US to release 172 million barrels from Strategic Petroleum Reserve to reduce oil prices

US to release 172 million barrels from Strategic Petroleum Reserve to reduce oil prices


U.S. Secretary of Energy Chris Wright speaks during the 2026 Infrastructure Summit of government officials, corporate executives, and labor leaders, in Washington, D.C., U.S., March 11, 2026.
| Photo Credit:
REUTERS/Kylie Cooper

The U.S. ‌will release 172 million barrels of oil ​from its strategic petroleum ⁠reserve in a bid to reduce oil prices that have soared due to supply shocks from ‌the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said ‌on Wednesday.

Wright said the release is ‌part ⁠of a broader release of ⁠400 million barrels of oil agreed to by the 32-nation International Energy Agency earlier in the day.

Wright ​said the release ‌will begin next week and will take about 120 days to deliver.

The U.S. and Israel began attacks on ‌Iran on February 28. Iran has responded ​with its own strikes on Israel and Gulf countries with U.S. ⁠bases.

Raising the stakes for the global economy, Iran’s Islamic Revolutionary Guard Corps said ‌it would block oil shipments from the Gulf unless the U.S. and Israeli attacks cease. The war has shaken markets around the world.

When asked earlier on Wednesday whether he was looking ‌at the threshold for the strategic petroleum reserve, President Donald ​Trump said Washington will “reduce it a little bit.”

“The United States ⁠has arranged to more than replace these strategic ⁠reserves with approximately 200 million barrels within the next year,” the ‌U.S. energy secretary said in a statement.

Published on March 12, 2026



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Morgan Stanley limits private credit fund redemptions amid investor withdrawal surge

Morgan Stanley limits private credit fund redemptions amid investor withdrawal surge


Morgan Stanley has limited redemptions at its North Haven Private Income Fund (PIF) after investors sought to withdraw nearly 11% of outstanding shares, according to a regulatory filing. The fund returned roughly $169 million, fulfilling about 45.8% of tender requests for the quarter.
| Photo Credit:
Dado Ruvic

Wall Street banking giant Morgan
Stanley has limited redemptions at one of its private
credit funds ​after investors sought to withdraw almost 11% of
shares outstanding, a regulatory filing ‌showed on Wednesday.

A flurry of bad news following several credit ​issues in
recent months has drawn fresh scrutiny to the ⁠roughly $2
trillion private credit market, as investors question the health
of loan portfolios and the resilience of borrowers in a higher
interest rate environment.

Morgan Stanley Private Credit said in ‌a letter to investors
that the North Haven Private Income Fund (PIF) returned roughly
$169 million or about 45.8% of investors’ tender ‌request for the
quarter.

The Wall Street powerhouse signaled that the private ‌credit
industry ⁠faces several challenges, including uncertainty around
an M&A recovery, speculation ⁠about credit deterioration and a
contraction in asset yields.

Morgan Stanley said the PIF was invested in 312 borrowers
across 44 industries as of January 31, and that credit
fundamentals at the ​fund remain broadly stable.

“As marketed ‌and consistent with the disclosure in our
private placement memorandum, we will be fulfilling tender
requests for 5% of units outstanding, as of December 31,” the
bank’s investment management arm said in the letter.

Morgan Stanley added ‌that limiting withdrawals will help
avoid asset sales during “periods of market ​dislocation” and
maximize risk-adjusted returns for investors over time.

“Dispersion between stronger and weaker credit is
increasing,” it said.

PRIVATE CREDIT FEARS ⁠GROW

Fears that AI could erode the earnings power of software
companies and weaken their ability to repay loans are rippling
through private credit, a key lender ‌to the technology sector,
prompting investors to reassess exposure, redemption risks and
fundraising prospects, analysts have said.

Concerns have been compounded by renewed troubles at Blue
Owl over asset sales, triggering a sharp selloff in
shares of alternative asset managers with a footprint in the
private credit market.

Meanwhile, JPMorgan Chase has reduced the value of
some loans to private credit funds after reviewing ‌the impact
of market turmoil around software companies, two people familiar
with the situation told Reuters ​on Wednesday.

Analysts still point to JPMorgan CEO Jamie Dimon’s warning
in October of “more cockroaches” lurking in the credit market as
a ⁠potential source of investor anxiety, even though the issues
so far do not ⁠appear to be systemic.

Earlier this month, BlackRock, the world’s largest
asset manager, disclosed that it has limited withdrawals from a
flagship debt ‌fund after a surge in redemption requests.

Alternative asset manager Blackstone on March 2 also
disclosed that its private credit fund, known as ​BCRED, faced a
surge in withdrawals in the first quarter.

Published on March 12, 2026



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PM Modi addresses TN rally, urges calm amid LPG shortage, targets DMK corruption

PM Modi addresses TN rally, urges calm amid LPG shortage, targets DMK corruption


Prime Minister Narendra Modi shake hand with AIADMK General Secretary Edappadi K. Palaniswami, during a public meeting, in Tiruchirappalli on Wednesday.
| Photo Credit:
ANI

Amid the LPG shortage triggered by the West Asia conflict, Prime Minister Narendra Modi on Wednesday appealed to people to not panic and assured public interest will be protected.

