In a move that may thaw the 34-year-old icy relationship between the United States and Iran, US President Barack Obama on Friday called his Iranian counterpart Hassan Rouhani and "exchanged pleasantries" in a 15-minute conversation.
In a rare move that might end the chronic impasse between arch-enemies the United States and Iran, President Barack Obama could meet his Iranian counterpart Hassan Rouhani on the sidelines of the United Nations General Assembly.
While the US-Iran conflict leading to a spike in global oil prices and trade war between the US and the EU topped the chart with 25 per cent, other major risks to the global economy include coronavirus, debt burdens causing a recess across emerging markets and Hong Kong protests causing an exodus from Asia's biggest financial centre.
A sharp decline in crude and strengthening of the rupee added to the buoyancy.
'While the US-Pakistan relationship has been stabilised, it's still mired in uncertainty.'
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
"We have many relationships...they have a history. We will do what is in our national interest and part of that strategic partnership is the ability of each country to comprehend and appreciate the national interest of the other," Jaishankar said.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
From February to mid-March, oil prices receded rapidly.
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