Weekly Wrap Up – World is still on tenterhooks as pandemic rages

A global poll conducted by news agency Reuters inferred that the world economic recovery looked ever more shaky, as the pandemic raged on. In a worst-case scenario, the poll indicates, the world economy will contract 6.5% this year, much worse than the International Monetary Fund’s -4.9% projection, then grow just 2.0% next year. India’s fiscal […]

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Gold prices in key consumer India hit fresh record highs, crosses Rs 50,000/10 gm

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Indian spot gold prices charted a fresh record high of Rs 50,070/10 gram on Wednesday, tracking international prices that have risen on expectations of  monetary stimulus packages in the US and Europe. International gold prices are at $1,860/ounce, reaching within striking distance of their record price of $1,924/oz in September  2011. European Union leaders have agreed […]

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Flooding in eastern India raises concerns about crop size for world’s largest rice exporter

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Heavy monsoon rains over the Indian subcontinent have raised concerns whether the world’s largest exporter of rice will be on track for another record crop. Parts of India’s eastern states of Assam and Bihar have been inundated, with heavy rainfall in the catchment areas of Nepal’s Gandak river submerging nearby areas. Both the states are […]

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The Week That Was – Rains helping India’s efforts to drive away pandemic blues; China wants IMF to cough out money

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China’s top central banker last week urged the International Monetary Fund (IMF) to issue hundreds of billions of dollars of liquidity to its 189 member countries through a general allocation of Special Drawing Rights (SDRs) despite U.S. objections. Yi Gang, governor of the People’s Bank of China, wrote in an opinion piece in the Financial […]

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Soybean plantation acreage in India at all-time high; expect bumper production

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The soybean acreage in the country this year is expected to touch an all-time high, exceeding the previous high of 11.72 million hectare achieved in 2013-14. Early arrival of monsoon and well- distributed rainfall in the main growing regions of Madhya Pradesh and Maharashtra have prompted sowing of the oilseed. Farmers are expecting a bumper […]

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Weekly Wrap – India headed for bumper agri output on good rains; gold prices fall

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With the monsoon in full swing, crop sowing in India is off to a strong start with around 43.3 million hectares already sown, significantly higher than around 23 million hectares sown last year till this week, according to government data. Last week, rainfall picked up and most parts of the country received above average showers […]

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