INVESTMENT MILITARY ENERGY TIES
Germany stops planned sale of Volkswagen's gas turbine business to China
Germany's cabinet blocked the sale of MAN Energy Solutions' gas turbine business to a Chinese company for security reasons amid EU-China trade tensions. Concerns over national security implications led to the decision, with fears that China could use the turbines for military purposes. Both Germany and the EU aim to reduce risks from economic ties with Beijing. China opposes the politicization of business cooperation and hopes for a fair business environment.
We expect policy stability, renewable energy investment from Budget 2024: Sharad Mahendra, JSW Energy
With these PPAs signing, the percentage of open capacity once these capacities get commissioned in a span of 18 to 24 months, ultimately the merchant portfolio will be even lower than 15% going forward. So, more of long-term PPAs will be there.
Relationship between India, US 'multiplicative': US envoy Garcetti
"This (India-US) is a relationship that isn't just additive. It's not just the US plus India. It's multiplicative. It's the United States times India," Garcetti said at the meeting held in the suburbs of Washington on Monday.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
Moscow expects to sign new co-operation pact with Iran in 'very near future', RIA reports
Deputy Russian Foreign Minister Andrei Rudenko stated that a new comprehensive cooperation agreement with Iran is close to completion and expected to be signed shortly. The agreement aims to replace a 20-year strategic pact signed in 2001, focusing on security, energy, industry, and technology. Details of the new agreement remain undisclosed, but the two countries have strengthened ties, particularly in investment, military, and energy sectors, following Russia's invasion of Ukraine and subsequent sanctions.
India boosts defense ties with Bangladesh as it tries to become a counterweight to China
India and Bangladesh strengthened defense ties, signing agreements to enhance cooperation in maritime security, ocean economy, space, and telecommunication sectors. Prime Minister Narendra Modi welcomed Bangladesh's inclusion in the Indo-Pacific Oceans Initiative, underscoring India's commitment to regional collaboration. Amidst close ties with China, Bangladesh seeks to balance relationships with India and the US. Both countries aim to boost river water sharing, energy cooperation, and infrastructure development through Indian investments. Bilateral trade between India and Bangladesh reached $15.9 billion in the financial year 2022-23, with India exporting cotton, vehicles, and electronics, and importing cereals and cement.
Sri Lanka survived two tough years of economic crisis; possibly because of India's support: President Wickremesinghe
Sri Lanka's President Ranil Wickremesinghe expressed gratitude for India's financial support of USD 3.5 billion, helping the country survive an economic crisis. Wickremesinghe emphasised a strong partnership with India, focusing on sustainable energy projects and infrastructure development. Sri Lanka recently declared its first-ever sovereign default, but is working on debt restructuring with international organisations. Wickremesinghe is optimistic about the country's economic recovery.
India says peace at Chinese border key as direct flights remain stalled
India's foreign ministry has emphasized the importance of peace on its border with China for normal relations. The country has been pressuring India to restart direct passenger flights with China, but New Delhi is resisting due to the ongoing border dispute. The tense relationship between India and China has been strained since the largest military confrontation in decades on their disputed Himalayan border in June 2020.
Russia boosts oil revenues as shipping and trading network grows
Russian oil exporters are selling oil to India at higher prices than at any time since the start of the Ukraine war, as more shippers and traders participate in the trade, weakening the impact of Western sanctions. The exporters have had to offer deep discounts to encourage shipping companies to move their crude since the invasion of Ukraine. Despite this, deals struck this month for Urals oil delivery to Indian refiners are at discounts of $3 to $3.50 per barrel to the global Brent crude benchmark, the narrowest since 2023.
Third term for Modi likely to see closer defense ties with US as India's rivalry with China grows
Prime Minister Narendra Modi emphasizes on boosting India's military preparedness and clout, focusing on expanding defense production and exports to counter China's influence in the Indo-Pacific region.
US Pentagon chief visits Cambodia to boost ties with China ally
US Defense Secretary Lloyd Austin visited Cambodia to reset ties with China ally, addressing concerns over China's influence in the region.
Xi Jinping says China wants to work with Arab states to resolve hot spot issues
Chinese President Xi Jinping expressed China's commitment to collaborating with Arab nations to address regional conflicts while upholding fairness, justice, and promoting long-term peace. Emphasising the importance of a "two-state solution" in the Gaza crisis, Xi urged for mutual respect, fairness, and justice as the foundation for lasting security. China pledged humanitarian aid and support for post-war reconstruction in Gaza.
Singapore and Kazakhstan plan Eurasia to ASEAN trade & transit corridor
Singapore and Kazakhstan strengthen economic ties, enhancing India's role as a link between Southeast Asia and Eurasia. Kazakhstan's transport initiatives and Singapore's expertise create new business opportunities. The countries sign agreements to boost trade and investment, with Singapore investing in Kazakhstan's economy. Cooperation focuses on innovation and digitalization for mutual benefit.
The rise of Xi Jinping as Putin's 'Big Brother': A new chapter in Russia-China ties
Putin's recent visit to China underscores the strengthening bond between the two countries amid Russia's actions in Ukraine. This visit, Putin's first abroad since his re-election, emphasizes the strategic partnership between Russia and China. The visit highlights their military collaboration and economic interdependence, with China's support bolstering Russia's economy and military capabilities. The alliance between Russia and China serves as a counterbalance to Western dominance and has raised concerns in the West about China's role in supporting Russia's military operations.
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.
Russian President Vladimir Putin to visit China this week
Russian President Vladimir Putin will visit China this week after an invitation from Xi Jinping. Beijing's foreign ministry confirmed the trip scheduled from Thursday to Friday. This marks Putin's second visit to China in just over six months, highlighting the close ties between the two nations. The visit comes amidst a strengthened partnership following Russia's military assault on Ukraine in February. China has served as a crucial economic lifeline for Moscow amid Western sanctions.
China ready to work with India to find mutually acceptable solutions to 'specific issues': Beijing's new envoy
China's new envoy Xu Feihong aims to resolve Ladakh standoff with India through dialogue, respecting concerns. Cooperation crucial for global stability, reflecting Xi Jinping's and Narendra Modi's emphasis on broader Sino-Indian ties beyond boundary disputes.
Joe Biden and Fumio Kishida agree to tighten military and economic ties to counter China
President Joe Biden and Prime Minister Fumio Kishida of Japan announced strengthened military, economic, and other cooperation between their countries to counter China's actions in the Indo-Pacific region. This includes creating an expanded defense architecture with Australia, participating in military exercises with Britain, and exploring Japan's entry into a U.S.-led coalition with Australia and Britain. Additionally, the U.S. will take a Japanese astronaut to the moon as part of NASA's Artemis program, marking a significant upgrade in the alliance. Kishida also reaffirmed Japan's support for Ukraine, framing the conflict as relevant to East Asia's future security.
Philippines to hold joint naval drills with US, Japan, Australia
The Philippines is set to conduct joint naval drills with the United States, Japan, and Australia in the disputed South China Sea. The exercises, aimed at countering China's influence in the region, will take place days before a trilateral summit involving the leaders of the Philippines, Japan, and the US. The move comes as tensions rise in the region, with China asserting its claims over the South China Sea. The US has been strengthening its alliances in the region, including with treaty allies Japan and the Philippines, to counter China's actions.
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