Who buys Russia’s oil?: As per Inter national energy agency(IEA), China and India imported more discounted oil from Russia. India has imported Russian oil 14% more than April .80% of the oil exported from Russia are imported by India and China.Indian purchase is almost two million barrels per day. This is mentioned in the latest report of IEA.India and China are top oil users. In May the export touched all time high . India and China accounted for almost 80% of Russian crude oil exports -IEA stated. With restrictions on export to Europe now 90% of sea borne crude is heading to Asia. This was 34% during pre war era. Indian GDP is expected to grow by 4.8% in 2023.It my grow strongly to 7% in 2025-28. India is growing faster and is the most populous country. Indian urbanisation,industrialisation and emergence of wealthier middle class will drive oil demand to more than 1 million barrels per day .
Singapore airlines going to increase stake in Air India?: Singapore Airlines denied such reports.At present it has 25.1% in Air India which it got by Vistara merger.Earlier there was report that Singapore Airlines increased its stake in Air India to about 40%.
Twitter suspends Aaron Greenspan account: Twitter has suspended the twitter account of Greenspan personal handle and the account of Plainsite. Aaron Greenspan is a vocal critic of Elon Musk, the Tesla CEO. Greenspan tracks litigation by or against companies in US . It includes Tesla and Twitter.
Foxconn shifts its focus : iphone maker is betting big on electric vehicle as the relationship between China and US sour. Chairman and boss of Foxconn said Foxconn shifts its supply chain away from China and feels Electric vehicles will drive its growth in the coming decades. Some of the production lines linked to ‘national security product’ were moved away from China to Mexico and Vietnam already.
