Record Liquefied Natural Gas Prices in Asia Won’t Last

It’s been a wild year for commodity markets, marked by despair last spring as the world ground to a halt and followed more recently by exuberance. Nowhere has the bullish feeling been more evident than the usually staid market for liquefied natural gas: February futures for Asian gas hit nearly $20 per million British thermal units last week according to data from Refinitiv. As recently as mid-December, they were only trading around $8 per MMBtu. Unfortunately for gas producers, today’s prices aren’t sustainable and the longer-term supply picture is bearish. Supply stoppages combined with the coldest winter in Asia in decades […]

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Export recovery: Rivals Vietnam, China far outpace India

Similarly, India’s exports to the EU (excluding the UK) witnessed a steep 17.2% decline to 30.6 billion euros in the January-November period, showed the official data with the EU. As India’s merchandise exports limp back to normalcy, two of its key rivals in global markets have surged ahead with greater vigour, beating the Covid-19 blues. While China has pipped India in scripting a resurgence in exports to the US and the EU (excluding the UK), New Delhi’s largest shipment destinations that account for a third of its overseas despatches, Vietnam outpaced even China in the recovery. This suggests India’s export contraction […]

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WSJ News Exclusive | Yellen Prepared to Affirm Commitment to Market-Determined Dollar Value

WASHINGTON—Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she will make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, according to Biden transition officials familiar with her hearing preparation. The remarks would represent a return to the U.S.’s hands-off approach to the dollar, which President Trump had deviated from by often publicly calling for a lower dollar. Ms. Yellen, the former Federal Reserve chairwoman, is set to appear before the Senate Finance Committee Tuesday as it considers her nomination to be the next U.S. Treasury […]

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Big jump in CPSE capex, Q3 matches H1

Three dozen CPSEs, with capex plan of at least Rs 500 crore, invested Rs 2.9 lakh crore or about 60% of their annual capex target of Rs 4.95 lakh crore in April-December of FY21. Large central public-sector entities – companies and undertakings – achieved about 30% of their capital expenditure target for FY21 in the third quarter of the financial year, by spending Rs 1.4 lakh crore, almost matching their investments in the first two quarters, according to official sources. The jump in CPSE capex comes after constant prodding by the finance minister Nirmala Sitharaman. State governments have slowed down investments […]

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After Stock Surge, Investors Ask Companies What’s Ahead

An epic stock rally faces a key test in coming weeks as investors learn what executives expect for profits and revenues in coming periods. Fourth-quarter earnings season kicked off in earnest Friday with better-than-expected profits from some of the nation’s largest banks. Despite a record quarterly profit at JPMorgan Chase & Co. and some bright spots at Citigroup Inc. and Wells Fargo & Co., shares of all three declined, with Wells and Citi each dropping more than 6%. The market reaction highlights the stakes as large firms begin sharing quarterly results and, more important, their outlooks for coming quarters. Though results […]

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