NEW DELHI: India has sufficient foreign exchange reserves, low current account deficit and inflation rates, which collectively allow it to effectively mitigate the impacts of rising global crude oil prices and ensure domestic energy security despite the country’s high dependency on imported crude oil, a finance ministry report said on Friday.But it cautioned that if…
NEW DELHI: Government will use “every policy tool and the export promotion mission” to support exporters in the ongoing crisis in West Asia, commerce and industry minister Piyush Goyal said on Friday. “We are in complete engagement with exporters. Every day, the inter-ministerial group talks to exporters and takes feedback. We will not be found…
MUMBAI: The rupee closed at 91.75 against the dollar on Friday, down 15 paise from the previous close of 91.6, after a largely range-bound session marked by pressure from higher crude oil prices and foreign fund outflows.Suspected intervention by the central bank too influenced market movements. Heavy selling in domestic equities and withdrawals by foreign…
The United States has given “permission” to India to buy Russian oil already stranded at sea issuing a temporary waiver aimed at stabilising global oil supplies amid disruptions caused by the escalating conflict in West Asia.US treasury secretary Scott Bessent referred to India as a “very good actor” for previously complying with Washington’s request to…
Banking relief for UAE and Gulf amid Iran–US–Israel crisis: Emirates NBD Bank removes ATM cash withdrawal charges In a move aimed at easing financial access during a turbulent period in the Gulf, Emirates NBD has announced that it will temporarily waive ATM withdrawal fees at other banks’ machines across the UAE and the wider GCC….
Dubai records Dh422m apartment sale, third highest ever amid regional tensions Dubai’s ultra-luxury property market has delivered another headline-grabbing milestone. Even as geopolitical tensions ripple across the Middle East, the emirate has recorded a Dh422 million apartment sale, the third-most expensive residential apartment transaction in its history, highlighting the remarkable resilience of Dubai’s high-end real…
Indian refiners are currently paying a premium of $2 to $4 per barrel above Dated Brent for deliveries of Russia’s benchmark Urals crude. (AI image) In a quick and immediate fix to the Middle East oil supply shock, Indian refiners have begun purchasing readily available Russian crude oil. With ships and tankers currently not moving…
US stocks fell sharply on Friday as surging oil prices and disappointing economic data fuelled concerns about a potential stagflation scenario, where slowing growth combines with rising inflation.The S&P 500 dropped 1.6%, while the Dow Jones Industrial Average fell 909 points, or 1.9%, to 48,338.36 as of 9:35 am Eastern Time, AP reported. The Nasdaq…
NEW DELHI: The price of domestic cooking gas cylinders has been increased from Saturday (March 7), with the cost of a 14.2-kg LPG cylinder rising by Rs 60 across the country, according to sources cited by news agency ANI.With the latest revision, the price of a 14.2-kg domestic LPG cylinder in Delhi may increase from…
FILE -The Daily Telegraph newspaper with the front page of French President Emanuel Macron is seen at a supermarket in London, March 21, 2024. (AP Photo/Kin Cheung, File) German media conglomerate Axel Springer announced Friday that it was purchasing the UK’s Telegraph Media Group for £575 million, in a proposed deal subject to approval by…
