India closed its grape export season of 2018-19 with a 31 per cent rise in export of the fruit to Europe, the most premium market. Exports to Russia, China and other destinations are expected to have increased by about 25 per cent to 30 per cent. Grape growers had reported a bumper crop this year […]
Iraq has become India’s top supplier of crude oil for the second consecutive year in 2018-19 fiscal year, meeting more than a fifth of the country’s oil needs. India imported 46.61 million tonnes of crude oil from Iraq during April to March FY 2018-19, up 2% from 45.74 million tonnes in 2017-18 fiscal, PTI reported […]
GRM Overseas Limited, India’s third-largest basmati rice exporter to the world and second-largest to the Middle East, said it had formed a strategic alliance with MAN Consumer, one of the fastest growing FMCG distributors in the United Arab Emirates (UAE). The alliance will enable the distribution of GRM’s own brand of basmati rice “Tanoush” across […]
As if cheap steel imports from the Association of Southeast Asian Nations (ASEAN) was not enough of a problem to handle, India’s steelmakers are now fretting over heavily discounted steel imports coming in from Iran, a country that is under economic sanctions imposed by the United States. The first consignments from Iran’s Bandar Imam Khomeini […]
India’s tea production nudged 0.8 percent lower in 2018 from a year ago to 1311.63 million kg, trimming exports from the world’s biggest black tea producer by 1.1 percent, the state-run Tea Board said. India’s exports eased to 249.11 million kg from 251.89 million kg a year ago, the board said in a statement. India, […]
Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash, as the crisis-stricken country seeks to stay solvent, a report by Reuters informs. The sale this year of gold reserves that back the bolivar currency began with a shipment of […]
The United Arab Emirates (UAE) is now OPEC’s third-biggest producer, having surpassed Iran whose output has plunged below 3 million bpd with the U.S. sanctions on Iranian oil. The UAE, an ally of the cartel’s largest producer Saudi Arabia in the Persian Gulf and within OPEC, is vying for playing a more prominent role as […]
Qatar will leave the Organization of Petroleum Exporting Countries (OPEC) as of next month, its energy minister told the media, adding that the decision was part of a long-term strategy for growing its international presence on energy markets with a focus on gas. Qatar is the world’s largest exporter of liquefied natural gas, but it has Australia […]
The UAE is planning to boost its total oil production capacity to 3.5 million barrels per day (bpd) by the end of this year, the emirates’ Energy Minister Suhail Al-Mazrouei told S&P Global Platts in an interview after the OPEC/non-OPEC panel met last week to discuss the state of the market. The meeting among OPEC and its […]
Saudi Arabia has pledged to chip in $10 billion in funds to South Africa’s ailing power sector, according to a South African government spokesperson cited by CNBC. The funds will be used to build refineries and to advance petrochemicals and renewable energy projects in the developing economy of South Africa. The funds can’t come soon enough […]
