DIRS.INFO The most relevant business & tech news

Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.

Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China

☆ India's September wholesale price index falls 0.26% y/y
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A labourer carries a sack of onions at a wholesale market in Kolkata, India, December 14, 2021. REUTERS/Rupak De Chowdhuri/File photo Acquire Licensing RightsNEW DELHI, Oct 16 (Reuters) - India's wholesale price index (INWPI=ECI) in September fell 0.26% from a year earlier, according to government data released on Monday. Economists polled by Reuters had estimated the wholesale price index for September would rise 0.5%. In September, fuel and power prices fell 3.35% from a year earlier, compared with a 6.03% drop in August. Food prices rose 1.54% year-on-year compared with a rise of 5.62% in August and manufactured product prices fell 1.34% against a 2.37% fall the previous month.

Persons: Shivangi Acharya, Aftab Ahmed, Sohini Goswami Organizations: REUTERS, Reuters, Reserve Bank of India, Thomson Locations: Kolkata, India, DELHI

The Lhonak Lake in the mountainous northeastern state of Sikkim overflowed on Wednesday after a cloudburst triggered torrential rains and an apparent avalanche, causing major flooding in the Teesta river. Sikkim officials had put the death toll at 18 on Thursday evening. Officials in the neighbouring downstream state of West Bengal told Reuters that emergency teams recovered another 22 bodies that had been washed away. Relief teams are unable to reach the affected areas there," Tseten Bhutia, a state official, told Reuters by telephone. All bridges downstream of an NHPC (NHPC.NS) hydropower station Teesta-V have either been submerged or washed away, the Indian government said.

Persons: Bhutia, Pradeep Kumar Barma, Jatindra, Shivam Patel, YP Rajesh, Michael Perry Organizations: Indian Army, India Army, REUTERS Acquire, Reuters, Mobile, Private, Military, India Meteorological Department, YP, Thomson Locations: Sikkim, KOLKATA, DELHI, Asia's, West Bengal, Nepal, Bhutan, China, Siliguri, Bhubaneswar

☆ JPMorgan adding India local govt bonds to index to trigger higher inflows
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion are eligible. "India's weight is expected to reach the maximum weight threshold of 10% in the GBI-EM Global Diversified (.JPMGBIEMGD), and approximately 8.7% in the GBI-EM Global index," said JPMorgan. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. The Indian rupee rose 0.3% in offshore trade before local markets opened while traders expected local bond yields to fall sharply.

Persons: Thomas White, ”, Sanjeev Sanyal, Aftab Ahmed, Rodrigo Campos, Sarita Singh, Chris Reese, David Gregorio, Christian Organizations: REUTERS, JPMorgan, Government Bond, Global, Council, Securities, DBS, Thomson Locations: India, Egypt, New Delhi, New York

U.S. President Joe Biden, Indian Prime Minister Narendra Modi and President of the European Union Ursula von der Leyen attend the G20 summit in New Delhi, India, September 9, 2023. The summit declaration avoided condemning Russia for the war in Ukraine but highlighted the human suffering the conflict had caused and called on all states not to use force to grab territory. A failure to agree on a summit declaration would have signalled that the G20 was split, perhaps irrevocably, between the West on one side and China and Russia on the other, analysts said. Diplomats have said negotiators from India, Indonesia, Brazil and South Africa drove the consensus in the summit document. Despite the lack of concrete progress, Harsh Vardhan Shringla, India's chief G20 coordinator, said the meeting did take the group forward.

