Author: Navisha Joshi

As the monsoon season begins in August, the demand for fuel in India continues to decrease. During the first half of August, gasoline consumption is nearly unchanged. But demand for diesel, which is the most extensively used fuel in the country, fell by 11.2% between August 1 to 15. The beginning of the monsoon season in India led to a decrease in consumption in important sectors including agriculture. According to preliminary statistics released by the industry on Tuesday, this marked the second consecutive month that diesel demand in India has declined. In July, there was a decrease in monthly demand for…

The June quarter’s premium income increased by 20.4%, according to the Life Insurance Corporation of India (LIC) (LIFI.NS) announcement on Friday. This increase resulted from the COVID-19 limits being loosened, which boosted policy sales for the insurer, which primarily relies on its brokers. On Friday, the Life Insurance Corporation of India (LIC) (LIFI.NS) announced a 20.4% increase in premium income for the June quarter. This increase came as a result of the loosening of COVID-19 restrictions, which encouraged sales of policies for the insurer, which relies heavily on its agents. The renown insurance company drives its business mostly through an…

OPEC stated in its monthly report on Thursday that it expected oil demand to increase by 3.2%, or 3.1 million bpd, in 2022. This is as a 260,000 bpd decrease from the previous prediction. OPEC lowered its forecast for growth in world oil demand in 2022 on Thursday, marking the third time since April that it has done so. It noted that OPEC had anticipated an increase in the demand for oil of 3.2%, which is equivalent to 3.1 million barrels per day, in 2022. However, a new prediction with  a drop of 260,000 barrels per day compared to the previous forecast has now been…

On Thursday, benchmark indices rose in response to favorable inflation statistics. Sensex increased by over 500 points, while Nifty rose by 120 points. Except for FMCG, Auto, and Media, all indices ended in the green. Axis, Bajaj Finance, HDFC, and Tech Mahindra were among the companies with the greatest gains in the Indian stock market. Tata Consumer had plummeted. Asia’s stock markets followed the advance on Wall Street on Wednesday as data from the United States showing lower inflation than expected. The underperforming inflation fueled rumors that the Federal Reserve will shift to a slower pace of interest rate hikes.…

Indian firms have started purchasing Russian coal by exchanging dollars for Asian currencies. They’re bypassing the U.S. dollar and reducing the danger of violating Western sanctions against Moscow. Payments made in yuan, euro, Hong Kong dollar, and UAE dirham were most common in the month of June. Indian corporations are increasingly utilizing Asian currencies to pay for Russian coal imports, according to customs documents and industry sources. They’re bypassing the U.S. dollar and reducing the danger of violating Western sanctions against Moscow. Reuters had previously reported on a significant Indian coal sale that involved the Chinese yuan; but the customs data…

The decline in U.S. stock prices hurt Berkshire Hathaway Inc’s (BRKa.N) second-quarter earnings. The conglomerate run by billionaire Warren Buffett disclosed a $43.8 billion loss on Saturday. CEO Buffett advises investors to disregard the volatility because if stock prices grow over time, Berkshire will profit. The decline in the price of U.S. stocks had a negative impact on the bottom line of Berkshire Hathaway Inc. (BRKa.N) during the second quarter. On Saturday, the conglomerate that is run by billionaire Warren Buffett reported a loss of $43.8 billion. Berkshire also slowed down its acquisitions of equities, including the company’s own. This was despite…

In spite of having a price tag of $2.3 billion and having the potential to provide energy security during the oil crisis of the 1970s, the Bataan Nuclear Power Plant (BNPP) in the Philippines has not produced any electricity since it was completed in 1984. Despite its $2.3 billion price tag and promise of energy security during the 1970s oil crisis, the Bataan Nuclear Power Plant (BNPP) in the Philippines has not produced power since it was completed in 1984. Approved by previous dictator Ferdinand Marcos Sr., his son and current President Ferdinand Marcos Jr. has reopened discussions on options…

Cuba has announced that on Thursday it will begin acquiring dollars and other convertible currencies. The dollar/ peso exchange would occur at a rate almost five times higher than the current rate. This is an effort to compete with the black market and collect the funds. Cuba has declared that it will begin acquiring dollars and other convertible currencies on Thursday. The Dollar to Peso exchange would happen at a rate that is about five times higher than the rate that is now in effect. This is an effort to undercut the informal money market and to collect the funds.…

On Thursday, the Bank of England is likely to hike interest rates by the largest since 1995 in an effort to prevent a jump in inflation from becoming ingrained in Britain’s economy. Even though there is a growing likelihood of a recession, the Bank of England is likely to increase interest rates by the greatest amount since 1995 on Thursday. This will be done in an effort to prevent a jump in inflation from getting ingrained in the British economy. When the Bank of England (BoE) announces its decision at 1100 GMT, most investors and economists anticipate that it will…

Industrial activity in China declined unexpectedly in July, despite the fact that enterprises had recovered from COVID-19 lockdowns the previous month. This was owing to the impact of additional virus outbreaks and a bleak global outlook on demand. According to a study that was released on Sunday, manufacturing activity in China unexpectedly decreased. Despite businesses having bounced back from COVID-19 lockdowns the previous month, a drop in activity during the month of July occurred . This was due to additional virus flare-ups as well as a gloomy global outlook, which weighed on demand. Lessening of the Purchasing Manager’s Index in China The official…