Daily Masala

Here is what others are reporting this morning:

Bank of Japan stuns markets with negative interest rate surprise

The Bank of Japan unexpectedly cut a benchmark interest rate below zero, stunning investors with a move aimed at shielding the country’s sluggish economy from volatile markets and slowing global growth.

What’s Not to Like About Cheap Oil? 

“For anyone consuming oil, lower oil prices are a tax cut,” said U.S. Secretary of the Treasury Jacob Lew at the World Economic Forum in Davos.

 Glencore Said to Store Oil at Sea Off Singapore in Contango Bet

 Glencore Plc is said to be storing oil on ships off the coast of Singapore and Malaysia as a market structure known as contango allows traders to benefit from holding on to supplies for sale later.

European steel market crisis hits global operations of Indian firms like Tata Steel, ArcelorMittal

The crisis in the European steel market seems to be taking a toll on the global ambitions of Indian producers

Flour millers ask government to scrap 25% import duty on wheat

Flour millers in India have asked the government to scrap the 25 per cent import duty on wheat from April due to worries over a fall in output in 2016-17.
Wheat acreage down 4.4%, pulses’ nearly 3% this season

Wheat sowing in India has declined by 4.4 per cent in the winter season so far to 292.52 lakh hectares, while area under pulses is down by 2.74 per cent.

Russia says studying proposal for global oil production cuts

Russia said that OPEC had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help reduce a glut of crude and prop up sinking prices.


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