News

Global markets turn cautious again amid concerns of banking crisis Global economy was once again beginning to stare at the possibility of economic slowdown as fears re-emerged over the possibility of economic recession in the US owing to another banking crisis, a research note by Jahnavi Prabhakar, Economist, Bank of Baroda, said. US officials are already in talks of providing a possible FDIC receivership to First Republic. A lot is at stake for Fed now, as it considers the next rate action given the stubbornly high inflation, elevated wage growth, credit...
Global markets turn cautious again amid concerns of banking crisis
Global markets turn cautious again amid concerns of banking crisis
Source: IANS
30/04/2023 4:37:53 PM
Sri Lankan economy projected to contract by 4.3%: World Bank Amid the ongoing economic crisis, the Sri Lankan economy is projected to contract by 4.3 per cent in 2023 as demand continues to be subdued, job and income losses intensify, and supply-side constraints adversely affect production, the World Bank announced. Sri Lanka's heightened fiscal, external, and financial imbalances and its fluid political situation pose significant uncertainty for the country's economic outlook, the World Bank said in its twice-a-year update, underscoring the...
Sri Lankan economy projected to contract by 4.3%: World Bank
Sri Lankan economy projected to contract by 4.3%: World Bank
Source: IANS
5/04/2023 4:23:38 PM
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi Prime Minister Narendra Modi on Thursday said that the Ukraine crisis can be resolved through dialogue and diplomacy. In a joint statement after bilateral talks with his visiting Italian counterpart Giorgia Meloni, Modi said that "India has made it clear from the beginning that Ukraine dispute can be resolved through dialogue and diplomacy". On her part, Meloni expressed hope that India having the G20 Presidency can play a central role in facilitating a negotiating process for...
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi
Ukraine crisis can be resolved only through dialogue, diplomacy: Narendra Modi
Source: IANS
2/03/2023 6:03:41 PM
Sri Lanka economy to recover gradually in second half of 2023: Central bank The Central Bank of Sri Lanka said that the country's economy plagued by the worst-ever crisis since independence that has plagued the island nation since early 2022, is expected to recover gradually from the second half of this year. The central bank announced its monetary policies for 2023 on Wednesday, saying that rapid acceleration of inflation that began from early 2022 turned around in October, reports Xinhua news agency. "The Sri Lankan economy, which is projected to reg...
Sri Lanka economy to recover gradually in second half of 2023: Central bank
Sri Lanka economy to recover gradually in second half of 2023: Central bank
Source: IANS
5/01/2023 3:50:48 PM
European Union states agree $191 gas price cap to contain energy crisis European Union (EU) member states have agreed to cap natural gas prices in the bloc at 180 euros ($191) per megawatt-hour (MWh) in an effort to ensure the security of energy supply. "We have managed to reach a very important agreement on the price ceiling for gas. Europe will thus have a package of measures to help it prepare for next winter and protect citizens and businesses from extreme price fluctuations," said Jozef Sikela, the Czech Republic's minister in charge of indu...
European Union states agree $191 gas price cap to contain energy crisis
European Union states agree $191 gas price cap to contain energy crisis
Source: IANS
20/12/2022 12:23:38 PM
China's real estate crisis could be over Chinese authorities are making their biggest effort yet to end a crisis in the country's vast real estate sector that has weighed heavily on the economy over the past year, media reports said. Shares of China's biggest property developer Country Garden soared as much as 52 per cent in Hong Kong after Beijing on Friday unveiled a 16-point plan that significantly eases a crackdown on lending to the sector, CNN reported. Key measures include allowing banks to extend maturing loans ...
China's real estate crisis could be over
China's real estate crisis could be over
Source: IANS
14/11/2022 7:47:21 PM
Pound rebounds as traders turn to BoE response  Sterling bounced on Tuesday, but was running mostly on hope, profit taking and soaring British yields, leaving traders unnerved about the broader fallout from its record dive. As the dollar eased, the pound rose 1% in Asia to $1.0805 and is up nearly 5% from Monday's low at $1.0327. The kiwi also rose 1%, its first gain in seven sessions, the euro rose 0.5% and the Aussie rose 0.7%. Little has changed fundamentally, however, since sterling's plunge was triggered by concern...
