The oil market appears to be bracing for a weeks-long disruption to shipping in the southern Red Sea, where Houthi militants have for months been attacking merchant vessels in response to Israel‘s war in Gaza. Charters of tankers to haul crude and fuels – which for some vessels are arranged up to a month in … Read more
New Delhi: The Centre may revise the FY24 excise duty collection target downwards by ₹45,000 crore, factoring in some possible fiscal support if crude oil prices continue to remain elevated, people familiar with deliberations told ET. This revision is not likely to impact the overall revenue mopup as the other resources may make up for … Read more
Union Finance Minister Nirmala Sitharaman on Tuesday expressed concern over rising crude prices due to the Ukraine crisis and indicated that the central government is looking to tap alternative sources. At an interactive session organised by BJP‘s Karnataka unit, she was asked about the impact of rising crude prices and war in Ukraine on the … Read more
NEW DELHI: A surge in oil prices to $139 a barrel levels triggered a panic selling on Dalal Street on Monday as investors fear a surge in inflation, followed by a sharp reversal in the RBI policy stance. Here is how a rising oil price could hurt corporates, investors, households and government in the coming … Read more
NEW DELHI: The rupee weakened against the US dollar on Monday as talk of a faster pace of bond tapering by the Federal Reserve fuelled a global strengthening of the greenback, dealers said. The partially convertible rupee opened at 74.3450 to a dollar on Monday, 0.15 per cent weaker than 74.2350 at the previous close. … Read more