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OPEC, OPEC+, Crude oil, Saudi Arabia, Iran crude oil

OPEC announces big cut in oil production

OPEC+ said on Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the Covid-19 pandemic, media reports said.

JP Morgan, Adani Buisnesses, Stress

JPMorgan declines to include India in widely-followed bond index

JPMorgan has declined to include India in a widely-followed bond index until at least next year after investors raised concerns about the domestic markets ability to handle the large volume of capital inflows expected to follow the move, a media report said.

Govt asks sugar mills to export speedily to make early payment to farmers

India emerges as the world’s largest producer, consumer of sugar

In sugar season (October-September) 2021-22, a record over 5,000 lakh metric tons (LMT) of sugarcane was produced in the country, out of which about 3,574 LMT was crushed by sugar mills to produce about 394 LMT of sugar (sucrose). Out of this, 35 LMT sugar was diverted to ethanol production, and 359 LMT sugar was produced by sugar mills.

PM Kisan, Sampada,

Centre modifies ECLGS to give Civil Aviation sector necessary collateral-free liquidity

The Centre has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 to 100 per cent of their fund based or non-fund based loan outstanding or Rs 1,500 crore, whichever is lower; and of the above, Rs 500 crore shall be considered, based on equity contribution by the owners.

23% of SMBs remain closed in India as pandemic wanes: Meta

A Meta (formerly Facebook) survey of small- and medium-sized business (SMB) leaders in India has revealed that 23 per cent of SMBs remain closed as the Covid-19 pandemic wanes, and the greatest challenge SMBs are facing now is the current state of the economy, including rising inflation.