Pound rebounds as traders turn to BoE response
Pound rebounds as traders turn to BoE response
Source: Reuters
27/09/2022 8:58:46 AM
More than 1 in 2 senior business executives see recession looming: Report More than one in two senior business executives globally (59 per cent) believe there will be a recession in the coming year, according to an IDC survey. Moreover, nearly 30 per cent of those who believe a recession will occur also believe that we are currently in a recession, with another 26 per cent expecting a recession to begin in the second half of 2022, according to the survey of almost 900 C-Suite level executives. Nearly 44 per cent of Asia/Pacific respondents believe the recessi...
More than 1 in 2 senior business executives see recession looming: Report
More than 1 in 2 senior business executives see recession looming: Report
Source: IANS
24/09/2022 2:57:42 PM
Exclusive-Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan -sources Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said. The island nation, struggling with its worst economic crisis in more than seven decades, had sought up to $3 billion from the IMF. Spokespersons for the IMF and the Sri Lankan government did not immediately respond to requests for comment. Staff...
Exclusive-Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan -sources
Exclusive-Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan -sources
Source: IANS
31/08/2022 11:10:11 AM
Amid soft-peg crisis, Sri Lanka suspends import of over 300 items Amidst the soft-peg crisis, Sri Lanka has temporarily suspended the import of over 300 'non-essential' items with effect from Wednesday. Signed by President Ranil Wickremesinghe in his capacity as the Finance Minister, the gazette was issued under the Import and Export Control Act. The list of items included cosmetics, electrical goods, water craft, ships, aircraft, electrical and electronic goods and building materials. It also included chocolate and other food products such as...
Amid soft-peg crisis, Sri Lanka suspends import of over 300 items
Amid soft-peg crisis, Sri Lanka suspends import of over 300 items
Source: IANS
24/08/2022 10:08:52 AM
Steep hike in yarn prices: Tiruppur garment industry in crisis With the steep hike in yarn prices continuing the garment industries in Tiruppur are in crisis. Several units are not functioning for the past several months with most of them getting outsourced orders from major garment exporters. Exporters of Tiruppur, which is considered the knitwear hub of India, are in a tough situation as they are unable to execute international orders that they have taken. This, according to exporters, would lead to the market going elsewhere. It may be noted ...
Steep hike in yarn prices: Tiruppur garment industry in crisis
Steep hike in yarn prices: Tiruppur garment industry in crisis
Source: IANS
23/08/2022 2:13:34 PM
With no fuel, Sri Lanka limits itself to essential services till July 10 With no fuel to run the crisis-stricken country, Sri Lanka's government announced it had decided to operate only essential services from Monday midnight to July 10. Minister and Cabinet spokesman Bandula Gunawardena told reporters that the government decided to limit fuel distribution to essential services like ports, airports, health, food distribution, and agriculture. "This decision was taken to protect the limited reserves of fuel in the country and that they be used only f...
With no fuel, Sri Lanka limits itself to essential services till July 10
With no fuel, Sri Lanka limits itself to essential services till July 10
Source: IANS
28/06/2022 8:30:38 AM
India continues to grapple with 'severe and protracted power crisis' after surge in coal prices India is continuing to grapple with a "severe and protracted" power crisis after a sustained surge in global coal prices in late-2021 was further aggravated by Russia's invasion of Ukraine in February, S&P Global Commodity Insights said. The global price pressure eroded India's import volumes and reduced its power plant stockpiles to critically low levels just as an unrelenting heat wave pushed demand to unprecedented levels. The country generates more than 75% of its...
