Oil marketing cos rightly passed on the burden to buyers.
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.
Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
India's export basket for Pakistan has a limited portfolio as Pakistan has not given 'most favoured nation' status to New Delhi and such goods have ready market in South Asia and the Middle East.
'A 2018 murder may lead to shifts in the geopolitical order and impact at least one monarchy,' says Devangshu Datta.
Saudi Arabia's deep pockets and a strong financial system could help the country to ride out a low-price environment in order to protect its market share.
Demonetisation impact, earnings growth, central bank policies will get attention.
Top gainers among the S&P BSE Sensex include GAIL, Dr Reddy's Laboratories and Bharti Airtel, all edging up by 1% in late morning deals
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.
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
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.
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
India continues to apply import quotas on marble.
Belgian-born Rich, whose trading group eventually became the global commodities powerhouse Glencore Xstrata, died in hospital from a stroke.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
'By holding forth on Swadeshi economics, Bhagwat is showing his intent to fight back,' says Shekhar Gupta.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
Congress President Sonia Gandhi on Wednesday accused it of destabilising institutions, polarising society and mistaking its parliamentary majority for a licence to impose its narrow ideology on people
