Indian rural demand slumps to four-decade low

MUMBAI Consumer spending in India’s rural areas has plummeted to a four-decade low, a leading business daily reported Friday, bringing more bad news for Prime Minister Narendra Modi as he struggles to revive a stuttering economy. Consumer demand in India’s villages fell 8.8 per cent between July 2017 and June 2018 — the sharpest 12-month […]

Adnoc sign long term sales agreement with Emirates Global Aluminium

Abu Dhabi: Adnoc on Wednesday announced that it has signed a long-term agreement with Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside the oil and gas sector, to supply EGA with the majority of the calcined petroleum coke produced by its new Carbon Black and Delayed Coker (CBDC) facility in Ruwais. […]

Iran moves on ultra-cheap petrol

TEHRAN: Iran imposed petrol rationing and raised pump prices by 50 per cent or more on Friday, in a new move to cut costly subsidies that have fuelled high consumption and rampant smuggling. The Islamic republic provides some of the most heavily subsidised petrol in the world, with the pump price previously standing at just […]

US signals China trade talks in final, hardest steps to a deal

Washington Two top economic advisers of President Donald Trump signalled talks with China to reach the first phase of a broad trade agreement are entering the final stages when the most contentious and complex issues are debated, with no guarantee still that another breakdown will be averted. White House economic adviser Larry Kudlow told reporters […]