Category Archives: Education

Hamilton fastest as Ericsson has fiery crash in France

Formula One world champion Lewis Hamilton was fastest for Mercedes in the first French Grand Prix practice in a decade on Friday with the session halted after Swedish driver Marcus Ericsson suffered a fiery crash.

Global crude oil prices rise as OPEC meets

LONDON: Oil prices rose more than 1 per cent on Friday as OPEC tried to agree a deal to increase output to compensate for losses in production at a time of rising global demand.

Benchmark Brent crude was up $1.05 a barrel at $74.10 by 0925 GMT. US light crude was 80 cents higher at $66.34. The Organization of the Petroleum Exporting Countries is meeting in Vienna together with non-OPEC oil producers to discuss output policy.

Saudi Arabia and Russia want to raise output, but some other OPEC members, including Iran, have opposed this.

Analysts expect OPEC to announce an increase in production of 500,000 to 600,000 barrels per day (bpd), which would help ease tightness in the oil market but would not be enough to create a glut.

“Any deviation from this figure is likely to generate a market response,” said Warren Patterson, commodities strategist at Dutch bank ING in Amsterdam. “A more relaxed policy will push Brent towards $70 a barrel, while restrictive measures will support crude oil back towards $80.”

Oil prices have been on a roller-coaster ride over the last few years, with the international marker, Brent, trading above $100 a barrel for several years until 2014, dropping to almost $26 in 2016 and then recovering to over $80 last month.

The most recent price rally followed an OPEC decision to restrict supply in an effort to drain global inventories. The group started withholding supply in 2017 and this year, amid strong demand, the market tightened significantly, triggering calls by consumers for higher supply.

Falling production in Venezuela and Libya, as well as the risk of lower output from Iran as a result of US sanctions, have all increased market worries of a supply shortage.

Another big uncertainty for oil is the escalating dispute between the United States and its trading partners, which could hit US crude oil exports to China.

Asian shares hit a six-month low on Friday as tariffs and the US-China trade battle start taking their toll. If a 25 per cent duty on US crude imports is implemented by Beijing, American oil would become uncompetitive in China, forcing it to seek buyers elsewhere.

Chinese buyers are already starting to scale back orders, with a drop in supplies expected from September.

“If China’s import demand dries up, more than 300,000 bpd of US crude will have to find a new destination,” energy consultancy FGE said.

Global crude oil prices rise as OPEC meets

LONDON: Oil prices rose more than 1 per cent on Friday as OPEC tried to agree a deal to increase output to compensate for losses in production at a time of rising global demand.

Benchmark Brent crude was up $1.05 a barrel at $74.10 by 0925 GMT. US light crude was 80 cents higher at $66.34. The Organization of the Petroleum Exporting Countries is meeting in Vienna together with non-OPEC oil producers to discuss output policy.

Saudi Arabia and Russia want to raise output, but some other OPEC members, including Iran, have opposed this.

Analysts expect OPEC to announce an increase in production of 500,000 to 600,000 barrels per day (bpd), which would help ease tightness in the oil market but would not be enough to create a glut.

“Any deviation from this figure is likely to generate a market response,” said Warren Patterson, commodities strategist at Dutch bank ING in Amsterdam. “A more relaxed policy will push Brent towards $70 a barrel, while restrictive measures will support crude oil back towards $80.”

Oil prices have been on a roller-coaster ride over the last few years, with the international marker, Brent, trading above $100 a barrel for several years until 2014, dropping to almost $26 in 2016 and then recovering to over $80 last month.

The most recent price rally followed an OPEC decision to restrict supply in an effort to drain global inventories. The group started withholding supply in 2017 and this year, amid strong demand, the market tightened significantly, triggering calls by consumers for higher supply.

Falling production in Venezuela and Libya, as well as the risk of lower output from Iran as a result of US sanctions, have all increased market worries of a supply shortage.

Another big uncertainty for oil is the escalating dispute between the United States and its trading partners, which could hit US crude oil exports to China.

Asian shares hit a six-month low on Friday as tariffs and the US-China trade battle start taking their toll. If a 25 per cent duty on US crude imports is implemented by Beijing, American oil would become uncompetitive in China, forcing it to seek buyers elsewhere.

