Progressive Financial News

IEA) on Thursday lowered its forecast for growth in oil demand in 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. In its monthly report, the IEA forecast demand for oil will rise by 880,000 barrels per day (bpd) in 2024, down from its previous forecast of 1 million bpd, based on broader economic concerns and a faster adoption of electric vehicles among other energy efficiency measures. However, the Paris-based agency that advises the United States and other industrialised countries, raised its 2023 demand forecast to 2.3 million bpd, from a previous estimate of 2.2 million. OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support prices. In September, global benchmark Brent hit 10-month highs after Saudi Arabia and Russia extended their combined 1.3 million bpd cuts until the end of the year. «If extra cuts are unwound in January, the balance could shift to surplus, which would go some way to help replenish depleted inventories,» the agency said. Although Russia pledged to cut crude exports until the end of 2023, according to the IEA's estimates Moscow's total exports of crude oil and products in September rose by 460,000 bpd to 7.6 million bpd, with crude accounting for 250,000 bpd of the increase. The jump in exports highlights the difficulty the West has faced in trying to reduce Russian exports and revenue to Moscow amid its war with Ukraine. Last year, the IEA predicted harsh Western sanctions would lead to a collapse in Russian energy exports. ECONOMIC HEADWINDS, GEOPOLITICAL RISK Oil prices fell sharply last week as a darkening economic outlook intensified fears of slower growth in demand, eclipsing supply concerns.

By Ahmad Ghaddar

PwC Australia spin-off Scyne has been approved by the powerful Finance Department to take on the federal government contracts of its predecessor and accept new Commonwealth work.

By David Shepardson and Joseph White

Gendered notions of what makes an effective lawyer are preventing women from reaching the top levels of the legal profession, research has found.

Eddie Jones is expected to be named as Japan’s next head coach after his Australia side failed to progress from the pool stages of the Rugby World Cup for the first time.

Thailand's prime minister says Malaysia’s national carmaker Proton and its Chinese partner Geely are considering setting up a plant in Thailand to produce electric vehicles

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₹637 crore, while losses narrowed from ₹514 crore to ₹308 crore. Urban Company’s India business broke even in the first quarter of FY24, it said. “We made meaningful progress in improving profitability driven by operational leverage in fixed costs and driving efficiency across other costs," the company said in a post on its website in August.

BMO Financial has announced some leadership changes within its Capital Markets and Investment & Corporate Banking groups.

Jaishankar on Wednesday called on Sri Lankan President Ranil Wickremesinghe here and held «extensive discussions» aimed at enhancing the relationship between the two neighbours. The minister, who is here to attend the 23rd Council of Ministers Meeting of the Indian Ocean Rim Association (IORA), met with President Wickremesinghe at the Presidential Secretariat. «Called on President of Sri Lanka Ranil Wickremesinghe today evening in Colombo.

Narendra Modi will inaugurate on Friday the meeting of Presiding Officers of Parliaments of G20 member nations that will deliberate on critical global issues such as gender equality and transforming lives through public digital programmes. Lok Sabha Speaker Om Birla will kick-start the three-day summit on Thursday by chairing a Parliamentary Forum on LiFE (Lifestyle for Environment), a movement proposed by Modi to advocate sustainable lifestyles to safeguard the environment.

India and China exchanged views in an open and constructive manner for an early and mutually acceptable resolution of the remaining issues along the Line of Actual Control in eastern Ladakh, the Ministry of External Affairs said on Wednesday, a day after the two sides concluded two days of military talks. It said the two sides agreed to maintain the momentum of dialogue and negotiations through the relevant military and diplomatic mechanisms.

Livemint, the official website of Mint, the award-winning business and financial daily published by HT Media Group, has emerged as the fastest-growing news website in India. It recorded a 41% year-on-year increase in the number of page visits, according to Press Gazette's August 2023 ranking of the top 50 news websites in the world. The report also ranked Livemint as the third fastest-growing news site globally.

CEO Daniel Alegre informed employees about the changes, stating that his six-month tenure at the company revealed the need for streamlining. “I realized very quickly that there were a number of projects that, while well-intentioned, either spread the team too thin or required execution expertise beyond our core competencies," said Alegre in the email, which was published online by Yuga. As per the agency report, a Yuga spokesperson chose not to disclose the exact number of affected employees.

Economic Times. British Prime Minister Rishi Sunak has earlier reiterated his commitment to closer India-UK ties across different sectors, including a FTA, between the two countries. According to official UK Department for Business and Trade (DBT) figures, UK-India bilateral trade was worth an estimated 36 billion pounds in 2022.

India and the UK are likely to sign a proposed free trade agreement (FTA) in the last week of this month. It will be New Delhi's first such comprehensive deal with an industrialised nation, seeking to spur bilateral annual business beyond the current $20 billion.

"Invest in Girls' Rights: Our Leadership, Our Well-being" In 1995 World Conference on Women in Beijing, countries unanimously adopted the Beijing Declaration and Platform for Action – the most progressive blueprint ever for advancing the rights of not only women but girls. According to the United Nations, the Beijing Declaration is the first to specifically call out girls’ rights.

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher.

Making Money host Charles Payne discusses the impact of the expansion of the UAW strikes.

Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday said his government has given jobs to more than six lakh youngsters in the last six years. Addressing a function at the Lok Bhavan to distribute appointment letters to 393 homoeopathic pharmacists, Adityanath said, «If these youngsters work together with full dedication and energy, then no one can keep Uttar Pradesh 'bimaru'. Together we will make UP a capable and prosperous state.» «Earlier it used to take one-and-half to two years for the announcement of results by the UP Public Service Commission, but now the UP Subordinate Services Selection Commission is giving results (of examinations) in six to nine months in a fair and transparent manner,» the UP chief minister said.