INTERNATIONAL DEMAND
What is the A-321 XLR aircraft? Why is there an increasing demand for this Airbus product?
The A-321 XLR aircraft has the capacity to travel long distance non-stop. Many airlines around the world are placing orders with Airbus.
Record upturn in job creation drives India's manufacturing PMI to 58.3 in June
Activity in India's manufacturing sector rebounded last month with an increase in output driven by robust demand, leading to the fastest rate of hiring in over 19 years despite ongoing inflationary pressures, according to a survey.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
Satellite launch market grim, need to create internal demand: ISRO chairman S Somanath
ISRO chairman S Somanath stresses the need to create internal demand for rockets, referencing PSLVs, SpaceX, and Blue Origin's strategies.
India to lead world in fuel demand growth: IEA
India, the third-largest oil importer globally, is set to drive oil demand growth according to the IEA. Forecasts predict a significant rise in consumption by 1.3 million barrels between 2023 and 2030, with India's demand exceeding China's. The nation's expanding economy and growing population are key factors in this surge. With a focus on road transport fuels and limited petrochemical growth, India's refining capacity is also expected to increase to meet rising demands, making the country heavily reliant on oil imports.
Fertiliser, agrochemical stocks rally as monsoon arrives early
Fertiliser and agrochemical companies like FACT, Nova Agritech, and Rallis India saw a boost in shares as the monsoons arrived early. Analysts expect increased demand for products due to favorable weather conditions, with specific bullish recommendations for Coromandel International and other companies.
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Over half of Aramco share sale allocated to foreign investors: Sources
Saudi Arabia placed over half of an $11.2 billion share sale in Aramco with foreign investors, two people with knowledge of the matter told Reuters on Saturday. Saudi Arabia has been seeking to lure international investment to pour tens of billions of dollars into projects to diversify away from its reliance on oil. Yet foreign investment has repeatedly missed targets.
Demand under rural jobs scheme eases again in May
Demand for work under India's rural job guarantee scheme, MGNREGS, dropped for a seventh consecutive month in May, signaling improved economic conditions at the start of the fiscal year. About 37.46 million individuals sought work, down 12.1% from the previous year, with 27.18 million households seeking work, a 14.3% drop. The trend is attributed to better-paying job opportunities and the impact of heat waves across the country, although the data is subject to revision.
India airline industry to report wider loss in FY25, consultancy says
India's airline industry is projected to face widening losses of $400-600 million in fiscal 2025 due to escalating costs despite increased passenger demand. CAPA India forecasts a rise in yields by 1% this year, with overall costs to increase by 3.8%. The market is dominated by low-cost carrier IndiGo, while the Air India group and newer carriers like Akasa Air and SpiceJet also play significant roles. Domestic passenger traffic is expected to grow to 161-164 million, with international traffic reaching 75-78 million, reflecting India's status as the world's fastest-growing aviation market.
China's manufacturing surges, Caixin PMI shows, but global risks grow
To counter soft domestic demand and a years-long property crisis, China has boosted infrastructure investment and ploughed funds into high-tech manufacturing to bolster the broader economy this year.
Rising heat cools mfg PMI to 3-mth low as input costs bite
Manufacturing activity decreased to 57.5 in May from 58.8 in the previous month due to heatwaves and rising costs, as per a private survey by HSBC. The sector saw a softer rise in new orders and output, impacting work hours and production volumes for manufacturing firms.
OPEC+ extends major oil production cuts until 2025 to stabilise market
OPEC+ has announced an extension of its substantial oil production cuts into 2025, aiming to stabilise the market amid sluggish demand growth, elevated interest rates, and increasing U.S. oil production. The group will maintain its current reduction of 5.86 million barrels per day (bpd), with specific cuts being extended and gradually phased out.
China's factory activity growth hits 2-year high, Caixin PMI shows
The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates growth from contraction.
India imports more silver in 4 months of 2024 than in all of 2023
India's silver imports in the first four months of 2024 have surpassed the total for all of 2023, driven by rising solar panel demand and investor interest. The country imported a record 4,172 metric tons, up from 455 tons a year ago. This surge supports global prices and outperforms gold.
India's natural gas demand to rise 7% in 2024, says IEA
Natural gas demand in India is projected to increase by 7% in 2024, primarily due to heightened usage in the industrial and fertilizer sectors. Additionally, the occurrence of heatwaves across the country will lead to higher usage in the power sector. However, despite this, the overall growth in natural gas consumption is expected to be slightly lower compared to 2023, when it saw a growth of nearly 10%.
Average air ticket prices spike 9 pc in Jan-March period: FCM Travel
International air capacity has also increased 14 per cent due to India's growing aviation sector, Sodhi said, adding that average international airfares have softened 15 per cent, which is a general global trend of yields decreasing across airfares.
Airfares peaking as travellers in Europe, Asia seek savings
Airfares in Europe and Asia are plateauing or declining, signaling a slowdown in post-COVID travel demand. Airlines are facing challenges with higher costs and limited aircraft availability.
Goldman Sachs expects oil demand to keep growing until 2034
The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million barrels per day (bpd) from 106 million bpd, and expects demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, analysts led by Nikhil Bhandari said in a report.
Oil prices little changed as markets look to OPEC+ meeting
Oil prices in holding pattern ahead of OPEC+ meeting on June 2 to discuss maintaining output cuts. Brent crude contract inches up to $82.23 a barrel in early Asian trading.
21 international organisations write to CJI for speedy resolution of Adani coal imports case in SC
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
Page Industries Q4 Results: Firm misses earnings estimates on high inventory costs, muted demand
The company reported an inventory cost of 364.6 million rupees, compared to a negative 1.83 billion rupees in inventory value a year ago.
Zinc demand in India likely to double in next 5-10 years
The demand for zinc in India depends largely on the growth of the steel market as zinc is mainly used to galvanise steel to protect it from corrosion. "I see a doubling of the demand (for zinc) in the next five to 10 years. The market for primary and refined zinc in India is currently close to 800 to 1,000 tonnes (per annum) and has a great opportunity to increase with all the developments that we are witnessing in India."
Motherson Sumi Wiring India Q4 Results: Firm posts rise in profit on steady demand
Motherson Sumi Wiring India on Thursday reported a 38% rise in fourth-quarter profit, aided by strong demand for automobiles.
Oil prices slide 1% to 11-week low on weaker IEA 2024 demand forecast
Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year.
IEA lowers global oil-demand growth forecast for 2024
IEA forecasts slower global oil demand growth in 2024 due to mild winter and declining diesel car fleet in developed economies. China to lead demand gains in 2024 and 2025. Structural headwinds like rising vehicle efficiencies also impact demand.
Onion prices fall by 15% due to lack of export demand
India lifted export ban on onions, impacting domestic and international markets. Exporters face limited demand with Indian onions more expensive than Pakistani onions due to $550 per tonne minimum export price. Overseas buyers stocked Pakistani onions, leading to a crash in prices.
Nevermind those EVs — oil demand keeps growing
Oil demand concerns persist as Brent crude prices have been fluctuating. Gasoline consumption are rising despite push for electric vehicles.
Pvt sector capex likely to expand amid expectations of high growth: Experts
CII's business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement in private capex in the first half of FY25 compared with the second half of FY24.
OPEC switches to 'call on OPEC+' in global oil demand outlook, sources say
OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group.
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