On February 18, India and the United Arab Emirates (UAE) signed the Comprehensive Economic Partnership Agreement (CEPA). This is a modern trade agreement with its roots in the erstwhile Bombay Presidency’s administration of the nine Emirati kingdoms.
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Financial intermediaries are critical lubricants for business, growth and development. The Indo-Pacific countries are industrializing, but smaller nations lag behind economically. The Quad countries can aid the advancement of the financial architecture in the Indo-Pacific by helping to develop an ecosystem, modelled on the examples of Japan and India.
Three senior U.S. officials visited Asia in July in a well-choreographed diplomatic outreach strategy by the Biden administration. The U.S is willing to prioritise the Indo-Pacific and counter China. Asia cannot afford to be a reticent bystander.
India’s oil consumption and imports are likely to resume their upward trajectory as the economy opens up, after a temporary drop due to the pandemic. To secure its energy needs, the country should shift course from investing in oil and gas assets of emerging economies to those of developed nations. The oil-rich Organisation for Economic Co-operation and Development (OECD) countries, such as Canada, Norway, and the U.S. can be given special consideration.
The UN turned 75 this year but instead of grand celebrations, the world witnessed an empty UNGA with world leaders addressing it via video screening because of the pandemic. The UN is under unprecedented stress and being shown up for its inability to tackle the challenges of today like the pandemics, climate change, terrorism or global peace and security. The institution's key governing structures, especially the UN Security Council, are inadequate and demand reform. India must now use gritty resolve to ensure its place in these governing structures.
The OPEC’s proposed cut in oil production earlier this week may not enable the energy market to recover. Recovery is likely only after COVID-19 is brought under control, but there are ways India can capitalise on the current low oil prices for its own energy security
Countries in the Middle East, such as Iran, Israel or Saudi Arabia, do not want a military confrontation. Yet, current circumstances conduce to the breaking out of just such a war
This book examines concisely and readably how the discovery of oil and natural gas transformed the six oil kingdoms of the Gulf, but profligate energy consumption at home challenged the basis of this very prosperity. It goes on to look at how these countries dealt with the economic crises that struck them
Prince Salman’s accession to the throne after the death of Saudi King Abdullah on 23 January 2015 has been a game changer, both domestically and in West Asian politics. Within days, he sidelined rivals within the House of Saud, and took on Iran with a confrontational policy. But two years later, the results of his new strategy disappoint
OPEC’s announcement of a cut in oil production shows that Saudi Arabia is being affected by low oil prices even as Iran gains ground