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Russia starts direct commercial flights between Moscow and Pyongyang
AP Moscow
Russia on Sunday opened a regular air link between Moscow and Pyogyang, a move reflecting increasingly close ties between the two countries.
The first flight operated by Russian carrier Nordwind took off from Moscow's Sheremetyevo airport carrying over 400 passengers. Russia's Transport Ministry said there will be one flight a month to meet demand.
Russian Foreign Minister Sergey Lavrov, who visited North Korea's new Wonsan-Kalma beach resort earlier this month to meet with North Korean leader Kim Jong Un, promised to encourage Russian tourists to visit the complex.
The resort, which can accommodate nearly 20,000 people, is at the center of Kim's push to boost tourism to improve his country's troubled economy.
North Korea has been slowly easing the curbs imposed during the pandemic and reopening its borders in phases. But the country hasn't said if it would fully resume international tourism.
Regular flights between Russia's eastern port city of Vladivostok and Pyongyang reopened in 2023 following a break caused by the coronavirus pandemic.
Russia and North Korea have sharply expanded military and other ties in recent years, with Pyongyang supplying weapons and troops to back Russia's military action in Ukraine.
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Hindustan Times
18 minutes ago
- Hindustan Times
Despite Trump statements, Russia oil buys seen still on
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Economic Times
an hour ago
- Economic Times
Exporters fear cancellation of US orders, seek aid after Trump slaps 25% tariff on India
Exporters on Saturday flagged concerns about likely cancellations of orders from their buyers in the US in view of the 25% tariff imposed on Indian goods—higher than their competitors from Bangladesh, Pakistan, and Vietnam—along with a penalty that had added to the uncertainty. In a series of meetings with Commerce and Industry Minister Piyush Goyal, exporters of textiles, steel, engineering goods, and agricultural products also sought immediate rollout of an Export Promotion Mission, market support for goods meant for the US, as well as an interest equalisation scheme for pre- and post-shipment export credit. 'Exporters spoke about the adverse effects of tariffs. They want support,' said an official. Washington has imposed an across-the-board 25% tariff on all Indian-origin goods, effective August 7, along with a penalty. India's competitors, including Pakistan, Vietnam, Bangladesh, and Turkey, are in the 15–20% range. The steep duty could hurt nearly half of India's exports of more than $85 billion to the US, officials said. 'The problem with 25% duty is that our competitors are slapped with lower tariffs and hence, have a tariff advantage,' said a textile industry representative. Exporters said if the tariffs were 20%, the burden could have been shared by the importer, exporter, and consumer, but the 25% duty demands fiscal support such as higher incentive under the Rebate of States and Central Taxes and Levies scheme. The textile industry has also flagged concerns over likely layoffs in the sector, as the US accounts for a third of India's total textile exports and the high tariff could cause a loss of business. 'The US market is price sensitive with lower design elements. The impact will be visible on core sport items like T-shirts and home textiles from September when the peak season for textiles starts,' the textile industry representative said. The US was India's largest export destination in fiscal 2025 with shipments valued at $87 billion, accounting for about a fifth of the $437 billion total. 'Had an insightful interaction today in Mumbai with leading industry captains from India's vibrant textiles sector. Discussed bold ideas to enhance global competitiveness, sustainability, innovation & value chain integration. Together, we're weaving India's rise as a global textiles powerhouse,' Goyal wrote in a post on X. In another post, he said: 'Held a productive dialogue with major steel producers in Mumbai. Focused on ideas like advanced tech adoption, reducing logistics costs, increasing iron ore production, and expanding India's role in global value chains by making our MSMEs more competitive. Looking forward to a collaborative road map ahead to forge a resilient & future-ready steel industry.' Due to a lack of clarity of penalty, orders are restricted and there is a need for incentives, said another industry representative who participated in the meeting. 'Also, the Russian import-linked penalty is not quantified or specified, and buyers are reluctant to place orders now. They don't know the landed price and duty.'
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First Post
an hour ago
- First Post
India begins groundwork for US tariff deal, ministries told to draft sector-wise concessions: Report
Facing pressure from Trump's 25 per cent tariff, the Indian government has launched an inter-ministerial effort to draw up trade concessions ahead of key negotiations. With a US delegation set to arrive on August 25, key economic ministries have been directed to prepare sector-specific proposals read more President Donald Trump with Prime Minister Narendra Modi at the White House. The 25 per cent tariff and Russian penalty on India comes even as officials continue to hammer out a trade deal, which has been ongoing since February. File image/AP In response to US President Donald Trump's sweeping 25 per cent tariff imposition on Indian goods, New Delhi has launched a cross-ministerial exercise to identify trade concessions it can offer in upcoming negotiations. With a high-level US delegation set to arrive on August 25, key economic ministries have been directed to prepare sector-specific proposals, The Indian Express reported. The Trump administration is seeking deeper market access than India has previously committed to, pressing for broad tariff reductions and the removal of non-tariff trade barriers. STORY CONTINUES BELOW THIS AD The 25 per cent tariff, effective from August 7, is compounded by a separate, unspecified 'penalty' tied to India's defense and energy imports from Russia. According to the report, government departments have already begun submitting possible concession packages. In some cases, such as oil refining, adjustments are underway, with refiners beginning to cut back on Russian crude purchases. However, sources warned against retaliatory posturing in response to Trump's provocations, no matter how inflammatory they may be. 'This is a time for pragmatism, not posturing,' one official noted. Although Trump had originally listed India among his top trade priorities, progress has been sluggish, leading to mounting frustration in Washington. Like other countries navigating Trump's tariff tactics, India has followed a cautious approach, offering selective concessions while safeguarding its economic interests and shielding vulnerable domestic sectors. Observers note that several nations that rushed to sign trade deals with the US—such as the UK and Australia, emerged with lopsided agreements that disproportionately benefited Washington, particularly in cases where trade deficits existed. New Delhi had long operated on the assumption that the US would maintain a 10–20% tariff differential between India and China, and continue to respect India's longstanding trade red lines. These include opposition to genetically modified (GM) crops and the need to protect its vast, labor-intensive manufacturing base that underpins much of its export economy. STORY CONTINUES BELOW THIS AD Officials remain cautious on sensitive agricultural imports, particularly soybeans, corn, and dairy, despite already proposing tariff cuts on 55 per cent of US imports. This figure could rise in the upcoming talks, especially as India's trade pacts with Japan, South Korea, and ASEAN saw over 80 per cent of tariff lines reduced to zero. While negotiators are eyeing October as the tentative deadline for finalising a deal, progress in fresh rounds of talks could accelerate that timeline. Complicating India's position, however, is the possibility of China finalising a trade deal of its own, potentially locking in favorable tariff rates and securing waivers, including on penalties linked to Russian oil imports.
