SECURITY AGREEMENT
UK general election: FTA with India on manifesto agenda for both Tory, Labour
As the UK gears up for the general election, a potential free trade agreement with India remains a key focus for both the Conservatives and Labour, with negotiations stalled at the fourteenth round. The Tories aim for a comprehensive partnership, including technology and defense, while Labour criticises missed deadlines and emphasises readiness to finalise the deal. Challenges include tariff removal on Scotch whisky and concerns over visa rules for Indian workers.
India, Pakistan exchange lists of civilian prisoners, fishermen in each other's custody: MEA
Pakistan has been requested to ensure the safety, security and welfare of all Indian and believed-to-be-Indian civilian prisoners and fishermen, pending their release and repatriation to India, it said. The MEA said India remains committed to addressing, on priority, all humanitarian matters, including those pertaining to prisoners and fishermen in each other's country.
US automobile industry threatened by prospects of Chinese EVs entering the country through the Mexican border
The US automobile industry has been threatened by the prospects of low-cost Chinese Electric Vehicles (EVs) reaching the country through the Mexican border. The US-Mexico-Canada trade agreement provides for free movement of goods and services between the three countries. The average price of an EV manufactured in the US has been priced at $55,000 and the Chinese EVs are priced at half this rate.
Greenko in talks with REC to raise up to Rs 2,400 crore
The project has an offtake agreement with Norway's Yara and received pre-certification for ammonia. An offtake agreement is a contract to buy or sell goods in advance of production, which will facilitate financing for the project. Greenko has signed a term sheet with Yara Clean Ammonia in May this year, the trader and distributor of ammonia, for the supply of renewable ammonia from Phase 1 of AM Green's ammonia production facility in Kakinada, Andhra Pradesh.
Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
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.
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Triveni Engineering & Industries acquires majority stake in Sir Shadi Lal Enterprises
Triveni Engineering & Industries Ltd announced acquiring an additional 36.34% stake in Sir Shadi Lal Enterprises Limited, making SSEL a subsidiary of the company.
For a few dollars less: The quiet demise of the petrodollar agreement
The USD hegemony is unravelling, and the global financial order is moving towards a new era led by BRICS-plus countries. Hard commodities-based blockchain-enabled digital currencies will challenge the dollar's dominance and its power dynamics through transparency and inherent strength. How this will play out in gaining legitimacy and acceptance will determine our lives over the next decade.
80 countries at Swiss conference agree territorial integrity of Ukraine must be basis of any peace
Eighty countries have called for the "territorial integrity" of Ukraine to be the basis for any peace agreement to end Russia's two-year war. The joint communique capped a two-day conference at the Burgenstock resort in Switzerland, marked by the absence of Russia, which was not invited. About 100 delegations, mostly Western countries but also some key developing nations, were on hand for the conference. The final document focused on issues of nuclear safety, food security, and the exchange of prisoners.
US, Europe agree to lock up Russian assets until it pays for Ukraine war, clearing way for USD 50 billion loan
The United States and European countries have agreed to freeze sanctioned Russian assets until Moscow pays reparations for its invasion of Ukraine. This move paves the way for a USD 50 billion loan package for Kyiv, with interest and income from the frozen assets to secure the loan. The agreement, to be announced at the Group of Seven summit, includes a bilateral security agreement between the US and Ukraine. However, the US will not commit troops directly to Ukraine's defense.
10 most important clauses in a rent agreement
The amount of security deposit varies from city to city. In big cities, the amount is higher than in smaller cities. Even though the deposit is refundable, disputes often arise regarding getting it back. The rental agreement should clearly state that the landlord must refund the security deposit when the rental agreement ends. If you pay a security deposit, you can request a separate receipt with details like the check number, date, and the landlord's signature.
What are the security deals Ukraine is signing with allies?
Ukrainian President Volodymyr Zelenskiy will sign bilateral security agreements with the United States and Japan at the G7 Summit in Italy, finalizing similar deals with all G7 nations. These agreements, following a joint G7 declaration in July last year, ensure long-term security aid, including military support, intelligence-sharing, and cyber defense. While they aim to strengthen Ukraine's defense amidst its ongoing war with Russia, they are not substitutes for NATO membership, which remains Ukraine's strategic goal. The agreements build on prior commitments, emphasizing immediate aid in case of further Russian aggression.
Maldives and China discuss further bolstering defence ties
After Maldives and China signed a defence agreement on March 4, President Mohamed Muizzu, who is perceived to be pro-China, announced that Beijing would supply military equipment and train soldiers under the agreement but offered no details, the portal said. Two days later, Muizzu announced that the Maldives would get free "non-lethal" military equipment and training from China's military under the agreement and underlined that it would further strengthen the Indian Ocean island nation's independence and autonomy.
India, UK begin talks on recognising and mapping skill gaps
India is discussing skill mapping and mutual recognition of skills with the UK to enhance job opportunities for its workforce. The focus is on linking the NCS portal with the UK job portal and facilitating worker exchange in labour-intensive sectors under the MMPA.
Learn with ETMarkets: What do global economic trends, and their implications mean to gold, currency markets?
The Indian rupee tends to weaken during such times due to increased risk aversion and capital outflows. A weaker rupee makes gold and silver more expensive in the domestic market, potentially leading to profit booking and increased liquidity among investors.
