THE TALK
India, UK to hold next round of talks on proposed trade agreement this month
Senior officials of India and the UK will hold talks this month to finalise the proposed free trade agreement, as the new government in Britain aims to resolve pending issues and conclude negotiations. The talks, which began in January 2022, were stalled during the countries' general election cycles. Both sides are working towards a mutually beneficial FTA, addressing issues in goods, services, investments, and intellectual property rights.
Hamas official says expects quick Israeli response to ceasefire 'ideas'
Hamas official Osama Hamdan expects an Israeli response to new ideas for ending the nine-month Gaza war and freeing hostages. Mossad's David Barnea is in Doha for talks. Benjamin Netanyahu insists on hostages' freedom. The conflict, sparked by October 7 attacks, left 1,195 dead. Joe Biden discusses a prisoner exchange and US pressure continues.
UK Elections 2024 Result: How Keir Starmer's 400-paar feat for Labour party will impact India-Britain relations
UK Elections 2024: The likely change in UK government leadership raises questions about its impact on policies, particularly concerning India, a crucial trade partner currently negotiating a free trade agreement (FTA). Both the Conservatives and the Labour Party have prioritized finalizing an FTA with India, with the Conservative manifesto emphasizing a broader strategic partnership encompassing technology and defence.
Commodity Talk: Gold's 13% H1CY2024 returns robust, but positives priced-in now, says Anuj Gupta
Average returns by gold over the past five years are at 8.43%. Its best six-month performance has been in 2020, the year of Covid lockdowns. That year gold yielded nearly 25% returns. The next highest are in 2024 at 13.26%. In H1 of 2022 and 2023, the returns were 5% and 6%. It has given negative returns of 6.60% in 2021.
Indian Twitter rival Koo shuts down after failed acquisition talks
“Patient, long term capital is essential to build ambitious, world beating products from India be it in social media, Al, space, EV or other futuristic categories. It will need a lot more capital when the space has a global giant already," Radhakrishna said in a joint post along with cofounder Mayank Bidawatka.
Putin arrives in Kazakhstan for Russia-China dominated SCO summit
Russian President Vladimir Putin arrived in Kazakhstan for regional security and defense talks, along with bilateral meetings with Chinese and Turkish leaders. The Shanghai Cooperation Organisation (SCO) summit, set for July 3-4 in Astana, will address deepening cooperation among member countries. While Russia and China will dominate the discussions, leaders from several countries, including India, Iran, and Turkey, will attend. UN Secretary-General Antonio Guterres is also expected. Putin plans bilateral talks with Chinese President Xi Jinping and Turkish President Tayyip Erdogan. India's Prime Minister Modi will be represented by Foreign Minister Subrahmanyam Jaishankar.
Commodity Talk: Silver down by Rs 5,000/kg in June. Is it setback to Rs 1 lakh target in 2024?
We do see further corrective moves of upto 2 – 3 % in prices in case US macro cues support the dollar further in near term. However silver is still expected to witness new all time highs this year driven by concerns of 2 rate cuts to persist driving investment demand in white metal.
F&O Talk | Deploy bull spread in Nifty as FIIs highly net long: Sudeep Shah of SBI Securities
Nifty is sustaining nearly 300 points above its 10 day exponential moving average while Bank Nifty is trading close to 550 points above the same on daily charts.
Manipur: Thousands rally for 'territorial integrity'
COCOMI organised a 5-km rally in the heart of Imphal, which was attended by a couple of legislators. The participants held banners which read "Save Indigenous and Rightful Citizens of India", "No Separate Administration", "Save Territorial Integrity of Manipur" among others.
EU releases Euro 1.9 billion for Ukraine, days after launch of accession talks
The European Union on Thursday disbursed Euro 1.9 billion to Ukraine amid its ongoing conflict with Russia. The funds, provided under the Ukraine Facility, are intended to support the Ukrainian state during this challenging time. European Union President Ursula von der Leyen stated the purpose of the funds.
Mamata Banerjee objects to Teesta talks with Bangladesh without Bengal, Centre says claim 'false'
The Centre dismissed West Bengal's claim of not being consulted on the Internal Review of the India-Bangladesh Treaty of 1996 on Sharing of the Ganga/Ganges Waters at Farakka. The state government nominated the Chief Engineer for the committee and conveyed their 30-year demand. CM Mamata Banerjee expressed grievance over exclusion from talks with Bangladesh, emphasizing the importance of consultation.
