INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Biden to hold virtual summit with Japan, Australia, India leaders Thursday: Delhi

US President Joe Biden will announce $800 million in new security assistance to Ukraine Wednesday, AFP
  • The statement from India's foreign ministry came a day after Indian Prime Minister Narendra Modi spoke to Russian President Vladimir Putin
  • The grouping is seen as a bulwark against China, and there have been concerns in India and elsewhere that the Ukraine crisis would distract Washington from the region

US President Joe Biden will hold a virtual summit Thursday with the leaders of the other members of the Quad grouping Japan, Australia and India, New Delhi said.

The statement from India’s foreign ministry came a day after Indian Prime Minister Narendra Modi spoke to Russian President Vladimir Putin for the second time since Moscow’s invasion of Ukraine last week.

The US has called on Delhi to use its “leverage” with Moscow.

The Indian statement made no mention of the Ukraine crisis, saying that Biden, Modi, Fumio Kishida and Scott Morrison would “exchange views and assessments about important developments in the Indo-Pacific”.

The grouping is seen as a bulwark against China, and there have been concerns in India and elsewhere that the Ukraine crisis would distract Washington from the region.

The meeting could also be an opportunity for the other leaders to press Modi to take a more critical line on Russia’s invasion of Ukraine.

India, which leaned towards the Soviet Union in the Cold War and maintains strong ties with Moscow, has urged Russia and Ukraine to cease hostilities but has stopped short of condemning the invasion.

On Wednesday, it again abstained in a UN resolution deploring Russia’s actions.

The brief statement added that the four leaders would “review ongoing efforts to implement the Leaders’ initiatives announced as part of the Quad’s contemporary and positive agenda”.