North Korea sends 600 more trash balloons over border, South says
North Korea sent 600 balloons carrying trash into South Korea, causing anger in the country. The balloons, which contained cigarette butts, cloth, paper waste, and plastic, were found across the capital from 8 p.m. to 10 a.m. South Korea's Joint Chiefs of Staff said the military was monitoring the starting point and conducting aerial reconnaissance to collect the balloons. South Korea's Defence Minister Shin Won-sik said the balloons violated the armistice agreement and reaffirmed a coordinated response to North Korean threats.
Sweden, Norway ink long-term security deals with Ukraine
Zelenskyy visited Stockholm as Western nations discuss whether to let Kyiv use weapons provided by them to strike targets inside Russia. The security deals with Sweden and Norway bring to 15 the number of agreements Kyiv has signed with Western nations.
NCLT admits Srei's insolvency plea against Supreme Infrastructure BOT
The National Company Law Tribunal (NCLT) has accepted Srei Infrastructure Finance's request to commence a corporate insolvency resolution process (CIRP) against Supreme Infrastructure BOT due to its failure to repay a loan. Srei Infrastructure Finance had provided a term loan of Rs 150 crore to Supreme Infrastructure BOT for a duration of five years, earmarked for infrastructure projects.
India, Eurasian Economic Union to soon start FTA negotiations
India is set to negotiate a free trade agreement with Russia-led Eurasian Economic Union (EAEU), providing it with access to markets in five resource-rich post-Soviet states. The agreement will benefit Indian exporters in sectors like engineering goods, electronics, and agriculture. The agreement will also benefit India's management of the Chabahar Port in Iran, providing a connectivity corridor to Eurasia.
Saudi crown prince, US national security adviser meet on Gaza, bilateral deal
The de facto Saudi leader and President Joe Biden's top security aide also discussed the need to find a "credible track for bringing about the two-state solution" for Israel and the Palestinians, stop the war against Hamas militants in Gaza and facilitate the entry of humanitarian aid, the statement said.
How might a US-Saudi civil nuclear deal work?
White House National Security Adviser Jake Sullivan to visit Saudi Arabia to discuss a civil nuclear cooperation agreement, key for U.S.-Saudi relations and Israeli-Saudi reconciliation under Section 123 of the U.S. Atomic Energy Act of 1954.
India, UK review implementation of 10-year roadmap
Foreign Secretary Vinay Kwatra reviewed the India-UK 'Roadmap 2030' in London, enhancing bilateral cooperation in trade, defence, security, science, and people-to-people exchanges. Meetings were held with Minister of State Lord Tariq Ahmad, MoS for Defence Procurement James Cartlidge, and NSA Sir Tim Barrow.
Indian students cleared for re-entry to US after OPT scam
A US district court lifts sanctions on over 90 foreign nationals, many Indian, previously denied US re-entry due to OPT fraud by former employers. Victims can now live and work in the US, their inadmissibility lifted after DHS review. Plaintiffs' attorneys criticize DHS for not alerting public sooner about scam.
Do international employees still have to make EPF contributions after Karnataka High Court ruling?
Karnataka High Court's April 25, 2024 ruling deemed special provisions for International Workers under EPF Scheme unconstitutional, affecting EPF contributions, retirement age eligibility, and equality before law for these workers.
India and US have firm foundation of strategic alignment: Condoleezza Rice
India and the US have a strong strategic alignment, with a potential upward trajectory in their relationship after their respective elections this year. Former Secretary of State Condoleezza Rice believes that the convergence of interests between the two countries is unassailable, and she expects bipartisanship whoever wins. The upward trajectory of the relationship began during the Prime Ministership of Atal Bihari Vajpayee and played a crucial role in the India-US relationship during the Bush Administration.
EPFO to challenge HC ruling against inclusion of foreign workers under its ambit
In a recent judgement, the high court termed the EPF scheme provisions covering 'international workers' unconstitutional if international workers earning several lakhs are required to contribute to provident fund on their full salary, whereas the contribution is capped at Rs 15,000 for Indians working overseas.
EPFO evaluates course of action on Karnataka HC judgement on foreign workers
"While holding the highest regard for the Court's decision, the EPFO (Employees' Provident Fund Organisation) is actively evaluating the course of action in response to this judgement," the EPFO said in response to the queries pertaining to the judgement.
Avaada Energy secures Rs 1,190 crore loan from SBI for solar project
Avaada Energy has secured a Rs 1,190 crore loan from the State Bank of India for a 400 MWp utility-scale solar PV project in Gujarat's Surendra Nagar district. The 20-year project loan facility will support the project's development and procurement by Gujarat Urja Vikas Nigam Limited. This marks Avaada's first venture in developing a greenfield project under an existing Special Purpose Vehicle.
China says AUKUS risks nuclear proliferation in Pacific
China's foreign minister criticized the AUKUS security pact, accusing Western powers of causing division and nuclear proliferation risks in the South Pacific. During his visit to Papua New Guinea, Wang Yi condemned the agreement between the US, UK, and Australia, which aims to provide Australia with nuclear-powered submarines. He emphasized that AUKUS goes against a South Pacific treaty banning nuclear weapons in the region and could destabilize the area. Wang's remarks reflect China's efforts to counter US and Australian influence in the Pacific Islands, which are strategically significant despite their small populations.
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