Low oil prices shrink Gulf jobs for Indians

Saudi Arabia, but it faces an equally worrying and more intractable problem of declining remittances from the Persian Gulf region due to low crude oil prices that have rendered a large number of expatriates jobless.Remittances to India from the Gulf countries fell 2.2% in 2015-16 from that a year ago to $35.9 billion, declining for […]

Russia and Ukraine Tensions Return As Oil Tanker Conflicts Spread from Middle East to Europe

The Ukrainian Security Service (SBU) said in a statement Thursday that it had detained the Russian tanker Nika Spirit, previously known as Neyma, at the southwestern port of Izmail. The statement referenced a confrontation last November that saw Russia’s own Federal Security Service (FSB) Border Service fire upon three Ukrainian navy ships, accusing them of […]

Tankers ship Iranian fuel cargoes to U.S. for seizure

The four tankers that initially carried the cargoes were the Liberia-flagged Bella, Bering, Pandi and Luna. They are owned and managed by companies controlled by Greece-based firms Vienna LTD and Palermo SA. The fifth vessel, the Wila, which was boarded by Iranian forces near the Strait of Hormuz on Wednesday, is owned by Bandit Shipping […]

Saudi Aramco to press ahead with plan to boost output capacity, CEO says

DUBAI/RIYADH (Reuters) – Saudi Aramco (2222.SE) is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group’s CEO said on Monday.

ED probes scam linked to embezzlement fraud in Brazil

Responding to a plea by advocate Vijay Aggarwal on behalf of Hamilton Housewares challenging the freezing of the account, ED counsel Amit Mahajan informed the Delhi high court on Thursday that the agency has acted on Brazil’s request as there is a mutual legal agreement between the countries. ED, without sharing the name of Brazil’s […]

Maruti to roll out CNG models of all small cars

Bhargava said factory-made CNG vehicles cost substantially more than those retrofitted with kits because of taxes and manufacturing costs but pointed out that they are also safer. “Retrofitment is done with imported parts — this is not Make in India,” he said. “To promote Make in India, the government must encourage factory-fitted CNG vehicles… We […]

Plant extracts could be key to new Māori-led export sector

Called Molecularly Imprinted Polymers, the technology had been around since the 1930s but Ligar was the first company in the world to use it at scale. It could also filter out contaminants, like pesticides in wine for example, Slaughter said.

Spotlight: Cuba seeks to promote foreign investment amid COVID-19

Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca said that once the three-phase single-window service is completed, companies, declarants, freight forwarders, transporters, and foreign suppliers will be able to better deal with registration, permits, as well as payments.