Group of Seven (G7)
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G7 Summit Embraces India-Middle East-Europe Economic Corridor Initiatives
Identification of key initiatives from the Communique are to "promulgate G7 PGII, including flagship projects for economic corridors by means of solid infrastructure and investment." These include the development of improved coordination and financing for corridors such as the Lobito, Luzon, Middle, and the most important one, that of the India-Middle East-Europe Economic Corridor. They are building on those types of initiatives like the EU Global Gateway, Great Green Wall Initiative, and Mattei Plan for Africa of Italy.
Goyal pushes for resilient supply chains at G7 meeting in Osaka
Goyal said that the Covid-19 pandemic and the geopolitical events highlighted the vulnerabilities of the existing supply chains leading to an increase in commodity prices and global inflation.
India holds trade talks with Japan, UK on sidelines of G-7 meet in Osaka
Held a meeting with @Nishy03 , Minister of Economy, Trade and Industry, Japan, on the sidelines of the G7 Trade Ministers' Meeting in Osaka.
G7 finance chiefs address global economic uncertainty as US debt crisis looms
In a joint statement issued after their meeting in the Japanese city of Niigata, the G7 finance ministers and central bank governors said they "need to remain vigilant and stay agile and flexible in our macroeconomic policy amid heightened uncertainty about the global economic outlook."
EU, G7 impose price caps on Russian petroleum products
The price cap for "premium-to-crude" petroleum products, such as diesel, kerosene and gasoline, is set at $100 per barrel, while the cap for "discount-to-crude" petroleum products, such as fuel oil and naphtha, is set at $45 per barrel, the EC was quoted by Xinhua news agency as saying .
Britain the only G7 economy forecast to shrink in 2023
Adding to growing political pressure on UK Prime Minister Rishi Sunak after the sacking of the Conservative party chair Nadhim Zahawi, the Washington-based IMF warned on Tuesday it expected the UK economy to contract by 0.6 per cent this year - 0.9 percentage points worse than it had pencilled in just three months ago and slower even than sanctions-hit Russia, The Guardian reported.
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