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| December 21, 2007 | | Energy bill gets US Congress approval
The bill which passed on a bipartisan vote of 314 to 100, sets higher fuel economy standards for cars and light trucks for the first time in 22 years and requires the annual production of 36 billion gallons of renewable fuels by 2022.
Changing global economic scenario
America used to "drive the bus" in global economic terms; now other areas of the world are getting more attention. The U.S. consumer used to be unstoppable; now the cracks are starting to show. The U.S. financial sector used to be a massive profit center; now it is more like a massive black hole.
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| December 17, 2007 | | What will be the oil price at Christmas?
Remember that oil prices do not knock through into economies straight away, the impact is delayed, maybe as much as 18 months in some cases.
'Dollar's holed up in a hotel shooting neat Vodka'
Turning tail from its worst valuation ever on the world's currency markets, the US Dollar has now gained more than 3% since the start of November.
Indian jewellery exports to US may get hit
Several exporters in Surat said they are finding it tough to clear their stocks for Christmas as they are not in a position to contain the price rise caused by the GSP withdrawal and strengthening of rupee against dollar.
Commodity futures training now in IIM
A press release by the IIM says that the seminar is expected to see representation from from Punjab, U.P, Maharashtra, Uttarakhand, Chhattisgarh, Orissa, Tripura, and Assam.
Rabi wheat sowing to gain momentum soon
According to a Centre for Monitoring Indian Economy press note, nearly 30.6 million hectares were sown as of November 23, against 34.5 million hectares a year ago.
More commodities to figure in NCDEX Spot
According to officials, after launching sugar successful on its electronic platform, NCDEX Spot has decided to go in for more commodities.
US strengthens agri trade with China
Giving a clear signal to the world that the US is all set to tap the China market, the US Department of Agriculture last week opened a new agricultural trade office in Chengdu, the capital of southwest China's province of Sichuan.
Praj Ind, Icrisat join hands to produce ethanol
India's biofuel sector witnessed another boost this week with Praj Industries, the Pune-based biofuel technology company, joining an Icrisat-backed consortium to promote ethanol production from sweet sorghum.
Chhattisgarh paddy farmers reap rich dividends
According to agriculture department officials, the state is heading for a bumper paddy harvest despite a slight reduction in acreage compared with the previous year.
India needs 51 million truck drivers
The study paper -- 'Skills Gaps in the Indian Logistics Sector' -- estimates that currently India has only some 3 million truck drivers for medium and heavy commercial vehicles. Even if 50 per cent of all drivers in India are to be trained, almost 125 institutes of the size and scale of the existing one in Namakkal will be required in the next 7-8 years, says the paper.
MCX: Emerging global leader in commodities
ICICI Venture Funds Management Co. acquired 3.55 per cent, Infrastructure Leasing & Financial Services 5 per cent and Kotak Group 1 per cent in MCX from the holding company Financial Technologies. The transaction values the company at $1.1 billion.
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| December 15, 2007 | | What will be the oil price at Christmas?
In talking about the market in crude oil we often looks for items, events, and structures that repeat themselves. We pin some kind of faith on them because we are unable to see the future with any real clarity. For regular readers of this column, you will realise that this is the start of an explanation as to why we predicted crude oil would be $66.60 at Christmas.
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| December 14, 2007 | | Meet the hottest commodity trader
His name is Lee Lowell -- and he's one of those rare men in the investing world. He's not about flash. He doesn't drive a fancy car or wear $2,000 suits. He's not about climbing the ladder at any of those hotshot trading firms (though any firm would be glad to have him).
Can Darjeeling Tea win back its old charm?
Fears of 'Darjeeling Tea' losing its charm have been growing for quite sometime now. Another factor added to the worries of 'Darjeeling Tea' producers was the plantations' heavy dependence on fertilisers and pesticides that were being hawked by foreign corporations. In the recent days, there is a wind of optimism blowing through the Darjeeling hills, and a growing sense that Darjeeling Tea is on its way to reclaiming its legendary status.
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| December 13, 2007 | | Will all metals plunge on a global recession?
