RBI takes steps to attract foreign flows, says growth prospects stay strong

The Reserve Bank of India (RBI) on Thursday announced a series of measures to attract foreign flows in a bid to protect the local currency amid depleting foreign exchange reserves. India’s foreign exchange reserves have depleted by $38 billion to below $600 billion since the Russian invasion of Ukraine late February. … Read more

PSLV-C53 carrying three foreign satellites lifts off from Sriharikota

ISRO’s PSLV C-53, carrying three commercial satellites from Singapore, lifted off from the spaceport here on Thursday. This was the second dedicated commercial mission of the space agency’s commercial arm NewSpace India Limited (NSIL). The launch vehicle carrying DS-EO satellite along with two other co-passenger satellites lifted off … Read more

Russia Defaults on Foreign Debt for First Time Since 1918

Breadcrumb Trail Links PMN Business Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Author of the article: Bloomberg News Giulia Morpurgo and Libby Cherry Publishing date: Jun 26, 2022  •  19 minutes ago  •  4 minute … Read more

India emerging as preferred destination for foreign investments: Govt

India is rapidly emerging as a preferred country for foreign investments as the steps taken by the government led by Prime Minister Narendra Modi during the last eight years have borne fruit as is evident from the ever-increasing volumes of FDI inflow setting new records. The FDI inflow in … Read more

Chinese banks lend Pakistan $2.3bn to avert foreign exchange crisis

A consortium of Chinese state banks has lent $2.3bn to Pakistan to help the country stave off a foreign payments crisis, finance minister Miftah Ismail said on Friday. Confirmation of the support from China, a close economic and military ally of Pakistan, came on the same day Islamabad announced a one-off 10 per cent ‘super … Read more

India at G7 summits shows West needs its support: Foreign Secretary Kwatra

India’s regular participation at the G7 summits clearly reflects that the West needs its support to confront major challenges facing the globe, Foreign Secretary Vinay Mohan Kwatra said on Friday, ahead of Prime Minister Narendra Modi’s visit to Germany to attend the annual conclave of the powerful bloc. The … Read more

Indian envoy Rawat meets Chinese foreign minister ahead of BRICS summit

Indian Ambassador to China Pradeep Kumar Rawat has met Chinese Foreign Minister Wang Yi ahead of the BRICS summit and emphasised the “criticality of maintenance of peace and tranquillity in the border areas” to realise the full potential of the consensus between the top leaders of the two sides on the … Read more

Foreign secy meets Sri Lankan President, PM to discuss economic crisis

A four-member Indian delegation led by Foreign Secretary Vinay Kwatra met Sri Lankan President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on Thursday to assess the bilateral assistance provided by New Delhi in the wake of the island nation’s ongoing economic crisis. According to Sri Lanka’s Ministry of Foreign … Read more