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Indian Oil buys Russian crude from non-sanctioned entities, sources say

NEW DELHI/SINGAPORE, Oct 31 (Reuters) – Indian Oil Corp, the country’s top refiner, has bought five cargoes of Russian oil for December arrival from non-sanctioned entities, traders said, resuming purchases despite pressure from Washington on India to stop buying Russian oil. Washington last week imposed sanctions on Rosneft and Lukoil, Russia’s two largest oil companies, stepping up efforts to pressure President Vladimir Putin to end the war in Ukraine. IOC’s head of finance, Anuj Jain, however, has said his company will continue to buy Russian oil if the barrels are in compliance with sanctions. The European Union, the UK and

PM lacks courage to confront Donald Trump over claims that US stopped India-Pak conflict: Rahul Gandhi

Nalanda/Sheikhpura (Bihar), Oct 30 (PTI) Congress leader Rahul Gandhi on Thursday claimed that Prime Minister Narendra Modi lacks the courage to confront US President Donald Trump over America’s assertion that it stopped the India-Pakistan conflict. Addressing a poll rally in Nalanda, Gandhi alleged that Bihar has now become synonymous with paper leaks and poor health infrastructure. “The US President has claimed several times that it was because of him, the conflict between India and Pakistan stopped….But, our prime minister does not have the courage to confront him,” the former Congress chief asserted. Criticising Home Minister Amit Shah for his comments

Gold falls Rs 1,000 to Rs 1,23,400/10g on Fed’s cautious tone, US-China trade progress

New Delhi, Oct 30 (PTI) Gold prices fell by Rs 1,000 to Rs 1,23,400 per 10 grams in the national capital on Thursday amid a firm dollar after the Federal Reserve hinted at a slower pace of rate cuts and progress in US-China trade talks. The precious metal of 99.5 per cent purity depreciated by Rs 1,000 to Rs 1,22,800 per 10 grams (inclusive of all taxes) from Wednesday’s close of Rs 1,23,800 per 10 grams, according to the All India Sarafa Association. In the local bullion market, gold of 99.9 per cent purity had settled at Rs 1,24,400 per

Rupee plunges 48 paise to close at 88.70 against US dollar

Mumbai, Oct 30 (PTI) The rupee depreciated 48 paise to close at 88.70 (provisional) against the American currency on Thursday on a strong US dollar, weak domestic markets, and a hawkish US Fed. Forex traders said the US Federal Reserve slashed interest rates by 25 bps in its Federal Open Market Committee (FOMC) meeting. However, Fed Chair Jerome Powell’s commentary was hawkish, trimming rate-cut expectations for December. Moreover, month-end dollar demand from Oil Marketing Companies (OMCs) and foreign fund outflows may also weigh on the rupee. At the interbank foreign exchange market, the rupee opened at 88.37, and later fell

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