Marco Rubio says India-US ties of ‘critical importance’ | Hook News Wrap

Secretary of State Marco Rubio and Indian External Affairs Minister S. Jaishankar met in New York on Monday as the annual high-level gathering at the United Nations General Assembly kicks off.

"Secretary Rubio, reiterating that India is a relationship of critical importance to the United States, expressed his appreciation for the Indian government's continued engagement on a number of issues, including trade, defence, energy, pharmaceuticals, critical minerals, and other items related to the bilateral relationship," the US Department of State said in a statement.

This was the first direct and in-person interaction between senior-level officials of both countries since US-India ties turned sour this year. Washington and New Delhi were seen at odds about steep tariffs imposed by US President Donald Trump on Indian goods over India's purchase of Russian oil.

Palestine gains backing at UN

French President Emmanuel Macron officially recognized a Palestinian state at the United Nations on Monday, spurring a wave of Western moves to defy Israel in making the landmark -- if symbolic -- move.

Australia, Britain, Canada and Portugal also recognized a Palestinian state, piling pressure on Israel as it intensifies its war in Gaza. Monaco, Belgium, Andorra, Malta and Luxembourg then all recognized from the General Assembly podium, bringing the total number of recognitions to three-quarters of UN membership.

Israeli Prime Minister Benjamin Netanyahu has vowed not to allow a Palestinian state and far-right members of his cabinet have threatened to annex the West Bank to make statehood impossible.

Rupee slips to all-time low

Indian rupee slipping below the record 88.75 level against the US dollar will help enhance price competitiveness of Indian products in the international markets, but exporters cautioned that fluctuations could pose challenges at import front.

Import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they said.

The rupee depreciated 47 paise to hit an all-time low of 88.75 (provisional) against the US dollar on Tuesday, amid sustained outflow of foreign funds on the back of a steep hike in US H-1B visa fee that is expected to give a big blow to Indian IT services exports.

Ballon d’Or winners announced

Paris Saint-Germain winger Ousmane Dembele won the Ballon d'Or on Monday for his starring role in the club's Champions League triumph last season, while Spain's Aitana Bonmati claimed the women's prize for the third year in a row.

Dembele edged out Barcelona sensation Lamine Yamal to succeed Manchester City and Spain midfielder Rodri, who took the trophy in 2024.

Barcelona and Spain midfielder Bonmati won the women's prize by leaving behind her international teammate Mariona Caldentey.