City Kazan, Russia Financial News

21.10 / 17:55

markets Digital Experts PAM Schools peace India’s diplomatic tightrope: Kazan summit marks key moment in global leadership role

BRICS meets for the first time in Kazan, Russia, a potential inflexion point for a group that has so far failed to have an unifying narrative. India has been the bulwark against the attempt to give it an ideological 'anti-West' slant. India could continue to play that role or, better still, leverage the expanded membership — each new member was on its wish list — to define India's neutral pathway. Kazan is not just another BRICS summit. It's a critical moment in India's self-fashioning journey on the global stage. From the moment Russia invaded Ukraine, India has argued its choices in terms of multipolarity, historical ties, defence needs, strategic alliances and partnerships, and economic needs. Kazan offers India an opportunity to emerge not as the ace tightrope walker balancing West and 'anti- and not-so-pro-West' interests, but as a proactive neutral voice committed to a rules-based world order. Kazan should provide the occasion when it can emerge as the 'Switzerland' of our times.

07.03 / 07:47

markets UPS Cooper country dance International Hindi-Chini bhai bhai 2.0? ‘Dragon and elephant must dance together’, says China FM, pushing for stronger Sino-India ties

Wang Yi stated, «China has always believed that being mutually supportive partners and achieving the 'Dragon and Elephant Dance' is the only correct choice for both sides.» Over the past year, relations between the two countries have seen positive developments. A key moment was the October 2024 meeting in Kazan, Russia, where Chinese President Xi Jinping and Indian Prime Minister Narendra Modi held talks that provided strategic direction for improving ties. «China-India relations have made positive strides over the past year,» Wang said. Both sides have since actively followed through on their commitments, strengthening diplomatic engagement and practical cooperation at multiple levels.

06.03 / 02:35

markets UPS security country 2020 Relationships India wants stability with China but seeks ‘respect’ for its interests: EAM S Jaishankar

S. Jaishankar said during a discussion at Chatham House, a British policy institute. He acknowledged that the relationship has been shaped by decades of ups and downs, but the real challenge is managing the balance as both nations rise. Reflecting on the last 40 years, Jaishankar noted that peace along the border was seen as essential for better ties. However, the situation changed dramatically in 2020 when Chinese forces clashed with Indian troops in the Galwan Valley, leading to the deaths of around 20 Indian soldiers and multiple Chinese casualties. It was the most serious border confrontation in 45 years.

27.02 / 12:47

markets UPS security President peace India, China militaries implementing resolutions to end Ladakh conflict in comprehensive, effective manner: Chinese Defence Ministry

Chinese Defence Ministry on Thursday said the militaries of India and China are implementing the resolutions to end the standoff in eastern Ladakh in a «comprehensive and effective manner.» «At present, the Chinese and Indian militaries are implementing the resolutions related to the border areas in a compressive and effective manner,» Chinese Defence Ministry Spokesman Sr Col Wu Qian told a media briefing here, replying to a question on the status of the normalisation of the situation in eastern Ladakh sector.

27.01 / 08:03

markets Digital Strategy President PAM country Foreign Secretary Vikram Misri, Chinese Foreign Minister Wang Yi hold talks in Beijing

Foreign Secretary Vikram Misri held a meeting with Chinese Foreign Minister Wang Yi in Beijing on Monday. Wang Yi noted that India and China have implemented the important consensus reached by Prime Minister Narendra Modi and Chinese President Xi Jinping during their meeting held in Russia's Kazan last year.

11.12 / 17:05

markets MET Software country Successful Modi-Xi meeting signifies new beginning of India-China ties: senior CPC official

Narendra Modi and President Xi Jinping in Russia in October «signified a new beginning» of India-China relations, a senior minister of the ruling CPC has said. Liu Jianchao, Minister of the International Department of the Chinese Communist Party of China (CPC) was referring to the Modi-Jinping meeting at Kazan in Russia on the sidelines of the BRICS summit in Russia while speaking with the Indian envoy to China, Pradeep Kumar Rawat, on Tuesday, official media said on Wednesday. The restarting of China-India relations meets the fundamental interests of the 2.8 billion people of the two countries, corresponds to the common expectations of the Global South and is also in line with the correct direction of history, he said.

20.11 / 10:53

markets Provident Platform Trade reports International The idea of a Brics currency is looking like a charade

Subscribe to enjoy similar stories. Last month’s Brics summit in Kazan, Russia, was, like all summits, heavy on photo ops. And it yielded a second act that was similarly heavier on symbolism than substance: the release of a report by the Russian finance ministry and central bank on “improvement of the international monetary and financial system," by which Russian officials obviously meant “finding an alternative to the weaponized dollar." Expressions of dissatisfaction with the dominance of the dollar over global money and finance go back at least to French finance minister Valéry Giscard d’Estaing in 1965, who famously lamented the greenback’s “exorbitant privilege." Indeed, the desire for an alternative played no small part in the creation of the euro 34 years later.

