Business Archives - Page 3 of 31

05 Mar

US Urges India to Swap Russian Crude for American Energy Amid Middle East Volatility

Rajeev Sharma0 CommentsBusiness, IndiaCrude Oil, Energy, India, Raisina Dialogue, Trade Deal, US

New Delhi/Washington (Rajeev Sharma) — United States Deputy Secretary of State Christopher Landau issued a strong appeal to India on Thursday, urging the nation to transition from Russian crude oil to American energy supplies. Speaking at the Raisina Dialogue 2026, Landau positioned the United States as the "best alternative" for meeting India's massive energy requirements, particularly as the escalating conflict in West Asia threatens traditional supply routes through the Strait of Hormuz. The diplomat's remarks come at a critical juncture for global markets. Since the onset of the Russia-Ukraine war, India has consistently purchased discounted Russian oil, a move that…

03 Mar

India’s Energy Shield: Six to Eight Weeks of Fuel Buffer Amid West Asia Conflict

Gurpreet Singh0 CommentsBusiness, Indiacrude oil imports, Energy Security, inflation, Strategic Petroleum Reserves, West Asia Conflict

New Delhi (Gurpreet Singh): India holds sufficient crude oil and fuel inventories to meet domestic demand for six to eight weeks, providing a critical cushion against short-term supply disruptions caused by escalating military conflict in West Asia. High-level government sources confirmed that the country is well-prepared to navigate the crisis triggered by joint U.S. and Israeli strikes on Iranian facilities, which has effectively halted tanker movements through the strategic Strait of Hormuz. The Ministry of Petroleum and Natural Gas has established a 24x7 control room to monitor the situation "on a daily and hourly basis." While approximately 50 per cent…

03 Mar

Global Oil Markets Shaken: Gas Prices Rise as Middle East Tensions Escalate

Rajeev Sharma0 CommentsBusiness, CanadaGas prices, inflation, Middle East conflict, Oil market, Strait of Hormuz

Ottawa (Rajeev Sharma): Canadian motorists are facing immediate pressure at the pumps this week as North American oil markets react to a significant escalation of conflict in the Middle East. Following a joint military operation by the U.S. and Israel against Iran on Saturday, concerns over the stability of global energy supply chains have sent crude prices on a volatile upward trajectory. The primary focus for market analysts is the Strait of Hormuz, a narrow yet vital waterway on Iran's southern border. Currently, approximately 20 per cent of the world's crude oil passes through this chokepoint. Over the weekend, several…

02 Mar

Bank of Canada Warns Potential Rate Hikes May Be Necessary Despite Weak Economic Growth

Rajeev Sharma0 CommentsBusiness, CanadaBank Of Canada, inflation, Interest rates, Monetary policy, Rate hikes, Reuters, Sharon Kozicki, Supply shocks

Ottawa (Rajeev Sharma): The Bank of Canada has issued a cautious warning that interest rate increases may occasionally be required even during periods of economic stagnation, as the country prepares for significant structural shifts and potential global supply shocks. Speaking in Norway on Monday, March 2, 2026, Deputy Governor Sharon Kozicki addressed the "difficult trade-off" that central banks face when inflationary pressures are driven by supply-side disruptions rather than domestic demand. She noted that while it might seem counterintuitive to tighten monetary policy during a weak economy, such restraint is essential to prevent inflation from becoming persistent. Kozicki identified several…

02 Mar

India-Canada Strategic Reset: PM Modi and PM Carney Unveil “One Family” Roadmap for 2030

Rajeev Sharma0 CommentsBusiness

New Delhi/Ottawa (Gurpreet Singh/ Rajeev Sharma): In a landmark diplomatic breakthrough, Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney issued a comprehensive Joint Leaders’ Statement on Monday, March 2, 2026, marking a definitive "reboot" of bilateral relations. This visit- the first by a Canadian Prime Minister since 2018 signals a shift toward pragmatic economic cooperation and strategic alignment under the guiding philosophy of "Vasudhaiva Kutumbakam" (One Earth, One Family, One Future). The two leaders have committed to a multi-layered roadmap designed to elevate India-Canada ties into a resilient, 21st-century partnership that balances high-tech innovation with traditional energy security…

