JSW Infrastructure, the ports division of Sajjan Jindal’s JSW Group, has submitted bids for the purchase of three ports as part of the government’s privatization initiative totaling Rs.2,000 crore. The company’s capacity would increase by another 10–12% thanks to these ports. In a separate development, the second-largest commercial port operator in the nation based on…
After the completion of these projects, India will burn 292 million tonne (MT) more coal yearly, according to power minister RK Singh’s announcement that the country will add additional 25 to 30 gigawatts (GW) of thermal power to its existing 49 GW of coal-based plants. The typical plant load factor (PLF) in India is 65%-75%,…
The U.S. dollar lost ground on six-month highs reached last week, while gold prices rose to two-week highs on Tuesday as investors’ attention turned to the Federal Reserve’s two-day policy meeting, which gets underway later in the day. FUNDAMENTALS After reaching its highest price since September 5 earlier in the session, spot gold was stable…
Tuesday marked the fourth straight session of rising oil prices as concerns about a supply shortage brought on by Saudi Arabia’s and Russia’s prolonged production cuts increased in response to the U.S.’s lackluster shale output. While Brent crude prices, the international oil benchmark, increased by 58 cents, or 0.61%, to $95.01 per barrel, U.S. West…
This year, consumers will spend more than ever during the holiday season of October to November, which includes Dussehra and Diwali, as many break free from months of restrained spending. According to predictions made by businesses, consultancies like Deloitte and Redseer, and industry groups like the Confederation of All India Traders (CAIT) and the Clothing…
Profit taking caused by worries about China’s demand, a significant buyer, caused cotton candy prices to end the day down by -0.23% at 60,840. The estimates for cotton in the United States for 2023–2024 show higher initial stockpiles but decreased production, exports, and ending stocks. High beginning stocks for 2022–2023 were also a result of…
As investors priced in a pause in interest rate increases by the Federal Reserve during its policy meeting this week, with a focus on the U.S. central bank’s rate outlook, gold prices nudged higher on Monday. The price of spot gold increased 0.2% to $1,928.19 per ounce. American gold futures increased 0.2% to $1,949.30. Ahead…
The windfall tax on domestic crude oil output has been raised by the Union government from Rs. 6,700 per tonne to Rs. 10,000 per tonne. The price hike will take effect on September 16. The special additional excise tax (SAED) on aviation turbine fuel (ATF) has been reduced by the government from 4 to 3.50…
On Friday, Tata Steel and the UK government jointly pledged £1.25 billion in investments to upgrade the Port Talbot plant’s coal-based electric arc furnace (EAF) to a lower-emission model. While the UK government will give up to £500 million, Tata Steel would invest around £700 million over the course of the following four years from…
According to a report released on Friday by the Reserve Bank of India, India’s foreign exchange holdings decreased by USD 4.992 billion to USD 593.904 billion for the week ending September 8. The pot had increased by USD 4.039 billion to USD 598.897 billion over the previous reporting week. The nation’s foreign exchange reserves hit…
