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India gorging on cheap Russian crude may lead to export sanctions

Imports of Russian crude by India hit a record high in May, and will likely rise again in June

India weighs appellate panel to hear grievances for social media takedowns

India is considering whether to set up an appellate panel to hear grievances by social media users against operators' decisions to take down content

Small shoe firms in Agra squeezed by material costs, fading demand

Small firms, which employ about 110 million Indians and account for 45% of manufacturing, were hit the hardest

Oil skids $3 a barrel as investors take profits ahead of Opec+ meeting

The benchmarks have marched higher for several weeks as Russian exports are being squeezed by EU and US sanctions

Cotton rally squeezes Asian garment makers, threatens recovery from Covid

Losses have mounted for garment makers in Asia, among the region's top employers, with some smaller units suspending operations

Record renewables output helps coal shortage in May despite power demand

Surging supply from renewables will go some way towards mitigating India's coal shortage amid extraordinarily rapid growth in demand

Arbitration hearing set for January in Vedanta-Zambia copper mine dispute

Zambia's government accused Vedanta at the time of failing to honour licence conditions, including promised investment - accusations that Vedanta has denied.

US President announces new $700-million weapons package for Ukraine

Biden announced the plan to give Ukraine precision HIMARS rocket systems after receiving assurances from Kyiv that it would not use them to hit targets inside of Russian territory

Wall St slips 1% as strong factory data fans fears of aggressive rate hikes

Salesforce, Capri Holdings rise after lifting profit outlook; US 10-year Treasury yields spike to two-week high

Was 'wrong' about inflation path, says Yellen; Biden backs Fed's actions

US Treasury Secretary Janet Yellen said that she was wrong in the past about the path inflation would take, but said taming price hikes is President Joe Biden's top priority

Trolling and safety fears plague young women online, study finds

The report found that women aged 18-34 were more likely than any other group to report a negative overall impact on mental health

Gold prices edge up from 2-week low as inflation worries persist

By Seher Dareen

Oil prices strengthen on EU's Russian oil ban, end of Shanghai lockdown

Brent crude was up $1.83, or 1.6%, at $117.46 a barrel as of 11:56 a.m. EDT (1556 GMT). U.S. West Texas Intermediate crude gained $1.77, or 1.6%, to $116.45.

India lines up banks for e-commerce effort to take on Amazon, Walmart

The success of ONDC, which would promise equal access to all online sellers and buyers regardless of their size, is a priority for PM Modi

Let's get US interest rates to 2.5% as quickly as we can: Fed's Daly

The central bank is under pressure to begin to decisively curb overly high inflation, which is running at more than three times its 2% goal

Record renewable energy output helps India ease coal shortage in May

The share of renewable energy sources in power output rose to 14.1% in May from 10.2% in April. Coal made room for it, dropping to 72.4% of Indian generation from 76.8%

US rocket systems for Ukraine not meant to strike Russia: WH official

US President has agreed to provide Ukraine with rocket systems that can strike with precision at long-range Russian targets as part of a $700-mn weapons package expected to be unveiled on Wednesday

Gold, silver prices slip to two-week low as US yields, dollar rise

A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.

Oil prices firm up as EU agrees to Russian energy ban, China ends lockdown

Brent crude was up $1.71, or 1.5%, at $117.31 a barrel by 0817 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.67, or 1.5%, to $116.34.

Pvt refiners profit from cheap Russian crude, state refiners suffer: Report

While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year