India's National Security Adviser Ajit Doval engaged in diplomatic efforts with top officials from various countries, including the US, UK, Saudi Arabia, and Russia. He spoke to US NSA Marco Rubio, UK NSA Jonathan Powell, and Russian NSA Sergei Shoigu, among others. Additionally, Foreign Secretary Vikram Misri briefed diplomats from 13 UNSC member nations, while Foreign Minister S Jaishankar held phone calls with counterparts worldwide.
https://www.firstpost.com/explainers/operation-sindoor-how-india-made-it-difficult-for-pakistan-to-respond-militarily-to-strikes-13886453.htmlIndian National Security Advisor Ajit Doval spoke with US Secretary of State Marco Rubio shortly after India launched "Operation Sindoor", a missile strike on nine terrorist targets in Pakistan and Pak-occupied Jammu and Kashmir, targeting only known terror camps without hitting civilian or military targets.
https://www.ndtv.com/video/operation-sindoor-nsa-doval-speaks-with-us-secretary-of-state-shortly-after-india-strikes-on-pak-935937?hp#pfrom=home-ndtv_videoThe India-UK free trade pact has been signed, marking a significant shift in global trade dynamics amid rising protectionism. The deal will remove tariffs on 99% of all tariff lines for the UK and cut duties on 90%, with 85% becoming duty-free within a decade. This move is seen as a major boost to labour-intensive sectors, which are expected to gain from access to the UK market.
https://indiatoday.in/business/story/india-uk-free-trade-agreement-benefits-impact-goods-cheaper-costlier-decoded-2720888-2025-05-07Pakistan has condemned India's strikes on its territory, resulting in 26 civilian deaths, calling it an "unprovoked, cowardly and unlawful act of war." In response, Pakistan shot down five Indian fighter jets and vowed to retaliate. The region is at risk of escalation, with serious implications for economic stagnation, bilateral cooperation, and security. Neighboring countries such as China, Iran, Afghanistan, Nepal, Bangladesh, and Sri Lanka are vulnerable to the fallout. The conflict disrupts trade corridors, diverts foreign investment, and puts regional cooperation mechanisms like SAARC into paralysis. India's vast military expenditures come at the cost of domestic development, including education, health, and infrastructure in Pakistan.
https://www.brecorder.com/news/40361488/the-perils-of-escalation-why-south-asia-cannot-afford-another-india-pakistan-standoffColombian President Gustavo Petro plans to sign a "letter of intent" to join Beijing's Belt and Road Initiative during his upcoming trip to China, marking a significant shift in the country's economic ties. The move is expected to strain relations with the US, particularly under President Donald Trump, who has imposed tariffs on Colombian products and sparred with Petro over deportations. Chinese officials have been pushing for Colombia's participation, which could bolster Beijing's influence in Latin America and counter US efforts to contain its growing global presence.
https://www.malaymail.com/news/world/2025/05/07/colombia-moves-to-join-chinas-belt-and-road-initiative-risking-further-strain-with-us/175885Russian President Vladimir Putin and Chinese counterpart Xi Jinping will discuss the long-stalled Power of Siberia 2 gas pipeline during Xi's visit to Moscow this week. The project, proposed by Putin in 2022, aims to increase China's Russian gas purchases to offset losses in European markets. However, China has insisted on pricing gas at Russia's domestic rate, which may be reconsidered as the talks revive. The first Power of Siberia pipeline came online in 2019 and reached full capacity by 2023, with the second phase planned to transport gas from Russia's Yamal fields via Mongolia or a more direct route to China.
https://www.themoscowtimes.com/2025/05/07/putin-and-xi-to-discuss-stalled-power-of-siberia-2-pipeline-in-moscow-bloomberg-a89004The article discusses the growing threats to risk managers, including geopolitical tensions over the West Philippine Sea and Taiwan, rising global tariffs, and their impact on trade and supply chains, highlighting the need for insurance practitioners to acknowledge and address these real-world risks.
https://www.manilatimes.net/2025/05/08/opinion/columns/we-need-to-talk-about-global-risk-yes-even-in-insurance/2108089Singapore is taking steps to overcome climate paralysis by increasing funding for carbon projects, with the Economic Development Board and the Monetary Technology Institute announcing more seed funding for such initiatives. This move aims to address the trillions of dollars needed annually for climate projects, which can be investment opportunities for private capital. The country's entities will also be able to list product carbon data aligned with global methodology, while a partnership between Tencent and Temasek-backed GenZero could cut over one million tonnes of greenhouse gases via carbon credits. Additionally, the Bill and Melinda Gates Foundation is opening an office in Singapore, its 12th worldwide, as part of its efforts to tackle regional health challenges and just energy transition.
https://www.businesstimes.com.sg/esg/singapores-blended-finance-initiative-set-dedicated-office-support-asias-decarbonisationSouth Korea has requested the US to make "special consideration" for its chip exports as the Trump administration is imposing tariffs on imported semiconductors. The South Korean government submitted a written opinion to the US administration regarding Washington's national security investigation into semiconductor imports under the US Trade Expansion Act.
https://www.lokmattimes.com/health/s-koreas-bio-industry-urges-us-to-exempt-it-from-proposed-pharmaceutical-tariffs/