The IMF’s April 2025 Regional Economic Outlook for Sub-Saharan Africa presents a clear warning: regional growth is slowing, debt pressures are mounting, and donor assistance is declining. Yet the report outlines critical opportunities particularly in domestic revenue mobilization, structural reform, and private sector activation that can shape a more resilient …
Govt's Wavering Stand On Fuel Prices Is Bleeding Oil Marketing Companies Our Bureau MUMBAI CONTRARIAN investors say excessive gloom is often a good sign that it is time to buy that stock. Somehow, this formula has not worked for stocks of oil marketing companies in India. Constant interference by successive …
A "mixed bailout package,' comprising a "moderate hike' in the prices of diesel and petrol and a re-adjustment in the customs duty on crude oil and the excise duty on the two fuels, was understood to have been "finalised' at a meeting between Prime Minister Manmohan Singh and United Progressive …
The government on Thursday said it will not raise the notified prices of coal this year, a decision that will help steel and power firms that are battling high input costs. "There is no plan to increase the notified prices of coal this year. Instead, we will enhance our production …
Bonds & Raising Prices Too On Agenda GLOBAL oil prices have been northward-bound for a while now. Even as countries debate over price hikes, increased subsidies and demand management, India is still trying to find the right strategy to deal with the oil crisis. While sharp increases in retail prices …
THE Congress leadership on Thursday directed the finance and petroleum ministers to place its proposals for fuel price hike before a ministerial group on Friday. The informal group comprising Mr Pranab Mukherjee, Mr AK Antony, Mr P Chidambaram and Mr Murli Deora will work out a politically tenable package for …
RBI eases lending norms to oil companies. The government looked set to raise petrol and diesel prices by Rs 3-4 a litre and Rs 2 a litre respectively this weekend to curtail losses of state-owned oil firms even as the Reserve Bank of India extended them a helping hand by …
THE fuel price imbroglio continued on Thursday even as crude oil prices held firm at around $130 a barrel. Prime Minister Manmohan Singh has now stepped in to take a final call on the price hike after the finance and petroleum ministries failed to reach a consensus on both the …
The economic analysts argue that there are many reasons; direct and indirect, behind the current oil price hike. They mainly attribute to the developments in China and India which had increased the consumption levels of the fuel per day. This situation had led the Organisation of Petroleum Exporting Countries (OPEC) …
The Government has decided to save 40 per cent of money spent on fuel for three-wheelers by converting them for running on gas. This will reduce the burden on both three-wheeler drivers and commuters due to recent fuel price hike. Transport Minister Dullas Alahapperuma told the Daily News that the …
The finance ministry's proposal to seek compensation by way of cess on income and corporate taxes for any duty reduction on crude oil and motor fuels has put the ball squarely in the court of UPA chairperson Sonia Gandhi and PM Manmohan Singh. With finance minister P Chidambaram's meeting with …
A cess or surcharge on income tax and corporate tax may be levied to bail out oil firms reeling under high global prices as the Petroleum Ministry's proposal to raise petrol price by Rs. 10 a litre, diesel by Rs. 5 a litre and that of LPG by Rs. 50 …
Melbourne petrol prices have hit an all-time high of 164.9 cents a litre today. As crude oil futures dipped below $US129 a barrel this morning, the city's unleaded petrol prices surpassed last week's record high of $162.9. The average price so far today is 149.9 cents per litre of unleaded …
Deora meets Dr. Singh, seeks sharp hike to bail out OMCs Under-recoveries of OMCs could touch Rs. 200,000 crore this fiscal, Prime Minister told Stand-off between Petroleum, Finance Ministries figure in Manmohan-Deora meeting NEW DELHI: A crucial meeting of the Empowered Group of Ministers (EGoM) on petroleum has been convened …
Govt Tries Balancing Act To Protect Consumers And Burdened Oil Companies Rajeev Jayaswal NEW DELHI THE government is working on a dual strategy of fuel price hikes coupled with duty cuts to shield consumers and cash-strapped oil companies. The finance ministry has asked the petroleum ministry to chalk out various …
Despite political setbacks for the Congress leaving little room for a hike in motor fuel prices, the Petroleum Ministry is toying with the proposal for a "massive hike in petrol' prices to bring them on a par with the market rates. Diesel, LPG and kerosene, however, will be left untouched. …
Leaders across Asia are starting to give in on the prickly issue of fuel subsidies, hiking prices in the face of $130 a barrel oil, but careful calibration of the steps may allow them to get away with it. Indonesia jacked up fuel prices by an average of 28.7 percent …
The same old "package' of reduction in taxes and duties, issuance of oil bonds and higher subsidy sharing by the upstream oil companies will not work this time around. Only increasing the retail prices of petroleum products will. Will the Government go the extra mile? Raghuvir Srinivasan Advertisement The Government's …
Officials from five Arctic coastal countries will meet in Greenland this week to discuss how to carve up the Arctic Ocean, which could hold up to one-quarter of the world's undiscovered oil and gas reserves. Canada, Denmark, Norway, Russia and the United States are squabbling over much of the Arctic …
Sivaganga: Union finance minister P Chidamabaram on Sunday said that inflation was a global phenomenon, resulting from rising crude oil prices. Speaking to reporters, he said India was a major importer of crude oil and 75% of the nation's demand of crude oil was met from imports. Crude oil prices …
