I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
In a culture where children take up the profession of their father, her becoming a politician was seen as natural and acceptable.
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
The Oil prices have surged and surpassed $85 per barrel after several oil producer countries announced surprise cuts in production, TASS Agency reported. According to the Russian News Agency, this is the first time since March 7 that the price of futures contracts of Brent crude oil surged. The price of futures contracts of Brent crude oil for June 2023 delivery on London's ICE surpassed $85 per barrel.
India, the world's third-biggest oil consumer, has conveyed to OPEC countries its concern over high oil prices that are threatening to impact the nascent economic recovery after the devastating pandemic. New Oil Minister Hardeep Singh Puri has made phone calls to key OPEC nations to convey the desire for an affordable price for consumers. After calling his counterparts in Qatar and the UAE, he called Organization of the Petroleum Exporting Countries (OPEC) kingpin Saudi Arabia on Thursday evening.
Ahead of a meeting of oil producers' cartel OPEC, India on Tuesday said the current oil prices are "very challenging" and rates need to be a "little bit sober" lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, said India is a price-sensitive market and it will buy oil wherever it gets competitive rates. The rebound in international oil prices from lows hit last month on the back of demand recovery has led to a spike in petrol and diesel retail prices in India.
'The hacker replaced original emails and planted fraudulent emails with a request letter and invoices to be paid to fraudulent bank accounts.'
The price of petrol was hiked to Rs 101.39 a litre in Delhi from Rs 101.19 and to Rs 107.47 per litre in Mumbai, according to a price notification of state-owned fuel retailers. Diesel rates went to Rs 89.57 a litre in Delhi and Rs 97.21 in Mumbai.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
Diesel price on Monday was hiked by 25 paise per litre -- the third increase since last week -- and more rate hikes for both diesel and petrol are in the offing in the coming days as international oil prices have soared to a three-year high. The price of diesel was hiked to Rs 89.32 per litre in Delhi and to Rs 96.94 in Mumbai, according to a price notification of state-owned fuel retailers. This is the second straight day of increase in diesel prices and the third since September 24 when the state-owned oil firms ended a three-week hiatus in rates.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
As the world's third-largest oil importer and consumer, India is running out of options as the relentless surge in international oil prices make it imperative to pass them on to consumers, officials said on Monday. India imports 85 per cent of its crude oil needs and about half of its natural gas requirement. While the imported crude oil is turned into fuels such as petrol and diesel, gas is used as CNG in automobiles and fuel in factories.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
The world, he said, needs to move towards a transparent and flexible market for both oil and gas.
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
US commercial crude oil stocks were forecast to have risen by 3 million barrels last week
'A 2018 murder may lead to shifts in the geopolitical order and impact at least one monarchy,' says Devangshu Datta.
Oil marketing cos rightly passed on the burden to buyers.
A realistic approach towards tax and stock taking is necessary, rather than the old narrative of bringing all petroleum products under GST and playing the blame-the-state game.
Government's fuel subsidy estimate was based on crude oil at $70.
The Middle East's power house is about to get a new ruler who is only 31 and he may lead Saudi Arabia for decades, says Ambassador M K Bhadrakumar.
Do Modi's foreign visits actually serve India or they nothing more than expensive tools for domestic positioning and image-building, asks Shehzad Poonawalla.
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