Addressing a NDA meeting in poll-bound Tamil Nadu, he slammed the ruling DMK over alleged corruption, dynasty politics and broken promises.

Expresses confidence tackling LPG crisis

The PM expressed confidence of tackling the LPG crisis, where short supply of commercial LPG has crippled the country’s hotel sector.

“I would like to appeal to people, let us only spread correct, verified information,” he said, apparently referring to the LPG crisis.

The conflict has affected whole world’s energy supply chain, he said.

India first approach, no need to panic

“Today, I would like to speak to the people of Tamil Nadu about the conflict in West Asia. It has affected the whole world’s energy supply chain. We believe in the ideology of India first. There is no need to panic or pay attention to rumours. In any situation, we have seen how our government always puts interests of India above everything,” he said.

“During Covid pandemic, 140 crore Indians showed the world how mature our nation is. I am confident that as a nation, we will navigate every situation successfully,” he said.

The PM’s comments came in the wake of the commercial LPG short supply and opposition criticism over the issue and also amidst fears of a possible shortage of or spurt in prices of petrol and diesel in the coming days.

Addressing the mega rally, attended by all NDA constituents, Modi slammed the DMK rule in Tamil Nadu and said that people wanted a government that worked for every family, and not just for one family.

Rs 5,650 crore projects unveiled

Earlier, Modi unveiled inaugurated Rs 5,650 crore projects and said these projects would create thousands of jobs for the youth of the state.

DMK accused of scientific corruption model

Further, just like all rivers go to sea, all corrupt money in the state goes to one family, he said, targeting the DMK regime. The Dravidian party was infamous for its “scientific corruption model,” he alleged.

The DMK was “infamous for their scientific corruption” model, he said retorting to party president and Chief Minister M K Stalin’s refrain on the Dravidian model of governance, and alleged that “ministers may change, MLAs may change, but power remains only with one dynasty.”

Cash-for-jobs scam ruins middle-class dreams

Targeting DMK in the cash for jobs scam, he said when jobs were sold for money, the dreams of the middle class and poor were destroyed.

Farmers denied promised grain storage

The DMK had promised grain warehouses but today, “farmers are searching for these, which are nowhere to be found.” Noting that the farmers of Cauvery delta form the backbone of Tamil Nadu’s food security, he said, “TN farmers deserve fair prices, good facilities and modern storage infrastructure.”

Airport projects highlight Centre’s support

On the international airport status for Madurai, he said the Centre brought the world to the doorstep of the city. Also, he underscored a new terminal for Tiruchirappalli airport, which is ‘modern, also fully immersed in culture of TN.’

“The river Cauvery flows with unstoppable force. Similarly, in this election season in Tamil Nadu, the desire for change is going to a huge momentum. The whole state has made its mind to throw our DMK from the government. The people want a government that works for every family, not for just one family. And they know that only NDA can bring the change for Tamil Nadu,” he said.

Centre respects Tamil culture, engages with people

He took a keen interest in connecting with Tamil people, and when it came to respecting the state and its culture, the Centre has always been at the forefront.

“The upcoming election is the most important in Tamil Nadu’s history. The choice before the people is very clear–one path leads to corruption, dynasty politics and broken promises. The other path leads to development, opportunity and honest governance. I have full faith in the wisdom of the people. Together we will build a Tamil Nadu that is prosperous; together we will build an India that is developed. Let your voice from Trichy echo across the state, TN wants change, TN wants NDA.”

Modi highlights law-and-order failures

Modi lashed out at the DMK regime on crimes against women and children in the state and said violent crimes against them have become common. Criminals roamed fearlessly, harming women he said.

AIADMK chief Edappadi K Palaniswami, PMK Leader Anbumani Ramadoss and BJP state president Nainar Nagenthran also lashed out against the DMK on issues, including law and order and dynasty rule.

Published on March 12, 2026



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Settlements drive surge in SEBI income to ₹2,713 crore in FY25

Settlements drive surge in SEBI income to ₹2,713 crore in FY25


Settlement and compounding of enforcement cases emerged a major revenue source for the Securities and Exchange Board of India (SEBI) in 2024-25, with receipts under the framework jumping nearly eight-fold to ₹814.55 crore from ₹104.13 crore in the previous year, according to the regulator’s audited annual statement of accounts.

The sharp rise in settlements contributed to SEBI’s total income increasing to ₹2,713 crore in FY25 from ₹2,075 crore in FY24, a growth of about 31 per cent. The regulator’s capital base also strengthened, with its corpus or capital fund rising to ₹7,234.66 crore as of March 31, 2025, compared with ₹5,572.82 crore a year earlier.

