News

Oil eases on stronger dollar, China demand concerns Oil prices eased on Monday after seven straight weeks of gains supported by tightening supply on OPEC+ output cuts, as concerns about China's faltering economic recovery and a stronger dollar weighed. Brent crude futures fell 29 cents, or 0.3%, to $86.52 a barrel by 0033 GMT while U.S. West Texas Intermediate crude was at $82.95 a barrel, down 24 cents, or 0.3%. Prices slipped as the U.S. dollar index extended gains on Monday after a slightly bigger increase in U.S. producer prices ...
Oil eases on stronger dollar, China demand concerns
Oil eases on stronger dollar, China demand concerns
Source: Reuters
14/08/2023 9:02:55 AM
Government simplifies norms for exporters to avail benefits of advance authorisation scheme In a positive move for exporters, the government has simplified norms for exporters to avail benefits of an advance authorisation scheme under which free imports of input materials are allowed. The Directorate General of Foreign Trade (DGFT) implements this scheme under the Foreign Trade Policy. The eligibility of inputs is determined by sector-specific norms committees based on input-output norms. To make the norms fixation process more efficient, the DGFT said that it has created a user-...
Government simplifies norms for exporters to avail benefits of advance authorisation scheme
Government simplifies norms for exporters to avail benefits of advance authorisation scheme
Source: Accord Fintech
18/07/2023 10:46:52 AM
Venus Remedies moves up on getting GMP certification from Ukraine Venus Remedies is currently trading at Rs. 230.05, up by 1.25 points or 0.55% from its previous closing of Rs. 228.80 on the BSE. The scrip opened at Rs. 231.40 and has touched a high and low of Rs. 233.10 and Rs. 225.75 respectively. So far 7613 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.55 on 31-May-2023 and a 52 week low of Rs. 145.00 on 08-Feb-2023. Last one week high and low of the scrip stood at ...
Venus Remedies moves up on getting GMP certification from Ukraine
Venus Remedies moves up on getting GMP certification from Ukraine
Source: Accord Fintech
7/06/2023 2:28:18 PM
India`s palm oil imports hit 27-month low, buyers pick cheaper soft oils - dealers  India's palm oil imports sank to a 27-month low in May as buyers cancelled expensive cargoes of the edible oil and replaced them with cheaper soyoil and sunflower oil, six dealers told Reuters on Tuesday. Palm oil imports by India fell to 441,000 tonnes last month, down 14% from 510,094 tonnes in April, according to average estimates from the dealers. May imports were the lowest since February 2021, the dealers added. The drop in purchases by the world's biggest importer o...
India`s palm oil imports hit 27-month low, buyers pick cheaper soft oils - dealers
India`s palm oil imports hit 27-month low, buyers pick cheaper soft oils - dealers
Source: Reuters
6/06/2023 10:24:23 AM
G7 agrees to short-term gas investments amidst Russia-Ukraine war The G7 leaders on Saturday agreed to stronger language on short-term gas investments in the context of Russia's ongoing war against Ukraine and the resulting energy crisis. "We stress the important role that increased deliveries of LNG can play, and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis," reads the text. The text makes clear these investments must ...
G7 agrees to short-term gas investments amidst Russia-Ukraine war
G7 agrees to short-term gas investments amidst Russia-Ukraine war
Source: IANS
21/05/2023 10:03:08 AM
Multiple factors gives nuke power major push in APAC region: Moody's A combination of factors like the move towards decarbonization, fuel diversification, geopolitical situations resulting in fossil fuel price hike and climate change affecting solar and wind power provide the base for expansion of nuclear power in the Asia Pacific region, said Moody's Investors Service. "Decarbonisation and fuel diversification will drive the nuclear power sector's share of the energy mix in Asia Pacific," said Ada Li, a Moody's Vice President, and Sen...
Multiple factors gives nuke power major push in APAC region: Moody's
Multiple factors gives nuke power major push in APAC region: Moody's
Source: IANS
11/05/2023 1:51:20 PM
`Grain corridor`: Ukraine`s export hits lowest level since Aug 2022 Ukraine's foodstuff export through the Black Sea ports last week hit its lowest level since August 2022 due to the disruptions of the work of the "grain corridor", data from an industry body showed. Between May 1 and May 7, Ukraine's ports shipped 404,000 tons of agricultural products, down 10 per cent from the previous week, the Ukrainian Agribusiness Club (UCAB) said in a report. In particular, Ukraine sent abroad 165,000 tons of wheat, 161,000 tons of corn, and 52,0...
