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Investing.com — Oil prices fell Tuesday, retreating from their highest levels this year as weak Chinese services activity data pointed to more headwinds for the world’s second largest economy, and largest crude importer.

digital economy minister's document on Tuesday. "There's a lot of interest in many, many bodies, both multilateral, non-governmental, governmental, that are interested in making sure that continents and countries that have lagged behind the digitization have the ability to implement this in this form or in some other form," he added. Chandrasekhar said that there was a global consensus for the first time on the principles of DPIs, cybersecurity in digital economy and digital skills, within the G20 digital economy ministers' working group.

Reuters, the uncompromising positions on the conflict have resulted in a lack of consensus, to the extent that not even a single joint statement has been reached in the approximately 20 ministerial meetings held under India's G20 presidency this year. Consequently, it falls upon the leaders to navigate these challenges and attempt to find potential solutions.

Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S.

G20 Summit, scheduled to commence in India's capital, New Delhi, on September 9. This marks the first occasion that India plays host to this formidable assembly of global leaders.

G20 Summit, External Affairs Minister S Jaishankar on Monday said the focus should be on the position taken by countries on key burning issues than on the levels of representations at the conclave. «At the end of the day, countries are represented by whoever they have chosen to represent them.

By Gibran Naiyyar Peshimam

Israel’s prime minister is floating the idea of building infrastructure projects such as a fiber optic cable linking countries in Asia and the Arabian Peninsula with Europe through Israel and Cyprus

Jim O'Neill came up with the term ‘BRIC’ (Brazil, Russia, India and China) in 2001, little did he know that the acronym would become the groundwork for an ambitious alliance of the world’s highest-potential large economies. That potential is, in a way, now spreading, even as more nations dare to dream beyond the West’s hegemony. The BRICS bloc was born in 2009 as a response to the changing global economic landscape, aiming to promote cooperation on common challenges.

Labor Day 2023 in the US seems to have become fruitful for Sony and Escape Artists' «The Equalizer 3» as the movie made a spectacular global debut, raking in $60.6 million, marking the franchise's most impressive opening to date. Notably, the film's international box office performance, which amounted to $26.1 million across 49 markets, set a new record for the Denzel Washington-led series, as per a report. Among the initial suite of releases, the top five markets contributing to this success are the UK ($3.5 million), France ($2.8 million), Germany ($2.4 million), Spain ($1.7 million), and Saudi Arabia ($1.6 million), according to a report by Deadline.

By Paul Carsten

NEW DELHI (Reuters) — Leaders of the world's richest and most powerful countries will attend the two-day G20 Summit in India's capital New Delhi starting September 9.

Investing.com — Oil prices edged lower Monday, handing back some of the previous week’s strong gains but remaining near three-week highs on expectations that major producers will keep supplies tight.

OKX cryptocurrency exchange has entered the final stage before acquiring a virtual asset service provider license (VASP) in Hong Kong. The crypto exchange expects the final approval for a VASP by March next year.

Kotak Securities on Monday said that crude oil prices witnessed over 7% upside last week, biggest since March, as Russia signaled that it would extend export curbs and bets that Saudi Arabia will extend in October its voluntary monthly production cut of one million barrels per day introduced in July. Ravindra Rao, head of commodity research at Kotak Securities said, “WTI Crude oil futures surged more than 7% during the previous week and closed at $85.55 per barrel, as signs of tightening physical markets and continued efforts by Chinese authorities lifted the sentiments." The price of India oil crude basket rose 7.54% in August, reaching $86.43 a barrel. Analysts believe that despite recessionary concerns, output cuts, stimulus measures in China, and hopes of improved winter demand may keep the prices elevated.

Russia's share in India's crude oil imports fell to 34% in August from 42% in July as state-run refiners sharply reduced imports from Russia. Supplies from Russia fell 23% month-on-month to 1.47 million barrels per day (mbd) in August, even as India's overall crude imports fell 5% to 4.35 mbd, according to energy cargo tracker Vortexa. Russia's seaborne crude exports to China, however, increased to 1.4 mbd in August from 1.3 mbd in July. Indian state refiners took 852,000 barrels per day of Russian oil in August, 30% less than in July while private sector refiners' intake of 617,000 barrels per day was 13% lower than in July. Imports from Russia fell due to the planned maintenance work at some refineries in India as well as a reduction in the availability of Russian supplies, analysts said.

G20 Summit in New Delhi on September 9 and 10. The arrangements will be a showcase for Prime Minister Narendra Modi and India's growing presence on the world stage. The two-day summit will have the most high-profile guest list India has ever welcomed, from US President Biden to British Prime Minister Rishi Sunak and Saudi Arabia's Mohammed Bin Salman.

A week ago, Saudi Crown Prince Mohammed bin Salman sat with Iranian Foreign Minister Hossein Amir-Abdollahian in Jeddah for a meeting — or more importantly photo opportunity — he intended the world to see.

GDP share of the six new members, being added to the five-member BRICS grouping of emerging economies from January, will be just 11 per cent, with Saudi Arabia's contribution the highest at 4 per cent, an analysis shows. The proposed addition of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to the five-member BRICS, or Brazil, Russia, India, China and South Africa, will also see the grouping's share in the global GDP rising to 30 per cent from 26 per cent now and that of the population to 46 per cent, according to an analysis by the SBI Research. The expansion decision, effective January 1, 2024, was announced at the recent BRICS summit held in Johannesburg. Currently China contributes 70 per cent of the BRICS' GDP, which will decline to 62 per cent, while India chips in with 13 per cent now that will inch down to 12 per cent.

Indian Air Force aircraft performed air-to-air refuelling of Egyptian Air Force Aircraft on Sunday. The IAF IL-78 air-to-air refuelling aircraft took part in the ongoing Bright Star-23 Exercise in Egypt. Sharing the photos of the air-to-air refuelling on X, formerly Twitter, IAF said, “Showcasing the bonds of friendship in the skies over Egypt during Exercise Bright Star, where the Indian Air Force IL-78 air-to-air refuelling aircraft refuelled aircraft from the Egyptian Air Force".

G20 Summit in India next week, instead of President Xi Jinping who is going to skip the conclave, said people familiar with the development on Saturday. “The Chinese President is not traveling to India for the G20 Summit. Premier Li is likely to represent China at the Summit," said one of the people cited above on the condition of anonymity.