Prime Minister Narendra Modi inaugurated Asia’s biggest Bio-CNG plant in Indore. The plant has been set up on a 15-acre ground that was initially used as a dumping zone. Chief Minister Shivraj Singh Chouhan was highly appreciated for setting up the bio-CNG plant in a very short span of time at Devguradia. Mr. Modi added that the project will serve as an inspiration to other cities in the country. Mr. Modi said that the efforts were made under the Swachh Bharat-2 campaign. The initiative was taken to remove piles of garbage from vast chunks of land that are present in several cities of
Janet Yellen, U.S. Treasury Secretary, will urge her counterparts at the G20 this week to advance efforts to end the COVID-19 pandemic in developing countries and ensure they have the resources they need for an equitable recovery. According to the U.S. Treasury official, Yellen is scheduled to attend the meeting of G20 finance ministers and central bank governors, on Thursday and Friday, which will be hosted by Indonesia. Initially, the finance meeting of G20 was planned in person in Bali. However, the venue was changed to Jakarta in January due to a hybrid gathering with many officials
The India-UAE Free Trade Agreement (FTA) is likely to be signed soon between the nation. This agreement is expected to increase the exports of gems and jewelry to the United Arab of Emirates. Due to the pandemic, the export of gems and jewelry was badly hit. From April 2021- to January 2022, UAE witnessed the highest fall of 41.50% among the top 10 gem and jewelry export destinations. This list was followed by Belgium with a 15.81% fall and Hong Kong with a 3.06% fall as compared to April 2019-January 2020. The Gem & Jewels Export Promotion Council (GJEPC) has recommended the govern
Singapore and Cambodia will strengthen their cooperation particularly in new areas of mutual interest like agri-trade, infrastructure development, connectivity, digital economy, and fintech. Dr. Balakrishnan said, “We both urged the Myanmar military authorities to swiftly and fully implement the FIve-Point Consensus, including by facilitating the Special Envoy’s visit to Myanmar to meet with all parties concerned”. Dr. Balakrishnan expressed regret that there had been no significant progress in implementing the Consensus. According to the ASEAN "five-point consensus" reached in Ap
On Thursday, India’s Commerce and Industry Minister Piyush Goyal and his Australian counterpart Dan Tehan discussed the proposed free trade agreement (FTA). the meeting was aimed to promote the economic ties between the two nations. Mr. Goyal tweeted, “Had comprehensive talks over lunch with my good friend and Australian Trade Minister Dan Tehan in New Delhi. We had an engaging discussion on easy to further deepen India-Australia economic and trade ties”. The Australian Minister is in India to advance negotiation on the proposed FTA that is officially dubbed the Comprehensive Econ
From January to December 2021, the US Census Bureau reported that bilateral trade between India and the US amounted to $113.391 billion. Over $73 billion worth of goods were exported by India, and about 40 billion worth were imported. US-India bilateral trade has been on an upward trajectory for 20 years and has shrunk year on year only three times since 2002, according to Richard M. Rossow, the Wadhwani Chair in US-India Policy Studies at the Center for Strategic and International Studies. Trade fell from $92.1 billion in 2019 to a little over 78.2 billion in 2020, which was an unusual
After pandemic restrictions were relaxed across the country in 2021, the British economy grew by 7.5 percent, its strongest year of growth since the Second World War. According to The Office for National Statistics, the rise in the gross domestic product, which exceeded Bank of England projections, came despite a 0.2% contraction in the economy in December because of the outbreak of Omicron, which led to tougher restrictions. With the UK sighting the fastest growth in the G7 last year along with GDP remaining at the GDP pre-pandemic levels in December, Chancellor of the Exchequer, Rishi
The United Arab of Emirates secured the first position worldwide in the latest Global Entrepreneurship Index. UAE outperformed major global economies like the US, Japan, UK, Canada, South Korea, and some major EU countries. The nation has the highest total score of 6.8 by a clear margin having approved in 11 of the 13 framework conditions. It was named as the best place to start a new business followed by 6.3 scored by the Netherlands, 6.2 by Finland, 6.1 by Saudi Arabia, Lituania with 6.1 and 5.7 by South Korea. In the last years, GEI ranked Emirates in the fourth position which is com
A final stage of talks in Vienna has resulted in progress that led to a 2% drop in oil prices early on Tuesday. Talks to bring Iran and the United States back to the Iran nuclear deal reached a crucial stage. The New York Stock Exchange reported that as of 10:32 a.m. Eastern Standard Time, WTI Crude was trading at $89.58 a barrel, down by 1.91% on the day. The price of Brent Crude fell 1.88% to $90.93 as diplomats from Iran and the countries still part of the Joint Comprehensive Plan of Action (JCPOA) resumed talks to salvage the deal on Tuesday. In the midst of pressure for results, the t
On Monday, France's Finance Minister said the country is creating a multi-billion euro fund to boost investment in Europe's tech sector, so it can compete against US and Asian firms. Mr. Bruno Le Maire said if European tech start-ups are to reduce their dependence on foreign firms, they will need far higher levels of financing. On Tuesday, he added that a new fund of funds will be announced along with his German counterpart Christian Lindner, who said it would feed between 10 and 20 funds worth up to one billion euros (S$1.5 billion) to finance tech companies. Mr. Le Maire said, “O