Around 100 people protested fuel price hikes and a free meals scheme in Surabaya, Indonesia. Demonstrators threw rocks and set fires, leading to dozens of arrests by police.
Opposition parties in India, including Congress and AAP, have strongly criticized the Modi government for recent increases in petrol and diesel prices. They accuse the government of "fuel loot" and burdening citizens despite stable international crude oil prices, questioning why India isn't buying cheaper oil from Russia and Iran.
CNG prices in Delhi-NCR increased by ₹1/kg to ₹80.09, following a ₹2 hike two days prior. Petrol and diesel prices also rose by ₹3/litre amid global energy price volatility.
Rolling coverage of the latest economic and financial newsLondon’s stock market is sliding at the start of trading.The FTSE 100 index has dropped by 67 points, or 0.65%, to 10,209 points.“We are actively managing the uncertainty created by the fuel price increase and its impact, taking the necessary action on yields, costs and capacity. We currently see no issues with fuel availability in our main markets, particularly as we benefit from our investment in fuel self-supply at our hubs.Whilst the impact of the higher fuel price will inevitably lead to lower profit this year than we originally anticipated, we are confident in our business model and strategy, which has made us one of the best-performing airline groups in the world, and which gives us the opportunity to prove our resilience. This confidence means we are on track to continue with the remaining €1 billion return of excess cash. Continue reading...