India continues to grapple with 'severe and protracted power crisis' after surge in coal prices
India continues to grapple with 'severe and protracted power crisis' after surge in coal prices
Source: IANS
28/06/2022 8:26:12 AM
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera Amid the ongoing economic crisis in Sri Lanka, Minister of Power and Energy Kanchana Wijesekera said the island nation will not receive shipments of petrol, diesel and crude oil, scheduled for this week and next week. The Minister said that suppliers have informed state-owned fuel importer and distributor Ceylon Petroleum Corporation (CPC) that they will not make the scheduled deliveries due to banking and logistic reasons, reports Xinhua news agency. Wijesekera said public transportati...
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera
Source: IANS
26/06/2022 11:00:56 AM
Indian Oil expects oil prices to stay over $100/bbl in 2022 NEW DELHI - An Indian Oil finance executive said on Friday he expects oil prices to hold above $100 per barrel for the rest of 2022 amid the Ukraine crisis. Sandeep Kumar Gupta, director of finance at Indian Oil, also said at an industrial seminar he expects economic damage from the Russia-Ukraine conflict to contribute to a significant global growth slowdown in 2022.  
Indian Oil expects oil prices to stay over $100/bbl in 2022
Indian Oil expects oil prices to stay over $100/bbl in 2022
Source: Reuters
24/06/2022 10:40:07 AM
India shows exemplary resilience in recovery from COVID-19 crisis: CEA Chief Economic Advisor (CEA) Anantha Nageswaran said India has shown exemplary resilience in recovery from the COVID-19 pandemic crisis. He added all major activities and parameters of the economy have crossed their pre-COVID levels, and it is now enjoying macroeconomic tailwinds. Nageswaran said quick and precise steps have been taken by the government at the policy level, which was supported by the Reserve Bank of India’s timely interventions. He said compared to developing and dev...
India shows exemplary resilience in recovery from COVID-19 crisis: CEA
India shows exemplary resilience in recovery from COVID-19 crisis: CEA
Source: Accord Fintech
13/06/2022 9:29:21 AM
SriLankan Airline makes a beeline for refuelling at Thiruvananthapuram airport With Sri Lanka reeling under its worst economic crisis, its national airline has begun refuelling at India's Thiruvananthapuram international airport. Now owned by the Adani group, the airport since Sunday is seeing the SriLankan Airlines fly down for refuelling. A few of their long haul flights to Australia and Europe have already availed the services according to sources, and more of their flights are expected in the coming days. The average time taken to fly from Colombo to he...
SriLankan Airline makes a beeline for refuelling at Thiruvananthapuram airport
SriLankan Airline makes a beeline for refuelling at Thiruvananthapuram airport
Source: IANS
30/05/2022 11:13:27 AM
UK announces levy on energy firms to ease cost-of-living crisis The UK announced that it will impose a 25 per cent levy on the profits of oil and gas companies, to ease the financial burden on millions of households amid raging inflation. As a temporary policy, the tax would be phased out "when oil and gas prices return to historically more normal levels", with a sunset clause written into the legislation, Xinhua news agency quoted Chancellor Rishi Sunak as saying at the House of Commons on Thursday. The levy was first proposed by the oppo...
UK announces levy on energy firms to ease cost-of-living crisis
UK announces levy on energy firms to ease cost-of-living crisis
Source: IANS
27/05/2022 4:40:13 PM
Analysis-India's power grid creaks under hybrid work model, heatwave NEW DELHI - Indians are cranking up air conditioning as they still work from home, while lights come back on in offices and factories with an end to COVID curbs, upending power demand patterns amid a heatwave and the country's worst blackouts in years. India has traditionally seen peak demand late in the evening when people head back home but that has shifted to mid-afternoon when temperatures are hottest, government data shows, driven by record residential daytime use, a pick up ...
Analysis-India's power grid creaks under hybrid work model, heatwave
Analysis-India's power grid creaks under hybrid work model, heatwave
Source: Reuters
19/05/2022 11:48:25 AM
Egypt has no wheat crisis, interest rate hike likely: PM Mostafa Madbouly Egyptian Prime Minister Mostafa Madbouly has said Egypt will not have a crisis in wheat supplies despite the repercussions of the ongoing conflict between Russia and Ukraine, two main wheat exporters to Egypt. Madbouly's remarks came during a press conference on Sunday at the investment authority headquarters in Cairo to higlight the country's economic situation amid the global rising inflation, Xinhua news agency reported. The national project of increasing agricultural lands h...
Egypt has no wheat crisis, interest rate hike likely: PM Mostafa Madbouly
Egypt has no wheat crisis, interest rate hike likely: PM Mostafa Madbouly
Source: IANS
16/05/2022 9:52:53 AM
Recession worries weigh on global markets as China export growth hits two-year low Recession worries are swirling again as China's Covid-19 lockdowns, the Ukraine war, and the cost of living crisis all threaten the global recovery, The Guardian reported. China's exports growth has tumbled to a two-year low, as the curbs introduced to battle Covid has hit factory production, disrupted supply chains and weakened domestic demand too, The Guardian reported. Exports slowed to 3.9 per cent year-on-year in April, the weakest since June 2020. Imports growth was fla...
Recession worries weigh on global markets as China export growth hits two-year low
Recession worries weigh on global markets as China export growth hits two-year low
Source: IANS
9/05/2022 1:44:24 PM
India falls 7.6% short of coal supply targets to utilities in April NEW DELHI - India fell short of domestic coal supply targets to utilities by 7.6% in April, as output from mines owned by companies for self-use were 33% lower than required and a shortage of trains for delivery further exacerbated a crippling power crisis. India faced its worst power crisis in over six years in April as demand hit a record high. Local supplies are crucial as coal inventories at utilities are at the lowest pre-summer levels in at least nine years and electricity demand is ...
India falls 7.6% short of coal supply targets to utilities in April
India falls 7.6% short of coal supply targets to utilities in April
Source: Reuters
3/05/2022 3:37:54 PM
Power-hungry India halts passenger trains to free up track to move coal India has boosted the output of coal and cancelled passenger trains to free up rail track to move it, officials said on Friday, as the government scrambles to overcome its worst power crisis in years. State-run Coal India, which accounts for 80% of India's coal output, increased production by 27.2% in April, the federal coal ministry said. Federal government-run Indian Railways has cancelled 753 passenger train services, the government said. India has urged its states to step up coa...
Power-hungry India halts passenger trains to free up track to move coal
Power-hungry India halts passenger trains to free up track to move coal
Source: Reuters
30/04/2022 11:31:29 AM
Coal crisis stares at Uttar Pradesh power sector Even as Chief Minister Yogi Adityanath has asked power officials to maintain routine power supply in the state, Uttar Pradesh is likely to face a bigger electricity crisis as the backup coal stocks for thermal power plants have started depleting this month. The coal shortage may worsen during the monsoon when the supplies fall short annually due to rain and floods that disrupt mining and transportation. A senior power official said that thermal plants face coal shortage during the monso...
Coal crisis stares at Uttar Pradesh power sector
Coal crisis stares at Uttar Pradesh power sector
Source: IANS
26/04/2022 2:22:04 PM
Gold hits over 1-month high as Ukraine crisis weakens risk appetite Gold prices rose on Monday to their highest since mid-March, as the Russia-Ukraine crisis soured risk sentiment and drove investors to the safety of bullion. Spot gold was up 0.5% at $1,984.58 per ounce, as of 0202 GMT, hitting its highest since March 14. U.S. gold futures were up 0.7% at $1,987.70. Seems like there is a bit of risk aversion in the market, with some overhang from the Russia-Ukraine situation, said Ilya Spivak, a currency strategist at DailyFX, while cautioning thin liqu...
