Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
On Saturday, North Korea's nuclear envoy Kim Kye-gwan said Pyongyang would not shut down its main nuclear reactor until all of the frozen funds were released.
Making a case for a robust rupee, the US on Tuesday said currency value should reflect the economic fundamentals - which has been good in the case of India - although a stronger dollar was in Washington's interest.
India must continue with its economic reform agenda or risk lose the credibility it has acquired in the world over the years, a top US administration official has said.
Sarojini Naidu, Mother Teresa or Savitribai Phule?
It's high time the government accounts everything on an accrual basis rather than cash basis
The steps taken by the G-20 have helped the recovery of the global economy, said US Treasury Secretary Timothy Geithner.
US treasury secretary John Snow learned more than one month ago of the tentative plan and Chinese officials gave him details on the change and its timing before the announcement, The Financial Times and The Asian Wall Street Journal said.
The last minute decision of the Congress to withdraw Rahul Gandhi's name as the lead speaker on the no-confidence motion in the Lok Sabha led to heated exchanges between the opposition and treasury benches on Tuesday.
Terming India's move to increase foreign direct investment cap in insurance sector to 49 per cent from the current 26 per cent as step in the right direction
The Trump administration is confronting and countering malign Russian cyber activity, including their attempted interference in the US election, destructive cyber-attacks, and intrusions targeting critical infrastructure, said Treasury Secretary Steven T Mnuchin.
United States Deputy National Security Advisor Daleep Singh is the White House's anchorperson for economic sanctions against Russia.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
He is among several leaders of Indian heritage who have ascended to the highest echelon of public service globally.
'No one in this administration, not the President nor anyone on the national security team, would suggest that the Taliban are respected and valued members of the global community'
Several opposition MPs on Wednesday demanded an explanation from Home Minister Amit Shah after two visitors jumped into the Lok Sabha chamber from the visitors' gallery and opened canisters that emitted coloured smoke, triggering panic among the members.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
'It will send a very strong signal that it is now our time to grow.'
The Congress on Wednesday came out in defence of Rahul Gandhi saying he never disrespects women and the Bharatiya Janata Party is indulging in an 'indecent' act of accusing him of 'misconduct' as it does not want a debate on Manipur violence.
The Congress leader's remarks had drawn a sharp response from the treasury benches, with Law Minister Kiren Rijiju asking him not to level "wild allegations" and to furnish proof of his claims.
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.
Sri Lanka on Thursday signed an agreement with India to jointly redevelop the strategic World War II-era oil tank farm in the island nation's eastern port district of Trincomalee, in a new milestone in bilateral economic and energy partnership.
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.
Prime Minister Liz Truss has unveiled one of the United Kingdom's most diverse cabinets, with key frontline posts going to ethnic minority members of Parliament, including Indian-origin Suella Braverman as the home secretary.
Technology giant Microsoft is in talks with TikTok's parent company ByteDance to buy its US operation.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
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.
"Lalu Prasad has been sentenced to 5 years imprisonment while a penalty of Rs 60 lakh has also been imposed on him. Apart from Prasad, five years imprisonment each was announced by the Court for five convicts, four years each for 32 convicts and three years each for three convicts," CBI counsel B M P Singh told PTI.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
The other top officials who will accompany the US president are Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, National Security Advisor Robert O'Brien and Energy Secretary Dan Broulliette, the sources said.
'If the business before the House is suspended under Rule 267 it will mean the government has recognised that there is great urgency (to discuss the Manipur violence).' 'Government doesn't want to recognise that at all.'
The unusual timing of the session has left everyone wondering, even though the main standout feature on the listed agenda is a special discussion on Parliament's journey of 75 years starting from the "Samvidhan Sabha" (Constituent Assembly).
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances