OPEC was in continuous talks with the World Energy Forum and the International Energy Agency to ensure market stability.
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 ban on onion export is temporary and will be reviewed every two weeks until its prices decline below Rs 15 per kg.
'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.'
India has given a four-month ultimatum to Iran to offer a discovered oil field if it wanted to export 5 million tonnes of liquefied natural gas to New Delhi.
The global economy weakened in the second quarter of 2011, as growth moderated in both advanced and emerging market economies under the impact of high oil and other commodity prices.
Proving naysayers wrong, India's exports started the new financial year with an impressive 23.06 per cent year-on-year growth to touch USD 10.57 billion in April.
The attack did not result in any human losses, it said, adding that the remnants of the intercepted and destroyed ballistic missiles fell in separate areas around Abu Dhabi.
The amendments to the six-and-half-decade law provides that stock holding limit on commodities will only be imposed under exceptional circumstances like national calamities, famine with a surge in prices, the minister said.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
Benchmark indices settled lower on Friday, with the Sensex declining 111 points on the back of a sharp fall in index heavyweight Reliance Industries. The BSE benchmark went lower by 111.01 points or 0.21 per cent to settle at 52,907.93. During the day, it tanked 924.69 points or 1.74 per cent to 52,094.25. The NSE Nifty dipped 28.20 points or 0.18 per cent to close at 15,752.05.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
An analysis of year-wise movements of average global crude oil prices versus India's GDP reveals no inverse correlation, contrary to wide belief.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
An Arab official said the Saudi government had put the kingdom -- the world's largest oil exporter -- on a state of alert and cancelled all military leaves as a precaution.
The Saudi and Iraq offer to replace Iranian crude supplies comes with a catch: Higher prices for the same quality of crude. The new government will face a tough decision over fuel price hike, says Aveek Sen.
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
For the April-February period, exports were up 4.79 per cent to $282.7 billion, according to data released by the Ministry of Commerce and Industry on Tuesday.
Corporate India's net profit as a percentage of gross domestic product (GDP) dipped in the 2022-23 financial year (FY23) -- after rebounding sharply in FY22 -- amid a decline in global commodity prices. Top 500 companies' combined net profit stood at 4.1 per cent of the GDP for FY23, down from 4.3 per cent in the previous financial year when it had gone up from just 3.5 per cent in FY21. "The year-on-year (YoY) decline was led by global commodities, which contributed adversely to the ratio, while the financial sector contributed positively.
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank's comfort zone of 6 per cent, said an article in the RBI's monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in the preceding month, mainly due to soaring prices of tomato, vegetables and other food items. In his address to the nation on the Independence Day, Prime Minister Narendra Modi vowed to take more steps to contain price rise.
These so-called 'negative crack spreads' have huge implications for India, which imports crude oil and exports petroleum products. Brent crude oil, the international oil benchmark, was trading at $62 a barrel on Thursday.
India's exports increased by 26.9 per cent in August, while the import bill soared by 51.2 per cent leaving a trade deficit of $13.94 billion for the month.
India, China, US and Japan have topped the list of exporting counties to the UAE in March 2010 with a total export value of 24.6 billion dirhams - 60 per cent of the total value of the country's imports.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
The Russia-Ukraine crisis, along with general bullishness in agricultural commodities, has ensured that after a fairly long time, most of the 24 commodities for which the Centre declares the minimum support price (MSP) are trading above it. The exceptions here are chana or gram and a few varieties of pulses. This might gladden the farmers, especially those who are still holding on to their stocks from the previous kharif harvest or are harvesting the latest rabi crop. But this could stoke retail and wholesale inflation.
India is seeking over 3 million tonnes of crude oil from Iraq this fiscal even as it hopes that the interim US-led regime in Baghdad honours award of an oil exploration block to state-run ONGC Videsh Ltd by the previous Saddam Hussein regime.\n\n\n\n
The organisation of oil producing and exporting countries on Monday ruled out any increase in oil output to cool the high international oil prices.
Keeps open the option to make payments in yen or yuan in the face of sanctions
Mangalore Refinery and Petrochemicals Ltd, a subsidiary of Oil and Natural Gas Corporation, is considering plans to increase sales of aviation turbine fuel in the domestic market and cut down on exports gradually.
Amid the ongoing festival season and ahead of the elections for five state assemblies, the Centre is closely monitoring inflation, particularly in food items, to enable it to take steps to increase their supplies. "There is a complete no-nonsense attitude when it comes to food inflation, and instructions have been issued at all levels to be very sensitive to any possible price movements in any commodity," a senior official explained. Sources have said that all departments dealing with food items have been instructed to keep a close eye on all commodities and maintain a weekly record of their price movements.
Industry experts, analysts say the proposal is 'impractical'. The country's oil refining companies are hopeful that the Organisation of Petroleum Exporting Countries will implement a price band for crude oil which they say will bring more certainty to their operations.
India's exports growth virtually doubled to 23.42 per cent in the first nine months of 2004-05 as against 12.72 per cent in the same period in 2003-04.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances