Recently in Netherlands and Denmark farmers dumped and destroyed tonnes of orchids for lack of exports and buyers. The orchid season of the Dutch countries is all but over, thanks to COVID-19. In India too, roses seem to have lost their charm and fragrance, at least for growers in Maval region of Maharashtra who are […]
Volatility in the global markets has once again brought gold back in focus, with the price of the yellow metal rising sharply worldwide. In India, it is approaching the Rs 45,000-level. This is a boon for investors holding gold exchange-traded funds and sovereign gold bonds (SGBs). At present, it is perhaps the only instrument to be providing […]
Gold prices climbed to their highest level in seven years on Thursday as an uptick in the number of coronavirus cases in South Korea fueled worries over the wider economic impact of the outbreak. Spot gold rose 0.44 per cent to $1,618.38 per ounce by 1:41 p.m. EST (1841 GMT), after hitting its highest level since February 2013 […]
Indian rose growers are hoping to match the export figure for last two years riding on the demand for the flower around the Valentine’s Day season. India has exported flowers worth Rs 57 crore each for the last couple of years. A survey conducted by the Indian Society of Floriculture Professionals (ISFP), the country’s s […]
Global crude steel production reached 1,869.9 million tonnes (million tonnes) for the year 2019, up by 3.4 per cent compared to 2018. Crude steel production contracted in all regions in 2019 except in Asia and the Middle East. Asia produced 1,341.6 million tonnes of crude steel in 2019, an increase of 5.7 per cent compared […]
Barely 20,000 grape growers across the country have registered under GrapeNet. GrapeNet is an internet-based electronic service offered by APEDA to stakeholders for facilitating testing and certification of grapes export from India. Last year, the number of growers had exceeded 38,000, top officials of All India Grape Exporters Association stated too Financial Express. According to […]
Chinese steelmaker Jingye has agreed to buy the ailing British company, British Steel. Although the deal still faces regulatory hurdles, if concluded it would safeguard thousands of jobs in the U.K., mostly at British Steel’s Scunthorpe operations in Lincolnshire. And it would bring stability to a firm that has faced upheaval as the steel industry […]
In a report titled ‘The need for Bullion Banking in India’, the WGC has recommended that banks or similar institutions be given flexibility to launch gold-backed products, with appropriate checks and balances. The report has been submitted with the government, which has been planning to come out with a broad gold policy. WGC managing director […]
The U.S, the UK, France, Italy, Germany and the UAE have issued a joint statement in recognition of the National Oil Corporation (NOC) of Libya as “the country’s sole independent, legitimate and nonpartisan oil company,” the Libya Herald reported. Reuters added that Turkey also signed the statement. “For the sake of Libya’s political and economic stability, […]
Turkey’s military pension fund has reached a tentative deal to buy British Steel out of insolvency. The Turkish Armed Forces Assistance Fund (known as Oyak) says it plans to take over British Steel, which employs 5,000 people, by the end of the year, claims a BBC report. British Steel owns the Scunthorpe steel works where […]
