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‘Steel prices will continue to move up as Ukraine-Russia conflict hits supply chain’
The price of steel will continue to move upwards on ”good demand” as the supply chain remains affected amid the Ukraine-Russia conflict, according to industry consultancy SteelMint. The prices in the international market have moved up by around USD 135 a tonne and are moving up since the conflict started in the last week of […]
Indian students stranded in Ukraine’s Sumy see ‘no ray of hope’
“It has been 10 days (since) we have been waiting here but there is no ray of hope (as to) when we will be evacuated,” says a distraught Indian medical student stranded in the embattled northeastern Ukrainian city of Sumy in a video message. There is no power, no water supply and shops are refusing […]
PM Narendra Modi to chair webinars on infrastructure, divestment
Prime Minister (PM) Narendra Modi will chair webinars on infrastructure (infra) and divestment-related Budget announcements on March 8 and March 9, respectively. The objectives of these meetings will be to brainstorm with experts from the public and private sectors, academia and industry, and identify strategies on how best to move forward towards implementation of various issues under […]
Indian rupee slumps 11 paise to 76.05 against US dollar in early trade
The rupee declined 11 paise to 76.05 against the US dollar in the opening trade on Friday, tracking the surge in international crude prices amid the intensifying Russia-Ukraine conflict. Unabated foreign fund outflows and a weak trend in domestic equities also weighed on investor sentiment, forex traders said. At the interbank foreign exchange, the rupee […]
India asks Indonesia to raise palm oil supply as prices spike: Report
India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several governments and industry sources in India told Reuters. India, the world’s biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports but […]
Oil spikes to seven-year high as markets avoid Russian supply
Oil prices surged to seven-year highs on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures gained $5.30, or 5%, to $110.23 a barrel at 0419 GMT, a level last seen […]
Power consumption grows 2.2% to 105.54 billion units in February
India’s power consumption growth remained subdued at 2.2 percent year-on-year in February to 105.54 billion units (BU), showing the impact of local restrictions imposed by the states due to the third wave of COVID-19. Power consumption in February 2021 was 103.25 BU, a tad lower than 103.81 BU in the same month of 2020, as per the power […]
Google temporarily disables Google Maps live traffic data in Ukraine
Alphabet Inc’s Google confirmed on Sunday it has temporarily disabled in Ukraine some Google Maps tools which provide live information about traffic conditions and how busy different places are. The company said it had taken the action for the safety of local communities in the country, after consulting with sources including regional authorities. Ukraine is […]