`Grain corridor`: Ukraine`s export hits lowest level since Aug 2022
`Grain corridor`: Ukraine`s export hits lowest level since Aug 2022
Source: IANS
10/05/2023 9:43:14 AM
Freezing of Russian Central Bank assets a turning point for dollar`s dominance Following the invasion in Ukraine, many argued that the freezing of Russian Central Banks assets was a turning point for the dollars dominance, says Maria Demertzis, a senior fellow at Bruegel and part-time professor of economic policy at the School of Transnational Governance at the European University Institute in Florence. This changes the insurance value of holding reserves, as central banks around the world are now forced to prepare for the possibility of seeing their assets captured ...
Freezing of Russian Central Bank assets a turning point for dollar`s dominance
Freezing of Russian Central Bank assets a turning point for dollar`s dominance
Source: IANS
6/05/2023 12:46:25 PM
Ukraine, EU agree to extend preferential trade regime for one year Ukraine and the European Union (EU) have agreed to extend for one year their preferential trade regime, which is due to expire on June 5, Ukrainian Prime Minister Denys Shmyhal said. Ukraine and the EU reached agreements on extending the "economic visa-free regime" for another year. Ukrainian businesses will be able to continue selling their goods to the EU without any quotas, duties, or tariffs, Shmyhal wrote in a post on Telegram. The extension of the preferential trade rule...
Ukraine, EU agree to extend preferential trade regime for one year
Ukraine, EU agree to extend preferential trade regime for one year
Source: IANS
4/05/2023 9:13:44 AM
Ukraine implements 18% of NATO standards: Defence Minister Ukrainian Defence Minister Oleksii Reznikov has said that his country had implemented 18 per cent of the standards of the North Atlantic Treaty Organization (NATO). By the end of this year, Ukraine aims to perform between 30 per cent and 35 per cent of the alliance's standards, Reznikov was quoted by the Interfax-Ukraine news agency as saying, Xinhua news agency reported. Ukraine does not need to implement 100 per cent of the standards to become a member of the organization, he note...
Ukraine implements 18% of NATO standards: Defence Minister
Ukraine implements 18% of NATO standards: Defence Minister
Source: IANS
3/05/2023 9:48:01 AM
Ukraine approves strategy for energy development by 2050 The Ukrainian government has approved the country's new strategy for energy development by 2050, the Energy Ministry has said. The document reflects the objectives of the European Green Deal and envisages Ukraine achieving carbon neutrality in the energy sector by 2050, the Ministry said in a statement on Monday. Based on the principles of a comprehensive approach to the energy policy, the strategy is creating conditions for the sustainable development of the Ukrainian economy, Xinh...
Ukraine approves strategy for energy development by 2050
Ukraine approves strategy for energy development by 2050
Source: IANS
2/05/2023 9:56:23 AM
Indian business delegation to visit Russia to explore agri exports  An Indian business delegation will visit Russia on April 24-27, the Indian exporters' body said on Friday, a fresh sign of expanding bilateral trade ties as Moscow increasingly turns east in response to Western sanctions imposed over the Ukraine war. The announcement follows a visit by Russian trade and industry minister Denis Manturov to Delhi earlier this week which included discussions on the signing of a free trade agreement (FTA) in the near future. "The 50-member de...
Indian business delegation to visit Russia to explore agri exports
Indian business delegation to visit Russia to explore agri exports
Source: Reuters
22/04/2023 10:19:06 AM
Gold, silver rally to 10% gains this year  Safe haven assets, especially gold and silver have seen a fantastic rally since the start of this year, positing 10 per cent year to date (YTD) gains, Motilal Oswal Financial Services said in a report. It probably is the year of safe havens, as along with global growth slowdown, geo-political uncertainties, there are also expectations regarding slower interest rate hikes which really is a positive scenario for gold prices, the report said. Demand and supply factors historically ha...
