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OECD Report Highlights Global Economic Challenges Amid Middle East Conflict

OECD Report Highlights Global Economic Challenges Amid Middle East Conflict

The Organisation for Economic Co-operation and Development (OECD) has released its interim Economic Outlook report, which highlights significant challenges facing the global economy due to ongoing conflict in the Middle East. The report notes that disruptions in energy shipments through the Strait of Hormuz and damage to energy infrastructure have led to a surge in energy prices. This situation is exacerbating inflationary pressures and affecting global supply chains, particularly in energy and commodities like fertilizers. The OECD projects that these disruptions will weigh on demand and increase costs globally. Additionally, the report provides growth forecasts for major economies, with India expected to remain the fastest-growing major economy with a GDP growth rate of 7.6% for 2025-26. In contrast, China's growth is projected to slow down due to various internal economic adjustments.
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Factories faced weaker demand, higher costs in July as Iran war grinds on

Factories faced weaker demand, higher costs in July as Iran war grinds on

By Jonathan Cable LONDON, Aug 3 (Reuters) - Manufacturing activity in China slowed in July as the 5-month-long war in the Middle East delivered weaker demand and elevated costs for the exporting powerhouse — a situation mirrored across much of Europe — surveys showed on Monday.
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Russia Utilizes Arctic Route to Bypass Global Shipping Tensions

Russia Utilizes Arctic Route to Bypass Global Shipping Tensions

Russia has assembled a large convoy of oil tankers in the Arctic, utilizing the Northern Sea Route to expedite crude exports to Asia. This strategic move comes amid geopolitical tensions affecting traditional shipping routes, such as the Strait of Hormuz and the Red Sea. The convoy, consisting of Suezmax, Aframax, and Medium Range tankers, is navigating the ice-covered route with the assistance of nuclear icebreakers. This year's Arctic navigation season has seen a significant increase in oil shipments compared to previous years, as Russia seeks to maximize exports before the route becomes impassable due to ice.
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Parliamentary Panel Proposes New Framework for Foreign Companies to Re-domicile in India

Parliamentary Panel Proposes New Framework for Foreign Companies to Re-domicile in India

Parliamentary Panel Proposes New Framework for Foreign Companies to Re-domicile in India
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Noel Tata Advocates for Increased Investment in Indian Education Sector

Noel Tata Advocates for Increased Investment in Indian Education Sector

Noel Tata Advocates for Increased Investment in Indian Education Sector
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Indian Government Restructures Ministry of Housing and Urban Affairs

Indian Government Restructures Ministry of Housing and Urban Affairs

The Indian government has restructured the Ministry of Housing and Urban Affairs, dividing it into two specialized verticals focusing on capital development and urban development. This overhaul includes replacing senior bureaucrats and appointing new leadership to drive the ministry's flagship missions. The restructuring aims to streamline service delivery and accelerate infrastructure projects, reflecting the government's commitment to urban development.
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Grant Thornton Bharat Highlights India's Samudra Manthan Scheme for Oil and Gas Exploration

Grant Thornton Bharat Highlights India's Samudra Manthan Scheme for Oil and Gas Exploration

Grant Thornton Bharat Highlights India's Samudra Manthan Scheme for Oil and Gas Exploration
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OECD Panel Warns of Global Growth Slowdown Amid Middle East Conflict and Energy Shock

OECD Panel Warns of Global Growth Slowdown Amid Middle East Conflict and Energy Shock

The Organisation for Economic Cooperation and Development (OECD) has issued a warning regarding the global economic outlook, highlighting a slowdown in growth due to ongoing conflicts in the Middle East. The OECD's interim Economic Outlook report indicates that disruptions in energy supply, particularly through the Strait of Hormuz, have led to a surge in energy prices. This has been compounded by damage to energy infrastructure, which is affecting the global supply of energy and other commodities like fertilizers. These disruptions are contributing to increased costs, reduced demand, and heightened inflationary pressures worldwide. The report also notes that while India is projected to remain the fastest-growing major economy with a GDP growth rate of 7.6% for 2025-26, other major economies like China are expected to see a slowdown in growth due to various internal and external factors.
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Government Defends Ethanol Blending Program Amid Criticism

Government Defends Ethanol Blending Program Amid Criticism

The Indian government has defended its ethanol blending program, stating that it has helped keep petrol prices lower despite global crude price spikes. According to the petroleum ministry, the blending of domestically produced ethanol into auto fuel has resulted in significant savings for consumers, with petrol prices in Delhi being Rs 94.77 per litre instead of Rs 125. The ministry addressed concerns about the program's impact on food security and taxpayer subsidies, rejecting claims that food grains meant for the poor were being diverted for ethanol production. The government maintained that the program has shielded retail fuel prices from global fluctuations.
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Coal India Reports 8.4% Production Growth in July 2026, Supplies Hit Record Levels

Coal India Reports 8.4% Production Growth in July 2026, Supplies Hit Record Levels

Coal India Reports 8.4% Production Growth in July 2026, Supplies Hit Record Levels
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Tata Electronics Advances Domestic Semiconductor Manufacturing to Reduce Import Reliance

Tata Electronics Advances Domestic Semiconductor Manufacturing to Reduce Import Reliance

Tata Electronics Advances Domestic Semiconductor Manufacturing to Reduce Import Reliance
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Tata Group Plans Major Investments in Technology, Energy, and Aviation for FY26

Tata Group Plans Major Investments in Technology, Energy, and Aviation for FY26

Tata Group Plans Major Investments in Technology, Energy, and Aviation for FY26