The confused crude oil analyst
FinMach Dail
Where are crude oil prices headed? Analyst targets vary from $65 to $380 a barrel!
It is not common for analysts to agree on a price target for a commodity or a stock, but this time around, the targets for crude oil vary in between the wide range of $65 a barrel and $380 a barrel.
Last week, global brokerage firm JPMorgan shocked everyone as its report estimated that global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts.
And on Tuesday, Citigroup came out with a report saying that crude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits the global economy.
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Nod for 80 FDI proposals from China entities
India has approved 80 Foreign Direct Investment (FDI) proposals involving Chinese entities as on June 29, according to data accessed through Right to Information (RTI).
The government received 382 proposals from the Chinese in all for consideration since India imposed restrictions on investments from countries that share land border with it, Department for Promotion of Industry and Internal Trade (DPIIT) said in response to the RTI
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Re may face more heat as repayments worth $267 bn of $621 bn external debt come up
The rupee, which Tuesday fell to a new record low on unabated withdrawals by portfolio investors amid tightening global monetary conditions, could face further pressure as record external debt comes up for repayment through the course of this fiscal year and the next and India's trade gap widens.
More than 40%, or $267 billion worth of external debt of the total $621 billion, is due for repayment in the next nine months, the Reserve Bank of India data showed. This repayment is equivalent to about 44% of the India's foreign exchange reserves.
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Vivo in dock for 'misleading govt, banks', phone firm's execs likely to be summoned
The Enforcement Directorate (ED) raided at least 44 locations of Chinese smartphone manufacturer Vivo and entities linked to it as part of a money-laundering probe.
The agency will likely summon executives of the company after gathering evidence, people in the know said. The ED may also look at whether look-out circulars needed to be issued against any executives.
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