Gold, silver rally to 10% gains this year
Gold, silver rally to 10% gains this year
Source: IANS
20/04/2023 2:11:37 PM
Investments, innovation, integration with value chains to help India`s apparel sector register healthy growth: APEC The Apparel Export Promotion Council (AEPC) has said that healthy investments, innovation and integration with value chains will help India's textiles and apparel sector to register healthy growth in manufacturing and exports. Secretary general of AEPC Mithileshwar Thakur said the focus should be on building scale, skill and technology besides diversification of products basket and strengthening of Brand India. He stated ‘My mantra for the exponential growth of the Indian Textile...
Investments, innovation, integration with value chains to help India`s apparel sector register healthy growth: APEC
Investments, innovation, integration with value chains to help India`s apparel sector register healthy growth: APEC
Source: Accord Fintech
19/04/2023 10:34:18 AM
India, Russia agree to work towards unlocking full potential of economic engagement India and Russia have agreed to work towards unlocking the full potential of their economic engagement including through addressing the trade deficit and market access issues. The two sides reviewed the entire gamut of economic ties at a meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). The bilateral trade between India and Russia witnessed a significant expansion due to New Delhi’s increasing...
India, Russia agree to work towards unlocking full potential of economic engagement
India, Russia agree to work towards unlocking full potential of economic engagement
Source: Accord Fintech
19/04/2023 9:39:39 AM
Russia, India negotiating on free trade agreement  Visiting Russian Minister of Trade and Industry, Denis Manturov, said on Monday that India and Russia are deliberating on a free trade agreement (FTA), a move which could enhance commercial relations between the two nations. The talks between the two countries on a possible FTA are likely to further accelerate economic relations between both the nations, despite Europe and America urging India to distance itself from Russia due to the latter's invasion of Ukraine in February last...
Russia, India negotiating on free trade agreement
Russia, India negotiating on free trade agreement
Source: IANS
18/04/2023 9:21:38 AM
Russia`s Gazprombank deepens ties with Indian banks for bilateral trade  Russia's Gazprombank has expanded its links with banks in India to expedite trade between the two countries in national currencies, a key executive told Reuters on Monday, as Russia this year has become the biggest supplier of oil to India. Trade between India and Russia has surged since the West imposed sanctions against Russia for its invasion last year of Ukraine, which has altered flows of oil and other goods. "We worked hard to establish our level of partnership with...
Russia`s Gazprombank deepens ties with Indian banks for bilateral trade
Russia`s Gazprombank deepens ties with Indian banks for bilateral trade
Source: Reuters
17/04/2023 2:00:58 PM
Ukraine to receive financial assistance from IMF Ukraine will receive a total of $4.5 billion from the International Monetary Fund (IMF) this year as Russia continues its full scale invasion of Kiev, the war-torn country's Finance Ministry said. Ukraine received the first tranche of $2.7 billion earlier this month, and expects to receive two additional tranches totaling $1.8 billion, Xinhua news agency quoted the Ministry as saying. After his meeting with IMF Managing Director Kristalina Georgieva at the Spring Meetings of the IMF...
Ukraine to receive financial assistance from IMF
Ukraine to receive financial assistance from IMF
Source: IANS
16/04/2023 9:56:12 AM
Recovery prospects for global economy fragile owing to Russia's 'unjustified' war, says ECB chief Lagarde European Central Bank (ECB) chief Christine Lagarde on Friday said that recovery prospects for global economy remain fragile amid continued uncertainty, fuelled by Russia's "unjustified: war against Ukraine, and the possibility that pressures in global energy and food markets may reappear, leading to renewed price spikes and higher inflation. In her statement at the 47th meeting of the International Monetary and Financial Committee (IMFC) in Washington, she said that resilient lab...
Recovery prospects for global economy fragile owing to Russia's 'unjustified' war, says ECB chief Lagarde
Recovery prospects for global economy fragile owing to Russia's 'unjustified' war, says ECB chief Lagarde
Source: IANS
15/04/2023 9:45:01 AM
G20 Finance Ministers agree to address debt stress, discuss Ukraine and crypto assets G20 Finance Ministers and Central Bank Governors (FMCBG) recognised the urgency to address debt vulnerabilities, including strengthening multilateral coordination toward addressing increasing debt distress in low-income and vulnerable middle-income countries, as well as challenges to the global economy, including Ukraine, during their two-day meeting, which concluded on Thursday in Washington. The members arrived at a consensus that global policy responses to crypto assets are required. ...
