Author: Rati Verma

  According to persons familiar with the situation, China is considering buying or boosting holdings in Russian energy and commodities corporations such as gas giant Gazprom PJSC and aluminium manufacturer United Co. Rusal International PJSC. According to the persons, Beijing is in discussion with its state-owned corporations, including China National Petroleum Corp., China Petrochemical Corp., China Aluminum Corp., and China Minmetals Corp., about future spending in Russian companies or assets. Any agreement would be to boost China’s imports as it focuses more on energy and food security, rather than as a show of support for Russia’s invasion of Ukraine, according…

According to persons familiar with the situation, China is considering buying or boosting holdings in Russian energy and commodities corporations such as gas giant Gazprom PJSC and aluminium manufacturer United Co. Rusal International PJSC.  According to the persons, Beijing is in discussion with its state-owned corporations, including China National Petroleum Corp., China Petrochemical Corp., China Aluminum Corp., and China Minmetals Corp., about future spending in Russian companies or assets. Any agreement would be to boost China’s imports as it focuses more on energy and food security, rather than as a show of support for Russia’s invasion of Ukraine, according to…

China has set a GDP target that is the lowest it has been in decades. Premier Li Keqiang warned of a “grave and unclear” future on Saturday, citing the coronavirus, a property collapse, and concern over the Ukraine war as reasons. In his speech opening the annual session of China’s rubber-stamp parliament, Li stated an exceptionally low aim of roughly 5.5 per cent, the lowest since 1991. In Beijing’s cavernous Great Hall of the People, Li told roughly 3,000 members of the National People’s Congress (NPC) that the world’s second-largest economy “would face many more risks and obstacles, and we…

India is looking into various payment options to continue trading with Russia, including the one used to settle payments with Iran. Foreign banks with no operations in countries that have placed sanctions on Russia, as well as routing payments through Russian banks that are unfettered by the restrictions, are among the options being considered. To settle commerce with Iran, third-country banks were used. Sberbank and Gazprombank, two significant Russian banks, are now free from sanctions because they are the primary payment routes for EU gas and oil supplies from Russia. “This is something we’re looking into. Payments can be done…

Shane Warne, one of cricket’s all-time greats, died of a potential heart attack in Koh Samui, Thailand, while on vacation at the age of 52. Warne, who was designated one of Wisden’s Five Cricketers of the Century, had a 15-year career with Australia, claiming 708 Test wickets and winning the ODI World Cup in 1999. He died after a suspected heart attack, according to his manager Michael Cohen. “Despite the greatest efforts of medical staff, Shane was found lifeless in his villa and could not be resuscitate,” Cohen’s statement stated. “At this time, the family begs privacy and will share…

According to Ukraine ‘s emergency services, the Russian invasion of Ukraine has killed over 2,000 Ukrainian people and destroyed hundreds of infrastructures, including transportation facilities, hospitals, kindergartens, and houses. According to Reuters, Ukrainian President Volodymyr Zelenskyy stated that about 6,000 Russians were killed in the first six days of the battle. Meanwhile, according to the RIA news agency, Russian Foreign Minister Sergei Lavrov stated that if a third World War broke out, it would entail nuclear weapons and be devastating. Russia, which launched a “special military mission” against Ukraine last week, would face a “serious risk” if Kyiv obtained nuclear…

Ashneer Grover, the accused creator of financial startup BharatPe, has resigned as managing director and a director on the company’s board. Grover has found himself on the wrong side of the Board of Directors, important investors in the company, and his co-founders amid a quarrel within the corporation. “I write this with a heavy heart since I am being forced to leave a firm that I founded today.” With my head held high, I declare that this company is now a leader in the fintech industry. Grover wrote in his resignation letter, “Unfortunately, since the beginning of 2022, I’ve been…

After the US, the European Union, and its allies moved to isolate some Russian banks from the global financial markets platform, the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Indian banks will wait for orders from the government on whether to stop dealing with them, according to people familiar with the situation. According to a source acquainted with the situation, the government has not issued any explicit orders on stopping the banks. It will be business as usual until the government gives an order to the contrary. The official went on to say that the US and its allies’ sanctions…

According to a source familiar with the case, Reliance Industries is transferring over 30,000 Future Retail and Future Lifestyle personnel and taking over 200 Future Group outlets that are currently being rebranded as Reliance stores. According to the source, landlords began terminating lease agreements with Future Group in 2020, and some landlords approached Reliance Industries. The latter negotiated leases with Mukesh Ambani’s company subsequently subleased to Future Group. The insolvent retailer operates approximately 1,700 stores under numerous brands such as Big Bazaar, fbb, and Central. Future Retail reported in a stock exchange filing that it got termination notifications for many…

The CBI has detained Anand Subramanian, the former group operating officer of the National Stock Exchange, after broadening its three-year investigation into the exchange’s co-location scam in light of “new facts” revealed in a damning Sebi report, officials said on Friday. Late Thursday night, Subramanian was apprehended. He was interrogated in Chennai for days before the agency arrested him. The Securities and Exchange Board of India (Sebi) has charged former NSE CEO Chitra Ramakrishna and others with purported government errors in Subramanian’s selection as a chief strategy advisor and subsequent re-designation group operating officer and advisor to the MD. Sebi…