Johnson as Conservative Party leader and British prime minister as he bagged 101 votes to again emerge as the winner of the latest voting round on Thursday.
India is deeply concerned over the spike in the price of oil due to the Russia-Ukraine conflict and it is "breaking our back," External Affairs Minister S Jaishankar has said. Addressing a joint press conference with US Secretary of State Antony Blinken after holding bilateral talks, Jaishankar on Tuesday said there is a very deep concern among developing countries about how their energy needs are addressed. Speaking about the Ukraine war, he said: "We have taken the position privately, publicly, confidentially and consistently that this conflict is not in anybody's interest."
India asks WTO to reverse findings on bed linen
Bed linen issue: India files appeal in WTO
Cricket South Africa (CSA) and Koninklijke Nederlandse Cricket Bond (KNCB) have mutually agreed to defer the three-match ODI series which began on Friday.
IMAGES from the Europa League matches played on Thursday.
Countries negotiating free trade agreements (FTAs) need to keep in mind eight "myths" which surround these pacts, like they lead to accelerated increase in exports and promote domestic manufacturing, according to a report by think-tank GTRI. The report by Global Trade Research Initiative (GTRI) claims to dispel these 'myths', including that FTAs weaken the WTO (World Trade Organisation), countries are rushing to do FTAs, and these pacts promote investment and lower prices. It is "erroneously" believed that most world trade happens through the FTA route, but in reality, it is less than 20 per cent, said the report titled 'FTAs: Fabulous, Futile, or Flawed?'.
The S&P BSE Sensex shed 54 points to close at 26,813.
Separate unions for black players would not make sense and would make it more difficult to stand up for the rights of footballers, the world players' union FIFPro said on Friday.
In a series of votes on Tuesday, lawmakers rejected a no-deal Brexit by 318 votes to 310, undermining the government's argument that Britain would be willing to crash out of the EU without an agreement.
After a meeting of the Group of Ministers on coronavirus, the government has proposed a set of social distancing measures to be in force till March 31, the officials told reporters.
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