India business news

NEW DELHI (Reuters) - India on Sunday banned the export of anti-viral drug Remdesivir and its active pharmaceutical ingredients as demand rocketed due to a record surge in COVID-19 infections, leading to a crippling shortages in many parts. Authorities have blamed the ferocious resurgence of the virus mainly on crowding and a reluctance to wear masks. Still, religious gatherings have continued and Prime Minister Narendra Modi and Home Minister Amit Shah have themselves addressed election campaigns attended by tens of thousands of people, many without masks and hardly any following social distancing. As new COVID-19 cases surged to 152,879 on Sunday, the sixth record rise in seven days, harried relatives of patients made a kilometre-long queue to buy Remdesivir outside a big hospital in the western state of Gujarat, witnesses said. India, known as the pharmacy of the world, has already stalled major exports of coronavirus vaccines though its supply too has run short in some ... » Learn More about India bans Remdesivir exports as coronavirus rages on; rallies continue

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives may see volatile trading next week, ahead of the release of production, stocks and exports data. Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said markets will closely monitor the Malaysian Palm Oil Board's (MPOB) data, which is due on Monday. In addition, investors are also awaiting April 1-10 projections by cargo surveyors, which are likely to be released next week. "Focus will be on March production. However, prices are likely to be firmer but volatile," he told Bernama, today. Earlier this week, Sathia said global demand and export for palm oil products will see strong recovery from April to June 2021, mainly from India and China, which are severely understocked at the moment. He said China's stocks have been in deficit for many months with the latest data showing stocks being in deficit by 27 per cent. Meanwhile, palm oil trader David Ng expects CPO prices ... » Learn More about CPO futures to see volatile trading next week, eyes on MPOB data

Chief executive officer Datuk Dr Wan Zawawi Wan Ismail said the price forecast was based on uncertainties pertaining to the COVID-19 pandemic recovery, political situation and stimulus packages. "We forecast the average CPO price to be at RM3,846 per tonne for the first quarter and second quarter of 2021, ranging from a low of RM3,502 per tonne to a high of RM4,190 per tonne,” he said at the virtual Palm Oil Internet Seminar (POINTERS) 2021 today. He said palm oil exports are also expected to increase marginally from 17.39 million MT in 2020 to 17.5 million MT in 2021. "China, India, the European Union, ASEAN, Saudi Arabia, Africa, and the United States will be the major export destinations for Malaysia,” he pointed out. In March 2021, Wan Zawawi said the delivery price for CPO already exceeded RM4,100 per tonne despite the reinstatement of CPO export duties and the prices are expected to remain firm as concerns of supply limitations due to heavy rains in January and February ... » Learn More about MPOC: Moderate recovery seen for Malaysia’s palm oil exports in 2021

China has administered 164.47 million doses of COVID-19 vaccines as of Saturday, the National Health Commission said on Sunday. This represents around 24.5 million doses in the past six days, as the country's vaccine rollout continues to accelerate. Last week a Chinese official said the country is expected to produce around 3 billion doses of COVID-19 vaccines by the end of the year. Chinese health authorities on Sunday reported 10 new confirmed cases of COVID-19 and 22 asymptomatic cases, bringing the country's total to 90,410, while the death toll remained unchanged at 4,636. The National Health Commission, in a statement, said all the new cases were imported infections originating from overseas. The number of new asymptomatic cases, which China does not classify as confirmed cases, rose to 22 from 11 cases a day earlier. The total number of confirmed COVID-19 cases in Mainland China now stands at 90,410, while the death toll remained unchanged at 4,636. Meanwhile, in ... » Learn More about China administers 164.47 million COVID-19 vaccinations as of April 10

Filipinos are known to be naturally talented especially in art. That’s what this brand decided to highlight when they started the company 15 years ago with only 2 bold ideas to capitalize on: Fair Trade and Social Entrepreneurship. With Filipinos having a multitude of cultures and traditions, Gifts & Graces does not look beyond local talent and instead, focuses their energy into partnering with the local communities around the country to showcase the best of what Filipino craftsmen, designers and artists have to offer. The company was the brainchild of Sandy Prieto Romualdez, with the main purpose of bridging the gap between livelihood projects and market access by acting as the venue of expression and celebration of all things Filipino. As retail stores adjust to new realities, Gifts and Graces bravely pivoted amidst the crisis. Their mission is to unleash the potential of Filipinos through authentic and thoughtful designs that connect Filipino artisans with consumers, ... » Learn More about Gifts & Graces: Expanding the World of Filipino Local Artisans

Indian-owned Jaguar Land Rover is rushing through deliveries of small car parts to Britain from China, where supply chains are hit by the deadly coronavirus, the Financial Times said Wednesday. "We have flown parts in suitcases from China to the UK," said JLR chief executive Ralf Speth, quoted by the FT and other British media. Speth said Jaguar Land Rover's British plants were "safe for this week" and next, but that there was "a risk for overall production" thereafter, owing to further parts being delayed. Britain's biggest carmaker JLR, which is owned by Indian group Tata Motors, ordinarily transports the components by sea, which takes longer but is cheaper compared with transportation by air, the business daily added. Foreign firms from various sectors are facing disrupted supply chains in China because of the deadly virus. The death toll from the epidemic jumped past 2,000 on Wednesday after 136 more people died, with the number of new cases falling for a second ... » Learn More about Virus-hit Jaguar rushes car parts to UK in suitcases: Reports

SINGAPORE - Technology can be a catalyst for narrowing the gender gap, President Halimah Yacob said at the opening of the Women's Forum Singapore on Wednesday (Sept 12) at Raffles City Convention Centre. The three-day forum, part of an international platform which looks at major social and economic issues from a gender perspective, aims to foster women's leadership for social progress and economic impact across the world. President Halimah told those gathered for the opening that the disruptive economy could be viewed in a positive light. "We have, today, a world that is disrupted. Disruption has accelerated changes and challenges to the economy," said President Halimah, noting that a World Economic Forum study found that the automation of jobs was more likely to impact women negatively. But she said research has also shown that access to and, more importantly, the ability to understand and use technologies could have a positive impact on women's education and employment ... » Learn More about Technology can help narrow gender gap, President Halimah Yacob says at Women’s Forum Singapore

Employers must ensure that staff members work from home as far as possible, said the multi-ministry task force handling the coronavirus outbreak, as it turned its attention to securing workplaces. Manpower Minister Josephine Teo said her ministry is looking to increase potential penalties - including stop-work orders and fines - for firms which avoid implementing telecommuting. "Employers must allow your employees to work from home as far as reasonably practicable. This applies to all workplaces regardless of size, and it should be for all times, all days, and not some times, some days," she said at a virtual media conference - the first such briefing by the task force. The Manpower Ministry estimates that only 40 per cent of workers in the Central Business District currently work from home. The new measures on workplaces came as the task force noted the worrying trend of increasing local cases and stressed the importance of safe distancing to protect vulnerable groups like ... » Learn More about Coronavirus: Workers must work from home as far as possible, says MOM