South Asia

Vikas Kaushal, chairman of India's Hindustan Petroleum Corp Ltd, said that the refiner will increase the heavy oil processing in the new fiscal year starting April. Indian refiners are Consideration Importing Venezuelan crude oil, which is offered by Vitol or Trafigura as part of a U.S. mandated sale following Washington's capture of Venezuelan President Nicolas Maduro in the first half of this month. "We're trying to increase the flexibility of our system, as we have two new installations, which will allow us to process heavy crudes more efficiently,"?Kaushal said to reporters at the Indian Energy Week Conference, referring specifically to...

The price of oil fell on Tuesday, despite a major winter storm that hit the crude production in the U.S. Gulf Coast and affected refineries. Brent crude futures fell 28 cents or 0.4% to $65.31 per barrel at 0145 GMT. U.S. West Texas Intermediate Crude was $60.39 per barrel, down by 24 cents or 0.4%. Analysts and traders estimate that oil producers in the U.S. lost up to two million barrels of oil per day, or about 15% of the nation's production, over the weekend. This was due to a winter storm which swept through the country and put strain...

Trafigura, a trading house, sold a 'cargo' of Venezuelan oil, to a Spanish refiner. Vitol, a rival, was preparing to export Venezuelan fuel as shipments from the OPEC nation accelerated, according to oil industry sources. U.S. officials reported that Vitol, Trafigura and other companies obtained their first U.S. licensing to load and export Venezuelan crude oil earlier this month. Initial sales reached $500 million or approximately 11 million barrels last week, they said. U.S. officials said that other companies, such as U.S. giant Chevron, were waiting for Washington's exemptions from U.S. sanctions against Venezuela before expanding exports. According to industry...

Four sources with knowledge of the matter have confirmed that India's Reliance industries Ltd, the operator of the largest refinery in the world, will'receive' sanctions-compliant Russian crude oil between February and March, after a one month pause. Reliance received its last shipment of Russian crude in December, after it secured a U.S. concession allowing it to extend the deadline for ending business with Rosneft (a Russian oil company sanctioned by the U.S. government) beyond November 21. Sources said that Reliance, like other Indian refiners will purchase Russian oil from non sanctioned sellers. They did not elaborate on how many cargoes...

Trade data revealed that India's Russian imports in December fell to the lowest level since?two? years, as Western sanctions pushed refining companies to look for alternatives. This boosted OPEC?s?share?of imports?to an 11-month peak. The lower imports of Russian crude oil at a discounted price will likely hit the profits of refiners and consumers in the third largest oil consuming and importing nation in the world and force them to look for suppliers in the Middle East and the U.S. The data shows that tighter U.S. sanctions and European Union sanctions have slowed Russian oil exports to India. Imports dropped by...

India's stock indexes dipped on Tuesday as a decline in Reliance Industries?and profit taking in TCS and HCLT after the IT service?firms quarterly results weighed down on sentiment. As of 10:24 a.m. IST, the Nifty 50 dropped?0.1%?"to 25,766.7 while the Sensex fell 0.09%?to 83,803.86, Both benchmarks opened up about 0.4% higher. After declining for five straight sessions, they each rose by 0.4% on Monday as expectations grew about the India-U.S. Trade Talks regaining?momentum following a U.S. Envoy's statement that New Delhi would be discussing?trade matters in a phone call later that day. V.K. Vijayakumar, chief investment strategist at Geojit Investments....

British Columbia's Premier David Eby, who is on a six-day Indian trip, said that the province wants to strengthen its?commercial relations with India, particularly in the areas of liquefied gas, critical minerals, lumber, and technology. Both countries want to rebuild their trade ties following a two-year freezing and diversify supply chains as a reaction to U.S. Tariffs. "Unjustified tariffs from U.S.?impacting B.C. Eby said in an interview that it was more important than ever for workers and businesses to develop strategic relationships with international counterparts. The dates for the Canadian Premier Mark Carney's visit, which will continue until Saturday, have...

After meeting with Indian Prime Minister Narendra Modi, German Chancellor Friedrich Merz suggested that the European Union could sign a Free Trade Agreement with India as soon as this month. Merz, during a trip to Ahmedabad in western India, said that the presidents of the European Commission and European Council will travel to India to sign the agreement at the end 'January' if the deal is completed by then. Merz, who was visiting India for the first time since his appointment as chancellor, said that they would "in any case" take a major step to ensure this free-trade agreement is...

