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India plans to cut oil imports from Iran, say officials

India is looking at slashing oil imports from Iran, and replacing them with more purchases from Saudi Arabia and Kuwait after US re-imposed sanctions on the Persian Gulf nation, government and industry officials said on Thursday. While a final view on US asking India and China to cut Iranian oil imports has not yet been taken, the petroleum ministry has asked refiners to tread cautiously and start looking at alternatives, they said. Bringing down imports to zero, as desired by the US, may however not be feasible, officials said. The…

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Coinshares Group Plans to Launch New Crypto-Investment Funds

This week the firm Coinshares Group has announced two new investment vehicles tethered to cryptocurrencies. Coinshares was the first organization to launch publicly traded bitcoin and ethereum-based exchange-traded-notes (ETN), and the firm’s new funds will offer retail investors more “familiar channels” to invest in the growing digital asset economy. Two New Coinshares Crypto-Investment Funds: The ‘Active’ and ‘Large Cap’ Coinshares is well-known for it’s Bitcoin Tracker One ETN listed on Nasdaq OMX. Coinshares Group is a well-known company that offers two globally traded ETNs based on the decentralized cryptocurrencies bitcoin (Bitcoin…

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Indian Angel Network plans investment in around 150 startups

NEW DELHI: Venture capital consortium Indian Angel Network (IAN) is looking to invest in about 150 start-up firms in coming 4-5 years, a co-founder of the investment group said. “We have made six commitments as of now. In next 4-5 years, we have plans to invest in 100-150 firms,” said IAN co- founder Saurabh Srivastava. He said there is no shortage of funds at IAN and investors are looking at right opportunities. “We have funded in range of half a million to a million. Some has been to the tune of 3…

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Andhra Pradesh govt plans to connect Amaravati and Vijayawada with Hyperloop

Having junked the proposed metro project from Vijayawada to Amarawati, the Andhra Pradesh government is planning to introduce Hyperloop — the mode of transportation invented Tesla and SpaceX founder Elon Musk — that will connect the two cities. This will supposedly cover the distance of over 35 km between the two cities only in five minutes. Hyperloop project has not been implemented for practical use anywhere in the world yet. The AP Economic Development Board (AP-EDB) and the US- based Hyperloop Transportation Technologies (HTT) signed the memorandum of understanding (MoU)…

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Shell plans 400 job cuts at Dutch projects and technology department

 Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters. The world’s second-largest oil company by market capitalization said in a statement responding to questions from Reuters that “approximately 400 (staff) are potentially at risk of redundancy during the last quarter of 2017/first half of 2018”. That represents around a quarter of the roles at…

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US News ranks best diet plans for 2017

An estimated tens of millions of Americans will hit the gym and purge their pantries this month in hopes of slashing pounds and improving their health for the new year. But the diet plan they pick may influence their success. That’s where U.S. News & World Report’s Best Diets list aims to help. The consumer advice website has released its annual report on what it deems the 38 best diet plans across nine categories, including those programs that are ideal for fast weight loss and healthy eating, as well as…

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