Persons: Joe Biden, Narendra Modi, Ursula von der Leyen, Evelyn Hockstein, Michael Froman, Svetlana Lukash, Lukash, Patryk Kugiel, ” Kugiel, Sergei Lavrov, Vladimir Putin, India's, Xi Jinping, Li Qiang, Vardhan, ”, Michel Rose, Aftab Ahmed, Raju Gopalakrishnan Organizations: Indian, European, REUTERS, Diplomats, African Union, India, Foreign Relations, Shanghai Cooperation Organisation, Russian G20, Polish Institute of International Affairs, Xinhua, Reuters, Thomson Locations: New Delhi, India, DELHI, Ukraine, Russia, York, U.S, China, Beijing, Russian, Warsaw, Delhi, Indonesia, Brazil, South Africa, Germany, Britain

☆ Sweden's NATO accession and Turkey's bid to buy F-16 jets should be kept separate -Erdogan
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +3 min

Biden made a connection between the supply of F-16s and Turkish action in ratifying Sweden's application to join NATO, Erdogan said. After months of objections, Erdogan agreed at a NATO summit in July to forward Sweden's NATO bid to the Turkish parliament for ratification. "It is not possible for me to say 'yes' (to Sweden's NATO membership bid) alone unless such a decision is approved by (our) parliament." Stockholm recently voiced hope that Turkish lawmakers would ratify its NATO bid when they reconvene in October, as agreed at the NATO summit in July. While Finnish membership was sealed in April, Sweden's bid remains held up by Turkey and Hungary.

Persons: Tayyip Erdogan, Adnan Abidi, Joe Biden's, Erdogan, Biden, Lockheed Martin Corp's, Jake Sullivan, extraditing, Sweden's, Krishn Kaushik, Aftab Ahmed, Huseyin Hayatsever, Mark Heinrich Our Organizations: REUTERS, Rights, NATO, Lockheed, U.S . National, Kurdistan Workers Party, European Union, Turkish, Thomson Locations: New Delhi, India, Rights ANKARA, Turkey, Ankara, U.S, Washington, Turkish, Sweden, United States, Stockholm, Finland, Russia, Ukraine, Hungary, Budapest

☆ Sweden's NATO Accession and Turkey's Bid to Buy F-16 Jets Should Be Kept Separate, Erdogan Says
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

ANKARA (Reuters) - U.S. President Joe Biden's administration is linking F-16 fighter jet sales to Turkey with Turkish ratification of Sweden's NATO membership bid, and this "seriously upsets" Ankara, President Tayyip Erdogan said on Sunday. Biden made a connection between the supply of F-16s and Turkish action in ratifying Sweden's application to join NATO, Erdogan said. After months of objections, Erdogan agreed at a NATO summit in July to forward Sweden's NATO bid to the Turkish parliament for ratification. "It is not possible for me to say 'yes' (to Sweden's NATO membership bid) alone unless such a decision is approved by (our) parliament." Stockholm recently voiced hope that Turkish lawmakers would ratify its NATO bid when they reconvene in October, as agreed at the NATO summit in July.

Persons: Joe Biden's, Tayyip Erdogan, Erdogan, Biden, Lockheed Martin Corp's, Jake Sullivan, extraditing, Sweden's, Krishn Kaushik, Aftab Ahmed, Huseyin Hayatsever, Mark Heinrich Organizations: NATO, Lockheed, U.S . National, Kurdistan Workers Party, European Union, Turkish Locations: ANKARA, Turkey, Ankara, New Delhi, U.S, Washington, Turkish, Sweden, United States, Stockholm, Finland, Russia, Ukraine, Hungary, Budapest

NEW DELHI, Sept 10 (Reuters) - Any initiative to revive the Black Sea grain deal that isolates Russia is not likely to be sustainable, Turkish President Tayyip Erdogan said in a press briefing after the conclusion of the G20 summit in New Delhi on Sunday. Russia, Ukraine and Turkey are going to continue to discuss the grain deal, Erdogan added. Russia is willing to send free grain to poorer countries, which Turkey favours, he told reporters, adding that Qatar had also agreedErdogan said he was not "hopeless" about reviving the grain deal. The Turkish president also held talks with Japanese Prime Minister Fumio Kishida at the sidelines of the G20 summit regarding efforts to revive the deal, two sources with knowledge of the matter said, without giving further details. Reporting by Krishn Kaushik and Aftab Ahmed, Writing by Swati Bhat; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Russia, Erdogan, Fumio Kishida, Krishn Kaushik, Aftab Ahmed, Swati Bhat, Kim Coghill Organizations: United, Japanese, Thomson Locations: DELHI, Russia, New Delhi, Sunday, United Nations, Turkey, Ukraine, Qatar, Turkish

