Latest news with #FM
Shafaq News
4 hours ago
- Politics
- Shafaq News
Russia's Lavrov appeals for de-escalation: No repeat of Iran-Israel conflict
Shafaq News - Moscow On Friday, Russian Foreign Minister Sergey Lavrov called for preventing any future escalation between Iran and Israel, emphasizing the need for restraint and continued diplomacy in the region. Speaking at a joint press conference with his Saudi counterpart, Faisal bin Farhan, in Moscow, Lavrov urged all sides to avoid renewed conflict. 'We count on the wisdom of Gulf countries and Iran to implement the positive steps reached in recent months,' Lavrov stated, adding that Russia hopes the ceasefire between Iran and Israel will hold. He also reiterated Russia's position on Syria, stressing the need to preserve its sovereignty and territorial integrity. 'Our positions are closely aligned with Saudi Arabia's regarding Syria,' he noted. The Russian FM called on Israel to implement a ceasefire in Gaza to allow humanitarian aid to reach Palestinians. 'Conditions in the West Bank are no better than in Gaza,' Lavrov added, reaffirming Russia's support for the establishment of an independent Palestinian state. Bin Farhan echoed this stance, emphasizing the urgency of international efforts toward a just and comprehensive peace. 'This must be based on the establishment of a Palestinian state along the June 4, 1967 borders.' The Saudi minister highlighted Russia's role in the Iran nuclear file, expressing hope that Moscow would continue to support diplomatic solutions and 'facilitate dialogue across sensitive regional matters.'
United News of India
20 hours ago
- Business
- United News of India
China warns against trade deals that harm third parties after US-Vietnam pact
World Beijing, July 3 (UNI) China today expressed concerns over the recent trade agreement between the US and Vietnam, warning that trade deals should not target or harm the interests of third parties. This statement comes after US President Donald Trump announced a trade deal with Vietnam, which includes a 20% tariff on Vietnamese exports to the US and a 40 per cent tariff on goods deemed to be transshipped through Vietnam. The trade agreement, announced by Trump, aims to level the playing field for US businesses in Vietnam. As per the deal, "20 pc tariff will be imposed on Vietnamese exports to the US, and 40 pc tariff on goods deemed to be transshipped through Vietnam." The trade agreement will help provide Vietnam the US total access to its markets for trade, allowing US products to enter Vietnam at zero tariff. China is upset as the deal would ensure 40% tariff on transshipping that aims to prevent goods from third countries, particularly China, from being exported to the US through Vietnam. In a post on Truth Social, Trump said the deal would open Vietnamese markets to American goods without any tariffs. As part of the agreement, Vietnam has also pledged to impose a 40% tariff on products that originate in other countries but are routed through Vietnam before being exported to the U.S. Earlier, Trump had imposed a hefty 46% tariff on Vietnam, which would have impacted the supply chain of various products. "China always believes that trade disputes should be resolved through equal consultation, and relevant negotiations and treaties should not target or harm the interests of any third party," Chinese FM spokeswoman Mao Ning said after a new trade deal between the US and Vietnam was reached, which will place a 40 percent tariff on goods deemed to be transshipped through the country The US-Vietnam trade deal has sparked concerns about its potential impact on global trade. UNI AAB RN
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Business Standard
a day ago
- Business
- Business Standard
E-auction of 730 FM radio channels to be conducted this month: I&B secy
Online auctions for 730 FM radio channels in 234 cities across the country are scheduled to start later this month, Information and Broadcasting Secretary Sanjay Jaju said on Thursday. Addressing the Broadcasting Engineering Society Expo here, Jaju said over 20 top companies from across the country have participated in bids that were invited for the auction under the Private FM Radio Phase III policy. "There are a lot of gains being made now in terms of the private FM radio. The auctions for private FM radio are slated to start this month," Jaju said. "I am sure that it will get good participation from many of the players," he said. In August last year, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal to conduct the third batch of e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore, under the Private FM Radio Phase III policy. In October last year, the Ministry of Information and Broadcasting invited applications for e-auctions. Six months later, in April this year, the Ministry issued Amendment No. 1 to the Auction Rules for Private FM Radio Batch III channels e-auction under Phase III. According to the amendment, the Ministry has extended the duration of each round in the Rank-wise Multiple Rounds allocation stage from 30 minutes to 60 minutes. This change aims to provide bidders with more time per round during the allocation stage, potentially facilitating a more considered bidding process.
