Country Financial News

By Belén Carreño

Fifty years ago this month, Arab members of the Organization of the Petroleum Exporting Countries cut off oil shipments to the U.S. in retaliation for American support of Israel during the 1973 Arab-Israeli War. The resulting energy crisis shocked the American people and rocked the economy.

By Mrinalika Roy and Sabrina Valle

(Reuters) — Exxon Mobil (NYSE:XOM) is in advanced talks to acquire Pioneer Natural Resources (NYSE:PXD) in a deal that could value the Permian Basin producer at about $60 billion, according to people familiar with the matter.

Good morning,

Gujarat government says there is a huge potential for small-scale wind power rooftop power projects as well. The renewable energy (RE) policy announced on Wednesday has made provision for setting up small-scale wind power projects on rooftops. “Small scale wind projects can be installed by consumers on rooftops or within premises under a net metering arrangement to offset their own consumption or under a gross metering arrangement and sell the entire generation to DISCOM, as per the applicable regulations of GERC.

Indian languages and, within the next decade, courts across the country can start using these, Supreme Court judge Justice Sanjay Karol said. Justice Karol made the comment while delivering his address as chief guest at the concluding ceremony of a Hindi Pakhwada organised by the Bharatiya Bhasha Abhiyan here on October 4.

A surprisingly robust September jobs report could put the Bank of Canada in the position to raise interest rates again later this month, some economists are arguing.

Fast-fashion giant Shein is expected to announce Friday new leadership overseeing its global growth initiatives as the company seeks to diversify its supply chain beyond China. Marcelo Claure, a former SoftBank Group executive, will serve as group vice chairman, a New York-based role that involves expanding manufacturing beyond China to be closer to Shein consumers, he said. “We’re not saying that we’re replacing China," Claure said.

Investing.com — U.S. Treasury yields jumped on Friday after new employment data showed that job growth in the world's largest economy unexpectedly surged in September, heaping on to investor worries that the Federal Reserve may now have more headroom to lift interest rates again in 2023 and potentially leave borrowing costs elevated for a longer period of time.

Mint delves into the specifics of the monetary policy report in five charts: Despite the recent rise in crude oil prices, the central bank retained its baseline assumption of $85 a barrel for the Indian basket for the second half of the fiscal year. While Brent crude prices had risen to as much as $98 a barrel in September, they fell below $90 on Friday. However, oil prices are known to be volatile and if they settle above $90 for longer, the RBI's inflation projections could prove to be an underestimate.

Russian President Vladimir Putin is preparing the country’s economy for a long war in Ukraine. Military spending and war-related expenditures have already fueled much of Russia’s economic growth this year, helping the country weather the impact of Western sanctions. Next year, the government plans to increase military spending even more.

BJP leader Dharmendra Pradhan on Friday said he wants to contest the 2024 Lok Sabha polls from Odisha and has requested the party to give him a chance. In an interview with PTI, Pradhan said the BJP's agenda is to ensure that Prime Minister Narendra Modi gets to serve the nation for a third term. «I want to contest the Lok Sabha polls in 2024.

JP Morgan has projected FY24 as a "washout year" for India's $245 billion IT industry, which represents over 7.5% of the country's GDP. This isn't merely a reflection of earlier industry apprehensions, but a dire alert for the sector to address systemic challenges before it is too late. “We remain negative on the sector as we haven't seen a meaningful uptick in demand in our recent checks.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Catch live updates from Day 13 of Asian Games 2023 For Japan, the only goal was struck in the 51st minute by Seren Tanaka, who successfully used a penalty corner.

(Reuters) — Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI's ChatGPT are complicating governments' efforts to agree laws governing the use of the technology.

Exchange-traded funds that buy emerging-market equities are undergoing a churn — and the biggest loser is the BlackRock Inc. fund that helped usher in passive investing to the asset class two decades ago.

FDI) in the Space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through government route only. While addressing a road-show event for the Vibrant Gujarat Summit to be held on January 10-12, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said, the government may liberalise FDI norms for the country's Space sector.

Congress general secretary Priyanka Gandhi Vadra on Friday said if her party retains power in Chhattisgarh after the upcoming assembly polls, a caste census will be carried out in the state on the lines of a similar exercise conducted in Bihar. Addressing 'Nagariya Nikaay Evam Panchayati Raj Mahasammlen', an event of the Congress government in Chhattisgarh's Kanker district, she also promised ten lakh houses for the poor if her party gets elected again in the polls due by the year-end. Hitting out at the BJP-led government at the Centre, Gandhi alleged it is for the rich and has no concern for the poor or the middle class. «If the Congress party again elected to power in Chhattisgarh, a caste census will be carried out in the state on the lines of a caste survey conducted in Bihar,» she said.

Home Minister Amit Shah on Friday reviewed the security situation in Naxal-affected states where violent incidents have come down by 77 per cent in 2022 in comparison to the high of 2010, officials said. The review meeting was attended by the chief ministers of Maharashtra, Andhra Pradesh and Jharkhand. Maharashtra Deputy Chief Minister Devendra Fadnavis also attended the meeting where Odisha, Bihar, Madhya Pradesh and Chhattisgarh were represented by state ministers.

coking coal, especially from major producer Australia, officials at four domestic mills said. Steel mills are likely to raise rates by $25 to $50 a metric ton by December, said the officials, who did not wish to be named as they are not authorised to speak to media.