Oil stabilises as supply deficit counters demand fears
TOKYO, May 12 (Reuters): Oil prices stabilised on Friday and were set to end the week flat as the market balanced supply fears against renewed economic concerns in the United States and China.Brent crude futures was down 5 cents, or 0.07 per cent, at $74.93 a barrel by 1145 GMT....
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Biden administration announces plan to curb emissions from power plants
WASHINGTON, May 12 (AFP): President Joe Biden's administration on Thursday announced plans to curb planet-warming emissions from the nation's power stations, as part of the United States' efforts to combat climate change.Starting from 2030, the proposal from the Environmental Protection Agency would target fossil fuel electricity production with increasingly stringent...
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Sri Lanka's airline posts $525 million annual loss
COLOMBO, May 12 (AFP): Cash-strapped Sri Lanka's national airline announced a staggering $525 million annual loss on Friday.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging state companies that have drained the budget and compounded the worst financial crisis in Sri Lanka's history.The bankrupt...
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Gold prices dip for third straight session as dollar, yields weigh
Gold prices were on track to fall for a third straight session on Friday, weighed by higher yields and a steady dollar, but the bullion retained its spot over the key $2,000 level on expectations of interest rate cuts towards the end the year, reports Reuters. Spot gold was down...
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Tata Motors' profit soars on Jaguar Land Rover sales
MUMBAI, May 12 (AFP): India's Tata Motors reported better-than-expected profits for the first three months of the year on Friday, boosted by a strong performance at its British subsidiary Jaguar Land Rover and sales in the domestic market.The Mumbai-headquartered automaker posted a net profit of 54.08 billion rupees ($658 million),...
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