The Cabinet has approved a 2 per cent increase in Dearness Allowance (DA) for Central government employees, as per sources.The Cabinet also approved Soverign Maritime Fund with corpus of Rs 13,000 crore, for stable and affordable insurance cover for Indian-flagged, India bound and India-originating vessels(This is a breaking copy) Source link
Iran is planning to tighten its grip over the Strait of Hormuz with new transit fees to regulate ship movement through the route. However, the country has ruled out charging any “traditional fees” on ships passing through it.Ebrahim Rezaei, spokesman for Iran’s National Security Committee told Al Jazeera that a law is being drafted to…
The United States decided to extend the sanctions waiver on Russian oil, offering temporary relief to countries purchasing crude from Moscow as the world grapples with tight energy supplies. The US treasury department on Friday issued a fresh licence allowing the purchase of Russian oil and petroleum products that had already been loaded onto ships…
Wall Street benchmarks closed at record highs on Friday, as easing geopolitical tensions in West Asia fuelled a broad risk rally across global markets, sending equities higher and oil lower.The S&P 500 and Nasdaq Composite notched their third straight record closes, while the Dow Jones Industrial Average posted its strongest finish since late February. Gains…
The US administration has decided to extend a narrow window for global buyers to purchase Russian oil shipments already at sea, despite earlier indications that such relief would not continue.Late Friday, the US Treasury Department published a new licence granting a roughly month-long waiver, which allows nations to buy Russian oil and petroleum products loaded…
New Delhi: Aiming to eliminate bulk transportation of liquefied petroleum gas (LPG) through roads by 2030, the Petroleum and Natural Gas Regulatory Board (PNGRB) has initiated the bidding process for new pipeline infrastructure connecting refineries, import terminals and bottling plants.The regulator Friday said that the proposed pipelines are designed to connect key supply sources, including…
NEW DELHI: Indian oil companies, fertiliser importers and exporters are cheering the opening of the Strait of Hormuz for global commercial vessels.There are 41 India-bound ships, both Indian and foreign-flagged, loaded with cargo, including crude, LPG, LNG and fertiliser, that are waiting to cross the narrow channel, where Iran has blocked normal movement since Feb…
MUMBAI: The opening of the Strait of Hormuz, one of the most important shipping channels in the world for the flow of crude oil and natural gas, led to a global rally in stocks on Friday evening. This also overshadowed the muted trading witnessed during the early part of the day in all of Asia…
MUMBAI: UltraTech Cement will cross 200 million tonnes of capacity after commissioning three grinding units totalling 8.7 million tonnes on Friday, cementing the Aditya Birla Group company’s position as the world’s largest cement producer outside China, with capacity nearly double that of the United States and exceeding the whole of the European Union. The milestone…
New Delhi: Using the one-month window provided by a temporary US sanctions waiver, Indian refiners purchased Iranian oil and settled payments in Chinese yuan, people aware of the development said on Friday. Iran insists on payment in Chinese yuan for oil to bypass US-led financial sanctions that restrict its access to the dollar-dominated global banking…
