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[ad_1] Factbox-How dependent is Germany on Russian gas? [ad_2] Source link

[ad_1] The Russia-Ukraine military conflict will have an implication on the country’s trade as it would affect movement of consignments, payments and oil prices, according to exporters. The Federation of Indian Export Organisations (FIEO) said they have asked exporters to hold their consignments to the region or goods that take the Black Sea route. To Russia, Ukraine and other eastern European countries, goods move from the Suez Canal and the Black Sea, FIEO Director-General Ajay Sahai said.He added that the quantity of impact on trade will depend on the duration of the war. “This is a major setback to trade as it was recovering from the COVID-19 pandemic. Exporters are cautious in dealing with their trade in that region. The war will affect both movement of goods, payments and oil prices,” Sahai said. A Mumbai-based exporter Sharad Kumar Saraf said the current crisis will affect the country’s exports as the West is imposing sanctions on Russia.The situation in Ukraine deteriorated after Russian President Vladimir Putin announced a military operation in Ukraine, triggering serious concerns over the possibility of a full-scale military confrontation between the two countries. Following Putin’s announcement, Ukrainian President Volodymyr Zelensky said an “invasion” could be the beginning of a “big war” in Europe.Bilateral trade between India and Russia stood at USD 9.4 billion so far this fiscal, against USD 8.1 billion in 2020-21. India’s main imports from Russia include fuels, mineral oils, pearls, precious or semi-precious stones, nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment and fertilisers. While major export items from India to Russia include pharmaceutical products, electrical machinery and equipment, organic chemicals and vehicles. India’s bilateral trade with Ukraine stood at USD 2.3 billion so far this fiscal, as against USD 2.5 billion in the last fiscal. Main items of Indian import from Ukraine are agriculture products, metallurgical products, plastics and polymers, etc., while pharmaceuticals, machinery, chemicals and food products, etc., are the major Indian exports to Ukraine. FIEO Vice-President Khalid Khan said that if the military operations continue for long time, it will have serious implications for exports to and imports from that region. “Oil and gas prices will zoom, there could be payment delays for traders,” he said. Stock markets were awash in red and the Indian currency slumped against the dollar on Thursday amid Russia’s attack on Ukraine pushing investors to seek refuge in safe-haven assets. [ad_2] Source link

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[ad_1] We all consider overseas education as a great opportunity for our personal and professional growth with the host of experiences that we gather, in our time abroad. However, studying in a foreign country is an expensive affair given the several costs that come with it. To help with that, there are some money-saving and managing tips that you can follow. The first and one of the obvious tips is to minimize your personal expenses. Overseas education is an expensive proposition and while planning, parents need various factors such as college fees, along with the living expenses, travel expenses, etc. for the overall budget. Tuition fee is that major component of your expenses that is not under your control. But for other personal, lifestyle expenses, experts say you can try to minimize them as much as possible. Find thrifty solutions to substitute your extravagant purchases. Having said that, Basil Ali, Co-founder and COO, Edumpus says “There are certain expenses which you cannot ignore like food, apparel, stationery, transportation, etc. There are various brands that offer student discounts that can get you a deal on a lot of your purchases. Shopping during sales can help you get good quality products for a much more affordable price. For books, you can issue books from the library of your college or any community library.” It is always recommended by experts to get services from a local bank as soon as one reaches one’s study destination. Enquire about debit and credit cards and what student benefits they offer. Ali explains, “As the natives are more aware of the dynamics of the country or city, therefore, they are the best people who can guide you on where and how you could purchase an affordable phone connection or buy your daily groceries from.” Studying in a foreign country comes with its own costs and there can be certain emergencies which you need to be prepared for. To anticipate such situations and make provisions for the same, consider getting a part-time job. This source of income can be your rainy day reservoir and can contribute towards your education loan as well. Ali points out, “As part of a generation that is so technology-adept, managing personal expenses using technology should not come as a surprise. Downloading a money management app can help keep track of the expenses and give a detailed report of the spending patterns.” Studying abroad comes with a laundry list of responsibilities, at the same time, experts say it’s a huge learning curve for the students who get to learn basic life skills – Managing money being the most important one. Hence, Ali adds, “be mindful of your expenses and you will sail through your life-changing study experience successfully.” [ad_2] Source link