G20 Finance Ministers agree to address debt stress, discuss Ukraine and crypto assets
G20 Finance Ministers agree to address debt stress, discuss Ukraine and crypto assets
Source: IANS
14/04/2023 9:35:19 AM
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations G20 finance ministers and central bank governors (FMCBG) have agreed that the grouping can contribute to building a common understanding on fostering a conducive environment for global economic recovery, and ensuring that the most vulnerable countries and sections of the population are adequately protected. The resolution was taken in the context of the ongoing Russia-Ukraine war and devastation caused in the region due to it. During their second meeting, which concluded on Thursday in ...
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations
Source: IANS
14/04/2023 9:19:30 AM
IMF estimates Ukrain`s economy to contract by 3% this year The International Monetary Fund (IMF) projected that Ukraine's economy will fall by 3 per cent this year compared with a 30.3 per cent contraction in 2022. Inflation in Ukraine will slightly go up, with consumer prices rising to 21.1 per cent this year compared with 20.2 per cent in 2022, Ukrinform news agency reported on Tuesday, citing a newly released World Economic Outlook (WEO) report of the IMF. At the same time, the unemployment rate will shrink to 20.9 per cent in 2023 from ...
IMF estimates Ukrain`s economy to contract by 3% this year
IMF estimates Ukrain`s economy to contract by 3% this year
Source: IANS
12/04/2023 8:55:19 AM
Ukraine aims to set up major European gas storage hub Ukraine's Energy Minister Herman Galushchenko has said that his country has prospects to set up a major European gas storage hub on its territory. "One of our key goals is the creation of a large energy hub in Ukraine, in particular, for the storage of gas by European states," Galushchenko was quoted as saying by the Energy Ministry's press service, Xinhua news agency reported. Ukraine has one of the largest underground gas storage facilities in Europe, capable of stor...
Ukraine aims to set up major European gas storage hub
Ukraine aims to set up major European gas storage hub
Source: IANS
8/04/2023 10:20:08 AM
Russian rouble falls to its lowest value for a year  The Russian rouble has fallen to its lowest value for a year, since shortly after Russia invaded Ukraine, according to a media report. The currency slid to 82 roubles against the US dollar on the Moscow Stock Exchange (MOEX), BBC reported. Russia has been hit with massive economic sanctions since it began an offensive in Ukraine in February 2022. Earlier this year, Russia had said its economy shrank by 2.1 per cent, far less than the 15 per cent fall that had been predicted, BBC r...
Russian rouble falls to its lowest value for a year
Russian rouble falls to its lowest value for a year
Source: IANS
8/04/2023 9:32:16 AM
World Bank downgrades Ukraine's GDP growth forecast to 0.5% this year The World Bank has lowered its estimate for Ukraine's GDP growth this year to 0.5 from 3.3 per cent estimated in January, state media reported. The economic toll caused by the Russia-Ukraine war was the main factor behind the downgrade, the bank said in a report on Thursday. According to it, the reopening of Ukraine's Black Sea ports and resumption of grain trade, as well as substantial donor support, will help support economic activity in Ukraine this year, the Interfax-Ukraine...
World Bank downgrades Ukraine's GDP growth forecast to 0.5% this year
World Bank downgrades Ukraine's GDP growth forecast to 0.5% this year
Source: IANS
7/04/2023 10:12:04 AM
Oil prices surge after surprise cuts in production  Oil prices have surged after several of the world's largest oil exporters announced surprise cuts in production. The price of Brent crude oil was trading above $84 a barrel in Asia after jumping by more than $4, or 5 per cent, the BBC reported. The increase came after Saudi Arabia, Iraq and several Gulf states said on Sunday they were cutting output by more than one million barrels a day. Oil prices soared when Russia invaded Ukraine in February 2022, but are now back at le...
Oil prices surge after surprise cuts in production
Oil prices surge after surprise cuts in production
Source: IANS
3/04/2023 12:22:21 PM
Coal India surpasses annual output target for first time in 17 years Coal India Ltd said on Friday it had breached its annual production target of 700 million tonnes, the first time it had surpassed its goal since the fiscal year that ended in March 2006. The world's largest coal mining company will likely end the fiscal year ending on Friday with an output of 703.4 million tonnes, it said, 13% higher than the 622.6 million tonnes it produced the previous fiscal year. "The volume increase of a whopping 81 million tonnes in a single year, by fisc...
