Indian Prime Minister Narendra Modi is visiting Germany, France and Denmark for talks amid the continuing conflict in Ukraine.
After meeting German Chancellor Olaf Scholz in Berlin on the first leg of his three-day trip, Mr Modi urged dialogue to resolve the conflict because “no party can emerge victorious in this war”.
He expressed concern that food shortages linked to the war between Russia and Ukraine, two of the world's top wheat producers, would affect poor and developing countries most heavily.
“Everyone will suffer losses and that is why we are for peace,” he said.
The two leaders signed a set of agreements to deepen India's ties with Germany including the establishment of an encrypted hotline between the two foreign offices, a plan to combat deforestation and the creation of a joint task force on green hydrogen.
India will also be invited to attend the G7 summit that Germany is hosting in June, meaning Mr Modi could return to the country as soon as next month.
Mr Scholz's spokesman Steffen Hebestreit would not be drawn on suggestions that Germany, which is committing €10 billion ($10.6bn) to the package of bilateral agreements, was trying to entice India into a more western-friendly position on Ukraine.
But he said it was “clear that we have different positions in how we assess the war in Ukraine” and that these would be discussed by the two leaders.
Mr Modi, whose government has walked a fine line by urging an end to hostilities without directly condemning Russia, said his visit was meant to “strengthen the spirit of co-operation with our European partners, who are important companions in India’s quest for peace and prosperity”.
Mr Modi on Monday co-chaired the sixth India-Germany Inter-Governmental Consultations, a regular dialogue format of ministers from both sides.
The agreements signed between the governments included a plan to work together on producing green hydrogen, as the fuel is known when it is generated from renewable sources, which will bring together officials, industry figures and research institutes from the two countries.
Germany will support the protection and restoration of forests in India, which hopes to reinstate 26 million hectares of woodland by the end of the decade.
Described by Mr Scholz as a key country for tackling climate change, India has set 2070 as its target date for net zero carbon emissions and angered some countries at last year's Cop26 summit by pushing through a last-minute amendment that weakened the eventual agreement on coal power.
Mr Modi also discussed easing immigration rules for skilled workers from India to tackle labour shortages in Europe’s largest economy.
He will visit Copenhagen on May 3 and May 4 and hold bilateral engagements with his Danish counterpart Mette Frederiksen. Mr Modi will also participate in the second India-Nordic Summit, along with the prime ministers of Denmark, Iceland, Finland, Sweden and Norway.
Meeting with Macron
The summit will focus on subjects including post-pandemic economic recovery; climate change; innovation and technology; renewable energy; the evolving global security scenario; and India-Nordic co-operation in the Arctic region, Mr Modi said.
On his return journey, Mr Modi will stop briefly in Paris to meet French President Emmanuel Macron, who was re-elected to a second term last month and is likely to set a more ambitious agenda of the Strategic Partnership.
Mr Modi’s visit to the European nations comes at a time when New Delhi has irked its European and western allies with its neutral stance on the Russian invasion.
The South Asian nation has been pressing for “diplomacy and dialogue” to resolve the crisis, while repeatedly abstaining from the EU-backed resolutions that censured Russia at the UN.
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UAE currency: the story behind the money in your pockets
The Intruder
Director: Deon Taylor
Starring: Dennis Quaid, Michael Ealy, Meagan Good
One star
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
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The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
Killing of Qassem Suleimani
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
