TOP NEWS UPDATES

Taliban discusses humanitarian aid, trade with Chinese envoy in Kabul

Kabul [Afghanistan]: Taliban appointed foreign minister Amir Khan Motaqi on Saturday met the Chinese Ambassador to Kabul Wang Yu and discussed the issues of humanitarian aid, trade, and development in Afghanistan.“IEA Foreign Minister Mawlawi Amir Khan Muttaqi met Mr Wang Yu, Ambassador of PRC to Kabul this morning. The two sides discussed Afghan-China political relations, trade, humanitarian aid, development, and providing technical education to Afghan students,” said Afghan Foreign Ministry spokesman Abdul Qahar Balkhi in a tweet. He said that the meeting particularly focused on enhanced trade between Afghanistan and China.“Also, the two sides discussed increased export of pine nuts and routes to export Afghan products to China. To end, the Chinese side pledged further humanitarian aid in addition to what has already been provided,” he added.China, along with Pakistan were among the first countries that began engaging with Afghanistan after the Taliban takeover…

TOP NEWS UPDATES

China weaponised trade, difficult to see it as trusted partner, says Tony Abbott

New Delhi [India]: Highlighting that India has a unique opportunity to stay ahead in terms of trade, Australian Prime Minister’s Special Trade Envoy Tony Abbott on Friday said that China has weaponised trade and it is difficult to see Beijing as a trusted partner.During a virtual press conference in New Delhi, the Australian special trade envoy said that India has democracy, the rule of law and a good understanding of business. “As an Australian, we have seen the weaponisation of trade. Something like 20 billion dollars worth of Australian trade has been disrupted or suspended by China. It is very difficult to see China as a trusted partner,” Abbott said.“India is in a very very different situation, the democracy, the rule of law, a good understanding that business and governments are substantially independent of each other and that the sanctity of contract has to…

Business PSU

Taiwan and India explore partnership for Smart & Green India

New Delhi [India] : Taiwan External Trade Development Council (TAITRA) launched the Taiwan Product Centre (TPC) in India with the aim to support its business ties and expand its market presence in India.Apart from enabling business interaction with Indian companies, TPC has also scaled up its state-of-the-art products and technology offering across their Centres in Delhi, Chennai, and Mumbai. The pandemic-induced economic and social crisis has brought the two democracies, Taiwan and India closer through trade and economic ties. In fact, the trade relations between India and Taiwan have grown exponentially over the past five years majorly because both countries find close synergy to shift, transform and lead supply chains, be it ‘Make in India’ initiative, for Aatmanirbhar Bharat or the new south-bound policy in action for Taiwan. Taiwanese companies want to take advantage of this trade relation and business opportunities, for setting up…

National News Politics

Union Cabinet to take up withdrawal of three farm laws for approval

New Delhi [India] : Union Cabinet is likely to take up the withdrawal of the three Farm Laws for approval on November 24, the government sources said on Sunday.The Bills for withdrawal of the laws shall then be introduced in the forthcoming winter session of Parliament which is scheduled to commence from November 29. Prime Minister Narendra Modi, earlier on Friday, announced that the Centre will repeal the three farm laws and bring necessary bills in the winter session of Parliament beginning later this month.The Prime Minister had also announced that the government will constitute a committee to work on a new framework for Minimum Support Price (MSP).Farmers have been protesting against the government’s three farm laws since the Centre had passed the laws in 2020.The three farm laws are– The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act provides for setting up…

International US News

USIBC Chief says two nations need to set ambitious goal

Washington [US] : Terming top US trade official Katherine Tai’s upcoming visit to India as a “very important” one, President of the US-India Business Council (USIBC), Nisha Biswal said it is an agenda-setting visit to see how the two countries can align their ambitions and approach to trade. United States Trade Representative (USTR) Tai will travel to India on a two-day visit from November 22 for talks with her Indian counterpart commerce minister Piyush Goyal.Acknowledging that there is a gulf between US and India when it comes to trade policies, Biswal suggested that the two countries need to set an “ambitious goal” with respect to trade ties and a roadmap to get there.“It is very important to visit. It is ambassador Tai’s first visit to India as USTR. It is important that US and India set an ambitious goal from where we want to…

National News PMO Politics TOP NEWS UPDATES

Three farm laws to be rolled back, declares PM Modi

New Delhi [India] : In a major move, Prime Minister Narendra Modi on Friday announced the repealing of the three Central farm laws.In his address to the nation, PM Modi said, “Today I want to tell everyone that we have decided to repeal all three farm laws.” Farmers have been protesting the government’s three farm laws since had passed the Farmer’s Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020.The three farm laws are– The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act provides for setting up a mechanism allowing the farmers to sell their farm produces outside the Agriculture Produce Market Committees (APMCs). Any license-holder trader can buy the produce from the farmers at mutually agreed prices. This trade of farm produces will be free of mandi…

