Day: August 9, 2020

Saudi Arabia Turns Off America’s Oil Taps Again

(Bloomberg Opinion) —  For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand.

Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period up to the previous Friday — is routinely pored over by oil analysts and traders alike. Despite their shortcomings, the figures give the most up-to-date picture of changes in the oil balance and influence trading decisions and crude prices around

PM Modi launches financing facility of Rs 1 lakh crore under Agriculture Infrastructure Fund

The fund will help catalyze the creation of post-harvest management infrastructure and community farming assets. (Reuters Image)

PM Modi on Sunday launched a financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund via video conferencing. The Prime Minister also released the sixth installment of funds of Rs 17,000 crore to 8.5 crore farmers under the PM-KISAN scheme. “This will help in creating better storage, modern cold storage chain in villages and many employment opportunities will be created in the village,” PM Modi said while launching the facility. “Along with this, I am very satisfied with the transfer

TikTok’s Indian alternative Chingari raises $1.3 million in seed funding from AngelList India, NowFloats’ Jasminder Singh, others

Chingari pays content creators a 30 per cent cut of revenue it earns from brands.

Banned Chinese short video app TikTok’s Indian alternative Chingari has raised $1.3 million in a seed round of funding from AngelList India, Utsav Somani’s iSeed, Village Global, LogX Ventures, and Reliance-owned SaaS startup NowFloats’ co-founder Jasminder Singh Gulati. Chingari has seen a steep rise in downloads ever since the government banned 59 Chinese apps on June 29. The app already has over 1 crore downloads on Google Play Store with a four-star rating. Within around 24 hours of the ban of TikTok and other apps,