OPEC+ to boost oil production by 548,000 barrels per day in August
The group that includes Saudi Arabia and Russia made the decision at a virtual meeting Saturday. They cited a 'steady global economic outlook' and low oil inventories.
Oil prices spiked sharply last month during the bloody, 12-day conflict between Israel and Iran but then tumbled back down as the U.S. helped broker a peace deal after dropping bombs on three of Iran's key nuclear sites.
Saudi Arabia holds significant influence in OPEC+ as the dominant member of the OPEC producers' cartel, and Russia is the leading non-OPEC member in the 22-country alliance.
Along with Saudi Arabia and Russia, the group that met Saturday is made up of Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman.
A statement said the new measures were in accordance with a December decision to put off increasing production at that time, but gradually increase it by 2.2 million barrels per day over an 18-month period starting in April and ending in fall 2026. The delayed ramp up reflected weaker-than-expected demand and competing production from non-allied countries.
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Dalai Lama, a global symbol of Tibetan culture and resistance, turns 90
DHARAMSHALA, India -- DHARAMSHALA, India (AP) — The Dalai Lama turned 90 on Sunday surrounded by thousands of followers, who thronged the Himalayan town of Dharamshala, where the spiritual leader of Tibetan Buddhism has been living in exile since fleeing Chinese rule in Tibet in 1959. He sat before a packed audience that included hundreds of red-robed monks and nuns who braved incessant rain to see him. Dressed in a traditional robe and a flowing yellow wrap, the Dalai Lama was escorted to the temple courtyard by a group of monks, as Tibetan artists beat drums and played bagpipes while senior lamas struck cymbals in his honor. The head of the democratically elected Tibetan government-in-exile, Penpa Tsering, raised the Tibetan flag as the musicians played the Tibetan anthem. Recognized worldwide in his red robes and wide smile, Tenzin Gyatso, the 14th Dalai Lama, describes himself as a 'simple Buddhist monk.' But millions of Tibetan Buddhists worship him as living manifestations of Chenrezig, the Buddhist god of compassion. The birthday party capped a week of celebrations, during which the Nobel Peace Prize winner said he plans to reincarnate after his death, ending years of speculation that he might be the last person to hold the role. He also said that the next Dalai Lama should be and recognized as per past Buddhist traditions. On Saturday, the Dalai Lama said he hoped to live until the age of 130. In the past, the Dalai Lama has said his successor will be born in the 'free world' — outside China. Many exiled Tibetans, however, fear China will name its own successor to the Dalai Lama to bolster control over Tibet, a territory it poured troops into in 1950 and has ruled ever since. China, which views the Dalai Lama as a separatist, has repeatedly said that it alone has the authority to approve the next spiritual leader of Tibetan Buddhism. It also says it will reject anyone chosen without Beijing's consent. Dignitaries including Indian Prime Minister Narendra Modi and U.S. Secretary of State Marco Rubio, sent their wishes to the Tibetan leader. Modi said the Dalai Lama has 'been an enduring symbol of love, compassion, patience and moral discipline,' while Rubio said the Buddhist spiritual leader 'continues to inspire people by embodying a message of unity, peace and compassion.' The celebration was also attended by hundreds of followers from around the world including Hollywood movie star Richard Gere. "He is the most extraordinary man to ever walk on this planet," said Gere, as the crowd broke into a rapturous applause. In a birthday message on his website on Saturday, the Dalai Lama reiterated that he was 'just a simple Buddhist monk' and that he will 'continue to focus on my commitments of promoting human values religious harmony.' The Dalai Lama was thrust onto the Tibetan throne in 1937. Soon after, Chinese troops swept into his homeland in the 1950s and crushed a failed uprising, forcing him to escape with thousands of his followers to India where he established a government in exile. Since then, he has spent more than seven decades in exile and sustained a nation in exile by managing to build a community that's kept the Tibetan culture and identity alive. The Dalai Lama has also become one of the world's most recognizable figures while leading a Tibetan diaspora through their struggle for autonomy and opposition of China's control of Tibet.
