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India’s May oil supply from UAE tops pre-war levels as imports rise, data shows

NEW DELHI, June 18 (Reuters) – India’s oil imports from the United ‌Arab Emirates rose above levels seen before the Iran war to a multi-year high in May, while supply from Russia, Venezuela and Angola also increased, data from industry sources showed. Overall crude imports by the world’s third-largest oil importer ​and consumer rose to 5.27 million barrels per day, up 15.4% from April, the ​data showed, with Russia the largest supplier. The UAE became India’s second-largest oil supplier, ⁠with imports rising nearly 41% to 942,500 bpd in May, the first full month after ​the Gulf producer’s exit from OPEC,

Indian money in Swiss banks dips to Swiss franc 3.25 bn; customer deposits up

New Delhi/Zurich, Jun 18 (PTI) Indian money parked in Swiss banks fell by over 8 per cent in 2025 to 3.25 billion Swiss franc (nearly Rs 36,793 crore) due to a fall in funds held through local branches and other financial institutions, annual data released by Switzerland’s central bank showed on Thursday. However, money in customer accounts of individual and institutional clients rose sharply by over 50 per cent in the year to 524 million Swiss franc (nearly Rs 6,000 crore), though it accounted for just about 16 per cent of overall funds. The bulk of the total funds was

Gold slides Rs 960 to Rs 1.53 lakh/10 g; silver sinks Rs 6,660 as demands ebb on firm equities, rupee

New Delhi, Jun 18 (PTI) Gold prices fell for the third straight session, sliding by Rs 960 to Rs 1.53 lakh per 10 grams in the national capital on Thursday, while silver slumped by Rs 6,660 as the precious metals lost their safe-haven appeal amid a rally in stock markets. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity declined by Rs 960 to Rs 1,53,440 per 10 grams (inclusive of all taxes) from Wednesday’s closing level of Rs 1,54,400 per 10 grams. Silver also witnessed heavy selling pressure, plunging by Rs 6,660 to

India’s thermal coal imports drop to 4-year low as green power rises

NEW DELHI, June 18 (Reuters) – India’s thermal coal imports fell to a 4-year low in January-May due to higher local ​output and rising renewable energy generation, commodities consultancy BigMint said. Overall, ‌thermal coal imports, at 65 million tons in the year till May, declined by an annual 12%, the consultancy said. India, the world’s second-largest importer of thermal ​coal, has been seeking to reduce its reliance on ​imports and aims to cut the use of such coal for ⁠power generation by at least 30% this year. The country’s top ​producer, Coal India had asked its subsidiaries to ramp up

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