Live news: India to free oil from reserves; govt sets up Parliament agenda
Last Updated on January 23, 2023 by Admin
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Live news: India will release 5 million barrels of oil from its strategic reserves in coordination with other buyers including the United States, China, Japan and South Korea, a government statement said on Tuesday.
The move is part of efforts led by US President Joe Biden’s for a coordinated release of stockpiles, seen as a warning to the OPEC+ to pump more oil to tackle rising inflation in major economies like the United States, China and others, said Reuters.
The government has listed 26 new Bills for introduction in Parliament’s Winter Session starting November 29. The session will consider a bill to ban private cryptocurrencies, the repeal of three farm laws, and reforms of India’s bankruptcy code. The cryptocurrency and Regulation of Official Digital Currency Bill, 2021 “seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exeptions to promote the underlying technology and its uses”.
Talks between Zee Entertainment Enterprises and Sony Pictures India for merging the two companies are in final stages, said Punit Goenka, chief of the TV network. Goenka has been fighting Atlanta-based Invesco Developing Markets Fund, the biggest shareholder in Zee, over terms of the merger and the investment firm’s attempts to remove him.
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