FOREIGN PORT PROJECT
MV San Fernando docks at Vizhinjam: A turning point for India's maritime ambitions
Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), which is developing the port, emphasized the significance of the event. "This is not just a ship arriving at a port," Adani said. "It's a symbol of India's growing role in global trade. Vizhinjam is now operational, and it's ready to transform India into a major player in transshipment."
As violence surges, can Pakistan protect its Chinese projects?
Security measures in Pakistan are being ramped up to protect Chinese workers amidst rising militant violence targeting Chinese-funded projects. Recent attacks have led to casualties and raised concerns about the security of investments. The situation has prompted discussions on balancing security priorities.
M&M, bank stocks halt D-Street's record run! Sensex tanks 800 points, Nifty below 24,200
Indian indices hit highs due to Maruti Suzuki but fell after Powell's US Congress remarks, affecting M&M, Axis, and HDFC Bank. Nifty Bank fell; crude oil prices impacted. FIIs bought Rs 314 crore in equities. Delta Corp dropped; RVNL rose. SIP inflows and Asian markets offered a broader context.
The train from Russia: How a new route can change things for India
A multimodal route that includes a railway, roadway network and seaports, the INSTC spans 7,200km (4,500 miles) from St. Petersburg to the port of Mumbai in India. The corridor is part of Russia’s push to find new transport routes in light of Western sanctions, which have forced it to shift trade flows from Europe to Asia and the Middle East.
India shows interest in mega Teesta river conservation project
A major focus of the talks between the two prime ministers was to explore ways to shore up India-Bangladesh cooperation in digital and energy connectivity even as both sides resolved to work towards peaceful management of borders between the two countries.
Italy will kick off foreign policy engagements for PM Narendra Modi in his third term
The Summit will also provide Modi a platform to elaborate on global issues of pertinence which were the focus of the successful Indian Presidency of the G-20.
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Answer to India’s critical minerals requirement lie in India’s extended neighbourhood
India is exploring critical minerals in Latin America for EVs, but a solution may be closer in Kazakhstan. The country has reserves of critical minerals that can support India's clean energy goals.
Adani to invest over $1 bn in Sri Lankan wind projects
Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka through Adani Green Energy Ltd. The projects include two wind farms in Sri Lanka's Mannar town and Pooneryn village with a total capacity of 484 megawatts.
Top 10 stock losers in Asia are all from India on tight election
A BSE Ltd gauge of state-run stocks dropped by as much as 20%. Shares of Adani Enterprises Ltd. and Adani Ports & Special Economic Zone Ltd. slumped more than 20%.
Adani surge helps indices break losing streak on eve of exit polls
Adani Group stocks surged up to 9% after brokerage Jefferies recommended buying shares of four companies within the conglomerate in Mumbai.
Of more import than just a port
If seen without ideological baggage, the development of Chabahar on Iran's coast as a trading hub is a net positive not only for India and Iran but also for Afghanistan and landlocked Central Asian countries. More trade means more stability as governments develop stakes, and Chabahar - meaning 'four springs' in Farsi - lives up to its name.
President Raisi's sudden death to test Iran with West Asia already in turmoil
Mohammed Mokhber, Raisi's deputy, was expeditiously appointed as the interim President, with the next president being elected within the next 50 days. Until the presidential transition, the country's multilayered polity would remain preoccupied. For many years, the hardliners have had a firm grip on all three political pillars of the state, viz. presidency, legislative and theocracy.
Reach Europe 20 days earlier and for 30% cheaper: How Chabahar port helps India expand its trade footprints globally
India’s pact with Iran to develop the Chabahar port will give a boost to the multimodal transportation network called the International North-South Transport Corridor, enabling exports from South Asia to reach Europe and Russia.
US shows understanding of Chabahar Port operations importance: India
The United States has shown an understanding of the importance of the Chabahar Port operations for continued humanitarian supplies to Afghanistan and to provide Afghanistan with economic alternatives, the Ministry of External Affairs said on Friday, reminding Washington of its own position on the project.
View: Chabahar, port of a smart call
Investing in Chabahar presents its own set of obstacles. The progress in the region has been hindered by US sanctions over the years. Since 2018, India has refrained from importing significant amounts of heavy Iranian crude and faced challenges in providing financial aid for the construction of the Chabahar-Zahedan railway in 2020 due to sanctions. Energy trade has long been the cornerstone of India-Iran relations, and this shift has temporarily strained bilateral ties.
"For everyone's benefit, don't think people should take a narrow view of it": EAM Jaishankar responds to US' sanction warning on Chabahar Port deal
Chabahar Port Deal: EAM S Jaishankar stresses regional benefits of India-Iran Chabahar Port deal despite US sanctions warning at his book launch "Why Bharat Matters" in Kolkata. US State Department's Vedant Patel warns of potential sanctions for deals with Tehran. India has signed Long-Term Bilateral Agreement with Iran for Shahid-Behesti port operation.
