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AstraZeneca Sells its Stake in Moderna for Over $1 Billion

AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported. The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna. AstraZeneca and Moderna did not immediately respond to requests for comment.
AstraZeneca is retaining a partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in the future if the virus becomes endemic, the report added. Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.

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Xi Jinping Meets Global CEOs Amid Slowing Investment

Dhruva Kulkarni

Chinese President Xi Jinping met with global CEOs in Beijing to attract foreign investment and support China’s slowing economy amid geopolitical tensions.  

Beijing faces challenges reassuring investors about its $18 trillion economy, with concerns over strict regulations, crackdowns on foreign firms, and a business environment favouring state-owned companies.  

Xi thanked foreign enterprises for contributing to trade, industry, tax revenue, and job creation. Around 40 executives, mostly from the pharmaceutical sector, attended the meeting as China seeks to reverse a sharp 27.1% drop in foreign direct investment (FDI) in 2024—the steepest decline since the 2008 financial crisis.

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He emphasised the role of multinational corporations in stabilising the global economy and urged them to support economic cooperation. The meeting followed the China Development Forum, where Premier Li Qiang called for open markets amid rising global uncertainty.  

Xi has also engaged domestic businesses, including a rare meeting with China’s top tech leaders last month, signalling efforts to restore economic confidence.

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Putin Accepts Modi’s Invite to India, Preparations Begin

Dhruva Kulkarni

Russian President Vladimir Putin has accepted Prime Minister Narendra Modi’s invitation to visit India, with preparations underway, Russian Foreign Minister Sergey Lavrov announced on 27th March.

Speaking at the ‘Russia and India: Toward a New Bilateral Agenda’ conference, Lavrov confirmed that arrangements for the visit are in progress but did not disclose the dates.

He noted that Modi’s first foreign visit after his re-election in 2024 was to Russia, adding, “Now it’s our turn.” Modi last visited Russia in July 2024 after nearly five years.

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On 24th March, Lavrov stated that Russia is developing a “privileged strategic partnership” with India while expanding ties with China, Iran, North Korea, and CIS nations.

In January, Putin emphasised Russia-India relations as a “special and privileged strategic partnership” in his Republic Day message to India.

Modi and Putin maintain regular communication, speaking over the phone every few months and meeting in person during international events.

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Canada Spy Agency Warns of India, China Meddling in Election on 28th April

Dhruva Kulkarni

Canada’s intelligence agency, CSIS, has warned that India and China are likely to interfere in the 28th April election, with Russia and Pakistan also posing potential threats.

The report comes amid strained Canada-India and Canada-China relations, with both nations denying the allegations. CSIS found evidence of foreign interference in the 2019 and 2021 elections but stated that the outcomes were not affected, noting Canada’s slow response.

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Deputy Director Vanessa Lloyd warned that China will likely use AI-enabled tools to influence the upcoming election.

Tensions between Canada and India worsened last year after Canada accused India of an assassination plot against a Sikh separatist, leading to diplomatic expulsions.

CSIS continues to monitor foreign interference threats, emphasising the need to safeguard democratic processes and maintain public trust.

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Trump Announces 25% Additional Tariff on Venezuela Trade

Ali Waghbakriwala
trump Impacts on Indian Stock Market

US President Donald Trump announced new tariffs targeting nations purchasing oil and gas from Venezuela.

On 24 March, Trump declared that the US would impose an additional 25% tariff from 2 April on countries importing oil from Venezuela, impacting both direct and indirect buyers.

“Venezuela has been very hostile to the United States and the freedoms we uphold. Any country purchasing oil or gas from Venezuela will have to pay a 25% tariff to the US on any trade they conduct with us,” Trump stated on Truth Social.

This new “secondary tariff” will be added to the existing duties, further tightening economic pressure on Venezuela.

In his announcement, Trump claimed that Venezuela has been deliberately sending criminals to the US, which he cited as one of the “numerous reasons” for imposing the tariff.

The decision, which could further destabilize global trade, is also expected to affect major importers like China, possibly disrupting supply chains.

Since his return to the White House in January, Trump has actively imposed tariffs on both US allies and rivals, using trade policies as leverage for economic and diplomatic negotiations.

The final decision on implementing the new levy will be determined by the US Secretary of State in consultation with other government agencies.

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US Trade Envoy to Visit India Before Trump’s Tariff Plan

Dhruva Kulkarni

With Trump’s reciprocal tariffs nearing implementation, a top US trade official is visiting India for key trade discussions.

Assistant USTR for South and Central Asia, Brendan Lynch, will lead a delegation to India from March 25-29, according to a US Embassy spokesperson.

The Wall Street Journal reports that while the White House remains committed to reciprocal tariffs, sectors like automobiles, pharmaceuticals, and semiconductors are unlikely to be affected initially.

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The “dirty 15” nations with the highest trade deficits with the US may still face country-specific tariff rates instead of a tiered system.

Although most imports will be impacted, the final tariff structure is still being determined.

The visit underscores ongoing trade negotiations as both nations work to manage potential disruptions. March 25-29 talks are expected to clarify India’s stance and possible exemptions before the official tariff rollout next week.

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