Sunday, September 06
Shares of Reliance Industries Ltd (RIL) traded 0.22% higher on Friday after the oil-to-telecom conglomerate announced it has stopped processing Russian crude at its export-only refinery in Jamnagar, Gujarat, in full compliance with upcoming European Union sanctions.The move marks a significant shift for India’s largest importer of Russian oil and comes as the company fast-tracks its transition to non-Russian crude for all SEZ exports starting December 1.SEZ Refinery transition ahead of scheduleReliance, which operates the world’s largest single-site refinery complex in Jamnagar with a crude processing capacity of 1.4 million barrels per day and a complexity index of 21.1, said the transition has been completed ahead of schedule. “From 1 December, all product exports from the SEZ refi
The travel and tourism industry Thursday made a renewed pitch for 'industry status' in the upcoming budget, which will facilitate credit on lower interest rates for one the fastest growing service sectors.Industry representatives in the customary annual pre-budget session with finance minister Nirmala Sitharaman sought special incentives to promote lesser-known and emerging tourist destinations across the country.Sitharaman also met representatives of labour unions as a part of her pre-budget consultations.Industry also demanded that GST tax rates for restaurants which are part of the hotels that charge a tariff of ₹7500 or more per day be delinked from room tariffs.It pressed for simplification of visa policy, a single-window clearance system for hospitality projects, among others.
