India, US to restart commercial dialogue, CEO forum later this year: Blinken
By Lalit K Jha WASHINGTON: India and the US are restarting their bilateral commercial dialogue and the CEO’s forum later this year to deepen their bilateral trade and investment relationship, US Secretary of State Antony Blinken has announced. Blinken made this announcement at a joint news conference with Defence Secretary Lloyd Austin along with their […]
USA says India is a bit shaky in terms of dealing with aggression of Russia
WASHINGTON: India is a bit shaky in terms of showing support against the Russian invasion of Ukraine, US President Joe Biden has said asserting that most American friends and allies have presented a united front in terms of dealing with Vladimir Putin’s “aggression”. On February 24, Russian forces launched military operations in Ukraine, three days […]
AIIB puts its projects in Russia, Belarus on hold due to Ukraine crisis
NEW DELHI: China-based Asian Infrastructure Investment Bank (AIIB) on Thursday put on hold all its projects in Russia and its ally Belarus, a significant move amid the heightening crisis in Ukraine. The bank’s decision was regarded as noteworthy considering that Russia is its third-largest shareholder. India is the second-largest shareholder after China. Former RBI Governor Urjit […]
Russia-Ukraine: What to know as Russia attacks Ukraine
By VANESSA GERA WARSAW,POLAND: Poland: Russia launched a full-scale invasion of Ukraine that opened with air and missile strikes on Ukrainian military facilities before troops and tanks rolled across the borders from the north, east and south. The Ukrainian military fought back on multiple fronts. President Volodymyr Zelenskyy said in a video address early Friday […]
Daleep Singh, a Indian-American economic advisor who is leading Joe Biden’s administration in executing sanctions on Russia
NEW DELHI: Indian-American economic advisor Daleep Singh is leading the efforts of the Biden administration to impose punitive sanctions on Russia over its actions against Ukraine. Russian President Vladimir Putin on Monday signed decrees to recognise Ukraine’s regions of Donetsk and Luhansk People’s Republics as independent, escalating the tension in the region and increasing fears […]
Microsoft to acquire Activision Blizzard
NEW DELHI: With three billion people actively playing games today, and fueled by a new generation steeped in the joys of interactive entertainment, gaming is now the largest and fastest-growing form of entertainment. Microsoft Corp. has announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition […]
World’s richest 500 lose $135 billion as Evergrande concerns spark market rout
By Tom Maloney & Blake Schmidt A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to […]
We want to maintain trade, political ties with India: Taliban leader
NEW DELHI: The Taliban wants to maintain Afghanistan’s trade, economic and political relations with India, senior leader of the outfit Sher Mohammad Abbas Stanekzai has said while describing it as an important country in the region. In a video address in Pashto, Stanekzai said consultations with various groups and political parties are going on to […]
Over $157 billion deployed in last 15 months to fight Covid-19 pandemic: World Bank
NEW DELHI: In its largest-ever crisis response, the World Bank has deployed over USD 157 billion to fight the impact of the COVID-19 pandemic on health, economic and social fronts over the last 15 months. This represents an increase of more than 60 per cent over the 15-month period prior to the pandemic, the bank […]
Ericsson signs $8.3 billion 5G deal with Verizon
NEW DELHI:Ericsson said that it has signed $8.3 billion agreement with Verizon to provide its industry-leading 5G solutions to accelerate the deployment of Verizon’s world-class next-generation 5G network in the U.S. Niklas Heuveldop, President and Head of Ericsson North America, says: “This is a significant strategic partnership for both companies and what we’re most excited […]
Joe Biden signs competition order targeting big business
By Aamer Madhani and Marcy Gordon WASHINGTON: President Joe Biden signed an executive order on Friday targeting what he labelled anticompetitive practices in tech, health care and other parts of the economy, declaring it would fortify an American ideal that true capitalism depends on fair and open competition.” The sweeping order includes 72 actions and […]
Thousands of Indian youth face deportation in US, seek White House’s help
WASHINGTON: A group of Indian youngsters from across America, facing imminent prospects of deportation, has met senior Biden administration officials at the White House and influential lawmakers, appealing them to “let us stay in the US”. There are 200,000 such young Americans, who have spent their entire childhood and teenage in the US, who are […]
China launches first bullet train in Tibet, close to Indian border
BEIJING: China on Friday operationalised its first fully electrified bullet train in the remote Himalayan region of Tibet, connecting the provincial capital Lhasa and Nyingchi, a strategically located Tibetan border town close to Arunachal Pradesh. The 435.5-km Lhasa-Nyingchi section of the Sichuan-Tibet Railway has been inaugurated ahead of the centenary celebrations of the ruling Communist […]
Amazon to buy MGM Studios for $8.45 billion
By JOSEPH PISANI NEW YORK: Online shopping giant Amazon is buying MGM, the movie and TV studio behind James Bond, “Legally Blonde” and “Shark Tank,” with the hopes of filling its video streaming service with more stuff to watch. Amazon is paying $8.45 billion for MGM, making it the company’s second-largest acquisition after it bought […]
Joe Biden seeks to appoint 20 American corporate leaders to US-India CEO Forum
WASHINGTON: The Biden administration has started the process of appointing 20 American corporate leaders to the US section of the US-India CEO Forum. Established in 2005, the US-India CEO Forum brings together leaders of the respective business communities of the two countries to discuss issues of mutual interest. The forum has US and Indian public […]
World to spend $157 billion on Covid-19 vaccines through 2025
By Sanjeeb Kumar NEW DELHI: Global spending on medicines — using invoice price levels — is expected to grow at 3-6 percent CAGR through 2025 to reach about $1.6 trillion by 2025, excluding spending of COVID-19 vaccines, according to a new research report The Global Spending and Usage of Medicines released by the IQVIA Institute […]