BUSINESS
Release of US oil inventories douse Crude prices
The price movement comes a day after the Russia-Ukraine war pushed Brent Crude Oil prices to $105 per barrel. Besides, Thursday was the first time since 2014 that crude oil prices crossed the $100 per barrel mark. On the NYMEX WTI index, crude oil prices surged by 5.50 per cent near $97.22 per barrel. Currently, Russia is one of the world's top producers of crude oil and any western sanctions against the country will stiffen the global supply.
Bitcoin helping Russia evade financial sanctions, Putin may legalise crypto
US President Joe Biden has announced new sanctions and limitations on what can be exported to Russia. The US will block five of the biggest Russian banks and freeze all assets they hold in America, worth over $1 trillion. Earlier, the UK Prime Minister Boris Johnson unveiled Britain's largest-ever package of sanctions against Russia, targeting banks and wealthy Russians.
Judge rejects Musk's request to force SEC back into court
Tesla CEO Elon Musk's request to force the Securities and Exchange Commission (SEC) into court to address his allegations about unpaid settlement funds has been denied by a federal judge. In a recent court filing, US District Judge Alison Nathan said it was "unclear" exactly what Musk was requesting, reports The Verge. The SEC responded that it was still developing a plan to allocate the funds, the report said.
Dwarka Expressway to drive startups and unicorns to Gurugram-NPR: Pankaj Bansal
The Rs 9,000 crore Dwarka Expressway Project is an access controlled expressway with a route alignment connecting Mahipalpur (Shiv Murti) in Delhi with Kherki Dhaula via New Gurgaon (Gurugram) in Haryana. It will feature 20+ flyovers and bridges, 2 rail over-bridges and underpasses, 11 vehicle underpasses, 20 underground pedestrian crossings, and a 2.5m wide cycle and bike path.
Indian equities rise further in afternoon trade; Sensex up around 1,400 pts
Thursday's sharp fall was triggered after Russia announced a military operation in Ukraine. Sensex settled 4.7 per cent or 2,702 points down at 54,529 points, whereas Nifty 4.8 per cent down, or 815 points down at 16,248 points. On Friday, at 12.55 p.m., Sensex was 2.6 per cent or 1,392 points up at 55,922 points, whereas Nifty 2.6 per cent or 421 points up at 16,669 points.
Nepal-India agrees to inject more investment in energy sector
In the meeting that started in Kathmandu on Wednesday and ended on Thursday, the two countries agreed to build more transmission lines, complete the transmission lines that are under construction and proposed new cross -country transmission lines, completion of Arun 3 hydropower project and energy export and import. As per the agreement reached at Nepal-India Energy Joint Meeting, a joint technical team will be formed to carry out the study as per the proposal made by India.
Elon Musk, his brother under US SEC probe for insider trading
The US Securities and Exchange Commission (SEC) has opened an investigation into Elon Musk and his brother Kimbal Musk for allegedly violating insider trading regulations with recent share sales. The Wall Street Journal reported that the regulator is investigating whether recent stock sales by the Tesla CEO and his brother "violated insider-trading rules".
Oil prices rise amid Russia-Ukraine tensions
The West Texas Intermediate for April delivery added 71 cents to settle at $92.81 a barrel on the New York Mercantile Exchange, after hitting a session high of $100.54. Brent crude for April delivery increased $2.24 to close at $99.08 a barrel on the London ICE Futures Exchange, after touching $105.77 earlier in the session.
NGT dismisses Tangedco's appeal on Rs 75 lakh fine
The Southern Bench of the National Green Tribunal (NGT) has dismissed a review petition filed by the Tamil Nadu Generation and Distribution Company (Tangedco) against its order of slapping a fine of Rs 75 lakh on the power company.
Bitcoin donations soar for Ukrainian army amid war with Russia
Come Back Alive, a Ukrainian NGO that raises crypto funds for the Ukrainian army, received more than $400,000 worth of digital tokens in the past day, according to data from blockchain and crypto analytics firm Elliptic. The average amount donated is around $1,000 to $2,000, and the group has received at least 317 individual donations in the past two days, reports Fortune.
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