Indian oil giants to buy stakes in Russian oil fields for $4.2 billion
In quest of safeguarding India’s energy security through overseas acquisitions, ONGC Videsh Ltd (OVL) and a consortium led by Indian Oil Corp have signed pacts to buy stake in two Russian oil fields for an estimated $4.2 billion. IOC, BPCL and Oil India signed a sale purchase agreement (SPA) for 29.9 per cent stake in […]
Aadhaar Bill a game-changer for Modi’s financial inclusion plans
India’s Prime Minister Narendra Modi’s financial inclusion efforts has received a fresh impetus, with the successful passage of the the Aadhaar Bill in the Lok Sabha (lower House), discarding the amendments proposed by the Rajya Sabha (upper House). The Aadhaar Bill intends to facilitate targeted delivery of subsidies and services to individuals residing in India […]
US to ease trade restrictions on Cuba ahead of Obama visit
In a move, which could potentially broaden Cuba’s access to the global economy, the US has decided to ease trade restrictions on its southern neighbour. Ahead of US President Barack Obama’s historic visit to Cuba on March 20, the US administration eased restriction on US-Cuba trade, financial transaction and travel. Mr Obama’s visit intended to […]
Syrian government, opposition reject Kurds’ ‘federal region’
As Syria struggles to bring back normalcy in the country, the Syrian government and its opponents have rejected a declaration of a federal region in northern Syria by Syrian Kurds. The Syrian foreign ministry said in a statement that the declaration made in the town of Rmeilan in Syria’s Hassakeh province is unconstitutional and worthless. […]
Myanmar in China’s Push into the Indian Ocean
China, of late, has been pitching to increase its influence in the Indian Ocean through Myanmar by building a deep-water port, which includes a special economic zone (SEZ) at the cost of US$280 million. The project is coming up at Kyaukphyu in the troubled southwestern Rakhine Province of Myanmar. The Kyaukphyu SEZ project was awarded […]