While stocks in Mumbai & Seoul have already taken hits from concerns over Fed rate hikes and a related tech selloff, analysts see both as more susceptible to risk-off sentiment.
Govt reduced import duty on palm oil earlier this month to bring down retail prices. Some oil and farm associations say it contradicts govt’s vision of 'Atmanirbhar Bharat'.
Even at $70 a barrel, the current prices do not meet fiscal break-even thresholds for most Gulf Arab states, and the gap between revenue & fiscal expenditure has been wide since 2015.
Oil buyers will be 'spoiled for choice' as the supply of high-sulfur crude, which has tightened after US sanctions on Iran and Venezuela, will become more readily available now.
The expansion of OPEC into OPEC+ has added a new layer of complexity to the decision-making process while contributing little in the way of real output cuts.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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