eznews.inOil traders are closely observing India's increasing imports of non-Russian crude ahead of the impending sanctions on major Russian producers Rosneft and Lukoil, set to take effect on November 21. Recent reports indicate a significant rise in oil tanker bookings, with around a dozen vessels chartered to transport crude from countries such as Saudi Arabia, Kuwait, Iraq, and the UAE, a notable increase from just four bookings last month. This surge includes both Very Large Crude Carriers and smaller Suezmax vessels, with further demand anticipated. As Indian refiners, including Reliance Industries, prepare to halt Russian crude deliveries, they are actively seeking alternatives, although current purchases have not yet compensated for the potential loss of over one million barrels per day from Russia. Consequently, freight rates for transporting oil from West Asia to Asia are nearing a five-year high, reflecting the shifting dynamics in the market. 
Published: Nov 20 2025, 10 ameznews.inSatellite imagery on Thursday revealed a significant buildup of clouds over the south-east Bay of Bengal, indicating the potential formation of a new low-pressure area. This follows a persistent low-pressure system over the Lakshadweep Islands and Maldives, which has brought heavy rainfall to the region, with Minicoy recording 7 cm of rain. The India Meteorological Department (IMD) reported widespread rain across the Andaman and Nicobar Islands, Lakshadweep, Tamil Nadu, Puducherry, and Kerala. Over the next three days, the IMD forecasts continued rainfall in these areas as the low-pressure system is expected to move west-northwest and intensify into a depression by Monday. This system may evolve into a tropical storm or cyclone by Wednesday, potentially impacting the Tamil Nadu and Andhra Pradesh coasts. Meanwhile, isolated rain is anticipated in Coastal Andhra Pradesh and Karnataka due to a separate cyclonic circulation off Sri Lanka.
Published: Nov 20 2025, 10 ameznews.inThe Indian Rupee is projected to gradually weaken, potentially reaching the psychological threshold of ₹90 per US dollar by March 2026, according to a report from Union Bank of India. The report attributes this trend to both fundamental and technical factors, with expectations of continued depreciation driven by market dynamics. It suggests that the Rupee could strengthen if there are sustained equity inflows or progress in India-US trade negotiations, potentially stabilizing around ₹87.80 per dollar. Conversely, resistance is anticipated near ₹88.80, with a decisive breach possibly pushing the currency towards ₹89.30. The report highlights the influence of geopolitical developments, tariff news, and key global economic indicators on market sentiment. Additionally, supportive factors such as low Brent crude prices and a low October CPI reading may bolster the Rupee, while cautious foreign portfolio flows reflect high domestic equity valuations.
Published: Nov 20 2025, 9 ameznews.inThe Supreme Court has invalidated significant provisions of the Tribunals Reforms Act, 2021, asserting that the Centre cannot reintroduce clauses previously deemed unconstitutional. A division bench, led by Chief Justice B R Gavai, highlighted that amendments made through the 2021 Ordinance, which included a minimum age requirement of 50 for appointments and a reduced tenure of four years, were arbitrary and undermined judicial independence. Experts warn that the ruling will impact current tribunal members over the age of 62, who will now be unable to continue in their roles, while those appointed before 2021 may benefit from extended tenures. Legal analysts emphasized the importance of maintaining tribunal independence and the necessity for a stable selection process. The Court's decision serves as a stern reminder to the government against circumventing judicial authority through legislative rehashing of previously invalidated provisions.
Published: Nov 19 2025, 9 pmeznews.inThe Mumbai Port Authority (MbPA) is set to enhance operational efficiency and reduce costs by inviting private players to manage the Indira Dock berths, a move described as pioneering by Chairperson M Angamuthu. This initiative aims to streamline cargo handling operations, which currently involve multiple agencies, by allowing a single operator to oversee berthing, unloading, and storage. With 22 berths available for bidding, excluding those allocated to the Cochin Shipyard and Indian Coast Guard, the MbPA hopes to attract top industry players. The total cargo handled at Indira Dock in FY25 reached 5.38 million tonnes, predominantly iron and steel. Interested parties have until December 15, 2025, to submit Expressions of Interest, with the tender process expected to conclude by March 31, 2026. This strategy is anticipated to improve resource allocation, reduce vessel idling, and ultimately draw more business to the port.
