You have to give it to the news channels, though—they are nothing if not optimistic. Besides, the Indian engineering services firms had also acquired several firms in the Eastern Europe region to strengthen their delivery capabilities. In terms of industry verticals, sectors like banking, automotive, oil and energy, utilities in Europe, especially those which have a fair exposure to Russia, may face supply constraints that could further derail the new deals for Indian IT companies.
Former Russian president Dmitry Medvedev, an aide of Vladimir Putin, has claimed the Ukraine war could last for decades with long periods of fighting interspersed by truces. Witnesses said that during the air raid alerts that started sounding soon after midnight on Sunday, many people stood on their balconies, some screaming slogans like “Glory to air defence”. Russia’s Wagner private army began handing over positions to regular troops this week after declaring full control of Bakhmut following the longest and bloodiest battle of the war.
The Russia Ukraine war primarily involves Russia and pro-Russian forces on one side, and the small country of Ukraine on the other. Russia has made it clear in its communication that any attempt to bring Ukraine into the NATO fold will have consequences. The war also serves as a reminder that all the carefully built norms are vulnerable and incredibly fragile, and that deterrence and negotiations take a back seat when force remains a dominant denominator in influencing the course of international relations.
Russia-Ukraine War: 1,351 Soldiers Killed in Ukraine, Says Russian Army
While details are scarce, Ukraine took the high ground overlooking Bakhmut and opened the main highway leading into the city from the West. In a joint statement issued Saturday, the G7 leaders emphasized they did not want to harm China and were seeking ‘constructive and stable relations’ with Beijing. “We call on China to press Russia to stop its military aggression, and immediately, completely and unconditionally withdraw its troops from Ukraine,” it said. Ukraine’s Air Force shot down 52 of the 54 drones launched by Russia overnight in Kyiv, in what appears to be the largest drone attack on the city to date. The Iranian-made ‘kamikaze’ drones caused the first deadly incident this month and may be targeted at military and critical infrastructure facilities in central regions and Kyiv, the capital. Russian crude may make up nearly a third of India’s total oil imports by the end of this financial year, ONGC chief Arun Kumar Singh was quoted as saying by Russian news agency Interfax.
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The ONGC head has asserted that the trade between India and Russia will only grow stronger in the coming months, reported Reuters citing the Russian agency. Russia has announced plans to hold elections in the occupied parts of Ukraine in three months. The move is seen as Moscow’s latest attempt to signal it is in control, even as a Ukrainian counteroffensive has pushed back its forces in some areas. While the decisive battles still lie ahead, Ukrainian troops have recaptured villages and territories previously held by Russia since last year. Russia launched a massive wave of drones targeting Ukraine’s capital on Sunday.
It can report a 50 per cent growth in FY22 as compared to previous year, the report said. Corporates have raised an all-time high amount of Rs 1.89 lakh crore through public equity markets. Apart from strong banking scenario, the SBI report showed there’s adequate liquidity of jio giga tv booking Rs 7 lakh crore and appropriate cash balance of Rs 2.8 lakh crore. This should adequately insulate the banking sector to navigate through the crisis. Every $10/bbl increase in oil price is likely to increase inflation by 25 bps and widen CAD as percentage of GDP by 35 bps.