Asian container ports are the most efficient in the world, dominating the Top 50 spots according to the new global Container Port Performance Index (CPPI) launched by the World Bank and IHS Markit. The report scored ports against different metrics, making the efficiency ranking comparable around the globe by assessing and standardizing for different ship […]
The number of people facing acute food insecurity and needing urgent life and livelihood-saving assistance has hit a five-year high in 2020 in countries beset by food crises, an annual report launched today by the Global Network Against Food Crises (GNAFC) – an international alliance of the UN, the EU, governmental and non-governmental agencies working to tackle food crises […]
Global coal demand declined 4% in 2020, the biggest drop since World War II. The main driver of the decline was lower electricity demand due to Covid-19 restrictions and the resulting economic downturn, the International Energy Agency’s (IEA) annual Global Energy Review said. Overall, declines in the power sector accounted for over 40% of lower […]
Saudi Arabia has hiked its crude oil prices for Asian buyers by $0.40 per barrel and cut those for European and US buyers by $0.20 and $0.10 per barrel, respectively, Reuters has reported, noting the increase is for May cargos, from the prices for April cargos. This means the May shipments price for Arab Light—Saudi […]
After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder — both for subsidised and market price users — will cost Rs 809 from April 1 as against Rs […]
IndiGrid, the country’s first and the largest power sector Infrastructure Investment Trust (InvIT), has completed the acquisition of NER-II Transmission Ltd from Sterlite Power at an enterprise value of Rs 4,625 crore. NER II Transmission Limited is a project specific Special Purpose Vehicle (SPV), set up in 2015 as a wholly owned subsidiary of REC […]
Saudi Aramco, the world’s largest crude oil exporter, lowered its guidance for capital expenditures (capex) for 2021 even amid a pick-up in demand for oil and natural gas in Asia. The oil firm’s capex will be around $35 billion this year, down from previous guidance of $40 billion to $45 billion, Aramco said in a […]
India’s rice production during 2020/21 is estimated at a record 121 million metric tonnes, up 2% from last year, according to the US Department of Agriculture (USDA). The rise in output came due to record yields and a slight increase in the field area. Favourable monsoon rains contributed significantly to the production. Rice is mainly […]
Global wheat production in 2021 is likely to increase and hit a new record of 780 million tonnes, according to FAO’s preliminary forecast, as expectations of a rebound in production in the European Union more than offset weather-impacted production prospects for output in the Russian Federation. Maize production in South Africa is expected to reach […]
Asia’s cereal imports are expected to be at record levels in 2020/21, mainly led by robust feed demand in China, according to a report of the Food and Agriculture Organization (FAO). Thanks to a recovery in China’s domestic pork production following an outbreak of African Swine Fever, imports of maize are expected to hit a […]
