India continued to rely on Russia as its primary source of crude oil in January 2024, according to data from the commerce ministry. Russia accounted for nearly a third of all imported crude oil, with a value of USD 4.47 billion. This represents a 41 per cent increase year-on-year and a 14 per cent rise […]
Danone and Nestle, the leading consumer goods companies, said on Thursday that they will slow price rises in 2024, following two years of hikes that pushed many buyers to seek cheaper alternatives for essential items such as yoghurt and coffee. However, Danone, which owns brands such as Evian and Badoit waters and Activia yoghurt, warned that prices […]
Easing global oil prices would help India boost imports from Russia, a senior government official said on Friday, as a lower than USD 60 a barrel price of Russian oil will enable buyers to use Western services such as insurance and ships. The Group of Seven large economies known as G7 and some other nations […]
German Chancellor Olaf Scholz, on Saturday, said that the people globally have been affected by higher prices, energy shortages and food security due to Ukraine war, as per Reuters. In a press conference, on the sidelines of the G20 Summit, the German Chancellor said, “What cannot be not talked about is the Russian war of […]
Global trade remained resilient and performed better than pessimistic predictions for 2022 as economies greatly affected by the war in Ukraine found alternative sources of supply, according to a World Trade Organisation note. For the longer-term outlook, new WTO simulations showed the importance of strengthening the multilateral trading system, with least-developed countries likely to be […]
