Crude oil price today in dollar per barrel

LONDON: OPEC+ enters a second and final day of meetings on Thursday with sources saying the group is unlikely to decide imminently to pump more barrels to the market beyond August. At its last gathering in early June, OPEC+ decided to raise output each month by 648,000 barrels per day (bpd) in July and August, compared with a previous plan to add 432,000 bpd over three months. OPEC+ consists of the Organization of the Petroleum Exporting Countries and allies such as Russia. Washington welcomed the producers' decision in June that followed months of pressure from the West on OPEC+ to raise production to help lower oil prices. International prices hit their highest since the record levels of 2008 after the West imposed sanctions on Russia over its invasion of Ukraine begun on Feb. 24, which Moscow calls "a special military operation". They have eased since this year's March peaks, but rose above $115 a barrel this week because of tight supply and concern OPEC has little ability … [Read more...] about Opec+ meets with little prospect of pumping more oil

KUALA LUMPUR: Home improvement retailer MR DIY Group (M) Bhd (MR DIY) is committed to its "always low prices” slogan despite the rise in operating costs and inflation in the country. Chief executive officer Adrian Ong said the move to continue providing consumers with affordable products was data-driven, adding that it was efficient and sustainable business practices which allow the company to absorb the hike in prices. "At the same time, (the ability) to purchase in very large volume has enabled us to negotiate good terms with our suppliers which helps to keep prices low. "We, in turn, pass this benefit to our customers. That is our formula, to share the benefits (of bulk buying) with everybody," he said during a press conference after the grand opening of Mr DIY Plus at the Mid Valley Megamall here today. Ong said the newly launched Mr DIY Plus store had 200,000 visitors since its opening on May 19, 2022. Recognised for its rapid expansion, the group has set a target … [Read more...] about MR DIY continues to provide affordable prices despite economic drawback

In May, the employee was paid Rs 1.42 crore (165,398,851 Chilean pesos) instead of his salary of Rs 43,000 (500,000 pesos). (Representative Image) The rupee touched a record low, sliding near 79 to a dollar, on June 29 as foreign investors continued selling local equities and crude oil prices rose. Experts say the sharp fall of the rupee can be attributed to the strength of the greenback and lower forward premiums, among others. Moneycontrol explains the reasons for the rupee’s depreciation. How much did the rupee depreciate? The rupee opened at 78.85 per dollar and slid to 78.95, an all-time high, during intra-day trade on Wednesday. On a weekly basis, the currency has depreciated 1.2 percent. Close Why is the rupee in a free fall? Central banks led by the US Federal Reserve tightening interest rates globally, increases in crude oil and commodity prices, lower forward premiums and weakening forex reserves are some of the reasons experts cite for … [Read more...] about MC Explains | Will RBI let the rupee adjust to new lows?

Indian corporates may face an elongated receivable cycle, or even default on payments by Russian importers due to the sharp fall in Russian Rouble , bankers said. The Russian Rouble fell nearly 30% on Monday against the US dollar after the country’s premier Vladimir Putin on Sunday ordered his nuclear forces to be on high alert in view of the evolving Russia-Ukraine conflict . Separately, in view of the steep depreciation of its currency, the Bank of Russia on Monday decided to increase the key rate to 20% per annum from 9.50%, the sharpest rate hike since 2014, to compensate for the increased depreciation and inflation risks. “This is needed to support financial and price stability and protect the savings of citizens from depreciation,” the central bank said. Indian companies have a significant presence in Russia. As per data by Indian embassy in Russia, bilateral trade between the two countries between April 2020-March 2021 amounted to $8.1 billion. Indian exports … [Read more...] about Indian corporates brace for delay in receivables, defaults as Russian rouble tanks

- A + A LONDON (June 30): Investors knew that, after two years of COVID-19 chaos, 2022 would be a bumpy ride, but nobody expected this - the most turbulent first half global markets have ever seen. To grasp just how torrid things have been, consider two things. MSCI's 47-country world stocks index has suffered its biggest 1H drop since its creation in 1990. At same time, 10-year U.S. Treasury bonds - the benchmark of global borrowing markets and traditional go-to asset in troubled times - have had their worst first half since 1788. Why? Russia's invasion of Ukraine supercharged what was already fast-rising inflation, forcing the big central banks to jack up interest rates and politicians to warn of new world orders. The result? A $13 trillion wipeout in world stocks, a 15.5% plunge Japan's yen, Italy's worst rout since the euro zone crisis, and what is shaping up to be the strongest commodities rally since World War I. Add to that Russia being gouged out the … [Read more...] about Markets in 1H: The almost perfect storm

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

Fifteen years ago, Eric Ryan and Adam Lowry launched Method , an eco-friendly cleaning products company that emphasized beautiful packaging as much as sparkling sinks. In 2012, the business was acquired by Belgium-based Ecover. Ryan stayed on. Today, Ryan is introducing Olly , which applies the same design-centric approach to vitamins that Method did to soap. Olly ' s products come in gummy form and are named for benefits like Calm, Immunity, Sleep, and Beauty. For now they are available exclusively through Target. Ryan, whose Olly co-founder is marketing veteran Brad Harrington, spoke with Inc. about his sophomore venture. Where does the name Olly come from? Everybody in the category seemed to fall into two camps. Scientific-but-cold-sounding names like Centrum. Or folksy nature names: Nature ' s Garden or Nature ' s Bounty. We want our brand to be accessible, friendly, and simple. We thought, when you walk into a pharmacy, what ' s the name of the … [Read more...] about Making Vitamins, People, and Gross Margins Beautiful