POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to $ 5 billion around Rs 37,000 crore. The non-binding MoU signed between POSCO and Adani intends to […]
Oilmeal exports fell 67% to 1.7 lakh tonne in December 2021 due to a decline in export of soybean and rapeseed meal, according to the Solvent Extractors Association of India (SEA). The association, which has compiled the export data for December, said 1,70,338 tonne of oilmeal was exported in the month, compared to 5,16,006 tonne […]
The oil sector has been hogging the investment limelight after a spectacular recovery that has set the sector as one of the top performers in 2021. However, it’s natural gas bulls who have been having a real ball with natural gas trading at their highest levels since 2014, outpacing oil and many other commodities. The natural […]
Erratic weather conditions like rains and hailstorms witnessed recently are likely to hit the yield of key vegetables such as potato, onion and tomato, thus pushing up their prices in the coming weeks, a market intelligence report prepared by the ministry of food processing industries (MFPI) has stated. Currently, mandis’ prices of the key vegetables […]
India’s government has decided not to impose anti-dumping duty on certain steel products being imported from countries like China, Japan, and Korea, as the finance ministry has not accepted the recommendations of the directorate general of trade remedies (DGTR). The commerce ministry’s investigation arm DGTR had conducted a probe against imports of ‘Cold Rolled/cold reduced […]
Costs of aluminium for European consumers are scaling record highs due to soaring energy costs and production cuts, which have exacerbated deficits of the metal used in the power, construction and packaging industries. Consumers buying aluminium on the physical market usually pay the benchmark price on the London Metal Exchange — around $ 2,950 a […]
The newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent stake in the supergiant West Qurna 1 oil field for up to $350 million. West Qurna 1, located around 65 kilometres from southern Iraq’s principal oil and export hub of Basra, holds a considerable portion of the […]
South Korea has laid out a plan to pivot to hydrogen as its primary energy resource. With a population of 52 million, South Korea is the tenth largest economy in the world, has the fifth largest steel industry in the world, is a major producer of electronics, automobiles (# 5 in world) and batteries (#2), […]
Nearly 20 lakh tonnes of foodgrains have been distributed for free so far to eligible beneficiaries under the fifth phase of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY). In March 2020, the Centre had launched the scheme to provide free foodgrains to over 80 crore beneficiaries covered under the National Food Security Act (NFSA) as […]
As the country moves more aggressively towards its decarbonisation goals with the overall energy economy shifting towards greener fuels, a Wall Street brokerage has said this space will see a capex of $ 395 billion by 2030. At COP21 in Paris, as part of its nationally determined contributions, New Delhi had committed to achieve 40 […]
