Weekly Wrap – India’s farmer protests continues; Brexit sealed; slow economic recovery, fraught with risks

Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs in its most significant global shift since the loss of empire. The deal means it has swerved away from a chaotic finale to a tortuous divorce that has shaken […]

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India may first ink a preferential trade agreement with EU: Piyush Goyal

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Addressing a session on EU-India Collaborative Economic Growth, commerce and industry minister Piyush Goyal said India is hopeful of working a Free Trade Agreement (FTA) with the EU, “possibly starting with a preferential trade agreement for an early harvest to get faster outcomes”, an official statement said. A preferential trade agreement with the EU will […]

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India-UK summit to initiate proposed free trade agreement

India and the UK are committed to deepen trade relations, paving the way for expedited talks on a proposed Free Trade Agreement (FTA). During the 14th Joint Economic and Trade Committee (JETCO) between Commerce and Industry Minister Piyush Goyal and the UK’s International Trade Minister Ranil Jayawardena and International Trade Secretary Liz Truss, both nations have decided […]

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India’s gold imports down for five months in a row amid slowing economy, rising metal prices

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India’s gold imports in November 2019 declined for the fifth month as elevated prices and the slowest economic growth in six years curbed demand during the peak wedding season. Inbound shipments dropped 19 per cent from a year earlier to 56.1 tonnes, according to a Bloomberg report. That makes it the lowest shipment for the […]

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IEA warns of a looming oil glut

If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according to the International Energy Agency (IEA).  “Unless other things change, we will see a surplus probably, unless there is very strong demand growth recovery,” Keisuke […]

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OECD cuts global growth forecast over trade tensions, Brexit uncertainty

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Trade tensions and political uncertainty, including Brexit, are weighing on the world’s economy, the Organisation for Economic Co-operation and Development (OECD) warned as it again cut its 2019 forecast for global economic growth to 3.3% for the current year, down from 3.5% it predicted earlier. “High policy uncertainty, ongoing trade tensions, and a further erosion […]

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Rising pound, frost, Brexit and French elections dampen fine wine prices

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Frost in growing areas and French elections are adding to uncertainty over prices of new vintage wines after the fine wine market posted its first fall in 17 months, as merchants and investors grappled with currency markets and uncertainty about the pricing of the Bordeaux 2016 vintage. The Liv-ex 100 Fine Wine index, which reflects […]

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