They love him: Usha Vance recalls her children hugging PM Modi during India visit
Russia has reaffirmed its commitment to deliver the remaining units of the S-400 air defense system to India by 2025-2026. Roman Babushkin, Russia's deputy chief of mission in India, made this statement on Monday. He highlighted that the system performed very efficiently during the recent India-Pakistan tensions.
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Business Standard
an hour ago
- Business Standard
Asian shares rise on Wall Street rally, strong earnings, Fed cut bets
Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment. The prospect of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefitting the euro, while clouding the outlook for oil prices as traders pondered what's next in terms of sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff moves, including an additional 25 per cent tariff on India over purchases of Russian oil. Trump's threatened 100 per cent duty on chips was also taken in stride. "While a 100 per cent tariff rate looks devastating, exemptions for firms investing in the U.S. 'even though you're building and you're not producing yet' could in fact significantly reduce economic exposures," Barclays analysts wrote in a note. However, the extent of the exemptions remains unclear because, "of course, there are no details," they said. Japan's broad Topix index rose 0.9 per cent to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged as much as 2.6 per cent to a more than one-year peak. Shares in TSMC, which this year announced additional investment in its U.S. production facilities, jumped 4.4 per cent. The KOSPI added 0.6 per cent, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix will not be subject to 100 per cent tariffs. Hong Kong's Hang Seng rose 0.5 per cent, although mainland Chinese blue chips were only slightly higher on the day. Australian shares edged lower, after hitting a record high on Wednesday. Pan-European STOXX 50 futures pointed 0.3 per cent higher. U.S. stock futures were buoyant, with those for the S&P 500 up 0.2 per cent and those for the Nasdaq also rising 0.2 per cent. On Wednesday, the S&P 500 climbed 0.7 per cent and the Nasdaq Composite jumped 1.2 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The U.S. dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the U.S. President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased slightly to 98.127, extending a 0.6 per cent drop from Wednesday. The euro added 0.1 per cent to $1.1672, following the previous session's 0.7 per cent jump. Sterling rose 0.1 per cent to $1.3366. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar was flat at 147.36 yen. Gold gained 0.3 per cent to around $3,378 per ounce, buoyed by the weaker dollar. Crude oil bounced after five sessions of declines, supported by signs of steady demand in the U.S., even as uncertainty lingered around Russian sanctions and the potential drag on global growth from Trump's tariffs. Brent crude futures were last up 58 cents, or 0.9 per cent, at $67.47 a barrel, while U.S. West Texas Intermediate crude gained 64 cents, or 1 per cent, to $64.99 a barrel.
Hans India
3 hours ago
- Hans India
India, Russia vow to enhance defence ties
Moscow: Russia's Deputy Defence Minister Colonel General Aleksandr Fomin on Wednesday held a meeting with Vinay Kumar, India's Ambassador to Russia, as both sides discussed ways to further intensify the multifaceted India-Russia Special Privileged Strategic Partnership. 'During the talks, the sides discussed topical issues of bilateral cooperation in the defence sphere, confirmed the focus on further strengthening the specialised cooperation in the form of a particularly privileged strategic partnership,' read a statement issued by the Russian Defence Ministry. 'The meeting took place in a warm and friendly atmosphere, which is traditional for the Russian-Indian relations,' it added. India has a longstanding and wide-ranging cooperation with Russia in the field of defence, which is guided by the India-Russia Inter-Governmental Commission on Military and Military Technical Cooperation (IRIGC-MMTC) headed by the Defence Ministers of both countries. As time-tested partners, both countries have been involved in several bilateral projects, including the supply of S-400, licensed production of T-90 tanks and Su-30 MKI, supply of MiG-29 and Kamov helicopters, INS Vikramaditya (formerly Admiral Gorshkov), production of AK-203 rifles in India and BrahMos missiles. New Delhi and Moscow acknowledge that the military technical cooperation has evolved over time from a buyer-seller framework to one involving joint research and development, co-development and joint production of advanced defence technology and systems. As the Indian Armed Forces successfully retaliated and also inflicted significant losses on Pakistan during the decisive Operation Sindoor in May this year, the S-400 air defence system was credited with shooting down several incoming missiles from across the border. Considering the strategic planning and military preparedness, New Delhi is set to procure more S-400 air defence systems soon. Meanwhile, National Security Advisor (NSA) Ajit Doval is also in Moscow, holding meetings with senior Russian officials to discuss India-Russia defence and security cooperation.
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First Post
4 hours ago
- First Post
Doval in Russia: Focus on S-400 purchase and talks for SU-57 fighter jets, says report; meeting with Putin likely
Amid tensions with the United States, Indian National Security Adviser Ajit Doval headed to Moscow in a bid to expand defence and industrial ties between India and Russia. Here's what is on the cards read more NSA Ajit Doval has a storied career. In his days at the Intelligence Bureau, he's been known to go undercover, with various disguises. File image/PTI As US President Donald Trump continues to oppose stronger India-Russia ties, India's National Security Adviser Ajit Doval is set to visit Moscow. Doval would focus on expanding defence ties between the two nations as he embarked on the visit on Wednesday. Apart from defence, India and Russia will also focus on strengthening industrial ties amid the tariff threats unleashed by US President Donald Trump. Doval's visit would also focus on the purchase of additional S-400 missile defence systems and dialogue on Su-57 fighter jets. STORY CONTINUES BELOW THIS AD According to a report by The Economic Times, the two sides would discuss the possibility of the purchase of additional S-400 missile systems and the talks could include setting up S-400 MRO facilities in India. The current geopolitical situation demands greater ties It is pertinent to note that the Russian S-400 systems played a crucial role in Operation Sindoor that targeted nine terror camps located in Pakistan and Pakistan-Occupied Kashmir. The attack, which eventually led to a four-day military escalation between the two nations, was conducted two weeks after the Pahalgam terror attack that led to the death of 26 people in Kashmir. Similarly, BrahMos missiles jointly developed by India and Russia rattled the Pakistani military during the four-day military escalation. According to The Economic Times, ahead of Doval's visit, Indian ambassador to Russia Vinay Kumar met Russia's deputy defence minister, Colonel-General Alexander Fomin. The Indian NSA is also expected to meet the Russian President, Vladimir Putin. Interestingly, the visit is coming at a time when the US President Donald Trump's special envoy, Steven Witkoff, is also in Moscow. It is important to note that this is Witkoff's fifth visit to Russia since the beginning of the year. 'The current escalation of the geopolitical situation will also be discussed. Apart from that, the topics will include such pressing matters as supplies of Russian oil [to India],' a Russian source close to the matter told The Economic Times. The visit becomes significant since Trump imposed additional 25 per cent tariffs on India on Wednesday. The Trump administration has been vehemently against India purchasing oil from Russia amid the war in Ukraine.