REUTERS/Altaf Hussain Acquire Licensing RightsNEW DELHI, Sept 9 (Reuters) - India served millet, a staple for millions of Indians, to world leaders at a gala dinner at the end of the first day of the G20 Leaders Summit in New Delhi on Saturday. From leaf crisps to pudding, the foodstuff was served at the high table occupied by leaders including U.S. President Joe Biden, British Prime Minister Rishi Sunak and Japan's Prime Minister Fumio Kishida. The main course was a jackfruit pastry served with glazed forest mushrooms, millet crisps and curry leaf tossed Kerala red rice. Earlier this year, the versatile and climate friendly superfood grain featured at the White House state dinner for Indian Prime Minister Narendra Modi. "We encourage efforts to strengthen research cooperation on climate-resilient and nutritious grains such as millets, quinoa, sorghum, and other traditional crops including rice, wheat and maize," the statement said.

Persons: Altaf Hussain, Joe Biden, Rishi Sunak, Fumio Kishida, Droupadi Murmu, Millet, Narendra Modi, Krishn Kaushik, Aftab Ahmed, Alexander Smith Organizations: International Media Center, REUTERS, G20, U.S, British, Japan's, Indian, United Nations Food, Agriculture Organization, White House, Thomson Locations: New Delhi, India, DELHI, Mughlai, Russia, Ukraine

[1/3] A general view of the venue for the G20 summit in New Delhi, India, September 9, 2023. According to a draft of the summit declaration reviewed by Reuters, negotiators were unable to resolve disagreements over the wording on the war in Ukraine, leaving it to the leaders to reach a compromise if possible. According to another senior source in one of the G20 countries, the paragraph on the war on Ukraine had been agreed by Western countries and sent to Russia for its views. The official said Russia had the option to accept Western countries' views and give its dissent as part of the statement. The two-day summit is expected to be dominated by the West and its allies.

Persons: Amit Dave, Joe Biden, Biden, Sergei Lavrov, Creon Butler, Xi Jinping, Li Qiang, Russia's Vladimir Putin, Olaf Scholz, Emmanuel Macron, Rishi Sunak, Saudi Arabia's Mohammed Bin Salman, Japan's Fumio, Narendra Modi's, Manoj Kumar, Katya Golubkova, Krishn Kaushik, Raju Gopalakrishnan, Sanjeev Miglani, Jacqueline Wong Organizations: REUTERS, Bharat, Reuters, White, Foreign, West, British, Thomson Locations: New Delhi, India, DELHI, India's, Ukraine, Delhi, Russia, Western, EU, Saudi, China, Moscow

☆ Factbox: What is the G20 and what are the key issues for the 2023 summit?
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

A general view of the venue for the G20 summit in New Delhi, India, September 9, 2023. REUTERS/Amit Dave/file photo Acquire Licensing RightsSept 9 (Reuters) - Leaders of the world's biggest economies begin a two-day G20 summit on Saturday in India's capital of New Delhi. It includes Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United States and the European Union. SUMMIT THEMEIndia's G20 theme derives from the Sanskrit phrase "Vasudhaiva Kutumbakam" which translates to "The World is One Family". Compiled by Aftab Ahmed and Shivangi Acharya; Editing by Raju Gopalakrishnan and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Amit Dave, Aftab Ahmed, Shivangi, Raju Gopalakrishnan, Jacqueline Wong Organizations: REUTERS, India, European Union, African Union, Moscow, Thomson Locations: New Delhi, India, India's, Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United States, Ukraine

☆ G20 members struggle for consensus on Ukraine as India gears up for summit
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +4 min

[1/3] A model of G20 is pictured outside ITC Maurya hotel ahead of the G20 Summit in New Delhi, India, September 8, 2023. Chinese President Xi Jinping is skipping the meeting and sending Premier Li Qiang instead, while Russia's Vladimir Putin will also be absent. The most important thing that can be done to support global economic growth is for Russia to end its brutal war in Ukraine, she said. The IMF has forecast lower growth for most G20 nations this year than in 2022. It is difficult to predict whether leaders will reach a consensus on a declaration but EU will support efforts made by India for a final communique, Michel told reporters in New Delhi.

