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marine gas turbines (MGT) that power warships and submarines of the Indian Navy. There is a sense of urgency to create a domestic ecosystem for such equipment given the war in Ukraine that has impacted Zorya-Mashproekt, the primary supplier of the MGTs to the Indian Navy. According to officials aware of the development, public sector undertaking Bharat Heavy Electricals Limited (BHEL) and Bharat Forge from the private sector are said to be among the companies that have been individually consulted for developing and supplying the MGT suited to the Indian Navy's needs. «Some inputs have also been provided by the Indian Navy to BHEL to aid the development of equipment and spares,» one of the officials quoted above told ET. The Ukraine-Russia conflict has impacted supply of spares and parts for MGTs. The move to develop indigenous options is also in line with the Make in India initiative to cut down imports of defence-related equipment.

As Washington seeks to exploit cracks in Russia’s traditional sphere of influence, U.S. forces began joint military exercises with troops from Armenia, the small South Caucasus country that has been a close Russian ally for nearly 200 years. In a possible sign of the geopolitical realignment driven by Russia’s invasion in Ukraine, U.S.

Saudi Arabia on Monday said the whole world is focused on one of the most successful G20 summits and never in the past, the consensus among members was achieved on Day 1 of the meeting. On September 9, India pulled off a big diplomatic win after the G20 Summit adopted a consensus declaration overcoming major differences over the Russia-Ukraine war. The announcement about a consensus on the 37-page declaration and its subsequent adoption was made by Prime Minister Narendra Modi at the start of the second session on the opening day of the two-day summit. «Today the whole world is focused on one of the most successful G20 Summit...As part of your family, I can tell you that we are really proud.

Russia’ as the latter embarks on a visit to Russia where he is expected to hold a highly anticipated meeting with President Vladimir Putin. The meet, as declared by Russia and North Korea on Monday, has sparked Western concerns about a potential arms deal for Moscow’s war in Ukraine.

G20 meeting in New Delhi. Xi has not missed a single G20 since he came to power in 2012. Whether Xi’s absence is a snub aimed at India or whether China is turning against the construct of the G20 itself, only time will tell.

SEOUL—As North Korean leader Kim Jong Un traveled to Russia, he likely did so in the preferred manner of Pyongyang’s ruling family: cloaked in secrecy, self-protection and style. Kim, the third-generation dictator, plans to meet Russian President Vladimir Putin, state media from both countries said on Monday—the first official confirmation of the summit between the two leaders. The reports didn’t specify when or where specifically the exchange will take place.

G-20 Summit, describing its outcome as a diplomatic victory for Prime Minister Narendra Modi who is pushing to increase the country's influence on the world stage and pressing for reforms in global institutions, including the United Nations. India managed to hammer out the unexpected consensus among the G20 countries on the contentious Ukraine conflict through a series of hectic negotiations with emerging economies such as Brazil, South Africa and Indonesia playing a leading role in reaching the agreement on the declaration on the first day of the summit. The New Delhi summit declaration also called for reforming of international financial institutions, managing debt vulnerabilities of low and middle-income countries and the start of the exchange of tax-relevant information on crypto assets by 2027. «Some experts saw the agreement as a win for Russia, while others read it as an achievement for the West.

Richard Teng, the head of regional markets at Binance notes that the world’s largest cryptocurrency exchange has no operational similarity with collapsed FTX.

As the US President's two-nation visit to India and Vietnam came to an end on Monday, Joe Biden, was caught jokingly replied to a media person and said, “I tell you what, I don’t know about you, but I’m going to go to bed." During the press conference, Joe Biden made the comment in response to a question on why he didn't speak to Chinese president Xi Jinping.

Investing.com-- Oil prices fell from a near 10-month high on Monday, seeing a measure of profit taking after a stellar rally over the past month, although bets on tightening supplies still kept Brent above key levels. 

(Reuters) — Instacart is aiming for a valuation of up to $7.73 billion in its initial public offering in New York, the grocery delivery service said on Monday, in another step toward a hotly-anticipated listing.

By Robert Harvey and Natalie Grover

Surfing on Saudi-Russian production cuts, oil bulls will be seeking to defend the high price of $90 per barrel this week even with U.S. inflation data forecast to show a climb for a second straight month that could prompt the Federal Reserve to consider a more aggressive stance on interest rates.

Instacart is looking to raise up to $616 million along with selling stockholders in its initial public offering, a regulatory filing showed on Monday. The San Francisco-based company and its selling shareholders are offering 22 million shares priced between $26 and $28 apiece.

Diplomats and analysts said the surprise consensus in the summit statement on the Russia-Ukraine conflict avoided a split in the group, and the inclusion of the African Union as a new member represented a victory for host India and for developing economies, but the rest was disappointing. «The G20 has been at its best as a multilateral forum when it can forge consensus — not just on language, but on action — to deal with serious global issues, such as global financial crises,» said Michael Froman, president of the New York-based Council on Foreign Relations. «Looking ahead, the focus should be on that, not on the statement per se,» said Froman, a former U.S.

Project Samudrayaan. As per a TOI report, this ambitious project aims to plunge three individuals 6,000 meters beneath the ocean's surface in a homegrown submersible, all in the pursuit of precious metals and minerals, notably cobalt, nickel, and manganese. Dubbed «Matsya 6000,» this submersible has been in development for nearly two years and is now primed for its inaugural sea trials, slated to unfold in early 2024 off the Chennai coast in the Bay of Bengal.

RBI's) target range of 2-6 per cent. Official data on retail inflation will be released on Tuesday (September 12). According to the median of estimates by 18 economists in a Mint poll, India’s retail inflation likely eased to 7 per cent in August from July’s 15-month high of 7.44 per cent.

Binance regional markets head Richard Teng insists that the global cryptocurrency exchange is financially secure and in no way similar to bankrupt peer FTX despite recent regulatory scrutiny and regional challenges,

Russia-Ukraine crisis, India worked very closely with Brazil, South Africa and Indonesia. I want to say that it was the emerging markets which played a very key role. There was very tough, very ruthless negotiations for several days non-stop," said India’s G20 Sherpa Amitabh Kant during a press briefing.

Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Now, Germany's GDP is predicted to shrink by 0.4% in 2023 against 0.2% projected previously.

North Korean train presumably carrying North Korean leader Kim Jong Un has departed for Russia for a possible meeting with Russian President Vladimir Putin, South Korean media said Monday. Citing unidentified South Korean government sources, the Chosun Ilbo newspaper reported that the train likely left the North Korean capital of Pyongyang on Sunday evening and that a Kim-Putin meeting is possible as early as Tuesday. The Yonhap news agency and some other media published similar reports.