Monday☕️

03 Apr 2023 — 4 min read

Trending:

Markets/Economies:

India:

India and Malaysia can now conduct trade using Indian Rupees (INR) as well as other existing currencies. India is also offering Rupee trade settlements for international trade instead of the USD.
This change occurred after the Reserve Bank of India decided in July 2022 to permit international trade settlements in INR.
The RBI's goal is to promote global trade growth and support the worldwide trading community's interest in using INR.

OPEC:

Yesterday, OPEC (Organization of the Petroleum Exporting Countries) announced a reduction of around 1.16 million barrels per day (with Saudi Arabia cutting 500k out of the 1.6m), which will be in effect from May until the end of 2023.
Current OPEC members: Algeria, Angola, Nigeria, UAE, Libya, Congo, Gabon, Saudi Arabia, Venezuela, Iran, Iraq, Kuwait, and Equatorial Guinea.
OPEC produces around 40% of the global oil, and OPEC member exports comprise about 60% of the global petroleum trade.
The United States, China, Russia, India, Europe, and the rest of the world, while not members of OPEC, all have significant roles in the global energy landscape and interact with the organization in frequent and various ways.

SpaceX:

Yesterday, SpaceX's Falcon 9 launched the Space Development Agency’s (SDA) Tranche 0 mission to low-Earth orbit from Space Launch Complex 4E at Vandenberg Space Force Base, California.
The Tranche 0 launch refers to the first set of satellite deployments by the Space Development Agency, an agency within the United States Department of Defense (DoD).
Launch video link:

The SDA was established in 2019 with the primary objective of developing and fielding innovative technologies to ensure that the U.S. maintains an advantage in space capabilities, particularly in the face of potential adversaries.
The SpaceX Falcon 9 rocket was chosen as the launch vehicle for this mission due to its proven reliability, reusability, cost-effectiveness, and an ongoing contract with the US Department of Defense.

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