India abstains on UNSC resolution that 'deplores' Russian aggression
India abstained on a US-sponsored UN Security Council resolution that "deplores in the strongest terms" Russia's "aggression" against Ukraine, with New Delhi saying dialogue is the only answer to settling differences and disputes and voicing "regret" that the path of diplomacy was given up. The resolution did not pass since permanent member Russia, and President of the Security Council for the month of February, used its veto. The resolution received 11 votes in favour and three abstentions, including by India, China and the UAE. Read more
US, Europe agree to freeze assets of Russia's Vladimir Putin, Sergey Lavrov
With a military intervention in Ukraine off the table, and countries around the world looking to heap more financial punishment on Moscow, the United States, Britain and European Union said they will move to sanction Russian President Vladimir Putin and Foreign Minister Sergey Lavrov. Read more
Ukraine crisis: Russia-India defence sales face looming sanctions
With Russia facing increasing waves of economic and financial sanctions imposed by western democracies, countries such as India, which are dependent on Moscow for a large percentage of their defence equipment, are facing hard choices. White House Press Secretary Jen Psaki, describing President Joe Biden’s meeting with G7 leaders on Thursday, promised “devastating packages of sanctions” on Russia. Read more
LIC IPO: Bankers buy time to decide on valuations amid market mayhem
The turmoil in markets worldwide has put investment bankers in a dilemma over entering into discussions on the pricing of Life Insurance Corporation of India’s (LIC) initial public offering (IPO). Investment bankers said this might not be a good time to gauge investor response, which is critical to determine the demand for the IPO and decide on the kind of valuations the investors will be comfortable with. This is because most foreign investors will prioritise realigning existing portfolios over fresh investments amid the current geopolitical tensions between Russia and Ukraine. Read more
GST intelligence body widens investigation on fintech firm BharatPe
The Directorate General of Goods and Services Tax Intelligence (DGGI) has widened its probe on BharatPe after its earlier investigation had found the merchant-focused fintech firm had issued invoices to non-existent vendors, said officials aware of the development. Read more
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU