Retail

Petroleum dealers have written to the government flagging concerns over the increased pressure they are facing from state-owned oil marketing companies (OMCs) to restrict the sale of diesel at their outlets as more bulk consumers seek to take advantage of the relatively lower price at which the fuel is sold to retail buyers. “We have been advised to restrain sale to new customers and cater to only our existing customers,” Consortium of Indian Petroleum Dealers (CIPD) wrote to the oil industry coordinator in a letter, the contents of which were shared with The Hindu. “Fear of short supplies will cause panic,” CIPD President M. Narayana Prasad and General Secretary K. Suresh Kumar wrote, appealing to the companies not to ration fuel supplies. At the heart of the ‘diktat’ the CIPD has highlighted is a differential price - higher by as much as ₹25 per litre – that is charged to bulk diesel consumers such as transport corporations, private bus fleet operators, industries and … [Read more...] about Dealers say oil firms want them to curtail diesel, petrol sales

Investors should follow a 3-step process before making the pick Should I invest in this this covered bond? Should I go for the small cap AIF that my relationship manager suggested? How about this secured bond sold on a new platform that delivers 11%? When confronted with these questions on newer products that float in the market, our question to our investors is — how many investment products do you really need? If you’re expecting that I put a number to this, saying 3, 5 or 10 products, that’s not what I am suggesting. It is simply knowing whether you need a particular product for your specific situation and your time frame of investing. This can be done in three steps. The three steps The first is to decide whether you need regular income from your investment or you need your money to grow, or if you simply want to preserve your capital. Second, if you fix some time frame for each of your requirements, it will further help filter products. For example, you could decide … [Read more...] about How to choose an investment product

Many outlets belonging to Bharat Petroleum Corporation Limited have reportedly started to ration the sale of both petrol and diesel. And it is learnt the outlets belonging to Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL), may also follow suit in the next few days. But the pump owners confirm that the common man will not face any problem, as the oil marketing companies (OMCs) have reportedly instructed the outlets to ration or stop the supply to bulk purchasers such as APSRTC and industries. A fuel pump owner said that the OMCs were already making a loss to the tune of ₹28 per litre on diesel and ₹8 on petrol. The Russia-Ukraine war has seriously impacted the crude oil prices and they have gone up abnormally, he said. Because of this, the OMCs have increased the price per litre for industries by about 25%. Earlier, many industries used to buy fuel in bulk, including APSRTC, from the OMCs directly, but now owing to the increase in the rate … [Read more...] about ‘Rationing only for bulk purchasers’

Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains and offline and digital pharmacies. Adani Enterprises Ltd. - the group's business incubator firm - in a regulatory filing said a wholly owned subsidiary, Adani Health Ventures Ltd. (AHVL) was incorporated on May 17. AHVL will "carry on the business of healthcare-related activities, including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centres and to do all other allied and incidental activities in this regard," it said. AHVL, it said, will commence its business operations in due course. The group, which runs businesses from seaports to airports and energy, forayed into the cement sector through the acquisition of Swiss cement maker Holcim's India operations for a total of $10.5 billion. For its healthcare foray, the group … [Read more...] about After cement, Adani to foray into healthcare

Rupee dips to lowest ever 77.76 intraday before closing at 77.65 against dollar Key benchmark stock indices fell more than 2.6% Thursday on concerns around rising retail inflation and global growth, including in India. The rupee also came under pressure owing to dollar outflows in a falling equity market. It closed at an all-time low of 77.65 against dollar. The S&P BSE Sensex plunged 1,416.30 points, or 2.61%, to 52,792.23 led by a major sell-off in technology stocks. Stocks that decline the most were Wipro (6.21%), HCL Tech (6%), Tech Mahindra (5.49%), Infosys (5.46%) and TCS (5.17%). The NSE Nifty50 too slid 430.90 points, or 2.65%, to 15,809.40. “The recent earnings reported by U.S. retailers reflected the heat of high retail inflation, resulting in the rout on Wall Street,” said Vinod Nair, head of Research, Geojit Financial Services. “Persistent offloading by foreign investors, along with mounting fears of an economic slowdown wreaked havoc in the domestic … [Read more...] about Equity indices plunge 2.6% on inflation, global growth concerns

Planto, a Hong Kong-based online banking solutions provider, has partnered with Cogo, a New Zealand-headquartered carbon footprint tracking fintech firm, to develop a software for the city’s banks that encourages consumers and small businesses to cut their greenhouse gas emissions. The carbon footprint calculator that they have jointly developed will allow consumers and small businesses to see the carbon emissions associated with their daily spending or operations, and give them suggestions on how to lower their impact, executives told the Post . “People care more and want to know more about sustainability, but they don’t know what actions they can take to reduce their footprint. Our software is an enabler, at no cost to [consumers], to understand what their footprint is and what are some ways that they can take to [reduce] it,” said Julie Lindenberg, Cogo’s CEO in the Asia-Pacific region . Do you have questions about the biggest topics and trends from around the world? … [Read more...] about Hong Kong’s Planto ties up with New Zealand fintech firm Cogo to create awareness about sustainability, launch carbon footprint

VIENTIANE, May 22 (Vientiane Times/ANN): The Ministry of Industry and Commerce and the Lao Fuel and Gas Association are urging members of the public to be frugal in their use of fuel and not to travel unnecessarily, so that enough reserves of petrol are available for use for farming and other essential activities. Careful use of fuel is the only way to resolve the current shortage, they say. Some farmers have complained that they are unable to cultivate their crops because of the petrol shortage and have called on the relevant parties to take speedy action to tackle the crisis. Head of the Lao Petroleum Enterprise branch in Khammuan province, Vongsone Phimmavongsa, updated reporters in the province about the local situation with regard to fuel supplies. Khammuan is one of many provinces suffering from a lack of fuel, he said, and pumps at some petrol stations have run dry, meaning that many motorists are unable to use their vehicles. In some areas, petrol stations are open … [Read more...] about Laos government advise public advised to avoid unnecessary travel, to save fuel for agriculture

A bride who spent just £19 on her wedding dress has shown off the gown's impressive transformation after she customised it using recycled fabric and some deeply personal touches. Maranda Vandergriff got married in late 2020 and took to TikTok to share a video that detailed the process her dress went through from the moment she bought it up until the day she wore it to tie the knot with her husband. The woman, from the US, said she found the dress in a Goodwill thrift store for $24 (£19.50) before she was even engaged to her now-husband , and decided to pick it up anyway. When the pair then got engaged, she began working on customising the dress, including cutting off the sleeves and using lace fabric her mum had found in the UK to fashion new puffy sleeves - while keeping the original dress' cuffs. Get the news you want straight to your inbox. Sign up for a Mirror newsletter here. In her video, which was posted on her @marandavandy account, … [Read more...] about ‘I bought my wedding dress for £19 and transformed it into my dream gown on a budget’