
Oil prices have fallen more than 20% from their June peak, on weaker demand and ramped up output. So where does the price go from here, and who are set to be the winners and losers? Bloomberg's Tom Mackenzie reports.

Winners and losers in new age of cheap oil

The two-wheeler giant had only 14 per cent of the electric two-wheeler market in May this year, but its 26.8 per cent in December

The Competition Commission of India (CCI) has approved Murugappa family affiliate Mavco Investments and Avenue Capital Group's proposal to acquire Germany-based MHM Holding.
MHM Holding is the parent company of Hubergroup, a global player in the printing ink and chemicals industry. It has global footprint in growth markets such as Asia and India.
The New York-headquartered Avenue Capital Group through its arm, Avenue India Emergence Pte, while Mavco Investments, a private investment vehicle belonging to select members of the Murugappa family, is acquiring a stake in MHM Holding.
"Pursuant to the share purchase agreement (SPA) executed between MHM Beteiligungsgesellschaft mbH and MHM Vermogensverwaltungs GmbH (the sellers), Avenue and Mavco had agreed to be severally responsible to acquire 100 per cent of the shares in MHM Holding GmbH (target) from the sellers," a notice submitted with the CCI said.
Subsequently, Avenue and Mavco would incorporate a joint venture company (to be ...

MHM Holding is the parent company of Hubergroup, a global player in the printing ink and chemicals industry. It has global footprint in growth markets such as Asia and India

Xiaomi Pad 7 launching on Jan 10. Vivo Y29 5G smartphone launched. Ray-Ban Meta glasses with display. Apple iPad 11th generation launching early next year. Samsung Galaxy S25 Slim

The Reserve Bank on Thursday announced the setting up of an eight-member committee to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector.
Headed by IIT Bombay professor Pushpak Bhattacharyya (Department of Computer Science and Engineering), the panel will assess the current level of adoption of AI in financial services, globally as well as in India.
It will also review regulatory and supervisory approaches on AI with focus on the financial sector globally.
The panel will also identify potential risks associated with AI, if any, and recommend an evaluation, mitigation and monitoring framework and consequent compliance requirements for financial institutions, including banks, NBFCs, FinTechs, PSOs, etc.
The committee will recommend a framework including governance aspects for responsible, ethical adoption of AI models / applications in the Indian financial sector, the RBI said.
The other members of the panel are: .

The committee will recommend a framework including governance aspects for responsible, ethical adoption of AI models / applications in the Indian financial sector

The Union government on Thursday declared a seven-day mourning in honour of former prime minister Manmohan Singh, officials said here.
They said the Cabinet will meet at 11 am on Friday to pay tributes to him.
Singh's last rites will be conducted with full state honours, the officials added.
Manmohan Singh, the architect of India's economic reforms, died here on Thursday night at the age of 92. He was the prime minister during 2004-14.

Former prime minister Manmohan Singh, the architect of India's economic reforms, died here on Thursday night. He was 92

Months before he demitted office as prime minister in 2014, Manmohan Singh had famously asserted that his leadership was not weak and history would be kinder to him than what the media projected at that time.
Addressing a press conference here in January 2014, in what was one of his last media interactions, Singh had said, "I do not believe that I have been a weak Prime Minister ... I honestly believe that history will be kinder to me than the contemporary media or for that matter the Opposition in Parliament... Given the political compulsions, I have done the best I could do."
"...I have done as well as I could do according to the circumstances... It is for history to judge what I have done or what I have not done," Singh, who was the prime minister for 10 years till Narendra Modi took charge on May 26, 2014.
He was responding to a volley of questions regarding criticism that his leadership was "weak" and he was not decisive on many occasions.
Singh had also chosen the press ...

Singh, who was prime minister for two terms in the Congress-led UPA government from 2004 to 2014, had been in poor health for the last few months

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Winners and losers in new age of cheap oil

Oil prices have fallen more than 20% from their June peak, on weaker demand and ramped up output. So where does the price go from here, and who are set to be the winners and losers? Bloomberg's Tom Mackenzie reports.

Explore News