“Steel demand has somewhat receded with transaction volumes falling and destocking slowing down,” analysts at Everbright Futures said in a note. Iron ore futures prices slid on Monday after some investors and traders liquidated long positions to cash in profits on bets of faltering consumption amid seasonally slack steel demand in top consumer China. Meanwhile,… Continue reading Iron ore dips as falling China demand, high shipments weigh
Author: Economic Times of India Online News
China’s industrial profits return to growth in April; auto sector contributed 8% in country’s GDP
Li Auto, one of the few profitable Chinese EV makers, posted a 37% drop in first-quarter profit, missing estimates. China’s industrial profits swung back into positive territory in April while growth over the first four months held steady, official data showed on Monday, suggesting policies to bolster the economy were starting to take effect. Profits… Continue reading China’s industrial profits return to growth in April; auto sector contributed 8% in country’s GDP
China Evergrande EV unit shares skyrocket after liquidators agree to sell stake
The three collectively hold 58.5% of the cash-strapped EV unit, whose factory in the northern city of Tianjin stopped production at the start of 2024. Shares of China Evergrande New Energy Vehicle Group more than doubled on Monday as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell… Continue reading China Evergrande EV unit shares skyrocket after liquidators agree to sell stake
Rupee set to open steady to higher on Monday
The dollar index was at 104.7 after declining nearly 0.3% on Friday as traders likely booked profits after recent gains. The Indian rupee is expected to open little changed to slightly higher on Monday, with an uptick in most Asian currencies likely to help the unit extend gains beyond the two-month high hit last week.… Continue reading Rupee set to open steady to higher on Monday
Challenges and opportunities for India’s renewable hydrogen industry
Despite these challenges, India’s renewable hydrogen/ammonia is expected to remain competitive globally due to its cost advantages. India is positioning itself as a key player in the renewable ammonia market with several international trade agreements already inked and more on the horizon. According to S&P Global Commodity Insights, however, industry insiders emphasize the need for… Continue reading Challenges and opportunities for India’s renewable hydrogen industry
For road transport operators, revenue growth expected to double to 9-11% this year
Reports suggest that auto manufacturers will soon have to install air conditioners inside driver cabins of trucks, and the rollout is expected to begin sometime in 2025. New Delhi: Revenue growth for road transport fleet operators is expected to double to 9-11 per cent in the current financial year 2024-25, according to a report by… Continue reading For road transport operators, revenue growth expected to double to 9-11% this year
EU should follow US on tariffs over Chinese goods, Italy minister says
Urso called for a stronger industrial policy by the European Union as the bloc approaches European Parliament elections next month. The European Union should follow the example of the United States and protect its industry by imposing tariffs on Chinese products, Italian Industry Minister Adolfo Urso said on Saturday. U.S. President Joe Biden unveiled steep… Continue reading EU should follow US on tariffs over Chinese goods, Italy minister says
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
India is seen by international agencies and top rating firms as an emerging economic superpower of the world. While risk of global recession has receded but concerns of inflation is impending which re-ignites the risks of global financial stability. IMF, World Bank and prominent rating agencies have predicted further slow-down in global growth this year.… Continue reading India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Road Ministry against hike in project lending rates, bats for status quo
The central bank earlier this month proposed tighter norms, requiring lenders to allocate 5% of the project loan amount as general provisions during the construction phase, up from 0.4% provisions now. The ministry of road transport and highways will bat for status quo in project finance lending rates even as it seeks views from all… Continue reading Road Ministry against hike in project lending rates, bats for status quo
NHAI’s asset monetisation drive poised to generate up to INR 60,000 cr in FY2025
In April 2024, NHAI announced an indicative list of 33 road assets targeted for monetisation in FY2025. New Delhi: The National Highways Authority of India (NHAI) is on track to bolster its revenue through a targeted asset monetisation strategy, potentially fetching up to INR 60,000 crore in the fiscal year 2025, according to an assessment… Continue reading NHAI’s asset monetisation drive poised to generate up to INR 60,000 cr in FY2025