Thu, Nov 28, 2024
The Finance Ministry would review the efficacy of windfall tax on the export of petrol, diesel and Aviation Turbine Fuel (ATF) as global crude oil prices have stabilised, sources said. Phenomenal profits made by some oil refiners on exporting fuel at the expense of domestic supplies had prompted the government to introduce an export tax on petrol, diesel and ATF in July 2022.
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Fri, Oct 04, 2024
India is bound to be impacted by the spillover impact of global developments, a central government official has said.
Tue, Oct 01, 2024
Brent crude slipped below $70, Brent crude fell by about 2.5%
Mon, May 01, 2023
Brent futures for July delivery were down 55 cents, or 0.7%, at $79.78 a barrel at 0009 GMT, while U.S. West Texas Intermediate (WTI) crude lost 54 cents, also a 0.7% drop, to trade at $76.23.
Sat, Apr 29, 2023
In this week's Commodities Capsule, ZeeBiz's Neha Anand discusses the latest trends in the commodity universe, including gold, silver, base metals and crude oil. Watch this video for a comprehensive overview of the current commodity market trends.
The Dow Jones Industrial Average (.DJI) rose 272 points, or 0.8%, to 34,098.16, the S&P 500 (.SPX) gained 34.13 points, or 0.83%, to 4,169.48 and the Nasdaq Composite (.IXIC) added 84.35 points, or 0.69%, to 12,226.58.
Wed, Apr 26, 2023
Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel.
Sat, Apr 22, 2023
Thu, Apr 20, 2023
Crude prices slipped for the second consecutive day. Why are oil prices under pressure despite falling stockpiles in US? Know from Neha Anand.
Wed, Apr 19, 2023
The government has increased the windfall tax on domestic crude oil output to Rs 6,400 per tonne as part of its efforts to rationalise the tax structure in the petroleum industry and encourage investments
Windfall tax: The government has brought back a windfall tax on domestically-produced crude oil. With effect from April 19, a tax rate of Rs 6,400 per tonne is applicable, according to an official notification.
Tue, Apr 18, 2023
On Monday, the BSE Sensex tanked 520.25 points or 0.86 per cent to settle at 59,910.75 and NSE Nifty fell 121.15 points or 0.68 per cent to finish at 17,706.85.
Mon, Apr 17, 2023
Crude Oil: Will it bounce or slide? Watch to know here.
Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big U.S. bank earnings launched first-quarter reporting season.
Thu, Apr 13, 2023
The market will digest lots of cues at its opening today, where the inflation numbers of the US and India will be a key factor and the results of TCS will be another important factor, Santosh Meena, Head of Research, Swastika Investmart said in his comment.
Wed, Apr 12, 2023
"Nifty rose for the seventh consecutive session on April 11 helped by positive global cues. Asian and European markets mostly rose on Tuesday after an Easter break with the focus now turning to the release of US inflation data later in the week," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Tue, Apr 11, 2023
The benchmark indices BSE Sensex and NSE Nifty50 have risen by around 4 per cent in the six days of gains which is the longest winning run since the eight-day rally from November 22 to December 1 last year.
Crude last week jumped more than 6 per cent after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market with a new round of production cuts starting in May.
Tue, Apr 04, 2023
The government has cut the windfall profit tax on domestically produced crude oil to zero and halved the levy on the export of diesel to Rs 0.50 per litre in line with softening international oil prices, according to an official order.
Windfall tax cut: The windfall tax of Rs 3,500 per tonne on domestically-produced crude oil has been removed, effective immediately. The Centre has halved the levy on diesel to Re 0.5 per litre from Re 1 per litre.
The Reserve Bank of India (RBI) is expected to hike the benchmark interest rate by 25 basis points in the bi-monthly monetary policy to be announced on April 6, under pressure to bring down retail inflation and keep pace with global peers.
Mon, Apr 03, 2023
The three main US stock market benchmarks — the Dow Jones, the S&P 500 and the Nasdaq Composite — began the day with minor cuts. All eyes were on moves in crude oil, whose benchmark Brent staged its biggest single-day rally in almost a year after a surprise output cut by the OPEC+ grouping of top producers.
Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Which sectors, companies will benefit? Know complete details from Varun Dubey.
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