Muslim Nation Asks Hamas To Cross Its Red Line & Transfer Arsenal
Indian Foreign Secretary Vikram Misri visited Kathmandu on a two-day official trip starting August 17, during which he handed over light strike vehicles, medical equipment, and military animals to the Nepal Army. The handover ceremony took place at the Nepal Army headquarters and was received by Chief of Army Staff Ashok Raj Sigdel. Misri also delivered Prime Minister Narendra Modi's invitation to Nepal PM KP Sharma Oli for an official visit to India. He held meetings with President Paudel, key political leaders, and Foreign Secretary Amrit Bahadur Rai, discussing enhanced cooperation in connectivity, trade facilitation, and development partnerships.
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Hindustan Times
9 minutes ago
- Hindustan Times
Very happy with China tariffs: Trump official who slammed India over Russian oil
US treasury secretary Scott Bessent on Tuesday said he is "very happy" with the tariff arrangement the country currently has with China, adding the status quo on the subject was "working pretty well" with China. US President Donald Trump (L) and Chinese President Xi Jinping (R)(AFP) When asked about the current tariff situation and a potential trade agreement with China, Bessent said, "We're very at 50–55% tariffs on China, by far the largest line of tariff if it's not broke, don't fix it." Bessent's remarks came during an interview with Fox News. 'We have had very good talks with China. I imagine we'll be seeing them again before November," Bessent added. The US's tariff deadline for China, which was scheduled to end on August 12, was extended by President Donald Trump by 90 days earlier this month, now expected to end in November. The US currently charges 30% tariffs on Chinese imports, including a 10% base rate and 20% in fentanyl-related tariffs. In another interview around the same time, Bessent had lashed out at India as he explained his rationale behind the US not sanctioning China over buying Russian oil. India has been 'profiteering' and 'making billions' from its reselling of the oil, Bessent said to a question asked to him during the CNBC interview. "India is just profiteering, they are reselling... They made 16 billion in excess profits, some of the richest families in India," said Bessent. "This is a completely different thing. Indian arbitrage, which is buying cheap oil and reselling it, has just sprung up during the [Ukraine] war. This is just unacceptable," he added further. Bessent claimed that 42% of India's oil imports came from Russia. Meanwhile, news agency Reuters has said in a report that China's import of crude oil from Russia rose by 16.8% from a year earlier to 8.71 million metric tons in the month of July. Russia was China's biggest supplier for the month, the report further said. Scott Bessent's latest remarks on tariffs follow US Secretary of State Marco Rubio's recent remarks detailing "implications" if additional tariffs were levied on China. "Let's say you were to go after the oil sales oil to China, China just refines that oil, which is sold into the global marketplace and anyone who is buying that oil would be paying more for it or if it doesn't exist, would have to find an alternative source for it," Rubio had said in an interview to Fox News. Last month, Donald Trump announced 25% tariffs on Indian imports into the US, further doubling the duties a few days later over India's oil trade with Russia. Trump's move received backlash in India, with the government saying in its response that the US was acting against New Delhi 'for actions that several other countries are also taking in their own national interest'.
Hindustan Times
9 minutes ago
- Hindustan Times
Karnataka IT Minister calls ban on online real money gaming is a ‘knee-jerk move', regulation is the way forward
Karnataka IT Minister Priyank Kharge has strongly criticised the Centre's proposal to impose a blanket ban on online real money gaming, calling it another example of 'bad policymaking' by the Modi government. He argued that instead of prohibition, a well-regulated framework is the only way to safeguard jobs, revenues, and national security. Karnataka IT minister and Congress leader Priyank Kharge,(ANI) Also Read - Karnataka Assembly clears bill to rename Bangalore University after Dr Manmohan Singh What Priyank Kharge told? Kharge warned that the move would have severe economic consequences. According to him, the online real money gaming industry contributes nearly ₹20,000 crore annually to state and central revenues through GST and income tax. A sudden ban, he said, would wipe out this income stream. Highlighting the scale of the sector, the minister pointed out that over 2,000 gaming startups and more than two lakh professionals are engaged in IT, AI, and design roles within the industry. 'A ban doesn't just stifle innovation, it will drive Indian talent abroad and push entrepreneurs to shift base outside the country,' he cautioned. The minister also flagged the risk to foreign investments, noting that the industry has attracted ₹23,000 crore in FDI in the past five years. He said such capital inflows would dry up if India itself shut down its own digital ecosystem. Additionally, an estimated ₹7,000 crore spent annually on advertising, data centres, sponsorships, and cybersecurity would also vanish, leading to an 'ecosystem collapse.' Kharge further argued that banning platforms will not address concerns over addiction or suicides. Instead, it would push users to offshore and unregulated betting sites, which already account for a parallel market worth ₹8.2 lakh crore annually. Such a shift, he warned, carries risks of money laundering, terror financing, and data theft—threats flagged even by the Financial Action Task Force (FATF) and Rashtriya Raksha University. Also Read - Bengaluru sees spike in viral infections among children, elderly as monsoon sets in Legally too, Kharge pointed out, the issue remains unsettled as the Supreme Court is still examining whether the power to regulate gaming lies with the Centre or the states. 'Why the rush to ban now?' he questioned. As a way forward, the minister suggested regulating skill-based platforms, enforcing the IT Rules, 2021, and whitelisting legitimate operators. 'Balanced regulation will ensure jobs, revenue, safer users, stronger national security, and innovation. A ban achieves none of these, it only fuels illegal markets,' Kharge said.
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Business Standard
9 minutes ago
- Business Standard
Indian Oil, BPCL resume buying Russian oil for September as discounts widen
Discounts for Russian flagship Urals crude have widened to about $3 per barrel, making the oil attractive for Indian refiners, while China has stepped up purchases, the officials said Reuters NEW DELHI India's state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday. The refiners had halted purchases in July due to narrower discounts and after India was criticised by Washington for its purchases of Russian oil. President Donald Trump also threatened an additional 25 per cent levy on Indian goods, effective August 27, to penalize New Delhi for its continued buying of the oil. Discounts for Russian flagship Urals crude have widened to about $3 per barrel, making the oil attractive for Indian refiners, while China has stepped up purchases, the officials said. In addition to Urals, IOC has also bought other Russian crude oil grades including Varandey and Siberian Light, they said. Indian companies do not comment on their crude imports. On Monday, IOC, the country's top refiner, told analysts that it would continue to buy Russian oil depending on economics. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