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[ad_1] Russian forces invade Ukraine with strikes on major cities [ad_2] Source link

[ad_1] An Air India plane that took off for Kyiv in Ukraine on Thursday morning to bring back Indians from the eastern European nation is returning to Delhi due to the closure of Ukrainian airspace amid the Russian military offensive. After the Air India flight had departed from Delhi on Thursday morning, the Ukrainian authorities issued a NOTAM (Notice to Airmen), which stated that flights of civil aircraft within Ukraine “are restricted due to potential hazard for civil aviation”. Air India and the central government then decided to call back the plane to Delhi, officials said, adding that the plane took an about turn in the Iranian airspace to return to Delhi. An airline spokesperson said the Air India flight AI 1947 is returning as a NOTAM has been issued at Kyiv. The flight started from the Indira Gandhi International Airport (IGIA) here at around 7.30 am for Boryspil International Airport in Kyiv.Meanwhile, a Ukraine International Airlines flight from Kyiv landed at the Delhi airport at around 7.45 am on Thursday.”There were 182 Indian nationals onboard the flight and majority of them were students… A couple of more flights have been scheduled,” Anju Wariah, Director at STIC Group, said. The group is the General Sales Agent (GSA) for Ukraine International Airlines in India. After weeks of rising tensions, Russia on Thursday announced a military operation against Ukraine. Air India’s Thursday flight was scheduled to be the second flight to bring back Indians from the eastern European nation. The first flight, operated on February 22, brought back around 240 people. On February 19, Air India announced that it would operate three flights between India and Ukraine on February 22, 24 and 26. [ad_2] Source link

[ad_1] CFPB Director Rohit Chopra The Consumer Financial Protection Bureau (CFPB) announced Wednesday that it may propose a rule to regulate the use of automated valuation models (AVMs) by lenders and appraisers. The government watchdog is concerned that automated valuation models may reflect bias in design and function. Specifically, the bureau raised the concern that mathematical models may rely on biased data, resulting in inaccurate valuations. The bureau added that without proper safeguards these models could digitally redline neighborhoods and perpetuate historical disparities. To address those potential risks, the CFPB and a handful of other regulators, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Federal Housing Finance Agency are considering proposing an interagency requirement that institutions establish policies, practices, procedures and control systems to ensure that that their AVMs comply with applicable nondiscrimination laws, the bureau said. The Dodd-Frank Act gives the CFPB and other regulators the authority to implement rules and establish quality control standards for automated valuation models. In a Wednesday press release, the bureau listed several “options” for how it might do so. The options include requiring random sample testing and reviews, ensuring a high level of confidence in the estimates provided by the AVMs and protecting against data manipulation. How the CFPB will address the two latter points remains to be seen. Firms that develop automated valuation models have argued they might help to eradicate appraisal bias. CFPB Director Rohit Chopra disagrees. “It is tempting to think that machines crunching numbers can take bias out of the equation, but they can’t,” said Chopra. But prior to introducing a proposed rule, the CFPB, in accordance with federal law, must convene a small business review panel to get feedback from small businesses that could be affected by the proposal. The bureau notes that small entities such as real estate credit companies, secondary market financing companies and mortgage loan brokers may be directly impacted. The timeline for when the panel will take place is unclear. The CFPB said in an outline published on their website that within 60 days of convening, the panel must issue a report summarizing the input received from small businesses before the CFPB can propose a rule. The bureau added that they are considering a 12-month implementation period after issuance of an eventual interagency final rule. Fair lending enforcement and addressing appraisal bias have been top priorities for the Biden-Harris administration. In July 2021, the Department of Housing and Urban Development announced that it would spearhead an inter-agency task force to make recommendations on how to address appraisal bias. The report is expected in early 2022. The post CFPB weighs rulemaking on algorithmic bias in valuation models appeared first on HousingWire. [ad_2] Source link

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