India last month extended the fiscally precarious Maldives a $50 million interest-free loan, helping stave off a potential default on $500 million in Sukuk bonds. The loan will support coupon payments due this month. The bonds, issued in 2021, were subscribed by countries including Egypt, Pakistan, South Africa and the UK. Sukuk bonds comply with … Read more
NEW DELHI: India’s cabinet has approved a scheme to spend 109 billion rupees ($1.3 billion) on incentives for the adoption of electric vehicles in its efforts to curb pollution and move towards cleaner fuels. The PM Electric Drive Revolution in Innovative Vehicle Enhancement, or PM E-DRIVE, scheme will give subsidies worth 36.79 billion rupees on … Read more
NEW DELHI: India and China agreed to redouble efforts to ensure complete disengagement on the contested Himalayan frontier, New Delhi said on Thursday after India’s National Security Adviser Ajit Doval met China’s Foreign Minister Wang Yi in Russia. “Both sides agreed to work with urgency and redouble their efforts to realize complete disengagement in the … Read more