Nickel on MCX settled down -0.31% at 651 after LME prices dropped by 1 percent at $10,030 on prospects of rising Indonesian supply. Indonesia's state-owned miner Aneka Tambang (Antam) has been granted an initial approval to export up to 2.7 million tonnes of nickel ore over the next 12 months, a mining ministry official said. There was news that 4 Indonesian nickel ore mining firms are applying for ore export quotas, and Antam got the initial clearance for Indonesian nickel ore exports.
Zinc on MCX settled down -2.88% at 178.85 as LME zinc finished the day down 3.1 percent at $2,770 due to concerns over failure in output cut by zinc smelters. Zinc prices standouts among a brightening outlook for base metals, with supply constraints and China-driven demand set to lift prices in coming months. Zinc mines in Huayuan County, Hunan Province were forced to slash or suspend production recently since the region stepped up environmental protection. Some mines that had passed inspections were also affected by this round of environmental protection and will delay restarts until late April or early May.
Copper on MCX settled down -0.79% at 380.75 as the end of a strike at Peru's biggest copper mine dampened fears of reduced supply that had driven the metal higher this quarter. Activity in China's manufacturing sector unexpectedly expanded at the fastest pace in nearly five years in March, adding to evidence that the world's second-largest economy has gained momentum early this year, an official survey showed. Freeport McMoRan Inc's Indonesian unit is close to reaching a deal that would allow the world's biggest publicly listed copper producer to temporarily resume concentrate exports, Indonesia's mining minister said.
Naturalgas on MCX settled down -0.68% at 205.8 as investors began to contemplate how much natural gas will be added to storage as spring begins. Meanwhile, traders continued to monitor shifting early-spring weather forecasts. Weather systems will track across the country the next several days with rain, snow, and thunderstorms, but with limited cold air as they play out spring-like, according to forecasters at NatGasWeather.com. There remains potential for a bit colder system from April 7 through the 10th and will be dependent on how a weather system tracking over the southern U.S. phases with a cold blast over the Midwest. Total natural gas in storage currently stands at 2.049 trillion cubic feet, according to the U.S.
Crudeoil on MCX settled up 0.46% at 3284 on a growing sense that OPEC and non-member Russia would extend their production cut, seeking to drive the market higher. The U.S. energy department released supply and demand figures for January, the latest month available, saying the country's oil demand for that month was up 0.9 percent at 19.234 million barrels per day, while production rose 60,000 bpd to 8.835 million barrels. Energy services firm Baker Hughes said U.S. oil rigs increased by 10 to 662 in the week, making the first quarter the strongest for oil rig additions since mid-2011.
Silver on MCX settled up 0.42% at 42326 buoyed by a weaker dollar, after the release of mostly negative economic data while uncertainty over the outcome of the European elections continued to increase demand for the metals. Prices remained steady with global political uncertainty, the upcoming elections in Europe in particular, seen supporting prices of the metal, driving the metal to its best quarter in a year. Prices recovered from a dip earlier in the session, as the dollar slumped to lows, after the latest batch of economic data revealed a slowdown in personal spending and consumer sentiment. The University of Michigan said its consumer sentiment index slipped to 96.9 in March from an initial estimate of 97.6, which was well below forecast of an unchanged reading.
Gold on MCX settled up 0.28% at 28742 as uncertainty over U.S. President Donald Trump's tax and investment plans and elections in Europe fuelled demand for bullion as a safe haven. Gold rebounded from early losses as the dollar turned flat after a Federal Reserve official's seemingly dovish remarks and uninspiring data on the U.S. economy tamped down the sanguine mood from earlier in the week. Earlier in the session, gold had dropped by the most in over than three weeks. It failed to break resistance at its 200-day moving average, triggering early technical selling. An index of world stocks dipped on Friday as investors locked in profits, also boosting gold. Data showing the largest annual increase in U.S.
New Delhi [India], Apr 1 : Credit rating agency ICRA estimates the solar capacity addition to increase from 3.5-4 GW in FY2017 to at least 7-7.5 GW (in grid connected utility segment) in FY2018.
The magnitude of solar project awards, both under the National Solar Mission ( NSM) and the state policy route in the past 12-18 months has been quite significant, though currently there is a temporary lull in the announcement of fresh bids. The backlog against these awards itself would support the estimated solar capacity addition as per ICRA study.
Mumbai (Maharashtra) [India], Apr. 1 : The State Bank of India has merged its five Associate Banks - State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore besides Bharatiya Mahila Bank - with itself with effect from April 1.
With this six-way mega merger, the SBI has joined the league of top 50 banks globally in terms of assets.
The total customer base of the bank is now expected to reach 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country.
The merged entity will have a deposit base of more than Rs. 26 lakh crore and advances level of 18.50 lakh crore.
New Delhi [India], Apr. 1 : Multiplex chain PVR Cinemas launched its first multiplex in the capital city of Jharkhand- Ranchi. With this, PVR Cinemas has successfully established its presence in 50 cities across India.