Time of India
4 days ago
- Business
- Time of India
FM Sitharaman highlights India's reforms, investment opportunities in FFD4 Summit in Spain
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman , currently on an official visit to Spain, Portugal, and Brazil, delivered a strong pitch for mobilising private capital for sustainable development at the International Business Forum Leadership Summit titled "From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development" in Seville, Spain. Addressing global leaders and investors, Sitharaman highlighted that while private investment has shown encouraging growth in recent years, thanks to a rise in innovative financial instruments and traditional sources, much more needs to be done. In a social media post, the minister said, "Private capital mobilisation remains significantly below what is required, with low and middle-income countries receiving a disproportionately small share. This underscores the urgent need for targeted efforts to overcome investment barriers and better align financial flows with development priorities." Highlighting India's own journey, Sitharaman stressed the importance of addressing perceived investment risks in emerging markets . India, she noted, has taken significant steps to overcome these challenges. Sitharaman stated, "India has addressed this challenge by establishing independent regulators, implementing transparent bidding processes, standardising contracts, and improving the ease of doing business . These reforms have significantly enhanced investor confidence and reduced transaction costs." Live Events The Finance Minister also highlighted the role of strong domestic financial systems. India has focused on strengthening its banking sector and deepening capital markets to support large-scale financing in infrastructure and industry. She said India's regulatory frameworks now better balance investor protection with innovation and flexibility, creating an enabling environment for long-term investment. FM added, "Our regulatory frameworks have evolved with market needs - balancing investor protection with innovation and flexibility - creating a more conducive environment for long-term investment." One of the standout examples presented by Sitharaman was India's transformation in the renewable energy sector. From just 2.8 GW of solar energy installed in 2014, India has expanded its capacity to over 110 GW. This success, she said, "was enabled by clear national targets, streamlined procurement, and government-backed risk mitigation. This model attracted institutional investors, including pension and sovereign wealth funds." On the sidelines of the FFD4 Summit, Sitharaman also held bilateral meetings with various global leaders. She met Shane Reti, New Zealand's Minister of Science, Innovation and Technology, Universities, Statistics, and Pacific Peoples. Both ministers discussed cooperation in defence, education, technology, and agriculture. The two leaders reaffirmed the shared democratic values and strong people-to-people ties between India and New Zealand. Sitharaman also spoke about India's growing International Financial Services Centre at GIFT City and highlighted investment opportunities in banking, bullion exchange, capital markets, the FinTech ecosystem, insurance, and reinsurance. She also noted the importance of educational ties, with many Indian students pursuing higher education in New Zealand. The Finance Minister also held talks with Reem Alabali-Radovan, Germany's Federal Minister for Economic Cooperation and Development. Sitharaman congratulated her on her new role and discussed cooperation under the India-Germany Green and Sustainable Development Partnership. The discussions included collaboration in areas such as green energy, urban mobility, sustainable urban development, and ecological livelihoods. Minister Alabali-Radovan expressed interest in deepening bilateral ties and enhancing cooperation with India. Sitharaman is leading an Indian delegation from the Department of Economic Affairs during this official trip from June 30 to July 5. Her itinerary includes a visit to Lisbon, Portugal, where she will hold a bilateral meeting with the Portuguese Finance Minister and interact with the Indian diaspora and investors. In Rio de Janeiro, Brazil, she will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also participate in the BRICS Finance Ministers and Central Bank Governors Meeting. She is also expected to hold bilateral discussions with her counterparts from Brazil, China, Indonesia, and Russia. (ANI)
Hans India
4 days ago
- Business
- Hans India
FM upbeat on India's GDP growth
New Delhi: India will continue to be the fastest-growing economy at the current rate of growth, or even better, and with the monsoon being good, agriculture will definitely come up with a more positive number, Finance Minister Nirmala Sitharaman said on Monday. The GDP growth accelerated to a robust 7.4 per cent in the fourth quarter of 2024-25, as result of which the growth rate for the full financial year works out to 6.5 per cent on the back of a strong performance of the agriculture, construction, and services sectors, according to latest RBI data. In a series of posts on X social media platform, taken out from media interviews, the Finance Minister said this growth rate will continue, and may even become better with good monsoon around. The FM began an official visit to Spain, Portugal and Brazil from Monday to July 5 (Saturday).The Finance Ministry said: 'She is leading the Indian delegation from the Department of Economic Affairs under the Ministry of Finance.' She further said that deepening of our markets is actually showing and 'the retailers are benefitting, ordinary citizens are benefitting'. 'Our systems are transparent. They are digitised and can be accessed from home. Individuals are able to do it on their own rather than depend on others to help them out. These are signs of a very good dynamic economy,' FM Sitharamanemphasised. According to her, it is clear from the policy that labour-intensive units will be given support.
