Business

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…

NEW DELHI: The Lok Sabha on Wednesday passed the Finance Bill, with 32 amendments moved by finance minister Nirmala Sitharaman, including specifying that in case of buyback of shares, additional income tax on capital gains made by promoters will face a 12% surcharge.The Finance Bill had proposed to replace dividend tax applicable to buybacks and…

NEW DELHI: With hopes of a resolution to the West Asia conflict rising, sensex rallied over 1,200 points in late session on Wednesday to close above the 75,000 mark again.As diplomatic initiatives to end the war between the US-Israel and Iran picked up pace, markets around the world rallied, crude oil prices slipped, and precious…