Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
Grand Slam champions Daniil Medvedev from Russia and Belarusian Victoria Azarenka will not be able to participate in the June 27-July 10 tournament
The US hopes India will "reconsider" its decision to ban wheat exports, with Washington "encouraging" countries not to restrict exports as that will exacerbate food shortages, amidst Russia's invasion of Ukraine. India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being hit by scorching heat waves. The decision would help control retail prices of wheat and wheat flour, which have risen by an average 14-20 per cent in the last one year, besides meeting the foodgrain requirement of neighbouring and vulnerable countries.
Top-seeded Elina Svitolina of Ukraine, wearing her national colors of blue and yellow, won on "a special night for me," beating Russia's Anastasia Potapova 6-2, 6-1 on Tuesday in the first round of the Abierto GNP Seguros in Monterrey, Mexico.
FIDE said it will do its utmost to find another organiser for the Olympiad and will provide more information in due time.
Serbia's Novak Djokovic outclasses Russia's Andrey Rublev to set up a meeting with unseeded Tommy Paul in the semi-finals of the Australian Open on Wednesday.
In a television appearance Monday, Putin said Russia had struck military and infrastructure targets across Ukraine following the Crimea bridge blast.
Russia has already begun delivery of the first S-400 systems, and the question of sanctions, or of a waiver to sanctions, preoccupies New Delhi.
"This will be a fair decision that should draw the attention of the whole world to a regime that kills its best people and helps kill Ukrainians," Palkin said in a statement one day before his team plays at Celtic in the Champions League.
'To be part of Team Europe together is great and if we're able to possibly share the court one more time as a doubles pairing then this would be a truly special experience for us both at this stage in our careers.'
Abstaining in the UN General Assembly on a vote to suspend Russia from the UN Human Rights Council, India on Thursday asserted that if it has 'chosen' any side, it is the side of 'peace and it is for an immediate end to violence.'
Djokovic welcome to play if he can obtain visa, says Australian Open director
India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.
The 193-member UN General Assembly adopted the draft resolution 'Humanitarian consequences of the aggression against Ukraine' by Ukraine and its western allies, with 140 nations voting in favour, five against and 38 abstentions. India abstained on the resolution.
'Bach's latest statement goes against Olympic principles.'
'An eerie similarity with 2019 inflation trajectory could now mean that the RBI and market inflation estimates could go awry.'
It will be the first high-level meeting between the two sides after the border row escalated in eastern Ladakh in early May.
"India has been deeply concerned over the rapidly deteriorating situation in Ukraine and the ensuing humanitarian crisis," India's Permanent Representative to the UN Ambassador T S Tirumurti said.
The two leaders discussed the safe evacuation of Indian nationals from the conflict areas.
World Athletics president Sebastian Coe claimed that more people took to running to stay fit during the coronavirus-forced lockdown, something his sport can capitalise on once the world is back to being normal.
India abstained from a procedural vote taken in the United Nations Security Council to call for a rare special emergency session of the UN General Assembly on Russia's aggression against Ukraine, even as New Delhi welcomed Moscow and Kyiv's decision to hold talks at the Belarus border.
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
Tirumurti also said India is 'deeply concerned' about the welfare and security of the Indian community, including a large number of Indian students, in Ukraine.
"I am saddened, however, that there is a small, handful of members that seem to be still tolerating the war," Sergiy Kyslytsya said after the Security Council voted on the United States-led draft resolution.
Guterres, who opened an emergency meeting of the 15-nation Security Council on Ukraine late Wednesday, in his brief off-the-cuff remarks said 'if indeed an operation is being prepared, I have only one thing to say from the bottom of my heart: President Putin, stop your troops from attacking Ukraine. Give peace a chance. Too many people have already died'.
The stakes could not be higher in Sunday's Flushing Meadows final between Spanish teenaged phenomenon Carlos Alcaraz and Norwegian Casper Ruud, with the US Open trophy and the world number one ranking awaiting the winner.
Putin justified his decision in a speech blaming NATO for the current crisis and calling the US-led alliance an existential threat to Russia.
World number one Novak Djokovic said on Wednesday he hopes rival Roger Federer will return to competitive action soon and be able to compete with the best again after the Swiss great said he would miss the Australian Open in January.
World number one Novak Djokovic said on Wednesday he hopes rival Roger Federer will return to competitive action soon and be able to compete with the best again after the Swiss great said he would miss the Australian Open in January.
Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
Former women's World champion Susan Polgar feels that the rising strength of Indian players makes them favourites to grab three out of the six medals at stake.
The world governing body of chess (FIDE) on Thursday stopped the Candidates tournament in Yekatrinburg, Russia at halfway stage after the hosts decided to ban all flights into and out of the country owing to the spread of the coronavirus pandemic. The prestigious tournament was stopped after seven rounds. The eighth round was scheduled to be played on Thursday.
Novak Djokovic, who won Wimbledon to take his major singles titles to 21, has opted not to be vaccinated against COVID-19. He said on Thursday he could not fly to New York for the year's final Grand Slam.
UN Secretary General Antonio Guterres has termed Russian President Vladimir Putin announcement of a special military operation in Ukraine as the "saddest moment in my tenure", while Security Council members blasted the Russian leader for the "unprovoked and unjustified' action and for delivering a "message of war".
'The escalation of tension along the border of Ukraine with the Russian Federation is a matter of deep concern'
'He provokes you intellectually so hard that you really break out of your shell and come up with something creative.' 'He can extract a creation out of you, such is the power of Godard and his films.'
Singh, who arrived in Moscow on Wednesday on a three-day visit to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO), pressed for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier.
The government is hopeful of a speedy launch of single-dose COVID-19 vaccine Sputnik Light in India and all stakeholders, including the Russian manufacturer and its Indian partners, have been directed to fast-track the application and regulatory approval procedures for the jab to boost the country's vaccination drive, sources said.
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