IEA Lowers Global Oil Demand Growth Forecast

17 May 2024 CW Team

The International Energy Agency (IEA) has revised down its forecast for global oil demand growth in 2024, signalling a shift in the trajectory of the global oil market. This adjustment, influenced by evolving economic conditions, geopolitical factors, and changing consumer behaviours, underscores the complexities and uncertainties surrounding the energy landscape. The IEA's updated projection is anticipated to have significant implications for oil-producing nations, energy companies, and policymakers worldwide, shaping investment decisions, supply strategies, and energy transition initiatives. Amidst growing concerns over climate change and sustainability, the downward revision highlights the pressing need for diversified energy strategies and accelerated efforts towards decarbonisation. As stakeholders across the energy sector recalibrate their expectations and strategies in response to the IEA's latest forecast, the global oil market enters a period of heightened volatility and strategic recalibration, with implications for both short-term market dynamics and long-term energy transition trajectories.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..