NEW DELHI: Public sector oil companies increased petrol and diesel prices by nearly 90 paise per litre on Saturday, the third hike since May 15, as they sought to partly offset mounting losses from selling fuels below market rates amid a sharp rise in global crude prices due to supply concerns.But that still leaves them…
NEW DELHI: State-owned Oil India Limited (OIL) has successfully unlocked a new gas-bearing pay zone in Rajasthan’s Dandewala field, with a flow of nearly 25,000 standard cubic metres per day, petroleum and natural gas minister Hardeep Singh Puri said on Saturday.Congratulating OIL on its technological excellence, Puri said on social media that the discovery by…
NEW DELHI: Govt on Saturday said that it has opened a four-month window for states to apply for setting up the first 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (Bhavya) scheme.Over six years, starting from the current fiscal, the scheme provides for the setting up of 100 plug-and-play industrial parks…
As the Middle East conflict continues to strain global energy supplies, the government is pushing for faster expansion of piped natural gas (PNG) connections across the country. But the plan is facing a major hurdle. A shortage of certified gas plumbers has slowed the rollout, with city gas distribution (CGD) companies currently adding only 8,000-10,000…
What happens in the Strait of Hormuz does not stay in the Strait of Hormuz. The US-Iran war may be centred in the Middle East, but its economic tremors are now rattling wallets across America. As tensions escalated and the crucial oil route came under pressure, fuel prices began their wild ride, pushing inflation higher,…
US Secretary of State Marco Rubio emphasised Washington’s intent to prevent geopolitical disruptions from distorting global energy markets, as tensions linked to the Iran conflict continue to affect oil supply routes and pricing dynamics.During discussions on energy security, Rubio’s office, quoted by Reuters, stressed that the US sees energy exports as a key instrument in…
IT stocks crash (AI image) Globally technology sector stocks are leading stock market rallies. In India, the picture is the opposite. The Nifty IT index has dropped around 23% since the start of the year, sharply underperforming the broader market decline of around 10%. In fact, IT has been the worst-performing major sector in the…
The Iran war is affecting money flows from overseas Indians, with NRIs withdrawing nearly $2 billion more than they deposited in Indian bank accounts in March, according to Reserve Bank of India (RBI) data. The total value of NRI deposits with Indian banks fell to $165.65 billion at the end of March from $167.58 billion…
MUMBAI: Total outward remittances under the Liberalised Remittance Scheme (LRS) witnessed a contraction in FY26, dropping about 2% to $29 billion from the $29.6 billion recorded in FY25. This downward trajectory highlights that visa restrictions are impacting overseas education spending, which plummeted 20.9% from $2.9 billion to $2.3 billion, alongside a 3.1% dip in international…
NEW DELHI: Honda Cars India is preparing an aggressive product expansion in the country, with plans to introduce more than 10 new models by 2030 as the Japanese automaker revs up to take on competition in one of its most important global growth markets.The company on Friday unveiled the updated hybrid version of the City…