ECONOMIC PARTNERSHIP AGREEMENT
South Korea's Lee Jae-myung in India for talks on shipping, AI
South Korean President Lee Jae-myung received a red-carpet welcome in New Delhi for talks with Prime Minister Narendra Modi. Discussions focused on shipbuilding, AI, semiconductors, and critical technologies, aiming to strengthen their strategic partnership amidst global economic instability. Both leaders also addressed regional peace and bolstering their economic cooperation.
South Korea's Lee to seek big boost in economic ties in summit with PM Modi
South Korean President Lee Jae Myung is in New Delhi for talks with Indian Prime Minister Narendra Modi. The visit aims to significantly increase economic ties, focusing on shipbuilding. Both nations plan to nearly double bilateral trade to $50 billion by 2030. Cooperation may also expand into finance, artificial intelligence, and defense. India's role in global production is highlighted.
JSW Steel and POSCO form joint venture for steel plant in Odisha amid South Korean President's India visit
JSW Steel and South Korea's POSCO Group are partnering to build a new steel plant in Odisha. This joint venture will have a production capacity of 6 million tonnes per annum. The deal signifies deepening strategic ties between the two major steel producers. This collaboration aligns with JSW Steel's expansion goals.
India-Sri Lanka oil pipeline discussed during VP Radhakrishnan's meeting with Dissanayake: Foreign Secretary Vikram Misri
India and Sri Lanka initiated conversations about a new oil pipeline, aiming to enhance energy cooperation. They also delved into topics like advancing bilateral relations, collaborative housing developments, and the challenges faced by fishermen. This visit underscored India's commitment to its 'Neighbourhood First' policy, emphasizing its proactive role in regional issues.
As Iran war strains ties with Trump's US, UK looks to Europe
Britain's government is set to announce legislation next month to move the country closer to the European Union, as the Iran war sours the UK's so-called special relationship with the United States. "When the relationship with the United States is fracturing, it means there's reduced opposition to a closer relationship with the EU among the public," said Aspinall. pdh/jkb/rmb/jhb
Austria bets big on Indian talent with Focus India partnership
Austrian and Indian relations are reaching new heights, fueled by a recent visit from Austria's Federal Chancellor, emphasising the evolution of their academic partnership. Already, 200 Indian students have commenced their studies in Austria, marking a milestone following the establishment of a migration agreement and collaborative economic efforts.
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Pakistan, Saudi Arabia, Turkey, Egypt FMs meet in Antalya
Foreign Ministers from Pakistan, Saudi Arabia, Turkiye, and Egypt met in Antalya. They discussed strengthening cooperation in areas of mutual interest. The ministers also exchanged views on regional dynamics. Dialogue and diplomacy were reaffirmed for peace and stability. This meeting follows previous talks between the four nations.
India explores FTA full use with Norway, sets up fast-track investment system with Austria
India and Norway are enhancing cooperation in energy, maritime, and biotech sectors. Norway sees growing investment interest in India. Meanwhile, India and Austria have launched a Fast-Track Mechanism to facilitate investments and resolve issues. This initiative aims to expand bilateral trade and leverage industrial complementarities. Both nations are prioritizing sustainable development and green technologies for future collaboration.
Piyush Goyal engages with South Korean, Austrian leadership to deepen economic ties
Union Minister of Commerce and Industry, Piyush Goyal, advanced India's trade agenda through a series of diplomatic engagements on Thursday, holding a virtual meeting with South Korean Trade Minister Yeo Han-koo and an in-person session with Austrian Federal Chancellor Christian Stocker. The meetings, focused on bilateral investment and technological synergy, resulted in the signing of a new mechanism aimed at accelerating business resolutions between India and Austria.
Unbelievable 600% rally in one day! Allbirds shares skyrocket as sneaker-maker plans AI pivot
Allbirds shares skyrocketed nearly 600% in a single session after the footwear brand unveiled a dramatic pivot to AI compute infrastructure, rebranding as NewBird AI and securing a $50 million financing facility to buy GPUs. The move marks a complete shift from its sustainable sneaker roots to the booming AI ecosystem.
Sebi, DoT join forces to curb market frauds via real-time data sharing platform
Securities and Exchange Board of India and Department of Telecommunications signed an MoU to share real-time intelligence via Digital Intelligence Platform, enhancing fraud detection, telecom monitoring, and investor protection across India’s rapidly growing digital securities market ecosystem.
India–US eye 'big-ticket energy deals' soon as PM Modi, Donald Trump discuss West Asia crisis
India and the US are expected to firm up major deals, including in energy, in the coming weeks, even as PM Narendra Modi and US President Donald Trump discussed the West Asia situation and deepened strategic ties.
GE Aerospace, HAL inching closer to seal jet engine deal
GE Aerospace and Hindustan Aeronautics Limited have made significant progress toward a deal to co-produce F414 jet engines in India for future combat aircraft. The two sides have reached agreement on key technical aspects, marking a major step in advancing the long-pending collaboration and strengthening defence and industrial cooperation between India and the United States.
Gulf storm: India should be evaluated as a strategic locational hedge for co-sharing GCC data centre infra
Recent attacks on cloud data centers in West Asia highlight a new geopolitical risk. Hyperscale providers are now reassessing their global infrastructure. India offers a secure and stable environment for data center expansion. Its robust policies and existing ties with the Gulf region make it a natural strategic partner.
