Saturday, Nov 18 2017 | Time 10:11 Hrs(IST)
image
  • 'Issue of nominated members to Assembly not under my jurisdiction' : CS
  • Officers from New Delhi to participate in Railway 'grand camp fire' in Kashmir
  • Abdulrahman makes shortlist for Asian player award
  • All educational institutions closed in Srinagar, exams as per schedule
  • China says will work with North Korea to boost ties as envoy visits
  • Trump halts decision to allow elephant trophy imports after uproar
  • Argentina intensifies search for missing submarine with 44 crew
  • Can carbon-sucking technologies hold back climate change?
  • Strong earthquake rattles Tibet but no damage reported
  • Srinagar-Leh highway remains closed, Kashmir highway open
  • Rail service suspended in Kashmir for security reasons
  • Earthquake of magnitude 6'3 strikes southern China -USGS
  • Russia blocks bid to briefly extend Syria chemical weapons inquiry
  • Saudi Arabia recalls its ambassador to Germany for consultation
  • Lebanon's al-Hariri on twitter: "I am on the way to the airport"
Business Economy Share

Crude oil price of Indian basket crosses $62.40 per bbl

New Delhi, Nov 10 (UNI) The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas has crosses the 62.40 dollar per barrel (bbl) mark on Thursday.
Though, it was lower than the price of US$ 62.42 per bbl on November 8. 2017, it is expected that it may rise by 10 dollar in coming days which may hurt the Indian economy as government will be forced to cut the duty on petroleum products resulting in loss of revenue for the government.
According to the Reserve Bank of India (RBI) estimates, if oil price hits high or even stays at the current level of 65 dollar per barrel in the year through March, inflation could rise by 30 basis points.
Oil prices rose nearly 1 per cent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.
As per the analysts the sharp rise in the crude oil prices is driven by developments in Saudi Arabia in recent days and anticipation that the consolidation of power by King Salman and the Crown Price will continue.
Along with the political turmoil, Saudi Arabia has plans to cut crude exports by 120,000 barrels per day which is pushing the prices for huge importers like India.
The continued rally in the prices may hurt the Modi government as it will be forced to slash the duty imposed on the petroleum product earning good revenue to the exchequer which may disrupt the government plans and project.
The crude prices were high at 114 dollar per barrel when the Modi government took over in May 2014 and since then the prices fell to a lower band of 40 dollar per dollar. At one point it had even went down to 30 dollar per barrel. The prices remained below 50 dollar till September and now it has crossed the 60 dollar barrier.
UNI ADP AE 1437
Top News

Rail service suspended in Kashmir for security reasons

Srinagar, Nov 18 (UNI) Train service has been suspended on Saturday for security reasons in the Kashmir valley, where a militant and a Sub Inspector (SI) of state police were killed in an encounter on Friday evening on the city outskirts.

see more..

Srinagar-Leh highway remains closed, Kashmir highway open

Srinagar, Nov 18 (UNI) The 434-km-long Srinagar-Leh national highway remained closed for vehicular traffic for the second day on Saturday while traffic on historic Mughal road was suspended since Friday afternoon due to slippery conditions.

see more..

All educational institutions closed in Srinagar, exams as per schedule

Srinagar, Nov 18 (UNI) All educational institutions remained closed as a precautionary measure on Saturday in Srinagar district, where a militant and a Sub Inspector (SI) of state police were killed in a brief encounter on the city outskirts yesterday.

see more..
French Foreign Affairs Minister calls on PM

French Foreign Affairs Minister calls on PM

New Delhi, Nov 17 (UNI) Prime Minister Narendra Modi said on Friday the significance of India-France Strategic Partnership is not limited to the bilateral context, but 'acts as a force for peace and stability in the regional and global context as well.

see more..
Defence Minister rubbishes Rahul’s allegations on Rafale deal

Defence Minister rubbishes Rahul’s allegations on Rafale deal

New Delhi, Nov 17 (UNI) Defence Minister Nirmala Sitharaman on Friday rubbished Congress party’s allegations of bypassing the procedures in procuring 36 Rafale aircrafts from France, saying that the deal for the planes was done in a transparent manner and had to be struck quickly keeping in mind the defence preparedness of the Indian Air Force (IAF).

see more..
Diplomats urge govt to address Delhi air pollution problem

Diplomats urge govt to address Delhi air pollution problem

New Delhi, Nov 17 (UNI) The killing Delhi air pollution has evoked serious concerns among the diplomatic community which was conveyed to the External Affairs Ministry by Dean of Diplomatic Corps Frank Hans Dannenberg Castellanos on Friday.

see more..
Gulmarg, upper reaches receive fresh snowfall, rain in plains

Gulmarg, upper reaches receive fresh snowfall, rain in plains

Srinagar, Nov 17 (UNI) World famous ski resort of Gulmarg and other higher reaches received fresh snowfall in the Kashmir valley, where plains, including summer capital, Srinagar, experienced rain resulting in further chill on Friday.

see more..
image