The newly launched four-screen property is the largest and the most premium multiplex of the city, situated in the heart of Ranchi. Being elected to be developed as a smart city under the Government of India's ' Smart City Project'; Ranchi has witnessed tremendous development in the recent times. This surge of expansion has also opened opportunities resulting in a diverse population with evolved entertainment consumption patterns.
Washington D.C. [USA], Apr. 1 : A team of scientists has paved the way for ultrafast and reconfigurable on-chip wireless communication systems with unmatched advantages in compactness, low power consumption and low fabrication complexity.
Researchers from the University of Sydney made a breakthrough achieving radio frequency signal control at sub-nanosecond time scales on a chip-scale optical device.
Radio frequency (RF) is a particular range of electromagnetic wave frequencies, widely used for communications and radar signals. The work should impact the current wireless revolution.
New Delhi [India], Apr. 1 : Telecom operator Idea Cellular on Friday launched its 4G services in Assam circle, starting with five towns, namely Jorhat, Tezpur, Nagaon, Bongaigaon and Lumding, and is looking to further expand 4G network to cover 13 towns including Guwahati, by April 2017.
Idea also unveiled Digital Idea, a suite of digital applications for consumers in Assam. As part of the Digital Idea offerings, the company will offer a suite of three entertainment apps - Idea Music Lounge, Idea Movie Club and Idea Game Spark for its 13 lakh customers in Assam.
New Delhi [India], Mar 31 : Tata Motors on Friday announced the launch of JT Special Vehicles Pvt. Ltd., a 50:50 joint venture with Jayem Automotives Pvt. Ltd., for the development of special performance vehicles based on the latest series products.
As part of the agreement, both Tata Motors and Jayem Automotives will work towards performance enhancement and appearance of series vehicles to offer an exciting and innovative range of niche aspirational products for the passenger car customers.
Washington D.C. [USA], Mar. 31 : A new research has ruled out a challenge to the accepted standard model of the universe and theory of how galaxies form by shedding new light on a problematic structure.
The vast polar structure, a plane of satellite galaxies at the poles of the Milky Way, is at the center of a tug-of-war between scientists who disagree about the existence of mysterious dark matter, the invisible substance that, according to some scientists, comprises 85 percent of the mass of the universe.
The paper bolsters the standard cosmological model, or the Cold Dark Matter paradigm, by showing that the vast polar structure formed well after the Milky Way and is an unstable structure.
Washington D.C. [USA], Mar. 31 : Trees are considered as one of our biggest natural allies in the war against global warming, but in a new twist, scientists have found that the army of green is spewing out methane.
The University of Delaware study is one of the first in the world to show that tree trunks in upland forests actually emit methane rather than store it, representing a new, previously unaccounted source of this powerful greenhouse gas.
Methane is about 25 times stronger than carbon dioxide, with some estimates as high as 33 times stronger due to its effects when it is in the atmosphere.
New Delhi [India], Mar 31 : Global brand in personal peripheral devices for the digital world Genius on Friday announced its India launch of compact but powerful portable Bluetooth speakers at Rs.3050.
However, the product is also available on Amazon for an introductory offer price of Rs.1699 only.
With built-in microphone, the SP-906BT and the SP-906BT Plus feature superb clear audio, stunning loudness and extra heavy bass which is smaller and lighter than a baseball.
SP-906BT Series gives people on-the-go more than 10 hours of continuous playing, that's almost more than 200 songs, perfect for personal enjoyment, outdoor activities or hanging out with friends.
The exquisite audio and powerful bass of these products gives its users an amazingly clear and loud sound.
New Delhi [India], Mar 31 : The Software Alliance is sharing the BSA Encryption Principles - an analytical tool for examining related legislation and policy proposals.
With these principles, BSA aims to help lawmakers and other stakeholders find common ground in the encryption debate by addressing the needs and responsibilities of all sides.
"These principles offer a concrete step to help move the encryption discussion forward," said president and CEO of BSA, Victoria Espinel.
Washington D.C. [USA], Mar. 30 : A new study has suggested that the use of cannabis may impact treatment in women undergoing methadone treatment therapy.
Researchers from McMaster University and St. Joseph's Healthcare Hamilton have found that women in methadone treatment who use cannabis are 82 per cent more likely to continue using opioids. This means that women who use cannabis are at high risk of failing methadone treatment.
"About 60 per cent of men and 44 per cent of women who are undergoing methadone treatment therapy also use cannabis," said senior author Zena Samaan. "Tailoring treatment to the patient's sex can help us to assess the patient's risk better and deliver more accurate, personalized treatment."
New Delhi [India], Mar. 30 : Ericsson and the Indian Institute of Technology Delhi (IIT Delhi) have signed a memorandum of understanding to jointly roll out a '5G for India' program.
To this regard, Ericsson will set up a Center of Excellence with a 5G test bed and incubation center at IIT Delhi and use this facility to drive the development of the country's 5G ecosystem.
This program has been conceptualised to fast-track realisation of Digital India initiatives and aid application development for Indian start-ups and industries.
In addition to hosting the Center of Excellence, IIT Delhi will conduct research and development to explore how some of the country's challenges can be addressed with mobile technologies.