The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
A step away from nuclear weapons being used in conflicts, warns Colonel Anil A Athale (retd).
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
'The long-term impact of elections is minimal.'
Meanwhile, Israel has expressed its "deep disappointment" with China's response to the war.
The contest between the two nations, who severed ties more than 40 years ago, was being held with increased security to prevent a flare-up over the unrest that has gripped Iran since the death in custody of 22-year-old Mahsa Amini on Sept. 16.
Islamabad also summoned the Iranian charge d'affaires here and issued a strongly worded condemnation of Iran's "violation of its airspace", the Foreign Office said.
When mainstream Hindi cinema is preoccupied with romance, comedy, horror and action, stories about sisters and brothers are very rare. Vasan Bala has made a first-of-its-kind film where the leads play sister and brother, notes Aseem Chhabra.
While the announcement of the deal came on Friday, at a time of increased tension with Iran, Pentagon Press Secretary George Little said in a statement that the deal was inked on December 25 when the US and UAE signed a Letter of Offer and Acceptance (LOA) for a Foreign Military Sales-configured Terminal High Altitude Area Defence System, valued at approximately $3.48 billion.
Indian Ambassador to the US Harsh Vardhan Shringla said India has stopped importing oil from Iran after the United States refused to extend exemption from sanctions earlier this month.
As tensions mount in the Gulf over Iran's nuclear ambitions, Israel is reported to have armed its new fleet of submarines supplied by Germany with nuclear tipped cruise missiles.
The relationship between the US and India has been very productive, in particular on the trade and technology front, and 2023 can be considered the best year historically for bilateral ties, according to a former top American trade official. Arun Kumar, an Indian-American, who served as the assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service (USFCS) during the Obama administration, said this during an interview with PTI in Washington. "Looking back on 2023, it was a very productive year for the US-India relationship, by many accounts the best year historically," he said.
Pakistan's ministry of foreign affairs said that the violation of Pakistan's sovereignty is "completely unacceptable" and warned of serious consequences.
Speculation is rife that Xi is likely to make an attempt to initiate peace talks between Russia and Ukraine to end the ongoing conflict in Ukraine.
Morocco, in second place in their group but tied on 4 points with top team Croatia, play their final game of the group stage against Canada on Thursday.
Other losers included Maruti, HDFC, Hero MotoCorp, Sun Pharma, HUL, Kotak Bank, Coal India, RIL, TCS and Bharti Airtel, shedding up to 3.39 per cent.
Silver crossed the coveted Rs 50,000 per kg mark today by rising Rs 1,200 to Rs 50,500 per kg, while gold surged to an all-time high of Rs 21,240 per 10 grams, an increase of Rs 300 from its previous close, on brisk buying by jewellers for the ongoing marriage season.
The Indian economy is in a strong footing. The only areas of apprehension are the impact of crude prices on the fiscal situation and on the interest rates.
The rivalry between the local leaders of the two parties could be a cause of concern for Shinde.
Bush and Danish Premier Rassmusen reiterated the importance of tolerance and freedom of expression.
Among Sensex stocks, L&T was the top loser, shedding 2.19 per cent, followed by ONGC, Titan, Sun Pharma, Hero MotoCorp and Infosys.
A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven oil prices to their highest level in nearly four months. The attack has knocked out over half of Saudi Arabia's production as it cut 5.7 million barrels per day or over 5 per cent of the world's supply.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
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.
India's crude oil imports are coming in from a changing mix of countries, with the top three accounting for around 60 per cent of total imports. Russia emerged as the largest source of crude oil imports for India in June, as per the latest available data from the Organization of the Petroleum Exporting Countries (OPEC). The data which is released with a lag, showed that Russian imports accounted for 24 per cent of the total crude imports into the country.
Israel's ministry of defence and the Israel defence forces on Sunday said they are planning to evacuate another 14 communities close to the Lebanese border, The Times of Israel reported.
On Tuesday night, Iran launched over a dozen ballistic missiles targeting at least two bases where US military and coalition forces' are stationed in Iraq to 'avenge the killing' of General Qasem Soleimani.
Any miscalculation and miscommunication are fraught with the risk of a major catastrophe, warns Rup Narayan Das.
No inflationary pressure in near future: Jalan
Soleimani, 62, was killed in a US airstrike carried out near the Baghdad international airport on Friday.
Biden, in his call with Netanyahu, updated him on US military support and reiterated his warning against anyone seeking to expand the conflict, according to a readout of the call.
The rupee on Monday plunged to a two-week low of 66.61 by falling 47 paise against the US dollar on heavy demand for the American currency from importers.
As the majority of Pakistani airspace has remained closed for Indian airlines since the Balakot strike on February 26, the decision to avoid affected Iranian airspace on Saturday is going to further disturb the routes of their international flights towards middle-eastern and European countries, and the US.
President of Norweigan FA Ms. Klaveness, who is gay, gave a six-minute speech blasting FIFA and the Qatar FA for their human rights violations
The nomination of Esper, who is currently serving as the Secretary of the army and previously served as a vice president for government relations at the Raytheon Company, comes days after Patrick Shanahan withdrew his nomination from the top Pentagon position.
The direction comes hours after Iran fired over a dozen ballistic missiles targeting at least two American bases in response to the killing of its General Qasem Soleimani in a drone strike.
