By Administrator_India Capital Sands Indian Prime Minister Narendra Modi’s government has extended a nationwide coronavirus lockdown until May 17 but has allowed some relaxations, which will take effect on Monday. The following lists what remains banned and what is permitted: NATIONWIDE: Travel by air, rail, and metro and inter-state movement
Floods and severe lockdowns in China have hampered farming to the point where the country’s winter wheat harvest, which begins next month, remains one of the biggest unknowns in a global economy already beset by high commodity prices. According to the New York Times, if the Chinese harvest is poor
On Tuesday, oil prices fell more than 1%, continuing the previous day’s severe drop, as coronavirus lockdowns in China’s main oil importer, a strong dollar, and mounting recession threats fueled concerns about global demand. After falling as low as $103.19, Brent crude slid $1.31, or 1.2 percent, to $104.63 at
To address India’s ongoing power crisis, the Centre has invoked Section 11 of the Electricity Act, requiring all imported coal-based projects to generate power at full capacity, according to a statement issued by the Ministry of Power on May 5. “All imported coal-based power plants shall operate and generate power
On Friday, the coal ministry will host a high-level Investors’ Meeting to encourage private-sector investment. Coal Minister Pralhad Joshi will kick off the event, which will take place in Mumbai. “Joshi will hold a high-level Investors’ Meet in Mumbai on May 6, 2022, focusing on the topics of ‘Launching of
India’s product exports increased by 24.2 percent year on year in April to $38.2 billion, the third-highest level ever, because of rising commodity prices despite the ongoing Russia-Ukraine conflict, according to preliminary trade data issued by the commerce ministry on Tuesday. The previous month had seen $42.2 billion in outbound
Zepto, a rapid commerce startup founded by two 19-year-old Stanford dropouts nine months ago, has raised $200 million in a Series D funding round, valuing the company at about $900 million. Zepto intends to use the funds to expand 10-minute grocery delivery across the country and continue to grow responsibly.
Former coal secretary Anil Swarup remarked on April 30 that the coal crisis will return unless long-term solutions such as expanding Coal India’s production are found, as electricity shortages continue to plague significant portions of the country. “Coal is on fire again and will keep catching fire if long-term solutions