Russian President Vladimir Putin criticised Western sanctions ahead of his four-day visit to China, warning that trade restrictions and the costs of the Ukraine war have pushed Russia’s economy into recession, as reported by Reuters. In a written interview with China’s Xinhua news agency on Saturday, Putin said Russia and China were united in rejecting…
US President Donald Trump (Pic credit: AP) The US federal court’s ruling over the tariff, calling it “illegal”, came as a major setback for President Donald Trump. The court said that the Republican leader overstepped his authority when he declared trade deficits and border issues as “national emergencies” to justify sweeping tariffs he imposed on…
ONGC group refineries will continue purchasing Russian oil as long as it is financially viable, chairman Arun Kumar Singh said on Friday. “As long as it’s economical, we will keep buying every drop (of Russian oil) that comes to the market,” Singh told reporters, as quoted by Economic Times. Its subsidiaries Mangalore Refinery and Petrochemicals…
China’s trade representative Li Chenggang conducted meetings in the United States, between August 27-29, engaging with US officials regarding economic and trade relationships between the two nations, according to the Chinese commerce ministry on Saturday, quoted by Reuters.During his visit, Li conducted meetings with officials from the US department of the treasury, department of commerce,…
New Delhi: ONGC Videsh’s $350 million dividend from Vankor field remains stuck in Russia due to banking curbs as a result of Western sanctions on Moscow, even as ONGC chairman Arun Kumar Singh said the group’s refineries will continue to buy Russian oil. OVL MD Rajarshi Gupta expected a resolution of the ‘blockage’, which has…
New Delhi: In a surprise move, Urjit Patel, who had resigned as Reserve Bank of India (RBI) governor following differences with govt, has now been appointed as executive director at the International Monetary Fund (IMF) for a period of three years. The Appointments Committee of the Cabinet approved the appointment of Patel, who served as…
Bank holidays in India can be cause of confusion, especially when it comes to Saturday operations. According to the Reserve Bank of India (RBI) guidelines, banks operate on first, third and fifth Saturdays, while remaining closed on second and fourth Saturdays each month.Besides Saturday closures, banks observe national and regional holidays. It’s worth noting that…
Mumbai: The rupee on Friday breached the 88-mark for the first time, hitting a record intra-day low of 88.31 against the dollar before recovering slightly to close at 88.20. The currency ended 57 paise weaker than its previous close of 87.63 – its sharpest one-day fall in three months. Dealers said the losses would have…
US President Donald Trump (Pic credit: AP) US President Donald Trump on Friday said that he would “fight back” after a US federal court in a significant ruling found his global tariffs “illegal.” The US court of appeals for the federal circuit in Washington ruled that many of Trump’s tariffs were illegal; however, it allowed…
Spirit Airlines to file for bankruptcy (Representative image) US Budget airline Spirit Airlines announced on Friday that has filed file for bankruptcy again within a year, but will maintain normal operations, ticket sales and flights.Following its initial bankruptcy filing in November, Spirit had completed a debt restructuring agreement with creditors in March, reducing its liabilities…
