Russian crude oil cargoes swing back to India as Iran war hits supply

Russian crude oil cargoes swing back to India as Iran war hits supply


Two Russian oil cargoes that had been signalling East Asia as a destination have switched to India, according to ship-tracking data, suggesting New Delhi is becoming more willing to take the crude as the Middle East conflict worsens. 

Two tankers carrying around 1.4 million barrels of Urals oil combined are expected to discharge at Indian ports this week, after previously indicating that they were headed farther east, data from Kpler and Vortexa show. Urals, which loads in the Baltic and Black Seas, was previously very popular with Indian refiners, but flows have slowed sharply this year due to US pressure on New Delhi to stop buying it.

The Odune, a Suezmax carrying 730,000 barrels, arrived at Paradip port on Wednesday, data and port agent’s reports show, although it’s unclear if it’s discharged yet. Matari, an Aframax with more than 700,000 barrels, will reach Vadinar in western India on Thursday.

Indian refiners — wary of complicating trade talks with Washington — had pared back their purchases of Russian oil in recent weeks, which had forced Moscow to seek buyers in China. However, the war in the Middle East and the effective closure of Strait of Hormuz are now raising the prospect of crude shortages, and processors in the South Asian nation appear to be turning back to Russian barrels.

More changes of destination may follow. Indri, a Suezmax in the Arabian Sea that’s signaling it’s heading to Singapore made a sharp turn north this week toward India with about 730,000 barrels of Urals on board, ship-tracking data show.

All three vessels — Odune, Matari and Indri — were sanctioned by the UK and the European Union last year. 

Global Ship Solutions LLC, which is based in Azerbaijan and listed as Odune’s manager on database Equasis, didn’t immediately respond to an emailed request for comment. There were no contact details for its Hong Kong-based owner, Sylvarn Fleetline Ltd.

Matari’s manager, Anchor Elite Shipmanagement, which is also registered in Azerbaijan, didn’t immediately respond to an emailed request for comment. Contact details for its owner Oasis Bloom Corp couldn’t be found.

There were no email or telephone numbers listed for Indri’s owner Veyronda Seaborne Ltd. in Hong Kong and manager Stellar Ship Solutions LLC in Azerbaijan.

More stories like this are available on bloomberg.com

Published on March 5, 2026



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बुरा फंसा मल्टीबैगर रिटर्न देने वाला शेयर, कंपनी को IT से मिला 327 करोड़ का नोटिस

बुरा फंसा मल्टीबैगर रिटर्न देने वाला शेयर, कंपनी को IT से मिला 327 करोड़ का नोटिस


Polycab Shares: देश की बड़ी वायर कंपनी पॉलीकैब इंडिया (Polycab India) को इनकम टैक्स डिपार्टमेंट (आयकर विभाग) से 327.45 करोड़ रुपये का नोटिस मिला है. इसके चलते आज पॉलीकैब के शेयर दबाव में रहेंगे. पॉलीकैब के शेयरों ने बीते तीन साल में 170 परसेंट और पांच साल में 513 परसेंट का मल्टीबैगर रिटर्न देकर निवेशकों को मालामाल कर दिया है.

बुधवार को यह 8548.40 रुपये के पिछले बंद भाव के मुकाबले 3.09 परसेंट गिरकर 8283.95 रुपये पर बंद हुआ. इस दौरान कंपनी के 0.14 लाख शेयर बिके, जिसका टर्नओवर 11.28 करोड़ रुपये का रहा. इसी के साथ कंपनी का मार्केट कैप 1.24 लाख करोड़ रुपये रह गया. 

क्यों मिला नोटिस? 

कंपनी को यह नोटिस इसलिए भेजा गया क्योंकि आयकर विभाग ने अपनी जांच में पाया गया कि कंपनी को हुई कमाई में लगभग 41.87 करोड़ रुपये के खर्च को अस्वीकार कर दिया गया है. यानी कि कंपनी ने टैक्स कम देने के खातिर बैलेंस शीट में अपने कुछ खर्चों को दिखाया था, जिसे आयकर विभाग ने जायज न मानते हुए Reject कर दिया है.

कंपनी को यह नोटिस असेसमेंट ईयर 2024-25 के लिए मुंबई के डिप्टी कमिश्नर ऑफ इनकम टैक्स की तरफ से मिला है. कंपनी का कहना है कि इस डिमांड नोटिस में कैलकुलेशन संबंधी गड़बड़ियां हैं. कंपनी के मुताबिक, वास्तविक अस्वीकृति (Disallowances) केवल 41.87 करोड़ की है, जिसे बढ़ाकर 327.45 करोड़ कर दिया गया है. इस खबर के बाद बुधवार को पॉलीकैब के शेयरों में 3-3.2 परसेंट की गिरावट देखी गई. 

कंपनी ने क्या कहा?

कंपनी ने इस नोटिस के खिलाफ सुधार आवेदन (Rectification Application) दाखिल करने और ऊपरी अधिकारियों के पास अपील करने की बात करेंगे. कंपनी को उम्मीद है कि इस अपील के बाद डिमांड नोटिस में काफी कमी आ जाएगी.

