The storages at Mangalore and Padur are half-empty and there was some space available in Vizag storage as well. These will now be filled by buying oil from Saudi Arabia, the UAE and Iraq.
The total unemployment rate rose from a 50-year low of 3.5 per cent to its highest level since August 2017.
With two-thirds of the world’s population living in developing countries facing unprecedented economic damage from the COVID-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations.
The key to recovery in 2021, the IMF said, is only if the international community succeeds in containing the coronavirus everywhere and prevent liquidity problems from becoming a solvency issue.
The world’s biggest oil exporter Saudi Aramco has said it is focusing its downstream investments in high-growth nations such as India as it negotiates a deal to buy up to 20 per cent stake in Reliance Industries’ USD 75 billion oil-to-chemical business.
In Delhi, petrol prices dropped to Rs 70.59 a litre, the lowest since early July 2019, and diesel rate were cut to Rs 63.26, according to a price notification of state-owned firms.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves rose by USD 1.02 million to USD 30.38 billion.
In the wake of trade protectionist measures and rising risks because of coronavirus, a number
Rising religious tensions may make it easier for investors to turn their backs on India as the economy stutters, according to Simon Chauchard, Assistant Professor of Political Science at Leiden University.
Bilateral trade stood at nearly 88 billion dollars in 2018-19 fiscal