Category: WORLD

Industry choosing US over China, Japan to manufacture chips: Joe Biden

WASHINGTON: Global chips manufacturing industry is opting for the United States (US) over countries like China and Japan to set up their plants, President Joe Biden said as he announced two major investments by these companies here. China, Japan, South Korea, the European Union — all these places are investing tens of billions of dollars […]

Indian assistance not charitable donations in Sr Lanka crisis: Wickremesinghe

COLOMBO: Sri Lanka’s Prime Minister Ranil Wickremesinghe on Wednesday told Parliament that financial assistance provided by India are not “charitable donations” and the island nation facing severe economic crisis must have a plan to repay these loans. Sri Lanka has been facing the worst economic crisis since independence in 1948 which has prompted an acute […]

US announces 1.5-year extension for some expiring immigrant work permits

By Lalit K Jha WASHINGTON: The Biden administration has announced that certain categories of immigrants, including those seeking green cards and spouses of H-1B visa holders, would be permitted to use their expired work permits for an additional 18 months, offering a reprieve to thousands of Indians working in this country and prevent further disruption […]

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 […]

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 […]

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 […]

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