Chinese stock markets suffered their biggest single-day drop since the global financial crisis.
While India should be concerned about disparities, the fact is that whereas three decades ago about half the people had incomes greater than $2.15 a day, today seven out of eight do, notes T N Ninan.
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.
Billionaire Gautam Adani on Tuesday did an hour-long session of yoga exercises in the open air as he led corporate India to join the International Day of Yoga celebrations. Several public and private sector companies held yoga sessions at their offices to promote the adoption of exercise in daily routines to stay fit and healthy. Adani, chairman of logistics-to-energy conglomerate Adani Group, and his wife Priti, who heads the Adani Foundation, "participated with more than 1,000 members of the Adani Parivaar team to celebrate health, mindfulness and meditation," the group said in a statement. The session was held at a football ground at Adani Shantigram in Ahmedabad. Several other business leaders tweeted pictures of their yoga sessions.
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.
Six non-BJP ruled states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT on petroleum products, leading to higher prices of petrol and diesel there, Petroleum Minister Hardeep Singh Puri said on Thursday. Puri said in Lok Sabha that the central government has reduced excise duty on petroleum products and some other states, following cues, reduced their Value Added Tax (VAT). Six states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT, he said amidst vocal protests by the opposition members.
'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.'
Addressing a huge gathering in Lahore, Imran played a video clip of India's Foreign Minister S Jaishankar from Bratislava Forum held in Slovakia and praised the Indian minister for standing firm to the United States pressure over buying cheap oil from Russia.
It also receives large investments from the Europe.
The benchmark Indian crude oil basket is now estimated to average $77.88 a barrel for FY19, compared to the government's earlier estimate of $65 a barrel for the year and $56.39 for FY18
In a presentation to investors in Mumbai last week, Aramane Giridhar, Joint Secretary (Exploration) gave detailed reasons for pendency of decisions in the Ministry of Petroleum and Natural Gas where officials approved of decisions but refused to issue formal orders, resulting in delays in production of oil and gas.
'I remember that when I was about seven years old, a doctor saw me and told my family that I would only survive for six months and that the disease had no cure. But my mother never gave up. She would always say, 'My son is born to become a renowned wrestler'.'
'...the Congress tally in 2028 would further plummet under 50.' 'A fresh face as CM would further strengthen the BJP and weaken the Congress in Madhya Pradesh.'
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
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The government on Tuesday raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel but retail pump rates will not be increased as oil firms decided to absorb the duty change for the time being.
There is the problem of regions in the North East being theatre for power-play by nations with borders and influences converging in those parts, which in turn requires a sizable presence of the armed forces, notes Shyam G Menon.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Oil accounts for about a third of India's total imports and higher dollar prices combined with a rupee near all-time lows have increased its cost.
India is working on new technologies such as the small modular reactors that can be factory-built and help make clean energy transition, Science and Technology Minister Jitendra Singh said in New Delhi.
'The BJP is doing politics 24x365, but the Congress revs up only during elections.'
The Union Cabinet on Thursday approved a revision in the formula for pricing of natural gas and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of imported crude oil instead of benchmarking it to gas prices in four surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil).
He dropped those perceived to be non-performers or whose integrity came into question, and also where it was felt they needed to learn a lesson or two in humility.
Of the 3,893,149 registered applicants on the MP Rojgar portal, only 21 individuals have been successfully placed in government and semi-government positions since April 2020.
Murali Deora, Minister of Petroleum & Natural Gas has urged the need for sustainable international oil prices stating that the high oil prices are neither in the interest of oil importing countries nor beneficial to the exporting nations.
Prime Minister Modi arrived in Riyadh late Monday night on a two-day visit to Saudi Arabia to participate in the high-profile financial summit Future Investment Initiative, dubbed "Davos in the desert", an initiative of Saudi Crown Prince Mohammed bin Salman.
'To summarise, PM Modi's failures in the last nine years can be categorised under 'durniti' (bad policies), 'anyay' (injustice) and - perhaps most importantly - 'badniyat' (ill intention)'
China is also providing supertankers and insurance coverage to move Russian Urals crude to PRC ports, as Moscow seeks vessels for exports after a G-7 oil price cap restricted the use of Western cargo services and insurance.
The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in upcoming assembly elections in states like Madhya Pradesh.
He may have spent his entire adult life in diplomacy, but doctorate in nuclear physics Subrahmanyam Jaishankar's face betrays both fusion and fission of his moods.
Undoing Mani Shankar Aiyar's move to exercise greater control on public sector oil firms, the petroleum ministry has restricted the number of government directors on boards of public sector oil companies to just two.
'When you take up a religion or religious issue in an election, it creates a different type of environment and it is not a good thing'
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
India has acquired a Russian oil company and bought equity stake in an oil field project in Venezuela through consortium route, the Rajya Sabha was informed on Tuesday.
Iraq has urged the international community to help prevent ISIS from gleaning profits from oil smuggling
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.
The new Ministers of State sworn in by President Ram Nath Kovind at a ceremony in the Rashtrapati Bhavan include Virendra Kumar, Anant Kumar Hegde and Gajendra Singh Shekhawat, former IAS officers Alphons Kannanthanam and R K Singh, former diplomat Hardeep Puri and ex-Mumbai police chief Satyapal Singh. Two other new faces are Ashwini Kumar Choubey, a member of the Lok Sabha from Bihar, and Shiv Pratap Shukla from Uttar Pradesh.
The current oil prices at nearly $83 a barrel, which are slightly above the $70-80 band, are ideal for producers and consumers and are at sustainable levels, Saudi Arabia Minister of Petroleum and Mineral Resources Ali Al-Naimi has said in a news report.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
'Reliance on crude oil is still very high. Globally, natural gas is 25 per cent of the energy basket. In India, it has fallen to 6.5 per cent, from 11 per cent in 2014.'
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