India-France review cooperation on economic security during talks in Paris
India and France held Foreign Office Consultations in Paris. Discussions covered economic security, innovation, and STEM talent. Defence, nuclear energy, space, and cyber cooperation were reviewed. Global issues like climate change and the Indo-Pacific were also discussed. Foreign Secretary Vikram Misri met French officials. He also visited the Swami Vivekananda Cultural Centre. This follows President Macron's India visit.
India, Oman discuss ways to boost trade, investments
India's Commerce Minister Piyush Goyal met with Oman's Minister of Commerce, Industry and Investment Promotion. They discussed ways to enhance trade and investment ties. This follows recent discussions with other Gulf nations. The India-Oman Comprehensive Economic Partnership Agreement aims to boost mutual growth.
Big boost to IAF: GE Aerospace, HAL seal technical pact on jet engines
India and the US have reached a significant agreement on coproduction of fighter jet engines. GE Aerospace and Hindustan Aeronautics Ltd have concluded technical discussions for F414 engines. This paves the way for a contract later this year. The deal will boost the Indian Air Force's fleet strength. It also includes technology transfer for advanced engines.
Dubai links property and residency services under single system
Dubai has unified real estate and residency services into a single system to streamline processes for residents and investors. This integration, a collaboration between the General Directorate of Identity and Foreigners Affairs and the Dubai Land Department, aims to reduce processing times and enhance coordination.
Iran war diverts US military and attention from Asia ahead of Trump's summit with China's leader
Fifteen years after a pivot to Asia was declared, the U.S. remains entangled in Middle East conflicts, diverting military assets and attention from China's growing influence. This distraction raises concerns about regional stability and the ability to counter Beijing's ambitions, particularly regarding Taiwan. The ongoing demands of Middle East engagements are impacting U.S.
Use of artificial intelligence in arbitration should be regulated, not shunned: CJI Surya Kant
Chief Justice of India Surya Kant stated artificial intelligence in arbitration needs regulation, not avoidance. He stressed cybersecurity and confidentiality protocols must advance. Technology can be a powerful ally for arbitration. He also cautioned against excessive judicial intervention in arbitral matters. India is modernizing its arbitration framework to attract investment and ensure commercial stability.
India finalising agreement to supply oil, gas to Mauritius amid West Asia crisis, says EAM Jaishankar
India is set to finalize a government-to-government agreement to supply oil and gas to Mauritius. This move aims to strengthen Mauritius' energy security, especially given the ongoing West Asia conflict. India is also supporting Mauritius with clean energy projects, including a floating solar power plant. The two nations are deepening their strategic partnership across various sectors.
Stocks in news: RIL, TCS, IDFC First Bank, BPCL, SpiceJet
Indian equity markets saw profit booking on April 9, ending a five-day rally. Several companies like RIL, TCS, and IDFC First Bank are in focus due to news and Q4 results. Granules India faces US regulator scrutiny, while SpiceJet is ordered to pay $8 million to an engine lessor.
India withdraws bid to host UN Climate Summit COP33 in 2028
India has withdrawn its offer to host the United Nations climate summit COP33 in 2028. The decision was conveyed to the Asia-Pacific regional group chair. Prime Minister Narendra Modi had proposed hosting the summit in 2028. South Korea has also expressed interest in hosting.
Hilton announces strategic agreement with Royal Orchid Hotels for 125 New Hampton by Hilton Hotels
Royal Orchid Hotels and Hilton are embarking on a partnership, planning the launch of 125 Hampton by Hilton hotels across India. Targeting the burgeoning mid-market segment, these hotels will predominantly come up in the western and southern parts of the country.
Significance of India-Egypt strategic partnership in stabilizing volatile region
India and Egypt are deepening their strategic partnership. This collaboration is crucial for regional stability amidst ongoing conflicts. Both nations share significant diaspora, energy needs, and business interests in the Gulf. Recent agreements have elevated their ties. Defense cooperation is expanding, with joint initiatives and military exchanges.
'Chabahar port work to expand even more rapidly after war ends': Iranian envoy to India
Iran's ambassador to India, Mohammad Fathali, states economic ties with India will remain stable during conflict and grow later. He highlighted the Chabahar Port's strategic role in strengthening trade and transit links. India's involvement in the port project, dating back to 2003, continues with renewed commitment. The project aims to connect Central Asia to open waters, bypassing Pakistan.
Wipro shares gain 3% after bagging Olam deal worth more than $1 billion
Wipro Limited share price surged 3% following a significant deal with Olam Group. This multi-year strategic transformation contract is valued at over one billion dollars. Wipro will also acquire Olam's IT division, Mindsprint. The partnership aims to enhance Olam's operations across its entire value chain. This engagement marks a major expansion for Wipro in the food and agri-business sector.
China warning for Donald Trump: Beijing unleashes dragon tactics against U.S. capitalizing Iran war
China views U.S. military bases in the Gulf and the Middle East as instruments of hegemony and monitors their impact on energy security.
Lalitpur Pharma Park gets export push as UPSIDA, JNPA sign pact
Uttar Pradesh State Industrial Development Authority and Jawaharlal Nehru Port Authority have partnered. This agreement aims to make the Lalitpur Pharma Park a global export hub. The collaboration will connect northern India's industrial regions to international markets. This strategic move will boost pharmaceutical exports and imports. It will also enhance logistics for manufacturers.
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