International US News

Trump administration was close to mini trade deal with India; but US domestic politics more complicated now, says trade body chief

Washington [US]: US-India Strategic Partnership Forum Chief Mukesh Aghi has said that the Trump administration was very close to the mini trade deal with India, but now the domestic politics in America is “much more complicated”.“With Trump administration, we were very close to the mini trade deal. I think to show some kind of success in early harvesting. It is important that India-US agree where it was left with the Trump administration to close that out to build the momentum itself. But the domestic politics in the US is now much more complicated,” Aghi told ANI on Wednesday (local time). Commenting further on the Biden administration, US-India Strategic Partnership Forum Chief said, “The progressive Left inserts labour rights, they talk about human rights, religious freedom, and I think if you start pushing those into a trade deal, you will not get a trade deal.”US…

International US News

Japan, US launches initiative to facilitate discussions on trade issues

Tokyo [Japan]: Amid China’s economic rise, Japan and the United States on Wednesday launched an initiative to facilitate regular discussions on trade issues.The first series of meeting under the US-Japan Partnership on Trade is expected early next year, with the initial areas of focus including “third country concerns” and cooperation in improving a rules-based economic order in the Indo-Pacific region, Kyodo News reported citing officials of the two countries. The announcement was made as Japanese Foreign Minister Yoshimasa Hayashi held a meeting with U.S. Trade Representative Katherine Tai, who is on her first visit to Japan since assuming her position in March.“Our close collaboration will support the Biden-Harris administration’s economic framework for the Indo-Pacific and help create sustainable, resilient, inclusive, and competitive trade policies that lift up our people and economies,” Tai said in a statement.In an apparent reference to China, Japan and the…

South Asian Countries

Pakistan, Taliban-led Afghanistan agree to establish joint trade commission

Kabul [Afghanistan] : Afghanistan and Pakistan have agreed to establish a high-level interstate commission that will deal with trade issues between the two countries, the Afghan Foreign Ministry said on Thursday.The decision was made at a meeting of Amir Khan Muttaqi, the acting Afghan foreign minister, appointed by the Taliban and his Pakistani counterpart, Shah Mahmood Qureshi, on Thursday. The commission is expected to be tasked with monitoring the implementation of a bilateral trade strategy, Sputnik reportedLast month, the Pakistani top diplomat said that the countries had agreed to simplify travel between the countries. At the meeting in question, Qureshi detailed Islamabad’s initiatives regarding Kabul, including free access to all Pakistani ports for Afghan traders, the free movement of heavy vehicles, resumption of the movement of passenger buses, and an increase in air traffic.During his meeting with acting Afghan Foreign Minister Amir Khan Muttaqi,…

City News Just In

Haryana: Farmers protest outside Narnaund police station

Hisar (Haryana) [India] : Farmers in Hisar district of Haryana have been protesting since Friday night against Bharatiya Janata Party MP Ram Chander Jangra outside Narnaund police station demanding an FIR to be lodged against him for allegedly attacking a farmer and injuring him.Local farmer leader Ravi Azad alleged that the BJP MP and his associates attacked a farmer, namely Kuldeep Rana, following which he sustained severe injuries. While protesting outside the police station, the farmers have demanded the police to register FIR against the BJP MP and his associates and also demanded their arrest. Moreover, the farmers are protesting for the withdrawal of cases against three protesting farmers.“Our demands are very clear. We want that a case to be registered against BJP MP Ram Chander Jangra and his accomplices, who attacked Kuldeep Rana. We also want them to be arrested. We also want…

South Asian Countries

India, Bhutan formalise seven entry-exit points for trade

New Delhi [India]: Indian and Bhutan on Wednesday formalised seven additional entry-exit points for trade, following a Commerce Secretary-level meeting on trade and transit issues in New Delhi.The Indian delegation was led by Department of Commerce Secretary BVR Subrahmanyam, and the Bhutanese delegation was led by Dasho Karma Tshering, Secretary, Bhutan Ministry of Economic Affairs, a statement from the Ministry of Commerce and Industry informed. The two sides held extensive discussions on the current trade and transit issues including measures to further strengthen bilateral trade relations and issues of mutual interest, on ways to increase trade connectivity between the two countries, the statement said.Through Letters of Exchange (LOE), the following seven additional entry/exit points for trade between India and Bhutan were formalized.“Nagarkata Land Customs Station without commodity restriction; Agartala Land Customs Station as an entry/exit point; Pandu port (Guwahati Steamerghat) as an entry /exit…

