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NEW DELHI : India and Saudi Arabia have begun discussions on trading in national currencies, officials from the ministry of external affairs said after a visit by Saudi Crown Prince Mohammed Bin Salman. The idea was currently in the “discussion stage", said Ausaf Sayeed, secretary in the ministry. “The Saudi side is aware that we have worked out similar arrangements with other countries in the region.

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.

China said on Monday that it welcomes the India-Middle East-Europe Economic Corridor announced on the sidelines of the G20 summit so long it doesn't become a «geopolitical tool», even as it downplayed Italy's plan to pull out of its Belt and Road Initiative (BRI). China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said. «At the same time, we advocate that various connectivity initiatives should be open, inclusive, and form synergy, and should not become geopolitical tools,» the ministry said in a written response to PTI to a question on China's reaction to the new corridor. On Saturday, Prime Minister Narendra Modi announced plans to launch the India-Middle East-Europe Economic Corridor which includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US. «Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia and Europe,» Modi said.

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.

ET has gathered that the India-US Global Challenges Institute will soon take off as a virtual platform with a ten-member Governing Council co-chaired by the two countries and a physical secretariat/program office expected to be housed in New Delhi. While IIT Kanpur will lead the initiative from India with Director Abhay Karandikar representing Indian institutes as India’s co-chair, the US side is expected to bring in Association of American Universities President Barbara R Snyder as co-chair. The Institute will start off with a $10mln seed funding- jointly pitched by the US and India- to fund collaborative R&D in five-six key areas across partner institutes in the two countries. The first set of areas identified for collaboration are- sustainable energy and agriculture, health and pandemic preparedness, semiconductor technology and manufacturing, advanced materials, telecommunications, artificial intelligence, and quantum science. ET gathers that the Institute will start off with five joint research projects- funded with $2million each. The idea is have two lead institutes from both countries for each project and these in turn will be linked to several other project specific institutes- like a hub and spoke model. A Memorandum of Understanding (MoU) has already been inked between Indian universities, represented by the Council of Indian Institutes of Technology (IIT Council), and the Association of American Universities (AAU) to establish the India-U.S.

Saudi Arabia have signed a memorandum of understanding on cooperation and investment in renewable energy, energy efficiency, hydrogen, electricity, and grid interconnection. The pact also includes cooperation on petroleum, natural gas, strategic petroleum reserves and energy security, sources aware of the development said. Circular carbon economy and technologies like carbon capture, utilization and storage also found place in the agreement. The move comes right after the G20 New Delhi declaration, where a consensus was formed on various issues, including an effort for tripling renewable energy capacity by 2030 and phasedown of unabated coal power. India’s National Green Hydrogen Mission aims for at least 5 million metric tonnes of annual production capacity by 2030 through renewable energy sources, whereas Saudi Arabia’s clean hydrogen is likely to be based on low carbon emission technologies. Partnership on localising sourcing material, products and services related to the energy sector, and supply chains and its technologies, were agreed on. The countries will strengthen the cooperation with energy companies, promote digital transformation, innovation, cyber-security, and artificial intelligence in the energy sector. As per India’s green hydrogen mission, the country aims to be an export hub for the fuel.

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.

G20 Summit in Delhi was the committment to build a rail-and-port network that will connect India to the Middle-East and the Middle-East to Europe and the US. It has been named the India-Middle East-Europe Economic Corridor (IMEC).

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.

China on Monday said the G20 New Delhi Leaders' Declaration has sent a «positive signal» that the member countries of the influential grouping are joining hands in tackling global challenges and economic recovery.

