Paytm founder arrested last month for 'ramming' DCP's car, granted bail

Tuesday March 15, 2022

Co-founder and CEO of Paytm Vijay Shekhar Sharma was arrested and released on bail by Delhi Police last month for allegedly ramming his car into the official vehicle of South Delhi's Deputy Commissioner of Police.

India is amongst the world’s largest arms importers, says SIPRI as it cites conflict with China

Tuesday March 15, 2022

Even though arms imports to South Asia, fell by 21 per cent and those to South East Asia fell by 24 per cent between 2012-16 and 2017-21.

India is amongst the world’s largest arms importers, says SIPRI as it cites conflict with China

India is amongst the world’s largest arms importers, accounting for 11 per cent of global imports, according to the Stockholm International Peace Research Institute (SIPRI).

Border issues between China and many states in Asia and Ocenia are the main contributors to these imports. Even though India’s arms imports have decreased by 21 per cent between 2012-16 and 2017-21, it still remains as the largest importer globally.

India is in the process of planning large-scale arms imports in the next few years from several suppliers.
The US remains the largest supplier to Asia and Ocenia.

Asia and Oceania are the largest importing region for major arms, receiving 43 per cent of global transfers in 2017-21 and the six countries in the region (who happen to be the largest importers globally) are India, Australia, China, South Korea, Pakistan and Japan.

Russia is the second-largest exporter, but their trade has fallen by 26 per cent. The US, Russia, France, China and Germany accounted for more than three-fourths of the world's exports.

Even though arms imports to South Asia, fell by 21 per cent and those to South East Asia fell by 24 per cent between 2012-16 and 2017-21.

During the same period, arms imports to Oceania grew by 59 per cent, primarily due to a 62 per cent increase in Australia’s imports and imports to East Asia rose by 20 per cent.

Interestingly, South American arms imports reached their lowest level in 50 years. Meanwhile, the largest arms importers in Europe are the UK, Norway, and the Netherlands.

Other European states are also expected to increase their arms imports significantly over the coming decade, having recently placed large orders for major arms, in particular combat aircraft from the US.

Despite the armed conflict in eastern Ukraine throughout 2017–21, the country’s imports of major arms in the period were very limited.

Ukraine war: US journalist, acclaimed filmmaker Brent Renaud shot dead by Russian forces

Tuesday March 15, 2022

Brent Renaud, an acclaimed filmmaker who travelled to some of the darkest and most dangerous corners of the world for documentaries that transported audiences to little-known places of suffering, died after Russian forces opened fire on his vehicle in Ukraine.

India's new envoy to China, Pradeep Kumar Rawat takes charge

Tuesday March 15, 2022

India's new ambassador to China Pradeep Kumar Rawat assumed charge on Mar 14 . Rawat arrived in China on March 4 and underwent mandatory quarantine as per China's Covid-19 protocols.

WPI inflation rises to 13.11 per cent in February due to sharp jump in fuel prices

Tuesday March 15, 2022

India's annual wholesale price-based inflation surged to 13.11 per cent in February from 12.96 per cent recorded in the previous month due to a sharp jump in the prices of crude petroleum and natural gas, the government data showed on Mar 14 .

WPI inflation rises to 13.11 per cent in February due to sharp jump in fuel prices

India's annual wholesale price-based inflation surged to 13.11 per cent in February from 12.96 per cent recorded in the previous month due to a sharp jump in the prices of crude petroleum and natural gas, the government data showed on Mar 14 .

The annual rate of Wholesale Price Index (WPI) based inflation stood at 4.83 per cent in February 2021.

"The high rate of inflation in February 2022 is primarily due to rise in prices of mineral oils, basic metals, chemicals and chemical products, crude petroleum & natural gas, food articles and non-food articles etc. as compared to the corresponding month of the previous year," the Ministry of Commerce & Industry said in a statement.

The WPI based inflation accelerated in February after two months of a declining trend. The month-over-month change in the WPI index for the month of February 2022 stood at 1.4 per cent as compared to January 2022.

Prices of crude petroleum and natural gas surged by 14.25 per cent, non-food articles by 3.28 per cent and minerals by 3.17 per cent in February 2022 as compared to the previous month.

The annual inflation in crude petroleum surged to 55.17 per cent in February, against 39.41 per cent in the previous month. This has surged due to a sharp jump in the crude oil prices in the international markets.

However, the prices of food articles declined by 0.87 per cent in February 2022 as compared to January 2022.

WPI food index, which has 24.38 per cent weight in the WPI, consists of 'food articles' from the primary articles group and 'food product' from the manufactured products group. The rate of inflation based on the WPI Food Index decreased from 9.55 per cent in January 2022 to 8.47 per cent in February 2022.

Government plans to float EoI for its stake sale in IDBI Bank next month

Tuesday March 15, 2022

The government plans to invite expression of interest (EoI) to sell its stake in LIC-controlled IDBI Bank by the next month-end.

Tapan Singhel gets 5-year extension as Bajaj Allianz General Insurance's MD & CEO

Tuesday March 15, 2022

Bajaj Allianz General Insurance has announced a five-year tenure extension of its managing director and CEO Tapan Singhel.

India GDP growth forecast cut to 7.9 per cent: Morgan Stanley

Tuesday March 15, 2022

As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India's GDP forecast for the fiscal year beginning April 1 by 50 basis points to 7.9 per cent, raised retail inflation projection to 6 per cent and expects current account deficit to widen to 3 per cent of GDP.

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Paytm founder arrested last month for 'ramming' DCP's car, granted bail

Paytm founder arrested last month for 'ramming' DCP's car, granted bail

India is amongst the world’s largest arms importers, says SIPRI as it cites conflict with China

India is amongst the world’s largest arms importers, says SIPRI as it cites conflict with China

Ukraine war: US journalist, acclaimed filmmaker Brent Renaud shot dead by Russian forces

Ukraine war: US journalist, acclaimed filmmaker Brent Renaud shot dead by Russian forces

India's new envoy to China, Pradeep Kumar Rawat takes charge

India's new envoy to China, Pradeep Kumar Rawat takes charge

WPI inflation rises to 13.11 per cent in February due to sharp jump in fuel prices

WPI inflation rises to 13.11 per cent in February due to sharp jump in fuel prices

Government plans to float EoI for its stake sale in IDBI Bank next month

Government plans to float EoI for its stake sale in IDBI Bank next month

Tapan Singhel gets 5-year extension as Bajaj Allianz General Insurance's MD & CEO

Tapan Singhel gets 5-year extension as Bajaj Allianz General Insurance's MD & CEO

India GDP growth forecast cut to 7.9 per cent: Morgan Stanley

India GDP growth forecast cut to 7.9 per cent: Morgan Stanley

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