Oil Rises With U.S. Stockpiles Set to Drop, OPEC Meeting on Cuts

(Bloomberg) — Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.

Futures in New York fell below $40 a barrel. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs that have helped haul oil back from its plunge in April. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance

Posted on 2 days ago

Drop in China’s share in American imports didn’t help India, despite close diplomatic relation with US, says Rabobank

(Bloomberg) — Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.

Futures in New York fell below $40 a barrel. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs that have helped haul oil back from its plunge in April. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance

Posted on 2 days ago

RIL 43rd Annual General Meeting Live Updates, Mukesh Ambani Live

(Bloomberg) — Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.

Futures in New York fell below $40 a barrel. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs that have helped haul oil back from its plunge in April. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance

Posted on 2 days ago

Chongqing city district says it discussed projects with Tesla

(Bloomberg) — Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.

Futures in New York fell below $40 a barrel. The producer bloc will review the state of the market at an online meeting on Wednesday amid expectations it will soon begin unwinding the output curbs that have helped haul oil back from its plunge in April. Russia’s top oil companies are preparing to increase output next month in the absence of other guidance

Posted on 2 days ago

Eight shortlisted for RBI deputy governor post; interview on July 23

At present, the RBI has three deputy governors.

A search panel headed by the cabinet secretary is scheduled to interview eight shortlisted candidates on July 23 for the post of RBI deputy governor, sources said.

The post had fallen vacant after senior-most deputy governor N S Vishwanathan demitted office three months ahead of his extended tenure on March 31 on health grounds after serving the monetary authority for 39 years.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) has a list of eight names who would be interviewed via video conference on July 23, the sources said.

The selected name

Restaurants open but grapple with decreased sales, few dine-in customers

The 10 PM deadline will further hurt business.

Restaurants across Delhi may have reopened their doors a month ago after being allowed to resume their business post the COVID-19 lockdown, but are still grappling with decreased sales, staff shortages and few dine-in customers. Due to the COVID-19 restrictions, many restaurants have not commenced dine-in facilities and are relying on takeaways to drive their business.

According to Rohit Aggarwal, director, Lite Bite Foods, post ‘Unlock’, the situation has not been “very motivating, walk-in numbers are extremely low and the operational cost is soaring”.

“The highest number of dine-in guests we have

Australia Warns of Vaccine Wait; Tokyo Cases Surge: Virus Update

(Bloomberg) —

A coronavirus vaccine may be two years away, if one is ever found, and low levels of infection may become a part of life, Australia’s deputy chief medical officer warned.

New infections in Tokyo exceeded 200 for a third day, though fell short of Friday’s record, Kyodo reported. Masked fans returned to baseball in Japan, making the country among the first to restart major sport with spectators. Germany’s infection rate stayed below a key level that’s crucial to preventing a second wave.

In the U.S., Texas hospitalizations topped 10,000 for the first time and California suffered its second-highest

Donald Trump rules out phase second phase trade deal with China

”The relationship with China has been severely damaged. I don’t think about it now,” Trump told reporters on Friday from Air Force One when asked about the trade deal. (Reuters photo)

US President Donald Trump has for the time being ruled out a second phase trade deal with China, saying the relationship between the two countries has been severely damaged with Beijing’s handling of the coronavirus outbreak.

”The relationship with China has been severely damaged. I don’t think about it now,” Trump told reporters on Friday from Air Force One when asked about the trade deal. Earlier in the year,

RBI Governor Shaktikanta Das decodes why banks are rushing to raise capital; warns NPAs set to rise

Shaktikanta Das said that the RBI worte to banks and other financial institutions in March this year asking them to have plans in place to ensure continuity of business and have mechanisms in place to deal with emerging challenges.

Decoding why a large number of lenders have been rushing to raise capital, Reserve bank of India (RBI) Governor Shaktikanta Das, today said that the central bank asked lenders to chalk out plans and keep adequate capital ready to deal with any shocks that come up owing to the coronavirus pandemic. Shaktikanta Das said that the RBI wrote to banks and

China State Funds Start Selling in Warning Sign for Stock Rally

(Bloomberg) — China acted to cool the speculative frenzy in its $9.5 trillion stock market, snapping a euphoric eight-day surge that had fueled worries of a new equity bubble in the making.

Signs of Beijing’s unease over the rally’s speed emerged late Thursday, when a pair of government-owned funds announced plans to trim holdings of stocks that soared this week. On Friday the state-run China Economic Times warned about the dangers of a “crazy” bull market, while Caixin reported that regulators had asked mutual fund companies to cap the size of new products.

Traders said the moves amounted to a

PM Modi’s 2018 Singapore visit enhanced India’s presence in ASEAN: Indian diplomat

”The India-Singapore strategic partnership made progress across several areas, thanks entirely to the vision and leadership of Prime Minister Lee Hsien Loong and Prime Minister Modi and is driven by all the ministers on both sides”. File photo: IE)

Prime Minister Narendra Modi’s three-day visit to Singapore in 2018 went a long way in enhancing India’s presence in the ASEAN region, outgoing Indian High Commissioner to Singapore Jawed Ashraf has said. The 56-year-old career diplomat who served in Singapore for 43 months will leave on Sunday for his next posting to France.

“PM Modi’s visits to Singapore went a

TikTok removed 1.65 crore made in India videos from platform before ban; here’s why

TikTok has said in its Transparency report that it received 500 requests in the latter half of the last year.

TikTok has released its Transparency Report 2020 and there are some stark revelations. The report suggests an unprecedented number of requests from the government and security authorities across the world and in India. According to the report, the ByteDance-owned social media entertainment app removed 1.65 crore videos in India in the last one year. The Chinese behemoth that now has been banned in India for security concerns has said that a majority of the videos were taken down from the

‘No Way I Can Lose’: Inside China’s Stock-Market Frenzy

(Bloomberg) — Like millions of amateur investors across China, Min Hang has become infatuated with the country’s surging stock market.

“There’s no way I can lose,” said the 36-year-old, who works at a technology startup and opened her first trading account in Beijing on Tuesday. “Right now, I’m feeling invincible.”

Five years after China’s last big equity boom ended in tears, signs of euphoria among the nation’s investing masses are popping up everywhere. Turnover has soared, margin debt has risen at the fastest pace since 2015 and online trading platforms have struggled to keep up. Over the past eight days

PM Modi LIVE: 3-day India global week event kicks off; economic revival post coronavirus in focus

Prime Minister Narendra Modi address HIGHLIGHTS. (File image)

Prime Minister Narendra Modi LIVE: In his inaugural address at the India Global Week 2020, PM Narendra Modi said that the government is equally focused about the health of economy and health of people even as coronavirus pandemic continues to take toll. Recounting the steps taken by the government so far to revive Indian economy, PM said that there are opportunities in India’s sunrise industries and we are opening our doors to global investors. “India awaits you all,” he said, adding that the country remains one of the most open economies in