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UAE’S ADNOC cuts official prices for all crude oil grades in August - Dotemirates

UAE’S ADNOC cuts official prices for all crude oil grades in August

Abu Dhabi National Oil Company (ADNOC) has cut prices for all crude grades in August to ensure that its oil remains competitive in Asia after its light grades traded at the widest discounts since 2015 last month. ADNOC set the August retroactive official selling price (OSP) for its benchmark Murban crude for sale to Asia at $75.05 per barrel, the company said on Wednesday. This puts the August Murban OSP’s premium to Dubai quotes at $2.56 a barrel, down 62 cents from the previous month. For Das, another light crude grade, the premium of its August OSP to Dubai quotes...


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Pulwama attack: India raises customs duty on Pak to 200 per cent

New Delhi: Initiating a trade war with Pakistan in a bid to retaliate to Pulwama terror attack, India on Saturday hiked customs duty on goods imported from Pakistan to 200 per cent. On Friday, India announced withdrawal of Most Favoured Nation (MFN) status to Pakistan. Finance Minister Arun Jaitley tweeted, "India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect. #Pulwama.” India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on...

First time in FY19, RBI becomes net buyer of dollars in Dec

Mumbai: The Reserve Bank has turned net buyer of dollars in December, first time in the current fiscal year, as it purchased USD 607 million of the greenback on a net basis from the spot market, according to the latest data. The central bank bought USD 837 million and sold USD 230 million in the spot market during the reporting month. As against this, in December 2017, the RBI was a net buyer of USD 5.647 billion, after it bought USD 6.008 billion from the market and sold USD 361 million. Between April and November 2108, the central bank had...

Finished steel exports fall 37 pc, imports grow 1.5 pc in Apr-Jan

New Delhi: The country's exports of finished steel fell 37.3 per cent to 5.15 million tonne (MT) in the April-January period of the current financial year, according to official data. The country had exported 8.22 MT of finished steel during the corresponding period a year ago, the Joint Plant Committee (JPC) said in its latest report. The imports of the total finished steel grew 1.5 per cent to 6.55 MT during April-January of 2018-18, compared with 6.45 MT in the year-ago period. During January this year, the exports stood at 0.47 MT, down by 22.8 per cent from 0.61 MT...

17/02/2019

The things you need to know about car insurance premiums

Have you ever wondered how a car insurance company calculates your insurance premium? According to a recent revision introduced by the UAE Insurance Authority, car insurance costs have been increased for vehicle owners. You may not know this, but there are a number of factors that influence the rate of your car insurance. While some of these factors may not be in your control, there are others that you can. Here are some factors that make up your car insurance premium.  Driver's age and experience: You may not know this, but one of the factors that influence your car insurance...
17/02/2019

Passengers seek flights after Flybmi ceases operations

Passengers stranded across Europe have told of their frustration after the UK regional airline Flybmi collapsed, cancelling all its flights.The company said uncertainty over Brexit and rises in fuel and carbon costs led it to go into administration.One Briton stuck in Belgium said the airline would not refund her fare and she could not afford an alternative.The airline has told affected travellers to contact their insurance and credit card companies. Flybmi, which is based near East Midlands Airport, operated 17 aircraft and flew to 25 European cities. Durham University student Mary Ward discovered her flight could be affected when her...

FPIs pour Rs 5,300 cr into equities in Feb so far

New Delhi: Foreign investors have put in over Rs 5,300 crore into the Indian equity market in the first half of this month, primarily on account of positive view on the Interim Budget 2019-20. The infusion into the equity market comes following a pull-out of Rs 5,264 crore by foreign portfolio investors (FPI) in January. According to the latest data available with depositories, a net sum of Rs 5,322 crore has been pumped into equities during February 1-15. However, FPIs pulled out a net amount of Rs 248 crore from the bond market during the period. This has translated into...