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☆ Yellen says Russian oil price cap could save African countries $6 bln annually
▼ + stars: | 2023-01-20 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/2] U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. Yellen said ending the war would be the best thing to help the global economy, but Treasury estimated that a Group of Seven-led price cap on Russian crude oil and refined products to limit Russia's revenues could save the 17 largest net oil-importing African countries $6 billion annually. G7 countries and Australia implemented the oil price cap on Dec. 5, banning the use of Western-supplied maritime insurance, finance and other services for cargoes priced above $60 per barrel. A further cap on Russian refined petroleum products, such as diesel and fuel oil, is due to take effect on Feb. 5. "We believe that the international community, including China, needs to provide meaningful debt relief to help countries regain their footing," she said.

☆ U.S. Treasury's Yellen, China's Liu to meet in Zurich for first in-person talks
▼ + stars: | 2023-01-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/2] U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. A Chinese official said Liu and Yellen would also touch on the possibility of a world recession. The IMF has warned against decoupling the global economy into two competing blocs, saying it could reduce global economic output by up to 7% - and even more in vulnerable countries. Yellen has met virtually three times with Liu since taking office, and met in Bali, Indonesia, with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

☆ Inflation is coming down too slowly to comfortably return to a 2% level in 2023, strategist says
▼ + stars: | 2022-12-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is coming down too slowly to comfortably return to a 2% level in 2023, strategist saysAltaf Kassam, EMEA head of investment strategy and research at State Street Global Advisors, speaks on CNBC's "Squawk Box Europe."

☆ Cyberattack on top Indian hospital highlights security risk
▼ + stars: | 2022-12-07 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

NEW DELHI — The leading hospital in India’s capital limped back to normalcy on Wednesday after a cyberattack crippled its operations for nearly two weeks. Online registration of patients resumed Tuesday after the hospital was able to access its server and recover lost data. The attack was followed by a series of failed attempts to hack India’s top medical research organization, the Indian Council of Medical Research. “We are digitizing (everything), but then there is an attack on the country’s most important medical institute,” he said. Altaf Qadri / APOn Nov. 30, there were repeated but ultimately unsuccessful attempts to breach the website of the Indian Council of Medical Research, the Press Trust of India news agency reported.

☆ Pollution curbs lifted in Indian capital although air quality 'very poor'
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Altaf HussainNEW DELHI, Nov 7 (Reuters) - Primary schools will reopen in India's capital New Delhi this week and curbs will be lifted on certain construction activities, authorities said on Monday, after pollution levels improved to the 'very poor' category from 'severe'. Residents in the capital have been waking up in recent weeks to hazy mornings with the sky a shade of grey. The air quality index in nearly all monitoring stations in the city was between 300 to 400 or in the "very poor" category on Monday, which experts say leads to respiratory illness on prolonged exposure. "Directions for work from home amended and offices functioning at full capacity from today," Delhi state environment minister Gopal Rai told reporters. Air quality could worsen later this week, however, the System of Air Quality and Weather Forecasting and Research said on its website.

☆ Britain prioritising India trade deal but can't give timeline, minister says
▼ + stars: | 2022-10-29 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

[1/3] British Foreign Secretary James Cleverly speaks during an interview with Reuters at the residence of British High Commissioner in New Delhi, India, October 29, 2022. And it's incredibly important that we remember that an extensive free trade agreement like the one we're negotiating, it's never going to be simple, but it's an incredibly important vehicle to build on our already strong relationship and to make it really future-focused." Previous sticking points included a steep import duty on British whiskey for sale in India. India and Russia have close defence ties and India has become a big buyer of Russian oil since the Ukraine war started. "I don't think it would be right for me as a British politician to dictate policy to another country," he said.

☆ RBI may need to reload reserves as Indian rupee falls further, HDFC Bank economist says
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/MUMBAI, Sept 27 (Reuters) - The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee, HDFC Bank Chief Economist Abheek Barua said. read more"The central bank should intervene to ensure that a falling currency does not eclipse India's fundamentals," Barua wrote in a note this week. According to Barua, the central bank may need to think of ways to bulk up its forex reserves, should the pool shrink to near $500 billion in the coming months. "More capital is needed at this stage to stabilise the rupee and enable the RBI to replenish its reserves chest," he said.

☆ RBI to raise rates again, slim majority of economists expect 50 bps hike: Reuters poll
▼ + stars: | 2022-09-23 | by ( Arsh Tushar Mogre | ) www.reuters.com time to read: +4 min

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. The RBI has lagged many of its global peers, despite inflation sticking above the top end of its target range of 2-6% all year. Register now for FREE unlimited access to Reuters.com RegisterIn the latest Reuters poll, economists were split five ways on what the RBI will do at its next meeting. Slightly over half, 26 of 51, said the RBI would go for a 50 basis point hike, taking the repo rate to 5.90%. Economists expected growth to average 6.2% and 6.5% over the next two years, the poll showed.

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