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PTI Taking comfort from firm global developments and increased buying by jewellers at the domestic market, gold rose for the second straight day by surging Rs 220 to Rs 31,250 per 10 grams today. Silver bounced by Rs 470 to Rs 47,820 per kg backed by increased demand from coin makers and other consuming industries. Marketmen said that besides a firming trend overseas, more buying activity by jewellers to meet retailer demand at domestic spot markets mainly kept the precious metals higher. Globally, gold rose 0.11 per cent to USD 1,364.30 an ounce and silver by 0.07 per cent to USD 20.58 an ounce in Singapore today. In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged Rs 220 each to ...

The Dollar Business Bureau India’s biggest container port, Jawaharlal Nehru Port (JNPT), is going to invest Rs.150 crore for installing three mobile scanners in order cut the operating time. Currently, the port has just two scanners and therefore it takes up to two days for containers to clear through due to the long queues, said officials of the port on Friday. “In the next 6 months, we will be installing three more container scanners at a cost of Rs.150 crore in order to ease the operations,” Anil Diggikar, Chairman, JNPT, told the journalists in Mumbai. Diggikar said the decision to install additional scanners at the port is being taken as part of the 'ease of doing business' initiative in order to make it ...

The Dollar Business Bureau  Asia Pacific’s share of global exports is also projected to increase from about a third in 2015 to 46% in 2050   India has the potential to outpace China in terms of merchandise exports in 2025-50, said a report by HSBC Financial Services. “We expect growth in merchandise exports from India to average 6% a year in 2025–50, compared with just under 5% a year for China,” said HSBC in its report. The report, titled ‘The Trade Winds: shaping the future of international business’ indicates that during 2025-50, India as well as China and other developing countries will seek to maintain their growth as they will move towards the production of higher-value products and away from an over-reliance ...

Source: PTI Indian manufacturers and exporters should diversify more and become part of regional multi-lateral trade pacts to boost shipments of their products globally, India's top envoy in Singapore has said. “It is for the business community of India and Singapore to identify more opportunities and further increase trade flows,” India's High Commissioner Vijay Thakur Singh told some 200 delegates at the 'India-Singapore Trade: Challenges and Opportunities' business forum. Underlining the wide range of initiatives and thrust of India's foreign trade policy, Singh called on the manufacturers and exporters to diversify and be part of the regional multi-lateral trade pacts to boost shipments of their products globally. Singh also reiterated the government's target of further increasing shipments of merchandise and services as ...

The Dollar Business Bureau | @TheDollarBiz Source - WTO secretariat   The World Trade Organisation (WTO) has lowered its forecast for global trade growth in 2014 to 3.1%, down from 4.7% estimated in April this year. WTO says that the downward revision is mainly due to sub-par trade growth in the first half of 2014. WTO economists have also lowered their estimate for trade growth in 2015 to 4% (down from 5.3% estimated in April) in anticipation of continued geopolitical tensions and uneven growth in the coming months. WTO Director-General Roberto Azevêdo said, “International institutions have significantly revised their GDP forecasts after disappointing economic growth in the first half of the year. In light of this, the WTO’s forecasts for trade ...