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Dalai Lama, a global symbol of Tibetan culture and resistance, turns 90
DHARAMSHALA, India (AP) — The Dalai Lama turned 90 on Sunday surrounded by thousands of followers, who thronged the Himalayan town of Dharamshala, where the spiritual leader of Tibetan Buddhism has been living in exile since fleeing Chinese rule in Tibet in 1959. He sat before a packed audience that included hundreds of red-robed monks and nuns who braved incessant rain to see him. Dressed in a traditional robe and a flowing yellow wrap, the Dalai Lama was escorted to the temple courtyard by a group of monks, as Tibetan artists beat drums and played bagpipes while senior lamas struck cymbals in his honor. The head of the democratically elected Tibetan government-in-exile , Penpa Tsering, raised the Tibetan flag as the musicians played the Tibetan anthem. Recognized worldwide in his red robes and wide smile, Tenzin Gyatso, the 14th Dalai Lama, describes himself as a 'simple Buddhist monk.' But millions of Tibetan Buddhists worship him as living manifestations of Chenrezig, the Buddhist god of compassion. Celebration capped a week of birthday events The birthday party capped a week of celebrations, during which the Nobel Peace Prize winner said he plans to reincarnate after his death , ending years of speculation that he might be the last person to hold the role. He also said that the next Dalai Lama should be and recognized as per past Buddhist traditions. On Saturday, the Dalai Lama said he hoped to live until the age of 130. In the past, the Dalai Lama has said his successor will be born in the 'free world' — outside China. Many exiled Tibetans, however, fear China will name its own successor to the Dalai Lama to bolster control over Tibet, a territory it poured troops into in 1950 and has ruled ever since. China, which views the Dalai Lama as a separatist, has repeatedly said that it alone has the authority to approve the next spiritual leader of Tibetan Buddhism. It also says it will reject anyone chosen without Beijing's consent. World leaders and celebrities sent wishes Dignitaries including Indian Prime Minister Narendra Modi and U.S. Secretary of State Marco Rubio, sent their wishes to the Tibetan leader. Modi said the Dalai Lama has 'been an enduring symbol of love, compassion, patience and moral discipline,' while Rubio said the Buddhist spiritual leader 'continues to inspire people by embodying a message of unity, peace and compassion.' The celebration was also attended by hundreds of followers from around the world including Hollywood movie star Richard Gere. 'He is the most extraordinary man to ever walk on this planet,' said Gere, as the crowd broke into a rapturous applause. In a birthday message on his website on Saturday, the Dalai Lama reiterated that he was 'just a simple Buddhist monk' and that he will 'continue to focus on my commitments of promoting human values religious harmony.' The Dalai Lama was thrust onto the Tibetan throne in 1937. Soon after, Chinese troops swept into his homeland in the 1950s and crushed a failed uprising, forcing him to escape with thousands of his followers to India where he established a government in exile. Since then, he has spent more than seven decades in exile and sustained a nation in exile by managing to build a community that's kept the Tibetan culture and identity alive. The Dalai Lama has also become one of the world's most recognizable figures while leading a Tibetan diaspora through their struggle for autonomy and opposition of China's control of Tibet . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
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How to Use MSME Certificate Download to Speed Up Your Term Loan?
Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in the economy, contributing significantly to employment, entrepreneurship, and overall growth. For these enterprises to thrive, access to financial services, such as term loans, is critical. A term loan provides businesses with the capital they need for expansion, machinery purchases, or other growth initiatives. However, a lot of MSME owners fail to realize that having their MSME certificate can expedite their loan application process. This article delves into the details of how the MSME certificate download can fast-track your term loan application and ensure smoother processing. The MSME certificate is a government-issued document that recognizes your business as a registered Micro, Small, or Medium Enterprise under the Udyam Registration system. Essentially, it serves as an identity proof for your business and gives you access to a wide range of benefits, including subsidies and priority loan approvals. When you officially register your business as an MSME, you receive a unique identification number and a digital certificate through the Udyam Registration portal. This is your ticket to availing various benefits from financial institutions and government schemes. The MSME certificate download ensures that you can quickly access and submit this document as needed during your term loan application. A term loan is a type of financial service where banks and Non-Banking Financial Companies (NBFCs) provide funds to businesses for a fixed tenure. The loan can be used for a variety of purposes, such as purchasing machinery, working capital, or growing operational capabilities. MSMEs often rely on term loans to bridge their financial needs, as these loans typically come with competitive interest rates and repayment terms suited to enterprises of all sizes. However, the traditional process of applying for term loans can be lengthy and cumbersome. Lenders require multiple documents, including proof of income, tax