TOP NEWS UPDATES

PM Modi, Chancellor Merkel pledge to deepen trade and investment ties

Rome [Italy]: Prime Minister Narendra Modi on Sunday met the German Chancellor Angela Markel on the sidelines of the G20 Summit in Italy and both the leaders pledged to deepen trade and investment ties.According to a Ministry of External Affairs (MEA) statement, PM Modi also invited German Chancellor Angela to visit India. Recalling their longstanding cooperation and personal friendship, Prime Minister complimented Chancellor Merkel for her leadership in not just Germany but also at the European and global level.He committed to maintaining the close Strategic Partnership with Dr Merkel’s successor, said the statement.The two leaders expressed satisfaction at the close bilateral cooperation between India and Germany and pledged to deepen their trade and investment relations, MEA said, adding that they also agreed to expand the scope of the India-Germany Strategic Partnership to new areas, including Green Hydrogen.PM Modi on Sunday visited the Trevi Fountain…

International World Updates

India, Israel, US, UAE discuss joint infrastructure projects in maritime security, trade, tech

Tel Aviv [Israel] : In a first four-nations virtual meeting on Monday of India, Israel, the US and the UAE, the Foreign Minister’s discussed possible joint infrastructure projects in the fields of transportation, technology, maritime security, and trade.The meeting was held between External Affairs Minister, Dr S Jaishankar, Minister of Foreign Affairs of Israel, Yair Lapid, Foreign Minister of UAE, Abdullah bin Zayed Al Nahyan, and US Secretary of State, Antony Blinken. During the meeting, the four ministers held a discussion on possibilities for joint infrastructure projects in the fields of transportation, technology, maritime security, and economics and trade, as well as for additional joint projects, said the Israeli Ministry of Foreign Affairs.Israeli, Minister of Foreign Affairs Lapid initiated the meeting during his visit to Washington and said at the start of the meeting, “Around this virtual table – there is a unique set…

International US News

US Congressman introduces sanctions bill targeting China’s military, surveillance companies

Washington [US]: A US Congressman unveiled legislation on Wednesday to “target sanctions against Chinese Communist Party (CCP) military or surveillance companies”. Member of the House Foreign Affairs and Financial Services Committees, Republican Andy Barr, introduced the bill which requires President Joe Biden to sanction CCP military companies included on the US Department of Defence’s annual listing and other Chinese military and surveillance companies that pose a risk to US national security, according to a statement released by the office of Congressman Barr on Wednesday.The Chinese Military and Surveillance Company Sanction Act of 2021 protects US national security and limits western capital from fueling CCP military and surveillance companies, the statement added. The bill seems to target certain Chinese companies that have been listed by US authorities as posing a threat to national security. Office of Foreign Assets Control (OFAC) and Department of Defence have…

International TOP NEWS UPDATES World Updates

EU calls for reconsidering trade ties with Pakistan amid deteriorating human rights condition

Islamabad [Pakistan]: As Pakistan failed to make meaningful advances in protecting human rights in the country, the European Union has called for an immediate reassessment of the EU-Pakistan trade regime that was granted in January 2014.The trade regime allows products to come into the EU market from developing countries without import duties. As a result, Pakistan’s exports to the EU increased from Euro 4.538 billion to Euro 7.492 billion: an increase of 65 per cent, EU today reported. As per the reports, the EU is one of Pakistan’s most important trading partners with accounting for 14.3 per cent of Pakistan’s total trade in 2020 and absorbing 28 per cent of country’s exports, majorly in the textile and clothing sector.But the EU’s 3rd Biennial Assessment of GSP, published in 2020 showed that Islamabad has failed to improve the misery of human rights in the country.…

Business

Fair trade watchdog CCI slaps Rs 200 crore penalty on Maruti Suzuki

New Delhi, Aug 23: Fair trade watchdog Competition Commission of India (CCI) has imposed Rs 200 crore penalty on leading carmaker Maruti Suzuki India Ltd (MSIL) for restricting discounts by dealers. The CCI found that MSIL had an agreement with its dealers whereby the dealers were restrained from offering discounts to the customers beyond those prescribed by it. “The Competition Commission of India (CCI) passed a final order against Maruti Suzuki India Limited (MSIL) for indulging in anti-competitive conduct of Resale Price Maintenance (RPM) in the passenger vehicle segment by way of implementing Discount Control Policy vis-à-vis dealers, and accordingly, imposed a penalty of Rs 200 crore upon MSIL, besides passing a cease-and-desist order,” an official statement from Ministry of Corporate Affairs said Monday. As per the CCI order, MSIL had a ‘Discount Control Policy’ in place for its dealers whereby the dealers were…

Health & Lifestyle Travel

Will Singapore’s Vaccinated Travel Lane Help India-Singapore Trade To Recover?

