Iraq has restarted oil exports from its Kurdistan region, ending a two-year suspension due to legal disputes and pipeline closures. Following agreements between Baghdad and Arbil, SOMO will now manage crude flows through the Iraq-Turkey pipeline. This crucial step, welcomed by the US, aims to recover significant lost revenue.
Dalal Street plunged this week, with over 440 BSE 500 stocks in red, following US President Trump’s H-1B visa fee hike and new medicine tariffs. The BSE 500 dropped 3.3%, led by IT and pharma sector losses. While Coforge and Tech Mahindra saw significant declines, 44 stocks, including Tata Investment Corporation, defied the gloom.
Union Railway Minister Ashwini Vaishnaw announced India’s first bullet train, the Surat to Bilimora stretch, will be operational by 2027, highlighting significant progress on tracks and stations. New technologies are being implemented, and the Surat station features passenger comfort, connectivity, and sustainability. The Mumbai-Ahmedabad corridor is also advancing steadily with substantial infrastructure work completed.
Russian Foreign Minister Sergey Lavrov affirmed the stability of India-Russia relations despite US tariffs and political pressure. He noted India’s clear stance on independent foreign partnerships, choosing its own allies. Lavrov stressed that Moscow and New Delhi continue cooperation across sectors, even as Washington scrutinizes India’s oil purchases from Russia.
India, Brazil, and South Africa (IBSA) criticized unilateral tariffs and coercive trade measures, labeling them discriminatory and inconsistent with WTO rules. They warned such actions destabilize global markets and undermine the rules-based trading system, citing recent US tariffs. IBSA urged urgent restoration of the WTO’s dispute settlement system and emphasized free agricultural trade.
Indian Commerce Minister Piyush Goyal held “constructive” talks with US trade officials on a proposed trade deal, agreeing to continue engagements for an early conclusion. The discussions addressed impasses like India’s Russian oil purchases and farm tariffs, with Goyal suggesting increased US energy trade despite India’s firm stance.
Govt: India-US trade deal talks ‘constructive’ Read More »
The RBI has introduced new rules simplifying claims for deceased bank customers, allowing nominees to claim up to Rs 15 lakh from banks and Rs 5 lakh from co-operative banks. These standardized procedures cover deposits, lockers, and safe custody items. Banks must settle claims within 15 days, with penalties for delays.
Deposit claims up to Rs 15L get easier for kin of deceased Read More »
