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February 04: The lensman`s view

  • February 04: The lensman`s view

    February 04: The lensman`s view

  • <p><b>Indian Prime Minister Manmohan Singh speaks during a joint news in New Delhi</b> </p><p> Prime Minster Manmohan Singh said on Friday that high headline inflation is beginning to pose a serious threat to India&#39;s high growth plans, in one of his strongest warnings over the risk of rising prices. </p><p> Singh added that farm supply chains needed to be boosted with organised retail chains, a statement seen pushing for the entry of modern supermarkets despite strong political opposition for foreign-owned multibrand retail from within his Congress party. </p>

    Indian Prime Minister Manmohan Singh speaks during a joint news in New Delhi

    Prime Minster Manmohan Singh said on Friday that high headline inflation is beginning to pose a serious threat to India's high growth plans, in one of his strongest warnings over the risk of rising prices.

    Singh added that farm supply chains needed to be boosted with organised retail chains, a statement seen pushing for the entry of modern supermarkets despite strong political opposition for foreign-owned multibrand retail from within his Congress party.

  • <p><b>A worker uses a mobile phone at Nippon Steel&#39;s collection facility in Tokyo</b> </p><p> The mega merger between Japan&#39;s Nippon Steel and Sumitomo Metal Industries may improve competitiveness against lower-cost rivals, but might do little or nothing in cutting soaring raw material costs. </p><p> A move by producers to use contract pricing closer to spot prices for iron ore and coking coal, the key ingredients in producing steel, has weakened any bargaining power buyers had with the annual price-fixing regime in previous years. </p>

    A worker uses a mobile phone at Nippon Steel's collection facility in Tokyo

    The mega merger between Japan's Nippon Steel and Sumitomo Metal Industries may improve competitiveness against lower-cost rivals, but might do little or nothing in cutting soaring raw material costs.

    A move by producers to use contract pricing closer to spot prices for iron ore and coking coal, the key ingredients in producing steel, has weakened any bargaining power buyers had with the annual price-fixing regime in previous years.

  • <p><b>A salesman displays gold chains at a jewellery showroom in Hyderabad</b> </p><p> India gold futures were almost steady near its highest level in over a week on Friday afternoon, following overseas leads, but traders were unwilling to place new positions after the sudden price jump, dealers said. </p><p> "It suddenly went up yesterday, to the last week&#39;s level. Prices took a big jump after a long time," said a dealer with a state-run bullion importing bank in Mumbai. </p><p> At 1:58 pm, the most-active gold contract for April delivery was trading 0.41% lower at Rs 20,260 per 10 grams. The contract had struck its one-week high of Rs 20,360 in the previous session, a level last seen on Jan 24. </p>

    A salesman displays gold chains at a jewellery showroom in Hyderabad

    India gold futures were almost steady near its highest level in over a week on Friday afternoon, following overseas leads, but traders were unwilling to place new positions after the sudden price jump, dealers said.

    "It suddenly went up yesterday, to the last week's level. Prices took a big jump after a long time," said a dealer with a state-run bullion importing bank in Mumbai.

    At 1:58 pm, the most-active gold contract for April delivery was trading 0.41% lower at Rs 20,260 per 10 grams. The contract had struck its one-week high of Rs 20,360 in the previous session, a level last seen on Jan 24.

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