India, UAE vow to strengthen energy cooperation
UAE is a key oil supplier to India and a partner in an Indian joint venture that plans to build a 1.2 million barrels per day (bpd) refinery and petrochemical complex on the country’s west coast.
Trade & Economy
Did “Boycott China” work? India’s exports to China increase in 2020
Trade deficit with China has declined 19.39 per cent from USD 56.95 billion in 2019 to USD 45.91 billion in 2020 as the country’s imports from the neighbouring country contracted 10.87 per cent to USD 66.78 billion from USD 74.92 billion in 2019, the data showed.
Exclusive: India to clear 45 investments from China, likely to include Great Wall, SAIC – sources
The change in the Indian government’s stance follows an improvement in the border situation. Troops who were in eyeball to eyeball confrontation in territory claimed by both sides have been withdrawn, the two countries announced on Sunday.
Why India is buying more crude oil from Africa & North America and not Middle East
India’s shift to exporters like US and Nigeria comes amid an increased demand for gasoline, as the pandemic pushes people to private cars instead of public transport.
In Davos speech, UN chief highlights private sector role in pandemic recovery
The private sector has a key role to play in lifting countries out of both the COVID-19 and climate crises, UN Secretary-General António Guterres told international business leaders on Monday.
Air travel down 60 per cent, as airline industry losses top $370 billion: ICAO
A new report from the UN’s air transportation agency confirms there was a “dramatic” fall in international air travel due to COVID-19,
IOC Buys Its First Cargo Of Iraqi Basra Medium Oil
Indian Oil Corp (IOC), the country’s top refiner, has loaded its first cargo of Iraq’s newly introduced Basra Medium crude grade, according to ship tracking data from Refinitiv Eikon and a source with knowledge of the matter.
Lulu Group to invest Rs 200 cr in Noida
The Abu Dhabi-based Lulu Group has announced its expansion plans in Uttar Pradesh, involving Rs 200 crore more investment at Greater Noida.
World Bank expects global economy to expand by 4% in 2021
The World Bank Group on Tuesday issued a guarded growth forecast for the global economy this year, saying that a four per cent overall expansion was likely, although the recovery will likely be a “subdued” one.
The virus that shut down the world: Economic meltdown
With millions forced to work from home this year, offices and shops closing as part of containment measures, and travel severely curtailed everywhere, it was inevitable that the economy would suffer.