Business Standard brings you the top headlines at this hour
The world needs international financial cooperation. Banga can draw lessons from how John Maynard Keynes and Harry Dexter White to provide intellectual leadership to the World Bank
US President Joe Biden on Friday would host a virtual meeting of leaders from G-7 nations along with his Ukrainian counterpart Volodymyr Zelensky during which he will expect sweeping sanctions against Russia as its war against Ukraine enters the second year, the White House has said. G-7 comprises seven major world economies Canada, Italy, France, United Kingdom, Germany, Japan and the United States. Tomorrow morning, President Biden will gather with G-7 leaders and President Zelenskyy for a virtual meeting to continue coordinating our efforts to support Ukraine and hold Russia accountable for its war, White House Press Secretary Karine Jean-Pierre told reporters at her daily news conference. Thanking Japan, the new G-7 president, for its recent pledge to provide Ukraine with an additional USD 5.5 billion in economic assistance, Jean-Pierre said Tokyo has proven a steadfast ally, ready to step up and do its part to advance their shared interests and values. Our alliance with Japan
Russia's president and the deposed leader of Afghanistan were among the top gift givers to President Joe Biden and his family in 2021, according to federal documents published on Thursday. In happier times between all three countries, Vladimir Putin gave Biden a $12,000 lacquer writing box and pen when they met at a highly anticipated summit in Geneva, Switzerland in June 2021. And, then-Afghan President Mohammed Ashraf Ghani and his wife gave the U.S. president and first lady Jill Biden silk rugs worth an estimated $28,800 later that month. Relations between the U.S. and Russia turned sour shortly after the Geneva meeting and have plummeted since Russia's invasion of Ukraine last February. Ghani, meanwhile, fled Afghanistan shortly after the U.S. withdrew from the country on Biden's orders in August, 2021. The details were contained in the State Department's annual accounting of gifts to U.S. officials from world leaders posted on the website of the Federal Register on Thursday. T
US President Joe Biden has made an inspired choice by nominating Ajay Banga to the crucial position of the World Bank President, eminent Indian Americans said Thursday and described him as a global leader in technology, data, financial services and innovating for inclusion. Biden on Thursday nominated Indian-American business leader Banga, 63, to lead the World Bank. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. In nominating him to this position, the President has made an inspired choice, Indiaspora founder and chairman M R Rangaswami said after the White House announcement. Especially relevant, given recent commentary around the Bank's mission and objectives, is that Banga brings a sharp focus on climate resiliency and environmental sustainability, said Rangaswami, a venture capitalist and ...
President Joe Biden on Thursday announced that the US is nominating Indian-American business leader Ajay Banga to lead the World Bank. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation. "He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organisations through periods of fundamental change. "He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results," Biden said. Banga was awarded the Padma Shri in 2016.
US President Joe Biden assured to continue supporting Ukraine as it enters a second year of the ongoing war and said Russian President Vladimir Putin's "craven lust for land and power will fail"
President Joe Biden warned of 'hard and bitter days ahead" as Russia's invasion of Ukraine nears the one-year mark, but vowed that no matter what, the United States and allies "will not waver" in supporting the Ukrainians. A day after his surprise visit to Kyiv, Biden used a strongly worded address in neighboring Poland to praise allies in Europe for stepping up over the past year and to send a clear message to Russian President Vladimir Putin that "NATO will not be divided, and we will not tire. One year ago, the world was bracing for the fall of Kyiv, Biden said before a crowd of thousands outside Warsaw's Royal Castle. I can report: Kyiv stands strong. Kyiv stands proud. It stands tall and, most important, it stands free." With Russia and Ukraine each preparing spring offensives, Biden insisted there will be no backing down from what he's portrayed as a global struggle between democracy and autocracy though polling suggests American support for ongoing military assistance appear
Vladimir Putin suspended Russia's participation in the New START nuclear arms reduction treaty with the United States, here's all you need to know
Russian President Vladimir Putin accused Western countries Tuesday of igniting and sustaining the war in Ukraine, dismissing any blame for Moscow almost a year after the Kremlin's unprovoked invasion of its neighbour that has killed tens of thousands of people. In his long-delayed state-of-the-nation address, Putin cast Russia and Ukraine as victims of Western double-dealing and said Russia, not Ukraine, was the one fighting for its very existence. We aren't fighting the Ukrainian people, Putin said in a speech days before the war's first anniversary on Friday. Ukraine has become hostage of the Kyiv regime and its Western masters, which have effectively occupied the country. The speech reiterated a litany of grievances that the Russian leader has frequently offered as justification for the widely condemned war and ignored international demands to pull back from occupied areas in Ukraine. Observers are expected to scour it for signs of how Putin sees the conflict, which has become
His remarks came after United States President Joe Biden made a surprise visit to Ukraine, just days before the anniversary of Russia's invasion of Ukraine
Zelenskyy said he and Biden spoke about "long-range weapons and the arms that may still be supplied to Ukraine even though it wasn't supplied before
Biden departed from Washington DC covertly due to security reasons and he is already scheduled to arrive in Warsaw on Tuesday on a two-day trip
Just hours after six people were shot dead in a rural Mississippi town, US President Joe Biden said that American communities are "being torn apart by gun violence".