01.11 / 06:57

Digital Platform War country reports International A surprise new twist in Putin’s currency wars

Subscribe to enjoy similar stories. WHEN THE Bank for International Settlements (BIS) launched mBridge in 2021, a project aimed at revolutionising cross-border payments, it did so with much fanfare and, among some people, high expectations. The new system, which it was developing with China and others, would harness the power of digital currencies and the trustworthiness of central banks to make international financial flows faster, simpler and cheaper, it said.

28.10 / 03:23

Provident Merit Trade Diversity International Brics for India: A trade springboard, not an anti-West wall

Subscribe to enjoy similar stories. The recent Brics summit in Kazan, Russia, has generated its usual share of criticism and praise. Reactions have ranged from disapproval of such a disparate grouping of nations based on the whimsy of a banker to the outright condemnation that such a diverse bunch should harbour any delusions of meaningful utility.

24.10 / 19:49

Cooper Fighting President country isolate peace Putin ends BRICS summit that sought to expand Russia's global clout but was shadowed by Ukraine

Russian President Vladimir Putin has presided at the closing session of a summit of the BRICS bloc of developing economies, hailing its role as a counterbalance to the West

23.10 / 21:43

Cooper Action economy President country peace Financial cooperation and BRICS expansion are on the table as Putin hosts Global South leaders

Russia’s President Vladimir Putin is hosting China’s Xi Jinping, India’s Narendra Modi and other world leaders at a summit of the BRICS bloc of developing economies, part of Kremlin efforts to challenge Western global clout

23.10 / 13:13

UPS MET economy country 2020 International India and China should properly manage differences, Xi Jinping tells PM Modi in first formal talks in 5 years

Both sides should take on their international responsibilities and set an example for the development of other emerging economies, Chinese state broadcaster CCTV cited Xi as saying in a meeting with Modi on the sidelines of the BRICS summit in Russia's Kazan. PM Modi and Xi Jinping held their first bilateral talks in five years today, signalling that ties between the Asian giants damaged by a deadly military clash in 2020 had begun to recover.

22.10 / 14:45

markets Reuters Digital country reports International Will Vladimir Putin do at BRICS what America dreads the most?

BRICS Summit 2024 at Kazan in Russia will be watched keenly by the United States. The BRIC grouping, including Brazil, Russia, India, and China, was formally started in 2006. In 2009, the first BRIC Summit was held in Russia.

22.10 / 09:51

Citi Action economy President country isolate Putin hosts Global South leaders at BRICS summit intended to counterbalance Western clout

China’s Xi Jinping, India’s Narendra Modi and other global leaders have arrived in the Russian city of Kazan for a summit of the BRICS bloc of developing economies that the Kremlin hopes to turn into a rallying point for defying the Western liberal order

21.10 / 17:39

markets Provident Digital Action President 2020 "After disengagement, we should look at de-escalation...": Former Foreign Secy Harsh Shringla lauds India-China agreement on patrolling

Shringla has said that agreement between India and China on patrolling arrangements along the Line of Actual Control in eastern Ladakh is likely to lead to de-escalation and provides an opening for Prime Minister Narendra Modi and Chinese President Xi Jinping to meet on the sidelines of BRICS Summit in Russia this week. Shringla, who was Foreign Secretary when actions of Chinese army led to a standoff along LAC in eastern Ladakh in May 2020, told that a fairly firm hand in the negotiations has brought about a satisfactory conclusion. «I think the agreement gives us a way to move forward, provides an opening for leaders to meet, and possibly even take this into de-escalation — the thinning out of troops on the frontline. It will be recalled that China had massed troops at the time when hostilities began, and those troops are still there. So I think after disengagement, we should look at de-escalation,» Shringla told ANI.

10.06 / 18:55

WhatsApp President Latin travelers PM Modi likely to visit Italy for G7 Summit as invitee; may meet Xi Jinping in Kazakhstan

Narendra Modi's global outreach in his third term is expected to begin with a 24-hour trip to Italy for the G7 summit on June 14 where he is an invitee. In subsequent months, Modi may visit Kazakhstan for the SCO summit (July 3-4), followed by BIMSTEC meet in Thailand (September), BRICS summit in Russia (October), G20 summit in Brazil (November) and a probable trip to New York in September for the UN General Assembly and Summit of Future.

19.10 / 14:33

Citizens Google President country consequences information reports American Journalist Alsu Kurmasheva detained in Russia for over 4 months on 'Foreign Agent' charges, will she be jailed?

Alsu Kurmasheva, a U.S. journalist, over allegations of not complying with foreign agent registration requirements. Kurmasheva who is the Editor at Radio Free Europe-Radio Liberty (RFE/RL) has been confined to a detention centre in Russia’s Kazan. Her organization gets financial support from the US government. This occurrence represents the second instance of a U.S. journalist encountering legal custody in Russia during this year.

23.09 / 20:57

Digital Citizens Cross-border Is Russia set to approve cross-border crypto transactions

Russia’s Ministry of Finance and the Bank of Russia have agreed on a bill that will allow Russian citizens to engage in cross-border transactions using cryptocurrencies.

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