New Delhi, May 18 (IANS) India’s current account deficit (CAD) is likely to be about 2.1 per cent of GDP for FY27, assuming an oil average of $85 per barrel, a report said on Monday.The report from HDFC Bank said elevated crude and a closed Strait of Hormuz pose upside risks to forecast, adding that the recent gold import compression measures could provide some offset.The bank said that raising import duty to curb gold imports could trim the deficit, estimating a 20 per cent decline in gold vo…
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New Delhi, May 18 (IANS) Bitcoin slid to its weakest level in May on Monday over escalating macroeconomic concerns tied to the US‑Iran conflict, causing overall crypto market weakness.The world’s largest cryptocurrency dropped to $76,711 before it recovered some losses to trade at $76,985.11 as of 2.25 pm. Major digital assets such as Ether and Solana also traded lower.Nearly $500 million of long positions were liquidated within about 15 minutes during early Asian trading hours, according to…
New Delhi, May 18 (IANS) Commerce Minister Piyush Goyal said on Monday that India is targeting exports worth $2 trillion over the next five years, while pegging the overall exports target for FY27 at $1 trillion.India’s total exports of goods and services increased to an all-time high of $863 billion in FY26 despite the uncertainties in global markets triggered by the US tariff turmoil and geopolitical tensions.The minister said India continues to remain a bright spot amid global geopolitical an…
New Delhi, May 18 (IANS) Global crude oil prices extended gains on Monday as escalating tensions between the US and Iran fuelled concerns over supply disruptions after a nuclear facility in the United Arab Emirates was attacked.International oil benchmark Brent crude rose as much as 2.37 per cent or $2.60 to $111.86 per barrel.Meanwhile, US West Texas Intermediate (WTI) crude advanced 3.11 per cent, or $3.28, to $108.70 per barrel.In the domestic markets, crude oil futures (June 18) on Multi Com…
Abu Dhabi, May 17 (IANS) A fire was reported in the premises of the Barakah Nuclear Power Plant in the Al Dhafra Region of the United Arab Emirates (UAE) after a drone strike, local media reported on Sunday.”Authorities in Abu Dhabi responded to a fire incident that broke out in an electrical generator outside the inner perimeter of the Barakah Nuclear Power Plant in the Al Dhafra Region, caused by a drone strike,” the Abu Dhabi media office said on X.No injuries were reported, and there was no …
New Delhi, May 17 (IANS) The art of Indian diplomacy will be to keep the relationships with UAE, Isreal and Iran in conversation without pretending that they are identical, writes Sergio Restelli, a geopolitical expert, in The Times of Israel. He urged India to reassure the Gulf without closing the door to Iran and to deepen cooperation with Israel without losing room for manoeuvre in the Arab world.Restelli notes that Prime Minister Narendra Modi’s visit to the United Arab Emirates came at a …
New Delhi, May 17 (IANS) Bihar BJP State President Sanjay Saraogi on Sunday said that Prime Minister Narendra Modi’s foreign visits are focused on strengthening India’s global standing and speeding up its Viksit Bharat mission.Speaking to IANS, he said, “Prime Minister’s foreign visits are in national interest. To further strengthen the country and address issues like the energy crisis, he visited the UAE and appealed to investors to come and set up industries in India, saying the countr…
New Delhi, May 17 (IANS) Prime Minister Narendra Modi’s visit to the UAE amid the geopolitical and economic uncertainty in the wake of the West Asia conflict has sent a strong signal of stability and growth opportunities for businesses operating across the India-UAE corridor, according to a report in Dubai-headquartered Gulf News.The report cites Nikai Group chairman Paras Shahdadpuri as saying, “For the business community, this continued engagement between both nations sends a very positive…
Abu Dhabi, May 15 (IANS) Prime Minister Narendra Modi held a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi on Friday, with the discussions centred on enhancing bilateral relations, particularly in the sectors of energy, trade and investment, the blue economy, technology, including fintech, defence, and fostering people-to-people connections. The two leaders also discussed the developments in West Asia and other global issues.In a post on X, Ministry of External Affai…
Abu Dhabi, May 15 (IANS) Emphasising that the India-UAE friendship remains “very strong”, Prime Minister Narendra Modi on Friday said that both countries would continue to work together to build a better future for the planet. “The friendship between India and UAE is very strong! Our nations will keep working together with the aim of building a better future for our planet,” PM Modi stated after holding “wide-ranging and productive” talks with the UAE President Sheikh Mohamed bin Zayed Al Nahyan…