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Russian oil to be purchased by India despite sanctions
According to an official from the Indian Oil Ministry, the country will continue to purchase Russian crude oil even after the embargo and price cap are implemented on December 5. India has consistently stated its intention to purchase…
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Russian oil is capped at $60 per barrel by the European Union
The EU agreed with the G7 to cap Russian oil prices to deprive the Kremlin of funds for its Ukraine war, as Putin said strikes on Ukraine's infrastructure were "inevitable". With an EU embargo on Russian crude oil from Monday, the $60 per…
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Indian Railways earns 76 percent more from the passenger segment
Indian Railways' passenger segment earnings increased by 76 percent from April to November this year. In these months, Indian Railways earned more than 43 thousand crore rupees, compared with 24 thousand 631 crore rupees in last year's…
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A total of €328 billion was invested in R&D by the EU in 2021
In 2021, the EU spent €328 billion on research & development (R&D), an increase of 6% over the previous year (€310 billion). Data published by Eurostat, the EU's statistical office, shows an increase of 43.9% over 2011. In terms of…
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Global remittances to India are set to cross the record $100-billion mark in 2022
Indian migrants earning relatively high salaries in the United States, United Kingdom, and East Asia are expected to boost global remittances to India by 4 percent. Indian migrants in high-income countries worked from home during the…
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European inflation is unlikely to have peaked – ECB President Lagarde
After reaching record levels, the head of the European Central Bank believes inflation has not peaked. ECB President Christine Lagarde also said the bank would continue raising interest rates to combat those price spikes. In October,…
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634,000 Ford vehicles are being recalled worldwide because of fire risks
On Thursday, Ford Motor Co announced that it was recalling 634,000 sport utility vehicles (SUVs) worldwide over the possibility that their fuel injectors may be cracked and that owners should have their cars inspected. A recall has been…
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Tesla stock plummets, leaving Wall Street analysts in the dust
In the wake of Tesla Inc.'s rapid selloff, most Wall Street analysts' price targets have become obsolete. Tesla shares must rally 80% to reach the median analyst target price, the second-biggest gap on the Nasdaq 100 Index behind Baidu Inc.…
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Indian economy to grow by 6.1 to 6.3 percent in Q2 – RBI
Reserve Bank of India (RBI) said in its monthly bulletin that high frequency indicators and economic prediction models predict 6.1%-6.23% growth in the second quarter of the current financial year. "In 2022-23, India will grow at about 7%…
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Bangkok hosts Asia-Pacific leaders for a conference on trade and sustainability
There will be a Pacific-Rim summit taking place in the capital of Thailand this week that will focus on competition between great powers in Asia, inflation, food and energy shortages. Two closed-door sessions will be held Friday and…
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