Rakesh Sharma

2 weeks ago | news.bloomberglaw.com | Rakesh Sharma |Ruchi Bhatia

A slump in crude oil prompted India to increase taxes on diesel and gasoline, a move that will help the government shore up its revenue. There will not be any change in retail fuel prices as local refiners will absorb the hike, Oil Minister Hardeep Puri told reporters. “They are in the pink of health. They will do well,” he said in New Delhi on Monday.

2 weeks ago | bloomberg.com | Rakesh Sharma |Ruchi Bhatia

Supply Lines is a daily newsletter that tracks global trade. Sign up here. India increased taxes on diesel and gasoline by 2 rupees a liter beginning Tuesday, a step that will help boost its revenue amid falling global crude oil prices.

2 weeks ago | flipboard.com | Rakesh Sharma |Ruchi Bhatia

3 hours ago'Hard to believe that U.S. thinks it has the labor strength to manufacture shoes and apparels': EconomistAxis Capital's Neelkanth Mishra, says the proposed US tariffs on India may not have a significant direct impact on the economy, but the second-order …2 hours agoAfter Trump, EU seeks zero tariff from India on car imports, sources sayThe European Union wants India to eliminate tariffs on car imports under a long-pending trade deal and Prime Minister Narendra Modi's government is …

2 weeks ago | bloomberg.com | Weilun Soon |Rakesh Sharma

A cargo of Russian crude that was on a ship rejected by Indian port authorities is now being transferred to another tanker, ship-tracking data show, a sign of how traders are finding ways to skirt regulatory hurdles to keep sensitive freight moving. The Honduras-flagged Andaman Skies is now in the midst of moving its 767,000 barrels of Russian arctic crude to Ozanno, which sails under the flag of Sao Tome and Principe, according to ship-tracking platform Kpler.

2 weeks ago | flipboard.com | Weilun Soon |Rakesh Sharma

9 hours agoThe owners of a container ship have filed a legal claim against the owners of a tanker that it struck in a crash in the North Sea. The Stena Immaculate, a US-registered tanker carrying aviation fuel, was anchored 16 miles (26km) off East Yorkshire when it was hit by the Portuguese-flagged Solong on …