Germany is looking to work more closely with India on security matters, in order to reduce India's dependence on Russia. On Merz's maiden visit to South Asia, Merz signed a memorandum to this effect, along with agreements on critical minerals and the health sector, as well as an artificial intelligence innovation center. "India and Germany?work together to build resilient, secure and trusted supply chains. Modi said at a joint news conference that the?MoUs signed today will give a new'strength and momentum to our cooperation. India is still closely involved in the security policy of Russia, from where it gets much...

Investors were rattled by renewed worries?over U.S. Tariffs, which led to a fall in Indian equity benchmarks for the fifth straight session. The Nifty 50 dropped 0.75%, to '25,683.3. ', while the Sensex slipped 0.72%, to 83576.24. Each index lost around 2.5% for the week. 15 of 16 major sectors declined during the week. Small-caps fell by 3.1%, while mid-caps dropped 2.6%. According to Republican Senator Lindsey Graham, U.S. president Donald Trump has supported a bipartisan measure targeting countries that do business with Russia. The bill would impose tariffs of up to 500% on imported goods. India is 'the second...

Israeli Foreign Minister Gideon Saar, met with the President of Somaliland Tuesday. This was 10 days after Israel officially recognised the breakaway region of?the Horn of Africa' as a sovereign and independent state. Somalia has protested the move, saying that it is a threat to its sovereignty. A Somaliland source and regional diplomat have said other countries are preparing to follow their lead and'recognise Somaliland. U.S. U.S. Why is the location of Somaliland strategic? Somaliland is located at the intersection of the Indian Ocean, Red Sea and the Arabian Sea. Its Berbera Port provides access to the busiest shipping routes...

Reliance Industries, HDFC Bank and other heavyweight stocks weighed on the Indian equity benchmarks, which fell from near-record highs Tuesday. Quarterly business updates also influenced stock movements. The Nifty 50 dropped?0.27% at 26,178.7, and the Sensex fell 0.44% at 85,063.34. In two sessions, the indexes have fallen by 0.6% and 0.8%. Ten of 16 major sectors rose. The small-caps and the mid-caps both fell by 0.2%. Reliance Industries' stock, which is the second-heaviest on the benchmarks index, fell 4.5%. This was its steepest percentage drop in a single day since the announcement of the general election results for India, June...

India and the European Union concluded negotiations on the long-awaited Free Trade Agreement as both sides sought to soften the impact of the strained relations with the United States. The pact opens the way to?freer trade of goods and services' between India and the EU, which together represents a market with approximately 2 billion people. The following are the key details of this deal: BENEFITS TO EU EXPORTERS - Indian tariffs will 'fall to zero' on goods traded with EU immediately. Tariffs on 90% of EU exports will be reduced or eliminated EU firms can save up to $4.74 billion...

The Mines Ministry announced?on Tuesday that Zambia's copper output last year increased?8% due to higher output from?major mining operations. Africa's second largest copper producer, Africa's Copper, produced 890,346 tons of copper in 2025. This is up from the 825,513 tones that were produced last year, but still falls short of its target 1 million tons. The country plans to increase its copper production to 3 million tonnes by 2031 to meet the growing demand for copper used in electric cars and renewable energy infrastructure. Vedanta’s Konkola?Copper Mines was primarily responsible for the?rise in production last?year, with a fourfold increase, to...

On Monday, gold prices soared to record levels of $5,100 as investors sought refuge from the international political turmoil. Silver and platinum prices also reached new highs. By 11:37 am, spot gold had risen 1.9% to $5,076.43 per?ounce? After hitting a new record of $5,110.50, ET (1637 GMT), gold prices were up 1.9% to $5076.43. U.S. Gold Futures for February Delivery gained 1.9%, to $5 074.10. Gold prices are supported by the elevated level of geopolitical uncertainty and economic instability. Central banks continue to be strong buyers, as they diversify their foreign exchange reserves and decrease reliance on the U.S....

On Monday, gold?prices soared to a record high of $5,100 as investors sought refuge from the international political turmoil. Silver and platinum prices also reached all-time records. Spot gold was up 2% to $5,079.66 per ounce at 8:15 am. ET (1315 GMT), after reaching a record of $5,110.50. U.S. Gold Futures for February Delivery gained 2%, to $5 078.50. The dollar's weakness, which has remained near its multi-month low for the past few months, made dollar-priced asset more affordable to holders of other currencies. Adrian Ash, BullionVault's head of research, said that "Trump and Trump" will be the main drivers...

