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Updated: 5 hours 46 min ago

US says it brokered safe shipping in Black Sea

March 25, 2025 - 10:03pm
The United States said an agreement has been reached to ensure safe navigation in the Black Sea as it wrapped up three days of talks Tuesday with Ukrainian and Russian delegations in Saudi Arabia on prospective steps toward peace. US experts met separately with Ukrainian and Russian representatives in Riyadh, and the White House issued separate joint statements about the talks with Ukraine and Russia. It said the sides have "agreed to ensure safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea." Details of the prospective deal are yet to be released, but it appears to mark a revival of a 2022 agreement to ensure safe transit via Ukraine's Black Sea ports that was brokered by the United Nations and Turkey and was halted by Russia the following year. Russia had said the agreement failed to ensure safety of its Black Sea exports. Russian Foreign Minister Sergey Lavrov said in televised comments Tuesday that Moscow is open to the revival of the agreement but warned that Russian interests must be protected. In an apparent reference to the Russian demands, the White House statement on the talks with Russia noted that the US "will help restore Russia's access to the world market for agricultural and fertiliser exports, lower maritime insurance costs, and enhance access to ports and payment systems for such transactions." The White House statement also mentioned that the parties agreed to develop measures for implementing an agreement reached in President Donald Trump's calls with Russian President Vladimir Putin and Ukraine's President Volodymyr Zelenskyy to ban strikes against energy facilities in Russia and Ukraine. After the Trump-Putin call last week, the White House said the partial ceasefire would include ending attacks on "energy and infrastructure," while the Kremlin declared that the agreement referred more narrowly to "energy infrastructure." Meanwhile, a Kremlin official said Tuesday that the talks between US and Russian officials in Riyadh the previous day would likely lead to further contacts between Washington and Moscow, but that no concrete plans have yet been made. The three days of meetings - which did not include direct Russian-Ukrainian negotiations - are part of an attempt to hammer out details on a partial pause in the 3-year-old war in Ukraine. It has been a struggle to reach even a limited, 30-day ceasefire - which Moscow and Kyiv agreed to in principle last week -- with both sides continuing to attack each other with drones and missiles. Future US-Russia contacts expectedOn Tuesday, Kremlin spokesman Dmitry Peskov told reporters that the the outcome of the US-Russia talks in Riyadh "has been reported in the capitals" and was currently being "analysed" by Moscow and Washington, but that the Kremlin has no plans to release further details of what was discussed to the public. "We're talking about technical negotiations, negotiations with immersion in details," Peskov said, adding that while there are currently no plans for Trump and Putin to speak, such a conversation could be quickly organised if the need arises. "There is an understanding that the contacts will continue, but there is nothing concrete at the moment," Peskov said. He added that that there are no plans to hold a three-way meeting between Russia, the US and Ukraine. Senior Russian lawmaker Grigory Karasin, who took part in the Russia-US talks in Riyadh on Monday, told Russian state news agency RIA Novosti that the conversation was "very interesting, difficult, but quite constructive." "We were at it all day from morning until late at night," Karasin was quoted by the agency as saying on Tuesday. Cross-border strikes continueThe Russian Defence Ministry said on Tuesday that Ukraine had "continued deliberate drone strikes against Russia's civilian energy facilities." One Ukrainian drone attack on Monday knocked down a high-voltage power line linking the Rostov nuclear power plant with the city of Tikhoretsk in the southern Krasnodar region, the ministry said, adding that another drone strike had occurred on the Svatovo gas distribution station in the Russia-occupied Ukrainian region of Luhansk. "Zelenskyy confirms his inability to observe agreements and makes it impossible for outside guarantors of any potential agreements to control him," the ministry said. In Ukraine, the number of people injured Monday in a Russian missile strike on the centre of the city of Sumy rose to 101 people including 23 children, according to the Sumy regional administration. The strike on Sumy, across the border from Russia's Kursk region which was partially occupied by Ukraine since August, hit residential buildings and a school, which had to be evacuated due to the attack. Meanwhile, Russian forces launched one ballistic missile and 139 long-range strike and decoy drones into Ukraine overnight, according to the Ukrainian air force. Those attacks affected seven regions of Ukraine and injured multiple people.
Categories: Business News

Sebi puts WeWork IPO on abeyance; Indira IVF Hospital withdraws DRHP

March 25, 2025 - 8:20pm
Capital markets regulator Sebi has put WeWork India's IPO in abeyance, while returning the offer document of Star AgriwareHousing. According to another update, Indira IVF Hospital withdrew its draft IPO documents.Fertility clinic chain Indira IVF Hospital's IPO papers were filed through the confidential route. A confidential pre-filing route allows the company to withhold public disclosure of details under the DRHP. Further, pre-filing DRHP does not guarantee the company will go ahead with the IPO.WeWork, which filed DRHP in February, planned to offer 3.3 crore shares under the OFS route. As per the DRHP, Embassy Buildcon offered to sell up to 3.3 crore shares, while Ariel Way Tenant, through which WeWork Inc holds stake in the Indian company, is seeking to offer about 1 crore shares.Founded in 2017, the Embassy Group holds a 72.4% stake in WeWork India, while Ariel Way Tenant holds 22.28%.The company benefits from being part of WeWork Global, a flexible office space provider with about 600 wholly owned and licensed locations in 35 countries.As of March 2024, WeWork India recorded the highest EBITDA among benchmarked operators, the company said in the DRHP. In fiscal 2024, its operating income rose 26% to Rs 1,661.6 crore from Rs 1,314 crore the previous year. Operating profit before depreciation, interest and tax improved to 63.1% in FY24 from 60.7%, it said.As of the first half of the calendar year 2024, WeWork India achieved an average revenue-to-rent multiple of 2.7, surpassing the industry average, as per the DRHP. Currently, 93% of its portfolio (by area) consists of Grade-A developments, with over 85% of its stock located in 23 key clusters identified for flexible workspaces across the country, the document said.On the other hand, Sebi returned the draft IPO papers of Agriwarehousing and Collateral Management Ltd, a tech-driven agricultural services firm, on March 19.The company's proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 450 crore and an Offer-For-Sale (OFS) component of 2.69 crore equity shares by promoters and an investor, according to the draft papers filed in December.
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SSA check: Check April 2025 payment schedule

March 25, 2025 - 8:06pm
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All you need to know about BHIM 3.0

March 25, 2025 - 8:05pm
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India, China discuss Kailash Yatra resumption

March 25, 2025 - 7:45pm
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Jim Walker sounds alarm over US recession

March 25, 2025 - 7:20pm
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Trump aides used Signal to plan Houthi strike

March 25, 2025 - 6:48pm
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