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Oil rises back to $80 as supply concerns mount

Oil rose to around $80 a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Crude is trading at the highest since late 2014, underpinned by…

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India's steel output grows 4% to 8.59 MT in April

India’s crude steel production grew 4.4 per cent to 8.59 million tonne (MT) during April 2018, according to official data. The country had produced 8.22 MT during the same month a year ago, the Joint Plant Committee (JPC) said in…

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Local shipping rules eased for global lines

In the biggest policy reform yet in the shipping sector, the Centre has allowed foreign-flagged container ships to carry export-import laden containers for transhipment and empty containers for re-positioning on local routes without a licence or conditions. A Shipping Ministry…

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Dollar?s gain is EMs? pain

Strong dollar, firmer US yields, higher oil prices do not bode well for emerging market currencies, states report Business Insider. Having been under pressure since early 2017, the US dollar index (DXY), has reversed course in recent months. It?s now…

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Dr Reddy's Labs Q4 net falls 3% to Rs 302 cr

Drug firm Dr Reddy’s Laboratories today reported a 3.29 per cent fall in its consolidated net profit to Rs 302.2 crore for the fourth quarter ended March 31, 2018, mainly on account of continuing headwinds in the US. The company…

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?Google tax? revenue goes past Rs 1,000 crore

The ?equalisation levy? on online advertising fees paid by Indian customers to foreign companies like Google and Facebook is netting the government a tidy sum of money. The Centre?s EQL revenue in 2017-18 was over Rs 700 crore, much higher…

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Gold halts slide on jewellers' buying, global cues

Gold prices inched up by Rs 5 to Rs 31,880 per 10 grams at the bullion market today, halting its two-day slide on buying by local jewellers amid a firm trend overseas. Silver also reclaimed the Rs 41,000-mark by surging…

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