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NEW DELHI: India is set to receive its first oil from Iran in seven years after the U.S. temporarily removed sanctions on Iranian oil and refined products to ease supply shortages, ship tracking data from LSEG and Kpler showed on Wednesday. State-run Indian Oil Corp purchased the cargo, currently on the Curacao-flagged very large crude carrier Jaya, which is heading to India's east coast and is set to arrive later this week, the data showed. Indian Oil, the country's top refiner, did not imme ...Read More >
BENGALURU: Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint. Brent crude futures rose 57 cents, or 0.5%, to $110.34 a barrel by 1202 GMT, while U.S. West Texas Intermediate crude futures were up $1.26, or 1.1%, at $113.67. Trump, has threatened to rain "hell" on Tehran if it fails to comply with his deadline of 8 p.m. EDT ...Read More >
NEW DELHI: Two more Indian-flagged liquefied petroleum gas tankers, Green Asha and Green Sanvi, have exited the Gulf carrying the fuel for the South Asian nation, according to ship tracking data on LSEG and Kpler. A third vessel, Jag Vikram, is still in the west of the Strait of Hormuz, the data showed. The U.S.-Israeli war against Iran has all but halted shipping through the strait, but Iran says "non-hostile vessels" may transit the waterway if they coordinate with Iranian authorities. Gre ...Read More >
NEW DELHI: Oil prices reversed course in Asian trading on Tuesday, paring earlier gains, following a report that U.S. President Donald Trump told aides he is willing to end the Iran war without reopening the Strait of Hormuz. Brent crude futures for May were down $1.22, or 1.08%, to $111.56 per barrel at 0210 GMT after rising 2% earlier in the session. The May contract expires on Tuesday and the more active June contract was at $105.76. U.S. West Texas Intermediate futures for May fell 98 cent ...Read More >
BENGALURU/HYDERABAD: Donald Trump's H-1B visa crackdown will hasten U.S. firms' shift of critical work to India, turbocharging the growth of global capability centres (GCCs) that handle operations from finance to research and development, economists and industry insiders say. The world's fifth-largest economy is home to 1,700 GCCs, or more than half the global tally, having outgrown its tech support origins to become a hub of high-value innovation in areas from design of luxury car dashboards t ...Read More >
NEW DELHI: Air India will suspend services between New Delhi and Washington, D.C. from September due to aircraft shortages caused by upgrades to its Boeing planes and as Pakistan's airspace ban for Indian carriers affects its international routes. The suspension will mean there are no flights between the two capital cities by an Indian airline, and comes amid rising tensions over U.S. President Donald Trump's high tariffs on Indian imports. Air India, acquired by the Tata Group from the govern ...Read More >
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