China’s third quarter economic growth slowed to its weakest pace since the global financial crisis as trade war with the United States began to bite. The economy grew 6.5 percent in the third quarter from a year earlier, slower than the second quarter.
State-run fuel retailers on Thursday cut petrol and diesel prices by 21 paise and 11 paise per litre, respectively, marking the first reduction in over two months brought about by a drop in crude price. But it would be premature to rejoice as geopolitical events unfolding in West Asia are expected to keep crude on a short fuse.
Such a move, which is part of the Unified Fall Agenda of the Trump administration, will have a detrimental impact on the functioning of Indian IT companies in the US and also small and medium-sized contractual companies in the IT sector, which are mostly owned by Indian Americans.
Credit Suisse’s 2018 global wealth report revealed that by mid-2018, there were an estimated 3,43,000 millionaires in India, a rise of 7,300. India is also home to one of the highest proportions of female billionaires at 18.6%. India’s dollar wealth grew to $6 trillion and wealth per adult stayed flat at $7,020.
A total of 22 million barrels of Iranian crude oil loaded on supertankers owned by the National Iranian Tanker Co (NITC) are headed for Dalian, the data showed. Dalian typically receives between 1 million and 3 million barrels of Iranian oil each month, according to the data that dates back to January 2015.
The so-called “cum-ex” deals relied on complex tax trickery that allowed owners of shares to claim several times over refunds for tax paid only once on dividend payouts — effectively syphoning off taxpayers’ money into investors’ pockets.
Under the current regulation, skilled immigrants from India need to wait anywhere between 25-92 years for a green card due to per-country limits, said GCReforms.org. As of April 2018, 632,219 Indian immigrants, their spouses and minor children were waiting for green cards.
This is the first price cut arising from a drop in international oil prices. The rates were reduced by a minimum Rs 2.50 per litre across the country on October 5, when the government cut excise duty on petrol and diesel by Rs 1.50 a litre and asked oil PSUs to subsidise the fuels by another Re 1 a litre.
Operating profit of its traditional petrochemicals business — the biggest contributor to RIL’s earnings — zoomed nearly 64% to Rs 8,120 crore even as new ventures retail and digital services business (Reliance Jio) made healthy contributions to its earnings.