The impact of recent farm laws introduced by the Indian government –including the right to farmers to sell their produce anywhere as well removing stock limits on essential commodities — will begin to be realised in the next 2-3 years, according to global consultancy PWC. The new laws have met with strong resistance in certain […]
Altogether 15 countries including 13 in Asia and Australia and New Zealand signed the Regional Comprehensive Economic Partnership (RCEP) on November 15 via a virtual conference, which has created the world’s largest free trade bloc and has been great news in general to the commodities market sources, Mysteel Global noted. RCEP, which took eight years […]
India and Russia are aiming to achieve $30 billion in annual bilateral trade by 2025. The trade between the two countries stood at close to $10 billion in 2019. Russian deputy chief of mission Roman Babushkin told Financial Express, “The FTA between India and Eurasian Union is a priority project for all of us and […]
India trade deficit last month came in at $8.78 billion against $11.76 billion in October last year, an improvement by 25.34%, as merchandise imports fell, the government said in a statement. It said merchandise exports in October 2020 were $24.82 billion against $26.23 billion in the same month last year, a fall of 5.4%. Exports […]
World’s second-largest economy China has sharpened its attack on leading trading partner Australia — a phenomenon that appears in line with its harsh trade stance against those countries that have criticised its handling of the Covid-19 pandemic outbreak as well as its strong-arm military tactics. China banned imported timber from Australia’s Queensland and barley shipments […]
Global trade recorded a 5% drop in the third quarter of this year compared with the same period last year, according to an UNCTAD report. This marks an improvement on the 19% year-on-year plunge recorded in the second quarter, and the frail recovery is expected to continue in the fourth quarter, with a preliminary forecast […]
Indian Energy Exchange (IEX) said it has recorded a 13.2 per cent rise in electricity sales to 16,486 million units (MU) in the September quarter, as power demand accelerated and returned to pre-COVID levels. The second quarter witnessed a sharp recovery in industrial activities and electricity consumption, owing to easing of the lockdown restrictions across […]
Last week’s news that within this year, China could release long-awaited national guidelines relating to steel scrap standards – and the possibility that this may see present restrictions on scrap imports being eased – attracted great attention in Japan, though the feeling is rather mixed from sellers and buyers. Trading sources in Tokyo welcomed the […]
Maersk, the world’s biggest container shipping line, said it was making about 2,000 employees redundant globally even while announcing that a recovery was underway. The company said in a statement that it expects to take a restructuring charge of $100 million in the third quarter of this year. “Trading conditions for the quarters ahead remain subject […]
India’s central bank left the benchmark lending rate unchanged and vowed to maintain its accommodative monetary policy to facilitate the economy’s recovery in wake of the covid pandemic. The Reserve Bank of India (RBI) maintained the repo rate at 4% and the reverse repo rate at 3.35%. At the same time, the bank announced a raft […]
