India’s industrial production, as measured by the Index of Industrial Production (IIP), contracted for the sixth month in a row in August by 8 per cent y-o-y. However, one good news is that basic metals production improved from a year ago levels. The basic metals sub-index in IIP recorded a growth of 0.1 per cent y-o-y in August. This is significant, since the index was in contraction since February and in April recorded the steepest drop of 70 per cent.

Another optimistic signal is also the recovery in the Purchasing Managers’ Index (PMI). The PMI, which was 52 in August, moved higher to 56.8 in September — the fastest growth since January 2012, recovering from 27.4 in April.

Government housing and electrification projects have been driving demand for metals, say physical market participants. Consumption of long steel has seen sharp recovery – it was 4.5 million tonnes (mt) in August,

Read More

business owners and entrepreneurs. The podcast can be heard at episodes.speakpodcasting.com.

Rodriguez grew up in Longview, Washington, and came to the Spokane area to attend Eastern Washington University, where he earned a degree in marketing. He decided to stay in Spokane because he saw its potential, he said.

He graduated in 2018 and though only 24, he’s already launched several businesses. When he was 17, he started a business repairing iPhones. Then came a clothing company that specialized in socks, which failed. He owned his own residential landscaping company and has regularly done digital marketing consulting. He also owned a private property management company that he shut down to devote his time to Speak Studio.

“I’m a serial entrepreneur at heart,” he said.

Rodriguez decided to rent space in downtown Spokane for his newest venture because he wanted to help bring life to the area. “We love being in the

Read More

SINGAPORE – Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.

Brent crude LCOc1 for December fell 55 cents, or 1.3%, to $42.30 a barrel by 0023 GMT and U.S. West Texas Intermediate CLc1 for November was at $40.08 a barrel, down 52 cents, or 1.3%.

Front-month prices for both contracts gained more than 9% last week, the biggest weekly rise for Brent since June, but fell on Friday after Norwegian oil firms struck a wage bargain with labour union officials, resolving a strike that threatened to cut the country’s oil and gas output by close to 25%.

HURRICANE DELTA ROILS OIL RIGS, SQUEEZES GASOLINE PRICES

“We had good support for both Brent

Read More

By Soumyajit Saha



graphical user interface: A board displaying stock prices is seen at the Australian Securities Exchange in Sydney


© Reuters/DAVID GRAY
A board displaying stock prices is seen at the Australian Securities Exchange in Sydney

(Reuters) – Australian shares struggled for direction on Monday as investors stayed away from making big bets ahead of corporate earnings and production results while awaiting further developments on U.S. stimulus talks.

The S&P/ASX 200 index <.axjo> slipped 0.03% to 6,100.2 by 23:45 GMT, after posting its best week in six months last week.

A slew of Australian companies, including global miners BHP Group and Rio Tinto , are scheduled to report their quarterly production figures later this week, while the ‘big four’ banks will provide the first peek into how lenders fared in the July-September quarter later this month.

The Australian parliament on Friday approved A$17.8 billion ($12.87 billion) in personal tax cuts, quickly pushing through measures announced earlier in the week as part of the federal budget to support

Read More
/quality/85/?url=http://media.beam.usnews.com/02/271c0fcd965c719ecff42b31a5e4a7/tag:reuters.com,2020:newsml_LYNXMPEG940TG:12020-10-05T100626Z_1_LYNXMPEG940TG_RTROPTP_3_LIBYA-OIL-TANKER.JPG">

LONDON (Reuters) – Libyan oil production has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd as exports ramp up, a Libyan oil source told Reuters on Monday on condition of anonymity.

The easing of a blockade by eastern forces has allowed the OPEC member to ramp up exports with the reopening of the Marsa El Hariga, Brega and Zueitina terminals.

Exports have yet to resume from the Ras Lanuf and Es Sider oil terminals.

The National Oil Corporation (NOC) said it would only resume operations at oilfields and terminals where militants had vacated their positions.

The blockade, which began in January, reduced Libya’s output from more than 1.2 million bpd to around 100,000 bpd.

The Episkopi oil tanker loaded a 600,000 barrel crude cargo for Austria’s OMV

at Zueitina over the weekend and departed for Italy on Sunday, a local shipping agent said.

Read More

Panelists at a webinar on National Sustainable Spice Programme (NSSP) on Cardamom highlighted the need for making 25 per cent of spices grown in India sustainable by 2025.

