Reliance Industries Limited (RIL) named Yasir Al-Rumayyan, chairman of Saudi Aramco and governor of the kingdom’s wealth fund Public Investment Fund, as a director on its board during the AGM.
Oil Industry News: Indian state-owned oil and gas producer Oil and Natural Gas Corporation Limited (ONGC) is told to sell its stake in the country’s oil fields as part of the Ministry of Petroleum and Natural Gas seven-point plan to boost production after a year of limited production.
Crude oil up settled yesterday by 0.13% at 4658 on reports the Organization of the Petroleum Exporting Countries (OPEC) and its allies are likely to delay their plans to any significant increase crude output for now.
On Friday the 10-year US Treasury yields fell slightly but held above the 1.5% level, ahead of data out later in the morning showing the number of jobs added in February.
The 20 biggest nations need to back a $650 billion boost to the International Monetary Fund’s currency, reallocate existing reserves and extend debt payment relief to the poorest countries, former policymakers and poverty campaigners said.
The spike in diesel and petrol prices in India has brought attention to the country’s high dependence on crude oil imports. India produces less than one-fifth of its oil requirements and imports the rest.
Central banks from Hong Kong, China, Thailand and United Arab Emirates are exploring a digital currency cross-border payment project together. The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) worked together to study the application of central bank digital currencies (CBDC) last year.
On Monday Huawei launched a foldable smartphone as it faces questions over the future of its handset business that has been hurt by a number of United States sanctions. The Huawei Mate X2 launch highlights Huawei’s continued push into the high-end smartphone space.
On Friday WhatsApp, a Facebook-owned messaging platform said it conveyed to the government of India its commitment to protecting personal communications across the nation.
On Thursday crude oil futures edged higher to Rs 4,388 per barrel after hitting a fresh intraday high for February series of Rs 4,500 on the MCX. Crude oil rose on higher drawdown of US crude stockpiles and as cold weather in Texas shut production across the largest US crude producing state.