US FOREIGN AND DEFENSE POLICY
In Russia, Biden's verbal slip over Putin's name elicits mockery and unease
In response to President Joe Biden's recent verbal slip-ups, including mistakenly referring to Ukraine's leader as "President Putin," Russia's Foreign Ministry and state media commentators have seized upon these incidents to mock Biden's perceived cognitive lapses. Kremlin spokesperson Dmitry Peskov downplayed the gaffes as slips of the tongue, labeling them as an internal U.S. matter, but criticized Biden's remarks about President Putin. Russian media have often portrayed Biden as unfit for office compared to Putin, whom they depict as a strategic leader. The incidents come amid strained U.S.-Russia relations, exacerbated by Moscow's actions in Ukraine and ongoing diplomatic tensions.
What Biden said and what he forgot at press conference: Key takeaways
President Joe Biden has defended his candidacy amid a crisis of confidence, despite calls from Democrats to end his campaign. Biden vowed to stay in the presidential race and dismissed polling showing him losing to Trump. He acknowledged that the schedule of the presidency had become challenging and blamed his staff for the packed days.
US Presidential Election 2024: Is Russia helping Donald Trump? Intelligence officials on alert
Intelligence officials in the US have warned against possible Russian attempts to influence the upcoming presidential election in favor of a particular candidate. it is believed that the Russians will attempt to influence the electorate in the swing states in favor of their preferred candidate. Iran and China are also being watched closely.
Foreigners’ return propels Indian stocks to new all-time highs
Foreign investors drove record highs in Indian stocks, buying $4 billion since June. Modi policy concerns eased as NSE Nifty 50 hit new highs. Strong domestic flows and possible central bank rate easing bolstered economic confidence, notes HDFC’s Deepak Jasani. China’s uneven recovery and US election risks supported India’s $28 billion domestic inflows.
SCO fosters regional stability & multilateral coop: Kazakhstan
The SCO Summit in Astana, Kazakhstan, represents a significant event for over 3 billion people. Kazakhstan, as a founding member, prioritizes the SCO's development within its balanced foreign policy. Deputy Foreign Minister Roman Vassilenko emphasized the summit's role in mutual respect and consensus-building. Under Kazakhstan's presidency, over 150 events focused on energy, digitalization, and environmental protection. President Tokayev's "World Unity for Just Peace and Harmony" initiative highlights Kazakhstan's influence. Kazakhstan's strategic location, rich resources, and strong economic growth make it a key player in global diplomacy and trade.
Rafale’s India operations get a strategic push; Dassault establishes maintenance facility near Jewar Airport
Dassault Aviation is advancing plans to establish a Maintenance, Repair, and Overhaul (MRO) facility near Jewar International Airport for India’s Mirage 2000 and Rafale fighters. This move supports India's aspiration to locally manufacture the latest Rafale versions under the "Make in India" initiative. Engine maker Safran SA also intends to set up an MRO facility for Rafale engines in Hyderabad, aiming for operations by 2025 and potential local production of M-88 engines. These developments are crucial as India seeks to bolster its defense capabilities amidst regional security challenges, including from China's expanding military presence.
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As North Korean and Chinese threats rise, US looks to lock in defense partnerships with Asian allies
The United States concluded its inaugural multidomain exercise with Japan and South Korea in the East China Sea, marking a milestone in strengthening regional security alliances. Dubbed Freedom Edge, the exercise focused on enhancing joint capabilities in missile defense, anti-submarine warfare, and surveillance amid escalating threats from North Korea and China. Despite geopolitical tensions, the drills aimed to foster interoperability among allied forces, crucial for coordinated responses to regional challenges. The exercises underscore efforts by the Biden administration to solidify partnerships amidst growing military dynamics in the Indo-Pacific region.
Four more years? Biden and Trump take swings at each other's golf skills in their debate
During Thursday's debate between President Joe Biden and former President Donald Trump, they covered topics including the economy, immigration, and foreign policy. However, a heated exchange over golf handicaps emerged as a notable moment. Trump boasted about his recent golf victories, emphasizing the intelligence and strength required for such achievements. Biden countered by stating he had lowered his handicap to six during his vice presidency and challenged Trump to a match under specific conditions.
China sanctions several Lockheed Martin units, three executives over arms deals with Taiwan
Named under the sanctions were Lockheed Martin Missile System Integration Lab, Lockheed Martin Advanced Technology Laboratories and Lockheed Martin Ventures. Top executives James Donald Taiclet, Frank Andrew St John and Jesus Malave were listed as banned from travelling to China.