Persons: Amit Dave, Xi Jinping, Li Qiang, Russia's Vladimir Putin, Joe Biden, Olaf Scholz, Emmanuel Macron, Saudi Arabia's Mohammed Bin Salman, Japan's Fumio, Rishi Sunak, Narendra Modi, Janet Yellen, saidWashington, Yellen, Charles Michel, Michel, Nikunj Ohri, Manoj Kumar, Krishn Kaushik, Aftab Ahmed, YP Rajesh, Kim Coghill Organizations: REUTERS, West, U.S, Financial Times, Treasury, IMF, Reuters, YP, Thomson Locations: New Delhi, India, DELHI, Ukraine, Saudi, Russia, U.S, Moscow

☆ Factbox: Who is attending the G20 summit in New Delhi?
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

People stand infront of Nataraja, a statue of Hindu lord Shiva as the cosmic dancer, installed next to 'Bharat Mandapam', the main venue of the G20 Summit, in New Delhi, India, September 7, 2023. REUTERS/Altaf Hussain Acquire Licensing RightsNEW DELHI, Sept 8 (Reuters) - Leaders from the Group of 20 (G20) major economies kick off an annual summit meeting on Saturday to coordinate policy on food security, debt problems of vulnerable countries and climate action. Here is a list of those attending and some key leaders who are skipping the meeting in the Indian capital, New Delhi. G20 LEADERS:ARGENTINA'S PRESIDENT ALBERTO FERNANDEZ AUSTRALIAN PRIME MINISTER ANTHONY ALBANESE BRAZIL'S PRESIDENT LUIZ INACIO LULA DA SILVABRITISH PRIME MINISTER RISHI SUNAK CANADIAN PRIME MINISTER JUSTIN TRUDEAU FRENCH PRESIDENT EMMANUEL MACRON GERMAN CHANCELLOR OLAF SCHOLZINDIAN PRIME MINISTER NARENDRA MODI INDONESIAN PRESIDENT JOKO WIDODOITALIAN PRIME MINISTER GIORGIA MELONIJAPANESE PRIME MINISTER FUMIO KISHIDA SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMANSOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSA SOUTH KOREAN PRESIDENT YOON SUK-YEOLTURKISH PRESIDENT TAYYIP ERDOGAN U.S. PRESIDENT JOE BIDENEUROPEAN UNION: PRESIDENT OF THE EUROPEAN COMMISSION URSULA VON DER LEYEN AND PRESIDENT OF THE EUROPEAN COUNCIL, CHARLES MICHELSPECIAL INVITEES:BANGLADESH PRIME MINISTER SHEIKH HASINAEGYPT PRESIDENT ABDEL FATTAH AL-SISIMAURITUIUS PRIME MINISTER PRAVIND KUMAR JUGNAUTHNETHERLANDS PRIME MINISTER MARK RUTTE NIGERIA'S PRESIDENT BOLA TINUBU OMAN'S SULTAN HAITHAM BIN TARIK AL-SAID SINGAPORE PRIME MINISTER LEE HSIEN LOONG UAE PRESIDENT SHEIKH MOHAMMED BIN ZAYEDOTHERS ATTENDINGU.S. Treasury Secretary Janet YellenThe heads of the United Nations, the International Monetary Fund, the World Bank, the World Health Organisation, the World Trade Organisation, the International Labour Organisation, the Financial Stability Board and the Organisation for Economic Cooperation and Development. NOTABLE MISSING GUESTSCHINESE PRESIDENT XI JINPING (represented by Prime Minister Li Qiang)MEXICAN PRESIDENT ANDRES MANUEL LOPEZ OBRADORRUSSIAN PRESIDENT VLADIMIR PUTIN (represented by Foreign Minister Sergei Lavrov)Sources: Reuters, officials, state media and domestic mediaCompiled by Aftab Ahmed and Shivangi Acharya; Editing by Sanjeev Miglani and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Shiva, Bharat Mandapam, Altaf Hussain, ALBERTO FERNANDEZ, ANTHONY ALBANESE, LUIZ INACIO LULA DA SILVA, JUSTIN TRUDEAU, EMMANUEL MACRON, OLAF SCHOLZ INDIAN, NARENDRA MODI, JOKO, GIORGIA, FUMIO KISHIDA, FUMIO KISHIDA SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMAN, CYRIL RAMAPHOSA, YOON SUK, TAYYIP ERDOGAN, JOE BIDEN, URSULA VON DER, CHARLES MICHEL SPECIAL, SHEIKH HASINA, ABDEL FATTAH, PRAVIND KUMAR, MARK RUTTE, BOLA TINUBU, HAITHAM BIN TARIK, LEE HSIEN LOONG, SHEIKH MOHAMMED BIN ZAYED, Janet Yellen, XI JINPING, Li Qiang, ANDRES MANUEL LOPEZ, VLADIMIR PUTIN, Sergei Lavrov, Aftab Ahmed, Shivangi, Sanjeev Miglani, Raju Gopalakrishnan Organizations: REUTERS, LUIZ INACIO LULA DA SILVA BRITISH, FUMIO KISHIDA SAUDI ARABIA'S CROWN, CYRIL RAMAPHOSA SOUTH, TAYYIP ERDOGAN U.S, OF, EUROPEAN, CHARLES MICHEL SPECIAL INVITEES, ABDEL FATTAH AL, Treasury, United Nations, International Monetary Fund, World Bank, World Health Organisation, World Trade Organisation, International Labour Organisation, Organisation for Economic Cooperation, Development, Foreign, Thomson Locations: New Delhi, India, DELHI, BANGLADESH, SHEIKH HASINA EGYPT, NETHERLANDS, SINGAPORE, LEE HSIEN LOONG UAE, MEXICAN, RUSSIAN

