At stake for India are both the supplies and prices of crude oil. India imports around 4.7 million barrels per day (bpd) of crude, equivalent to 88 per cent of its needs, and meets 45 per cent of its natural gas demand via imported liquefied natural gas.
Most of those supplies are shipped to India via two chokepoints the Strait of Hormuz and the Red Sea - because India, unlike China and the US, lacks transnational pipelines to import oil and gas.
Iran's first direct attack on Israel after an airstrike by Tel Aviv two weeks back on an Iranian embassy compound in Damascus killed an Iranian general and six officers. Also, the Lebanese group Hezbollah launched rockets on April 14 targeting the air defence headquarters of The Israel Defense Forces in Golan Heights, CNN reported.
The Red Sea shipping route via the Suez Canal has been under stress since January after attacks by Yemen-based Houthi rebels in retaliation for the Israeli invasion of Gaza. Now, the Strait of Hormuz the world's most crucial oil chokepoint which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea - is in the cross hairs of an expanding conflict in West Asia.
هذه القصة مأخوذة من طبعة April 15, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة April 15, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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A life that lives beyond
The passing of Ratan Tata marks the loss of not only an iconic leader but also a global visionary whose influence extended far beyond business.
Ratan Tata: The unlikely social media star
On Monday, Ratan Tata posted on social media: \"Thank you for thinking of me,\" debunking rumours about his health. Just two days later, on Wednesday, the former Tata Group chairman passed away in a Mumbai hospital at the age of 86.
Paytm appears poised for rebound
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license.
Love-all, RAFA
'KING OF CLAY' TO SIGN OFF FROM PROFESSIONAL TENNIS BY THE END OF THIS SEASON
Aman for startups
Ratan Tata was known as much for his business acumen as for his philanthropy. However, a lesser-known fact was his stellar track record when it came to startup investment.
RBI's inflation caution may halt FMCG rally
Analysts suggest buying quality stocks on dips for long term
Indices close marginally higher
Equity benchmark indices Sensex and Nifty settled higher on Thursday due to gains in banking, power, and industrial stocks amid a firm trend in global markets.
Oil gains after 2-day decline
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Pro-rata distribution mandate for AIFs likely to see tweaks
Final norms to ensure excuse, exclude provisions co-exist
Bernstein downgrades Indian stocks on valuation concerns
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