Modi, Xi push business links, border peace as ties revive - Business Recorder

• Citi analysts forecast that the EUR/USD currency pair could retest the 1.17 level following the upcoming Federal Reserve interest rate decision. • The prediction focuses on the potential price movement of the Euro against the U.S. Dollar based on central bank policy shifts.

• Central banks in the U.S., UK, and Japan will announce interest rate decisions on successive days starting this Wednesday. • These three decisions will follow the release of the August jobs report for Lima, where the unemployment rate reached a record low of 4.7 percent in July.

• Indian equity markets declined on Friday, causing the Nifty and Sensex indices to close lower for the fifth consecutive week. • Investors reacted to rising crude oil prices and increasing US bond yields during the trading session.

• Chinese President Xi Jinping and Indian Prime Minister Narendra Modi held a bilateral meeting during the 18th Brics summit in New Delhi. • President Xi stated that India and China can learn from one another to achieve shared development.

• Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met on the sidelines of the BRICS summit to discuss strengthening business ties and restoring border peace. • The meeting marks a recovery in diplomatic relations following a violent border clash between the two nations in 2020.

• Journalist Vinod Sharma and expert Santosh Pai recently advocated for India to improve its diplomatic ties with China ahead of the 2026 BRICS summit in Delhi. • Santosh Pai detailed this perspective in an article titled ‘Neighbours with benefits’ to argue for a more cooperative relationship.

• India's trade with China has nearly doubled over the last five years, creating a widening trade deficit for New Delhi. • Some imports appearing to come from other countries are actually Chinese goods that were processed or repackaged in Southeast Asia.

• Prime Minister Modi is preparing to meet President Xi Jinping as bilateral trade between India and China reaches $127.7 billion. • India's trade deficit with China has widened to nearly $100 billion.

• Prime Minister Modi and President Xi Jinping are scheduled to meet following a period of strained relations caused by a deadly 2020 border clash. • Both nations reached disengagement pacts that resulted in the withdrawal of troops from several confrontation points along the border.

• Prime Minister Narendra Modi and President Xi Jinping reaffirmed the need for a strategic, long-term perspective on India-China relations during a meeting on Saturday. • The leaders emphasized the importance of border peace and a resolution to boundary questions that is fair, reasonable, and mutually acceptable.

• Foreign investors are selling off Indian stocks as they shift their capital toward markets with stronger artificial intelligence growth themes. • Foreign ownership of Indian shares has dropped to a 17-year low due to high valuations.