☆ Factbox-What Is the G20 and What Are the Key Issues for the 2023 Summit?
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Leaders of the world's biggest economies begin a two-day G20 summit on Saturday in India's capital of New Delhi. It includes Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United States and the European Union. The G20 is discussing a plan for the African Union to join. A draft circulated among members on Friday left blank a paragraph on the geopolitical situation, suggesting that differences remained unresolved. SUMMIT THEMEIndia's G20 theme derives from the Sanskrit phrase "Vasudhaiva Kutumbakam" which translates to "The World is One Family".

Persons: Aftab Ahmed, Shivangi, Raju Gopalakrishnan, Jacqueline Wong Organizations: Reuters, India, European Union, African Union, Moscow Locations: India's, New Delhi, Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United States, Ukraine

☆ What is the G20 and what are the key issues for the 2023 Delhi summit?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A paramilitary soldier stands guard outside Le Meridien hotel during a rehearsal ahead of the G20 Summit in New Delhi, India, September 2, 2023. REUTERS/Adnan Abidi Acquire Licensing RightsNEW DELHI, Sept 4 (Reuters) - Leaders of the world's richest and most powerful countries will attend the two-day G20 Summit in India's capital New Delhi starting September 9. Security is being provided by anti-drone systems, cutouts of langurs to scare away monkeys and 130,000 police and para-military personnel. Although only treasury chiefs met in the initial years, heads of all member nations decided to meet once a year for a leaders' summit post the 2008 financial crisis. SUMMIT THEMEIndia's G20 theme is derived from the Sanskrit phrase "Vasudhaiva Kutumbakam" which translates to “The World is One Family".