Gold hits over 1-month high as Ukraine crisis weakens risk appetite
Gold hits over 1-month high as Ukraine crisis weakens risk appetite
Source: Reuters
18/04/2022 8:58:18 AM
Oil prices rise on supply concerns as Ukraine crisis deepens TOKYO - Oil prices rose on Monday as concerns grew about tighter global supply, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. Brent futures were up $1.50, or 1.3%, at $113.20 a barrel at 0030 GMT, and U.S. West Texas Intermediate futures rose 98 cents, or 0.9%, to $107.93 a barrel. Ahead of Easter weekend holidays, both contracts gained more than 2.5% on Thursday on news that the European Union might phase in a ba...
Oil prices rise on supply concerns as Ukraine crisis deepens
Oil prices rise on supply concerns as Ukraine crisis deepens
Source: Reuters
18/04/2022 8:36:49 AM
India stares at power shortage in summer demand due to coal supply crisis Several states in India are likely to see a power shortage in the coming weeks as power plants struggle to find optimum amounts of thermal coal amid rising summer demand, higher import costs and the resultant supply tightness, sources told S&P Global Commodity Insights. Global thermal coal prices have remained elevated as a fallout of the Russia-Ukraine conflict, which disrupted trade flows and crippled supply amid additional demand from Europe, which has now sanctioned Russian coal. ...
India stares at power shortage in summer demand due to coal supply crisis
India stares at power shortage in summer demand due to coal supply crisis
Source: IANS
13/04/2022 1:49:08 PM
Homes in darkness, industries hit as Andhra faces severe power crunch Homes in darkness, patients suffering in government hospitals and industries coming to a grinding halt in Andhra Pradesh show the severity of the power crisis gripping the state. An incident in which a woman delivered a baby under a cellphone light at a government hospital in Narsipatnam and the visuals of patients having a harrowing time at many other state-run hospitals due to power outages amid the sweltering heat highlight the grim situation. From domestic to agriculture and industr...
Homes in darkness, industries hit as Andhra faces severe power crunch
Homes in darkness, industries hit as Andhra faces severe power crunch
Source: IANS
10/04/2022 1:20:36 PM
Gold flat as firmer dollar counters support from Ukraine crisis Gold prices remained trapped in a tight range on Friday as the dollar firmed on prospects of aggressive interest rate hikes by the U.S. Federal Reserve, partially offsetting safe-haven demand fuelled by the lingering Russia-Ukraine conflict. Spot gold was subdued at $1,929.48 per ounce by 0318 GMT. U.S. gold futures were down 0.3% at $1,931.90. "Gold has held up relatively well this week given the move higher by both U.S. yields and the U.S. dollar, we may be seeing some underlying...
Gold flat as firmer dollar counters support from Ukraine crisis
Gold flat as firmer dollar counters support from Ukraine crisis
Source: Reuters
8/04/2022 9:17:32 AM
Foundry sector demands suspension of iron ore, pig iron exports The Indian Foundry Industry (IFA) has demanded temporary but immediate suspension of the export of pig iron and iron ore to protect the foundry sector of the country from the current crisis of volatility in the price of raw materials. In an interactive session with media persons here on Thursday, IFA chairman and managing director of Govind Steel Company Limited, Dinesh Kumar Sakseria pointed out that the backbone of the foundry sector of the country has collapsed due to the unprecedented ...
Foundry sector demands suspension of iron ore, pig iron exports
Foundry sector demands suspension of iron ore, pig iron exports
Source: IANS
8/04/2022 9:14:53 AM
Indian orthodox tea exporters to benefit from Sri Lankan crisis, says ICRA Indian orthodox tea producers and exporters could potentially benefit from the current economic crisis in Sri Lanka, said rating agency ICRA. Tea production in Sri Lanka, which is the largest exporter of orthodox teas globally accounting for 50 per cent of global trade, has been impacted in recent months due to withdrawal of the use of chemical fertilisers in the island nation. The current difficult economic situation is also likely to impact production and costs in 2022, the rating age...
