The World Trade Organization failed on Thursday to reach a deal to standardise customs rules, which would have been the first global trade reform in two decades but was blocked by India’s demands for concessions on agricultural stockpiling. “We have not been able to find a solution that would allow us to bridge that gap,” WTO Director-General Roberto Azevedo told trade diplomats in Geneva just two hours […]
NEW DELHI: Petrol became cheaper by Rs 1.09 per litre in Delhi from Friday after state oil companies slashed the price of the fuel for the first time since mid-April because benchmark gasoline rates in the international market dropped.
Companies, however, raised the price of diesel by 56 paise in Delhi, helping to reduce the gap between pump and market rates by about Rs 1.50 per litre and increasing the prospects of deregulating the fuel soon.
If the trend continues, diesel pricing could be freed from state control in three months, government and industry officials said. Prices of diesel sold to bulk consumers such as the railways and state transport companies at market rates have been reduced, IOCsaid in a statement.
Thousands of Irish volunteers fought with the British Army in the First World War Photo: PA By Daniel Mulhall 7:30AM BST 01 Aug 2014 At Dublin’s Glasnevin Cemetery yesterday, a significant event took place: the unveiling of a Cross of Sacrifice erected in conjunction with the Commonwealth War Graves Commission. In a cemetery associated with Ireland’s patriot dead, this new monument represents an important symbolic reflection of changed […]
A Toyota Prius modified to be a Google self-driving car Photo: EPA Driverless cars have been knocking around for decades. Newsweek magazine carried a wonderful advert featuring a self-driven bubble-top back in 1956. The occupants, a wholesome all-American family of mom, pop, boy and girl, were shown playing a board game around a table while their car followed a central painted line down the highway, with the tag […]
The European Commission has already said it will investigate the new policy statement from the Prime Minister to see if it complies with European law Photo: REUTERS The Prime Minister has scored a brilliant summer hit with the headline writers. “EU migrant benefit curbs fast-tracked”; “Government announces limits on EU migrants’ benefits access”; “New rules on migrant benefits to be announced as UK makes system more robust against […]
The U.S. sanctioned three Russian banks and a state-owned shipbuilder that serves Russia’s navy and oil and gas industry, joining with the European Union in escalating the penalties for Russia over its actions in Ukraine. “Russia is once again isolating itself from the international community, setting back decades of progress,” President Barack Obama said at the White House. “We can’t, in the end, make President Putin see […]
Emerging-market stocks fell as the European Union and U.S. said they’re imposing tougher sanctions against Russia to punish President Vladimir Putin for supporting Ukrainian rebels. The Ibovespa fell the most in a month after Brazilian industrial production declined. India’s S&P BSE Sensex Index dropped for a second day as motorcycle manufacturer Hero MotoCorp Ltd. slid 1.6 percent. Stocks in South Korea and China advanced as automakers and […]
Op-Ed Contributors Overblown Fears of Foreign Fighters By CHAMS EDDINE ZAOUGUI and PIETER VAN OSTAEYEN July 29, 2014 BRUSSELS — Since the start of the Syrian civil war, the phenomenon of foreign fighters has been watched warily by Western governments. This is no surprise: Syria is the No. 1 destination for jihadists. Over the last few months, the fear that foreign fighters will return to the West and carry out terrorist attacks has […]
The success of this nation was built by millions of hands, many from overseas – doctors, teachers, inventors, academics, businesspeople – and succeeding in the decades to come means staying open to those who can really contribute Photo: REUTERS This Government has a long-term economic plan to secure a better future for Britain – and controlling immigration is a vital part of it. Under Labour, 2.5 million more […]
Large sections of Gaza, including Gaza City’s Shijaiyah neighborhood, have been destroyed in the current 20-day battle with Israel. By JODI RUDOREN and BEN HUBBARD July 27, 2014 JERUSALEM — Hamas, the militant Palestinian faction that dominates the Gaza Strip, has more to boast about in its current 20-day battle against Israel than ever before. Forty-three Israeli soldiers have been killed in fierce fighting. Gunmen infiltrated Israel through tunnels five times. Rockets […]
New Delhi: The NDA government has deferred its decision on the procurement of 16 multi-role helicopters for the Indian Navy as one of the two companies in the race for the deal is linked with Finmeccannica– the parent organisation of the scam-tainted firm AgustaWestalnd.
The Defence Acquisition Council headed by Defence Minister Arun Jaitley put off its decision on the procurement of the helicopters for the Navy from vendors including American Sikorsky and European NH Industries, which has Finmeccannica as one of its partners, highly-placed sources said.
