Top headlines: HUL splits chairman and CEO roles; oil rises above $105

Business Standard brings you the top headlines on Thursday

Hindustan Unilever separates position of Chairman and CEO & MD

Hindustan Unilever Ltd. announced plans to separate the roles of chairman and chief executive officer as Unilever Plc’s India unit seeks to boost governance standards.

Nitin Paranjpe, currently the chief operating officer of Unilever, will be taking over as the non-executive chairman of the Indian subsidiary, while Sanjiv Mehta will continue as the chief executive and the managing director, Hindustan Unilever said in an exchange filing Thursday. The change will be effective from March 31. Read more

Oil rises above $105 after Russia attacks Ukraine

Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia's attack on Ukraine exacerbated concerns about disruptions to global energy supply.

Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two. Read more

Russia-Ukraine conflict raises big risks for global economy

Just what a vulnerable world economy didn't need a conflict that accelerates inflation, rattles markets and portends trouble for everyone from European consumers to indebted Chinese developers and families in Africa that face soaring food prices.

Russia's attack on Ukraine and retaliatory sanctions from the West may not portend another global recession. The two countries together account for less than 2% of the world's gross domestic product. And many regional economies remain in solid shape, having rebounded swiftly from the pandemic recession. Read more

Uncertainties remain around India's medium-term debt trajectory: Fitch

Fitch Ratings on Thursday said India's economy is rapidly recovering from the pandemic but uncertainties remain around its medium-term debt trajectory.

In its report 'What Investors Want to Know: Indian Sovereign and Financial Institutions in 2022', it said financial institutions face an uneven recovery due to lingering asset-quality risks and capital limitations. Read more