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Fuel demand recovers from 13-year-low as economic activity gains momentum

by pallanus | Jul 10, 2020 | Business News

India’s fuel demand in June extended its recovery from a 13-year low hit in April, lifted by a pickup in activity as the economy gradually reopens from lockdown restrictions imposed to combat the coronavirus pandemic, government data showed on Thursday. Consumption of...

India’s IT sector may see mass layoffs as demand outlook remains weak

by pallanus | Jul 8, 2020 | Business News

Instability across the global information technology sector, which employs a large pool of fresh college graduates, has been laying off thousands of employees in the wake of the coronavirus pandemic. IT companies in India, too, have resorted to layoffs, though they...

Indian households shun downmarket palm oil, cutting demand in lockdown

by pallanus | Jul 7, 2020 | Business News

Palm oil demand in India, the world’s top edible oil importer, is set to plunge this year as coronavirus lockdowns slash food service sector demand and households opt for alternatives at the supermarket. India’s palm oil imports could plunge 20% from a year ago to 7.5...

Oil prices remain mixed as coronavirus spike casts shadow over demand

by pallanus | Jul 6, 2020 | Business News

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while US benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude LCOc1...

Trade body demand ban on Chinese firms HUAWEI & ZTE from Indian 5G rollout

by pallanus | Jul 5, 2020 | Business News

Amid high border tension between India, China, the Confederation of All India Traders wrote to Union Minister Ravi Shankar Prasad demanding to ban HUAWEI & ZTE Corporation of China from participating in the 5G network rollout in India. The Huawei logo is seen on a...
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