Oil hits five year low, emerging stocks hammered

(Reuters) – Oil prices fell to their lowest in five years on Monday, hit by slowing factory activity in China and Europe and hammering emerging market stocks and commodity-linkedcurrencies. Plunging prices for oil and other commodities raised fears of deflation, especially in the euro zone and Japan, and the prospect of looser monetary policy pushed the yen to a seven-year low against Read more about Oil hits five year low, emerging stocks hammered[…]

Food ministry recommends raising edible oil import taxes

(Reuters) – India’s food ministry wants to double the import tax on crude edible oils and raise that on refined oils by 50 percent, but is waiting for other ministries to give their views before passing its recommendation to the cabinet, the food minister said. The world’s biggest vegetable oil importer levies a 2.5 percent Read more about Food ministry recommends raising edible oil import taxes[…]

Cheaper oil – Both symptom and balm

AFTER declining gradually for three months, oil prices suddenly tumbled almost $4 on October 14th alone. It was the largest single-day fall in more than a year and brought the price of Brent crude, an international benchmark, to $85 a barrel. At its peak in June, a barrel had cost $115. Normally, falling oil prices Read more about Cheaper oil – Both symptom and balm[…]

EU imposes new economic sanctions on Russia over Ukraine

(Reuters) The European Union put into effect on Friday a new round of sanctions against Russia over its role in Ukraine, including restrictions on financing for some Russian state-owned companies and asset freezes on leading Russian politicians. The EU and the United States have been stepping up pressure on Moscow after its annexation of Crimea in March Read more about EU imposes new economic sanctions on Russia over Ukraine[…]