LONDON: The EU responded cautiously ahead of the G7 talks on Friday, after the US threatened to impose $2 billion of tariffs on six countries in response to their new digital taxes. On Thursday, France clarified that it would not withdraw its digital tax until a new global levy on multinationals is agreed and implemented by the US. “We should withdraw the (national) tax when
RIYADH: Yemen’s information minister said the failure of negotiations between the UN and the Iran-backed Houthis over the floating Safer oil tanker was “not surprising,” in light of the militia’s continued procrastination and elusiveness over the issue.
Moammer Al-Eryani said the Houthi militia have been using the file as a bargaining chip, tool for blackmail, and an attempt to achieve political gains without heeding warnings of an impending environmental, economic and humanitarian disaster.
Safer has been moored in the Red Sea, north of Hodeidah, since it fell into Houthi hands in 2015. Carrying over one million barrels of oil, the vessel’s situation is deteriorating and if it spills, could threaten an ecological disaster four times worse than that of the Exxon Valdez oil spill in Alaska.
Fuel prices were hiked 16 times in May; hiked 42 times during CY2021: Report
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In the month of May 2021, fuel prices were hiked every alternate day. After witnessing a total of sixteen fuel price hikes, the month ended with all-time high prices in some metro cities of the country, stated Care Ratings report.
When oil marketing companies increases prices of fuel, taxes and duties also increase proportionately. This allows centre and states to make more revenue from this rise.
In the month of February as well, the same number of hikes were reported. In Indiaâs financial capital, Mumbai, petrol prices created a fresh record by crossing Rs 100 per litre for the first time, while diesel prices inched towards Rs 92 per litre on May 31, stated Care Ratings.
RIYADH: Saudi Arabia coach Herve Renard has warned his players not to underestimate Yemen ahead of their second-round World Cup qualifier on Saturday in Riyadh, issuing a reminder of the earlier Group D meeting between the two teams. Victory will take the Green Falcons soaring five points clear at the top of the standings, for 48 hours at least, above Uzbekistan and in sight
The US oil industry has just been through one of its toughest years ever. Following a trade war with Russia and Saudi Arabia, the sector was hit hard by the Covid-19 pandemic. In Texas – America's to…