New Delhi, May 26 (IANS) Despite geo-political headwinds, India’s services sector remained resilient as exports grew 13.4 per cent year‑on‑year to $37.24 billion while imports fell marginally to $16.66 billion, a report said on Tuesday.The report from B2K Analytics said strong performance in the services sector helped offset a widening merchandise trade gap driven by higher energy costs.India’s overall trade deficit, including merchandise and services, narrowed to $7.8 billion during the…
Latest Gulf region News & Updates
Washington, May 25 (IANS) US Secretary of State Marco Rubio said the United States was prepared to enter “into very serious talks” about Iran’s nuclear program if Iran reopened the Strait of Hormuz, according to a report.The remarks suggested that Washington may take a phased approach and accept an interim agreement that did not immediately address Iran’s nuclear program, Xinhua reported quoting the New York Times’ report.”You can’t do a nuclear thing in 72 hours on the back of a napkin,” Rubio …
Thiruvananthapuram, May 23 (IANS) Claiming that timely intervention by the Narendra Modi government helped Kerala’s small business sector withstand global economic shocks, State BJP Pesident Rajeev Chandrasekhar said on Saturday that more than 5.5 lakh MSMEs in the state benefited from the Centre’s Emergency Credit Line Guarantee Scheme (ECLGS), with guaranteed credit support of more than Rs 8,405 crore extended to enterprises across the state. Chandrasekhar said the scheme played a crucial role…
New Delhi, May 19 (IANS) Opposition leaders on Tuesday strongly criticised the Centre over the recent increase in petrol and diesel prices, accusing the government of “looting” the public through repeated fuel price revisions amid a global surge in crude oil rates. The reactions came after state-run oil marketing companies revised fuel prices for the second time in less than a week, following a sharp rise in international crude oil prices triggered by escalating tensions in the Gulf region and c…
New Delhi, May 14 (IANS) Two India-bound vessels have safely crossed the Strait of Hormuz and are expected to arrive in the country in the next couple of days, the government announced on Thursday.SYMI, an LPG carrier and Marshall Islands-flagged vessel, carrying 19,965 MT of LPG cargo for India, with 21 foreign crew members onboard, safely crossed the Strait on May 13 and is expected to arrive at Kandla on May 16, the government said in its daily briefing.”NV SUNSHINE, an LPG carrier and Vietna…
New Delhi, May 14 (IANS) The Federation of Indian Export Organisations (FIEO) on Thursday welcomed the upcoming visit of Prime Minister Narendra Modi to the United Arab Emirates (UAE), the Netherlands, Sweden, Norway and Italy from May 15–20, saying that the visit will significantly strengthen India’s strategic economic engagement with key global partners and provide fresh momentum to trade, investment and technology collaborations during such challenging times. Reacting to the announcement, F…
New Delhi, May 14 (IANS) The Ministry of External Affairs (MEA) on Thursday strongly condemned the attack on an Indian-flagged cargo vessel off the coast of Oman, describing the incident as “unacceptable” and expressing concern over continued attacks on commercial shipping and civilian mariners in the region. According to reports, the Gujarat-owned cargo ship MSV Haji Ali sank after it was struck by what preliminary reports described as a drone or missile-like projectile on May 13 while sail…
New Delhi, May 4 (IANS) Indian banks are well positioned to implement the Reserve Bank of India’s new Expected Credit Loss (ECL) framework and absorb the initial impact on its capital, a report said on Monday.The report from CareEdge Ratings said that the sector’s strong Capital Adequacy Ratio of over 17 per cent and a Common Equity Tier I ratio exceeding 14.5 per cent, provide adequate room for the change.The ratings agency estimated that the impact of shifting to ECL models would be roughl…
New Delhi, May 2 (IANS) The government on Saturday said it has facilitated the safe repatriation of more than 2,922 Indian seafarers so far, including 30 in the last 24 hours from various locations across the Gulf region.The Ministry of Ports, Shipping and Waterways continues to coordinate with the Ministry of External Affairs, Indian Missions, and maritime stakeholders to ensure seafarer welfare and uninterrupted maritime operations.“All Indian seafarers in the region are safe, and no inciden…
Guwahati, April 30 (IANS) Former Minister of State (MoS) for External Affairs, M.J. Akbar, said on Thursday that the global order is undergoing significant changes, with traditional international institutions facing growing challenges in an increasingly uncertain and multipolar world. Delivering the keynote address at a national symposium on ‘West Asia in a Fragmented Global Order: Security Dynamics and Economic Implications’ organised by the Gauhati University, former MoS Akbar added that recen…