Page 153 - Russia

Canara Bank to sell its stake in Russian joint venture to SBI for Rs 114 cr

Canara Bank on Friday said it plans to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank has entered into a share sale agreement in relation to sale of equity shares held by it in Moscow-based CIBL with SBI, the bank said in a regulatory filing. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022, it said. Based on share sale agreement and with the consent of Central Bank of Russia, entire shares held by Canara Bank have been transferred to SBI on November 30, 2022, it said. "However, consideration in USD as agreed by the parties is not yet received. Expected to complete the transaction on or before March 31, 2023," it said. Canara Bank is expected to receive USD 14.67 million or about Rs 114 crore from SBI for its

Pak to pay for Russian oil in currencies of 'friendly countries': Official

Pakistan will pay for energy purchases from Russia, when they start in late March, in currencies of friendly countries, a top energy official said on Friday. The development came at the conclusion of the 8th session of the Pakistan-Russia Inter-Governmental Commission (IGC) on trade, economic, scientific, and technical cooperation led by Ayaz Sadiq, Pakistan Minister for Economic Affairs, and Nikolay Shulginov, Russian Energy Minister, from respective sides between January 18 and 20 here. Shulginov, in a joint statement read out before the media, said Islamabad would pay for energy purchases in currencies of friendly countries, adding that the two countries agreed in late March as the timeline for crude oil export to cash-strapped Pakistan. The friendly countries were not named but likely include China which has close ties with both Pakistan and Russia. The two sides worked under the guidance of Prime Minister Shahbaz Sharif and President Vladimir Putin and took the opportunity to

President Zelenskyy urges West to speed up flow of weapons to Ukraine

Ukrainian President Volodymyr Zelenskyy has bared his frustration about not obtaining enough tanks from some Western countries to help Ukraine's defend against Russian forces.

Small farmers must get fertilisers, market at lower cost: R K Singh

Asked why India is continuing to import cheap Russian gas despite international opprobrium, Singh said India imports less gas from Russia in a month than Europe does in a day

Russia has earned a place among terrorists: Ukranian President Zelenskyy

He said Ukraine needs military as well as financial support to win this war and recover from the crisis

Companies sell their businesses in Russia, complying to sanctions amid war

The moves, part of a broader corporate exodus from the country, are likely to stir concerns that Russian firms and institutions are snapping up prized assets for a bargain

Russia's oil output up 2% in 2022 despite sanctions, says Prez Putin

"The volume of production amounted to 535 million tons," he said

Tennis Australia bans Russian, Belarusian flags at Australian Open

Tennis Australia has banned Russian, Belarusian flags at the Australian Open after a controversy erupted over the Russian flag seen hanging outside the court

Finance ministry increases 'risk profiling' of shipments from China

Govt taking steps to address possible cases of under-invoicing

India hopeful rupee trade with Russia will pick up in future: Govt official

Russia, Sri Lanka, Mauritius and Bangladesh are some of the countries that are keen on rupee trade with India

Iran to get Russian Su-35 fighters in next Iranian year, says lawmaker

The lawmaker noted that Iran has also ordered a number of defense and missile systems as well as helicopters, most of which will be soon delivered by Russia

Deaths from strike on Ukraine apartment building rise to 25: Report

Zelenskyy reported that at least 73 people were wounded and 39 people had been rescued as of Sunday afternoon

Refining troubles: Huge sanctions looming for fuel that powers the world

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

Russia to evacuate astronauts from ISS in coming weeks amid emergency

Russian cosmonauts Sergei Prokopyev and Dmitry Petelin together with NASA astronaut Francisco Rubio will return to Earth aboard the Soyuz MS-23 in the next weeks

NATO plans to deploy surveillance planes to Romania to eye Russian activity

Since Russia invaded Ukraine in February, NATO has bolstered its presence on Europe's eastern flank, including by sending additional battlegroups to Romania, Bulgaria, and Slovakia

Russia says its forces took over Soledar, Ukraine denies its capture

Soledar is located in Ukraine's Donetsk province, one of four that Moscow illegally annexed in September

India may be in better economic shape to create a rupee trade zone

But the China factor could play spoiler

EU, NATO set up joint task force to protect critical infrastructure

The European Union (EU) and the North Atlantic Treaty Organization (NATO) have agreed to set up a task force to better protect critical infrastructure and increase resilience

Russia to launch new capsule to return space station crew back to Earth

Russian space corporation Roscosmos said Wednesday that it will launch a new spacecraft to take some of the International Space Station's crew back to Earth after their capsule was damaged and leaked coolant. Russian cosmonauts Sergey Prokopyev and Dmitri Petelin and NASA astronaut Frank Rubio arrived at the station in September on board a Soyuz MS-22 and planned to use the capsule to return to Earth. But it leaked coolant last month, resulting in higher cabin temperatures. After analysing the situation and discussing it with NASA, Roscosmos decided to launch a new Soyuz MS-23 capsule in crewless automatic mode on February 20 to take the trio back, Roscosmos chief Yuri Borisov told reporters. In case of an emergency on the International Space Station that would require the evacuation of the entire crew before the new capsule arrives, space officials will consider whether the Soyuz MS-22 could be used safely, Borisov said. The leak from the Soyuz MS-22 was spotted in December when t

Russia's 2022 budget deficit accounts for 2.3% of GDP: Finance Minister

Russia's budget deficit accounted for 2.3 per cent of the country's gross domestic product (GDP) in 2022, Finance Minister Anton Siluanov said