Seoul, April 5 (IANS) Finance Minister Koo Yun-cheol urged Gulf Cooperation Council (GCC) countries to strengthen cooperation to help stabilise energy and raw material supply chains amid prolonged tensions in the Middle East, the finance ministry said on Sunday.Koo, who also serves as deputy prime minister, met with ambassadors from the six GCC countries in Seoul on Friday at the residence of the United Arab Emirates (UAE) ambassador to discuss economic cooperation, according to the Ministry of …
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New Delhi, April 3 (IANS) Sentiment towards India’s IT services sector has turned more bearish amid rising global uncertainties, although investors remain hesitant to take strong directional bets, a report said on Friday.BNP Paribas India said in its report that while uncertainty has increased, investors — particularly hedge funds — are avoiding clear market calls and are instead reducing exposure by trimming factor-based positions.The report noted that recent volatility, including rapid rev…
New Delhi, April 3 (IANS) The cost pressures facing Indian auto companies are being systematically underestimated by the market, even as investor sentiment on India has taken a distinctly more cautious turn, according to a report released on Friday.A BNP Paribas analysis found investors reluctant to take a clear directional position on the market. Hedge funds were largely removing tilts and factor exposures from their portfolios, with several actively reducing gross exposure.The rapid reversal o…
New Delhi, April 2 (IANS) More than 55,000 PNG connections have been gasified across 110 geographical areas in the last five days, the government said on Thursday, adding that over 4.3 lakh 5 kg FTL cylinders have been sold since March 23.An additional 10 per cent allocation of commercial LPG has been offered to states/UTs, linked to the transition from LPG to PNG, with further allocations being recommended for reform-oriented states.”At present, eight states/UTs are being provided with this add…
New Delhi, April 2 (IANS) The Ministry of External Affairs (MEA) said on Thursday said that six Indian ships carrying products like LPG, LNG, have safely crossed the Strait of Hormuz so far as New Delhi remains in touch with Iran and other countries for safe transit of Indian ships amid the ongoing conflict in the region. Addressing a weekly media briefing in New Delhi, MEA spokesperson Randhir Jaiswal also confirmed India’s participation in a meeting on Strait of Hormuz being hosted by the UK l…
New Delhi, April 1 (IANS) Prime Minister Narendra Modi, on Wednesday, chaired a special meeting of the Cabinet Committee on Security (CCS) at his residence to review the impact of the on-going West Asia conflict and assess measures to protect India’s economy, energy security, and citizens from its ripple effects. This was the second such high-level review meeting since the conflict erupted on February 28, 2026.The meeting focused on ensuring uninterrupted supply of essential commodities and miti…
New Delhi, April 1 (IANS) Prime Minister Narendra Modi on Wednesday chaired a special meeting of the Cabinet Committee on Security (CCS) to review measures taken by various Ministries/Departments and also discussed further initiatives to be taken in the context of the ongoing West Asia conflict.Prime Minister directed all concerned departments to take all possible measures to ameliorate the problems of citizens and sectors affected by the ongoing global situation.PM Modi assessed the availabilit…
New Delhi, March 30 (IANS) The government on Monday said that there is an adequate stock of fertilisers at about 180 lakh metric tonnes (LMT), compared with 147 LMT a year ago, despite the escalating West Asia crisis and supply issues.Additional Secretary, Department of Fertilisers, Aparna Sharma, however, said that domestic urea output has taken a hit.”As of today, we have an adequate stock position. Urea and Diammonium phosphate (DAP) are made available to farmers at regulated prices,” she sai…
New Delhi, March 29 (IANS) The government on Sunday eased the petroleum safety and licensing rules to allow faster distribution of kerosene to households, amid the disruption in cooking fuel supplies due to the Iran war.The Ministry of Petroleum and Natural Gas said in a notification that the measures would enable the ad-hoc distribution of kerosene to households for cooking and lighting in 21 states and Union TerritoriesSelect petrol pumps operated by public sector oil marketing companies such …
New Delhi, March 28 (IANS) Chief Economic Advisor V. Anantha Nageswaran on Saturday said that given the considerable impact of the West Asia conflict on India’s economy, the country should leverage the fallout to redouble its recent reform efforts to enhance India’s competitiveness and preparedness. The ‘entrepreneurial mindset’ in bureaucracy, accompanied by enhanced speed of decision-making, is precisely what is called for if India is to emerge from this episode stronger, more resil…