Sofia, May 26 (IANS) As India’s footprint in the Gulf continues to expand, particularly through the United Arab Emirates (UAE), the deepening partnership highlights growing strategic convergence in a region already under strain. The engagement with the UAE extends beyond trade, intersecting intra-Gulf Cooperation Council (GCC) tension, the evolving Gulf security architecture, and established regional partnerships, a report has highlighted.“When Indian Prime Minister Narendra Modi landed in A…
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New Delhi, May 23 (IANS) Agreements signed between India and the United Arab Emirates during Prime Minister Narendra Modi’s visits deepen strategic‑economic partnership across energy storage, long‑term fuel supplies, defence cooperation and artificial intelligence, a report has said. The report from India Narrative said the agreement builds India’s energy resilience, maritime security, digital ecosystems, and emerging artificial intelligence capabilities.It includes a $5 billion investment c…
New Delhi, May 21 (IANS) Prime Minister Narendra Modi’s multi-nation tour highlights India’s accelerating efforts to diversify energy sources, deepen strategic partnerships, and position itself as a key bridge between the Middle East and Europe in an increasingly fragmented global order, according to a news article. Prime Minister Modi’s recent visits to the Netherlands and Sweden constitute part of India’s wider European outreach, which included Norway and Italy, at a time of shifting alliances…
New Delhi, May 12 (IANS) Global crude oil prices are likely to remain in the low $100s per barrel mark for an extended period due to persistent supply disruptions and logistical bottlenecks linked to tensions in West Asia, according to a report by JPMorgan Chase & Co.According to the investment bank’s revised assessment, oil prices are expected to remain in the low-$100s range for most of the year, even if the Strait of Hormuz resumes normal operations in the coming weeks.According to the re…
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…
Mumbai, May 4 (IANS) Global crude oil prices declined almost 3 per cent on Monday after US President Donald Trump said Washington would take steps to help clear vessels stranded in the Strait of Hormuz, though the lack of a breakthrough in US-Iran talks kept prices above the $100-mark.International benchmark Brent crude slipped 66 cents or 0.61 per cent to $107.51 per barrel, while US West Texas Intermediate (WTI) fell $2.83 or 2.77 per cent to $99.11 a barrel.On the domestic front, crude oil fu…
New Delhi, May 3 (IANS) Amid the ongoing West Asia conflict, OPEC+ countries have agreed in principle to raise oil output targets in June.Multiple reports say that seven OPEC+ countries have agreed to raise oil output targets by about 188,000 barrels per day next month. The output hike would rather be largely symbolic until Strait of Hormuz reopens.This will be the third consecutive monthly increase amid the geopolitical crisis and the departure of the UAE from the group.With the UAE leaving, OP…
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…
New Delhi, April 30 (IANS) The UAE had been thinking of leaving the Organisation of Petroleum Exporting Countries (OPEC) cartel for the last five years as the oil quota allotted to the country by the Saudi Arabia-dominated group was not considered sufficient, according to Navdeep Singh Suri, India’s former Ambassador to the United Arab Emirates and Egypt. In an exclusive interview with IANS, Suri said: “There were indications as early as July 2021 that they were not happy with the quota…
Washington, April 30 (IANS) President Donald Trump said his administration plans to release additional information related to unidentified flying objects (UFOs), while also projecting confidence in the US economy and investment environment.“We’re going to be releasing a lot of things that we have… I think some of it’s going to be very interesting to people,” Trump told reporters when asked about UFO files.He noted long-standing public interest in the subject. “They want to find out a…