पॉलीकैब ने कहा, “इनकम टैक्स अथॉरिटी ने इनकम टैक्स एक्ट, 1961 के सेक्शन 143(3) के तहत पास किए गए असेसमेंट ऑर्डर के जरिए कुल 41.87 करोड़ रुपये की कुछ डिसअलाउंस और एडिशन किए हैं. उस ऑर्डर के मुताबिक, एक्ट के सेक्शन 156 के तहत जारी डिमांड नोटिस के जरिए 327.45 करोड़ रुपये की डिमांड की गई है.”

पॉलीकैब ने आगे कहा, “कंपनी ने अपने टैक्स एडवाइजर्स से सलाह करके पाया किया इस राय पर कुछ कम्प्यूटेशनल/क्लेरिकल गलतियों की वजह से की गई डिमांड असेसमेंट ऑर्डर में किए गए एडिशन से ज्यादा है, जिन्हें एक्ट के सेक्शन 154 के तहत ठीक किया जा सकता है इसलिए कंपनी ने जूरिस्डिक्शनल असेसिंग ऑफिसर के सामने सुधार के लिए एप्लीकेशन फाइल करने का प्रोसेस शुरू कर दिया है.”

डिस्क्लेमर: (यहां मुहैया जानकारी सिर्फ़ सूचना हेतु दी जा रही है. यहां बताना जरूरी है कि मार्केट में निवेश बाजार जोखिमों के अधीन है. निवेशक के तौर पर पैसा लगाने से पहले हमेशा एक्सपर्ट से सलाह लें. ABPLive.com की तरफ से किसी को भी पैसा लगाने की यहां कभी भी सलाह नहीं दी जाती है.)

ये भी पढ़ें:

पैसों का कर लें बंदोबस्त, मार्केट में धाकड़ IPO की होगी एंट्री; कंपनी ने सेबी के पास जमा कराया DRHP 



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US lawmakers raise security concerns about Intel's testing of tools from China-linked firm

US lawmakers raise security concerns about Intel's testing of tools from China-linked firm


FILE PHOTO: An Intel logo and a computer motherboard appear in this illustration taken August 25, 2025.
| Photo Credit:
Dado Ruvic

A bipartisan group of US lawmakers led by Democratic Senator Elizabeth Warren ​and Republican Tom Cotton on Wednesday raised national security concerns over Intel’s testing of chipmaking ‌tools made by ACM Research, as first reported by Reuters.

ACM Research, ​California-based producer of chipmaking equipment, has deep roots in China ⁠and two overseas units that were targeted by US sanctions. Its customers include sanctioned Chinese companies such as YMTC and SMIC, sparking questions over whether ACM could pass sensitive information ‌from Intel to Chinese customers, the lawmakers said.

“By operating in Intel’s facilities, ACM could gain exposure to cutting-edge chipmaking processes that may ‌materially improve the quality and competitiveness of ACM and Chinese military companies,” the ‌lawmakers ⁠said in a letter to Intel CEO Lip-Bu Tan dated ⁠Wednesday.

Intel said in a statement that “ACM tools are not used in Intel’s semiconductor production processes,” adding that the company fully complies with US laws and regulations and engages regularly with the US ​government on security matters.

ACM did ‌not immediately respond to a request for comment for this story.

The company previously said it could not comment on “specific customer engagements,” but said it has disclosed the shipment of three tools to a “major US-based semiconductor manufacturer,” ‌which are being tested and some have met performance standards.

ACM said previously ​that it does not pose a national security threat, noting that its US operations are “bifurcated and isolated” from the sanctioned Shanghai-based ⁠unit, adding that US customers are supported directly by US personnel, with robust safeguards to protect customer trade secrets.

The Chinese Embassy in Washington did not immediately respond ‌to a request for comment.

The letter, also signed by Democrats Elissa Slotkin and Andy Kim as well as Republicans Jim Banks and Pete Ricketts, is a sign of bipartisan concern about China’s growing role in US semiconductor manufacturing.

The House Selection Committee on China said in October it has “reviewed with concern reports that ACM Research … has sold (semiconductor manufacturing equipment) to a semiconductor manufacturer with US ‌operations that also formally certified ACM Research’s tools for use in its production line.”

The ​lawmakers on Wednesday also noted that Intel, which fended off calls for its CEO’s resignation from US President Donald Trump in August over ⁠his alleged ties to China, faces unique responsibilities, since the US government now ⁠owns a stake in it.

“This raises important questions about Intel’s fiduciary responsibility and approach to safeguarding the public interest, including how the company benefits ‌American economic interests and taxpayers,” they wrote.

“Intel’s entanglements with blacklisted Chinese companies calls into question whether taxpayer dollars are subsidising activities that could directly threaten ​US national security and leadership in semiconductor manufacturing,” they added.