Coal India surpasses annual output target for first time in 17 years
Coal India surpasses annual output target for first time in 17 years
Source: Reuters
31/03/2023 3:04:30 PM
Ukraine targets 50% of power from renewables to boost energy security Ukraine aims to increase the share of renewable energy in its power generation to 50 per cent to boost energy security, the country's Energy Minister Herman Galushchenko has said. "We must strengthen the development of renewable energy sources and accelerate the energy transition. This is a matter of national security and the safety of electricity transmission," Galushchenko was quoted as saying by the Energy Ministry's press service, Xinhua news agency reported. Shift...
Ukraine targets 50% of power from renewables to boost energy security
Ukraine targets 50% of power from renewables to boost energy security
Source: IANS
30/03/2023 11:12:10 AM
Global financial stability at risk from banking turmoil: IMF chief  International Monetary Fund (IMF) chief Kristalina Georgieva has warned that the global economy faces risks to its financial stability because of the turbulence in the banking sector. Georgieva said rising interest rates had put pressure on debts, leading to "stresses" in leading economies, including among lenders, the Guardian reported. She said the world economy would expand by just 3 per cent in this year as rising borrowing costs, combined with the war in Ukraine and...
Global financial stability at risk from banking turmoil: IMF chief
Global financial stability at risk from banking turmoil: IMF chief
Source: IANS
27/03/2023 12:24:00 PM
UK-India trade has potential to double business by 2030: British Deputy High Commissioner In spite of the impact of Russia's war with Ukraine, British Deputy High Commissioner in charge of Kerala and Karnataka Chandru Iyer said the UK and India are heading towards an era of positive engagement in trade and business relations, with steps underway to promote mutual investments in both the nations. Iyer who is also UK's Deputy Trade Commissioner for South Asia said there was potential to double the business by 2030. Calling war a global phenomenon that affects all countries i...
UK-India trade has potential to double business by 2030: British Deputy High Commissioner
UK-India trade has potential to double business by 2030: British Deputy High Commissioner
Source: Accord Fintech
27/03/2023 9:45:21 AM
Spanish GDP grows by 5.5% in 2022 Spain's gross domestic product (GDP) grew by 5.5 per cent in 2022, surpassing an earlier expectation of 4.4 per cent by the government, according to official data. The data published on Friday by the Spanish Statistical Office (INE) also revealed that this figure has put to shame even more optimistic forecasts, such as the 4.7 per cent expected for 2022 by the Organization of Economic Cooperation and Development (OECD), and the 5.2 per cent forecast by the International Monetary Fund (...
Spanish GDP grows by 5.5% in 2022
Spanish GDP grows by 5.5% in 2022
Source: IANS
25/03/2023 12:30:32 PM
World Bank approves $7bn partnership deal to support Egypt The World Bank said it has agreed to provide Egypt a partnership agreement worth $7 billion to support the country's reforms and sustainable growth. The World Bank's board of executive directors approved Tuesday the Country Partnership Framework with Egypt for the financial years 2023-2027, the international lender said in a statement on Wednesday. The package will help Egypt create "more and better private sector jobs", build equitable health and education services, a...
World Bank approves $7bn partnership deal to support Egypt
World Bank approves $7bn partnership deal to support Egypt
Source: IANS
23/03/2023 12:39:23 PM
India plans to extend fuel export curbs beyond March India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries including those in Europe that have stopped purchases of refined products from Russia due to its invas...
India plans to extend fuel export curbs beyond March
India plans to extend fuel export curbs beyond March
Source: Reuters
20/03/2023 1:56:09 PM
Ukraine seeks to deepen integration into European energy market: Prime Minister Ukrainian Prime Minister Denys Shmyhal said his country is seeking to deepen integration into the European energy market amid Russia's ongoing war against Kiev. "We are committed to accelerating the integration of the EU and Ukrainian energy markets," Shmyhal said during the meeting with a delegation from the Energy Community Secretariat led by Director Artur Lorkowski. The Prime Minister said that joining the European network of electricity transmission system operators (...
Ukraine seeks to deepen integration into European energy market: Prime Minister
Ukraine seeks to deepen integration into European energy market: Prime Minister
Source: IANS
17/03/2023 1:29:52 PM
Ukraine, EU extend deal on road transport liberalisation till June 2024 Ukraine and the European Union (EU) have extended a deal on road transport liberalisation for one year till June 30, 2024, the Ukrainian government press service has reported. While commenting on the deal, Ukrainian Deputy Prime Minister Oleksandr Kubrakov said it has "proven its practical effectiveness" in the first months of being in place, Xinhua news agency reported. "During the period of its validity, the volume of bilateral and transit road freight traffic has incre...