Towards achieving this objective, they urged the active involvement of all the stakeholders in the NSSP initiative. The webinar was conducted as part of the launch of NSSP for cardamom for the benefit of farmers and other stakeholders of the cardamom sector.

D Sathiyan, Secretary, Spices Board, pointed out the challenges faced in the cardamom sector and the need for addressing the issues of quality and food safety across the entire spices supply chain, starting from the cultivation stage. The emphasis on food safety, quality and sustainability is the need of the hour to retain the country’s dominant position in the traditional export markets, while increasing the market base to cover new markets for Indian spices, he said.

Spices Board, in collaboration

Read More

The COVID-19 pandemic just claimed another victim in the aerospace industry: Boeing‘s (NYSE: BA) experiment with building the 787 Dreamliner wide-body jet in two different facilities. On Thursday, the aircraft manufacturer confirmed recent news reports, saying that it will end 787 production at its main wide-body plant in Everett, Washington, by mid-2021. Its newer factory in North Charleston, South Carolina will become its sole 787 assembly plant thereafter.

This long-rumored move represents a major blow to Washington’s aerospace industry. It also suggests that Boeing does not expect 787 production to return to 2019 levels at any point in the foreseeable future.

COVID-19 forces a rethink at Boeing

Just last year, Boeing increased production of the 787 family of small and medium wide-body jets to meet high demand. During 2019 and early 2020, the company built 787s at a rate of 14 per month, up from 12 per month previously.

Read More
/quality/85/?url=http://media.beam.usnews.com/65/962ee39753cc2e828420fc7f9351e0/tag:reuters.com,2020:newsml_LYNXMPEG911II:12020-10-02T135630Z_1_LYNXMPEG911II_RTROPTP_3_LIBYA-OIL.JPG">

LONDON (Reuters) – Two weeks into an easing of a blockade by eastern forces on Libya’s oil infrastructure, the OPEC member is seeing a ramp up in oil production, which has risen nearly three-fold to hit 270,000 barrels per day this week.

Since the toppling of the regime of Muammar Gaddafi in 2011, oil production in the country has been on a roller coaster, with multiple disruptions over the years crippling its ability to export crude, its primary source of income.

(Graphic: Libya Oil Output – https://graphics.reuters.com/LIBYA-OIL/qmyvmbwlbpr/chart.png)

Exports have nearly doubled to 200,000 barrels per day in September on a monthly basis, according to oil analytics firm Vortexa.

Exports are expected to rise even further, bar any new disruptions, with the reopening of the Marsa El Hariga, Brega and Zueitina terminals.

(Graphic: Libya Crude and Condesate Exports – https://graphics.reuters.com/LIBYA-OIL/rlgpdjeydpo/chart.png)

With a weak demand outlook due to the spread of COVID-19

Read More

New York City could have 40 or more productions underway by year end, bringing it decisively back to pre-COVID-19 levels as an industry ramp-up that started in September gathers steam into the fall.

That’s great news for the entertainment business, a welcome shot to the local economy and a heartening boost of in-person bustle —  with strict protocols — in a city where block after block of offices towers sit empty, tourism is shot and unemployment soaring.

“The parking lot is full,” said Doug Steiner, the real estate developer and CEO of Steiner Studios. “Everyone’s back,” he said, referring to nine productions that include Amazon’s The Marvelous Mrs. Maisel — in lengthy pre-production and eying a January 2021 start — and Showtime’s City On a Hill — also in preproduction and gearing up. Starz’s Power Book II: Ghost is shooting pickups for its current season.

Steiner said 1,500-2,000 people daily

Read More

SEATTLE (AP) — Boeing said Thursday it will shut down the original assembly line for its two-aisle 787 jetliner near Seattle and consolidate the plane’s production in South Carolina as the airline industry tries to weather the global pandemic.

The move will begin in mid-2021. The company intends to keep assembling other jetliners — the 737, 747, 767 and 777 — in the Seattle area.

“Consolidating to a single 787 production location in South Carolina will make us more competitive and efficient, better positioning Boeing to weather these challenging times and win new business,” Stan Deal, CEO of Boeing’s commercial aircraft business, told workers in an email.


The company did not immediately say whether jobs would be eliminated in the move, but Rep. J.T. Wilcox, the Republican leader of the state House of Representatives, posted on Facebook following a call with the company that the decision would affect about 900

Read More