Finmeccannica is the parent firm of AgustaWestland firm, whose Rs 3,600 crore contract for supplying 12 VVIP choppers to the IAF has been scrapped by the
The United States faces an awkward rival in its first attempts in 40 years to export crude oil – Iran. Iran, whose economy has been throttled by Western sanctions that have halved its crude shipments, is now selling higher quality and cheaper oil to China that leaves little room for the U.S. crude to enter the world’s top energy consumer. While buyers in Japan and South Korea […]
Slide Show | Surveying the Damage in Gaza Families returned to their homes during a 12-hour cease-fire on Saturday. By BEN HUBBARD July 26, 2014 BEIT HANOUN, Gaza Strip — Families across the Gaza Strip emerged from shelters and returned to their homes during a 12-hour cease-fire on Saturday to survey the damage to their neighborhoods, collect belongings and help dig bodies from the rubble. As the cease-fire expired […]
The European Union reached outline agreement on Friday to impose the first economic sanctions on Russia over its behavior in Ukraine but scaled back their scope to exclude technology for the crucial gas sector. The EU also imposed travel bans and asset freezes on the chiefs of Russia’s FSB security service and foreign intelligence service and a number of other top Russian officials, saying they had helped […]
New Delhi: The Union Cabinet on Thursday cleared a Bill to raise the foreign investment ceiling in private insurance companies from 26 per cent to 49 per cent, but inserted a provision that the management and control of these companies must be with Indians. This cap will be composite — both foreign direct investment (FDI) and foreign portfolio investment. Experts said this meant voting rights of foreign investors would not be capped at 26 per cent but they cannot have contractual agreements for control of insurance companies. The Cabinet Committee on Economic Affairs this morning gave its approval to changes in the Insurance Laws (Amendment) Bill, which will now be taken up in the current session of Parliament. “The Cabinet has cleared raising the for
Saudi Arabia plans to open its stock market, the Arab world’s biggest, to direct investment by foreign financial institutions in the first half of next year, the market regulator said on Tuesday. The opening of the Saudi market, capitalized at about $530 billion, is one of the most keenly awaited economic reforms in the largest oil exporting nation. The bourse would be one of the world’s last […]
Thousands of Israeli soldiers began a ground invasion into the Gaza Strip late Thursday, escalating a 10-day military operation that aims to destroy Hamas’ offensive capabilities, including the group’s weapons arsenal and tunnels that infiltrate Israel’s territory. The Israeli military said the operation was open-ended but limited in its scope, and would be carried out in several areas of the coastal strip. The office of Israeli Prime […]
Ukrainian President Petro Poroshenko said in a combative inaugural speech that Ukraine would not give up Crimea, the Black Sea peninsula that Russia annexed from it in March. “Crimea was, is, and will be Ukrainian,” Poroshenko said in an emotional address after his swearing-in on Saturday. He was greeted with a standing ovation. He stressed the unity of Ukraine, which is fighting a pro-Russian separatist uprising in the east, and said it […]
Vote winner: Thailand’s rulers attempt to ‘return happiness to the people’ in Bangkok Photo: AFP/Getty Images What to make of the Thai military junta offering free haircuts (in lieu of actual freedom) to the people? It’s an unconventional way to capture hearts and minds, but there’s a fine tradition in the corridors of power of generously providing bread and circuses and tax cuts and Qatari bank transfers to […]
Russian President Vladimir Putin and Ukraine’s president-elect Petro Poroshenko have discussed a ceasefire and other possible steps to de-escalate the crisis between their countries in a brief meeting in France, French officials said. The meeting hosted by French President Francois Hollande, before D-Day celebrations on Friday, took place as clashes continued in eastern Ukraine near a border crossing with Russia, killing at least 15 pro-Russian separatists overnight. Putin and […]
European Commission chief Jose Manuel Barroso is to formally sign a controversial EU-Israel research programme with Israeli Prime Minister Benjamin Netanyahu. The outgoing head of the European Union executive will hold talks with Netanyahu on Sunday before taking part in a signing ceremony the next day allowing Israel to become the only non-European country to benefit from the EU’s Horizon 2020 scientific research programme. After months of dispute, the […]
An impending bond issue by Abu Dhabi-based telecommunications firm Etisalat may not only be the region’s largest deal so far this year, but also set a record for tight pricing as the Gulf becomes more of a mainstream investment destination. Etisalat’s debut bond will replace some of the debt used to fund its 4.2 billion euro ($5.7 billion) purchase of a majority stake in Morocco’s Maroc Telecom […]
ABU DHABI // The influence of Arabic architecture on European buildings should not be underestimated, experts from Spain said at a talk in the capital. As part of the first event in a series of collaborations with Universidad Europea de Madrid, Alhosn University gathered some of Spain’s foremost architects from both universities to discuss how Middle Eastern and Spanish architecture have learnt from each other. Dr Miguel […]
US President Barack Obama has condemned what he called Russia’s “dark tactics” and “bullying” in Ukraine, prompting President Vladimir Putin to hit back at American “aggression,” as diplomatic wrangling between the two countries escalated. Obama met Ukraine’s president-elect Petro Poroshenko in the Polish capital of Warsaw on Wednesday, and promised years of US support, then blasted Russia and vowed to protect former Soviet states and domains in NATO, […]
