Crude affair: Why the world is still hooked on oil despite better optionsBusiness News Today: Stock Markets, Financial News, India Business & World Business News
A global promise to shift from fossil fuels faces significant hurdles. Economic ties to oil and powerful industry lobbying impede progress. Political will is also a key factor. Despite these challenges, renewable energy sources are expanding rapidly worldwide, offering a glimpse of future change.
Kuwait revenues slip, Iraq exports hit, Saudi gains windfall: How Hormuz blockade is reshaping Gulf oil fortunesBusiness News Today: Stock Markets, Financial News, India Business & World Business News
The Middle East conflict’s sixth week sees global energy markets reeling. Soaring crude prices offer windfalls to some Gulf producers like Iran and Saudi Arabia, despite export drops. Others, heavily reliant on the Strait, face severe revenue plunges. The disruption, following airstrikes on Iran, has led to significant oil supply shocks worldwide.
RBL Bank profit jumps over two times to Rs 230 crore on improved performance
RBL Bank’s profit jumped to a higher Rs 230 crore for the quarter. It was up from the same period in last year, while the total earnings have been on a rise for the last three quarters too. Over the last three quarters, we have seen the bank focusing on improving its asset quality as…
Middle East turmoil tests economies: India’s growth stays firm at 6.8%; oil shocks threaten US outlookBusiness News Today: Stock Markets, Financial News, India Business & World Business News
India’s economy shows resilience amidst global turmoil. SBI Research projects strong GDP growth between 6.8% and 7.1% for FY27. The nation navigates oil shocks from a position of strength. Domestic fundamentals provide a buffer. Potential risks like Super El Nino are noted. Inflation is expected at 4.5% with fiscal deficit around 4.5-4.6%.
‘India solidly through global shocks’: EAM Jaishankar calls for ‘hedge, de-risk, diversify’ strategy amid Iran warBusiness News Today: Stock Markets, Financial News, India Business & World Business News
External Affairs Minister S Jaishankar emphasized strengthening national capabilities amidst global volatility. He highlighted India’s foreign policy focus on market access and resource security, noting geopolitical shifts and disruptions like the pandemic and conflicts. Jaishankar stressed building internal strengths as crucial for de-risking and enhancing leverage, underpinning India’s quest for a ‘Viksit Bharat’.
India’s LPG consumption drops 13% in March amid Middle East supply disruptionsBusiness News Today: Stock Markets, Financial News, India Business & World Business News
India’s cooking gas use plunged 13% in March, hit by Middle East conflict-induced supply snags. While household needs were prioritized, commercial LPG consumption saw a drastic drop. Domestic production was boosted to compensate for import disruptions, though overall fiscal year LPG demand still grew. Jet fuel demand remained flat, but petrol and diesel consumption showed…
India a ‘tough nut to crack’: US Trade Representative makes big statement as 3-day trade deal talks concludeBusiness News Today: Stock Markets, Financial News, India Business & World Business News
Under the proposed interim trade deal, the US has lowered tariffs on India from 50% to 18%. In August last year, Trump had imposed a 25% reciprocal tariff on India and an additional 25% penal tariff for India’s crude oil purchases from Russia.
Russian crude with Indian touch: What is Bangladesh’s new crude sourcing strategy?Business News Today: Stock Markets, Financial News, India Business & World Business News
Bangladesh is exploring a proposal to refine Russian crude oil in India before importing the finished fuel, aiming to ease supply pressures from the West Asia conflict. The Energy and Mineral Resources Division has requested approval to discuss a government-to-government agreement with India, as its local refinery cannot process Russian crude.