Oil has slumped from above $115 in June 2014 as shale oil from the United States has flooded the market
Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Qatar is the world's richest country in terms of per capita income.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
Reliance has a 24 per cent conversion rate of 'oil-to-chemicals' at present and may be targeting 70 per cent conversion.
India will surpass China as the world's fastest growing economy in the next 2-3 years, says RIL chairman Mukesh Ambani.
On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards, shedding as much as 1.63 per cent.
Carriers' input costs are rising due to weak rupee and rising crude oil price.
World oil prices bounced back after Iraq said it could retaliate against crude producing neighbour Kuwait if the United States launches an attack from Kuwaiti territory.
'Going ahead, I think the world trade will slow down or decline, and this will be bad for everybody.'
The BSE 30-share Sensex has plummeted by 1,631.59 points or 6.24% to 24,485.95 so far this month
Noting that India continued to be the second fastest growing economy in the world after China, Finance Minister P Chidambaram on Saturday said people should not be worried about the current slow down and expressed hope of achieving six per cent growth this fiscal.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Jim Rogers, chairman of Rogers Holdings, tells Puneet Wadhwa that the US bond market that hit bottom in 1981 and has been in a bull-run since then, is coming to an end.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
According to data released by the commerce and industry ministry, exports stood at $25.01 billion in the month. The fall is only the second time exports contracted in the past year.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
A preliminary deal for sale of 49 per cent in Essar Oil to Rosneft was signed between the companies in July 2015.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
Oil prices fell from their two-year highs on Tuesday, as pressure mounted against an immediate attack on Iraq, lessening fears of a possible disruption of oil supplies from the world's eighth-largest exporter.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
While RBI may cut rates by 25 basis points in the February policy review, global monetary policies hold the key to much of the financial assets flow in 2017
Consolidated revenue rose to a record Rs 163,854 crore.
During a meeting with Putin in Samarkand, Modi had told the Russian leader that "today's era is not of war".
Beijing did not announce expected policy support over the weekend
While not all the oil bought overseas turns up in domestic refineries, it can give companies a stake in the global crude trade.
Aramco Trading Co, a subsidiary of state oil giant Saudi Aramco, offered 2.8 million barrels of ultra low sulphur diesel for loading in late July to early August
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Blinken will also attend a meeting of the foreign ministers of the Quad grouping and will hold bilateral talks with his Indian counterpart S Jaishankar in Delhi.
The Pandays aka The Travelling Family are making a trip around the world. Three days spent in the Amazon were unforgettable.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
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 award has earlier been bestowed on several world leaders, including Russian President Vladimir Putin, Britain's Queen Elizabeth II and Chinese President Xi Jinping.
Asserting that India has full potential to emerge as a global hub for electric vehicles by 2025, Union Minister Nitin Gadkari on Friday asked automobile manufacturers to reduce cost and forego profit initially to capture market and fuel growth. Once the market picks up there will not be any looking back, Road Transport and Highways and MSMEs Minister Gadkari said, promising all support to manufacturers in the initiative aimed at cutting India's huge import costs of crude and arresting pollution. The minister said he is scheduled to make an hour-long presentation on EVs before the Chief Justice of India post-Diwali.
Equity benchmarks climbed in early trade on Wednesday amid an overall positive trend in the global markets and ahead of the presentation of Union Budget 2023-24. The 30-share BSE benchmark Sensex jumped 516.97 points to 60,066.87. The broader NSE Nifty climbed 153.15 points to 17,815.30.
From the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the major winners. Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.
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