Industrial production growth in India slowed to 6.7 percent on an annual basis last September, affected by the decline in the pace of growth in the manufacturing and electricity sectors, and the contraction in mining activity, according to government data issued on Wednesday.
The growth was below the expectations of economists polled by Reuters, amounting to 7.3 percent, and was also lower than the revised increase of 7.8 percent recorded in August.
In the manufacturing sector, production rose by 7.6 percent year-on-year during September, compared to an adjusted growth of 8.6 percent during the previous month. Also, electricity generation growth slowed to 11.2 percent, compared to 12.3 percent in August.
On the other hand, the contraction in mining activity deepened to 6.2 percent on an annual basis, compared to an adjusted decline of 4.6 percent during the previous month.
In terms of consumer goods, production of durable goods, including cars and phones, increased by 6 percent during September, compared to a revised increase of 10.5 percent during August. As for non-durable goods, such as food and hygiene supplies, their production recorded a growth of 1.4 percent, after a decline of 1.1 percent during the previous month.
Production of capital goods also rose by 10.4 percent year-on-year, compared to a revised increase of 15.9 percent in August.
Over the period from April to September, industrial production grew by 6.8 percent, compared to 4.4 percent during the same period of the previous year.
Equinor said, on Wednesday, that it achieved its highest quarterly profits in nearly four years, supported by the sharp rise in oil and gas prices in light of the continued disruption of global energy supplies against the backdrop of the Middle East war.
Adjusted pre-tax profits for the Norwegian group for the period from July to September increased to $12.4 billion from $6.2 billion in the previous year, exceeding expectations of $12.19 billion in a poll of 21 analysts prepared by Equinor.
These profits are the highest since the last quarter of 2022.
Equinor now expects its oil and gas production to rise by about 4 percent this year, an increase from the 3 percent growth rate it had previously expected.
Shares of the Norwegian group, in which the state owns a majority stake, have risen by 86 percent since the beginning of the year, and have traded at their highest levels ever during the past few weeks.
Equinor produced 2.17 million barrels of oil equivalent per day in the third quarter, exceeding analysts’ expectations of 2.13 million barrels of oil equivalent per day, and up from 2.13 million barrels of oil equivalent per day a year ago.
The Saudi Arabian Mining Company “Maaden” appointed Yasser Al-Rumayyan as Chairman of the Board of Directors, and Khaled Al-Mudaifer as Vice-Chairman, within the new formations of the Board for the session that began on October 25, 2026, and will continue for three years until October 24, 2029.
The company said, in two disclosures to the Saudi Stock Exchange (Tadawul), on Wednesday, that the Board of Directors decided to appoint Effat Badeeb as Secretary of the Board, in addition to forming Board committees, in accordance with decisions issued by circulation on October 27 of this year.
The formation of the Nominations and Remuneration Committee included the appointment of Ahmed Al-Haqbani as Chairman, and Abdullah bin Juma, Anne Christine Andersen, and Muhammad Al-Daoud as members.
The Executive Committee was also formed, headed by Muhammad Al-Qahtani, and membership of Khaled Al-Mudaifer, Richard O’Brien, Ahmed Al-Saadi, and Muhammad Al-Dawoud.
In the Risk, Safety and Sustainability Committee, Ahmed Al-Saadi was appointed Chairman, with Abdullah Bin Jumaa and Anne Christine Andersen as members.
In a separate announcement, Ma'aden revealed the formation of the audit committee headed by Manar Al-Munif, with the membership of Ahmed Al-Haqbani, Richard O'Brien, Mike Cheng, and Muhammad Al-Arifi, with the committee to carry out its duties until the end of the current session of the Board of Directors on October 24, 2029.