Published on March 5, 2026



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Sensex falls 1,122 points as Operation Epic Fury drives crude surge and global selloff

Sensex falls 1,122 points as Operation Epic Fury drives crude surge and global selloff


Fears of rising crude oil and gas prices, particularly with Brent nearing $85 per barrel amid concerns over the Strait of Hormuz, weighed heavily on sentiment.
| Photo Credit:
iStockphoto

Markets endured a brutal session on Wednesday as escalating hostilities under “Operation Epic Fury” involving the US, Israel and Iran triggered a broad risk-off selloff. Though the markets made a late-hour recovery due to a positive opening in European stocks, it was not enough to change the broad sentiment. Fears that the war could further pressure India’s macro through higher crude oil and gas prices and choked sentiment, said analysts.

After hitting a low of 78,443.20 by shedding nearly 1,800 points, the BSE Sensex recovered to close at 79,116.19, with a fall of 1,122.66 points. The Nifty 50 shed 385.20 points, to end at 24,480.50, recovering from the day’s low of 24,305.40.

FIIs rush for exit

Foreign portfolio investors pulled out another ₹8,752.65 crore worth of shares on Wednesday, even as domestic institutions bought aggressively for ₹12,068 crore.

Volatility meter spikes

The fear gauge, India VIX, surged 22.6 per cent to 20.83 — its highest since May 2025 — as Brent crude pushed toward $85 per barrel amid fears of disruption to the Strait of Hormuz.

Energy supply worries

According to Kotak Securities, while a prolonged shutdown appears unlikely, even a disruption lasting a few weeks could cause significant market dislocation. “Early signs of stress are already visible. Qatar, one of the world’s largest LNG exporters, has reportedly shut its LNG plants, exacerbating concerns over supply continuity,” it said in a note..

Broader markets bleed

Broader markets were hit harder. The Nifty Next 50 tumbled 2.70 per cent, the Nifty Midcap 100 fell 2.16 per cent, and the Nifty Smallcap 100 slipped 2.11 per cent. Nifty Bank dropped 1.81 per cent to 58,755.25. Except for Nifty IT, all other indices closed in the red, with Metal being the hardest hit, falling 3.99 per cent, followed by Nifty PSU Bank (3.24 per cent), Realty (3.11 per cent) and Nifty Oil & Gas (3.09 per cent). Nifty IT was the sole gainer, up a modest 0.11 per cent, buoyed by the rupee’s slide.

Global selloff tremors

Ponmudi R, CEO of Enrich Money, captured the global context: “…South Korea’s KOSPI plunged nearly 12 per cent, triggering circuit breakers, while Thailand’s SET index declined over 8 per cent, highlighting the intensity of the global risk aversion.”

On the Nifty 50, only four stocks ended in the green.

.

Published on March 4, 2026



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Trump likely to raise global import tariff to 15% this week, says Treasury Secretary

Trump likely to raise global import tariff to 15% this week, says Treasury Secretary


The Trump administration is set to increase its temporary global import tariff to 15% from 10%, according to US Treasury Secretary Scott Bessent.
| Photo Credit:
Jonathan Ernst

U.S. Treasury Secretary
Scott ‌Bessent said on Wednesday that ​an increase in President
Donald ⁠Trump’s new temporary global import tariff to 15% from
10% was likely to ‌be implemented sometime this week.
The new tariff rate ‌was announced by Trump ‌in ⁠late February
after the Supreme ⁠Court struck down his previous global tariffs
under a national emergencies law. He initially ​imposed the
150-day ‌tariffs under Section 122 of the Trade Act of 1974 at a
lower 10% rate.

“That’s likely ‌sometime this week,” Bessent said ​on CNBC of
the 15% rate order from Trump.

“During ⁠the 150 days, we will see studies from USTR on
Section 301, ‌tariffs from Commerce on Section 232,” he said,
referring to other tariff authorities that have withstood court
challenges.

He said the effort to rebuild Trump’s tariff ‌program under
these authorities would bring U.S. duty ​rates back to their
prior levels within five months.

“They ⁠are slow moving, but they are ⁠more robust,” Bessent
said of the Section 232 national security-based ‌tariffs and the
Section 301 unfair trade practices tariffs.

Published on March 4, 2026



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Andhra Pradesh CM Naidu alleges scale of liquor scam could be as high as 10,000 cr

Andhra Pradesh CM Naidu alleges scale of liquor scam could be as high as 10,000 cr


Andhra Pradesh Chief Minister N Chandrababu Naidu
| Photo Credit:
HANDOUT

Andhra Pradesh Chief Minister N Chandrababu Naidu alleged massive corruption took place in the state’s excise sector under the previous regime, describing the AP liquor scam as one of the biggest ever. 

He was speaking in the State Assembly in Amaravati on Wednesday.

He said while earlier estimates pegged the scam at ₹3,500 crore, the scale could be as high as ₹10,000 crore.

The Chief Minister claimed that distilleries were taken over, and wholesale operations, transport and retail liquor shops were controlled by a single network. 

He further alleged that transactions were carried out without proper digital tracking, enabling arbitrary and unchecked operations.

Naidu informed the House that the government has constituted a Cabinet Sub-Committee and initiated a comprehensive overhaul of the excise system. 

Emphasising that public health is the top priority, he said that earlier only select “own brands” were promoted, whereas now national and international brands are available in the state.

Published on March 4, 2026



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