Ukraine, EU extend deal on road transport liberalisation till June 2024
Ukraine, EU extend deal on road transport liberalisation till June 2024
Source: IANS
17/03/2023 11:36:20 AM
India`s imports from Russia jump to $41.56 billion during April-February period Commerce ministry in its latest data has showed that India's imports from Russia jumped about five times to $41.56 billion during the April-February period of this fiscal due to increasing volume of crude oil shipments from Russia to India. In 2021-22, Russia was India's 18th largest import partner, with imports totaling $9.86 billion. It stated that from just 0.2 per cent of all oil imported by India, Russia supplied 28 per cent of the total oil imported in January. Russia has bec...
India`s imports from Russia jump to $41.56 billion during April-February period
India`s imports from Russia jump to $41.56 billion during April-February period
Source: Accord Fintech
16/03/2023 12:26:17 PM
Ukraine`s GDP falls 29.2% in 2022 Ukraine's GDP shrank by 29.2 per cent in 2022, state media reported, citing an estimation by the country's Economy Ministry. The economic decrease reflected depressed household consumption, a decline in investment activity, and negative pressure on export and import operations caused by the Russia-Ukraine war, the government-run Ukrinform news agency reported on Tuesday. Ukraine's GDP performance last year was better than the initially estimated decline of 30.4 per cent due ...
Ukraine`s GDP falls 29.2% in 2022
Ukraine`s GDP falls 29.2% in 2022
Source: IANS
15/03/2023 9:56:42 AM
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary The Minister of State for Finance Pankaj Chaudhary has said that the government is taking steps to make India a $5 trillion economy at an early date. Earlier, the IMF's World Economic Outlook said the size of the Indian economy will increase from $3.2 trillion in 2021-22 to $3.5 trillion in 2022-23 and cross $5 trillion in 2026-27. Observing that the outbreak of the COVID pandemic in 2020 and the Russia-Ukraine conflict in 2022 has impacted the world output, increased inflation in several...
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary
Government taking steps to make India $5 trillion economy at an early date: Pankaj Chaudhary
Source: Accord Fintech
15/03/2023 9:44:12 AM
Finland`s PM clarifies comment on Hornet jet offer to Ukraine Finland's Prime Minister Sanna Marin said in a press statement that no one has promised Hornet fighters to Ukraine. "Finland has not made any policies on the matter, but I see that we have the ability and opportunities to have this discussion," Marin added on Monday. Finland purchased around 60 Hornet F/A-18 jets from the US in the mid-1990s. They will be replaced with US' F-35 jets beginning in 2025, Xinhua news agency reported. The debate about Marin's comment...
Finland`s PM clarifies comment on Hornet jet offer to Ukraine
Finland`s PM clarifies comment on Hornet jet offer to Ukraine
Source: IANS
14/03/2023 11:15:17 AM
Ukraine`s grain harvest forecast to drop by 37% this year Ukraine's grain production will drop by 37 per cent this year, state media reported, citing an official forecast. The National Academy of Agrarian Sciences projected that Ukrainian farmers will reap about 34 million ton of grain in 2023 compared with nearly 53.9 million ton last year -- a decrease mainly due to the reduction of planted areas and a lack of fertilisers, Interfax-Ukraine news agency reported on Thursday. Meanwhile, Ukraine's oilseeds harvest is forecast to increase...
Ukraine`s grain harvest forecast to drop by 37% this year
Ukraine`s grain harvest forecast to drop by 37% this year
Source: IANS
10/03/2023 12:09:00 PM
Guterres, Zelensky call for extension of Black Sea Grain Initiative Visiting UN Secretary-General Antonio Guterres and Ukrainian President Volodymyr Zelensky have called for the extension of the Black Sea Grain Initiative, which expires on March 18. This is the UN chief's third visit to Kiev since Russia launched its ongoing full-scale invasion of Ukraine on February 24, 2022. On July 22, 2022, Russia and Ukraine separately signed a document in Istanbul with Turkey and the UN to allow Ukraine and Russia to export grain and fertilizer to ensure suppl...
