Moscow, July 2 (IANS) The Russian economy has completed 80 per cent of its adaptation to external shocks, Russian Deputy Prime Minister Alexander Novak has said. “When we talk about adaptation to external challenges, we arrive at that 80 per cent figure,” Novak said at the Bank of Russia Financial Congress.”When it comes to the progress we are making toward technological sovereignty and technological leadership, I believe we are only halfway there,” he said on Wednesday.The deputy PM highlighted…
Latest Oil Prices News & Updates
Washington, June 25 (IANS) The International Monetary Fund (IMF) on Thursday said the ceasefire in the Middle East and progress towards reopening the Strait of Hormuz have eased immediate risks to the global economy, although it cautioned that the full impact of the recent conflict has yet to play out.Speaking at a regular IMF press briefing, Julie Kozack, Director of the IMF’s Communications Department, said the war had once again tested the resilience of the global economy, but recent developm…
Washington, June 12 (IANS) US President Donald Trump predicted a sharp decline in global oil prices if a proposed agreement with Iran is finalised, arguing that greater stability in the Middle East and the reopening of key shipping routes would ease pressure on energy markets.Speaking at the White House, Trump said markets had already responded positively to news of the emerging agreement.“Stock markets up 1000 points,” Trump said. “That means they like the deal.”He said oil prices had a…
New Delhi, June 2 (IANS) The Reserve Bank of India is expected to keep policy rates unchanged in the upcoming Monetary Policy Committee meeting, although its communication may turn more hawkish as rising oil prices and a weaker rupee complicate the inflation outlook, according to an economist at HSBC.Pranjul Bhandari, HSBC’s chief India economist and macro strategist, projects a gradual tightening with about two rate hikes beginning in the fourth quarter of 2026 rather than an aggressive tight…
New Delhi, May 23 (IANS) Despite public assertions of a no-limits strategic partnership, Russia-China trade has shown signs of slowing after years of strong post-2022 expansion, even as political ties between Moscow and Beijing remain close, a report has said.A report by The Moscow Times highlighted that during Russian President Vladimir Putin’s recent visit to China, both sides emphasised deepening cooperation and robust economic engagement.However, trade figures indicate emerging constraints…
Chandigarh, May 20 (IANS) Following Prime Minister Narendra Modi’s appeal to save fuel and adopt sustainable travel habits, Punjab Governor Gulab Chand Kataria on Wednesday travelled in an electric bus to reach the venue of a public event. Speaking to IANS, the Punjab Governor, who is also the Administrator of Chandigarh, announced that a ‘No Vehicle Day’ will be followed by him as well as the staff of his office every Wednesday in order to set a precedent for the citizens to follow.”First, if a…
New Delhi, May 18 (IANS) India’s current account deficit (CAD) is likely to be about 2.1 per cent of GDP for FY27, assuming an oil average of $85 per barrel, a report said on Monday.The report from HDFC Bank said elevated crude and a closed Strait of Hormuz pose upside risks to forecast, adding that the recent gold import compression measures could provide some offset.The bank said that raising import duty to curb gold imports could trim the deficit, estimating a 20 per cent decline in gold vo…
New Delhi, May 18 (IANS) Bitcoin slid to its weakest level in May on Monday over escalating macroeconomic concerns tied to the US‑Iran conflict, causing overall crypto market weakness.The world’s largest cryptocurrency dropped to $76,711 before it recovered some losses to trade at $76,985.11 as of 2.25 pm. Major digital assets such as Ether and Solana also traded lower.Nearly $500 million of long positions were liquidated within about 15 minutes during early Asian trading hours, according to…
New Delhi, May 18 (IANS) Global crude oil prices extended gains on Monday as escalating tensions between the US and Iran fuelled concerns over supply disruptions after a nuclear facility in the United Arab Emirates was attacked.International oil benchmark Brent crude rose as much as 2.37 per cent or $2.60 to $111.86 per barrel.Meanwhile, US West Texas Intermediate (WTI) crude advanced 3.11 per cent, or $3.28, to $108.70 per barrel.In the domestic markets, crude oil futures (June 18) on Multi Com…
New Delhi, May 15 (IANS) The Indian rupee breached the 96-mark against the US dollar on Friday amid persistent global pressures, rising crude oil prices, and continued geopolitical tensions linked to the Iran conflict.Earlier in the day, the domestic currency opened at 95.86 in the interbank foreign exchange market and slipped to 95.94 during early trade, after touching an all-time low of 95.96 in the previous session.Pressure on the rupee also intensified after oil marketing companies (OMCs) in…