Not happy with Centre for excluding Bengal government from Teesta talks with Bangladesh: Mamata Banerjee to PM
West Bengal CM Mamata Banerjee expresses 'strong reservation' over Centre excluding state govt from discussions with Bangladesh on Teesta water sharing and Farakka Treaty.
EAM S Jaishankar holds 'productive & deep' talks with UAE counterpart Al Nahyan
External Affairs Minister S Jaishankar held "productive and deep" discussions with UAE counterpart Abdullah bin Zayed Al Nahyan on India and UAE's "ever-growing" strategic ties. They discussed regional and global issues, emphasizing the significance of their Comprehensive Strategic Partnership. Jaishankar visited the BAPS Hindu Mandir in Abu Dhabi, calling it a symbol of India-UAE friendship, and participated in the 10th International Yoga Day celebrations at the Louvre Abu Dhabi museum.
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
India and Korea are progressing with talks to upgrade their existing free trade agreement (FTA), known as the Comprehensive Economic Partnership Agreement (CEPA). The Department of Commerce is collaborating with various ministries such as heavy industries, steel, and chemicals to prepare the offer list for the negotiations.
Modi-Hasina talks: India, Bangladesh ink 10 MoUs; defence ties get a boost
India and Bangladesh signed 10 MoUs during the meeting between Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina in New Delhi. The leaders endorsed a vision statement on peace and prosperity, renewing longstanding ties. The talks focused on defence ties, management of Mongla port, and cross-border power trade. India plans to send a technical team for the Teesta river conservation project, countering Chinese interest in funding the $1 billion project and constructing a special economic zone in the area.
Seat-sharing talks for Maharashtra polls yet to begin in MVA; all are equal stakeholders: Sanjay Raut
Shiv Sena (UBT) leader Sanjay Raut stated that seat-sharing discussions among the Maha Vikas Aghadi (MVA) allies for the upcoming Maharashtra assembly polls have not started yet. Raut emphasized that all parties within the MVA, including NCP (SP) and Congress, are equal stakeholders. He noted that despite the NCP (SP) having the highest strike rate in the Lok Sabha polls, the Shiv Sena (UBT) was heavily targeted by the opposition, which impacted its performance. Raut reassured that there will be ample seats for all parties to contest comfortably.
US considering unilateral talks on hostage deal with Hamas, NBC reports
U.S. officials are considering a direct deal with Palestinian Hamas militants to free five American hostages held in Gaza if ceasefire talks with Israel fail. It's unclear what the U.S. might offer Hamas in return. The hostages were taken during a deadly Hamas incursion into Israel, prompting a retaliatory Israeli response. Secretary of State Antony Blinken believes the best way to secure their release is through the current ceasefire proposal. Any talks would be facilitated by Qatar and exclude Israel, potentially straining U.S.-Israel relations.
Pakistani Prime Minister Sharif meets China's Xi in Beijing ahead of IMF talks
China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing, affirming China's support for Pakistan's sovereignty and economic development. The meeting occurred ahead of Pakistan's annual budget and anticipated IMF loan application. Pakistan's strategic location on the Arabian Sea is vital for China's trade routes. Pakistan owes China $27 billion, nearly 13% of its total debt, mainly for infrastructure projects. Xi emphasized the importance of the China-Pakistan Economic Corridor and called for enhanced security for Chinese projects, following a recent attack on Chinese engineers.
India and Oman strengthen maritime defence relations through Staff Talks
The 6th edition of Staff Talks between the Indian Navy and the Royal Navy of Oman took place from June 4 to 5 in New Delhi, as announced by the Ministry of Defence. The discussions aimed to enhance the defense relations between India and Oman in the maritime domain. The talks were led by Cmde Jasim Mohammed Ali Al Balushi from RNO and Cmde Manmeet Singh Khurana from India. Topics included maritime security challenges, interoperability, operational collaboration, and training. Oman is a key partner for India in the Gulf region, and these talks help strengthen naval cooperation between the two countries.
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