This may come as a surprise to many. Retail price inflation in petrol was the lowest at 10.21 per cent in March since November 2020. In diesel, it scraped the bottom of the barrel at 5.19 per cent in the last month of 2021-22 since February 2020. Even liquefied petroleum gas (LPG) was at a nine-month low of 9.97 per cent in the month.
Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Prithviraj and Nivin Pauly stole the show this year.
The big feature is the introduction of the 1.5-litre four-cylinder diesel engine.
Oil and Natural Gas Corp, which had last year firmed up an investment of Rs 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528.10 crore (USD 3.2 billion) in developing the ultra-deepsea UD-1 find.
The Korea Olympic Committee has turned down Park Tae-hwan's appeal to overturn a controversial doping suspension, leaving the swimmer's hopes of competing at the Rio Games in the hands of the Court of Arbitration for Sport (CAS).
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
Forty-five cows, 20 calves and a double barrel gun with 50 cartridges are among the possessions of former Bihar Chief Minister Rabri Devi who is contesting the Lok Sabha polls as a Rashtriya Janata Dal candidate from Saran constituency.
The Gujarat high court quashed a First Information Report filed against member of Parliament Vitthal Radadia for allegedly brandishing his gun at a toll booth in Karjan after the complainant said he "did not wish to pursue the case".
A huge cache of arms, a rivate swimming pool, state-of-the-art elevators and 24 AC rooms with one having a massage bed were found inside the highly-fortified Satlok Ashram from where 'godman' Rampal was 'smoked out'.
'He wrote a letter to his parents every night, and read the Gita every morning before going about his work.'
In a daring daylight heist, two unidentified armed assailants looted a cash van of around Rs 1.5 crore after allegedly killing an ATM security guard in Kamla Nagar area of North Delhi on Saturday morning.
'Kunji Ramayanam was entertaining and had a likable plot. We thought that even if the film did not have a great initial, it would pick up. That's why we took the risk of releasing it along with the big names, during Onam,' director Basil Joseph tells Vijay George.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
Here's a glimpse of all that happened around the world last week.
The Indo-French pair was staring down the barrel, trailing by two sets but put the match on even keel before eventually going down 2-6, 4-6, 7-6(5), 6-4, 9-11 in three hours and 37 minutes on court number six.
Authorities faced double-barrel challenge -- strengthening its check and prevention mechanism, and addressing public panic, leading to hoarding of essential items.
'If you are invested in mid-cap and small-cap stocks, even if you are making losses right now, it is better to sell them now and sit on cash.'
The company is in the process of doubling its production to 800 oil barrels a day from the current 400 barrels a day, from a part of the field called prospect-B.
While this benefit of easing fuel cost should have been passed on to consumers through the review of FAC due this month, the Railways does not intend to revise freight and passenger fares until the next Budget to be presented in February.
Indian refiners will buy less oil from Saudi Arabia next month as they snap up supplies outside of the Middle East as part of diversification drive amid weakening domestic fuel demand on the resurgence of COVID-19. State-owned Indian Oil Corporation (IOC) and three other refiners have sought just 65 per cent of the monthly average of about 15 million barrels from Saudi Arabia in May, three sources with knowledge of the matter said. The move follows tensions between India and Saudi Arabia over the Kingdom's hawkish stance on boosting production to cool prices.
After a sharp sell-off in the past two months, overseas investors were once again seen turning bullish on Indian equities. FIIs bought shares worth Rs 63.5 billion in the past five sessions, their highest weekly investment tally in many months.
He is now in the custody of Rajasthan Police for further probe, city Crime Branch's Assistant Commissioner of Police K N Patel said on Monday.
Canada's Parliament came under attack on Wednesday with a barrage of gunshots fired both inside and outside the building as a soldier was killed in the assault and a man with a rifle was gunned down by security forces.
India is the world's fourth-biggest oil consumer, importing four-fifths of its needs as its own output shrinks.
After consumer price index jumped the 6.3-per cent mark in May and wholesale inflation set a record of 12.94 per cent, house economists at Swiss brokerage UBS Securities have warned that the country is facing more upside risks on the inflation front that is set to averaging at 5 per cent for the year. Rising prices of edible oils and protein rich items pushed retail inflation to a six-month high of 6.3 per cent in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term. Led by petrol price, that has crossed the Rs 100-mark in many states, wholesale inflation too accelerated to a record 12.94 per cent in May. While crude oil has crossed $70 a barrel on account of rising prices of crude oil and manufactured goods due to spike in commodities, and the low base of last year due to the lockdown.
One of the reasons is that the retail prices are not bench-marked to crude but their respective international benchmark prices.
The Badminton World Federation (BWF) shut down the world tour and other sanctioned tournaments following the completion of the All-England in March due to the global health crisis.
'Economic issues do not matter during elections; it is the emotional connect that helps swing votes.'
The price of the Indian basket of crude oil jumped as much as 78 per cent to cross $50 a barrel last week, from a multi-year low of $28 in January.
The second part of journalist Rajdeep Sardesai's interview to Sheela Bhatt/Rediff.com.
The drop in oil to around $50 a barrel this year has triggered steep cutbacks in production of US shale oil
The fact is that it will take two to three years to fix the economy, and it would be advisable to say as much and manage expectations.
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
'I have more respect for this kind of cinema,' actress Swati tells Radhika Rajamani.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
Reliance Industries will set up a 50,000 barrels per day refinery in Yemen, where it has already picked up stake in two oil blocks.
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
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