Business

NEW DELHI: India’s largest private fuel retailer Nayara Energy on Thursday raised its prices by Rs 5 per litre and diesel by Rs 3 a litre amid the ongoing Middle East crisis. Nayara Energy, which operates 6,967 of India’s 102,075 petrol pumps, has decided to pass on part of the increase in input costs to…

In a regulatory intervention following an operational lapse, aviation watchdog Directorate General of Civil Aviation (DGCA) has asked Air India to take corrective measures after the airline operated a Delhi–Vancouver flight with an aircraft that was not approved for the route, a senior official said on Thursday.Action has also been initiated against an airline official…

Russian President Vladimir Putin. (AP photo) Russia’s energy revenues are surging as the Iran war rattles global oil markets, with Vladimir Putin estimated to be earning at least $760 million a day from oil and gas exports.According to the Kyiv School of Economics (KSE) Institute, monthly revenues could nearly double from about $12 billion to…

UAE Car Insurance: Third-Party or Comprehensive? The Decision That Could Cost You Thousands As car ownership continues to rise across the UAE along with repair costs, extreme weather risks and high-value vehicles, one question keeps surfacing among residents: Should you choose comprehensive insurance or stick to basic third-party cover? The difference is not just technical,…

Around 80% of Qatar’s LNG exports are directed to Asia, but higher prices are forcing India to look for alternative supplies. (AI image) The US-Iran war has had far reaching implications beyond the immediate rise in global oil and gas prices. The Middle East conflict has led to hits on key energy infrastructure in Gulf…

Gold appears poised to extend its rally toward the 155,000 level in the upcoming sessions. (AI image) Gold and silver price prediction today: Gold and silver prices may sustain their up move in the coming sessions, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. MCX Gold Price Outlook On the weekly…

India has faced significant disruption to energy supplies routed through the Strait of Hormuz. (AI image) For the first time in several years, India has reportedly purchased liquified petroleum gas (LPG) from Iran after the Donald Trump administration granted a 30-day sanctions waiver to keep oil and gas prices in check. India had stopped energy…

Strait of Hormuz (AP photo) Iran on Thursday said that, despite ongoing military escalation in the Middle East, it has allowed transit through the Strait of Hormuz for “friendly nations,” including India.The consulate general of Iran in Mumbai shared a statement from Iran’s foreign minister Abbas Araghchi, saying: “We have permitted passage through the Strait…

MUMBAI: The US move to send a 15-point proposal to Iran aiming at ending the war in West Asia, combined with a slowdown in hostilities between the warring nations on Wednesday sent oil prices sliding and precious metals rallying.In late trades on Wednesday, Brent was trading at $97.2/barrel, down 3% on the day. In the…

NEW DELHI: The empowered group of officials to deal with the fallout of the West Asia conflict got down to business on Wednesday, and began mapping the demand and supply situation, and also started identifying potential sources to ensure that supply chains are not disrupted.Food and fuel availability are top priority and detailed reports have…