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India has stepped up supply of smaller 5-kg LPG cylinders and accelerated the rollout of piped natural gas (PNG) connections to manage fuel availability amid disruptions caused by the Middle East conflict, with domestic supplies remaining stable, according to an official statement.More than 13 lakh 5-kg free trade LPG cylinders have been sold since March…
Finance leaders from across the world will meet in Washington this week under the shadow of the Middle East conflict, with the International Monetary Fund (IMF) and the World Bank expected to lower growth forecasts and raise inflation projections as the war disrupts the global economy, according to Reuters report.The conflict marks the third major…
This partially redacted image from video provided by US Central Command shows a military vehicle in Iran shortly before it was struck by a missile fired by US forces on Sunday, March 1. (Image used only for representation) US President Donald Trump on Friday (US local time) praised software firm Palantir Technologies even as the…
India’s domestic LPG production now meets nearly 60% of the country’s requirement, offering relief as the Middle East war continues to ripple across global energy markets. With the Iran war crossing 40 days, authorities are working to keep fuel supplies steady. One of the measures taken by the Centre is switching from LPG to PNG,…
The commerce ministry on Thursday held consultations with exporters to address disruptions in shipping, port operations and packaging arising from the ongoing West Asia crisis, PTI reported.Commerce Secretary Rajesh Agrawal chaired two meetings attended by Shipping Secretary Vijay Kumar, export promotion councils (EPCs), commodity boards, shipping lines, ports and exporters.Officials said the discussions focused on…
IMF chief Kristalina Georgieva on Thursday urged central banks to prioritise tackling inflation even at the cost of growth, warning that the global fallout of the US-Israel war on Iran will inevitably bring economic “pain”, PTI reported.“A word of caution upfront: this being a classic negative supply shock, demand adjustment is unavoidable. We cannot go…
NEW DELHI: Union minister for petroleum and natural gas Hardeep Singh Puri will visit Qatar on April 9-10, amid ongoing tensions in the Middle East and concerns over global energy supplies, reported ANI.The visit comes after a two-week ceasefire was announced between the US and Iran. The region remains volatile due to the evolving situation…
RBI governor Sanjay Malhotra pointed out five ways in which the Indian economy will be impacted by the ongoing conflict. (AI image) The Monetary Policy Committee (MPC), led by Reserve Bank of India (RBI) governor Sanjay Malhotra kept the repo rate unchanged and continued with the neutral stance while flagging risks to GDP growth and…
Ceasefire in name only? Gulf States sound sirens (AP photo) Missile alert sirens sounded in many Middle Eastern countries early Wednesday, despite Iran and the United States saying they had reached a two-week ceasefire in the war. Despite diplomatic efforts, fighting appeared to continue across multiple fronts. In Abu Dhabi, a gas processing facility was…
The ongoing Middle East crisis is emerging as a significant external shock for India, with risks spreading across energy markets, trade flows and supply chains, according to a recent white paper by Dun & Bradstreet.The report shows that countries in the Gulf–Levant region account for nearly 15 per cent of India’s merchandise exports and about…