01 Mar

Global Oil Shock: India Braces for $100 Crude as Hormuz Closure Ignites Energy Security Crisis

Gurpreet Singh0 CommentsBusiness, IndiaCrisis, Crude, Energy, Hormuz, India, Iran, Oil

New Delhi (Gurpreet Singh): The Indian economy is facing a critical strategic challenge as global oil prices surged nearly 10 per cent on Sunday, March 1, 2026, following a dramatic military escalation in West Asia. Brent crude jumped toward $80 a barrel in over-the-counter trading after joint US and Israeli strikes on Iranian leadership prompted Tehran to move toward shutting the Strait of Hormuz. This narrow maritime corridor is the primary artery for nearly one-fifth of global oil and gas supplies, and any prolonged blockage threatens to drive prices toward the $100 mark, significantly straining import-dependent nations. The crisis acquired…

01 Mar

Middle East Tensions Leave Punjabi Travellers Stranded in Sharjah; Bathinda Principal Appeals for Urgent Evacuation

Rajeev Sharma0 CommentsBusinessAirport, Iran, Israel, Punjabi, Sharjah, War

Rajeev Sharma :- Escalating hostilities between United States, Israel and Iran have begun to cast a shadow far beyond the conflict zone, with ripple effects now impacting Indian travellers abroad. As airspace restrictions and flight suspensions disrupt international routes across the Middle East, several passengers from Punjab have found themselves stranded at Sharjah International Airport, facing mounting uncertainty and hardship. Among them is Neeru Garg, a school principal from Bathinda, who released a video message detailing the distressing conditions at the airport. She stated that essential medicines for blood pressure and diabetes have run out, raising serious health concerns amid…

28 Feb

Loonie Hits 11-Day High as Resilient Domestic Demand Overshadows GDP Contraction

Rajeev Sharma0 CommentsBusiness, CanadaBank of Canada interest rate news, CAD vs USD exchange rate today, Canada GDP contraction Q4, Canadian dollar 11-day high 2026

Ottawa (Rajeev Sharma) — The Canadian dollar (CAD) surged to an 11-day high on Friday, February 27, 2026, as investors focused on robust underlying economic details despite a headline contraction in the country's Gross Domestic Product (GDP). The currency’s resilience comes as a surprise to many, especially following data from Statistics Canada showing the economy shrank at an annualized rate of 0.6% in the fourth quarter of 2025—a figure significantly weaker than the flat growth markets had anticipated. The primary driver behind the headline "GDP collapse" was a massive inventory drawdown, the largest in three years, which acted as a…

25 Feb

Toronto Man Arrested After Year-Long Online Child Exploitation Probe

Rajeev Sharma0 CommentsBusiness

Toronto (Rajeev Sharma): Niagara Regional Police have apprehended a 50-year-old Toronto man following an extensive undercover investigation into child exploitation that lasted nearly a year. The probe, spearheaded by the Niagara Internet Child Exploitation (ICE) Unit, was launched in March 2025 as a proactive measure to identify individuals utilizing the internet to target children for sexual purposes. By February 2026, the investigation expanded to include the Peel Regional Police ICE Unit after authorities determined the suspect was continuing his illicit online activities. On Tuesday, February 24, 2026, officers arrested Joseph Michael Mortillaro and charged him with two counts of luring…

25 Feb

Strategic National Expansion Drives Profit Surge for National Bank of Canada

Rajeev Sharma0 CommentsBusiness, CanadaCanadian Western Bank acquisition, CWB integration update, National Bank of Canada earnings Q1 2026, National Bank profit growth

Montreal (Rajeev Sharma): National Bank of Canada reported a robust increase in its first-quarter earnings on Wednesday, February 25, 2026, largely credited to the successful integration of the Canadian Western Bank (CWB). The Montreal-based financial institution, which ranks as Canada’s sixth-largest lender, outperformed market expectations by leveraging its newly expanded footprint in Alberta and British Columbia. This strategic acquisition has transitioned the bank from a regional powerhouse in Quebec to a formidable national player, providing a significant lift to its bottom line during a period of economic transition. Financial disclosures indicate that the CWB deal accounted for a nearly 20%…