Our Businessdesk India’s economic growth story over the past decade has quietly achieved an important structural milestone — the country is becoming significantly less oil-intensive. That means the economy today requires far less petroleum consumption to generate the same level of GDP compared to a decade ago. Oil intensity refers to the amount of oil…
New Delhi: Markets regulator Sebi on Wednesday proposed allowing mutual funds to use intraday borrowing lines for a wider range of cash management needs, including trade settlements, forex obligations and derivative margin payments, beyond just meeting redemption payouts. The proposal seeks to address operational challenges faced by asset management companies (AMCs) due to timing mismatches…
Lucknow: Prateek Yadav, the younger son of Samajwadi Party founder Mulayam Singh Yadav and a stepbrother of Akhilesh Yadav, died here on Wednesday, sources said. Prateek, 38, suddenly fell ill and was rushed to the civil hospital in the early hours of the day, but was declared dead at the hospital, the sources said. Although…
Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday directed an immediate 50 per cent reduction in the fleet of vehicles accompanying the chief minister and ministers, and urged people to cut fuel consumption and avoid unnecessary gold purchases in view of the prevailing global situation. Chairing a meeting of the chief secretary, DGP, additional…
Pakistan is once again attempting its favourite geopolitical performance – presenting itself as an indispensable mediator in conflicts where almost every participant privately distrusts it. Reports and diplomatic chatter suggest Islamabad has been trying to position itself as a channel between the United States and Iran at a time when tensions in West Asia remain…
New Delhi: India’s crude oil purchases from Russia dropped over 15 per cent in April after the country’s buyer shut the refinery for routine maintenance, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report. India imported Euro 4.5 billion worth of crude oil (raw material for making fuels like…
Chennai: Fissures in the opposition AIADMK deepened on Tuesday with a group of MLAs led by senior leaders SP Velumani and C Ve Shanmugam accusing party chief Edappadi K Palaniswami of seeking an alliance with archrival DMK to keep TVK away from power, and announced support for the C Joseph Vijay-led dispensation ahead of its…
Guwahati: Widely credited with the BJP’s rise across the northeast, Himanta Biswa Sarma’s swearing-in as the chief minister of Assam for a second consecutive term indicates not only continuity in leadership but also the party’s growing political entrenchment in the region. Despite strong criticism by the Congress and a series of allegations against his wife,…
Mumbai: Stock markets tumbled in early trade on Monday amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the West Asia war. US President Donald Trump has dismissed Iran’s response to the latest US peace proposal as ‘totally unacceptable’, dampening hopes of an immediate diplomatic breakthrough, an…
Raipur: Krunal Pandya on Sunday said it was Bhuvneshwar Kumar who played the “shot of the match” at the fag end as Royal Challengers Bengaluru clinched a low-scoring thriller by two wickets to knock Mumbai Indians out of contention for the Indian Premier League playoffs here. With nine runs needed off the last three balls,…
