Putin-Trump summit in Helsinki on July 16

U.S. President Donald Trump and Russian President Vladimir Putin will hold their 1st summit on July 16 in Helsinki, Finland. The 2 leaders will discuss relations between US and Russia and a range of national security issues. It meeting would also entail high-level talks on US sanctions on Russia and Russia’s rejoining the Group of Seven industrialised countries to make it the G8 again.

US Ambassador to UN Nikki Haley visits India

US Ambassador to the UN, Nikki Haley is on a 2-day visit to India. Haley will meet with senior Indian government officials, NGO leaders, and the interfaith community to underscore the United States’ shared values and a strong alliance with the people of India. She is the first Indian-American to serve in a Cabinet-level position in any US presidential administration.

US dismisses 3rd party role in Kashmir dispute

The US administration has dismissed a third-party role in resolving the Kashmir dispute between India and Pakistan. “We believe the pace, scope and character of any discussion on Kashmir are for the two sides to determine,” it said. This comes after Chinese Ambassador to India Luo Zhaohui said trilateral cooperation between India, China and Pakistan could help resolve the issue.

Chief Economic Advisor Subramanian resigned

The Chief Economic Advisor (CEA) of India, Arvind Subramanian had resigned from the post and will return to the US because of “pressing family commitments”. The announcement was made by Mr Arun Jaitley. Subramanian was appointed as CEA to the finance ministry in October 2014, for the period of three years. In 2017 his term was extended for a year.

Brooks Koepka wins US open 2018

Brooks Koepka wins US Open 2018 by defeating Tommy Fleetwood at Shinnecock Hills becoming first player in 3 decades to successfully defend his title. Earlier the record was in name of Curtis Strange who won back to back titles in 1988 and 1989. The victory comes less than 2 months after Koepka returned from left wrist injury that kept him out of action since Jan 2018.

Fed Reserve raises rates

15 : In raising its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75% to 2%, the Fed Reserve of US marked a milestone in the U.S. central bank’s shift in monetary policy. After the rate-setting, Fed Chairman Jerome Powell said that the US economy is doing very well. The rate hike marks a shift in US policies used to battle the 2007-2009 financial crisis.

US approves sale of Apache choppers to India

The US government has approved a deal to sell six AH-64E Apache attack helicopters to India for $930 million. The US will also provide night vision sensors, control radars, Hellfire Longbow missiles and Stinger air-to-air missiles to India under the deal. “(The helicopters) will increase India’s capability to counter ground-armoured threats and modernise its armed forces,” the US said.

Trump & Kim Sign Agreement On Denuclearization

US has decided to provide security guarantees to North Korea, in exchange of Pyongyang’s firm and unwavering commitment to complete denuclearisation of the Korean Peninsula. This is according to the joint document which was signed by US President Donald Trump and North Korean leader Kim Jong Un. Both nations commit to establishing new relations in accordance with the desire of the people.

U.S. Pacific Command renamed

The United States renamed its strategically important Pacific Command (PACOM) to U.S. Indo-Pacific Command.Representatives from Australia, the United Kingdom, Japan, India, New Zealand, Canada, the Philippines, Thailand, Indonesia, Vietnam, Brunei, and Nepal attended the change-of-command ceremony in Pearl Harbor.The renaming recognizes India’s increasing military relevance for the US.

India’s external debt rises to US$ 529.7 bn

India’s external debt increased US$ 58.4 billion or 12.4% to US$ 529.7 billion end-March 2018 over its level at end-March 2017. The increase in the magnitude of external debt was partly due to valuation loss resulting from the depreciation of the US dollar against major currencies. Debt service payments have declined to 7.5% of current receipts in 2018 as compared with 8.3% in 2017.