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CANBERRA, Australia (AP) — Australian special envoy and former Prime Minister Tony Abbott said a free trade agreement between his nation and India would signal the “democratic world’s tilt away from China.”

Abbott visited New Delhi last week as Australia’s special trade envoy for India as the Australian government gives priority to sealing a bilateral trade deal.

In an opinion piece likely to anger Beijing that that was published in The Australian newspaper on Monday, Abbott said the “answer to almost every question about China is India.”

Singapore, Aug 7 (PTI) Singapore's Health Minister Ong Ye Kung has warned that more people will come down with COVID-19 as the trade and financial hub opens up its economy and moves towards treating the virus as an endemic.

"Our companies cannot grow if businessmen and managers cannot travel overseas to meet clients and partners. MNCs (multinational corporations) will find it hard to invest here if their people are not able to travel in and out of Singapore," the minister stressed.

New Delhi, Aug 6 (PTI) A bill that aims to end all retrospective taxation imposed on indirect transfer of Indian assets was passed by the Lok Sabha on Friday amidst continuous protests by opposition over the alleged snooping through the Pegasus spyware and other issues.

When the 'The Taxation Laws (Amendment) Bill, 2021' would be passed by Rajya Sabha too, all tax demands made on companies like Cairn Energy and Vodafone using a 2012 legislation on indirect transfer of Indian assets prior to May 28, 2012 will be withdrawn.

New Delhi, Aug 6 (PTI) Air Chief Marshal RKS Bhadauria flew a sortie in an F-15 fighter aircraft in Israel on Thursday apart from holding wide-ranging talks with his Israeli counterpart Maj Gen Amikam Norkin on further boosting bilateral military cooperation, officials said.

The Chief of Air Staff (CAS) reached Israel on Tuesday on a three-day visit from the United Arab Emirates.

Hyderabad, Aug 5 (PTI): Bharat Biotech's COVID-19 vaccine Covaxin has received Good Manufacturing Practices (GMP) compliance certificate from Hungary, the vaccine maker said on Thursday in a tweet.

The company in a separate press release said Covaxin production, which started in early Junein Malur and Ankleshwar facilities, will be available for commercial supplies in September.

Mumbai, Aug 6 (PTI) The Reserve Bank of India (RBI) on Friday expectedly kept interest rates unchanged at a record low as it chose to support economic revival over inflation.

The six-member Monetary Policy Committee voted unanimously to retain the main repurchase rate at 4 per cent but was split on continuing with the lower-for-longer stance.

05 Aug 2021; MEMO: The administration of US President Joe Biden has extended the exemption period granted to Iraq from sanctions related to dealing with Iran for a period of four months, an Iraqi official said yesterday.

AFP quoted an unnamed Iraqi official as saying that under the new exception, Iraq will be able to continue importing electricity and gas from Iran for an additional four months, ending in early December.

05 Aug 2021; MEMO: Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, announced yesterday that Lebanon will receive $860 million from the IMF's Special Drawing Rights (SDR) Fund, to strengthen the country's depleted reserves and also to help meet the many urgent needs of the Lebanese people.

Washington, Aug 3 (AP-PTI) The governing body of the International Monetary Fund has approved a USD 650 billion expansion in the agency's resources to support economically vulnerable countries battling the coronavirus pandemic and the economic downturn it has caused.

The 190-nation lending institution said Monday that its board of governors approved the expansion of its reserves known as Special Drawing Rights, the largest increase in the institution's history.

New Delhi, Aug 3 (PTI) Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts.

One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias.