World Economics

 Iran election: Hardliner Raisi will become president Published19 June Share media captionWariness and welcome for Iran's president-elect Hardliner Ebrahim Raisi has won Iran's presidential election in a race that was widely seen as being designed to favour him. He thanked Iranians for their support, after securing 62% of the votes. Mr Raisi is Iran's top judge and holds ultra-conservative views. He is under US sanctions and has been linked to past executions of political prisoners. Iran's president is the second-highest ranking official in the country, after the supreme leader. Who is Ebrahim Raisi, Iran's next president? The unusual way power is held in Iran Iran's presidential election: Four ways it matters Mr Raisi will be inaugurated in early August, and will have significant influence over domestic policy and foreign affairs. But in Iran's political system it is the country's supreme leader, Ayatollah Ali Khamenei, the top religious cleric, who has...

 Hardening stances by Iran and U.S. complicate negotiations to revive nuclear deal Image without a caption Abbas Araghchi, right, political deputy at Iran’s Ministry of Foreign Affairs, and Kazem Gharibabadi, Iran’s ambassador to the International Atomic Energy Agency, in Vienna after closed-door nuclear talks June 20. (Joe Klamar/AFP/Getty Images) By  Kareem Fahim  and  Karen DeYoung   June 28, 2021 at 2:47 a.m. GMT+5:30 76 ISTANBUL — Iran's parliament speaker said Sunday that Tehran would never share with the U.N. nuclear watchdog recorded footage of activity at some of its nuclear sites, in a sign of the hardening rhetoric by both Iran and the United States during the prolonged and increasingly tense negotiations aimed at reviving a 2015 nuclear accord. The comments by the parliament speaker, Mohammad Bagher Ghalibaf, came days after the expiration of a separate agreement between Tehran and the International Atomic Energy Agency, or IAEA, that allows the U.N....

 In-Depth | Iran nuclear accord is within reach; will it derail oil price rally, and how will it impact India?  Crude prices have rallied by nearly 34 percent this year despite the risk of virus mutants hitting the fragile recovery in demand. A section of experts believe Iran's re-entry into the global oil market can lead to a brief period of downward revision, but doubt whether Iranian supplies would be strong enough to sustain the trend.Updated : June 26, 2021 / 06:17 PM IST By Mohammed Shaikh   Crude oil prices, after the historic sub-zero plunge in mid-2020, have been steadily recovering over the past 10 months. But the current price rally may be derailed by one imminent geopolitical factor - the revival of the Iran nuclear accord. Reactivation of the 2015 nuclear deal is a matter of when, and not if, say experts as they weigh in on its potential impact on the global oil prices. The accord, formally known as Joint Comprehensive Plan of Action (JCPOA), came into effect...

 Brent Crude From Wikipedia, the free encyclopedia This article needs attention from an expert in Energy. The specific problem is: this article is very technical and at the same time lacks references. After merging Brent Index article here, it also needs checking for potential repetitions. WikiProject Energy may be able to help recruit an expert. (January 2015) Location of the Brent oil platform in the North Sea Monthly average Brent spot prices since May 1987 Brent Crude may refer to any or all of the components of the Brent Complex, a physically and financially traded oil market based around the North Sea of Northwest Europe; colloquially, Brent Crude usually refers to the price of the ICE Brent Crude Oil futures contract or the contract itself. The original Brent Crude referred to a trading classification of sweet light crude oil first extracted from the Brent oil field in the North Sea in 1976.[1] As production from the Brent oilfield declined over time, crude oil blends from o...

 Explained: Why did oil prices turn negative in the US and what does it mean for Indian consumers? The trend has spilled over to WTI June 2020 deliveries, which could also be well on their way into the red as we move towards physical delivery dates Bilal AbdiETEnergyWorldUpdated: April 22, 2020, 07:23 IST Explained: Why did oil prices turn negative in the US and what does it mean for Indian consumers?New Delhi: Global oil markets have faced unprecedented developments in the last few weeks, with the most recent being US oil marker- West Texas Intermediate- falling to as low as -$37 per barrel on Monday trading. ETEnergyWorld explains what are oil futures, why US oil prices were pushed in the negative territory and whether India can gain from fall in oil prices in the US. What are crude oil futures? Crude oil futures are contracts where buyers and sellers of oil agree to deliver a specific quantity of crude oil on a given date in the future at a specific price. In oil futures one con...

 Over Rs 68,600-crore loans of wilful defaulters written off, says RBI The write-offs are technical or prudential in nature, which means the banks have made 100 per cent provisions against the loans Topics RBI | Loan write-off | Mehul Choksi Anup Roy & Dev Chatterjee  |  Mumbai  Last Updated at April 29, 2020 02:18 IST Follow us on Tiny URLAdd to My PagePrint Email 33 RBI RBI maintains records of loans above Rs 5 crore given by banks, both fund and non-fund based, in its Central Repository of Information on Large Credits (CRILC) database ALSO READ SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition After acquiring Ruchi Soya, Ramdev's Patanjali aims to beat HUL in sales Ruchi Soya locked in 10% upper circuit; stock zooms over 105% in 12 days Banks baulk at Rs 4,000-cr loan to Patanjali for Ruchi Soya acquisition Baba Ramdev's Patanjali Food & Herbal Park gets a triple-notch downgrade   Indian banks have written off Rs 68,607 crore...

  India economy: Seven years of Modi in seven charts https://www.bbc.com/news/world-asia-india-57437944 By Nikhil Inamdar and Aparna Alluri BBC News, Delhi Published 1 day ago Share IMAGE COPYRIGHT GETTY IMAGES Narendra Modi stormed India's political stage with grand promises - of more jobs, prosperity and less red tape. His thumping mandate - in 2014 and again in 2019 - raised hopes of big bang reforms. But his economic record, in the seven years he's been prime minister, has proved lacklustre. And the pandemic battered what was an already under-par performance. Here's how Asia's third-largest economy has fared under Mr Modi, in seven charts. Growth is sluggish Mr Modi's avowed GDP target - a $5 trillion (£3.6 trillion) economy by 2025, or roughly $3 trillion after adjusting for inflation - is a pipe dream now. Independent pre-Covid estimates for 2025 had touched $2.6 trillion at best. The pandemic has shaved off another $200-300bn. Rising inflation, driven by glob...