The iron ore and steel industry in India has urged the government to abolish import duty and GST compensation cess on coking coal, a key and expensive requirement in iron smelting, reports Business Standard. India doesn’t have good quality coking coal deposits, leading pig iron and steel manufacturers to lean heavily on imports. At the […]
Foreign Direct Investment (FDI) to India grew by 6 per cent to $42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities, according to a UN report that ranked India among the top 20 host economies for FDI inflows in 2017-18. The World Investment […]
India’s imports of liquefied natural gas (LNG) for the month of April 2019 was 2502 million metric standard cubic metres (MMSCM), an increase of 9.7 per cent over the corresponding month of the previous year, according to latest data from the Petroleum Planning & Analysis Cell and Ministry of Petroleum and Natural Gas. The increase […]
The most divisive mining project in recent Australian history can finally break ground after the state of Queensland cleared the final regulatory hurdle on Thursday for Adani Group’s Carmichael coal mine. The approval of the project’s groundwater management marks the end of an almost 10-year wait, during which the proposed mine faced steady resistance by environmental groups. Local […]
India’s factory production expanded in April 2019 by 3.4 per cent from a revised growth of 0.35 per cent reported for March, 2019, official data showed. However, on a year-on-year basis, April’s industrial production growth of 3.4 per cent was lower than 4.5 per cent that was achieved during the corresponding month of the previous […]
Rapaport has published a report stating that diamond markets are under pressure as profit margins have tightened and the trade war with China has fueled uncertainty. The international firm revealed that the RapNet Diamond Index, known as RAPI, for 1-carat plus diamonds fell 0.7 per cent in May and is down 1.7 per cent since […]
OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year low for the oil cartel as it struggles to control member production to keep oil prices out of the doldrums. That production route represents a decrease of […]
The centre has raised the import limit on tur dal to 4 lakh tonnes for private traders till October and asked cooperative Nafed to offload 2 lakh tonnes of the lentil in the open market, a move aimed at checking possible price rise. A decision in this regard was taken at the inter-ministerial committee meeting […]
An attack by an unknown party on two oil tankers in the Gulf of Oman has put the Arabian/Persian Gulf region on edge. After the possible Iranian attack on three vessels offshore the Emirati port of Fujairah last month, the current attack could be setting the scene for a direct military confrontation. Two tankers, the Front Altair […]
Even as the International Sugar Organization (ISO) has raised its forecast for 2018-19 global sugar surplus to 1.83 million tonnes, up from its previous estimate of 641,000 tonnes, thanks to increased production in India and Thailand as well as a diminished outlook for sugar consumption, Maharashtra and Tamilnadu in India are reporting huge output cuts […]