Trudeau was in India for the G20 Leaders' summit on Sunday, Khalistani secessionists held a so-called ‘Referendum’ in Surrey, British Columbia. Designated terrorist Gurpatwant Singh Pannun, the founder of the banned Sikhs for Justice (SFJ), was present at the gathering of the Khalistani separatists held at the Guru Nanak Singh Gurudwara in Surrey, Vancouver. In a provocative speech, Pannun used intimidating language against Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and other leaders. He claimed that the separatists were challenging the territorial integrity of India. Prime Minister Modi had on Sunday raised “strong concerns” about the continuous “anti-India activities” by extremist elements in Canada in his pull-aside meeting with Canadian PM Justin Trudeau. Prime Minister Modi stated that it was essential for the two countries to cooperate in dealing with such threats. “The Prime Minister conveyed our strong concerns about continuing anti-India activities of extremist elements in Canada.

Producers of gas on the east coast have so far declared they have about between 188 and 237 petajoules of uncontracted gas for sale over the next two years, but the disclosure has failed to eliminate worries about declining supply that could mean shortages next winter.

Narendra Modi on Monday said that the India-Saudi Arabia partnership is crucial for the stability, and welfare of the region and world. PM Modi at the India-Saudi Arabia Strategic Partnership Council meeting said, “We are adding a new dimension to our ties in tune with changing times.

reality. India, as chair of the G20, has sensibly pressed for finding ways to enhance international tax transparency in real estate. The outcome is the Organisation for Economic Cooperation and Development (OECD) outlining a robust framework to track tax evaders using real estate deals to hide their undeclared incomes.

On Monday, Bitcoin price experienced a minor decline of 0.50%, trading at $25,742. This shift in value comes amidst India's contemplation of regulating the cryptocurrency sector in alignment with the IMF-FSB guidelines. 

India, Delhi and Riyadh have explored the possibility of offering artist residencies and holding joint training programmes in cultural domains such as film, culinary arts, and visual arts. The two sides have also discussed mechanisms for preserving intangible cultural heritage and historical sites. These programmes will introduce Indians to Saudi culture and vice versa and will foster mutual understanding and collaboration in various fields, Saudi Minister of Culture Prince Bader bin Abdullah bin Mohammed bin Farhan Al Saud told ET’s Dipanjan Roy Chaudhury in an exclusive interview.Q: The Ministry of Culture’s recent participation in the 4th G20 Culture Ministers' Meeting highlighted the importance of cultural cooperation among nations. In what ways has the Kingdom of Saudi Arabia contributed to the G20 Cultural Track?A: The Kingdom’s contributions to the G20 Cultural Track stem from our belief that culture is fundamental to the human experience, as it both expresses and shapes our humanity.

Indian Air Force on Monday informed that the Bright Star-23 exercise has entered the culmination phase which will involve more complex joint missions involving assets of all participating forces. A 137 personnel contingent of the Indian Army had departed for Exercise Bright Star- 23 on August 29.

Andhra Pradesh Chief Minister N Chandrababu Naidu has been arrested in connection with a Rs 371 crore corruption case, casting a shadow over the political landscape of the state just months before crucial elections. This move comes as a blow to Naidu's Telugu Desam Party (TDP), as several other prominent leaders from the party are also implicated in the alleged scam, which revolves around the Andhra Pradesh State Skill Development Corporation, established during Naidu's tenure. The investigation, led by the Crime Investigation Department (CID), has raised questions about the involvement of Naidu's son and TDP general secretary, Nara Lokesh, in the case, further intensifying the scrutiny surrounding the former Chief Minister's family. The alleged misappropriation of funds intended for the upskilling of unemployed youth in Andhra Pradesh has created a significant stir in the political arena.

Narendra Modi, and other ministers during the event. “I am very glad to be here in India. I want to congratulate India for the G20 Summit...A lot of announcements have been made that will benefit G20 countries and the world.

G20 Summit in Delhi on Friday. Speaking to ANI, Rishi Sunak said, "Both Modi Ji and I are keen to see a comprehensive and ambitious trade deal concluded between our two countries. Both of us think that there is a good deal to be done." The British premier stressed there was “still hard work to do" and said an agreement had to “work for both countries", as per Bloomberg reports, citing ANI. “I think there is an enormous opportunity for both India and the UK to strengthen our economic cooperation which will bring real benefits to our citizens in both countries," the UK PM added.