CHENNAI: With the Reserve Bank of India cutting its key repo rate by 25 basis points (bps) this week, Citigroup has said that there is room for another 25 bps easing in policy rates by September or earlier. The brokerage has cut its FY17 consumer price index (CPI) forecast from ... Read More »
CHENNAI: Credit rating agency Moody’s Investors Service on Thursday said India’s rising foreign direct investment (FDI) inflows reduces the current account deficit and also the external financing needs. In a statement Moody’s said it does not expect widening of India’s current account deficit based on its assumptions that commodity prices ... Read More »
MELBOURNE: The Adani Group on Thursday said it will restart talks with stakeholders to take forward its plans to build one of the world’s largest coal mines in Australia, days after the Indian mining giant’s controversy-hit $21.7 billion project won three mining leases. “The granting of mining leases (MLs) means ... Read More »
NEW DELHI: The rupee does not face any “serious challenge” of depreciation and will find its own level after initial bouts of volatility, finance minister Arun Jaitley said on Thursday. “I think India’s currency is finding its own level. I don’t see a very serious challenge,” he said at an ... Read More »
MOSCOW, April 4 — Russian oil producer Lukoil said Monday its full-year 2015 profit was down more than 20 percent from the previous year, though total output increased. Lukoil, the No. 2 oil producer in Russia, reported total petroleum productionincreased 2.8 percent to reach 2.4 million barrels of oil equivalent ... Read More »
ABERDEEN, Scotland, April 4 —British oil services company Wood Group said it was given a contract extension by a Middle East company to continue operations in the North Sea. The Abu Dhabi National Energy Co., known also as TAQA, extended a contract for Wood Group by two years. “Under the ... Read More »
NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »
NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »
MOSCOW, April 4 — Russian weapons firm Kalashnikov, maker of the iconic AK-47 assault rifle, is looking to expand its domestic sales as U.S. and international sanctions continue to strain the company’s bottom line. Russian military contracts continue to make up a large portion of the company’s sales, Vladimir Dmitriev, ... Read More »
WASHINGTON, April 4 — A Lockheed Martin-led team has been contracted by the U.S. Navy to build the 13th Freedom-class littoral combat ship. The award — the exercise of an earlier contract option — includes funding for seaframe construction, systems integration and testing. The vessel, LCS 25, will be built ... Read More »
BEN GURION INTERNATIONAL AIRPORT, Israel, April 4 — Israel Aerospace Industries reports it is producing command, control, communications and computing systems for F-35 aircraft ordered from the United States. The announcement follows completion of the systems definition, prototyping and testing phases of the C4 system. “Using generic communications infrastructure based ... Read More »
WASHINGTON, April 4 — U.S. Army testers successfully fired two new missiles from a prototype version of the service’s newest mobile launcher, expanding the slate of viable munitions for the weapon. An AIM-9X Sidewinder and Longbow Hellfire were both fired from the Multi-Mission Launcher during a round of weapons testing ... Read More »
