May 2022 – TradenTalks

424 new Covid cases reported in Delhi, with 4 deaths; the positive rate 1.89 percent

May 26, 2022 Administrator_IndiaCoronavirus Cases, COVID cases, Delhi, News0 comment

According to data released by the municipal health department on Wednesday, 425 new COVID-19 cases were registered, with a positive rate of 1.89 percent, and four more people died from the virus. With this, the total number of people killed in COVID-19 in Delhi has risen to 19,04,664 and the death toll has risen to 26,207. 22,490 COVID-19 tests were conducted in the national capital the day before. On Tuesday, the national capital had 418 new coronavirus cases, with a positive rate of 2.27 percent. In the national capital on…

World

Amid the forex crisis, Sri Lanka seeks a $500 million loan from India for fuel purchases

May 25, 2022May 25, 2022 Administrator_IndiaForex crisis, Fuel crisis, India, Sri lanka0 comment

Amid a severe foreign exchange crisis, the Sri Lankan Cabinet has accepted a 500 million dollar loan from the Exim Bank of India for the purchase of petroleum supplies. As the government grapples with a serious foreign exchange crisis, Sri Lanka has been considering several possibilities to facilitate efforts to prevent fuel pumps from running dry. The country is experiencing extraordinary economic hardship, the worst since its 1948 independence from the United Kingdom. Due to a lack of cash to pay for imports, it is experiencing a shortage of practically…

Australian PM Anthony Albanese at Quad summit

Current affairs

At the Quad Summit, Australia’s Prime Minister pledges to cut carbon emissions by 43% by 2030

May 24, 2022 Administrator_IndiaAustralian PM, Indo pacific, News, Quad0 comment

Anthony Albanese, Australia’s newly elected Prime Minister, pledged to reduce carbon emissions by 43% by 2030 and to reach net-zero emissions by 2050. Albanese remarked during the Quadrilateral summit, “We will act in awareness of the fact that climate change poses the greatest economic and security threat to Pacific island states. My government will establish a new goal of cutting emissions by 43% by 2030, putting us on track to achieve net-zero emissions by 2050.” He stated that his administration is dedicated to combating climate change and strengthening the Indo-Pacific…

Delhi

After strong rains and thunderstorms, houses in Delhi collapse

May 23, 2022 Administrator_IndiaDelhi, News, Thunderstorm, Weather0 comment

On Monday, inhabitants of the national capital awoke to heavy rain and strong gusts, with reports of houses toppling in some areas. At around 5 a.m., a house in West Delhi’s Nihal Vihar district fell. The people that were locked inside were freed. At around 6 a.m., a similar event was reported in the Jyoti Nagar area. There were two fire engines dispatched, and no injuries were reported. The third incident occurred near Shankar Road in Central Delhi, where a rescue operation is now underway. The fourth incident occurred at…

Commodity

Today’s gold price is Rs 50,780 per 10 gramme, with silver at Rs 61,550 per kilogramme

May 18, 2022 Administrator_IndiaCommodities, Gold, Market, News, Silver0 comment

On Wednesday, the price of 10 grammes of 24-carat gold increased by Rs 330 to Rs 50,780. Simultaneously, the price of one kilogramme of silver jumped from Rs 2,160 to Rs 61,550. The price of 10 grammes of 22-carat gold climbed by Rs 300 from the previous day’s rate to Rs 46,550. In Delhi and Mumbai, the price of 10 grammes of 24-carat gold is the same as in Bengaluru, Hyderabad, and Kolkata, with the precious metal retailing for Rs 50,780 in these cities. The price of 10 grammes of…

Economic News

According to CII president Sanjiv Bajaj, India’s GDP may expand 7.4-8.2% in FY23

May 17, 2022 Administrator_IndiaBajaj Finserv, Economy, GDP, India, News0 comment

According to Sanjiv Bajaj, the incoming president of the Confederation of Indian Industries and chairman of Bajaj Finserv, India’s FY23 gross domestic product is predicted to expand between 7.4 and 8.2% under three scenarios of world crude oil prices. Bajaj also stated during a press conference that the government needs to significantly expand its spending on education and health care, and that inter-state committees similar to the GST Council should be considered for sectors including as power, land, labour, and agriculture. According to Bajaj, CII anticipates 7.4% GDP growth in…

Current affairs

Today, India will hold meetings under the SCO on a Regional Anti-Terror Structure

May 16, 2022 Administrator_IndiaAnti terror structure, India, News, SCO0 comment

On Monday, India will host a Regional Anti-Terror Structure (RATS) meeting in New Delhi under the auspices of the Shanghai Cooperation Organization (SCO). The major anti-terror meeting will begin at 9 a.m. today in New Delhi. The summit will be attended by all members of the SCO, including a three-member team from Pakistan. On Saturday, a Pakistani inter-ministerial team crossed the Wagah border into India. Deputy Foreign Ministers from SCO member nations met in Moscow last month to discuss the importance of forming an inclusive administration in Afghanistan as soon…

International

Ranil Wickremesinghe, Sri Lanka’s new Prime Minister, has expressed interest in strengthening ties with India

May 13, 2022 Administrator_IndiaIndia, News, PM, Ranil Wickremesinghe, Sri lanka0 comment

Ranil Wickremesinghe, Sri Lanka’s new Prime Minister, has expressed his desire for better connections with India during his term and praised India for its economic help as the country grapples with its worst economic crisis since independence. On Thursday, Wickremesinghe, 73, was sworn in as Sri Lanka’s 26th prime minister, to restore stability to the country’s debt-ridden economy and end political unrest. I want to have a stronger relationship with Prime Minister Narendra Modi, and I want to express my gratitude to him. Wickremesinghe was speaking on India’s economic support…

Economic News

To address the fuel crisis, environmental permissions for coal mine expansions were eased

May 12, 2022 Administrator_IndiaCoal crisis, Coal mining, India, News, Power crisis0 comment

In response to fuel shortages that have resulted in hours-long blackouts, India has eased environmental licences for coal mine expansions. According to a government notice, certain existing facilities will be able to increase production by 10% without requiring fresh impact assessments, while requirements on contacting local communities have been relaxed. The revisions follow the coal ministry’s warning of “great pressure on domestic coal supplies,” according to the statement. Coal supplies at power plants are dwindling amid a scorching heatwave that has driven electricity consumption to new highs in recent weeks,…

Economic News

For nearly a year, Indian Railways failed to meet Coal India train provisioning targets

May 11, 2022May 11, 2022 Administrator_IndiaCoal crisis, Economy, India, News0 comment

Coal is supplied by Indian Railways. According to government data, India has been falling short of its monthly coal transportation targets for more than a year, underscoring the reasons behind India’s greatest power crisis in over six years. To meet record-high power demand, Indian utilities are rushing for coal supplies, but the failure of Indian Railways to supply enough trains makes it impossible to expand coal reserves, which are at their lowest levels in years. Despite a 27.6% increase in Coal India’s production, inventories at Indian power plants decreased 13%…