Chinese buyers are already starting to scale back orders, with a drop in supplies expected from September.

“If China’s import demand dries up, more than 300,000 bpd of US crude will have to find a new destination,” energy consultancy FGE said.

Sri Lankan trio admit to breaching Level 3 offence

The Sri Lankan team management, including skipper Dinesh Chandimal, has accepted the ICC’s charge of acting against the spirit of the game by refusing to take the field in the second Test against the West Indies after a ball-tampering row.

Sri Lankan trio admit to breaching Level 3 offence

The Sri Lankan team management, including skipper Dinesh Chandimal, has accepted the ICC’s charge of acting against the spirit of the game by refusing to take the field in the second Test against the West Indies after a ball-tampering row.

PM Modi seeks double-digit GDP growth to get into $5 trillion economy club

NEW DELHI: Prime Minister Narendra Modi today spoke of targeting double-digit GDP growth for breaking into the $5 trillion economy club and said India’s share in world trade has to be doubled to 3.4 per cent.

Speaking after laying the foundation stone of a new office complex of the Ministry of Commerce here, he said his government has in four years taken steps to ease the process of doing business in India while maintaining macroeconomic indicators like current account deficit (CAD) within limits.

He said GDP growth touched 7.7 per cent in the last quarter of 2017-18 fiscal but now the time has come to look beyond 7-8 per cent growth and target double-digit expansion.

The world, he said, is watching as to when India will break into the $5 trillion economy club by doubling its economy.

Also, the government is targeting doubling India’s share in world trade to 3.4 per cent, he said, stressing on reducing dependence on imports in sectors like oil through domestic manufacturing.

Listing out achievements of his government, he said the country has moved away from a culture of delaying work through ‘atkana, latkana and bhatkana’ (obstructing, delaying and misguiding).

The Goods and Services Tax (GST), which replaced over a dozen indirect taxes from July 1 last year, has led to not just ease of doing business but also rise in tax base, he said.

Modi said 54 lakh new taxpayers have sought registration under the new regime, taking the number of indirect tax payers to over one crore.

This compares to 60 lakh indirect tax payers in the pre-GST era, the Prime Minister said.

Foreign direct investment inflows as well as foreign exchange reserves are at record highs, he added.

PM Modi seeks double-digit GDP growth to get into $5 trillion economy club

NEW DELHI: Prime Minister Narendra Modi today spoke of targeting double-digit GDP growth for breaking into the $5 trillion economy club and said India’s share in world trade has to be doubled to 3.4 per cent.

Speaking after laying the foundation stone of a new office complex of the Ministry of Commerce here, he said his government has in four years taken steps to ease the process of doing business in India while maintaining macroeconomic indicators like current account deficit (CAD) within limits.

He said GDP growth touched 7.7 per cent in the last quarter of 2017-18 fiscal but now the time has come to look beyond 7-8 per cent growth and target double-digit expansion.

The world, he said, is watching as to when India will break into the $5 trillion economy club by doubling its economy.

Also, the government is targeting doubling India’s share in world trade to 3.4 per cent, he said, stressing on reducing dependence on imports in sectors like oil through domestic manufacturing.

Listing out achievements of his government, he said the country has moved away from a culture of delaying work through ‘atkana, latkana and bhatkana’ (obstructing, delaying and misguiding).

The Goods and Services Tax (GST), which replaced over a dozen indirect taxes from July 1 last year, has led to not just ease of doing business but also rise in tax base, he said.

Modi said 54 lakh new taxpayers have sought registration under the new regime, taking the number of indirect tax payers to over one crore.

This compares to 60 lakh indirect tax payers in the pre-GST era, the Prime Minister said.

Foreign direct investment inflows as well as foreign exchange reserves are at record highs, he added.

Salah, Neymar, Messi, messy, messy: World Cup stars stifled

Aside from Cristiano Ronaldo, who has all four of Portugal’s goals in its two games, many of the biggest names are off to a shaky start in the 2018 World Cup.

FIFA World Cup: Brazil take on Costa Rica in search of first win

FIFA World Cup: Brazil take on Costa Rica in search of first win


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