Bhutan Financial News

Anant Ambani, the youngest son of Reliance chairman Mukesh Ambani, will wed Radhika Merchant, the daughter of industrialist Viren Merchant, on July 12 in Mumbai. The list of international guests expected to attend the pre-wedding celebrations in Jamnagar in early March reads like a veritable who's who of the global business elite. It includes Microsoft founder Bill Gates, Meta CEO Mark Zuckerberg, BlackRock CEO Larry Fink, Blackstone chairman Stephen Schwarzman, Disney CEO Bob Iger, Ivanka Trump, Morgan Stanley CEO Ted Pick, Bank of America chairman Brian Thomas Moynihan, Qatar Premier Mohammed bin Abdulrahman bin Jassim Al Thani, Adnoc CEO Sultan Ahmed Al Jaber, EL Rothschild chair Lynn Forester de Rothschild, the king and queen of Bhutan, tech investor Yuri Milner and Adobe CEO Shantanu Narayen, among others. The bride and groom recently celebrated their Lagan Lakhvanu. The auspicious ritual, which includes written invitations offered first to the Gods and then to close family, took place on February 16 at Jamnagar, Gujarat, at the Ambani family estate. During the ceremony, bride-to-be Radhika donned a custom-made lehenga by Anamika Khanna.

Arunachal Pradesh keep prospering for years to come," he said. Arunachal Pradesh attained full statehood on February 20, 1987, with the Fifty-Third Amendment of the Indian Constitution, 1986, becoming the 25th state of the Indian Union. Since then, February 20 has been celebrated as Statehood Day of the Himalayan state.

India has allowed exports of onions on government-to-government basis to some countries, on recommendation of the Ministry of External Affairs, said people aware of the matter. One of the persons said a limited quantity of onion exports has been allowed for bilateral purposes though no decision has been taken on lifting a complete ban on onion exports. Details of the exporting agency could not be ascertained. Another person said the government has permitted exports of onions in limited quantities to Bangladesh, Sri Lanka, Mauritius, Bahrain, Bhutan and Nepal, among others.

Bhutan's Prime Minister Tshering Tobgay is keen on visiting India following New Delhi's invitation to discuss new areas of cooperation, including connectivity and business, ET has learnt. Tobgay is no stranger to India and he has been invited following his re-election as Bhutan's PM. India had started engaging with the new Bhutanese government as soon as it was elected, with foreign secretary Vinay Kwatra meeting Tobgay on the first day of his second term last month. Tobgay is also keen to host Prime Minister Narendra Modi, it is learnt. Kwatra was on a three-day visit to Thimphu to engage with the new government to discuss new initiatives, including Bhutan's next five-year plan, fresh development support from the Indian government, and energy partnership and cross-border connectivity initiatives. New Delhi has stepped up engagements with Thimphu, a move seen as counterbalancing China's growing inroads in Bhutan, and has been observing the trajectory of ties, particularly the boundary talks. The territorial dispute between Bhutan and China covers an area of about 764 sq km--269 sq km in western and 495 sq km in north-central Bhutan. New Delhi is concerned over China's claim over areas in the vicinity of Doklam in western Bhutan. In return, Beijing wants to narrow or give up its territorial claims in the north-central region of Bhutan. Thimphu has assured New Delhi that it will not undermine India's interests while negotiating a boundary treaty with Beijing.

Act East Policy Affairs Minister Chandra Mohan Patowary said that the Act East Policy, under the stewardship of Prime Minister Narendra Modi, has reinvigorated India's engagement with its Eastern neighbours, while the country’s relationships with Bangladesh and Bhutan have seen a new era of cooperation in areas of trade, transit and water resources management. Patowary today attended the inaugural session of “Act East through Northeast 2.0 — The Round Table Conference on Inter Country Economic Corridor through Northeast of India for Inclusive Growth” held at a city hotel. Building on the momentum of the previous successful conclave in 2022, the second instalment of the roundtable conference organised by Act East Policy Affairs Department, Govt of Assam aims to explore the fresh opportunities presented by the Act East Policy for the Northeast region. It also seeks to develop a strategic framework for enhancing economic and cultural connections with Southeast Asian countries, with a focus on bolstering bilateral relations with neighbouring Bangladesh and Bhutan.

RBI) signed terms of reference (ToR) with Nepal Rastra Bank on Integration of Unified Payments Interface (UPI) of India with National Payments Interface (NPI) of Nepal for cross-border remittances. The banking regulators of India and Nepal signed and exchanged Terms of Reference for integration of cross border payment between the two countries. The integration is aimed at facilitating cross-border remittances between India and Nepal by enabling users of the two systems to make instant, low-cost fund transfers.

UPI payments are accepted in France, UAE, Singapore, Bhutan, and Nepal. After the announcement, MyGovIndia shared a world map, highlighting the countries where Indians can use UPI to make payments. UPI is India's mobile-based fast payment system, allowing customers to make instant payments round-the-clock using a Virtual Payment Address (VPA).

foreign direct investment (FDI) from China in Paytm Payments Services Ltd (PPSL), a subsidiary of Paytm parent One97 Communications Ltd, PTI reported citing sources. Paytm Payments Services applied for a licence with the Reserve Bank in November 2020 to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, the apex bank rejected PPSL's application in November 2022.

The Congress leader was speaking at a talk show at the Kolkata International Book Fair. According to the report, he said that while relations with Maldives at present are not good, that with Sri Lanka was not too bad, while that with Bangladesh is pretty good. "Relations with Pakistan are in bad shape, Nepal is more and more subject to Chinese influence and Chinese influence is also increasing in Bhutan," Tharoor said while talking about India's position vis-a-vis smaller countries in the periphery.

