Daily Masala

Here is what others are saying this morning:

U.S. crude oil prices drop over 2 percent as market loses faith in rebound

U.S. crude oil prices were down more than 2 percent in early trading as traders increasingly lose faith in a significant market recovery soon and bet on even lower prices.

Asia shares fall sharply amid China confusion

Asian share markets swept lower after Wall Street suffered its worst starting week in history and doubts over Beijing’s economic competence sent investors into the arms of the safe-haven yen and sovereign bonds.

Indian Oil to spend $600 million on Paradip refinery upgrade

Indian Oil Corp aims to invest 40 billion rupees ($600 million) in upgrading its newest refinery in the eastern part of the country after the central government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission standards to April 2020, a senior company executive said.

London Hedge Fund Omni Sees 15% Yuan Drop, and More in a Crisis

Omni Partners, the $965 million London hedge fund whose wagers against China helped it beat the industry last year, said the yuan may fall 15 percent in 2016, and even more if the nation has a credit crisis.

India mulls duty on oil import, tweak of cess

The Centre is toying with the idea of imposing import duty on crude oil while simultaneously tweaking the cess on domestically produced oil.

Global coffee retailers rely on PE funds to brew success

International coffee chains, turning profitable after restructuring their business models, are relying on PE funds to sustain their retail operations in India.

Gold demand to fall 15% as rural buying slumps over poor kharif season

The demand for gold will be less this wedding season – by 10 per cent-15 per cent – beginning January 15 in rural India as farmers have been affected by a poor kharif crop due to inadequate rains.

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