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OPEC announces big cut in oil production

OPEC+ said on Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the Covid-19 pandemic, media reports said.

JPMorgan declines to include India in widely-followed bond index

JPMorgan has declined to include India in a widely-followed bond index until at least next year after investors raised concerns about the domestic markets ability to handle the large volume of capital inflows expected to follow the move, a media report said.

India emerges as the world’s largest producer, consumer of sugar

In sugar season (October-September) 2021-22, a record over 5,000 lakh metric tons (LMT) of sugarcane was produced in the country, out of which about 3,574 LMT was crushed by sugar mills to produce about 394 LMT of sugar (sucrose). Out of this, 35 LMT sugar was diverted to ethanol production, and 359 LMT sugar was produced by sugar mills.