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What do the new agreements between UAE and India entail? How will India’s energy security plans get a boost? (AI image) India’s energy security received a major boost on Friday when two important Memorandum of Understanding (MOUs) were signed during PM Narendra Modi’s visit to the UAE on Friday. India imports close to 90% of…
India’s foreign exchange reserves jumped by $6.295 billion to $696.988 billion during the week ended May 8, helped largely by a sharp rise in gold reserves, PTI reported citing Reserve Bank data released on Friday.The overall forex kitty had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s reserves had touched an…
In a boost to India’s energy security, several MoUs have been signed during PM Narendra Modi’s UAE visit on Friday. PM Modi’s visit to the UAE amid the ongoing US-Iran conflict and global crude oil price shock holds particular significance.According to an ANI report, several key agreements and investment commitments were announced during the trip….
India’s reserves have fallen 5.2% to $691 billion. (AI image) Philippines and India are the Asian countries that have seen the highest percentage losses to their foreign exchange reserves as a result of the ongoing US-Iran conflict that has sent global crude oil prices to above $100 per barrel levels. Foreign-exchange reserves across Asia are…
NEW DELHI: Two important MoUs in the areas of LPG and Strategic Petroleum Reserves are likely to be concluded during PM Narendra Modi’s stopover in the UAE on Friday on his way to Europe, official sources have said. Govt said that energy security will be a key focus area of Modi’s three-hour stopover in the…
Since the outbreak of the Iran conflict, India’s forex reserves have declined by nearly $38 billion, marking the steepest drop among regional economies. India has among the world’s largest foreign exchange reserves, and they are still robust enough to defend the rupee from its free fall during the ongoing depreciation phase due to the Middle…
As rupee continues to breach multiple record lows, pressure on India’s balance of payments is growing. To protect foreign exchange reserves and help stabilise trade balance, Prime Minister Narendra Modi has urged people to cut down on gold purchases.But if not buying new gold, could household gold be turned into working capital instead?PM Modi’s call…
India’s forex reserves rise to $658.09 billion India’s foreign exchange reserves declined by $7.794 billion to $690.693 billion during the week ended May 1, according to data released by the Reserve Bank of India (RBI) on Friday.The reserves had fallen by $4.82 billion in the previous reporting week ended April 24, taking the overall forex…
Pakistan has admitted its vulnerability to the ongoing global oil shock saying the country lacks “strategic oil reserves like India” that have helped New Delhi cushion the impact of soaring crude prices triggered by tensions in the Middle East. The remark comes as oil prices surged to $126 per barrel, the highest since 2022, amid…
The United States of America, which is the largest producer of oil, holds the second largest strategic oil reserves, followed by Japan. (AI image) Did you know that China holds the largest strategic oil reserves in the world? Amid ongoing disruptions due to the US-Iran war and blockade of the Strait of Hormuz, this fact…
