China’s HBIS agrees to buy 70% of Tata’s Southeast Asian steel projects

Chinese steelmaker HBIS Group agreed to buy 70 per cent of Indian conglomerate Tata Steel’s projects in Southeast Asian countries on Monday, which is considered a “smart move” by experts, according to the Chinese news agency Xinhua. HBIS, the world’s third-largest steelmaker by output, will take over Tata Steel’s projects in Singapore, Thailand, Vietnam and […]

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Onion export down by 7% during April-August in Maharashtra; India’s exports however increase

Maharashtra the leading onion exporter has witnessed a drop of 7 per cent in export during April-August of the current financial year, while the national export has increased by 5 per cent during the same period. Despite good quality summer onion production in Maharashtra, factors like change of ports for shipment from Mumbai to other […]

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India pulls back restriction on free export advantage from Maldives

With India’s move of reducing export quota to Maldives by literally 100 percent, there is mounting tension amongst traders in the Maldives. Under its restriction free 1981 bilateral trade deal, India annually fixes the quantities of potatoes, onions, rice, wheat flour, sugar, pulses and eggs allocated for export to the Maldives. However, India has now reduced the […]

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Post LME-takeover, Hong Kong Stock Exchange poses a challenge to Singapore for dominance in iron ore trading

Last week Hong Kong Exchanges and Clearing started trading iron ore futures, challenging Singapore’s leading position as futures trader for the commodity used in steelmaking. According to Bloomberg, the dollar-denominated futures contracts will go head to head with those offered by SGX, which started its first swap contracts in 2009 and is now the world’s largest […]

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Robust economic and demographic growth pushes Southeast Asia’s energy demand higher

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Southeast Asia’s energy demand is expected to grow by almost two-thirds by 2040, representing one-tenth of the rise in global demand, posing serious challenges as the total population grows by a fifth with the urban population alone growing by over 150 million people. According to the International Energy Agency (IEA), while countries across the region have […]

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Will Noble Group, once Asia’s biggest commodity trader, ship out soon?

The Noble Group, once Asia’s largest commodity trader, dealing in metals, minerals, oil, and agricultural goods, with a market value of more than $10 billion at its peak in 2010, is teetering and fighting for its life with its current worth languishing at a mere $336 million. Troubles for the Hong Kong-based commodities trader,only seem […]

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India joins IEA as association country

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India, the world’s third-largest energy consumer, has joined the International Energy Agency (IEA) as an Association country The announcement was made jointly in New Delhi by Dr Fatih Birol, the IEA’s Executive Director, India’s Minister of State, with Independent Charge for Power, Coal, New and Renewable Energy and Mines Piyush Goyal, and Dhamendra Pradhan, Minister […]

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