Retail inflation in India rose to about five-and-half year high of 7.35 per cent in December 2019, surpassing the RBI’s comfort level, mainly due to spiralling prices of vegetables as onions were selling costlier. The unexpected jump in inflation diminished the chances of the RBI cutting interest rate at its next monetary policy review due […]
Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters. “Non-OPEC production is very strong. We still expect production coming from, not just United States, but also Norway, Canada, Guyana, among other countries,” Birol said, adding “Therefore, I […]
Investment in battery manufacturing plants and electric vehicle factories continues to boom around the world, but for now the market for lithium shows no signs of emerging from a four-year slump. Prices for the raw material used in lithium-ion batteries fell again at the end of last year, according to the December price assessment released […]
Top Indian coal-fired power generators Adani Power and NTPC Ltd have sought two-to-three-year extensions of deadlines to install emissions-cutting equipment at some plants, according to documents reviewed by Reuters, even as the country battles rampant pollution. The requests mean the two biggest power producers in India are pressuring the government to delay emissions targets for […]
In a bid to attract investments and boost coal production, the government approved promulgation of an ordinance to open up the coal mining sector further by allowing non-coal companies to take part in auctions without end-use restrictions. The Centre also gave its nod for concluding auction of iron ore and other mineral mines before the […]
Showing no signs of improvement, the output of eight core infrastructure industries contracted for the fourth consecutive month in November by 1.5 per cent, according to official data. Since August, the eight core industries are recording negative growth. The output of coal, crude oil, natural gas, steel, and electricity declined by 2.5 per cent, 6 […]
State-owned Coal India Limited allocated 16.95 million tonnes (MT) of the dry fuel coal under special forward e-auction to the power sector in the April-November period of this fiscal, down 22.6 per cent over the year-ago period. Coal India (CIL) had allocated 21.91 million tonnes (MT) of coal in the April-November period of 2018-19, according […]
The Indian government has discussed measures to reduce dependency on Gulf for meeting its oil demand with the global oil supplies anticipated to get disrupted in the wake of the killing of Iranian commander, General Qassem Soleimani, in a US drone strike in Baghdad. Following the death of Iran’s top commander, senior officials of the […]
The year 2019 has been a rollercoaster ride for commodities market, however, we are ending on a promising note. Reuters/CRB commodities index has gained 10 per cent this year, the highest since 2010. Palladium tops the list of gainers and has risen more than 55 percent. Some of the other best performing commodities which have […]
“Iran would have earned $200 billion surplus income…if the country were not involved in an economic war,” President Hassan Rohani made the comments while launching a railway project near Tehran on December 31. The United States imposed new sanctions against Iran after Washington abandoned the 2015 nuclear deal in which Iran agreed to curb its controversial nuclear […]
