Brent crude future
International

Early trade saw oil prices rise on expectations of a revival in Chinese demand

In early Asian trade on Wednesday, oil prices jumped more than $1 a barrel on optimism of a revival in demand in China as the country gradually eases some of its harsh COVID-19 containment restrictions. At 0042 GMT, Brent crude futures were up $1.15, or 1.0 percent, at $113.08 a barrel, while West Texas Intermediate […]

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rising oil prices
World News

PM Wickremesinghe warns the crisis-stricken country that petrol supplies are running out

On Monday, Sri Lanka’s new prime minister said the country was down to its last day of petrol, while the country’s power minister warned citizens not to join the long fuel lines that have sparked weeks of anti-government rallies. In a speech to the nation on Thursday, Ranil Wickremesinghe, who was appointed Prime Minister on […]

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Reserve Bank of India
India

PSB fraud is down 51% to Rs 40,295 crore, yet the number of cases is still rising: RBI

During the financial year ending March 2022, public sector banks reported a 51% decrease in the amount involved in frauds, to Rs 40,295.25 crore, according to the Reserve Bank of India. The Reserve Bank said in response to a request under the Right to Information Act that the 12 PSBs (Public Sector Banks) recorded frauds […]

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oil prices rise
Business

Even as reduced demand threatens to limit increases, oil prices continue to rise

Early Friday trade saw oil prices rise, but they were poised for their first weekly losses in three weeks as concerns about inflation and China’s COVID lockdowns slowed the global economy, outweighing concerns over declining Russian fuel supplies. At 0008 GMT, Brent crude prices were up 97 cents, or 0.9 percent, at $108.42 a barrel, […]

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power subsidy
India

Delhi: Customers will be able to opt-in or out of the power subsidy via online and physical channels

Officials claimed that consumers will be offered both online and offline choices to opt-in or out of the Delhi government’s power subsidy on monthly consumption of up to 400 units of electricity. Delhi Chief Minister Arvind Kejriwal declared this week that if consumers desire it, they will receive a power subsidy. The government decided to […]

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wheat exports
Economy

India sells a record 1.4 million tonnes of wheat in April as Black Sea supplies fall

According to four trade sources, India exported a record 1.4 million tonnes of wheat in April, bringing some relief to grain markets as buyers hunt for alternatives to the Black Sea supply hit hard by the Ukraine conflict. The first month of the fiscal year is April. In fiscal 2021-22, India, the world’s second-largest wheat […]

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coal shortage in India
World News

Metal firms, desperate for coal, looking for fuel in other countries

A coal shortage in India has caused sponge iron makers to scour the globe for supplies to keep their mills going, adding to inflationary pressures as they rely on more expensive imports. According to Managing Director V.R. Sharma, Jindal Steel & Power Ltd., which is running its sponge iron facilities at 40% capacity due to […]

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COVID-19 vaccine doses
Covid19

Around 190.33 crore doses of coronavirus vaccination have been administered: Govt

The total number of COVID-19 vaccine doses delivered in the country surpassed 190.33 crores on Sunday, according to the Union Health Ministry. Until 7 p.m. on Sunday, more than 11 lakh (11,93,312) vaccination doses had been administered. With the compilation of the final reports for the day by late night, the daily vaccination tally is […]

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edible oil prices
Economy

To keep edible oil prices from rising, the govt intends to reduce taxes on it

According to persons acquainted with the situation, India is considering reducing tariffs on various edible oils to chill the home market after the war in Ukraine and Indonesia’s restriction on palm oil exports caused prices to rise. India, the world’s largest importer of vegetable oils, is trying to reduce the agriculture infrastructure and development cess […]

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COVID-19 cases
Covid19

117 new COVID-19 cases are reported in Mumbai, the most since February 25

Mumbai reported 117 new coronavirus positive cases on Wednesday, the city’s highest one-day total since February 25, bringing the city’s overall count to 10,60,187, according to the city municipal authority. The mortality toll in Mumbai remained steady at 19,563 as no one died from the infection in the recent 24 hours, according to a bulletin […]

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