The accounts show that settlement and compounding receipts were one of the largest individual inflows for the year. As per the statement, SEBI received “₹814.55 crore towards settlement / compounding charges during the year as against ₹104.13 crore in the previous year.”

Under SEBI’s settlement framework, entities facing enforcement proceedings can resolve matters without admission or denial of guilt by paying a settlement amount and complying with specified conditions.

Penalty recoveries

The accounts also note that a portion of the enforcement-related collections is transferred to the government. “In terms of Section 15JA of SEBI (Amendment) Act 2002, the Board remits penalties collected… to the Consolidated Fund of India,” the report said.

Apart from settlements, the regulator recorded ₹10.95 crore towards penalties during the year, up from ₹2.98 crore in the previous year.

Income from investments

SEBI’s income from investments also increased during the year, rising to ₹325.47 crore from ₹192.41 crore in FY24, reflecting the growing size of its investment pool.

The regulator’s investments remain largely in low-risk instruments. The balance sheet shows ₹2,857 crore invested in government securities and ₹2,215 crore placed in deposits with scheduled banks, along with ₹30 crore invested in the National Centre for Financial Education.

These investments form a substantial portion of the regulator’s financial assets and provide a steady stream of income through interest and returns.

Audit observations

However, the Comptroller and Auditor General (CAG), which audited the accounts, flagged certain internal control and reconciliation issues.

Among them were discrepancies relating to lease deposits and asset records. The audit report said that “there were unreconciled differences in the lease deposits as reflected on the liability side of the financial statements and lease deposit liability calculated based on executed lease agreements.”

It also pointed out that in the physical verification report “certain assets were marked ‘disposed of’ but were not removed or discarded from the books.”

Despite these observations, the overall financial position of the regulator strengthened during the year, supported by higher income and a larger corpus.

The spike in settlements suggests that enforcement actions and negotiated case closures played a significant role in boosting SEBI’s revenues in FY25, underscoring the growing scale of regulatory activity in India’s capital markets.

Published on March 11, 2026



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WHO Foundation and Novo Nordisk collaborate on childhood obesity prevention in India

WHO Foundation and Novo Nordisk collaborate on childhood obesity prevention in India


The collaboration will focus on obesity prevention, including healthier early-life environments, physical activity promotion, early risk identification, and preparedness within primary health care systems

The WHO Foundation and Novo Nordisk are collaborating to raise awareness on childhood obesity in India.

The collaboration would providing financial support towards strengthening of obesity prevention and health-system readiness in India, to curb the rise of childhood obesity through a scalable school-based health program, they said in a joint communication. The initiative is part of Novo Nordisk’s CSR (corporate social responsibility), an industry representative said.

According to the World Health Organization, overweight and obesity now cause more deaths globally than underweight and are linked to multiple noncommunicable diseases, including cardiovascular disease and type 2 diabetes. The WHO Foundation is an independent organisation headquartered in Geneva, Switzerland, created in 2020 to support the mission of the World Health Organization.

The communication pointed out that the collaboration will focus on obesity prevention, including healthier early-life environments, physical activity promotion, early risk identification, and preparedness within primary health care systems.

The collaboration comes even as globally popular weightloss and diabetes drugs (for adults) Wegovy and Ozempic from Novo Nordisk, and Eli Lilly’s Mounjaro make rapid strides in the domestic market. In fact, more versions of semaglutide, the active ingredient in Novo’s Wegovy and Ozempic, are expected to flood the local market from Indian drugmakers, as a basic patent on semaglutide is set to expire in days, in markets including India.

Anil Soni, Chief Executive Officer of the WHO Foundation, said: “Schools are the frontline of prevention. By integrating health screening and education directly into the school day, this collaboration aims to protect the well-being of the next generation, turning schools into enabling environments for healthy living.”

Vikrant Shrotriya, Managing Director of Novo Nordisk India, said, “India is witnessing a worrying rise in childhood and adolescent obesity, and addressing this challenge early is essential to safeguard the nation’s long-term health.”

Published on March 11, 2026



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HDFC ERGO Appoints Parthanil Ghosh as New MD, CEO

HDFC ERGO Appoints Parthanil Ghosh as New MD, CEO


The Board of Directors of HDFC ERGO General Insurance Company on Wednesday approved the elevation of Parthanil Ghosh as the Managing Director and Chief Executive Officer (CEO) of the Company.

The appointment will be effective from April 16, 2026, and is subject to IRDAI and other necessary approvals, per a company statement. .Ghosh will succeed Anuj Tyagi.

Ghosh joined the Company in 2016 following the merger with L&T General Insurance and has been serving as the Executive Director since May 1, 2025.

Keki M Mistry, Chairman of the Board, HDFC ERGO General Insurance said, “Parthanil brings in extensive industry knowledge, deep operational insight and strong strategic leadership to the role. He has been a key contributor to the Company’s progress and success in recent years, enabling HDFC ERGO to strengthen its market position and in building a culture focused on customer trust, technical excellence and sustainable growth.”

Published on March 11, 2026



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