Will a US recession tip the entire metals complex, including Gold Prices, sharply lower in 2008...? Add the falling dollar to rosy growth forecasts from China and what do you get? If you guessed higher commodity prices, you get a gold star. Yet among the big investment institutions, there's mixed opinion about what metals prices will do in 2008.
Gold prices will zoom to record levels in 2008
Gold price will surge to a record high of $900/oz, driven by a weaker US dollar and economic turmoil in 2008, while a surplus in the metal will narrow by 97 tonnes, possibly dipping into a deficit, keeping prices strong, according to the VM Group/Fortis bi-annual The Yellow Book.
US, China ink biofuels cooperation pact
The two countries agree to work together on the scientific, technical, and policy aspects of biofuels development, production, and use. These areas include biomass production and sustainability, conversion technologies, bio-based products, and rural development strategies.
Global agriculture boom has just begun only...
Worldwide food demand is growing, and continued economic growth around the world is only going to spur more and more food demand. Once you add the growth in the world population to the mix, you've got one heck of an investment opportunity cropping up (pardon the pun) in the agricultural industry.
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| December 12, 2007 | | MCX mulls IPO again
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
Check out India's first commodity cards
This card is a variation of the popular Kisan Credit card.G-Card was distributed to nearly 3,500 small and marginal farmers growing ginger in the remote militant infested district of Karbi Anglong. The card has brought a lot of benefits to the farmers of the area, who often had to shell out 'revolutionary taxes' on cash transactions.
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| December 11, 2007 | | India to open 57 oil blocks for global bidding
The Indian government said on Monday that it will offer 57 oil and gas blocks for bidding in the seventh round of auctions under New Exploration Licensing Policy. The bidding opens on December 13. Petroleum Minister Murli Deora said that the bidding may see steel baron Lakshmi N Mittal bid for the first time.
All about gold mining in India
India is the largest importer and consumer of gold in the world; but gold mining remains at very low levels. The country imported an estimated 443 tonnes of gold during in the first six months of the current fiscal, valued at $5.82 billion. Faced with the low production of gold, the Indian government has asked domestic gold miners to actively explore joint venture with foreign companies to speed up exploration of the yellow metal within the country.
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| December 10, 2007 | | Why Apple is the most sought after retailer
While initial Black Friday numbers out of the retail sector seemed promising, official November sales left much to be desired. Fifty-one percent of retailers missed projected November sales numbers. And we all know how the Street feels about missed numbers. Target got severely punished after missing its analyst-predicted mark.
India, China drive global oil market
What is driving prices and what has been driving prices since 2003, is fundamentals. The entire oil market - and to a large extent the fate of the global economy - sits on the shoulders of China and India. These two huge nation states, murderous, corrupt and with so many of their populations impoverished, await an influx of oil.
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| December 07, 2007 | | European cos sign up for Angola gas project
A consortium of European companies has signed up an agreement with Angolan government for exploration of its gas and oil reserves.
India's 'golden' growth story
India's fascinating success story in the gems and jewellery industry continues to glitter. In the last few years, there has been a massive growth in the purchasing parity of the middle class and surging income levels in India.
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| December 06, 2007 | | How did 'Inflation' originate?
Inflation proper is not even a zero-sum game of conman and conned (a violation of property rights risibly known as 'forced saving' to the mainstream economist). Instead it is a fast-spreading pestilence which blights even that portion of the harvest which the Inflators are carrying out of the community silo as part of their ill-gotten booty.
India eyes Saudi Arabian jewellery market
Worried over the rupee strengthening against dollar and the US government's decision to impose fresh duty on jewellery imports from India, the Indian gems and jewellery sector is looking for new areas like Saudi Arabia to sell their products.
Oil price volatility worries OPEC
The Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain the current production level without any change in the first half of next year. The ministerial monitoring committee of OPEC took this decision in Abu Dhabi on Wednesday.
'Farmers must get 5-year credit cycle'
The need of the hour for farmers in drought-hit areas is a four to five year credit cycle with an interest rate of around four per cent, said renowned agricultural scientist Dr M S Swaminathan.
Indian PSUs to acquire coal mines abroad
The Indian public sector companies are planning to acquire coal mines abroad with a huge investment of Rs 3500 crore (Rs 35 billion) to meet country's demand of steel industry and power sector.
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