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Crack spreads for diesel fuel have surged significantly from mid-October to mid-November, with prices in key markets such as New York Harbor, the US Gulf Coast, and the Amsterdam, Rotterdam, Antwerp (ARA) shipping hub surpassing $1 per gallon for the first time in over a year. This increase is attributed to new European Union sanctions on Russian oil, which target countries like India and Türkiye that process discounted Russian crude into diesel for export. Additionally, Ukraine's attacks on Russian refineries and a prolonged outage at Kuwait's Al Zour refinery have further constrained global diesel supplies. The US Energy Information Administration noted that these factors have tightened available refined products, leading to higher prices in the Atlantic Basin and increased demand for operational refiners, particularly on the US Gulf Coast, where gasoline and distillate fuel oil exports have reached their highest levels this year. 
Published: Dec 05 2025, 2 pmeznews.inIn Kochi's latest tea auctions, dust prices surged due to heightened seasonal demand linked to the Sabarimala pilgrimage, with a notable 97% clearance rate for dust teas, driven by strong bidding. The average price rose by ₹2 to ₹163 per kg, while good liquoring teas remained firm, and medium teas also saw price increases. Blenders accounted for 65% of the total CTC quantity sold from an offered 578,991 kg. In contrast, orthodox leaf prices fell by ₹3 to ₹174 per kg, attributed to quality issues and limited export interest, particularly from Middle Eastern buyers. The overall market for whole leaf and brokens declined by ₹5 to ₹10. Additionally, tea arrivals have decreased due to adverse weather conditions, including low sunshine and extended rains, impacting crop production across South Indian tea-growing regions.
Published: Dec 05 2025, 3 pmeznews.inThe National Real Estate Development Council (Naredco) has expressed its approval of the Reserve Bank of India's (RBI) recent decision to cut the repo rate by 25 basis points. In a statement released on Friday, Naredco highlighted that this reduction is a crucial step in revitalizing the economy and the real estate sector, enhancing liquidity and fostering new investments across various industries. The council emphasized that lower interest rates will make home loans more affordable, thereby supporting homebuyers and bolstering demand in the housing market. This positive shift is expected to benefit allied industries as well, potentially leading to increased employment opportunities. Furthermore, Naredco noted that the repo rate cut could stimulate interest among developers and buyers in Tier 2 and Tier 3 cities, further expanding the market's reach.
Published: Dec 05 2025, 3 pmeznews.inMorocco's OCP, which controls 70% of the world's phosphate reserves, anticipates its phosphorus exports to India, including di-ammonium phosphate (DAP) and rock phosphate, will surpass 2.5 million tonnes in 2025, up from 1.8 million tonnes in 2024. CEO Youssef El Bari emphasized OCP's commitment to supporting Indian farmers, stating that customized fertilizers are key to enhancing agricultural productivity and food security. The company is shifting focus from exporting raw phosphate to tailored fertilizers, promoting triple super phosphate (TSP) as a superior option. Following successful initiatives in Nigeria and Ethiopia, OCP is establishing blending units in Rwanda and exploring similar projects elsewhere. El Bari highlighted the importance of precise nutrient delivery for India's diverse soils, particularly for pulses, as the country aims for self-sufficiency in this sector. OCP maintains significant partnerships with Indian fertilizer firms, ensuring a steady supply of essential nutrients.
Published: Dec 05 2025, 3 pmeznews.inIndia is seeking alternative sources for specialty fertilisers amid reports of China withholding exports, with domestic companies now turning to suppliers in Belgium, Egypt, Germany, Morocco, and the United States, as revealed by Minister of State for Fertilisers Anupriya Patel in Parliament. She noted that specialty fertilisers are not covered by the Nutrient Based Subsidy scheme, allowing companies to import based on market conditions. To enhance self-reliance, Indian research institutions, including the Indian Council of Agricultural Research (ICAR), are developing indigenous alternatives such as zinc EDTA and bio-fertilisers. These efforts are supported by government initiatives aimed at sustainable agricultural productivity. Official data indicates that China has been a major supplier, providing 65.65% of India's water-soluble fertiliser imports in the 2024-25 fiscal year, highlighting the urgency for India to diversify its fertiliser sources.
