Russian oil giant Lukoil is divesting its international operations following US sanctions imposed due to Moscow’s actions in Ukraine. The sanctions, which freeze US assets and bar American firms from doing business with Lukoil and Rosneft, have prompted the company to begin selling its global assets. This move comes as peace negotiations between Russia and…
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened flat in trade on Tuesday. While Nifty50 was near the 26,000 mark, BSE Sensex was above 84,800.
The Supreme Court has empowered the Cabinet to review Vodafone Idea’s AGR dues, including issues like duplicate payments and penalties. This ruling could also benefit Tata Tele and Bharti Airtel. The government’s 49% equity stake in Vodafone Idea and the interests of its 200 million subscribers were key considerations.
New EU sanctions on Russia are creating significant trade opportunities for Indian businesses, according to the Indian Business Alliance. As Western firms exited, India stepped in, boosting bilateral trade to a record $68.7 billion. Indian companies are now filling gaps in sectors like pharmaceuticals and consumer goods, benefiting both nations.
China’s tightened export controls on rare earth processing machinery and materials pose a significant threat to India’s Rs 7,300 crore plan for domestic production. These restrictions could impede India’s self-reliance goals for components vital to electric vehicles and high-tech industries, as China dominates global supply chains.
The Supreme Court’s ruling empowers the Union Cabinet to review the recovery of thousands of crores in AGR dues from Vodafone Idea, potentially benefiting Bharti Airtel and Tata Tele as well.
