Global News

[ad_1] ISLAMABAD: It does not require any elaboration that people are suffering from high inflation, especially in the energy sector. There are both supply and pricing issues. It is also known that heavy currency devaluation and international commodity crisis in the context of Ukraine conflict have, in large part, contributed to these problems. The problems are becoming unbearable, although the government’s pricing policies have tried to save the poor from the brunt of energy price inflation. In the process, middle classes are suffering and falling into the ranks of the poor. The tragedy is that more is yet to come. Policymakers and administrators are at a loss as to what to do? There are a number of long-term solutions that have often been discussed, but in this piece, we will try to look for some steps, which may help reduce the misery of the people. Governments’ hands are tied under an IMF agreement. Cost has to be recovered in full from consumers, although cross-subsidy...

[ad_1] NEW DELHI: Indian imports of Russian crude are likely to decline on narrowing discounts and payment problems, forcing refiners to boost supplies from other sources, a senior government official told reporters on Monday. Russia has emerged as the biggest oil supplier to India after Western nations shunned purchases from Moscow over its invasion of Ukraine in February last year. Indian refiners have been gorging on Russian oil on the basis of deep discounts to benchmark Brent prices. But discounts on Russia's flagship Urals grade have tumbled to $3-$3.5 a barrel for August loading and September delivery, while the availability of Russian oil in spot markets has declined, a source at one Indian refiner said. That discount is down from $8-9 per barrel in July and is $1-2 per barrel narrower than previous estimates. Due to falling discounts, Russian oil is often priced above the $60 per barrel ceiling imposed by Western nations, the official said. Discounts have been nar...

[ad_1] Two weeks into the second half of the year, we put together a quick look at the top four performers and the bottom four in Jim Cramer's Charitable Trust, the stock portfolio we use for the Investing Club. The first full trading week of July saw Wall Street under some pressure Friday after a multisession winning streak. Gains month-to-date of roughly 2.4% for the Nasdaq add to the tech-heavy index's best first half (up nearly 32%) in four decades. There are some new names on both the July leaders and July laggards list since we did this exercise looking at our January to June portfolio performance. July leaders HAL mountain 2023-06-30 Halliburton stock performance since June 30 close Oilfield services giant Halliburton (HAL) flips from a first-half loser (down 16%) to top our second-half winner. Month-to-date, HAL gained nearly 12%, a recent rally that we took advantage of Friday morning by booking in some profits. During our Monthly Meeting on Wednesday, we told mem...