Sunday, September 06
Here is a look at how U.S. sanctions on Russian oil firms Rosneft and Lukoil, which take effect at 1701 GMT on Friday, may affect the Russian foreign currency market.Ahead of the deadline, the rouble was strengthening on reports about a U.S.-drafted plan to end the war in Ukraine, which if implemented, could mean the sanctions are cancelled.WHAT HAS BEEN HAPPENING ON RUSSIA'S FOREX MARKET?The market was hit last year by sanctions on Russia's main operator, the Moscow Exchange (MOEX), in June and on Russia's third-largest bank, Gazprombank, in November.Sanctions on MOEX stopped all exchange trade in dollars and euros. China's yuan, which is still trading on MOEX, has become the dominant foreign currency.Western currencies are since then traded over the counter through domestic dollar accoun
Four Labour Codes: India has entered a new labour era with the government implementing the Four Labour Codes -- the Code on Wages (2019), Industrial Relations Code (2020), Code on Social Security (2020), and Occupational Safety, Health and Working Conditions (OSHWC) Code (2020) -- marking one of the most sweeping workforce reforms since Independence.Calling it a “historic decision”, the Indian government said the move rationalises 29 existing central labour laws, simplifies a century-old regulatory framework and expands protections for hundreds of millions of workers. The implementation is effective 21 November 2025.Also Read: Four Labour Codes implemented in India in one of biggest workforce reformsSpeaking on the reform, Prime Minister Narendra Modi wrote on X: "Shramev Jayate! Today
Oil marketing companies (OMCs) are poised for a sharp rebound, with operating profits expected to surge more than 50 per cent to $18-20 per barrel this fiscal year, driven by stronger marketing margins amid stable retail fuel prices and supportive crude oil dynamics, Crisil Ratings said on Friday.OMCs earn from refining (gross refining margins or GRMs) and from marketing of petrol, diesel, and other fuels."This fiscal, the improvement in marketing margin will more than offset a moderation in refining margin owing to slow growth in global demand for fossil fuels as the world transitions towards cleaner energy sources," Crisil Ratings said in a note.Healthy profitability is set to bolster cash accruals to Rs 75,000-80,000 crore, compared with about Rs 55,000 crore last fiscal year. The stron
