Daily Masala

Here is what other are talking about this morning:

U.S. crude edges away from 2009 lows; huge storage glut means outlook remains bleak

U.S. oil prices edged away from 2009 lows in early trading on Thursday but overall market sentiment remained extremely bearish due to huge unused amounts of petroleum sitting idle in storage tanks and as China’s economy was showing no signs of recovery.

Flight to safety keeps gold near 7-wk high as stocks retreat

Gold traded near a seven-week high on Thursday as investors channelled money into the safe-haven metal amid a global stock market rout, worries over the Chinese economy and heightened geopolitical tensions.

China goes underground to expand its strategic oil reserves

China is building underground caverns capable of holding up to a quarter of its expanded strategic oil reserves by 2020, as it looks for new storage methods away from expensive and exposed above-ground tanks in crowded coastal regions.

World’s Cheapest Crude Hits Record Low as Oil Slump Deepens

A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production going offline.

India Inc seeks tax reduction roadmap, sops for start-ups

Finance Minister Arun Jaitley stressed that the Centre would expand public spending even in 2016-17 despite the additional financial implications, including the implementation of the One Rank, One Pension and Seventh Pay Commission report.

Mining Woes Deepen With Worst Start in a Decade as Metals Slide

It’s already a rough 2016 for mining companies that are suffering through their worst start to a year in almost a decade. The Bloomberg World Mining Index has fallen 5.3 percent since Dec. 31, the biggest such drop since 2007.

Farm suicides, price crash puts potato off the boil in Bengal 

A bumper crop leading to price crash and subsequent farm suicides in 2015, may have impacted the potato cultivation in the current season. At least 16 farm suicides were reported last year after the price of tuber crashed below ₹2 a kg.

 

 

 

 

 

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