Washington, April 15 (IANS) War in the Middle East is threatening to slow global growth and push up prices, IMF officials warned, as supply disruptions spread across energy markets and trade flows.The International Monetary Fund said the conflict has created “exceptional uncertainty” in the global outlook, forcing a reassessment of forecasts. Deputy Managing Director Bo Li said all scenarios now point to “higher price and lower growth and slower growth.”The impact is already visible acro…
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Seoul, April 3 (IANS) South Korean President Lee Jae Myung said Friday he and French President Emmanuel Macron agreed to work together to secure the safe passage through the Strait of Hormuz and mitigate the broad impact from the war in the Middle East. Lee addressed concerns over uncertainties in global energy supply chains following summit talks with Macron, during which the two leaders discussed ways to deepen economic ties and strengthen coordination on security issues.”President Macron and …
Seoul, April 3 (IANS) South Korean President Lee Jae Myung said on Friday that he and French President Emmanuel Macron agreed to work together to secure the safe passage through the Strait of Hormuz and mitigate the broad impact from the war in the Middle East.Lee addressed concerns over uncertainties in global energy supply chains following summit talks with Macron, during which the two leaders discussed ways to deepen economic ties and strengthen coordination on security issues.”President Macr…
New Delhi, March 19 (IANS) India is set to significantly expand its power generation capacity over the next decade, with a strong push towards clean energy, according to a new government projection on Thursday.The Central Electricity Authority (CEA) has estimated that the country’s installed power capacity will more than double from the current 520 gigawatt (GW) to 1,121 GW by 2035-36.A major share of this growth will come from non-fossil fuel sources, which are expected to contribute around 7…
Strasbourg, March 11 (IANS) European Commission President Ursula von der Leyen said on Wednesday the Middle East conflict has imposed heavy economic costs on Europe, driving up energy prices and adding billions of euros to import bills. “Since the beginning of the conflict, gas prices have risen by 50 per cent and oil prices by 27 per cent,” von der Leyen told the European Parliament in Strasbourg. She said 10 days of war had already cost European taxpayers an extra 3 billion euros (3.48 billion…
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman rolled out a range of customs duty cuts across sectors such as marine products, textiles, leather, and defence and aviation sectors to boost manufacturing and increase exports in the Union Budget 2026-27 presented in the Lok Sabha on Sunday.As part of sector-specific measures to promote exports of marine products, the Finance Minister proposed to raise the limit for duty-free imports of specified inputs used for processing seafood for e…
Washington, Jan 30 (IANS) President Donald Trump and Energy Secretary Chris Wright said coal, natural gas, and nuclear power protected the US electricity grid during a severe cold snap, while criticising wind and solar generation.Wright told a Cabinet meeting, “Your energy dominance agenda is firing on all cylinders.” He said, “The United States oil production today is greater than Saudi Arabia and Russia combined.”Wright said coal played a critical role during peak demand. “This beaut…
Seoul, Jan 25 (IANS) Foreign ownership of South Korean stocks as a share of total market capitalisation reached its highest level in five years and nine months in January, driven by net purchases in the shipbuilding, defence and nuclear power industries, the main bourse operator said on Sunday.Foreigners’ stock holdings rose to 37.18 per cent of total market capitalisation on January 7, the highest level since April 9, 2020, when the rate was at 37.34 percent, according to data from the Korea Ex…
Davos, Jan 21 (IANS) IBM Chairman and CEO Arvind Krishna has urged Indian entrepreneurs to build local capabilities across semiconductors, model development and real‑world applications to build stronger “AI sovereignty” in India.Speaking at the World Economic Forum (WEF) annual meeting in Davos, Krishna said smaller, specialised AI models are rapidly closing the gap with large foundational models and now account for nearly 95 per cent of consumption.“The underlying ecosystem whether it’s…
New Delhi, Jan 15 (IANS) Coal-fired power generation decline in both China and India in 2025 for the first time since the 1970s, as the two countries switched to non-fossil energy sources such as solar, wind and hydel to meet the rising electricity demand, according to a report compiled at the Centre for Research on Energy and Clean Air (CREA). Electricity generated by coal plants fell by 1.6 per cent in China and by 3 per cent in India last year, marking “a historic moment” since the early …