World has entered recession due to COVID-19, says IMF
The key to recovery in 2021, the IMF said, is only if the international community succeeds in containing the coronavirus everywhere and prevent liquidity problems from becoming a solvency issue.
Trade & Economy
Amid talks with Reliance, Saudi Aramco says focusing investments in high-growth Indian market
The world’s biggest oil exporter Saudi Aramco has said it is focusing its downstream investments in high-growth nations such as India as it negotiates a deal to buy up to 20 per cent stake in Reliance Industries’ USD 75 billion oil-to-chemical business.
Petrol price falls below Rs 71; India to gain from Saudi, Russia price war
In Delhi, petrol prices dropped to Rs 70.59 a litre, the lowest since early July 2019, and diesel rate were cut to Rs 63.26, according to a price notification of state-owned firms.
India’s forex reserves jump to lifetime high of USD 481.54 billion
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves rose by USD 1.02 million to USD 30.38 billion.
MNCs turning away from China to India: TCPI
In the wake of trade protectionist measures and rising risks because of coronavirus, a number
Deadly Delhi riots have investors rethinking India’s future
Rising religious tensions may make it easier for investors to turn their backs on India as the economy stutters, according to Simon Chauchard, Assistant Professor of Political Science at Leiden University.
US surpasses China to become India’s top trading partner
Bilateral trade stood at nearly 88 billion dollars in 2018-19 fiscal
Trump Says U.S.-India to Sign $3 Billion in Defense Deals
Last week, India’s cabinet cleared $2.6 billion purchase from Lockheed Martin Corp. of 24 multi-role MH-60R Seahawk maritime helicopters to Indian navy.
UAE tops as most popular destination for Indians
With big publicity campaigns under way for Expo 2020 Dubai, the expectation here is that the number of Indians visiting the UAE this year and the next will reach record levels.
Middle East’s $2 trillion wealth could be gone by 2034: IMF
Saudi Arabia, the U.A.E. and Kuwait are the biggest producers in the GCC and are all OPEC members. Risks differ for the GCC states, which also include Qatar, Oman and Bahrain.