India is doubling down on Russian crude oil purchases despite warnings from the US, snapping up every major grade from the OPEC+ producer as its war in Ukraine nears a third month.
V. Anantha Nageswaran says he is surprised by Fed's hawkishness in hiking rates. With US inflation hitting 4-decade high in February, Fed raised rates in March and plans more hikes.
Market has been driven by developments surrounding the war & concerns about lockdowns in China, with a liquidity crunch adding to oil’s volatility, leaving prices vulnerable to big swings.
No government-to-government deal has been worked out so far, top-level official sources said. Nearly 85 per cent of India’s crude oil requirement is imported.
Asia as a net importer is vulnerable to oil price spike due to Russia’s invasion of Ukraine. But with more than 40% global exports stemming from the region, rising prices will ripple globally.
Conflict has come as a dampener for those who were ready with packed bags after Covid restrictions eased; most are now looking for alternate modes of travel.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
COMMENTS