India's foreign policy priorities under Modi 3.0
Narendra Modi is all set to become India’s Prime Minister for a third consecutive term. Here's a look at the likely foreign policy priorities under Modi 3.0.
Move over PSUs, defensive bets can be the next big story under Modi 3.0
Defensive sectors like FMCG and pharma are emerging as potential winners under Modi 3.0, with experts forecasting gains fueled by rural push and policy actions. Investors are advised to explore stocks like HUL, Dabur, and pharma majors for potential returns amidst PSU valuation concerns.
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.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
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.
Zelenskyy visits Philippines to invite counterpart for peace summit
Ukrainian President Volodymyr Zelenskyy visited the Philippines to invite President Ferdinand Marcos Jr. to a global peace summit on the Ukraine-Russia conflict. He accused Russia and China of disrupting the talks. Zelenskyy criticised China's role in supporting Russia and urged countries to attend the summit for peace. Meanwhile, tensions between the U.S. and China were evident at the defense forum in Singapore.
Top US and Chinese defence officials seek to restore communications as tensions rise in Indo-Pacific
US Defense Secretary Lloyd Austin met with Chinese Defense Minister Dong Jun for the first time in person since 2022. The two discussed tensions in the Indo-Pacific region at the Shangri-La defence forum. The US emphasised freedom of navigation in the South China Sea. China accused the US of inflaming regional security. Both countries are restoring defence contacts and plan to resume military-to-military communications.
Foreigners pull money out of EM portfolios after five months of inflows
Foreigners pulled money from emerging markets in April, with outflows from Indian and Indonesian stocks leading to a -$0.7 billion net outflow. China equities also saw small outflows in April.
Study Abroad: Challenges and opportunities for Indian students
Studying abroad has long been a cherished aspiration for many Indian students, offering opportunities for global careers and expanded knowledge. Despite the challenges posed by stricter immigration policies and increased scrutiny, the desire for international education remains strong. Factors driving this trend include the diversity of academic programs, global exposure, availability of scholarships, and access to advanced technology and innovation.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
Citi sees rupee a favorite in Asia as India joins key bond index
Citigroup Inc. remains positive on the Indian rupee's outperformance, citing strong fundamentals, a narrowing current account deficit, and growing expectations on inflows around India's inclusion in a global bond index.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
Fed's Waller ponders future path of underlying interest rates
Federal Reserve Governor Christopher Waller said on Friday it's possible that a key underlying interest rate that influences the potency of monetary policy may rise in the future after years of declines, but it's too soon to say if that will happen.
US will announce $275 million more in artillery and ammunition for Ukraine, officials say
The United States is set to announce $275 million in military aid for Ukraine to combat Russian advances in the Kharkiv region. The aid package includes HIMARS and artillery rounds.
Mahesh Patil on the biggest sectoral overweights and underweights in current market scenario
Where the results are good, we are seeing those companies getting very well rewarded, especially in the industrial, capital goods sector, the real estate sector. But in sectors where there have been some disappointments like in the consumer space the stocks have also equally reacted on the other side.
Ukrainian troops pull out of some areas and Zelenskyy postpones foreign trips amid Russian offensive
U.S. Secretary of State Antony Blinken announced a $2 billion arms package for Ukraine during a visit to Kyiv, aimed at supporting Ukraine in its defense against a new Russian offensive. The package includes funds for medium- and long-term foreign military financing, with most of the money coming from a package approved last month by Congress. Blinken's visit comes as Ukrainian forces face increased pressure from Russian troops in the east. President Zelenskyy has postponed all his upcoming foreign trips in response to the escalating conflict.
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.
Russia-India ties will expand notwithstanding Delhi’s growing ties with other powers: Experts
India aims to enhance global ties under potential Modi 3.0 government, focusing on strengthening partnerships with Russia, US, and Europe. Experts predict a 2024 summit meeting between Indian PM and Russian President, emphasizing the strategic importance of these relationships.
India can't, in the name of open economy, open up its national security to work with China: S Jaishankar
From the big shifts in foreign policy under the Modi government, the China challenge to CAA and the heat and dust of electoral politics, External Affairs Minister S Jaishankar touched on a range of topics in a freewheeling discussion at the ET Roundtable.
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