At least six people were shot dead in the Tate County after a series of shootings on Friday, CNN reported. One person has been arrested in connection to the incident
US President Joe Biden remains a healthy, vigorous, 80-year-old male, who is fit to successfully execute the duties of the presidency, his physician said Thursday. "The President remains fit for duty, and fully executes all of his responsibilities without any exemptions or accommodations," Dr Kevin C O'Connor, Physician to the President, said in a memorandum, days after his annual physical at the Walter Reed National Military Medical Centre. Biden's current medical considerations include a-fib with normal ventricular response, hyperlipidemia, gastroesophageal reflux, seasonal allergies, spinal arthritis and mild sensory peripheral neuropathy of the feet. For these, he takes three common prescription medications and two common over-the-counter medications, the physician said. "President Biden remains a healthy, vigorous, 80-year-old male, who is fit to successfully execute the duties of the Presidency, to include those as Chief Executive, Head of State and Commander in Chief," said D
Amidst growing tension with China in the wake of the downing of a suspected spy balloon, US President Joe Biden on Thursday underscored the need for an open line of communication with Beijing. "I've said, since the beginning of my administration, we seek competition not conflict with China. We're not looking for a new Cold War. But I make no apologies and we will compete. We will responsibly manage that competition so that it doesn't veer into conflict. "This episode underscores the importance of maintaining open lines of communication between our diplomats and our military professionals," Biden said at the White House, his first after the recent shooting down of a Chinese surveillance balloon over the American airspace. "Our diplomats will be engaging further and I will remain in communication with (Chinese) President Xi (Jinping). I'm grateful for the work of the last several weeks of our intelligence, diplomatic, and military professionals who have proved once again to be the mos
The three high-flying objects which were shot down over the American and Canadian airspace this month were not related to the Chinese balloon programme, but most likely tied to private companies, recreation, or research institutions, US President Joe Biden said Thursday. Biden said this in his speech at the White House, his first one after a Chinese balloon was shot down in the Atlantic Ocean off the coast of South Carolina. Three other high-flying objects were shot down by American fighter jets two in the US and one in Canada. "The US and Canadian military are seeking to recover the debris so they can learn more about these three objects. The intelligence community is still assessing all three incidences. They're reported to him daily and will continue their urgent efforts to do so, and he will communicate that to the Congress," Biden said. "We don't yet know exactly what these three objects were, but nothing right now suggests they were related to China's spy balloon programme or
President Joe Biden on Thursday ordered the federal government to do more to address racial inequality as the challenges and complexities of systemic racism are again drawing the public's attention. The order, signed during Black History Month, requires that an initial review into long-standing disparities in government services and treatment that he ordered on his first day in office become an annual requirement for federal agencies. The reviews are aimed at increasing access to federal programs, services and activities for disadvantaged communities. The new order also directs federal agencies to have equity teams and name senior leaders who would be accountable for increasing equity and addressing bias. My Administration has embedded a focus on equity into the fabric of Federal policymaking and service delivery, Biden wrote in the order, adding that, By advancing equity, the Federal Government can support and empower all Americans, including the many communities in America that hav
The Biden administration has revealed new initiatives to install 5,00,000 electric vehicle chargers on US roads by 2030 under its $7.5 billion plan