India’s largest cotton trader to stop sales to China as a precaution against Coronavirus

Kotak Commodity Services, one of India’s top cotton exporters, will stop selling new cargoes to China on concern the spread of coronavirus may force the top buyer of the fiber to close ports and banks, reports Financial Express. The Mumbai-based company will look for new buyers of cotton in countries such as Bangladesh, Indonesia, Taiwan […]

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Gold price falls ahead of Fed meeting; trades at Rs 40,509 per 10 grams

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Gold and silver prices were trading lower as Indian rupee opened stronger against the US dollar on Tuesday. Comex gold was unchanged at $1,580 and MCX gold witnessed a minor correction since rupee has strengthened on Tuesday morning.  Traders will further observe the outcome of the US Fed meeting on 28th and 29th January. Meanwhile China’s death […]

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India’s middle eastern crude oil imports slump to 4-year low; government seeks other sources

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India’s imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions, reports Reuters. India, the world’s third-biggest oil consumer, imports about 84 per cent of its oil needs and traditionally […]

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US to impose sanctions on Iran’s metal exports and its leaders

The Trump administration imposed new sanctions on Iran last week, including penalties on the Islamic Republic’s metals and some senior leaders, following Tehran’s attack on U.S. military bases. The sanctions target steel, aluminum, copper and iron, as well as eight senior Iranian officials and sectors of the economy, such as construction, manufacturing, textiles and mining, […]

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