Unpredictable weather is ruling agriculture markets, as supplies of major commodities are stretched thin allowing little room for output losses, while meteorological conditions in major producing countries look uncooperative. While ongoing weather troubles in the agriculturally prominent countries are influencing prices of wheat, corn, soybean, and vegetable oils, uncertain weather is likely to cast a […]
A drive to reduce dependence on imported materials and technology, especially from China, is pushing India to invest in a battery technology that uses aluminum rather than lithium as the key ingredient. Indian Oil Corp., the nation’s largest oil refiner, has teamed up with an Isareli startup Phinergy Ltd. to develop the aluminum-air battery. India […]
On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]
Power demand in the country touched an all-time high and crossed the 200 GW mark amid many states witnessing high temperatures due to delayed monsoon, and easing of coronavirus-related restrictions. According to the latest power ministry data, peak power demand or the highest supply in a day touched an all time high of 200.57 GW […]
Australia’s resource and energy exports are forecast to hit a record A$310 billion in 2020-21 and be even stronger in the 2021-22 financial year at A$334 billion on the back of strong demand for iron ore, base metals and new technology-related commodities. Minister for Resources, Water and Northern Australia Keith Pitt said in a statement […]
India’s Reliance Industries Ltd. will appoint Yasir Othman Al-Rumayyan, the chairman of Saudi Aramco, to its board in what could possibly be seen as a precursor to an investment deal between the two big energy companies. Al-Rumayyan, who is also the governor of the kingdom’s sovereign wealth fund, will join Reliance as an independent director, Chairman Mukesh Ambani, India’s […]
Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raised questions about some offshore investors. The news triggered a stockmarket rout in his conglomerate’s six listed stocks. The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about […]
India’s economic recovery will depend on the speed and scale of vaccination in the country, the Reserve Bank of India (RBI) said in its monthly bulletin released on its website on June 16. “Going forward, the speed and scale of vaccination will shape the path of recovery. The economy has the resilience and the fundamentals to […]
A faster-than-expected global economic recovery is boosting prices as supply chains have struggled to keep up with rapidly expanding consumer durables demand and world merchandise trade, Fitch Ratings said in its latest Global Economic Outlook (GEO). However, slower growth, supply adjustments in bottleneck sectors, a switch back towards services consumption, and fading impacts from US […]
The 2021 rice export forecast for India has been raised to a new record of 17.0 million tonnes, nearly triple the next largest exporter, Vietnam, the U.S. Department of Agriculture said in its latest monthly report. India hit a new monthly export record in March of nearly 2.5 million tonnes, resulting in over 6 million […]
