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US President Donald Trump on Tuesday claimed that China is “purposefully” not buying the soybeans from their farmers, and this is the reason they are considering terminating the business with Beijing.Calling China’s deliberate work an “economically hostile act,” Trump said that they can make the cooking oil themselves and don’t need China for that. In…
India, the world’s largest importer of cooking oil, needs a predictable and transparent multi-year tariff framework for edible oils to end a decade of policy volatility that has distorted prices and discouraged investment, a new study has found.The research titled “Tariff Volatility and Stakeholder Dynamics in India’s Edible Oil Sector” — jointly conducted by the…
US agencies have imposed sanctions against eight Indian nationals and 10 companies for links with Iranian oil trade. As part of the latest round of global sanctions, the US state department’s actions were against 40 individuals, entities and vessels, while the US treasury acted against 60 entities. On the US treasury’s office of foreign assets…
The rupee strengthened by 7 paise to close at 88.72 against the US dollar on Friday, buoyed by positive domestic market trends and a broad decline in crude oil prices, PTI reported. Forex traders said the central bank’s intervention also provided support, although a firm US dollar capped sharper gains.The rupee opened at 88.80 and…
US stocks drifted close to record levels on Friday, while oil prices fell sharply following a ceasefire in Gaza, easing concerns over Middle East supply disruptions.The S&P 500 inched up 0.2%, coming off just its second loss in the past ten sessions, while the Dow Jones Industrial Average gained 215 points, or 0.5%. The Nasdaq…
Nayara Energy’s refinery has intensified its railway usage, dispatching two to three trains daily. (AI image) Nayara Energy, the Indian refinery with major Russian ownership, is scrambling to sustain operations after being hit by European Union sanctions. The Russian-owned refinery, facing exclusion from many international markets due to severe EU sanctions implemented on July 18,…
The United States on Thursday imposed a new round of sanctions accusing individuals and entities of helping Iran export oil and liquefied petroleum gas (LPG). A release by the US department of the treasury’s office of foreign assets control (OFAC) announced sanctions on over 50 individuals, companies and vessels for their alleged roles.According to an…
MUMBAI: Speaking to the media on Thursday after his meeting with PM Modi in Mumbai, UK PM Keir Starmer confirmed that the issue of India’s purchase of Russian oil amid the Russia-Ukraine conflict was discussed between them. The UK leads the coalition of the willing which has pledged support for Ukraine.When asked a direct question…
In August, the Donald Trump administration announced 50% tariffs on US imports of Indian products. (AI image) India is set to ramp up imports of Russian crude in the coming months at a time when the US has imposed 25% additional tariffs on it for Russian oil trade. Indian refiners plan to increase Russian oil…
Britain’s Prime Minister Keir Starmer, centre right, at Chhatrapati Shivaji Maharaj International Airport in Mumbai (Picture credit: PTI) LONDON: UK Prime Minister Keir Starmer insisted he will not relax visa rules to offer more to Indians just before his flight touched down in Mumbai on Tuesday night in his first major trade mission to India.Accompanied…