On Monday, gold surged above $5,100 per ounce, continuing a historic rally, as investors piled in to the safe-haven investment amid 'rising geopolitical uncertainty. Gold spot was up 2.2% to $5,089.78 an ounce at 0656 GMT after having earlier reached a record high of $5110.50. U.S. Gold Futures for February Delivery also gained the same amount, to $5.086.30 an ounce. The metal's price soared by 64% between 2025 and 2026, the biggest gain in a single year since 1979. This was due to safe-haven demands, a loosening of U.S. monetary policies, central bank purchases, including China's 14th consecutive month of...

Investors piled into gold, the safe-haven investment amid increasing geopolitical uncertainty. Gold spot rose 1.5% by 0544 GMT to $5,058.09 an ounce, after hitting a record high of $5.092.71 earlier. U.S. Gold Futures for February Delivery gained 1.6%, to $5.056.60 an ounce. The metal's price soared by 64%, its largest annual gain since 1979. This was driven by the demand for safe havens, a loosening of U.S. monetary policies, central bank purchases, including China's 14th consecutive month of purchasing in December, as well as record inflows to exchange-traded fund. The prices have increased by more than 17% in the last...

On Monday, gold surged above $5,000 per ounce to set a new record. Investors piled into the safe-haven investment amid escalating geopolitical tensions. By 2341 GMT, spot gold was up 0.85% to $5,024.95 per ounce, while U.S. futures for delivery in February rose 0.91%, reaching $5,024.60. Gold prices will soar 64% by 2025. This is due to sustained demand for safe havens, a easing of U.S. monetary policies, and robust central bank purchases. China extended its gold buying spree in December, as well as record inflows into exchange traded funds. Prices have risen by more than 16% in the past...

On Monday, gold reached a new record of $5,000 per ounce as investors continued to pile into the asset that is considered a safe haven amid increasing geopolitical tensions. By 2321 GMT, spot gold had risen 0.94% to $5,029.62 an ounce, while U.S. futures for delivery in February rose 1.02%, reaching $5,029.70. Independent analyst Ross Norman stated that "our forecast for the coming year is gold will reach a maximum of $6,400 per ounce, with an average price of $5,375." Gold's recent gains have been fueled by the escalating tension between the United States, NATO and Greenland. This is due...

Gold reached a new record high of $5,000 per ounce on Monday as investors continued to pile into the safe haven asset amid increasing geopolitical tensions. Spot gold increased 0.75% at $5,019.85 an ounce as of 2304 GMT. U.S. gold futures for delivery in February gained 0.84%, to $5.020.60 per ounce. Gold's recent gains have been attributed to the escalating tension between the U.S., NATO and Greenland. This is due to expectations of increased financial and geopolitical uncertainties. Independent analyst Ross Norman stated, "Our forecast for the year is gold will reach a high price of $6,400 per ounce, with...

An EU official stated that the European Union and Vietnam would strengthen their ties when Antonio Costa, President of the European Council, visited Hanoi on Thursday. Both sides are seeking to expand international partnership amid disruptions caused by U.S. Tariffs. Costa's visit coincides with To Lam's reappointment as Vietnam’s top official. This could make Costa the first major leader to meet Lam after the ruling Communist Party appointed him as general secretary on Friday. According to the official, who spoke on condition of anonymity, the elevation of ties from Vietnam's "lowest level" was planned for months, but it was delayed...

The price of silver rose to $100 an ounce on Friday for the first ever time, and gold reached a new record on its way to $5,000/oz. Investors are flocking into safe haven assets due geopolitical unrest and expectations that U.S. rates will be cut. Spot silver rose 4.05% at $100.1 per ounce as of 1547 GMT. Metal prices have risen by more than 200 percent in the last year. This is also due to ongoing challenges with scaling up the refining of the metal, and a persistent shortage on the market. Silver should benefit from the same forces that...

Investors booked profits after gold prices reached another record high of near $5,000 per ounce due to a?uncertain geopolitical outlook. Silver and platinum have also reached record highs. Spot 'gold' was steady at $4.935.39 per ounce at 1228 GMT. It had touched a record of $4.967.03 earlier that day. U.S. Gold Futures for February Delivery increased by 0.5% to $4.935.60 per ounce. Prices have increased by 14% in the first quarter of this year. This is partly due to concerns about President Donald Trump's threats to impose tariffs against European allies over Greenland. The removal of Trump’s tariff threats and...