Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic…
India will supply 5,000 tons of diesel to Bangladesh via pipeline starting Tuesday through the Parbatipur border, confirmed Muhammad Rezanur Rahman, chairman of Bangladesh Petroleum Corporation (BPC). “Under our agreement with India, the country is to deliver 180,000 tons of diesel annually through the pipeline. The 5,000 tons arriving now is part of this arrangement,”…
The Reserve Bank of India has capped the maximum dividend payout by banks at 75% of profit after tax (PAT), with the new prudential norms set to take effect from the financial year 2026-27.The central bank on Tuesday issued the Reserve Bank of India (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittances…
Iran has reportedly continued exporting oil through its Kharg Island despite the ongoing war with the United States and Israel, while Washington considers seizing the strategic facility.According to TankerTrackers.com, cited by Bloomberg, oil shipments have continued from the island, which remains a key export hub for Iran. Axios reported on March 7 that the US…
Union Cabinet has approved changes to the foreign direct investment (FDI) policy governing investments from countries sharing land borders with India, including China, by amending Press Note 3 of 2020. Govt introduced a 60-day decision timeline for proposals in certain manufacturing sectors and clarifying rules around beneficial ownership.The decision, seeks to streamline investment approvals under…
IDFC First Bank on Tuesday said it has settled fraud claims at a Chandigarh branch at Rs 645 crore and has found no further discrepancies. Private sector IDFC First Bank had last month disclosed a Rs 590 crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set…
Airlines across Asia are increasing ticket prices and preparing contingency plans, including the possibility of grounding aircraft, as the escalating Middle East conflict threatens to trigger the biggest oil shock since the 1970s.Indian carriers have already raised fares on long-haul routes by about 15 per cent and are considering further hikes as jet fuel prices…
The government has revised the priority order for allocating domestically produced natural gas, placing LPG production, CNG for transport and piped cooking gas for households at the top of the list, as disruptions in imported gas supplies intensify amid the widening West Asia conflict, PTI reported.According to a gazette notification, the requirements of these sectors…
The ongoing crisis in the Middle East has brought the Strait of Hormuz to the brink of closure, disrupting global oil supplies and forcing Gulf nations like UAE, Iraq and others, to slash production. With storage tanks filling rapidly, analysts warn of the growing risk of a total production shutdown if output is not carefully…
The Union cabinet on Monday approved the extension of the Jal Jeevan Mission (JJM) until December 2028, with a revised total outlay of Rs 8.69 lakh crore, as the government seeks to shift the rural drinking water programme from infrastructure creation to a service delivery–driven model under JJM 2.0.Under the revised framework, the Centre’s financial…