Indian orthodox tea exporters to benefit from Sri Lankan crisis, says ICRA
Indian orthodox tea exporters to benefit from Sri Lankan crisis, says ICRA
Source: IANS
7/04/2022 4:04:43 PM
India electricity shortage in March worst since October coal crisis NEW DELHI - India's electricity shortage of 574 million units from March 1 to March 30 is the worst since October 2021, a Reuters analysis of government data showed. The energy hungry nation has seen a surge in power demand in recent days, forcing India to cut coal supplies to the non-power sector and put on hold plans for some fuel auctions for utilities without supply deals due to a slump in inventories. A crippling coal shortage in October caused the worst electricity deficit in ...
India electricity shortage in March worst since October coal crisis
India electricity shortage in March worst since October coal crisis
Source: Reuters
31/03/2022 12:58:05 PM
Gold falls, eyes best quarter in six on Ukraine crisis Gold fell in range-bound trade on Thursday, but the safe-haven metal was set for its biggest quarterly gain since September 2020, as the Russia-Ukraine conflict lifted bullion's appeal. Spot gold was down 0.6% at $1,921.55 per ounce by 0507 GMT. U.S. gold futures fell 0.7% to $1,925.00. The metal has gained about 5% so far in the quarter and 0.7% in the month. "Gold traders are balancing out with potential for further gains based on geopolitical risk and possibly inflation, ...
Gold falls, eyes best quarter in six on Ukraine crisis
Gold falls, eyes best quarter in six on Ukraine crisis
Source: Reuters
31/03/2022 11:22:30 AM
ICRA cuts FY23 real GDP growth estimate to 7.2% on impact of Ukraine Crisis Domestic ratings agency ICRA has cut its FY23 real Gross domestic product (GDP) growth estimate by a sharp 0.8 per cent to 7.2 per cent. It attributed the downward revision to elevated commodity prices and also fresh supply chain issues arising from the conflict in Ukraine. It noted that real GDP growth is likely to moderate to 3-4 per cent in Q4FY22 from 5.4 per cent in Q3FY22, which will lead to FY22 real GDP growth rate at 8.5 per cent. The report said as expected, the third wave had a ...
ICRA cuts FY23 real GDP growth estimate to 7.2% on impact of Ukraine Crisis
ICRA cuts FY23 real GDP growth estimate to 7.2% on impact of Ukraine Crisis
Source: Accord Fintech
30/03/2022 11:34:22 AM
Ukraine crisis to keep crude prices elevated Global crude oil prices are expected to further rise as Russian-Ukrainian war drags on. The Russia-Ukraine crisis, as well as robust demand, has led to a global hike in crude oil prices. The Brent-indexed crude oil prices stood at over $120 per barrel on last Friday and are expected to range between $115 to $130 per barrel in the coming days. The trend is significant for India since international prices determine domestic petrol and diesel cost. At present, India imports 85 per ce...
Ukraine crisis to keep crude prices elevated
Ukraine crisis to keep crude prices elevated
Source: IANS
28/03/2022 9:07:14 AM
Commodity crisis: Toyota to raise prices by up to 4% from April Automobile manufacturer Toyota Kirloskar Motor (TKM) on Saturday said it will realign the prices of its models, by up to 4 per cent effective from April 1, 2022. According to the company, this hike has resulted due to the rising input cost, including that of raw materials. "As a committed and customer-centric company, TKM has made all conscious efforts to minimise the impact of rising costs on consumers," said TKM Spokesperson in a statement. On Friday, luxury automobile ma...
Commodity crisis: Toyota to raise prices by up to 4% from April
Commodity crisis: Toyota to raise prices by up to 4% from April
Source: IANS
26/03/2022 5:13:49 PM
Gold slips on higher yields, Ukraine worries limit losses Gold prices fell on Wednesday as U.S. Treasury yields gained after Federal Reserve officials insisted on sharper interest-rate hikes to combat inflation, although concerns over the Ukraine crisis slowed bullion's decline. FUNDAMENTALS * Spot gold was down 0.2% at $1,918.29 per ounce by 0130 GMT. U.S. gold futures also slipped 0.2% to $1,918.40. * Benchmark U.S. 10-year Treasury yields jumped to fresh highs since May 2019. [US/] * Fed officials are helping shape market expectat...
