'Maybe they'll be selling oil to India some day': US, Pakistan strike 'massive reserves' deal; Donald Trump hints at future exports
"We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves," he said in a post on TruthSocial.
"We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they'll be selling Oil to India some day!" he added.
Earlier, Trump said that the US was in trade negotiations with India, noting that India's Brics membership was an important consideration.
He mentioned that India was ready to make significant tariff reductions and hinted that more details would be revealed by the end of the week.
"We are negotiating right now and it's also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of that...It is an attack on the dollar and we are not going to let anybody attack the dollar. So it's partially BRICS and it's partially trade...We
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Do You Remember Her? Take A Deep Breath Before Looking At Her Now.
Fab Pop
Undo
had a tremendous deficit,' he said.
Since February 2022, Indian refiners have been snapping up discounted Russian oil, taking advantage of lower prices as many global buyers avoided Russian crude due to Western sanctions following the Ukraine invasion. Russia now supplies about a third of India's oil imports, a sharp rise from under 1% before the conflict.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
14 minutes ago
- Deccan Herald
India very close to China in purchasing Russian oil, you are going to see so much secondary sanctions: Trump
The United States has imposed this additional tariff or penalty for Russian imports only on India, while other buyers, such as China and Turkiye, have so far escaped such measures.
Hindustan Times
14 minutes ago
- Hindustan Times
Gold steady amid Trump's 100% tariff threat on chip imports and trade tensions
Gold held a moderate loss, as traders looked past uncertainty created by US President Donald Trump's latest trade moves, including threatening a 100% tariff on chip imports. Traders also watched for Trump's nomination within days of a temporary Federal Reserve governor who is expected to be more aligned with his agenda to ease monetary policy.(AFP File Photo) Bullion was steady around $3,370 an ounce after a 0.3% decline in the previous session. This came after Trump said he would impose a 100% levy on semiconductor imports in a bid to force companies to move production back to the US. Meanwhile, relations with key trade partners soured, with the US leader doubling the tariff on Indian goods to 50% over the South Asian country's continued purchases of energy from Russia. Japan may also face higher duties than agreed last month on some products, Kyodo reported. Traders also watched for Trump's nomination within days of a temporary Federal Reserve governor who is expected to be more aligned with his agenda to ease monetary policy. Lower rates benefit gold, which doesn't yield interest. The precious metal's recent rally has been driven by rising expectation of rate cuts. Central bank buying and a broad trend of diversifying away from US dollar-denominated assets have also offered support. It's climbed nearly 30% this year, though the bulk of its gains happened in the first four months, as geopolitical and trade tensions rattled the market. Gold was 0.1% higher at $3,373.45 an ounce as of 8:42 a.m. in Singapore. The Bloomberg Dollar Spot Index was steady. Silver, palladium and platinum all rose.
&w=3840&q=100)
Business Standard
14 minutes ago
- Business Standard
All Time Plastics IPO opens today; GMP up 9%; should you subscribe?
All Time Plastics IPO: The initial public offering (IPO) of plastic houseware products company, All Time Plastics, will open for public bidding today, August 7, 2025. At the upper end of the price band of ₹260 to ₹275, the company aims to raise ₹400.6 crore. The mainline offering comprises a fresh issue of 10.2 million equity shares and an offer for sale (OFS) of 4.4 million shares. Kailesh Punamchand Shah, Bhupesh Punamchand Shah, and Nilesh Punamchand Shah are the promoter selling shareholders. On Wednesday, August 6, the company raised ₹119.9 crore from 12 institutional investors through an anchor book. The investor Sunil Singhania's Abakkus-backed company has allotted 4.36 million equity shares to 12 funds at ₹275 per share. Ashoka India, Canara Robeco Mutual Fund, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama, Gagandeep Credit Capital, and ABSL Umbrella UCITS Fund were the institutions that participated in the anchor, according to an exchange filing. All Time Electronics IPO grey market premium (GMP) The unlisted shares of All Time Plastics were trading at ₹300 in the grey market, up ₹25 or 9 per cent from the upper end price, according to sources tracking unofficial market activities. Should you subscribe to the All Time Plastics IPO? Anand Rathi Research - Subscribe for long term Analysts at Anand Rathi believe that All Time Plastics operates strategically located, fully integrated manufacturing facilities that enable cost-effective, large-scale production of high-quality plastic consumer products. The company has built long-standing relationships with global retailers such as IKEA, Asda, Michaels, and Tesco, as well as leading Indian retail chains. In addition, the company follows a strict landfill-free policy, ensuring all operational waste is recycled, reused, or repurposed, reflecting its dedication to environmental responsibility. "At the upper price band, the company is valued at P/E of 36.1x to its FY25 earnings, with EV/Ebitda of 19.8x and market cap of ₹1,801.3 crore post issue of equity shares," the brokerage said in a note. Anand Rathi has assigned a 'Subscribe-Long Term' rating to the IPO, adding that the issue is fully priced. Here are the key details of the All Time Plastics IPO: All Time Plastics IPO is available at a price band of ₹260 to ₹275 per share, with a lot size of 54 shares. Accordingly, investors can bid for a minimum of one lot or 54 shares of All Time Plastics and in multiples thereof. The minimum amount required by a retail investor to bid for the IPO is ₹14,850 at the upper end price. A retail investor can bid for a maximum of 13 lots or 702 shares, amounting to ₹1,93,050. The three-day subscription window to bid for the issue will conclude on Monday, August 11, 2025. Following the closure of the subscription window, the basis of allotment of shares is likely to take place on Tuesday, August 12, 2025. Shares of All Time Plastics are scheduled to make their D-street debut on Thursday, August 14, 2025, by listing on the BSE and NSE. Kfin Technologies is the registrar of the issue. Intensive Fiscal Services and DAM Capital Advisors are the book-running lead managers. According to the red herring prospectus (RHP), the company aims to utilise the net fresh issue proceeds for repayment/prepayment of certain outstanding borrowings availed by itself and the material subsidiary, Electronics Bazaar FZC. The remaining funds will be used for general corporate purposes.