Persons: Le, Adnan Abidi, Aftab Ahmed, Shivangi, Raju Gopalakrishnan Organizations: REUTERS, European Union, Moscow, Thomson Locations: Le Meridien, New Delhi, India, DELHI, India's, Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, Ukraine, Western

☆ G20 New Delhi summit 2023: Which countries and leaders will attend?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +5 min

A paramilitary soldier stands guard outside Le Meridien hotel during a rehearsal ahead of the G20 Summit in New Delhi, India, September 2, 2023. BRITISH PRIME MINISTER RISHI SUNAKSunak is expected attend the summit on his first official trip to India as Britain's prime minister. GERMAN CHANCELLOR OLAF SCHOLZScholz has said the upcoming G20 summit in India remains important despite the absence of Russia and China. SOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSARamaphosa has expressed full support for India's G20 presidency while conveying his intent to attend the summit. BANGLADESH PRIME MINISTER SHEIKH HASINABangladesh Prime Minister Sheikh Hasina is likely to attend the G20 summit in New Delhi, according to Indian media reports.

Persons: Le, Adnan Abidi, JOE BIDEN Biden, Biden, XI, Li Qiang, Xi Jinping, Xi, VLADIMIR PUTIN, Sergei Lavrov, Vladimir Putin, Putin, JUSTIN TRUDEAU Trudeau, Ukraine's Volodymyr Zelenskiy, Zelenskiy, RISHI SUNAK Sunak, KISHIDA, ANTHONY ALBANESE, YOON SUK, YEOL Yoon, OLAF SCHOLZ Scholz, EMMANUEL MACRON, Modi, SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMAN, CYRIL RAMAPHOSA Ramaphosa, TAYYIP ERDOGAN, ALBERTO FERNANDEZ Fernandez, BOLA TINUBU Tinubu, LUIZ INACIO LULA DA SILVA, URSULA VON DER, CHARLES MICHEL The, SHEIKH HASINA, Sheikh Hasina, ANDRES MANUEL LOPEZ OBRADOR, JOKO, Aftab Ahmed, Shivangi, Nick Macfie Organizations: REUTERS, Criminal Court, ICC, BRITISH, AUSTRALIAN, SOUTH, Associated Press, SAUDI ARABIA'S CROWN, African Union, NIGERIA'S, LUIZ INACIO LULA DA SILVA Brazil, OF, EUROPEAN, CHARLES MICHEL The European Union, BANGLADESH, Thomson Locations: Le Meridien, New Delhi, India, DELHI, India's, Ukraine, U.S, RUSSIAN, Russia, South Africa, Africa, Indonesia, Philippines, China, Saudi, SHEIKH HASINA Bangladesh, Bangladesh, MELONI Italy

That means the two-day summit from September 9 will be dominated by the West and its allies. The G20 leaders who will attend include U.S. President Joe Biden, German Chancellor Olaf Scholz, French President Emmanuel Macron, Saudi Arabia's Mohammed Bin Salman and Japan's Fumio Kishida. "If the leaders' summit is a flop, New Delhi and especially Modi will have suffered a major diplomatic, and political, setback," Kugelman said. "The positions have hardened since the Bali Summit," a senior Indian government official told Reuters, referring to the 2022 summit held in Indonesia. Lavrov said last week Russia will block the final declaration of the G20 summit unless it reflects Moscow's position on Kyiv and other crises.

