Saturday, 21 May, 2022
TopicBloomberg wire

Topic: Bloomberg wire

Hong Kong’s hardline next leader John Lee shows flexibility behind scenes

Lee, a former cop and security minister, emerged as a leading advocate for cracking down on Hong Kong’s pro-democracy opposition over the past three years.

India’s dependence on coal is unaffordable

Federal minister in charge in 2017 complained that a third of India’s coal-based capacity depended on imports, while cheaper Indian coal isn’t of the quality plants are designed to handle.

Covid killed one out of every 500 people globally, WHO report shows

The WHO’s new estimate is more than twice the figures from individual governments’ reports showing about 6.2 million Covid deaths.

Modi govt plans to cut taxes on edible oils to cool surging prices

India, the world’s top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports.

Gautam Adani seeks to boost his media investments in ambitious expansion plan

Scaling up the media business will give Adani a meaningful presence in an industry where Mukesh Ambani has already made his mark through his Network18 Media & Investments Ltd.

Govt turns to expensive foreign LNG to ease power crisis

Torrent Power & GAIL India bought LNG for May delivery in the last week, with the fuel set to be used to help power plants boost generation.

India’s surprise rate hike spurs aggressive tightening bets

The Reserve Bank of India stunned markets Wednesday with a 40 basis point rate increase and a move to suck out billions from the banking system.

Oil advances ahead of OPEC+ meet after surging on EU’s Russian oil ban

The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine.

Tesla CEO Elon Musk and investor Cathie Wood say passive investing has gone too far

Their discussion was sparked by Marc Andreessen, who said firms like BlackRock Inc. have outsized voices in many corporations because of voting power of their stable of passive index trackers.

A 46 degrees Celsius heat wave is making India’s power crisis worse

Production of coal, the fossil fuel that accounts for more than 70% of India’s electricity generation, has failed to keep pace with unprecedented energy demand from the heat wave.

On Camera

YourTurn

Representative image of an ethanol-blended fuel station plug | Wikimedia Commons

Ethanol blended fuel to power vehicles. Will it hurt your car’s engine?

India’s reliance on ethanol blended fuel is only set to increase in the wake of rising crude oil prices. But are we going to adapt in time?
A shopkeeper arranges stock at a grocery store in Bengaluru | Representational image | Bloomberg Photo

Inflation raised monthly expenses of 92% Indian families in last 3 months, finds online survey

A LocalCircles poll found that 70% of respondents felt their monthly household budget increased by 10% while 55% expected expenses to go up by another 10% in the next 3 months.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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