Indian restaurants fear closure rate to rise following fresh restrictions as a second wave of Covid hits hard

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Partial lockdowns, curfews and other restrictions in many parts of India to battle a fresh surge of the Covid-19 pandemic could see a sharp increase in the closure of restaurants, a worried industry said as it demanded fresh support for survival from the government. India’s massive restaurant industry, which provides jobs to millions, was devastated […]

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Global coal production expected to rise by 3.5% in 2021: GlobalData

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Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions observed in the US (23.6%), Indonesia (13.1%), Russia (8.1%) and Australia (5.5%). These were only partially offset by increases in China (4%) and India (0.7%).  Additionally, during the last year, there was an estimated […]

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Despite pandemic and military coup, firm boasts of trading Myanmar teak: EIA

Gold Teak Holding, a Singaporean company with operations in Myanmar and Italy, gave a flawless display of hubris last week when it posted a photo on its LinkedIn profile showing a container of timber with the caption “An other [sic] cargo carried out despite COVID-19 and #Myanmarcoup”, the Environmental Investigation Agency (EIA) reported.  The LinkedIn post photo available […]

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Diversion of surplus oxygen stock of steel plants to help ease demand from rising Covid caseload

An inter-ministerial Empowered Group 2 (EG2) has initiated several measures to ensure the supply of medical oxygen to various affected states during the Covid-19 pandemic, a Press Information Bureau (PIB) bulletin said on Thursday. Medical oxygen is a critical component in the treatment of Covid affected patients.  The surplus stock available with steel plants is being […]

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OECD gas output fell 3.2% in January

Natural gas production in member nations of the Organisation for Econonic Co-Operation and Development fell by 3.2% on year in January, according to the International Energy Agency (IEA). The fall was led by the United States, where production declined by 2.8% amid the Covid outbreak. Production of European members fell by 5.9% mostly due to […]

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Hallmarking of gold artefacts and jewellery to be mandatory from June 1, 2021

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The Indian government is determined to implement compulsory hallmarking of gold jewellery and artefacts from June 1, amid rumours that the scheme’s rollout could be delayed. Hallmarking for gold jewellery started in April 2000 as a voluntary scheme. Around 40 per cent of gold jewellery sold in the country is being hallmarked at present. “No […]

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OPEC, IEA revise oil demand forecast upwards for this year

Two of the world’s prominent energy organisations—Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA)—have revised upwards their demand forecast for oil this year, which could help sustain a price rally. Demand will increase by 5.95 million barrels per day this year, which is around 70,000 barrels per day more than last […]

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India on course for normal rains for second straight year

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India will receive normal monsoon rains for a second consecutive year, which will help maintain food supplies even as parts of the country are again facing a near lockdown. Leading weather forecaster Skymet predicted that the rains during the June-September monsoon would be around 103% of the historical average. Bountiful monsoons helped India achieve a record […]

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