Persons: Adnan Abidi, Li Qiang, Xi Jinping, Vladimir Putin's, Joe Biden, Olaf Scholz, Emmanuel Macron, Saudi Arabia's Mohammed Bin Salman, Japan's, Michael Kugelman, Narendra Modi, Modi, Kugelman, Joko Widodo, Justin Trudeau, Sergei Lavrov, Putin, battlelines, Trudeau, Ukraine's Volodymyr Zelenskiy, Zelenskiy, Lavrov, David Boling, N.K, Singh, Larry Summers, Katya Golubkova, Kentaro Sugiyama, Sakura Murakami Organizations: REUTERS, West, South Asia Institute, Wilson Center, Indian, New, Reuters, Bali, Canada's, Russian, Diplomats, Eurasia Group, Thomson Locations: New Delhi, India, DELHI, Ukraine, China, Russia, Saudi, Washington, Bali, Indonesia, Indonesian, CHINA, Brazil, South Africa, Johannesburg, U.S, Tokyo

According to the median forecast (INGDPQ=ECI) in a Reuters poll of economists, India's gross domestic product (GDP) grew 7.7% in the past quarter, up from 6.1% growth in the previous quarter and its fastest expansion since April-June 2022. Reuters GraphicsStrong growth in India's services sector, which makes up more than half of its economic output, has helped Asia's third-largest economy buck the global slowdown that has left many major economies, including China, stuttering. S&P Global India services Purchasing Managers' Index (INPMIS=ECI) has remained firmly above the 50-mark separating growth from contraction for nearly two years, the longest stretch since August 2011. To support growth, Indian government has been front-loading its annual spending on infrastructure. Additionally, slowing global growth and exports and a comparison with higher growth rates a year ago will also weigh on growth in quarters ahead.

Persons: Manoj Kumar, Suvodeep Rakshit, Kaushik Das, Rahul Bajoria, Aftab Ahmed, Tomasz Janowski Organizations: REUTERS, DELHI, P Global, Deutsche Bank's, Barclays, Thomson Locations: Faridabad, New Delhi, India, China, P Global India

☆ Chandrayaan-3 punches home India's lead in budget space flights
▼ + stars: | 2023-08-24 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +4 min

[1/2] People watch a live stream of Chandrayaan-3 spacecraft's landing on the moon, inside an auditorium of Gujarat Science City in Ahmedabad, India, August 23, 2023. Although India's government allocated the equivalent of $1.66 billion for the department of space for the fiscal year ending in March, it spent around 25% less. By contrast, NASA has a $25 billion budget for the current year. Put another way, the annual increase in NASA's budget - $1.3 billion - was more than what ISRO spent in total. It used Indian suppliers for vehicle assembly, transportation and electronics to keep costs low.

Persons: Amit Dave, Chandrayaan's, Russia's Luna, Somak Raychaudhury, Amit Sharma, Somanath, Narendra Modi's, Ankit Patel, Patel, Nivedita, Aditi Shah, Aftab Ahmed, Kevin Krolicki, Raju Gopalakrishnan Organizations: REUTERS, Rights, Indian Space Research, NASA, ISRO, Somanath, Ashoka University, Tata Consulting Engineers, Reuters, Thomson Locations: Gujarat Science City, Ahmedabad, India, Chandrayaan, Russia, Bengaluru, New

The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July. "The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," one of the sources told Reuters, when asked about wheat imports from Russia. Wholesale wheat prices in India surged around 10% over two months to a seven-month high in August on limited supplies. Wheat stocks at government warehouses were at 28.3 million tons on Aug. 1, 20% below the 10-year average.

Persons: Alexander Ermochenko, Sanjeev Chopra, Aftab Ahmed, Rajendra Jadhav, Mayank Bhardwaj, Sonali Paul Organizations: REUTERS, Reuters, Thomson Locations: Russia, Ukraine, Nikolske, Donetsk Region, Russian, DELHI, MUMBAI, India, New Delhi, Mumbai

India's annual retail inflation (INCPIY=ECI) rose sharply to 7.44% in July from 4.87% the previous month. Reuters Graphics"The spurt in CPI inflation in July 2023 was on expected lines, however, 7.44% retail inflation was totally unexpected," said Devendra Pant, economist at India Ratings. Food inflation, which accounts for nearly half of the overall consumer price basket, hit a staggering 11.51% in June as compared with 4.49% in June. Retail food inflation was at its highest since January 2020. Even a moderate rise in food inflation tends to anger voters and Dhiraj Nim, economist at ANZ Research, said further measures may be required from the government.

