Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank - which specialised in lending to technology companies - was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain's economic growth.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
To govern effectively, to legislate successfully, Modi must reach out to the Opposition. As long as he does not and he is showing no signs that he accepts the reality, the drift his fans are anguishing over will remain, cautions Aakar Patel.
Union Education Minister Dharmendra Pradhan on Wednesday said the Preamble to the Constitution is very well there in NCERT textbooks of Class VI as he refuted charges made in this regard by Congress president Mallikarjun Kharge.
Rediff.com brings you a series of leaked Wiki cables, which point towards some startling revelations. Read on
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
On Friday, Putin formally announced the annexation of four regions -- Donetsk, Luhansk, Kherson and Zaporizhia -- and claimed that "this is the will of millions of people".
India purchased US Treasury securities worth $3 billion in July taking its total holdings to $39.4 billion, at a time when America, the world's largest economy, is grappling with slowing recovery.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
The order gives the state and treasury departments authority to consider and impose sanctions on individuals, entities or associates of the Turkish government involved in actions that endanger civilians or lead to the further deterioration of peace, security and stability in northeast Syria.
India has also taken note of reports of Saeed's son Talha contesting elections in Pakistan and said the "mainstreaming" of radical terror outfits in the neighbouring country is nothing new and that it has been part of its State policy for a long time.
Citigroup chief economist Lewis Alexander is leaving the troubled financial services entity to join the US Treasury department, says a media report.
US Treasury Secretary Timothy Geithner has left for New Delhi to launch the Indo-US Economic and Financial Partnership which according to him would set the pace and put and economic relationship between the two countries on a new trajectory.
In a Twitter post last Friday, the 39-year-old son-in-law of Infosys co-founder Narayana Murthy is seen holding a bag of Yorkshire Tea along with the message: 'Quick Budget prep break making tea for the team. Nothing like a good Yorkshire brew.' It attracted a host of trolls and negative reactions, largely directed against the ruling Conservative Party but also targeted at Yorkshire Tea -- one of the UK's oldest tea brands.
Foreign residents increased their holdings of long-term US securities in May; net purchases were $34.6 billion.
Two former legislators -- R K Rana and Dhruv Bhagat -- were sentenced to five years imprisonment Monday in a fodder scam case by a special Central Bureau of Investigation court in Ranchi.
In June 2013, the same stood at $ 61.2 billion. In April, the holding stood at $ 68.7 billion.
China, the biggest foreign holder of US debt has trimmed its portfolio to $1.15 trillion to diversify its foreign reserve portfolio to avoid risks.
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The strange allegation by UAE officials is noted in a State Department cable, which reports the details of a meeting between officials of the US Treasury Department and those of UAE's State Security Department (SSD) and Dubai's General Department of State Security to discuss suspected Taliban-related financial activity in the UAE.
Vikram Pandit-led Citigroup has came under fire from the US President Barack Obama and his administration for purchasing a $50 million jet plane.
According to the US treasury department, India has slashed its holdings to $31.6 billion in February, while it was at $32.7 billion in January.
The United States on Wednesday slapped sanctions on an Afghan drug trafficking network and designated two leaders -- Shah Mohammad Barakzai and Haji Baz Mohammad -- as Specially Designated Narcotics Traffickers.
Utilising a new executive order signed by President Donald Trump, issued on the eve of the 9/11 anniversary, the treasury department sanctioned over two dozen individuals and entities from 11 terrorist groups, including Pakistan-based Tehrik-e-Taliban Pakistan.
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
A bench of Justices Ajay Rastogi and Bela M Trivedi said it is not issuing notice but tagging the matter with the pending similar appeal also filed by the CBI.
The measures announced by the Treasury Department were also aimed at 17 senior Russian government officials. The state-owned Russian weapons trading company, Rosoboronexport, which has long-standing ties to Syria and its subsidiary, Russian Financial Corporation Bank were also targeted under new sanctions.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Pakistan on Friday freed Saeed, the Lashkar-e-Tayiba founder, who immediately launched his anti-India rhetoric and vowed to mobilise people for the "cause of Kashmir".
US President Barack Obama has proposed to establish a new minimum tax on foreign earnings while repealing benefits for outsourcing jobs overseas and providing new incentives for bringing jobs back home.
Due to India's limited dependence on external demand and strong fiscal and monetary stimulus measures, the global economic and financial crisis had a relatively muted effect on the country, the Obama Administration told the US Congress on Thursday.
The United States government appointed pay czar will review the executive compensation packages at 419 bailed out companies including Goldman Sachs and JP Morgan Chase.
'The global situation is not very good.'
Days ahead of the second US- China Strategic and Economic Dialogue, the United States has reiterated that China needs to move towards a market-oriented exchange rate.
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