Guterres, Zelensky call for extension of Black Sea Grain Initiative
Guterres, Zelensky call for extension of Black Sea Grain Initiative
Source: IANS
9/03/2023 5:00:58 PM
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi Prime Minister Narendra Modi on Thursday said that the Ukraine crisis can be resolved through dialogue and diplomacy. In a joint statement after bilateral talks with his visiting Italian counterpart Giorgia Meloni, Modi said that "India has made it clear from the beginning that Ukraine dispute can be resolved through dialogue and diplomacy". On her part, Meloni expressed hope that India having the G20 Presidency can play a central role in facilitating a negotiating process for...
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi
Source: IANS
2/03/2023 6:03:41 PM
Government plans to amend Offshore Minerals Act to seek critical resources from ocean beds Aiming to seek critical minerals like nickel, lithium, and cobalt from ocean beds, the government plans to amend the Offshore Minerals Act, a move which would help reduce India's dependence on imports of these essential natural resources. Highly-placed sources said that amid disrupted supply chains owing to the year-long Russia-Ukraine war, the Centre plans to look for these minerals within the country, rather than depending on other countries for sourcing them, before they become di...
Government plans to amend Offshore Minerals Act to seek critical resources from ocean beds
Government plans to amend Offshore Minerals Act to seek critical resources from ocean beds
Source: IANS
28/02/2023 9:25:13 AM
Global economy changed by Ukraine war Russia's invasion of Ukraine sent shockwaves through the global economy and now, a year on from the start of the attack, the world is fundamentally changed, the media reported. Trends that were already in motion have accelerated, as the need to move away from fossil fuels to greener, renewable energy supplies became more urgent, The Guardian reported. Food prices have soared, increasing hunger in the developing world, and forcing governments, businesses and people to adapt to lastin...
Global economy changed by Ukraine war
Global economy changed by Ukraine war
Source: IANS
26/02/2023 12:36:12 PM
G20 Finance Ministers` meet ends without consensus on Ukraine conflict  The two-day G20 Finance Ministers and Central Bank Governors meeting ended on Saturday without a joint communique as differences prevailed among member nations over how to describe Russia's invasion of Ukraine. In place of a joint communique, a G20 Chair's Summary and Outcome Document was released after the meeting culminated on Saturday. The meeting began on February 24 in Bengaluru, coinciding with the first anniversary of the Russia-Ukraine conflict. Countries like t...
G20 Finance Ministers` meet ends without consensus on Ukraine conflict
G20 Finance Ministers` meet ends without consensus on Ukraine conflict
Source: IANS
26/02/2023 9:21:49 AM
Odisha's economy projected to grow by 7.8% during 2022-23  Odisha's economy is projected to grow by 7.8 per cent in real terms during the financial year 2022-23 against 7 per cent at the all-India level, as per the advance estimates. According to the Odisha economic survey report for FY 2022-23, it is one of the fastest growing states in the country. In 2021-22, the state's GSDP grew by 11.5 per cent while the country grew by 290 basis points lower than Odisha. Odisha's growth resilience is reflected in its average medium-t...
Odisha's economy projected to grow by 7.8% during 2022-23
Odisha's economy projected to grow by 7.8% during 2022-23
Source: IANS
24/02/2023 9:48:43 AM
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine U.S. Treasury Secretary Janet Yellen stepped up calls on Thursday for increased financing support to Ukraine to help it battle the year-old Russian invasion as the United States readies an additional $10 billion in economic assistance in coming weeks. Yellen, speaking at a news conference in India on the eve of the first anniversary of the Russian invasion, said it was critical for the International Monetary Fund to "move swiftly" towards a fully financed loan programme for Ukrai...
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine
As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine
Source: Reuters
23/02/2023 5:05:59 PM
India reaps pricing benefits of crude oil imports from Russia In the case of oil imports, India till now is on a firm path of sourcing the product cheaply from Russia since the latters invasion of Ukraine. This is much against the wishes of the western powers who want to bring down the Russian economy by curbing its oil revenue. However, the Indian government has categorically said that it would source what it needs from where the price is advantageous. The government also said its three oil marketing companies are not buying crude from Russia ...
India reaps pricing benefits of crude oil imports from Russia
India reaps pricing benefits of crude oil imports from Russia
Source: IANS
19/02/2023 10:12:55 AM