Gold slips on higher yields, Ukraine worries limit losses
Gold slips on higher yields, Ukraine worries limit losses
Source: Reuters
23/03/2022 9:08:27 AM
Gold eases as yields climb higher on aggressive Fed stance Gold prices fell on Tuesday as U.S. Treasury yields hit fresh multi-year highs following Federal Reserve chair Jerome Powell's aggressive inflation stance, while safe-haven bullion remained underpinned by escalation in the Ukraine crisis. FUNDAMENTALS * Spot gold was down 0.2% at $1,931.84 per ounce by 0105 GMT. U.S. gold futures were flat at $1,930.20. * Powell indicated that the U.S. central bank would raise interest rates by bigger-than-usual amounts if necessary to bring down...
Gold eases as yields climb higher on aggressive Fed stance
Gold eases as yields climb higher on aggressive Fed stance
Source: Reuters
22/03/2022 8:58:29 AM
Gold little changed as focus remains on Ukraine crisis Gold was unchanged on Monday, hovering near a two-week low it hit last week, as investors eyed developments in the Russia-Ukraine conflict while looking to price in the U.S. Federal Reserve's more aggressive measures to combat inflation. FUNDAMENTALS * Spot gold was flat at $1,921.80 per ounce by 0113 GMT, after touching its lowest since Feb. 28 at $1,894.70 last week. U.S. gold futures were down 0.3% to $1,923.90. * Russian and Ukrainian forces fought for the Ukrainian port city...
Gold little changed as focus remains on Ukraine crisis
Gold little changed as focus remains on Ukraine crisis
Source: Reuters
21/03/2022 8:47:03 AM
SMEs fear huge losses due to aluminium industry's coal crisis The Indian Industrial Value Chain Council (IIVCC), an organisation representing the interests of enterprises involved in the industrial production and consumption supply chain activities across the country, on Monday flagged that more than 5,000 SMEs who are part of the aluminium value chain are at the risk of suffering huge losses if the present coal crisis confronting the primary aluminium industry is not urgently addressed. There are about 1,000 SMEs who are part of the supply chain and...
SMEs fear huge losses due to aluminium industry's coal crisis
SMEs fear huge losses due to aluminium industry's coal crisis
Source: IANS
25/10/2021 3:50:35 PM
Power crisis: Government looks to revise coal stocking norms for thermal plants In a bid to avert power crisis being triggered in the country due to fuel shortages in the months following monsoon rains, the government proposes revise the coal stocking norms for thermal power plants, based on regular shift stock limits, depending on the actual fuel requirement during a particular period. Sources said that the Central Electricity Authority will come up with revised coal stocking guidelines that will have higher stocking requirement for non-pit head power plants while lo...
Power crisis: Government looks to revise coal stocking norms for thermal plants
Power crisis: Government looks to revise coal stocking norms for thermal plants
Source: IANS
21/10/2021 9:14:44 AM
Continued coordinated policy response to combat COVID-19 is critical to overcome health crisis: IMF Observing that a continued coordinated policy response to fight COVID-19 including through vaccines is critical to overcome the ongoing health crisis, the International Monetary Fund (IMF) has said that addressing the long-standing reform priorities and improving education outcomes will be key to help minimize adverse medium-term impacts from the pandemic and further boost long-term growth in India. It further said providing fiscal resources to the health sector and social support to the m...
