The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on Thursday. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have […]
Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers IOC, BPCL and HPCL, Fitch Ratings said on Tuesday. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) haven’t changed the retail selling price of petrol, diesel and cooking gas LPG in line with cost over the […]
Supply factors are likely to limit near-term growth opportunities for Indian renewable power generators stemming from the country’s current heat wave and high fossil-fuel prices, Fitch Ratings said adding that nonetheless, their medium-term prospects remain strong and are supported by government policies to diversify India’s energy base away from fossil fuels. Rising power demand as […]
India could be the next major market for electric vehicles, in large part thanks to commercial EV adoption. In fact, the subcontinent’s demand for EVs for commercial use alone is expected to increase a stunning 15-fold in the next six months alone. The sudden spike in uptake is being fuelled by the confluence of a number […]
Industrial production growth in India slowed to a seven-month low of 3.2 per cent in May 2018 mainly due sluggish performance of manufacturing and power sectors coupled with poor offtake of fast moving consumer goods. Retail inflation grew 5 per cent in June, a five-month high, from May’s 4.87 per cent on the back of […]
With oil turning costlier relentlessly – Brent crude went past $80 a barrel yesterday, up 3.3 per cent from a week ago and a three-and-half-year high – the cost of Indian basket went to a prohibitive $76 a barrel. Add to that rupee falling sharply against the dollar, and the government refusing point blank on […]
Petrol and diesel prices have jumped 8 per cent since daily price revision was implemented in mid–June, said ratings agency ICRA, warning that a sustained price hike can hit demand growth and create inflationary pressures. “The rise in fuel rates can be attributed to a 14 per cent increase in international petrol and diesel prices […]
China’s crude oil output fell 9.9 percent year on year in August, the biggest monthly drop since 2003 as refineries slashed production amid sluggish global oil prices, data from the National Bureau of Statistics showed. Imports, on the other hand, have trended upward after private refineries were given permission to import crude last year, Xinhua […]
China’s top pricing regulator said it will introduce a more flexible method for pricing domestic fuel, with adjustments allowed if the international oil price fluctuates between $40 and $140 per barrel, according to the China Daily newspaper. The pricing of liquefied petroleum gas will be solely market-based, according to a statement released by the National […]