Myanmar in talks with Russia to build deepsea port & oil refinery upsetting Chinese
The Myanmar junta is keen for Russians to invest in the port project along with a special economic zone including an oil refinery, ET has learnt.
China, Pakistan discuss realignment of Karakoram Highway, speed up CPEC projects
China-Pakistan discussed CPEC projects, Gwadar Port, and KKH realignment. They addressed ML-I upgradation, Dasu Hydropower Project, and security concerns in the region.
Chabahar Port deal with Iran sparks sanctions warning for India from its 'good friend' US
India and Iran signed a 10-year agreement to manage the Chabahar Port, enhancing regional connectivity and providing an alternative to China's Belt and Road Initiative. The US warned of potential sanctions for dealing with Tehran, but stated it would let India address its foreign policy objectives. The deal strengthens bilateral relations and facilitates trade with Afghanistan and Central Asia, with plans to integrate the port into the International North South Transport Corridor. India's investment in Chabahar's infrastructure aims to improve trade routes and access to Central Asian markets.
India signs deal with Iran to run Chabahar port
At the end of the 10-year period, both sides will extend their cooperation in Chabahar. IPGL will invest about $120 million in equipping the port, officials said. India has also offered a rupee credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure, they said.
India expects long-term arrangement with Iran on Chabahar port: Foreign Minister S Jaishankar
India is poised to establish a "long-term arrangement" with Iran regarding the management of the Chabahar port, according to External Affairs Minister S. Jaishankar. This move, occurring amidst a busy election season, is seen as a significant geopolitical initiative aimed at enhancing regional connectivity. The port development in Chabahar is crucial for India's plans to facilitate trade with Afghanistan and Central Asian countries while bypassing Pakistan's ports.
Adani Group's Vizhinjam Port gets ministry nod to run India's first transshipment operations
Adani Group's Vizhinjam Port in Kerala has received approval to operate as India's first transshipment port, facilitating the transfer of cargo between ships. The shipping ministry's nod allows customs to establish an office at the port. The project, started in 2015, aims to tap into India's transshipment cargo, which is currently handled by foreign ports like Colombo. Vizhinjam Port's advanced infrastructure can handle large vessels, with an initial capacity of one million twenty-foot equivalent units (TEUs), set to expand in subsequent phases.
China reaffirms financial support for Sri Lanka
China has said it would continue to support Sri Lanka, as the crisis-hit island nation's prime minister on Saturday wrapped up a visit to Beijing to try to finalise a debt restructuring deal. China had agreed "in principle" to restructure Sri Lanka's debt in December, but neither Colombo nor Beijing had given details and the two are yet to finalise an agreement.
Did Adani bribe officials to get energy projects cleared? JPMorgan says highly unlikely
US prosecutors are investigating potential bribery by the Adani Group for energy projects, but JP Morgan believes corruption is unlikely due to transparency in Indian tenders. Adani Group denies the investigations, while stock prices remain impacted.
SAEL set to close $1 billion fundraise from foreign, domestic investors
SAEL Ltd, a company converting agricultural waste into energy, is reportedly in the final stages of securing a $1 billion fundraise from US and European investors. The US International Development Finance Corporation (DFC) and Norfund, a Norwegian government-owned fund, are expected to participate.
EAM S Jaishankar, Iran President Raisi discuss pacing up Iran-India agreements, compensating for delays
EAM Jaishankar and Iran President Raisi discussed implementing Iran-India agreements, including Chabahar Port Development Plan. They aim to compensate for delays and establish a comprehensive cooperation agreement. Raisi emphasized deep-rooted relations and the need to enhance relations in various sectors. They also discussed combating terrorism, stability in Afghanistan, international trade, and security of shipping.
Jaishankar raises issue of Houthi Attacks with Iran FM
Jaishankar and Hossein Amir-Abdollahain also discussed the deteriorating Gaza situation and other regional developments. The Red Sea is critical for Indian commerce via the maritime route to Europe.
Jaishankar meets Iranian counterpart; discusses framework for India's involvement with Chabahar, North-South connectivity and Red Sea crisis
"Our bilateral discussion focused on the long term framework for India's involvement with Chabahar port and the INSTC connectivity project," Jaishankar said in a post on X after his meeting with the Iranian counterpart. The two sides reviewed all aspects of the bilateral engagement comprehensively and exchanged thoughts on some pressing global and regional issues, he said.
Iran says final agreement reached with India on Chabahar Port: Report
India and Iran have reached a final agreement on India's first foreign port project, Chabahar Port. The new long-term agreement will replace the original contract, valid for ten years and automatically extended. External Affairs Minister S Jaishankar is on a two-day visit to Iran, discussing establishing a long-term cooperation framework and views on the International North-South Transport Corridor.
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