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Russian frustration rises as fuel crisis bites

July 2 (Reuters) – In Russia’s grain belt, farmers fret they will not be able to harvest their crops as a fuel crisis sparked ​by Ukraine’s drone attacks on oil refineries and depots disrupts daily life. As Kyiv tries to pressure Moscow into ‌making peace with strikes on the country’s energy infrastructure, the resulting damage has squeezed oil-rich Russia’s fuel supplies, leading to restrictions in most regions and growing public disquiet. This has pushed drivers to crowd-source maps and trade tips about which stations have fuel and shorter lines. The shortage has also frayed ​tempers, with drivers shown in footage

Rupee rises 26 paise to 94.90 against US dollar in early trade

Mumbai, Jul 2 (PTI) The rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. Forex traders said the rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows, they said. At the interbank foreign exchange market, the

Stock markets rally in early trade as crude oil prices decline further

Mumbai, Jul 2 (PTI) Market benchmark indices Sensex and Nifty rallied in early deals on Thursday amid softening crude oil prices following positive development on the geopolitical front and buying in blue-chip IT stocks. The 30-share BSE Sensex climbed 377.40 points to 77,269.54 early trade. The 50-share NSE Nifty rallied 106.70 points to 24,113.25. “Qatar has stated that the latest round of indirect US–Iran talks has made ‘positive progress’, keeping hopes of a broader diplomatic resolution alive,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said. From the Sensex pack, Infosys, HCL Tech, Tata Consultancy Services,

Microsoft partners with Singapore’s Lightstorm to build India-Southeast Asia undersea cable

July 2 (Reuters) – A consortium including Microsoft and telecom startup Lightstorm plans to build a new undersea cable linking India with Malaysia and Singapore ​as technology firms compete to expand AI and cloud infrastructure ‌in India, one of the world’s fastest-growing data markets. The consortium, whose other members include Tata Communications, Singapore Telecommunications, Singapore’s ASEAN Cableship and Japan’s NEC Corporation, will construct ​the I-2SEA cable to support AI, cloud and hyperscale workloads, ​the companies said on Thursday. They did not provide additional details ⁠including the investment size. The network will span 3,600 km and have landing ​stations in Machilipatnam

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