Daily Masala

Here is what others are talking about this morning:

Oil falls to its lowest since 2003 as Iran sanctions are lifted

Oil prices hit their lowest since 2003, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country.

Asian shares skid to 2011 levels as oil slump intensifies

Asian shares slid to their lowest levels since late 2011 after weak U.S. economic data and massive falls in oil prices stoked further worries about a global economic downturn.

Tata Steel to cut 1,050 jobs in Britain – Sky News

Tata Steel, the biggest steelmaker in Britain, will axe 1,050 jobs in the country, Sky News reported, on top of the 1,170 cuts it announced last year due to low steel prices.

Iran Kicks Off Plan to Boost Oil Exports as Sanctions Lifted

Iran is beginning efforts to boost oil production and exports amid a global supply glut after the removal of sanctions that shackled its economy and capped crude sales.

NCDEX told to discontinue forward trading contracts

In contrast to market expectations of liberalising commodity trade, the market regulator SEBI has directed NCDEX to discontinue forward trading contracts.

MCX copper resumes downtrend

Last week, the copper futures contract traded on the Multi Commodity Exchange (MCX)tumbled 4.7 per cent, breaking a key support at ₹304 per kg. The contract continued is continuing its downward journey this week as well and has slumped 2.5 per cent so far.

NCDEX launches app to book warehouse space

In a bid to end warehouse service providers (WSP)  favouritism and bring much needed transparency in warehouse operations, NCDEX launched an mobile application through which traders can book warehouse space in advance before the commodity is transported for dematerialisation .








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