SINGAPORE — Oil prices edged up on Wednesday ahead of data on U.S. oil inventories, with crude futures supported by tight supplies and recovering fuel demand as China’s top cities relax COVID-19 curbs. Read More
Adding a new twist to its ongoing spat with Future Group, e-commerce major Amazon has warned its promoters against sale of the company’s supply chain and logistics businesses to Reliance Industries (RIL) in a fresh transaction. In a letter addressed to Kishore Biyani and other family members who are classified as promoters, Amazon has said […]
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Chinese carmaker Geely already rivals Elon Musk’s Tesla in the EV space, now they’re taking on his SpaceX business in the satellite race. Nine satellites belonging to Geely subsidiary Geespace were launched last week. Geespace CEO Tony Wang spoke exclusively to Bloomberg News’ John Liu about how his satellites can contribute to the development of […]
SINGAPORE — Chicago corn gained more ground on Wednesday with strong demand and higher prices in the physical market lifting futures for a third consecutive session. Read More
TOKYO — Japan’s economy shrank slightly less than initially reported in the first quarter, as private consumption remained resilient in the face of resurgent COVID-19 infections, offsetting a drop in capital spending. Read More
The Union ministry has paved the way for small consumers to get access to green power by reducing the limit of open access transaction by 10 times to 100 kilowatt (kw) and curbing the surcharges to be built into tariffs. The ministry notified the Green Power Open Access Rules, 2022, on Tuesday. The new norms […]
India shipped out as much as 11.3 lakh tonnes of wheat in May, of which 4-5 lakh tonnes were despatched after a ban on the grain’s exports was imposed on May 13, sources told FE. The total shipment of the grain in May was close to 3 times of the level a year before. Indonesia […]
The World Bank on Tuesday scaled down its FY23 growth forecast for India to 7.5% from 8% predicted in April, citing the damaging impact of rising inflation, supply-chain disruptions and the Russia-Ukraine conflict. These headwinds would offset “buoyancy in the recovery of services consumption from the pandemic”, it said. With this, the multilateral body has […]