Johannesburg: Thousands of students, environmental activists and residents of Mauritius were working around the clock Sunday, trying to reduce the damage to the Indian Ocean island from an oil spill after a ship ran aground on a coral reef. An estimated 1 ton of oil from the Japanese ship’s cargo of 4 tons has already […]
Category: The Asian Age
Asianage
RIL-Aramco deal: Still working on deal to invest in Reliance, says Aramco CEO
Saudi Aramco Chief Executive Amin Nasser has said the company is ‘still working on the deal to invest in Reliance Industries’, Bloomberg reported, clearing the air on the agreement between the two companies. The statement from the Aramco CEO comes after RIL Chairman Mukesh Ambani, at the company’s annual general meeting in July, said that […]
Oil prices struggle to hold five-month high amid growing demand fears
MELBOURNE: Oil prices were unchanged on Thursday, struggling to hold onto five-month highs reached in the previous session, as fuel demand worries caused by a second wave of coronavirus infections outweighed declines in the U.S. dollar. U.S. West Texas Intermediate (WTI) crude futures were down 3 cents, or 0.1%, at $42.16 a barrel at 0148 […]
Fuel demand may take at least 6-9 months to rebound to normal levels: IOC
India’s fuel demand may take 6 to 9 months to rebound to normal levels as several states impose lockdown to curb the spread of coronavirus, Indian Oil Corp (IOC) Director-Finance S K Gupta said on Tuesday. Fuel sales had fallen by a record 45.8 per cent in April when a nationwide lockdown was in place […]
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 […]
Oil prices fall amid US-China tensions, increasing pandemic fears
SINGAPORE: Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets. Brent crude dipped 14 cents, or 0.3%, to $43.20 a barrel by 0242 GMT, while U.S. West Texas Intermediate (WTI) crude dropped to $41.19 a barrel, down 10 cents, or 0.2%. […]
China’s crude imports from Saudi hit fresh high in June
BEIJING: China’s crude oil imports from Saudi Arabia rose 15% in June from a year ago, as refiners ordered record volumes of the fuel in March and April when oil prices tumbled, cementing the kingdom’s position as the top oil supplier to China. Imports from Saudi Arabia rose to 8.88 million tonnes in June, or […]
IndiGo slashes pay up to 35% 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. The “deeper” pay cuts […]
5 Rafale fighter jets take off from France, to reach India on July 29
Five Rafale fighter jets operated by Indian Air Force (IAF) pilots took off from Merignac in France on Monday morning for India in a big boost to country’s air power at a time of military stand-off with China. These five jets include three single seater and two twin seater aircraft. The aircraft are likely to […]
Over 7.88 lakh Indians have been evacuated under Vande Bharat Mission: MEA
New Delhi: Over 7.88 lakh Indians have returned from abroad after the government launched the “Vande Bharat” evacuation mission on May 7 in view of the coronavirus p andemic, the Ministry of External Affairs (MEA) said on Thursday. Under the Phase 4 of the Vande Bharat mission, a total of 1,197 flights have been scheduled […]
Air India slashes employee monthly allowances by 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 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 […]