China's factory activity shrinks in October, third contraction in four months - Reuters

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• Centre scraps Rs 2.5/litre petrol export duty, hikes diesel levy to Rs 11.5

  The Ministry of Finance implemented these calibrated rate adjustments on October 31 to safeguard domestic fuel availability amid ongoing global energy market fluctuations. First established in March 2026 during the West Asia crisis, these export levies are designed to manage local supplies by disincentivizing outbound shipments during periods of overseas price volatility.

  1 min read
• Govt to meet liquor firms over Scotch dispute

  New Delhi's decision to exclude bulk shipments from recently halved import duties has sparked intense backlash across the nation's $65 billion alcohol market. Industry groups warn that prioritizing packaged imports penalizes domestic bottling operations and threatens the integrity of the bilateral trade pact. Resolving the matter is critical because roughly four-fifths of the country's Scotch imports arrive in bulk.

  2 min read
• Oil company earnings skyrocket — again

  Ongoing geopolitical turmoil in Iran alongside Ukrainian attacks on Russian refineries have removed critical supply and refining capacity, pushing Brent crude to roughly $113 per barrel. As a result of these global shocks, major energy producers accumulated tens of billions of dollars this quarter while consumers face steep increases in gasoline and diesel expenses. Rather than directing this capital toward new drilling initiatives, firms are routing their substantial returns directly to shareholders.

  5 min read