Saudi Arabia signed a memorandum of understanding with Turkey today to pursue a rail link between the two countries.

An Indian government official said the government plans to abolish long-term capital gains tax on bond holdings by foreign portfolio investors to seek inclusion in a Bloomberg index.

Refinitiv reported EU diplomatic sources saying the EU plans to propose on Wednesday a 21st sanctions package aimed at Russia’s banking sector to raise the risk of a banking crisis and pressure Moscow toward peace talks. The proposal could add up to 90 banks; if approved, sanctioned banks would exceed 100 and account for more than 50% of Russia’s internationally active credit institutions. Measures would include asset freezes, travel bans and transaction bans. The package would also seek to keep the Russian oil price cap at $44.10 per barrel for six months and tighten restrictions on the shadow fleet.