Asian economies are performing better than expected. In the IMF’s latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent—in regional terms, a better outcome than other parts of the world. This is largely driven by stronger-than-expected performance among […]
Speculation now abounds that the China-led demand recovery is the start of a new energy transition-led super-cycle. The expectation is that unprecedented stimuli and synchronous global growth will sustain demand levels until the transition takes off, according to Wood Mackenzie. IAC Desk
India, the world’s second-largest sugar producer, which saw weak production during the marketing year 2019-20 due to erratic monsoons, is likely to see a 12%-14% rise in 2020-21, according to a report by Brickwork Ratings. The industry’s sugar consumption as well as sale prices are likely to improve during the new year, it said. The […]
The United States and Canada accounted for 11 per cent of India’s crude oil imports in January—a record-high share of North American crude for the world’s third-largest oil importer, Reuters reported, citing data obtained from trade sources. India’s total crude oil imports last month averaged around 4.8 million barrels per day (bpd), down from a three-year […]
Arrivals of several crops in the organised mandis have picked up ever since the Supreme Court stayed the implementation of the three contentious farm laws on 12 January, 2021, according to official data on the Union agriculture ministry’s Agmarknet portal. Of the ten major kharif crops, mandis have seen increased arrivals in five crops – […]
Ahmedabad-based Torrent Power has emerged as the highest bidder for 51 per cent stake in a power distribution company in the Union Territory (UT) of Dadra & Nagar Haveli and Daman & Diu. The company in a statement said that the acquisition of 51 per cent stake in the power distribution company (discom) is subject to […]
The Centre has plans to permit sale of 50 per cent of coal/lignite produced by captive blocks, a move aimed at augmenting the production and increasing the availability of dry fuel. The government plans to do so through incorporation of a provision in the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR). “In the […]
After a tough exports season last year, mango growers in India are looking at higher exports this year, and targeting newer markets. Malaysia and Argentina have emerged as the new markets for the Indian mango this season with exports to the Middle East expected to commence next month onwards, senior officials of the Maharashtra State […]
Fitch Ratings said it sees the proposed reorganisation plan by India’s Reliance Industries Ltd (RIL, BBB-/Stable) to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly owned subsidiary, Reliance O2C Limited (O2C), as a step towards facilitating participation by strategic investors in its O2C businesses. “We anticipate the reorganisation will have a neutral […]
We live in unprecedented times. As the world’s population grows and industrialization takes hold in more corners of the world, climate change is accelerating, and, in response, humanity’s concern for our planet’s health is growing. The teenage activist Greta Thunberg put it best: “I want you to act as if the house is on fire, […]
