India's recent decision to raise the duty on iron ore lumps will rein in export of the commodity further. The government last week increased the export duty on iron ore lumps to 15% from 10% to discourage exports and improve raw material availability for local steel mills. India's iron ore lump exports was around 11 million tonnes in 2009-10 and declined by 28% in the past four years from a peak of 15.3 million tonnes in 2006-07.
India's coffee exports surged by 37% in the seven months ended in February due to the strong demand from the major importing countries, said Coffee Board of India. Overseas sales in the January-April period were 102,258 tons, compared with 71,502 tons, Nagarajaiah said. Shipments included 18,871 tons of re-exports, up from 5,338 tons in the year-earlier period, he said. Italy and Russia were among the buyers of Indian coffee.
Over past fifty years, Gujarat has been a key contributor to India's industrial development specifically on the back of its resource richness minerals. Mineral resources, which are the important factors for the growth of state economy, are equally important as a yardstick to measure the overall economic growth. Gujarat, better known for its manufacturing sector, has been a rich source of various minerals that are directly or indirectly a basic raw material for strategic industries in the country...
Those investors who were banking on the bad news from Europe to help gold prices rise may have to think twice. With several market analysts predicting a big bull run in bullion, investors have been rushing to gold as a safe haven following the disastrous news spread about the financial crisis in Spain, Portugal and Greece. And, this week more doomsday predictions cropped up about an imminent slump in China also.
China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to mop up excess cash in the economy at a time when inflation is on the rise.
Three greenfield International Exchanges of Financial Technologies Group, a leading global player in creating next-generation financial exchanges and ecosystem ventures, will be going live in 2010. SMX (Singapore Mercantile Exchange) will go live in August 2010, GBOT (Global Board of Trade, Mauritius) in September 2010 and BFX (Bahrain Financial Exchange) in October 2010.
China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to mop up excess cash in the economy at a time when inflation is on the rise. The People's Bank of China said it was lifting lenders' reserve requirement ratio by 50 basis points, effective May 10, its third increase of that magnitude this year.
China on Sunday raised the proportion of deposits that lenders must keep in reserve at the central bank, another step in its months-old campaign to mop up excess cash in the economy at a time when inflation is on the rise.
India Post has launched gold coins with India Post logo for sale to the customers across India. The gold coins will be of the denomination 0.5 g, 1 g, 5 g and 8 g of 24 carat with 99.99 % purity. Apart from enhancing the revenue of the Department, this will enable India Posts to usher in a new image of India Post as a modern and relevant organization to the public in all areas of life.
China reaffirmed on Sunday its resistance to pressures to let the yuan CNY=CFX rise sharply, dismissing arguments that its foreign exchange policy was mainly responsible for the country's trade surplus.
Australia's government angered its booming resources sector on Sunday by unveiling a new tax on mining projects from July 2012 under a sweeping pre-election tax overhaul which will also boost pension savings for workers.
The National Spot Exchange Limited (NSEL), India has recorded a turnover of Rs 2084.29 lakhs with total of 478 trades at the end of the first trading session. The turnover in bullion was Rs. 316.30 lakhs and in agri commodities Rs. 1767.99 lakhs.
The United States on Friday placed Russia on its list of countries with the worst records of preventing copyright theft for the 13th straight year, just days after the two nations agreed to intensify talks on Moscow's bid to join the World Trade Organization.
A dynamic model was used to make coffee projections. It covers the major exporting and importing countries of green coffee. Supply, demand and stock functions were estimated for each of the major exporting and importing countries. The model performs dynamic simulation forward in time and generates forecasts on the basis of assumptions for the future behaviour of GDP, consumer price indices and exchange rates.
Better known as a hub for diamond and textile industries, Surat will soon have additional feature to its fame as the city-based entrepreneurs are now exploring business opportunity in more natural and high-end fabric material - Linen.
World's largest gold producer is also set to take India's centuries-old gold crown as the world's top gold consumer. After knocking South Africa out of first place as the world's largest gold producer in 2007, it now appears China will overtake India as the world's leading gold consumer when industry figures are released in mid-February.
Developing markets were critical for consumer product makers last quarter, as strong sales growth in countries like China helped drive profits while markets such as the United States remain somewhat sluggish.
SAP AG will start selling a long-delayed suite of Web-based software for running small to mid-sized businesses in July, a top company executive said on Wednesday.
Remember the impact of Reserve Bank of India's decision to buy 200 tonnes of gold from International Monetary Fund (IMF) in November 2009 had on the price of yellow metal? That time gold prices soared to new heights because the world feared that India is shifting its foreign reserves to gold expecting the dollar to crash.
Strong demand for industrial goods from customers in emerging economies helped a half dozen U.S. manufacturers produce pleasant earnings surprises on Tuesday.
A trio of reports from top household products makers is likely to show that consumers are truly back to buying and could be the catalyst the companies need to gain favor with investors.
Switzerland's economy minister said she hoped parliament would not link a deal between UBS and the United States on disclosing secret bank accounts with questions such as bankers' bonuses, the newspaper Sonntag reported on Sunday.