Published: Dec 05 2025, 3 pmeznews.inIndia has eased rest-period regulations for airline pilots to address significant disruptions in domestic flight operations, particularly affecting IndiGo, which has faced severe rostering challenges due to new Flight Duty Time Limitations (FDTL) implemented on November 1, 2025. The Directorate General of Civil Aviation (DGCA) granted IndiGo a temporary exemption from certain night-duty restrictions, allowing the airline to stabilize operations until February 10, 2026, while emphasizing that safety standards remain intact. IndiGo's operational difficulties have led to widespread flight cancellations, with over 350 flights grounded recently, prompting the DGCA to consult with various stakeholders, including pilot unions. The Airline Pilots’ Association of India criticized the exemption as unsafe and detrimental to established fatigue protections. The DGCA has called for cooperation from pilot bodies to mitigate further disruptions, especially during the peak holiday season, while monitoring IndiGo's compliance with FDTL norms.
Published: Dec 05 2025, 3 pmeznews.inIn a significant market update, India's benchmark indices saw gains, with the SENSEX rising by 470.30 points to close at 85,735.62, while the NIFTY increased by 158.90 points, reaching 26,192.65. In commodities, gold prices surged by 700.00 to settle at 128,000.00, and silver also experienced a notable rise, climbing 3,887.00 to 178,598.00. Conversely, crude oil prices dipped slightly, down by 3.00 to 5,380.00. Meanwhile, the Directorate General of Civil Aviation (DGCA) has relaxed certain pilot duty regulations following a staffing shortage that led IndiGo, India's largest airline, to cancel hundreds of flights this week. This development comes as the airline industry grapples with operational challenges. The situation remains fluid as further updates are anticipated.
Published: Dec 05 2025, 2 pmeznews.inIndiGo Airlines is facing significant operational challenges, leading to a wave of flight cancellations and a decline in its stock value. On December 3, 2025, shares of InterGlobe Aviation, IndiGo's parent company, fell by 0.04% to ₹5,434.50, marking an 8% drop over five sessions. The airline cancelled over 350 flights on Thursday and 102 on Friday, affecting thousands of passengers, due to pilot shortages, technology issues, adverse weather, and new crew rostering rules. Technical analysts warn that the stock may decline further, with immediate support at ₹5,275-5,300. The situation has escalated to parliamentary discussions, with concerns raised about the airline's monopoly. In response, IndiGo plans to reduce operations starting December 8, aiming to resume normal services by February 10. The airline has stated it is not aware of any formal investigation by the Directorate General of Civil Aviation (DGCA).
Published: Dec 05 2025, 2 pmeznews.inDelhi is experiencing unprecedented winter power demand, with a record peak of 4,486 megawatts (MW) recorded on November 28, 2025, the highest for the month in history. This surge marks a significant increase compared to previous years, with the highest demand in November 2024 being 4,259 MW. Local power distributors, including BSES Rajdhani Power and Tata Power Delhi Distribution, have successfully met rising demands, with projections indicating that overall winter demand could reach 6,000 MW this season, surpassing last year's peak of 5,655 MW. The India Meteorological Department anticipates a harsher winter, further driving demand. To ensure reliable power supply, distributors are implementing measures such as green energy sourcing and advanced demand forecasting. Notably, over half of the power supplied by BSES is derived from renewable sources, and surplus power will be banked for use during peak summer months.
Published: Dec 05 2025, 2 pmeznews.inIndiGo, India's largest airline, is facing significant operational challenges, leading to a drastic drop in its on-time performance (OTP) to just 8.5% on Thursday, down from 19.7% the previous day and 35% on Tuesday. The airline, which typically operates around 2,300 flights daily, has begun cancelling flights to address disruptions primarily caused by crew issues. In contrast, competitors such as Air India and Akasa Air reported OTPs of 61% and 63%, respectively. The OTP figures are based on performance at six major airports, including Delhi and Mumbai. Following the news, IndiGo's shares fell nearly 3% to ₹5,291.45 on the Bombay Stock Exchange. The airline's commitment to punctuality is now under scrutiny as it grapples with these operational setbacks.
Published: Dec 05 2025, 2 pm
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