The gems and jewellery industry in the country is expecting gold prices to be volatile during 2020, as the hostility between the US and Iran may continue this year. Notwithstanding the price volatility, the industry hopes that various forms of government support may help it grow 10 per cent in terms of volume during the year as […]
US President Donald Trump’s tweet last week that he will raise U.S. tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent has rattled oil and commodity markets the world over. Oil prices reacted with a sharp drop in prices. Brent crude futures offered an early verdict to Trump’s […]
The government is likely to raise the import duty on wheat from the current 30 per cent to 40 per cent to rule out any possibility of cheaper imports amid the harvesting of the new crop. The import duty increase will force flour millers to buy wheat from FCI, which is set to offload stocks […]
Palm oil imports by India dropped by about 1.7 per cent to 740,000 tonnes in April as higher taxes on shipments curbed demand in the world’s biggest buyer, according to a survey by Bloomberg. Total vegetable oil imports decreased 9.7 per cent to 1.21 million tonnes, the survey showed. The Solvent Extractors’ Association of India […]
China’s steel industry association, which represents 80 per cent of the country’s steel production, has called on Beijing to get tougher with the administration of US President Donald Trump and to threaten retaliation if Washington moves to curb Chinese steel imports, the South China Morning Post reported. It quoted Li Xinchuang, vice-president of the China […]
China’s Ministry of Commerce has introduced duties on out-of-quota sugar imports to protect the domestic industry. The ministry said in a statement on its website that it was slapping duties for a period of three years, setting it at 45 percent that would be reduced to 40 percent and then 35 percent in each subsequent […]
India has lowered import duty on on wheat, edible grade crude and refined palm oils and potato to keep prices in check ahead of the festival season. The import duty on wheat was cut by 15 percentage points to 10 per cent till the end of February, in the hope that traders would be able […]
China has reaffirmed its pledge to cut steel production capacity after further pressure from the United State and th European Union at the Group of 20 summit in Hangzhou. Chinese President Xi Jinping said in a speech that his country will cut crude steel production capacity by 100 to 150 million tons by 2020. “China […]
Here is what others are talking about this morning: Asia gains on BoE easing boon, key U.S. jobs data awaited Oil prices dip as short covering rally fizzles out Gold steady ahead of US non-farm payrolls report India’s agricultural exports set to soar after 20% fall in 2015; here’s why China capacity cutting efforts still […]
