Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
External Affairs Minister S Jaishankar, meanwhile, said the sixth flight under India's evacuation mission 'Operation Ganga' left for Delhi from Budapest with 240 Indian nationals.
The plan was to equip the Su-30 aircraft with more powerful radars and the latest electronic warfare capabilities to make it more powerful as per the latest standards, the sources said.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent days. The inflow in December was much lower compared to Rs 36,239 crore invested by FPIs in the month of November, data with the depositories showed.
As sanctions-hit Russia increasingly relies on consumer products from India, outbound shipments to Russia have started picking up for the second consecutive month in October. This comes after it witnessed contraction for six consecutive months starting March, commerce and industry ministry data showed. During October, India exported goods worth $280 million, up 3.7 per cent as compared to a year ago. It was led by demand for items such as vegetables, tea, coffee, chemicals as well as iron and steel products.
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
Russia has almost completed the delivery of major components of the second regiment of the weapon systems.
The Jordanian-drafted resolution did not make any mention of the militant group Hamas, with the US expressing outrage at the "omission".
The G7 summit, to be held in the luxury resort of Borgo Egnazia in Italy's Apulia region from June 13 to 15, is likely to be dominated by the raging war in Ukraine and the conflict in Gaza.
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.
While the whole world is using good words to describe India, its main opposition leader is claiming on foreign soil that the country has been destroyed and democracy is no longer there while the judiciary and the media are in a bad shape, BJP spokesperson Sambit Patra told reporters.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
A step away from nuclear weapons being used in conflicts, warns Colonel Anil A Athale (retd).
Amid the growing tension between Ukraine and Russia, evacuated Indian nationals from the war-torn country have refused to leave their pets behind.
Modi, who is visiting Ukraine at the invitation of President Volodymyr Zelenskyy, has said that he will share with the Ukrainian leader perspectives on peaceful resolution of the ongoing conflict.
The Pentagon has alleged that Russia continues to provide the separatists fighting in eastern Ukraine with heavy weapons and other military equipment, in addition to financing.
Gold burnished its image as the go-to asset class during turbulent times. However, investors seemed to have missed the bus. Net inflows into gold exchange-traded funds (ETFs) plunged to a four-year low of Rs 653 crore in 2022-23 (FY23), even as gold emerged as the top-performing asset class.
Ukraine's First Deputy Foreign Minister Emine Dzhaparova has conveyed to her Indian interlocutors Kyiv's desire to build a stronger and closer relationship with New Delhi.
India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. "Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Smbhav Summit.
Guterres, who opened an emergency meeting of the 15-nation Security Council on Ukraine late Wednesday, in his brief off-the-cuff remarks said 'if indeed an operation is being prepared, I have only one thing to say from the bottom of my heart: President Putin, stop your troops from attacking Ukraine. Give peace a chance. Too many people have already died'.
Addressing a huge gathering in Lahore, Imran played a video clip of India's Foreign Minister S Jaishankar from Bratislava Forum held in Slovakia and praised the Indian minister for standing firm to the United States pressure over buying cheap oil from Russia.
The extra 1.3 billion pounds comes from the Reserve, funds the UK government said it has set aside for the most pressing emergencies.
There have been growing global concerns over China's sweeping claims of sovereignty over all of the South China Sea, a huge source of hydrocarbons.
Answering a question about whether Biden will raise the issue of a unified response to Russia, White House Press Secretary Jen Psaki said, "We will convey the same sentiments in this meeting."
Here is all the info one needs about the Paris 2024 Olympics: the dates, the venues, the opening ceremony, new sports and security issues.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Russia on Wednesday said there will be no impact of the Western sanctions against it on the supply of S-400 missile systems to India.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
Fighting in Ukraine has so far pushed more than 500,000 people across the country's borders, according to the United Nations refugee agency.
Trudeau stopped short of calling for Parliament speaker Anthony Rota to step aside from the role he's held since 2019.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
'If the Russian forces do capture Kyiv and set up some sort of provisional government, they might run into an insurgency, for which the geography is just right, it could prove costly for them.' 'In that event, the whole exercise could turn out to be counter-productive -- and costly in both foreign policy and domestic terms.'
The increase in India's military spending was "mainly a result of growing personnel and operations costs" which made up almost 80 percent of the total military budget in 2023, the SIPRI report claimed.
Jaishankar said that India and Russia have a long-standing relationship that has certainly served New Delhi's interests well.
"I would like to wish India all the best. I also know that tomorrow, my dear friend, you are about to celebrate your birthday. "As per the Russian tradition, we never offer Congratulations in advance. So, I cannot do that right now," Putin said.
The India-Japan global partnership is based on shared democratic values and respect for the rule of law and promotes peace and stability in the Indo-Pacific, Prime Minister Narendra Modi said on Monday after holding wide-ranging talks with his Japanese counterpart Fumio Kishida.
Over the past few days, the Biden administration has been reaching out to its friends and allies to support it against Russian aggression in Ukraine.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
Superior general of the Missionaries of Charity, sister Mary Joseph, on Saturday said nuns of her order were serving the war-affected people in Kyiv, Ukraine.
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