With volatile international oil prices costing the country $43 billion in import bill, energy-hungry India has called for forging enduring partnerships between oil producing and consuming countries to contain the effect of surging oil prices.
Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
In Dubai, A Ganesh Nadar encountered high speeds on smooth-as-silk-roads, no bureaucracy, gold, Mr Toad's. And snow!
He said there should be no politics on the issue as it relates to the rights of Muslim women.
Crude oil prices have more than doubled, pushing up India's import bill and raising fears of a higher current account and fiscal deficit. This will impact corporate earnings.
'I would urge my Indian friends to look at how significant the overall support was.'
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
Rulers in New Delhi and their political aides in sensitive states like Tamil Nadu have to be doubly careful not to provoke a situation whose consequences may be much more than visible now to the naked eye, notes N Sathiya Moorthy.
Economy to grow 6.5% in 2016 on better macro conditions, says Mckinsey.
Replying to the no-confidence motion, Prime Minister Narendra Modi asserted on Thursday that the opposition's move is auspicious for his government as he expressed confidence that the Bharatiya Janata Party and its allies will break old records to retain power at the Centre in the 2024 Lok Sabha polls.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
Gandhi also said the idea of 'One Nation, One Election' was aimed at distracting from real issues of the people.
Science and Technology Minister Prithviraj Chavan, who is in-charge of Department of Atomic Energy, said the country lacks a law under which compensation could be awarded in the case of a nuclear accident.
A few years ago, when top officials of Indian state-run refiners went to Dubai to negotiate a crude oil supply contract, a senior official from state-owned Saudi Aramco told them, "We can negotiate on anything, but I am the last man standing for you. "Nobody can offer the range of crudes we do with certainty," an official who was part of the negotiating team recalls. Perhaps that explains why Saudi Arabia is less concerned about losing its place as India's premier oil supplier to an upstart like Russia, which emerged from nowhere to become India's biggest crude oil supplier in September and October.
Mainstream American newspapers, many of which had been sceptical of India's space mission and sometimes even made fun of it through cartoons, noted the great Indian achievement.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
The winter session of Lok Sabha was adjourned sine die on Tuesday after passing 18 legislations, including amendment bills on amend coal mines allocation and labour laws, in 22 sittings.
Generally, before adjourning the house sine die the chair reads out the statistics about the business transacted in the house in detail.
India's rupee is likely to remain under pressure due to high prices of crude oil and other commodities, and may stabilise at around 79-80 against the US dollar in the near term, say experts amid limited headroom available with the Reserve Bank to check the weakening of the domestic currency. The currency has slumped over 5 per cent this year after Russia's invasion of Ukraine sent international crude oil prices soaring to a decade high. On Monday, rupee ended at a fresh all-time low of 78.34 (provisional) against the US dollar.
A massive data breach that has implications for national security was unearthed by the Cyberabad Police in Hyderabad, who arrested seven people of a gang allegedly involved in the theft and sale of sensitive data of the government and important organisations, including details of defence personnel as well as the personal and confidential data of about 16.8 crore citizens.
"We will be guided by our national interest," he said.
During the day-long debate, the lines between science and religion often got blurred with many invoking religious texts and the contribution of 'rishi munis' to highlight India's tryst with the extra-terrestrial world.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
It's difficult to understand if GDP growth has actually improved.
Arvind Mayaram, economic affairs secretary at the finance ministry, also said that a fall in bulk diesel demand this fiscal year will save the government about $1 billion.
The bill now heads to the White House for President Donald Trump's approval.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Bharatiya Janata Party's M Venkaiah Naidu is proud of the fact that he never speaks to reporters off-the-record. He has a bluff, hearty, no-nonsense style -- that can be misunderstood. Archis Mohan reports
'It is building the country's infrastructure, and delivering it very efficiently.'
Here are some facts about Rishi Sunak and his India connections.
If oil prices stay at their new level of $72 or drop further, India will be in the happy position next year of enjoying a surplus on the trade account.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
'We are planning load shedding in such a way that the entire state will not suffer.'
Oil subsidies to fall 44% in FY15.
The US trade deficit narrowed less than expected in October as lower crude oil prices failed to offset a jump in imports, while an increase in exports suggested the economy was weathering faltering global demand.
Rishi Sunak rushed to the side of a television host after she fainted live on air during a UK prime ministerial election debate, which was cancelled mid-way through.
'This is still a relatively immature defense and high-tech relationship.'
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
The Indian position on the Russia-Ukraine war and the unconditional treaty between China and Russia appear to have caused some ripples in India-US relations and led to a reappraisal of India's usefulness to the US in the eventuality of a conflict with China, notes Ambassador T P Sreenivasan.
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