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The Covid-19 pandemic is the biggest shock to global energy in more than seven decades, according to the International Energy Agency (IEA). The fall in demand in 2020 is set to dwarf the impact of the 2008 crisis, it said.
Moscow will propose a number of initiatives to mitigate the consequences of the pandemic, including in social and economic spheres, to the BRICS bloc member nations, Russian Foreign Minister Sergey Lavrov said on Tuesday.
He made the statement...
New Delhi has given the green light for small shops across India to open their doors under certain conditions, as the country begins to relax far-reaching lockdown measures brought to stop the spread of Covid-19.
Due to plummeting fuel demand and overflowing storage capacity, at least three oil refiners in India have asked for lower crude oil imports for May from the Middle East, including from the world’s top exporter Saudi Arabia.
Some shops and businesses opened in rural India on Monday as part of a staggered exit from a weeks-long lockdown that has left millions out of work and short of food. The development comes amid reports that coronavirus infections rose by more than...
Sharp contractions in gold imports by major consumers suggest gold jewelry demand is being battered, says investment research group Capital Economics, though it projects that safe-haven buying should ensure a near-term price rise.
The Covid-19 pandemic will likely slow South Asia’s once-bustling economies to the lowest level seen in decades, the World Bank has warned in its latest report.
With India set to extend the lockdown that was due to end next week in an effort to prevent the further spread of Covid-19, global consulting firm McKinsey & Co has warned that the measures could come at a great cost.
Brazilian President Jair Bolsonaro has thanked Indian PM Narendra Modi after New Delhi gave the nod to continue exporting ingredients for hydroxychloroquine (HCQ), stressing that the drug could save thousands of lives.