Oil

Indian tea producers likely to be hit by Iran-Lanka tea-for-oil barter pact

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Iran-Sri Lanka tea-crude oil barter agreement will likely affect India’s declining tea exports. Also read:Fall in export to Iran brews trouble for Indian tea producers UPASI (United Planters Association of Southern India ) sources said, the agreement between Iran and Sri Lanka is to procure orthodox leaves where the island nation is a major producer … Read more

Saudi Arabia’s non-oil business activity slows to 2-year low in Jan-PMI

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Non-oil business activity in Saudi Arabia grew at its weakest rate in two years last month, a survey showed on Monday, as a sharp slowdown in new order growth indicated weakening demand. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index stood at 55.4 in January, down from 57.5 in December, and the lowest … Read more