Logistics leasing defy slowdown theory

The economic pundits may be projecting the spectre of a serious slowdown spell in the near run (particularly exhibited by the consistent dip in automobile sales since the beginning of the year) but CBRE South Asia’s ‘India Industrial and Logistics Market View, H1 2019’ report has broadly underlined business as usual scenario in the logistics leasing space.  As per the report, logistics leasing in the country recorded a hefty 31% annual growth crossing 13 million sq. ft. Leading metros like Mumbai, Chennai and Bangalore accounted for more than 60% of leasing activity and…

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Global air cargo declines for 8th consecutive month

With US-China trade dispute a major contributing factor, the demand in the global air freight market has consistently declined for past eight months. According to the International Air Transport Association (IATA) data for June, demand measured in freight tonne kilometers (FTKs), decreased by 4.8% in June 2019 as against the corresponding month last year. “Signs of a modest recovery in recent months appear to have been premature, with the June contraction broad-based across all regions with the exception of Africa. Capacity growth remains subdued and the cargo load factor continues…

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Minor exports growth in April-July period

Despite tough market conditions, India’s overall exports (Merchandise and Services combined) during April-July rose to $181.47billion, exhibiting a positive growth of 3.13per cent over the same period last year. Exports in July 2019 were $26.3billion, as compared to $25.75billion in July 2018, exhibiting a positive growth of 2.25per cent. Responding to marginal rebound in July, 2019 merchandise exports data, exporters association FIEO’s President, Sharad Kumar Saraf said that growth in exports shows resilience of the Indian exporting community even during such tough times and sluggishness in the global economy. He,…

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International Solar Alliance kickstarts cold chain initiative

India-headquartered International Solar Alliance (ISA) has launched a new initiative meant to promote cold chain facilities and systems in member countries with the use of solar power, Ritwik Sinha reports.   The ISA Solar Cooling Initiative (I-SCI), unveiled early this week in New Delhi, would primarily deal with setting up of cool community hubs at strategic locations in India and other member countries. Such hubs would be multi-functional units including providing support to local farmers in storage and sortation of their perishable produce, acting as vital cog in the farm-to-fork value chain.…

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EICI expresses reservations with draft logistics policy

Express Industry Council of India (EICI), an industry body comprising leading express logistics companies in the country, has expressed reservations with the recommendations of the draft national logistics policy unveiled earlier. The industry body is of the view that the interests particularly of the domestic air cargo industry have not been adequately addressed in the draft policy.   “We laud the efforts in preparing the draft policy covering a broad spectrum of focus areas to drive the growth of Indian logistics sector. However, we note that the policy document does…

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Never-ending trade war sinks commodities into a world of trouble

The U.S.-China trade war is sparking so much fear over demand that even those parts of the commodity world that aren’t in the direct firing line are getting burned, says a report by Bloomberg. Oil had its biggest sell-off in four years after U.S. President Donald Trump brought an abrupt end to a truce forged with Chinese counterpart Xi Jinping in June 2019. That is after Beijing has spared crude from levies. Meanwhile, crop markets, industrial metals and shares of agricultural traders have all got walloped over the months. The…

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HDFC, Mastercard to support ‘Digi Vyapari’ initiative

HDFC Bank , Mastercard & Common Service Centres of Ministry of Electronics have come together to partner with traders body CAIT to accelerate digital payment adoption through 5 Lakh Common Service Centers amongst 70 Million traders in India. This first-of-its kind grassroots initiative named as ” Digi Vyapari-Safal Vyapari is expected to transform the rural and urban economy and benefit small merchants and traders even in the remotest places. CAIT Secretary General Praveen Khandelwal informed that the association will make live showroom of traders on e commerce portal which will…

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DP WORLD REPORTS MINOR VOLUME GROWTH IN Q2 2019

DP World has reported handling 35.8 million TEU (Twenty-Foot Equivalent Units) across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5% year-on-year on a reported basis and 0.5% on a like-for-like basis.   Strong performance across Asia Pacific, Indian Subcontinent and Africa drove growth in 2Q2019, but weaker volumes in the UAE and Australia offset this trend.   Consolidated volumes in 2Q2019 grew by 10.6% on a reported basis but down 0.6% on a like-for-like basis. The strong reported growth…

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Weak outlook for gold demand in coming quarters

India’s gold demand in the April-June 2019 quarter saw an increase of 14 per cent on a year-on-year basis, but it might remain muted in the next two quarters. Among the reasons for a weak outlook are high domestic prices. The rates, already high in international markets, will increase further in India on account of the 2.5 per cent import duty increase announced in Union Budget 2019 earlier this month. This report was published by GFMS, a Reuters initiative. According to GFMS Gold Survey: H1 2019 Review and Outlook, published by the Refinitive today,…

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Sugar buffer stock creation a positive for industry, farmers: ICRA

The Government’s decision to create a sugar buffer stock of four million tonnes for a year would not only help industry financially, but also improve the demand-supply situation in the domestic market, said rating agency ICRA in a statement. “According to our estimates, the closing sugar stocks for sugar year 2018-19 (October 2018-September 2019) would be high at around 14.5 million tonnes. The direct impact of this move by way of compensating mills for the carrying cost alone would translate into a higher profit before tax margin by about 1.5-1.8…

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