Adani loses $13 billion in four days in worst wealth devastation last week

Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raised questions about some offshore investors. The news triggered a stockmarket rout in his conglomerate’s six listed stocks. The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about […]

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Agriculture in India must transform from rural livelihood to modern business enterprise – survey

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The agriculture sector emerged as a sole bright spot in India’s economy during the current fiscal year, clocking a growth of 3.4%. But the growth needs to be sustained by treating the sector as a modern business enterprise and not just as a means of providing rural livelihood, says the annual economic survey released on […]

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China opens iron ore futures to international investors

Foreign investors began trading in China’s domestic iron ore futures on the Dalian Commodity Exchange (DCE) on Friday, as Beijing moved to further open its markets after launching crude oil futures in March. The crude oil futures were the first contracts listed on the Chinese mainland opened to overseas investors. “We will accelerate the process […]

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India’s market regulator likely to open up commodities market to FIIs, mutual funds by March

India’s capital and commodities market regulator, Securities and Exchange Board of India (SEBI) is planning to open up the commodities market for foreign portfolio investors (FPIs), fund houses and portfolio management services (PMS) by March this year. Recently, SEBI had approved the concept of a universal exchange, wherein a bourse can offer both equity and commodity trading under the […]

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Indian markets regulator sets norms for physical settlement in commodity derivative

The Securities and Exchange Board of India (SEBI) has asked exchanges to prefer physical settlement system for commodity derivatives contracts, a move that is expected to help hedgers manage risk better as well as curb excessive manipulation. “The first preference of settlement type shall always be by the way of physical delivery,” the markets regulator […]

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London Metal Exchange set for wide-ranging reforms with its new chief executive

Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, announced the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority (FCA) of the UK. Chamberlain will remain on the LME Board and will continue […]

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Daily Masala

Here is what others are talking about today: Asia stocks edge up amid Fed lull, oil slips Oil prices fall as analysts say market still oversupplied Gold edges lower for a third day on uncertainty of U.S. rate hike Chinese opposition to low-priced iron ore dumping defies logic Growing Cocoa as an intercrop increases yield […]

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Daily Masala

Here is what others are talking about this morning:  Asia stocks steady, sentiment fragile ahead of Brexit vote Oil prices above $50, buoyed by U.S. stock draw Monsoon rains score a century across India Gold hovers near 1-1/2 week lows ahead of Britain’s vote on EU BHP Flags ‘Another 10 Years’ as Iron Ore Adjusts […]

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Daily Masala

This is what others are talking about this morning: Pulses in India costlier due to poor rainfall, reduced imports  India’s regulator SEBI plans new risk management norms for commodity bourses As crude hits $50 a barrel, options market suggests jitters Saudi offers more oil to Asian clients ahead of OPEC meet Asia shares slip, dollar […]

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