India is evaluating its involvement in the Chabahar port project in Iran due to potential US tariffs. The US had granted India a waiver for the project, but it expires soon. India is exploring options to continue supporting the port's development while minimizing exposure to US sanctions.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
The US Department of the Treasury on Wednesday imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.
The passing of bills without Parliament, including the treasury benches, having any real understanding of what they contained through any rigorous process has accelerated through the Modi era, points out Aakar Patel.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The rupee breached 90-levels against the greenback for the first time on Wednesday, falling 6 paise to 90.02 in early trade, as banks kept buying US dollars at higher levels and FII outflows continued.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
The Andhra Pradesh government has prepared an action plan for relief and essential supplies in pre-cyclone preparedness for Cyclone Montha, expected to cross the coast on October 28.
Whether Trump will actually press ahead with the oil sanctions remains unclear, since keeping Russian oil out of the world market risks high oil prices which could boomerang on the US economy and be damaging politically for Trump, points out Ambassador M K Bhadrakumar.
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
Lt Gen Ahmed Sharif Chaudhry, the spokesperson for the Pakistan Army, is the son of a nuclear scientist who was sanctioned by the United Nations and the US for providing information and expertise to al-Qaeda, according to Indian officials. Chaudhry's father, Sultan Bashiruddin Mahmood, allegedly provided insights into nuclear weapons infrastructure and raised funds for a fundamentalist organization linked to the Taliban. Mahmood was arrested in 2001 after admitting to meeting Osama bin Laden but was later released.
The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management.
The US considers Indian a critical financial centre.
In trying to portray a globally sanctioned terrorist as a 'common man', Pakistan was exposed when its top official publically outed crucial details about Hafiz Abdul Rauf, including his national identity number which matched details in the database of the United States sanction list of terrorists.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
The United States and Ukraine have signed an 'economic partnership agreement,' giving Washington, DC access to Ukraine's rare earth minerals in return for creating an investment fund in the country, CNN reported.
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
China sits on a mountain of United States treasury debt, reinforcing its position as the world's number one holder of US treasury securities with a total of $895.2 billion. China's foreign exchange reserves too stood at a mammoth $2.45 trillion at the end of March 2010.
Trump stated that Russia will face "severe economic consequences" if Putin doesn't show interest in de-escalating the Ukraine conflict.
The boost from treasury income has helped RIL juice up its earnings at a time when the margins in its core refining & petrochemicals business are running low.
The US Department of Treasury plans to sell its 27 per cent stake in Citigroup Inc, says a media report. The stake selling is part of a programme of regularly scheduled sales.
In a significant gesture ahead of the high level Sino-US talks, China has increased its holdings of United States treasury debt by $17.7 billion, consolidating its position as the number one holder of US treasury securities with a total of $895.2 billion.
The US treasury department informed about the sanctions following the October 7 attacks on Israel by Hamas.
Finance Minister Nirmala Sitharaman on Tuesday, April 11, 2023, met with US Treasury Secretary Janet Yellen in Washington, DC.
The move by the US President came following a retaliatory move by China, where it increased its tariff on US goods from 34 per cent to 84 per cent starting April 10.
The United States Department of Government Efficiency (DOGE), led by Elon Musk has announced cancelling a $22 million funding intended for 'voter turnout in India' on Saturday (Local Time).
United States President Donald Trump has announced that Washington DC will stop minting pennies, citing their high production cost, which exceeds their face value and termed the practice "wasteful." President Trump said Sunday that he has instructed Treasury Secretary Scott Bessent to "stop producing new pennies."
On Wednesday, protests erupted across the United States in response to President Donald Trump's recent actions.
Shree Jagannath Temple Administration under the state law department, did not respond to the queries of Bolangir-based RTI activist Hemant Panda.
The former Bihar Chief Minister was sentenced to five years in prison and slapped a fine of Rs 60 lakh by a special CBI court in Ranchi in connection with the fifth fodder scam case involving embezzlement of over Rs 139 crore by Doranda treasury.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy committee (MPC) meeting on Wednesday. The meeting of the six-member MPC, which will culminate on Friday, aims to boost sluggish economic growth, which is seen falling to a four-year low. Malhotra took charge as the 26th RBI governor in December last year.
A students' organization in Madhya Pradesh has demanded an inquiry after a woman, recently selected in the government service in the disabled quota, was seen dancing in a viral social media video. The woman, however, denied any irregularity in her appointment, claiming that she suffers from 45 percent disability due to bone-related problems. She stated that she is able to walk and even dance for short periods due to implants from surgery following a serious hip injury.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
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