NEW DELHI: Indian refiners are cutting crude processing and shutting units for maintenance as local fuel demand falls and global refining margins are weak, officials at the companies said. Fuel demand in Asia’s third largest economy had been rising since May from historic lows in April, when a nation-wide lockdown to stem the spread of […]
Category: Deccan Chronicle
Deccan Chronicle
Oil prices inch higher after sharp drop in US crude inventories
TOKYO: Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States decreased against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere. Brent crude LCOc1 was up by 24 cents, or 0.6%, at $43.46 a barrel by 0041 GMT, after […]
IndiGo slashes up to 35% pay for senior employees
New Delhi: IndiGo on Monday said it is implementing “deeper” pay cuts of up to 35 per cent for its senior employees in order to reduce its cash outflow amid the coronavirus pandemic. From May onwards, IndiGo had implemented pay cuts of up to 25 per cent for its senior employees.
IndiGo slashes up to 35% pay for senior employees
New Delhi: IndiGo on Monday said it is implementing “deeper” pay cuts of up to 35 per cent for its senior employees in order to reduce its cash outflow amid the coronavirus pandemic. From May onwards, IndiGo had implemented pay cuts of up to 25 per cent for its senior employees.
Oil prices edge higher on expected US stimulus, weak dollar
MELBOURNE: Oil prices rose for a third straight day on Tuesday, buoyed by support for demand coming from efforts to stimulate the U.S. economy’s recovery from the coronavirus crisis and a weakening of the dollar that makes crude cheaper for global buyers. Brent crude futures climbed 35 cents, or 0.8%, to $43.76 a barrel at […]
Passengers refusing to wear masks not to be allowed to board: US airlines
Amid a surge in coronavirus cases, US airlines have announced that passengers refusing to wear face masks will not be allowed to board planes. The rules have been announced by American, Delta, Southwest and United Airlines. The Washington Post reported that only children younger than two years of age would be permitted to fly without […]
Air India slashes employee monthly allowances up to 50%
New Delhi: Air India has reduced monthly allowances of its employees who have a monthly gross salary of more than Rs 25,000 by up to 50 per cent, according to an internal order of the company. The order, dated July 22, said basic salary and allowances linked to it like industrial dearness allowance (IDA) and […]
Oil ticks up, but gains capped by demand destruction
SINGAPORE: Oil prices ticked higher on Thursday, although gains were limited by a surprise increase in U.S. crude oil reserves as the coronavirus pandemic hit fuel consumption. U.S. crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, the Energy Information Administration said on Wednesday, as a sharp rise in […]
Oil ticks up, but gains capped by demand destruction
SINGAPORE: Oil prices ticked higher on Thursday, although gains were limited by a surprise increase in U.S. crude oil reserves as the coronavirus pandemic hit fuel consumption. U.S. crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, the Energy Information Administration said on Wednesday, as a sharp rise in […]
IndiGo to cut 10% staff, says CEO Ronojoy Dutta
BENGALURU: IndiGo, India’s biggest airline, said it will cut 10% of its workforce as it grapples with declining revenues due to the fallout from the COVID-19 pandemic. Airlines around the world have been hammered by a slump in travel demand due to restrictions aimed at containing the coronavirus outbreak, and few expect a quick recovery.
Oil prices fall on US inventory build, increasing pandemic fears
SINGAPORE: Oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world’s biggest oil consumer. In his first briefing in months focused on the pandemic, U.S. President Donald Trump said that the outbreak would probably […]
‘Discoms ensuring 24/7 power supply to hospitals’
VIJAYAWADA: WITH the state government engaged in a long battle against Covid-19, the Energy Department is focussing on 24/7 power supply to all hospitals, Covid care centres, quarantine centres and testing labs to facilitate continuous medical care to patients. The power utilities are said to have been working closely with medical and health department to […]