Improved economic activity to support demand for steel, cement & chemicals in India: Fitch

Fitch Ratings forecast strong medium-term growth to support the demand for India’s steel, cement and chemicals sectors, with improved economic activity boosting power and petroleum product sales. The credit rating agency also said the adequate balance sheet buffers and strengthening demand should mitigate pricing and cost pressure at most … Read more

Oil Prices Steady as Concerns About Tight Supply and Weakening Demand Persist

Text size High oil prices are already causing demand destruction, said an executive at crude trader Vitol Group. Getty Images Crude prices held steady early Monday as traders weighted the prospect of recession in the second half against worries that supply will remain limited. Brent crude, the international standard, was little changed at $111.77 a … Read more

Delhi LG Saxena seeks public opinion on meeting city’s water demand

Delhi Lieutenant Governor VK Saxena on Monday invited suggestions from the public to make the national capital self-sufficient in meeting drinking water demand. The LG said Delhi’s water demands are unsustainable and there is a shortage of around 280 million gallons a day (MGD) of drinking water in the … Read more

Oil Swings as Traders Grapple With Recession Concerns, Demand

(Bloomberg) — Oil fluctuated as investors weighed concerns that a global slowdown will erode demand against still-solid physical market signals. Most Read from Bloomberg West Texas Intermediate rose toward $109 a barrel after dropping more than 1% earlier in the session. Trading volumes will likely be weaker than usual on Monday given the holiday in … Read more

Reinsurers demand higher renewal rates as floods in focus – Local – Insurance News

Reinsurers have sought significant rate increases at the Australian June and July renewals as the market responds to the high level of local and global natural catastrophes and a changing economic environment, international broking groups say. “The June and July renewals were a market-changing event for Australia,” Aon says in a report. “The market is … Read more

Micron Issues Muted Sales Forecast On Demand Weakness

Memory-chip maker Micron Technology issued a subdued revenue outlook, spooking investors even as it reported a strong rise in earnings for its latest quarter. “Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth” in coming quarters, Chief Executive Sanjay Mehrotra said in a statement, adding that he … Read more

Energy company cyber demand ‘skyrockets’ – Daily – Insurance News

Energy company demand for cyber insurance has skyrocketed globally in recent months as firms worth billions of dollars find themselves at the top of hacker target lists, a Gallagher report says. The Global Energy Insurance Market Update says energy and utility companies are vulnerable to exploitation given their large geographic spread, organisational complexity and interdependencies … Read more

Extend GST compensation or raise share, states demand of FM Sitharaman

The all-powerful GST Council might see a stormy discussion around compensation payout to states, with Opposition-ruled states aggressively pushing for its continuation beyond the five-year period which ends on June 30. Some states ministers wrote to Finance Minister Nirmala Sitharaman on Tuesday seeking a change in the GST revenue … Read more

Opposition-ruled states demand continuation of GST compensation for 5 years

States ruled by Opposition parties have demanded that either the revenue sharing formula under the GST regime should be changed or the compensation period should be extended by five years, amid concerns over revenue losses. The Goods and Services Tax (GST) was introduced on July 1, 2017, and states … Read more

Sultry weather pushes power demand of Delhi to highest ever at 7,601 MW

The oppressive hot and humid weather prevailing in the national capital pushed peak power demand of the city to highest ever at 7,601 megawatt on Tuesday afternoon, officials said. As per realtime data of State Load Dispatch Centre (SLDC), city’s peak power demand clocked 7601 MW at 3.21 PM. … Read more