filings, business plans, and certifications. Often, MSME entrepreneurs face hurdles in obtaining term loans due to limited access to formal credit systems or due to gaps in documentation. This is where the MSME certificate download can act as a catalyst to streamline the application process Whether you are a micro-business struggling to finance operations or a medium enterprise eyeing market expansion, an MSME certification can provide an edge when applying for a term loan. Here's why: Lenders often prioritize loan applications from MSMEs, especially when the borrower provides a valid MSME certificate. The government mandates banks and financial institutions to extend credit facilities to registered MSMEs under favorable conditions. By downloading and presenting your MSME certificate, you position yourself as a preferred borrower. One of the major advantages offered to MSMEs is access to collateral-free loans , particularly under government schemes like the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) . , particularly under government schemes like the . The MSME certificate acts as proof of eligibility for such schemes, saving you from the stress of pledging assets as collateral. Registered MSMEs often qualify for lower interest rates on term loans. You can leverage your MSME certificate to avail interest subsidies offered under government schemes like Prime Minister's Employment Generation Program (PMEGP) or other sector-specific financial initiatives. Your MSME certificate serves as comprehensive proof of business identity, reducing the amount of supporting documentation required for loan approval. This simplifies the process and helps you bypass unnecessary hurdles. Lenders typically process MSME term loan applications faster due to government-backed assurances. Submitting your MSME certificate during the application ensures quicker background checks and validation processes, expediting your loan approval. By now, you understand the perks of using an MSME certificate to acquire term loans. But how do you actually download the MSME certificate and use it effectively? Here's a practical step-by-step guide: Before you can download your MSME certificate, your business must be registered on the Udyam Registration portal. Follow these steps to register: Visit the Udyam Registration Portal. Enter your Aadhaar number or GSTIN and personal details. Provide information about your business, such as turnover, investment in plant/machinery, and activity type (manufacturing, service, etc.). Upon successful submission, your MSME certificate will be generated. Once your registration is complete, you can download your certificate easily. Here's how to do it: Go to the Udyam Registration Portal. Click on the MSME certificate download option. Enter your unique Udyam Registration Number and registered mobile/email details. Authenticate using OTP sent to your mobile/email. Download the digital MSME certificate and save it for future use. Pro Tip: Always store the certificate in a secure location and keep it readily accessible in both soft and hard copies. Before applying for a term loan, research lenders offering MSME-friendly loan schemes. Major banks, NBFCs, and fintech platforms provide tailored term loans for MSMEs. Look for lenders who recognize the MSME certificate and offer: Competitive interest rates Flexible repayment terms Government-backed collateral-free loans Apart from presenting your MSME certificate, prepare other documents that lenders may require, such as: Business incorporation papers Tax filings and GST returns Bank account statements Business plan detailing how the term loan will be used Attach your MSME certificate to strengthen your application and showcase eligibility for MSME-specific schemes. Whether you're applying online or offline, make sure to include your MSME certificate along with the rest of the documentation. Most online term loan applications have an upload feature for official certifications—use it to share your MSME certificate download. Once your application is submitted, stay proactive in tracking its progress. Communicate with the lender regularly and provide any additional details they might require. Highlight your MSME registration benefits if there are any concerns about eligibility or loan approval. After securing the term loan, use the funds wisely according to the plan outlined in your application. Whether you intend to purchase new machinery or expand operations, efficient use of the loan will ensure profitable returns and smooth repayment. The MSME certificate download is critical for proving your business's eligibility for MSME-specific term loans and benefits. is critical for proving your business's eligibility for MSME-specific term loans and benefits. Registered MSMEs enjoy faster loan approvals, lower interest rates, and access to collateral-free loans. The process of downloading and using your MSME certificate is straightforward—once registered on the Udyam portal, you can quickly retrieve the certificate for loan submissions. Presenting your MSME certificate reduces documentation burdens and positions you as a preferred borrower. For any MSME owner looking to access funds through term loans, the MSME certificate is an invaluable asset. By leveraging the certificate, you can not only gain access to government-backed schemes but also enjoy a smoother, faster loan approval process. Whether you're a small manufacturer or a medium-sized service provider, your MSME certificate equips you to secure favorable lending terms and take your business to the next level. So, don't wait any longer—complete your Udyam registration today, download your MSME certificate, and open the doors to rapid financing opportunities! TIME BUSINESS NEWS
