• Friday, December 01, 2023


India asks OPEC to ensure oil market stability

Representational Image: iStock

By: Shubham Ghosh

HERE are news in brief on Indian economy and business for Monday, November 13, 2023:

India, the world’s third largest oil consumer, has asked oil producers’ cartel OPEC to maintain and ensure market stability for the benefit of consumers, producers and global economy. The country’s oil minister Hardeep Singh Puri said this at the 6th India-OPEC Energy Dialogue that took place on November 9 in Vienna, an official press statement said on Monday. The meeting was co-chaired by OPEC secretary general Haitham Al Ghais and Puri. “The open and candid discussions at the meeting focused on key issues related to oil and energy markets with a specific emphasis on ensuring availability, affordability and sustainability, which are necessary in ensuring the stability of energy markets,” the statement said.

India will host the 33rd Conference of the World Organisation for Animal Health (WOAH) Regional Commission for Asia and the Pacific, scheduled from November 13-16 in New Delhi. Parshottam Rupala, fisheries, animal husbandry and dairying minister Parshottam Rupala will take part in the inaugural and concluding ceremonies. Junor ministers for fisheries, animal husbandry and dairying Sanjeev Balyan and L Murugan will also be present in the event. The decision to host this significant event was made during the 90th General Session of the World Assembly of Delegates of the WOAH in Paris in May this year.

Adani Ports and Special Economic Zone Ltd (APSEZ) has registered its highest ever half-yearly revenue of Rs 12,894 crore (£1.26 billion) and EBITDA of Rs 7,429 crore (£72.7 billion) in the second quarter, according to a press release by Adani Ports and Logistics. The APSEZ announced its results for the second quarter and six months ending September 30, 2023, on Monday. “APSEZ achieved another milestone by registering its highest ever half yearly revenue of Rs 12,894 crore, EBITDA of Rs 7,429 crore and cargo volumes of 203 MMT during H1 FY24,” said Karan Adani, the CEO and Whole Time Director of Adani Ports and Special Economic Zone.

The Airports Authority of India (AAI) has issued a press release cautioning the public about fraudulent job offers circulating across the country. According to a press release by AAI, numerous complaints have been reported through emails, social media, and other channels. Misinformation includes details about the number of vacancies, key exam questions, exam dates, result publication dates, and false promises of jobs in exchange for payment. The public is strongly advised to rely only on the official AAI website (www.aai.aero) for accurate information. AAI emphasised that all application fees are payable only during online registration, and no other payments are solicited at any recruitment stage.

Indian manufacturing has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body FICCI (Federation of Indian Chamber of Commerce and Industry) latest quarterly survey revealed. The industry body’s latest quarterly survey assessed the performance and sentiments of manufacturers for the July-September 2023-24 quarter for 10 major sectors — automotive and auto components, capital goods and construction equipment, cement, chemicals fertilizers and pharmaceuticals, electronics and white goods, machine tools, metal and metal products, textiles, apparels and technical textiles, paper, and miscellaneous.

(With agencies inputs)

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