You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Simmering oil jacks up import bill

DNMUM400824 | 11/15/2017 | Author : Edit | WC :233

DNA MONEY EDIT

Once again, the increasing crude oil prices have begun to jack up India’s import bill and the trade deficit, which is the difference between exports and imports. As per the commerce ministry data, trade deficit has widened to $14 billion during October as against $11.13 billion in October 2016, riding a 7.6% jump in the import bill (to $37.1 billion), especially the 27.9% year-on-year growth in oil bill to $9.2 billion. Crude prices have surged in the last two months after some oil-exporting countries triggered production cuts to drain the global oversupply.
Since India imports nearly 80% of its oil needs, fluctuation in global oil prices has an unavoidable impact on India. On an average a $1 increase annually in oil price can j
Read full story


Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

OnePlus 5T launched at `33K
DNMUM401046 | 11/18/2017 12:00:00 AM | Author : DNA Correspondent | WC :632

In a huge event in New York, OnePlus launched its latest smartphone — OnePlus 5T. With a 6-inch full-HD+ Optic AMOLED screen with an 18:9 aspect ratio and Corning Glass 5 on top, it’s a drastic improvement over the 16:9 ratio 5.5-inch screen on the O
Add To LightboxCalculate Price

Cellphone shipments to touch 262 mn units in India
DNDEL11820 | 11/18/2017 12:00:00 AM | Author : Karrishma Modhy | WC :271

Mobile handset vendors shipped 80 million mobile handset units in the third quarter this year and expect shipments to likely touch 262 million units by the end of fourth quarter, stated market research firm CMR.The report stated, since the begin

Add To LightboxCalculate Price

Apple update fixes iPhone X screens
DNDEL11821 | 11/18/2017 12:00:00 AM | Author : Karrishma Modhy | WC :224

Only a few days after Apple released iOS 11.1.1, the company has now released iOS 11.1.2, the 7th public release for users. This update primarily focuses on fixing problems associated with the iPhone X.The update is now available for download

Add To LightboxCalculate Price

Crude falls, Sensex rises 346 points
DNMUM400944 | 11/17/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :224

Mumbai: Dalal Street saw value-buying with benchmark indices notching up their biggest single-day gains since November 1. The BSE Sensex jumped 346.38 points, or 1.06%, to close at 33106.82 reclaiming the key 33000-mark. The index reversed its
Add To LightboxCalculate Price