Last week, the Singapore government presented its plan for relaxing safe distancing rules as well as gradually reopening the country to business travellers and tourists. This is in line with its earlier stated strategy to treat COVID-19 as an endemic disease and slowly easing its population into safely living with the virus. With a remarkably high rate of vaccination, Singapore is in the process of cautiously returning its residents lives to some form of normalcy. As of August 21, 78 percent of Singapore residents have received two doses of COVID-19 vaccines and it projects that this number will reach 82 precent in two weeks. Unlike most of its Asia-Pacific neighbours who are still embracing a “zero-COVID” strategy, Singapore which has no domestic market or natural resources sees this not only as a way to getting ahead of regional countries but also as a matter…

Business Markets

Sensex Surges Over 240 Points In Early Trade; Nifty Tops 15,770-Mark

Equity benchmark Sensex surged over 240 points in early trade on Monday, tracking gains in index majors ICICI Bank, TCS and Reliance Industries amid a firm trend in global markets. The 30-share BSE index was trading 241.95 points or 0.46 per cent higher at 52,628.14 in initial deals, while the broader NSE Nifty advanced 81.65 points or 0.52 per cent to 15,771.45. ICICI Bank was the top gainer in the Sensex pack, climbing nearly 2 per cent, followed by Maruti Suzuki, SBI, UltraTech Cement, IndusInd Bank and Tata Steel. TCS and Reliance Industries rose up to 0.56 per cent in early trade. On the other hand, Bajaj Finserv, HDFC Bank, Tech Mahindra and Hindustan Unilever were the laggards. In the previous session, Sensex ended 182.75 points or 0.35 per cent lower at 52,386.19. The NSE Nifty dropped 38.10 points or 0.24 per cent to…

National News

India, Georgia to strengthen ties

New Delhi, Jul 10: India and Georgia agreed on Saturday to explore the “great potential” their engagement in trade and investment holds and step up connectivity between the two countries. External Affairs Minister S Jaishankar discussed two-way ties with Prime Minister Irakli Garibashvili and Vice Premier and Foreign Minister David Zalkaliani in Tbilisi in which they noted the positive dynamics of Georgia-India bilateral relations in political, economic, cultural and educational spheres. “I am very confident that my visit, my discussions have helped to chart a more ambitious roadmap for the relationship.” said Jaishankar at a news conference after the talks. “We have very comprehensively discussed our bilateral cooperation and I think there is a lot which we can be satisfied with. There has been significant Indian investment here. There are 8000 Indian students who study in Georgia. There are more than 50000 Indian tourists…

Business Markets

Sensex Drops Over 300 Points In Early Trade; Nifty Tests 15,650

Equity benchmark Sensex tumbled over 300 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC twins and ICICI Bank amid a weak trend in global markets. After dropping 340 points in the opening session, the 30-share BSE index was trading 282.08 points or 0.054 per cent lower at 52,286.86 in initial deals, while the broader NSE Nifty dropped 77.75 points or 0.49 per cent to 15,650.15. Axis Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by IndusInd Bank, TCS, HDFC, ICICI Bank, Reliance Industries and Bajaj Auto. On the other hand, Tata Steel, Bajaj Finserv, Dr Reddy’s, Sun Pharma and Titan were among the gainers. In the previous session, Sensex ended 485.82 points or 0.92 per cent lower at 52,568.94, while Nifty dropped 151.75 points or 0.96 per cent to 15,727.90. Foreign…

Business Markets

Sensex Inched Higher By 55 Points In Early Trade; Nifty Tops 15,860-Mark

Equity benchmark Sensex inched higher by 55 points in early trade on Tuesday, tracking gains in index heavyweights HDFC twins, Bajaj Finance and Infosys amid sustained foreign fund outflows. The 30-share BSE index was trading 55.46 points or 0.10 percent higher at 52,935.46 in initial deals. Similarly, the broader NSE Nifty advanced 24.05 points or 0.15 percent to 15,858.40. UltraTech Cement was the top gainer in the Sensex pack, rising 0.69 percent, followed by HDFC Bank, Maruti, Tata Steel, Titan and Bajaj Auto, HDFC, M&M, L&T and Bajaj Finance. Infosys was up 0.06 percent in early deals. On the other hand, Sun Pharma, TCS, HUL, and Reliance Industries were among the laggards. In the previous session, the BSE Sensex closed 395.33 points or 0.75 percent higher at 52,880. Similarly, the broader NSE Nifty surged 112.15 points or 0.71 percent to 15,834.35. Foreign institutional investors (FIIs) remained…