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Trump’s Tariffs on Canadian Crude Could Shift Trade Dynamics, Says IOC Chairman

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US President Donald Trump’s anticipated decision to implement tariffs on Canadian crude oil imports could potentially alter trade patterns, according to Arvinder Singh Sahney, chairman of the Indian Oil Corporation (IOC), speaking on Wednesday.
In a discussion with a news agency, he stated that India’s upcoming decisions will be guided by its commercial interests.
“If these tariffs are enacted, we can expect a shift in crude oil trade flows… Our choices will depend on our positioning within the broader context and our business priorities,” Sahney remarked.
He also noted that these tariffs would primarily impact trade balances rather than the global oil market prices.
Sahney observed that, although India already imports a limited amount of crude from the US, there might be a small increase in these purchases.
Additionally, he highlighted the potential rise in crude imports from Guyana, a new player in oil production, as it continues to develop its reserves in the coming years.
“If these tariffs take effect, there may also be a chance that restrictions on Venezuela could be lifted, which would bring Venezuela into the mix… Moreover, Brazil might also enter the market,” he added.
Regarding the importation of Russian crude oil, the IOC chairman stated, “There is no embargo on Russian oil or energy supplies. The key point is that we cannot engage with sanctioned entities… Provided that the insurance and transportation for Russian oil are compliant and that we source from unsanctioned suppliers, we are open to transactions with them… These transactions are not long-term agreements; we are purchasing on a spot basis… I anticipate that prices will hover around USD 75-80 per barrel for crude oil…”
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Business

Leksa Lighting Technologies Named among India’s Top 100 MSMEs

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Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

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What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

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Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

 

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Vehicle Prices to Increase from August 1

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New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

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READ MORE:Bhava Sangama Devotional and Patriotic Song Competition Concludes in Mangaluru

The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.

 

 

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Chicken and Egg Prices Rise Shocked Non-Veg Lovers

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Business: Non-vegetarian food lovers are facing a big shock as chicken and egg prices have increased sharply over the past week.

The price of chicken has gone up significantly, making it expensive for many families. Fresh fish is also unavailable in coastal areas because fishing activities have been suspended.

The main reason for the price hike is the slow growth of chickens, which has reduced supply. At the same time, more chicken is being supplied to other states, resulting in lower availability in the local market.

READ MORE: Mangaluru Man Goes Missing After Leaving for Hong Kong Trip

Egg prices have also increased. An egg that cost Rs.7 to Rs.7.50 three days ago is now priced at ₹9.

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Similarly, the price of chicken has risen from Rs.300 per kg to Rs.360 per kg.

Traders say prices may come down once the supply improves. Until then, the increase is expected to put an extra burden on consumers.

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