Global weather troubles influence agricultural prices, cloud outlook

Unpredictable weather is ruling agriculture markets, as supplies of major commodities are stretched thin allowing little room for output losses, while meteorological conditions in major producing countries look uncooperative. While ongoing weather troubles in the agriculturally prominent countries are influencing prices of wheat, corn, soybean, and vegetable oils, uncertain weather is likely to cast a […]

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Indian Oil hedges its bet on aluminum battery to take on lithium in Electric Vehicles

A drive to reduce dependence on imported materials and technology, especially from China, is pushing India to invest in a battery technology that uses aluminum rather than lithium as the key ingredient. Indian Oil Corp., the nation’s largest oil refiner, has teamed up with an Isareli startup Phinergy Ltd. to develop the aluminum-air battery. India […]

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Crude falls, but no respite for fuel prices in India; petrol price in Mumbai cross Rs 107 a litre mark

On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]

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India’s Reliance Industries to appoint Aramco chairman as director on its board

India’s Reliance Industries Ltd. will appoint Yasir Othman Al-Rumayyan, the chairman of Saudi Aramco, to its board in what could possibly be seen as a precursor to an investment deal between the two big energy companies. Al-Rumayyan, who is also the governor of the kingdom’s sovereign wealth fund, will join Reliance as an independent director, Chairman Mukesh Ambani, India’s […]

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Adani loses $13 billion in four days in worst wealth devastation last week

Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raised questions about some offshore investors. The news triggered a stockmarket rout in his conglomerate’s six listed stocks. The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about […]

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Faster world recovery boosting prices, but runaway inflation unlikely, says Fitch Ratings

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A faster-than-expected global economic recovery is boosting prices as supply chains have struggled to keep up with rapidly expanding consumer durables demand and world merchandise trade, Fitch Ratings said in its latest Global Economic Outlook (GEO). However, slower growth, supply adjustments in bottleneck sectors, a switch back towards services consumption, and fading impacts from US […]

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