Persons: Devendra Pant, Research's Gaura Sen Gupta, Pant, Narendra Modi's, Dhiraj Nim, Nikunj Ohri, Chizu Nomiyama, Christina Fincher Organizations: REUTERS, DELHI, Reuters, Reserve Bank of India, ANZ Research, Thomson Locations: Kolkata, India

☆ Ukraine seeks progress towards peace at Saudi Arabia talks
▼ + stars: | 2023-08-05 | by ( Maha El Dahan | ) www.reuters.com time to read: +5 min

Ukrainian, Russian and international officials say there is no prospect of direct peace talks between Ukraine and Russia at present, with the war raging. The world's top oil exporter Saudi Arabia, which has maintained contacts with both sides since Russia invaded Ukraine last February, has played a role in convening countries that did not join earlier meetings, Western diplomats have said. SAUDI DIPLOMACYWestern officials and analysts said Saudi diplomacy had been important in securing China's presence at the talks. Zelenskiy attended an Arab League summit in Saudi Arabia last year where MbS voiced readiness to help mediate in the war. In March, Beijing brokered a resumption of ties between Saudi Arabia and its arch regional foe Iran.

Persons: Andriy Yermak, Volodymyr Zelenskyi, Volodymyr Zelenskiy's, Zelenskiy, Russia's, Eurasian Affairs Li Hui, Ajit Doval, Crown Prince Mohammed bin Salman, Xi Jinping, Kristian Coates Ulrichsen, Rice, Yun Sun, Sun, Lidia Kelly, Maha El Dahan, Omar Abdel, Michael Martina, Aftab Ahmed, Angus McDowall, Andrew Cawthorne Organizations: International, REUTERS, Saudi, Global, Kremlin, Eurasian Affairs, Indian National Security, Crown, Arab, MbS, Shanghai Cooperation Organization, Iran, Baker Institute, Stimson, Razek, Thomson Locations: Ukraine, Kyiv, China, India, Jeddah Ukraine, Russia, DUBAI, United States, Saudi Arabia, Ukrainian, Copenhagen, Beijing, Moscow, Jeddah, Riyadh, SAUDI, Saudi, Turkey, Middle East, Washington, Warsaw, Maha, Dubai, New Delhi

☆ Factbox: India's measures targeting Chinese products and investment
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on their disputed Himalayan frontier and 24 people were killed. Several Indian government officials, who asked not to be named, said the licensing measure aimed to address a trade imbalance with China. Here are some other Chinese trade and investment ventures affected by Indian measures since 2020:INVESTMENT PLAN BY BYDChina's BYD (002594.SZ) told its India joint-venture partner last month it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi. It has led to billions of dollars in proposed investment getting stuck in the approval process over the last 3 years. Reporting by Aftab Ahmed Editing by William Mallard and Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: Nick Carey, Xiaomi, China's Tencent, Aftab Ahmed, William Mallard, Helen Popper Our Organizations: REUTERS, Wall, Krafton Inc, South, HK, Thomson Locations: Farnborough, Britain, India, China, New Delhi, HK, South Korean

Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Modi personally tracking developments, sources say. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple did. Tesla does not currently sell vehicles in India. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."

Persons: Narendra Modi, Elon Musk, Elon, BYD, Tesla, Modi, Musk, Gaurav Vangaal, Tesla's, Sam Fiorani, Aditi Shah, Aftab Ahmed, Aditya Kalra, Shivangi Acharya, Kim Coghill Organizations: India's, India's Press, REUTERS, Economic, Indian, Reuters, EVs, Apple, Global Times, P Global Mobility, Tata Motors, Toyota, Hyundai Motor, Kia, AutoForecast Solutions, Thomson Locations: New York City , New York, U.S, India, New Delhi, Thailand, New York, China, Shanghai

Search resuls for: "Aftab Ahmed"

25 mentions found