Rubio calls India a refining superpower, says US to discuss Venezuela oil with Reliance

Economic Times - Oct 20, 2026

During his visit to India, Marco Rubio emphasized the country's refining capabilities for heavy crude oil. He noted that Indian companies have oil concessions in Venezuela, offering potential for increased production. Rubio mentioned the importance of addressing sanctions and other challenges to facilitate this collaboration. The US delegation aims to explore further cooperation on Venezuelan oil production with Indian firms.

Read full article
More News
OYO-parent PRISM to nearly halve IPO fresh issue size to up to Rs 3,350 cr: Sources
Oct 20, 2026
OYO-parent PRISM to nearly halve IPO fresh issue size to up to Rs 3,350 cr: Sources

PRISM is set to scale back its initial public offering from Rs 6,650 crore to Rs 3,350 crore in light of its robust cash flow and enhanced balance sheet. The majority of the newly structured funds will focus on repaying or prepaying debts. Moody's Ratings has adjusted PRISM's outlook to positive, anticipating growth in EBITDA. Notably, OYO's founder, Ritesh Agarwal, and SoftBank maintain substantial stakes in the venture.

MP merchant put Rs 35,000 investment in British war loan in 1917, 109 years later, UK debt office says it cannot find obligation for repayment
Oct 20, 2026
MP merchant put Rs 35,000 investment in British war loan in 1917, 109 years later, UK debt office says it cannot find obligation for repayment

A Madhya Pradesh family’s attempt to trace a Rs 35,000 investment made during World War I has hit a fresh hurdle after the UK’s Debt Management Office said it could find no evidence the 1917 Indian War Loan was a British government obligation. The family wants historical records to establish whether the money was ever repaid or settled.

Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands
Oct 20, 2026
Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands

Chief Minister DK Shivakumar highlighted the importance of collective solutions involving farmers and sugar factories. He mentioned addressing sugarcane growers' demands, such as minimum support price, through discussions. Shivakumar has sought an appointment with the Central government for drought relief. He aims to hold meetings with both farmers and sugar factory owners to resolve conflicts. Ongoing protests by farmers have disrupted the normalcy of life and delayed the crushing season.

Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands
Oct 20, 2026
Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands

Chief Minister DK Shivakumar highlighted the importance of collective solutions involving farmers and sugar factories. He mentioned addressing sugarcane growers' demands, such as minimum support price, through discussions. Shivakumar has sought an appointment with the Central government for drought relief. He aims to hold meetings with both farmers and sugar factory owners to resolve conflicts. Ongoing protests by farmers have disrupted the normalcy of life and delayed the crushing season.

France’s budget crunch: Four ways Lecornu could break the deadlock
Oct 20, 2026
France’s budget crunch: Four ways Lecornu could break the deadlock

French Prime Minister Sebastien Lecornu's government is preparing for a contentious budget season ahead of elections. The opposition parties are increasing their resistance to proposed deficit-cutting plans. Budget discussions in parliament have faced numerous delays and amendments, complicating passage. If the budget is not approved within 70 days, emergency legislation may be needed. The overall outcome could significantly impact investor confidence and the government's financial strategy.

French bond yields near 24-year high as new protests loom
Oct 20, 2026
French bond yields near 24-year high as new protests loom

As ongoing protests grip France, the yields on government securities, known as OAT, have surged to a peak not seen in over 24 years. Both Marine Le Pen and Jean-Luc Melenchon lead polling efforts, presenting hurdles for any potential fiscal reforms. Such public demonstrations illustrate the persistent opposition any administration encounters while trying to enact essential reforms.

Number of branded housing projects in India set to jump over 2-fold in 6 years: Savills
Oct 20, 2026
Number of branded housing projects in India set to jump over 2-fold in 6 years: Savills

Real estate firms in India are anticipating a significant increase in branded residences by 2032. A report suggests nearly 25 ultra-luxury housing projects will be completed in this period. Major developers have partnered with renowned brands to cater to the super-rich market. The demand for these residences is driven by rapidly increasing wealth among high-net-worth individuals. This trend reflects changing consumer expectations for quality and lifestyle within the luxury segment.

Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
Oct 20, 2026
Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy

External Affairs Minister S Jaishankar and UAE’s Sheikh Abdullah bin Zayed Al Nahyan discussed regional concerns in West Asia. Jaishankar emphasized India's commitment to promoting peace through dialogue and diplomacy during their meeting. The Comprehensive Economic Partnership Agreement between India and the UAE has significantly boosted bilateral trade and investment. Both countries continue to enhance cooperation in various sectors, including defense and technology.

Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
Oct 20, 2026
Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy

External Affairs Minister S Jaishankar and UAE’s Sheikh Abdullah bin Zayed Al Nahyan discussed regional concerns in West Asia. Jaishankar emphasized India's commitment to promoting peace through dialogue and diplomacy during their meeting. The Comprehensive Economic Partnership Agreement between India and the UAE has significantly boosted bilateral trade and investment. Both countries continue to enhance cooperation in various sectors, including defense and technology.

US Stocks: 3M lifts annual profit forecast on cost controls, price hikes
Oct 20, 2026
US Stocks: 3M lifts annual profit forecast on cost controls, price hikes

3M has revised its profit outlook for the year, expecting a boost in adjusted earnings per share. Their quarterly revenue reflects growth thanks to the safety and industrial segment. Strong industrial demand and sales increases in targeted markets are contributing factors. Despite hurdles in some consumer areas, 3M is successfully unveiling innovative products while focusing on improving customer service and operational efficiency for sustained growth.

US Stocks: GE Aerospace raises 2026 profit forecast as services strength drives growth
Oct 20, 2026
US Stocks: GE Aerospace raises 2026 profit forecast as services strength drives growth

GE Aerospace has increased its 2026 adjusted earnings forecast due to continued demand for engine maintenance. The demand for spare parts remains high, which supports their financial outlook. Airlines are facing rising fuel costs due to disruptions in oil supply and are adjusting their capacity accordingly. Despite potential pressures on flight schedules, GE Aerospace's revenue from services is expected to remain strong.

OYO-parent PRISM to nearly halve IPO fresh issue size to up to ₹3,350 cr: Sources
Oct 20, 2026
OYO-parent PRISM to nearly halve IPO fresh issue size to up to ₹3,350 cr: Sources

Reduction in the issue size follows continued strong cash generation and an improving balance-sheet position, which lowered the amount of capital the company needs to raise compared with what was originally envisaged, sources said.

Recommended
Copyright © 2015 - 2026 The Financial Capital.

All Rights Reserved.

Subscribe Now!

About Us

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.