After his anti-India rhetoric, pro-China Maldives President Mohamed Muizzu has said India will continue to remain his country’s “closest ally” and urged New Delhi to provide debt relief to the archipelago nation. Maldives owed approximately $400.9 million to India by the end of last year.
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Indian diamond houses, responsible for cutting and polishing 90% of stones, are worried about economic slowdown, falling prices, and geopolitics. They have informed banks that the next four months will be crucial for the trade. Natural diamond prices have dropped by 30%, and lab-grown diamond prices have seen a decline of over 50% in the last year. Read more for insights.
Market watchers predict sustained volatility for Treasuries due to economic factors and geopolitical tensions. Swings in long-term rates are surpassing those in equities. The Fed’s struggle to indicate a clear vision for interest-rate policy contributes to uncertainty. Geopolitical factors and a surge in debt supply are further impacting market instability.
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Chinese President Xi Jinping inaugurated the Asian Games in Hangzhou. However, the days leading up to the opening ceremony were marred by controversy as three Indian athletes were denied entry into China. In response, India’s sports minister canceled his China trip. This incident highlights the larger issue of Chinese geopolitics and its impact on international sports events. The standoff between China and India reflects the strained bilateral relations, and until the border dispute is resolved, such incidents may continue to occur.
The India-Middle East-Europe Economic Corridor (IMEC) trade corridor is a response to China’s Belt and Road Initiative (BRI). It aims to connect India, the Arabian Gulf, and Europe through sea and land routes, reducing trade time, and increasing clean energy production. The project has polarised global debates and can provide significant geopolitical benefits for India. Private sector participation will be crucial for its success, particularly in building core sector projects like dedicated rail lines.