Continued coordinated policy response to combat COVID-19 is critical to overcome health crisis: IMF
Continued coordinated policy response to combat COVID-19 is critical to overcome health crisis: IMF
Source: Accord Fintech
19/10/2021 12:33:49 PM
All you need to know about India's power crisis It all started almost a week ago when coal shortage in India started making headlines. The crisis compelled Delhi, Tamil Nadu, Karnataka, Punjab and Rajasthan to flag the issue of depleting coal reserves that could lead to prolonged blackout across the country. Even Prime Minister Narendra Modi took stock of the situation in a meeting conducted with senior officials of the coal and power ministries on October 12. The situation was so severe that Delhi's Power Minister Satyendra Jain ha...
All you need to know about India's power crisis
All you need to know about India's power crisis
Source: IANS
17/10/2021 4:43:46 PM
Centre warns states not to sell unallocated power amid energy crisis In a veiled threat, the Centre has warned states of snapping their share of unallocated power if the same is not being used to meeting needs of consumers but being sold on power exchanges at higher rates for gains. The union power ministry directive has come in the wake of several states reporting shortage of power due to a sudden rise in demand but at the same time selling a portion of power available to them at exchanges to maximise gains as prices have shot up to Rs 15 for a unit of ele...
Centre warns states not to sell unallocated power amid energy crisis
Centre warns states not to sell unallocated power amid energy crisis
Source: IANS
12/10/2021 1:48:19 PM
No power crisis in Delhi; Centre directs NTPC, DVC to use quota under PPAs Keeping in view the Declared Capacity (DC) offered to the Delhi DISCOMs in last 10 days, Ministry of power has issued instructions on NTPC and DVC to secure power supply to Delhi. This will ensure that distribution companies of Delhi will get as much as power as requisitioned by them as per their demand. The central power utilities, NTPC and DVC have been directed to offer the normative declared capacity (DC) to the Delhi DISCOMS as per their allocations made to them under respective PP...
No power crisis in Delhi; Centre directs NTPC, DVC to use quota under PPAs
No power crisis in Delhi; Centre directs NTPC, DVC to use quota under PPAs
Source: IANS
12/10/2021 1:43:17 PM
Oil falls after blistering run amid global energy crisis TOKYO - Oil prices fell for the first time in four days on Tuesday, taking a breather, analysts said, after weeks of gains fuelled by a rebound in global demand that is contributing to energy shortages in economies from Europe to Asia. Brent crude was down 26 cents, or 0.3%, at $83.39 a barrel at 0211 GMT, after touching three-year highs on Monday on the way to a 1.5% advance. U.S. oil fell 33 cents, or 0.4%, to $80.19 a barrel, having also gained 1.5% in the previous session, in w...
Oil falls after blistering run amid global energy crisis
Oil falls after blistering run amid global energy crisis
Source: Reuters
12/10/2021 9:27:10 AM
'Sufficient fuel...': Power Ministry rules out any energy crisis in Delhi Delhi will not face any energy crisis as sufficient fuel is being provided to power plants supplying the national capital, Union Power Minister R.K. Singh said on Sunday after reviewing coal stock position in all thermal power plants including those supplying power to Delhi distribution companies. The Central assurance came a day after Delhi Power Minister Satyendra Jain had said that if the coal supply didn't improve, there will be a blackout in Delhi in two days. On October 9, the...
'Sufficient fuel...': Power Ministry rules out any energy crisis in Delhi
'Sufficient fuel...': Power Ministry rules out any energy crisis in Delhi
Source: IANS
10/10/2021 5:12:48 PM
Global cues push up energy crisis in India,Government looks to step up generation The build up power crisis in the country has worsened this month as acute fuel shortages at power plants threaten outages in coming days stalling the revival wheels of world's fastest growing major economy. As per official data, country's 135 odd thermal plants on an average are sitting on just four days of coal stocks at the end of September, down from 13 days coal stocks at the beginning of August. Regulations mandate 22 days of stock at thermal plants. Several plants in the s...
Global cues push up energy crisis in India,Government looks to step up generation
Global cues push up energy crisis in India,Government looks to step up generation
Source: IANS
10/10/2021 1:43:54 PM