IHCL said its portfolio at 285 hotels includes a pipeline of 85 hotels. Suma Venkatesh, executive vice president — real estate and development, IHCL said 2023 marks six consecutive years of portfolio expansion in the Indian subcontinent. «Our approach to growth has been two pronged, penetrating deeper in existing markets with multiple brands and extending our footprint to new destinations taking our presence to over 130 locations,» she added.

PTC India Limited, provider of power trading solutions in India announced commencement of power supply from Nikachhu Hydroelectric Project, Bhutan to Assam under Long Term PPA. PTC executed the PPA with Bhutan and PSA with Distribution Company of Assam (APDCL) in 2014. Dr. Rajib K.

Ahmedabad-Mumbai bullet train project, the Chief Representative of JICA India, Saito Mitsunori, said that the PM Gati Shakti plan has accelerated public works in the country. In an interview with PTI, Mitsunori also expressed Japan's interest in enhancing India's border road networks and participating in the transnational power transmission project with Bhutan, Nepal and Bangladesh.

NEW DELHI : Japan International Cooperation Agency (JICA), the country’s development aid agency, is working with India on a roadmap to reduce carbon emissions in the power sector, Saito Mitsunori, the chief representative of the agency’s India Office said. JICA is also in talks with the central and state governments to fund more projects to improve connectivity with Bangladesh, Nepal and Bhutan, Mitsunori said.

Army is enhancing deployments, reorienting units and strengthening its intelligence network in the Poonch-Rajouri region that has seen scaling up of terror activities, Army chief Gen Manoj Pande has said. Relentless operations will be carried out till the area returns to normal, he said. Reiterating that there will be zero-tolerance for human rights violations, the Army chief said that follow-up action is being taken on the alleged killing of civilians in custody and the impacted village has been adopted by the Army for the welfare of locals. «Strengthening of the human intelligence network, outreach to locals and strengthening our ability to get technical intelligence in terms of communication is something we are working on.

Henley Passport Index, released on Tuesday, India's passport has ascended to the 80th position worldwide. This elevated ranking now affords Indian citizens the privilege of unhindered exploration across 62 countries, alleviating the burden of intricate visa application procedures. The assessment of this ranking aligns with visa regulations effective as of January 11, as sourced from data provided by the International Air Transport Association (IATA). A cornerstone in displaying, organizing, and ranking global passports, the Henley Passport Index, reveals six countries — France, Germany, Italy, Japan, Singapore, and Spain — jointly holding the prestigious title of the world's most potent visa. Citizens from these nations enjoy the unprecedented freedom to traverse over 194 countries without dealing with pesky visa requirements. On the flip side, Afghanistan sits at the bottom rung of the list, granting its passport holders access to a mere 28 countries without a visa. Syria closely follows with visa-free entry to 29 destinations, trailed by Iraq with 31, and Pakistan with 34. Indian passport bearers can now revel in the liberty of visiting 62 countries, including Oman and Qatar, without the encumbrance of a visa. These destinations extend either visa-free entry or the convenience of visa-on-arrival for Indian travelers, as elucidated by the Henley Passport Index 2024. Here is the full list of destinations Indians can visit without getting a visa before travel:

Tshering Tobgay's party, the People's Democratic Party (PDP), on Tuesday scored a resounding victory in Bhutan's parliamentary elections. The party clinched almost a two-thirds majority, winning 30 seats of the 47 national assembly seats to return to power. The Bhutan Tendrel Party (BTP) navigated its way through the competitive landscape, securing 17 seats.

Sheikh Hasina is set to return to power for a fourth straight term in office as early results point to sweeping victory for her party, Awami League, in the parliamentary elections. The polls were boycotted by the main Opposition Bangladesh Nationalist Party. India's close partner in the eastern neighbourhood went to polls on Sunday. Chief Election Commissioner Kazi Habibul Awal said the 12th Jatiya Sangsad elections were held almost peacefully, with around 40% voter turnout.

incumbent Prime Minister and New Delhi's close ally, Sheikh Hasina, looks to return to power for the fourth straight term amid boycott by the Opposition Bangladesh Nationalist Party. A total of 1,896 candidates are in the fray for the 300 seats. This time, 5.1% of the total candidates are women — the highest such share ever. Counting will begin after polls end on Sunday afternoon.

external affairs ministry announced that, as part of its development assistance programme, India has extended 308 lines of credit aggregating to $32.02 billion to partner countries over the years. Of this, about $17.06 billion has been extended to Asia, $12.15 billion to Africa and $2.81 billion to others, it said. Around 600 projects have been taken up and executed in several sectors, including infrastructure, power, connectivity, agriculture, education and health, the minister of state for external affairs V Muraleedharan informed the Rajya Sabha on Thursday. He said grant assistance projects are concentrated primarily in India’s neighbourhood in Afghanistan, Bangladesh, Maldives, Myanmar, Nepal, Sri Lanka and Bhutan. “India’s developmental projects are based on the needs and aspirations of the partner countries. The main instruments of support include lines of credit, grants-in-aid as well as capacity building programmes.

In a move that could reshape its economic landscape, Bhutan has announced the establishment of a new Special Administrative Region (SAR) in Gelephu, strategically located along its border with India. The announcement, made by King Jigme Khesar Namgyel Wangchuk during his National Day speech on 17 December, signals Bhutan's intent to revitalize its economy by leveraging its geographical position to bridge South and Southeast Asian markets. Mint explores what this means for Bhutan and the wider South Asian region, with a special focus on India's role in this ambitious endeavour.

Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India. Azar, who is in his late 50s, will also serve as the non-resident Ambassador to Sri Lanka and Bhutan, a statement from the Israeli Ministry of Foreign Affairs said. His appointment is one of the 21 new Heads of Missions cleared by the Israeli government to assume service soon.