New energy economy emerging, but not quickly enough to reach net zero by 2050, says IEA

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A new energy economy is emerging around the world as solar, wind, electric vehicles and other low-carbon technologies flourish, but this clean energy progress is still far too slow to put global emissions into sustained decline towards net zero, the International Energy Agency (IEA) said in its new World Energy Outlook. “The world’s hugely encouraging clean […]

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Revenue of India’s gold jewellery retailers seen up 12-14% this fiscal – report

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After two consecutive years of decline, revenue of gold jewellery retailers is poised to grow 12-14% on-year this fiscal, driven by stable gold prices and recovery in discretionary spending, including on wedding and festive jewellery, ratings agency CRISIL said in a note. Operating margin, though, will be restored to the pre-pandemic level of 6.5-7.0%, with […]

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India staring at new inflationary challenges as oil prices rise and demand returns

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The recent increase in global crude oil prices is creating immediate short- and mid-term challenges for India as it emerges from a second wave of the Covid-19 virus to find pump prices at record highs that could impact both inflationary pressures and the economy. Global crude prices were touching $75/barrel this week – up 33% […]

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COMMENT – Colonial Pipeline hack: Implications for the future, lessons from the past

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Forecasts tell you a lot about the forecaster, but they don’t tell you anything about the future or in the case of commodities the grammatically weird plural futures. When they do come true, it is usually a mixture of deep intelligence meeting immense luck. The July 1995 released film The Net, starring Sandra Bullock as […]

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Clean energy demand for critical minerals set to soar as the world pursues net zero goals

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Supplies of critical minerals essential for key clean energy technologies like electric vehicles and wind turbines need to pick up sharply over the coming decades to meet the world’s climate goals, creating potential energy security hazards that governments must act now to address, according to a report by the International Energy Agency.  The special report, The […]

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Zaveri Bazaar may lose primacy to proposed hi-tech jewellery park in Navi Mumbai

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Recent reports about Mumbai’s gold hub at Zaveri Bazaar shifting to New Mumbai is nothing new. Plans to shift the congested gold market in south Mumbai have been afoot for three years when Maharashtra state government signed an agreement with Gems and Jewellery Export Promotion Council (GJEPC) at the Magnetic Maharashtra 2018 conclave during the […]

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Global cotton prices might be influenced by more than traditional market fundamentals, says ICAC

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The International Cotton Advisory Committee (ICAC) said in its latest report that it expects global cotton production for 2020/21 at an estimated 24.6 million tonnes, led by India. Global consumption is estimated at 25 million tonnes, led by demand from China. Global trade, it said, was estimated at 9.8 million tonnes. The ICAC said these […]

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Normal to above normal rainfall forecast for southwest monsoon season

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Normal to above normal rainfall is most likely during the 2021 southwest monsoon season (June – September) over most parts of South Asia, according to an authoritative seasonal forecast from the South Asian Climate Outlook Forum (SASCOF) released this week. Geographically, above-normal rainfall is most likely over some areas of the North West, along the foothills of […]

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Copper climbs to highest in 10 years as global recovery gains ground; other metals also gain

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Copper climbed to the highest in almost a decade as the global recovery from the pandemic extended a rally in metals markets. Aluminum is surging and iron ore jumped to a fresh high as commodities advance toward the highs of the last supercycle. Metals are benefiting as the world’s largest economies announce stimulus programs and climate pledges […]

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