Twenty five Countries to Receive Debt Relief Service from IMF
Debts will be relieved by the International Monetary Fund (IMF) as part of strengthening global efforts against COVID-19.
Trade & Economy
IOC gets 1st shipload of oil from UAE to fill strategic reserves
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.
US employment plunges in March amid worsening coronavirus damage
The total unemployment rate rose from a 50-year low of 3.5 per cent to its highest level since August 2017.
Only India, China to survive coronavirus, rest of the entire world economy will go into recession: UN
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.
World has entered recession due to COVID-19, says IMF
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.
Amid talks with Reliance, Saudi Aramco says focusing investments in high-growth Indian market
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.
Petrol price falls below Rs 71; India to gain from Saudi, Russia price war
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.
India’s forex reserves jump to lifetime high of USD 481.54 billion
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.
MNCs turning away from China to India: TCPI
In the wake of trade protectionist measures and rising risks because of coronavirus, a number
Deadly Delhi riots have investors rethinking India’s future
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.