An Aramco employee walks past near an oil tank at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia. Reuters
Reliance Industries’s June-quarter profit rose 7 per cent, as double-digit growth in the Indian conglomerate’s retail and telecoms businesses helped offset its worst oil refining margins in 18 quarters.
Rebutting rumours about the financial health of Reliance Group, its Chairman Anil D. Ambani on Tuesday said the Group has met debt servicing obligation of Rs 35,000 crore during the period from April 1, 2018 to May 31, 2019.
The end on Thursday of US sanctions waivers for purchases of Iranian oil is likely to hit India’s economy hard, increasing fuel costs and quickening inflation, analysts say.
India’s Reliance Industries, operator of the world’s biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins. Reliance, controlled by billionaire Mukesh Ambani, said
Finance Minister Nirmala SItharaman has said a calibrated and balanced approach to deploying a mix of fiscal, monetary and structural measures by countries can help achieve their growth potential and asked the IMF
British shoppers grew more cautious about their spending in the three months to September despite enjoying real growth in their wages, raising concerns about the health of the economy in the run-up to Brexit.
In yet another milestone in the 5G journey, Etisalat successfully completed the first end-to-end 5G Standalone (SA) call in the UAE and has become the first operator in the Mena region to achieve this milestone.