Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
Brent crude oil prices may rise to $110 a barrel in 2023, up nearly 33 per cent from the current levels, said analysts at Morgan Stanley, in a recent note. This is, however, lower than the peak level of nearly $127 touched earlier in 2022 as geopolitical concerns took centre stage amidrising demand. "Looking ahead, Brent oil price growth will decelerate even more in the coming quarters. "This comes even as our global oil strategist expects a rise in oil prices back to $110 a barrel by the second half of 2023.
Biden said that the Saudi Crown Prince told him he was not "personally responsible" for Khashoggi's murder.
'Right time, right place, right business and I could see I was the right person. It was a now or never moment in a sense. If I didn't do it then, then when? There is little point in entering a business as an entrepreneur when someone else has proven the concept.' BJP leader Yashwant Sinha's son started ReNew Power during the UPA II government to focus on clean energy.
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
As the debate is on to decontrol fuel prices, the Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday said it would be a bad idea to continue with subsidies to keep oil prices subdued.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
Macron held a tete-a-tete with Modi before the delegation-level talks at the Elysee Palace - the official residence of the French president.
India's goal of self-reliance has been paramount in the policy and practice of the country. The COVID-19 crisis gave us lessons on how to speed up efforts in that direction, he said.
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
The World Meteorological Organisation (WMO) has officially confirmed that 2023 is the hottest year on record by a huge margin, smashing global temperature records.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
The 47-year-old senior cabinet minister was widely expected to become the third female British Prime Minister after 170,000 online and postal votes cast by Tory members, ending Sunak's historic run as the first member of Parliament of Indian heritage to compete for the top job at 10 Downing Street.
The Federation of Indian Chambers of Commerce and Industry (Ficci) president RV Kanoria calls for privatisation of Coal India Limited (CIL), the world's largest coal producer and India's public sector unit.
Pakistan should not buy electricity from India, Jamaat-ud-Dawah chief Hafiz Saeed has told the government, days after Prime Minister Nawaz Sharif directed his power minister to visit India to address the severe energy crisis facing the country.
Despite the nuclear crisis in Japan, Prime Minister Dr Manmohan Singh on Saturday night batted for nuclear power as an essential option of energy and said the present "nervousness" in the world would end when the issue is discussed in a "cool-headed" manner.
Prime Minister Narendra Modi on Tuesday underlined the need for not promoting any restrictions on the supply of energy and called for ensuring stability while once again emphasising on resolving the Ukraine conflict through diplomacy.
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister's comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
According to the Ministry of Energy, the system of frequency of the national grid went down at 7:34 am local time, resulting in the breakdown.
Sidhu said there would be no need for Amarinder to go for power cuts or to regulate the office timings if the state acts "in the right direction".
India figured prominently in a leading Washington think-tank's recently simulated energy crisis, which brought together leading energy and regional experts from across the United States, to examine the likely response of various countries to a major terrorist attack on energy distribution and production facilities in the Middle East and Southeast Asia.
Adopted after nearly two weeks of hectic negotiations, the first Global Stocktake deal, being termed the UAE consensus, urges countries to accelerate efforts toward the phase-down of unabated coal power, which is a climb down after India and China strongly resisted the singling out of coal.
The International Monetary Fund (IMF) has said India and China will account for half of the global economic growth in 2023, as the multilateral agency retained its growth forecast for Asia's third-largest economy for 2023-24 (FY24). "India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a tenth for the US and euro area combined," the IMF said in its latest update to the biannual World Economic Outlook. Growth in India is set to decline from 6.8 per cent in 2022 (FY23) to 6.1 per cent in 2023 (FY24) before picking up to 6.8 per cent in 2024 (FY25), the global lender said while citing "resilient domestic demand despite external headwinds".
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
President Francois Hollande on Friday pitched for French excellence finding its 'rightful place' in the fields of civil nuclear and renewable energy in India, even as he assured investors here that the euro zone crisis was 'behind us'.
The world would face a looming oil supply crisis because of drop in the production, Iran's OPEC governor has warned, adding that crude is still undervalued and set to hit $100 in the short term.
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
The Pakistan government is reported to have raised the issue of its agrarian lands drying up due to India's water conspiracy with visiting United States Special Representative to Pakistan and Afghanistan Richard Holbrooke.
The multi-million-dollar Iran-Pakistan gas pipeline project is unlikely to be completed by the contractual deadline of December 2014 because of the political transition in Islamabad, officials have said.
Prime Minister-designate Nawaz Sharif on Thursday sought civil nuclear technology to overcome Pakistan's energy crisis during a meeting with Chinese Premier Li Keqiang.
'If attacks escalate, there is a risk the Suez Canal may be closed.'
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
A small British firm claimed to have developed a revolutionary new technology that can produce petrol using just air and electricity.
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