Published: Nov 19 2025, 10 pmeznews.inAfghanistan's Commerce and Industry Minister Alhaj Nooruddin Azizi is leading a delegation to India to enhance trade and investment ties amid deteriorating relations with Pakistan. The visit aims to explore opportunities in key sectors such as gems and jewellery, dry fruits, FMCG, textiles, logistics, and education, as highlighted by the PHDCCI. This follows India's recent decision to upgrade its diplomatic presence in Afghanistan by reopening its embassy, signaling a commitment to strengthen bilateral relations. Azizi's delegation includes senior officials and business representatives, marking the second high-level visit from the Taliban government in recent weeks. In October, Afghan Foreign Minister Amir Khan Muttaqi met with Indian counterpart S. Jaishankar, who announced plans for six new projects and the donation of 20 ambulances to Afghanistan. The ongoing border clashes with Pakistan have severely impacted Afghanistan's economy and exports, complicating the trade landscape.
Published: Nov 19 2025, 10 pmeznews.inIn a bid to discourage the use of older vehicles, India's Ministry of Road Transport & Highways (MoRTH) has significantly increased fitness test fees for motor vehicles over 20 years old. Effective from November 11, light motor vehicles (LMVs) will now incur a fee of ₹15,000, up from ₹10,000, while heavy trucks and buses will face a steep rise to ₹25,000 from ₹3,500. Medium commercial vehicles will be charged ₹20,000, and two-wheelers will see their fees jump to ₹2,000 from ₹600. The new fee structure introduces three age categories for fitness testing, starting at 10 years for commercial vehicles, a change from the previous 15-year threshold. This move follows an earlier notification in August that raised renewal charges for older vehicles, amid ongoing scrutiny from the Supreme Court regarding the enforcement of regulations on diesel and petrol vehicles in the Delhi-NCR region.
Published: Nov 19 2025, 10 pmeznews.inThe Reserve Bank of India's recent trade relief measures, aimed primarily at exporters, should be extended to the entire value chain, including raw material suppliers, according to Siddhartha Rajagopal, Executive Director of the Cotton Textiles Export Promotion Council (Texprocil). He highlighted that the textile sector operates as an integrated system, where reduced demand for finished goods due to high US tariffs adversely affects yarn and fabric manufacturers. While the RBI's measures include a moratorium on term loans and an extended credit period for exporters, suppliers remain subject to standard income recognition and provisioning norms, potentially leading to financial strain. Meanwhile, the Gem and Jewellery Export Promotion Council (GJEPC) welcomed the RBI's initiatives as timely, noting their importance for the diamond and jewellery sectors, which face challenges from delayed payments and rising costs. The measures are expected to alleviate cash-flow pressures and enhance operational flexibility for these capital-intensive industries.
Published: Nov 19 2025, 8 pmeznews.inAs Navi Mumbai airport prepares to commence commercial operations on December 25, there are currently no flights scheduled to Goa on December 31. While airlines are working to stimulate travel demand, a recent check revealed that one-way economy tickets for December 25 to cities like Ahmedabad, Bengaluru, and Delhi are generally cheaper from Mumbai, whereas flights to Kochi, Lucknow, and Mangalore are more affordable from Navi Mumbai. This trend continues into New Year’s Eve travel, with similar pricing patterns observed. The first month will see 23 daily departures, primarily operated by Akasa Air and IndiGo, with plans to increase to 34 by February. Experts suggest that ticket prices may be influenced by a higher user development fee at Navi Mumbai, and demand is expected to rise as the opening date approaches. Overall, the pricing landscape remains fluid as both airports adapt to increased demand.
Published: Nov 19 2025, 9 pmeznews.inThe Solvent Extractors’ Association of India (SEA) and the Federation of Oils, Seeds and Fats Associations (FOSFA) International have signed a memorandum of understanding (MoU) to enhance global collaboration and trade within the oils and fats sector. The agreement, signed by SEA President Sanjeev Asthana and FOSFA President Santiago Visca, aims to create a structured framework for cooperation, focusing on bilateral trade, market intelligence exchange, and the promotion of best practices. The partnership will also advance training and capacity-building initiatives through specialized education and joint research efforts. To facilitate the MoU's implementation, a joint working group will be established, meeting biannually to monitor progress and identify priorities. This strategic alliance is expected to provide stakeholders with improved market access, enhanced technical expertise, and greater networking opportunities, ultimately fostering sustainable development within the industry.
Published: Nov 19 2025, 9 pm
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