India and Iraq are likely to sign two agreements in the energy sector and cooperation in water resource management.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Modi is the first Indian premier to visit the Silicon Valley and meet its top CEOs
As already reported, citing continued threats to law and order and the security of its staffers, HBT announced on Wednesday that it was no longer bound by its 2010 agreement with the Kolkata Port Trust to run cargo handling operations at Haldia till 2020.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
The visit of Modi to the United States represents an important opportunity to rejuvenate bilateral ties after a period of malaise and inattention.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
External Affairs Minister S Jaishankar held wide-ranging talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday against the backdrop of widespread anger in West Asia over controversial remarks on Prophet Mohammed made by two former Bharatiya Janata Party spokespersons.
The constitution of both countries begins with the "three words -- We the People -- as President Biden just mentioned", said Modi, who is on his first state visit to the US.
There were concerns in Sri Lanka about the huge trade imbalance.
India has been spearheading the campaign at international fora for automatic exchange of information with a view to check tax evasion.
Invoking India's "civilisational ties" with Iran, Prime Minister Narendra Modi flew in to Tehran on Sunday on a two-day visit, saying his talks with the Iranian leadership would provide him an opportunity to advance the "strategic partnership" between the two countries.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
The Indian position on the Russia-Ukraine war and the unconditional treaty between China and Russia appear to have caused some ripples in India-US relations and led to a reappraisal of India's usefulness to the US in the eventuality of a conflict with China, notes Ambassador T P Sreenivasan.
Prime Minister Narendra Modi's planned visit to the United Arab Emirates in the first half of next month has been postponed, people familiar with the development said.
Backed by the 'China Plus One' sentiment globally, India's textile exports is expected to grow by 81 per cent to $65 billion by 2026 from the pre-Covid level of around $36 billion in 2019, said a report by the Confederation of Indian Industry (CII) and global consulting firm Kearney. This jump is likely to generate 7.5-10 million new jobs. A large chunk of this targeted increase, or around $16 billion may come from the China Plus One sentiment due to India's relatively large strategic depth compared with Vietnam or Bangladesh, the report said.
Referring to Canadian Prime Minister Stephen Harper's visit to India in November last year, Chidambaram said that India and Canada have longstanding bilateral relations, built upon shared traditions of democracy, pluralism and strong interpersonal connections with an Indian diaspora of more than one million in Canada.
Asked for China's comments on India not joining the RCEP deal over concern of cheap Chinese products potentially harming its domestic industry, Chinese foreign ministry spokesman Geng Shuang told the media in Beijing on Tuesday that China welcomes India joining the deal.
India has been forcefully raising the issue of market access as well as protected lists of goods mainly to shield its domestic market as there have been fears that the country may be flooded with cheap Chinese agricultural and industrial products once it signs the deal.
During the meeting, Gantz emphasised the opportunity to invest further in defence cooperation between the two countries.
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
Both Obama and Modi have taken bold steps towards laying the groundwork to give a big push to Indo-US trade, and now it's time to execute, says Bikash Mohapatra.
The main issue has been that of a higher Asset Management Ratio as has been prescribed by the Monetary Authority of Singapore for qualifying full banks from India.
Negotiators from were expected to meet in New Delhi on August 28.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
Despite the headwinds both on the domestic and global fronts, Ramesh S Damani, member, BSE and a prominent investor, says India will weather a global trade war better than a lot of other Asian countries.
Domestic exporters may soon start shipments of mangoes, such as 'Dasheri' and 'Langda', to the US as America will start accepting testing certificates of specified agencies of India, a senior government official said on Tuesday. India has not exported mangoes to the US for the last two years. The set protocol involves the arrival of the US phytosanitary inspector, who monitors the process, which is called pre-clearance operations before exports. They have not visited India during the summer of 2020 and 2021.
'Washington appears to be playing the long game, and making the argument to India that over the longer term, Russia -- sanctioned, cash-strapped, isolated by the West -- will no longer be a viable defence partner for India'
Ahead of his talks with the Emirati leadership, Prime Minister Narendra Modi has said the Gulf region is vital for India's economic, energy and security interests.
China is expected to commit investments worth $6.5 billion to set up industrial parks in India and sign purchase agreements of over $3 billion with domestic companies during the visit of Chinese President Xi Jinping starting on Wednesday.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
Sources had earlier said Modi and Putin would also deliberate on impact of US sanctions on import of crude oil from Iran.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period of three to six months for investors before prohibiting the possession, trading, mining, and issuing of cryptos. A group of secretaries chaired by the Cabinet secretary is learnt to have met in mid-March and discussed issues associated with cryptos, including the consequences of banning them and also on possible substitutes of blockchain technology - an advanced technology Bitcoin uses.
El-Sisi welcomed Modi, who is on a two-day state visit to Egypt, at the Presidential Palace where the two leaders were closeted for one-on-one meeting after which the two sides signed a memorandum of understandng.
Indian firms feared they would lose business if US ratified the Trans-Pacific Partnership agreement with 11 other countries.
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