Oil futures rose yesterday on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel demand. Brent crude futures advanced 0.7 per cent, or 22 cents, to $29.85, […]
The Maharashtra Sugar Commissionerate has issued notices to 15 sugar factories in the state for their failure to pay the fair and remunerative Price (FRP) payments due to farmers, senior officials of the Commissionerate revealed. The FRP arrears as on date are to the tune of Rs 780 crore. According to the Sugarcane Control Act, […]
To provide some relief to people amid rising cases of Coronavirus or Covid-19 pandemic in the country, the Central Bank of India has come up with few loan schemes for the farmers and the needy. The bank has launched various schemes to offer liquidity support to the micro, small and medium enterprises or MSMEs, agriculture […]
The Government is making efforts to ensure that foodgrains are readily available for distribution in all the States for meeting their requirements under the “Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY)”. The Union Minister for Consumer Affairs, Food and Public Distribution, Shri Ram Vilas Paswan said the FCI (Food Corporation of India) has already loaded […]
India’s plans for first lithium refinery are forging ahead after Neometals Ltd. and Manikaran Power Ltd approved a feasibility study for a project that aims to supply a nation set to become the fourth-largest electric-vehicle (EV) market by 2040. The refinery will have a proposed capacity of 20,000 tons a year of lithium hydroxide, Australia’s […]
Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter. Venezuelan government officials piled some 9 tonnes of gold — an amount equal to about $500 million […]
A NITI Aayog task force (TF) has recommended a one-time increase in minimum selling price (MSP) for sugar to Rs 33/kg (from Rs 31) to unburden mills, capping of farmer’s land use for sugarcane at 85 per cent of total holding, a cess of Rs 50 per quintal (excluding exports) and cash incentive of Rs […]
Bharat Coking Coal, a unit of Coal India Ltd. (CIL), the world’s largest producer, is planning a debt-raising to meet expenses, after payment curtailments by power generators led to a cash-squeeze. The company, based in eastern Indian state of Jharkhand, is in talks with a group of banks to raise as much as Rs.700 crore […]
Globally, gold-backed ETFs (gold ETFs) added 170 tonnes – net inflows of $9.3bn (+5.1%) – in April, boosting holdings to a new all-time high of 3,355 tonnes. Assets under management (AUM) also reached a new record high of $184 billion as gold in US dollars moved higher by 5.8%. Inflows have been strong and consistent […]
Covid-19 has impacted the mining industry across the globe as governments enforce lockdowns and quarantines and companies halt operations because workers and contractors can’t get on-site due to restrictions. S&P Global Market Intelligence in a new report tallies the impact of these mine closures, showing Africa and the Americas hardest hit in terms of the number of […]
