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RIYADH, Saudi Arabia: Like other Saudi women, Fahda Fahd couldn''t legally drive until 2018, but her lime-green Kia is now a route to extra cash as living costs rise in the conservative kingdom. When she''s not working full time at a health care call center, the 54-year-old picks up fares in the capital Riyadh from a ride-hailing app exclusively for women. Fahd said her family was supportive of her second job, on two conditions: no long trips or men as passengers. "I decided to work as a taxi driver to earn extra income," said Fahd, wearing a black head covering and an anti-coronavirus face mask. "My salary is not enough for my three children and especially for my daughter who has special needs," she told Agence France-Presse (AFP). Sweeping social reforms, including lifting the infamous ban on women driving, have transformed life for many Saudis, but rising costs are increasingly problematic. Fahd says her salary of 4,000 Saudi riyals ($1,066) a month from her regular job is not enough — but driving brings in another 2,500 riyals.

The price of petrol bottomed out in early 2020 during Aotearoa’s first lockdown, but in just two years it’s shot up to over $3 a litre – the highest it’s ever been. The Detail looks at why. The price of petrol keeps going up and up, and it''s unlikely to get better any time soon. Infometrics principal economist Brad Olsen says there''s no single reason why we''re paying more to fill up our cars - and it can depend on factors such as taxes, rebounding economic activity and shortages caused by Russia''s invasion of Ukraine. What makes up the price of petrol we pay at the pump? About half of what you pay for a litre of petrol is derived from taxes, Olsen says. “You’ve got a few of them: the fuel excise duty, which is charged on every litre of fuel. “You’ve got the likes of the local authority fuel tax – in Auckland you’ve got the regional fuel tax – you’ve got GST and you’ve also got the emissions trading scheme, and that’s risen to be about six-odd percent of the total cost of fuel.” About 40 percent of the price of a litre of petrol comes from importers buying the actual product, crude oil, and shipping and transport costs, while about 10 percent is the margin retailers make.

BJP''s landslide victory in four states including Uttar Pradesh set the tone for recovery amid the ongoing geopolitical worries between Russia and Ukraine and rising crude oil prices. Benchmark indices - BSE Sensex and Nifty50 Index- gained over 2 per cent each, whereas midcap and smallcap indices surged 3 per cent each. All the sectoral indices advanced during the week gone by.

Representative image As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India’s GDP forecast for the fiscal year beginning April 1 by…

The government has made every effort to regain Iran''s oil share in the market and to increase it, Xinhua news agency quoted Mehr as saying to local media.

As per Stanley, India is impacted through three key channels such as higher prices for oil and other commodities; trade, and tighter financial conditions, influencing business/investment sentiment.

“The recovery will continue but persistently high oil prices could cause some moderation in growth,” the economist added.

The federal government is under pressure to reduce its fuel tax to ease the burden of rising petrol prices. South Australian Premier Steven Marshall has written to the Prime Minister, asking for action in the upcoming federal budget. Average unleaded prices have increased to $2.20 a litre and could reach $2.50 a litre within weeks.

As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India''s GDP forecast for the fiscal year beginning April 1 by 50 basis points to 7.9 per cent, raised retail inflation projection to 6 per cent and expects current account deficit to widen to 3 per cent of GDP. India is also affected by tighter financial conditions influencing business/investment sentiment.

India Business News: As higher oil prices torpedo economic recovery worldwide, Morgan Stanley has cut India''s GDP forecast for the fiscal year beginning April 1 by 50 basi

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has blamed diesel scarcity on the recent clampdown on illegal refineries in the country. According to the association, the illegal oil facilities were producing diesel in manageable volumes for the market, which reduced the cost of locally produced diesel when compared to the imported product. BizWatch Nigeria understands that as of Friday, March 11, 2022, a litre of diesel was sold for N655. Continue reading Marketers Blame Diesel Hike On Clampdown On Illegal Refineries at BizWatchNigeria.Ng.

Amid an exodus of Western European and U.S. companies from Russia, Chinese businesses are seeking to take their place, Bloomberg reported this week, citing unnamed sources in the know. It was only a matter of time, really. Nature abhors a vacuum, and so does business. Chinese business, in addition to this, is quite pragmatic, unlike …

The Kremlin''s all-around invasion of Ukraine has heavily stirred fear of a global economic impact with expenses rising to skyrocket level especially crude oil and energy prices.

UK Prime Minister Boris Johnson is expected to travel to Saudi Arabia next week for talks about oil with Crown Prince Mohammed bin Salman. MP''s are calling on the Prime Minister to persuade the Saudis to release more oil to ease Britain''s cost of living crisis.