Early Friday trade saw oil prices rise, but they were poised for their first weekly losses in three weeks as concerns about inflation and China’s COVID lockdowns slowed the global economy, outweighing concerns over declining Russian fuel supplies. At 0008 GMT, Brent crude prices were up 97 cents, or 0.9 percent, at $108.42 a barrel,
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Officials claimed that consumers will be offered both online and offline choices to opt-in or out of the Delhi government’s power subsidy on monthly consumption of up to 400 units of electricity. Delhi Chief Minister Arvind Kejriwal declared this week that if consumers desire it, they will receive a power subsidy. The government decided to
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According to four trade sources, India exported a record 1.4 million tonnes of wheat in April, bringing some relief to grain markets as buyers hunt for alternatives to the Black Sea supply hit hard by the Ukraine conflict. The first month of the fiscal year is April. In fiscal 2021-22, India, the world’s second-largest wheat
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A coal shortage in India has caused sponge iron makers to scour the globe for supplies to keep their mills going, adding to inflationary pressures as they rely on more expensive imports. According to Managing Director V.R. Sharma, Jindal Steel & Power Ltd., which is running its sponge iron facilities at 40% capacity due to
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The total number of COVID-19 vaccine doses delivered in the country surpassed 190.33 crores on Sunday, according to the Union Health Ministry. Until 7 p.m. on Sunday, more than 11 lakh (11,93,312) vaccination doses had been administered. With the compilation of the final reports for the day by late night, the daily vaccination tally is
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According to persons acquainted with the situation, India is considering reducing tariffs on various edible oils to chill the home market after the war in Ukraine and Indonesia’s restriction on palm oil exports caused prices to rise. India, the world’s largest importer of vegetable oils, is trying to reduce the agriculture infrastructure and development cess
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