Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian Oil Corp between July and December this year on top of the existing term supply deal between the two companies. “We have told them […]
Recent reports indicate that, pending regulatory approval, the Dalian Commodity Exchange in China will open trading to foreign participants in futures contracts on soybeans, soymeal, soy oil and palm oil. This is the latest in a series of actions by China, beginning in early 2018, to gradually open futures trading on its commodities exchanges to […]
By Ritwik Sinha India needs to aggressively push exports of value-added products as part of a strategy to boost overall exports which have been stagnant for a significant period, a top trade official has said. “This is an area which needs special emphasis considering our stagnating exports,” Mohit Singla, chairman Trade Promotion Council of India, […]
By Ritwik Sinha Against the backdrop of the bruising US-China trade spat, Indian exporters are hopeful that Beijing will allow direct access to Indian commodities and products soon. China, one of India’s biggest bilateral trade partners, is currently engaged in a bitter tariff war with the Trump administration, forcing it to redraw its international trade […]
India’s National Mineral Development Corporation Limited (NMDC) is in the process of investing about One billion dollars on infrastructure in the next three years to help ramp up iron ore production, a senior official of the public sector undertaking told Hindu Business Line. Amitava Mukherjee, Director (Finance), said that the cost of the upcoming 3-million […]
India’s sugar exports surged to 21.29 lakh tonnes so far in the current marketing year ending September, as against about five lakh tonnes shipped in the entire 2017-18, industry data showed. Out of the 21.29 lakh tonnes exported between October 1 and April 6, raw sugar accounted for 9.76 lakh tonnes, the All India Sugar […]
The critical monsoon that India eagerly awaits every year is expected to arrive on time is expected to have a sluggish start due to weak weather conditions, private forecaster Skymet said. In its first forecast for the southwest monsoon, Skymet predicted below normal rains to the tune of 93% (with an error margin of +/- […]
India’s headline inflation, measured by the Consumer Price Index (CPI), is likely to rise 60 basis points (bps) to 4 per cent this fiscal from 3.4 per cent in fiscal 2019. This base case assumes food inflation rising to 3 per cent from an abnormal low of 0.1 per cent, credit rating agency CRISIL Research […]
World demand for platinum increased significantly in 2019, owing to strong investment demand that more than offsets softer demand in the automotive and jewellery segments, the World Platinum Investment Council (WPIC) said in its latest report. The increase in investment demand was driven by a surge in ETF holdings, which gained 690 kilo ounces (koz) […]
A large-scale deal that would have helped Tata Steel hive off its European operations now appears to be unlikely, analysts concurred after the Thyssenkrupp-Tata Steel joint venture that was in the works for a year fell apart last week. A report by foreign brokerage firm noted that Tata “will continue to explore all options including […]
