Sri Lanka is currently experiencing major fuel shortage along with the worst inflation since gaining independence in 1948. The shortage of foreign exchange has resulted in food and fuel shortages in the past few months but there is some good news for the struggling island nation.

Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to battle crisis

India's main stock indexes ended higher for the first time this week on Thursday, driven by gains in banking and energy stocks. The NSE Nifty 50 index closed 0.6 per cent higher at 12,180.

Sensex, Nifty end higher on banks, energy stocks

Indian shares settled slightly higher on Friday, paring most of the gains made during the day as investors booked profits going into the weekend, with the broader Nifty 50 index posting its first weekly loss in three weeks The NSE Nifty 50 index closed up 0.

Sensex, Nifty trim gains, close marginally higher

Indian Oil Corp Ltd, the country's top refiner, posted an 82.7 per cent slump in second-quarter profit on Thursday, missing estimates widely, due to higher inventory losses and lower refining margins.

Indian Oil profit tanks 83% as refining margins shrink

The government has plans to raise as much as 3.25 trillion rupees in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation's biggest privatisation push in more than two decades.

Government seeks to raise $47 billion from stake sales in state firms over five years: Sources

Shares of the company rose 3.8 percent to 414.85 rupees in a broader Mumbai market

IOC third-quarter net profit surges, beats estimates

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