Representative image Alcoa Corporation, the largest aluminium producer in the US, triggered concerns after failing to specify demand growth for the year and citing near-term uncertainties while reporting its second-quarter earnings. This may signal concerns for Indian aluminium manufacturers whose financials are sensitive to base metal prices. Alcoa said the 2022 market is expected to be in deficit and demand for aluminium is likely to be positive year on year. The company did not mention a growth rate for demand, which the street had expected because it typically announces it during the quarterly results. Alcoa said in a presentation to investors that uncertainties include the impacts of China’s stimulus programme, disruption in exports from Russia, near-term economic growth concerns, and the threat of further curtailment in production given high global energy prices. Alcoa’s net income increased 17.1 percent sequentially and 77.7 percent year-on-year to $549 million … [Read more...] about Alcoa cites near-term uncertainties, signalling caution for global peers
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India’s logistics sector takes to technology to adapt to evolving business environment
(Representative Image) India’s logistics efficiency has improved dramatically in recent years and technology-driven integrated solutions and structural reforms are set to transform a sector that is largely unorganised, with almost 80 percent of the industry run by small or medium-sized companies that rely on manual and conventional working methods. “Real-time order visibility, automated approvals, and digital billings are now not a privilege but a basic necessity for logistics professionals,” said Sanket Sheth, founder of Elixia Tech Solutions Ltd., a company that offers software solutions for logistics, supply chain management, and transportation. The government is also working on various policies and infrastructure developments to streamline the logistics process, including making drones more user friendly. “Now, the focus is on the development of the logistics sector on both the macro and micro levels, thus I personally expect a positive change in the dynamics of the … [Read more...] about India’s logistics sector takes to technology to adapt to evolving business environment
CPTPP enables wider sourcing channels for raw materials at competitive prices, says MPA
Malaysian Petrochemicals Association (MPA) President Akbar Md Thayoob (The Edge filepix by Shahrill Basri) - A + A KUALA LUMPUR (Aug 17): The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will enable wider sourcing channels for raw materials at competitive prices for the country’s petrochemical players, according to the Malaysian Petrochemicals Association (MPA). In a statement on Wednesday (Aug 17), its president Akbar Md Thayoob said this directly improves Malaysia’s competitiveness and attractiveness as an investment destination. He said the association is confident that Malaysian producers’ interests would be safeguarded extensively through the necessary provisions in the trade agreement to add advantages in protecting domestic interests. Hence, he said he believes that delaying the ratification of the CPTPP would expose risks of being relegated to the sidelines, as a few of the Asean neighbours have moved ahead strongly. He … [Read more...] about CPTPP enables wider sourcing channels for raw materials at competitive prices, says MPA
Meet The Tastemakers Curating The Best Of Luxury Fashion In Mykonos
Share to Twitter Share to Linkedin Known for its crystal clear waters and exclusive party scene, it’s apparent to all how Mykonos has transformed over the past decade into one of the top destinations in Europe. International luxury maisons like Gucci, Louis Vuitton, Bottega Veneta have all hurried to secure a presence here in various prime locations, not to mention the sprouting independent retailers in Mykonos Town each showcasing what the island has to offer. The best of Mykonos style is distinctively different from that of Ibiza or St Tropez — polished yet relaxed, chic yet not overdone, daring yet not distasteful. Second generation to the Liakotits family and carrying on the fashion business they grew up with, Spiros and Philipp Liakotits are the creative minds and tastemakers behind Mykonos’ best luxury outlets — the first Off-White mono-brand store in Europe; Loewe at Nammos Village; and the Liakotits brothers’ most treasured concept store: Simple … [Read more...] about Meet The Tastemakers Curating The Best Of Luxury Fashion In Mykonos
Oil prices turn more volatile as investors exit the market
An oil pump jack pumps oil in a field near Calgary, Alberta, Canada . REUTERS/Todd Korol/File photo By Stephanie Kelly and Noah Browning NEW YORK/LONDON – Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility. The exodus of participants, especially hedge funds and speculators, has made daily price swings far greater than in previous years, making it harder for companies to hedge against physical purchases of oil. The volatility has harmed companies that need energy market stability for their operations, which includes oil-and-gas companies, but also manufacturing and food-and-beverage industries. Brent crude futures are swinging sharply on a daily basis. Between Russia’s invasion of Ukraine on Feb. 24 through Aug. 15, the daily range between Brent’s session highs and lows averaged $5.64. For the same time … [Read more...] about Oil prices turn more volatile as investors exit the market
Buy Heranba Industries; target of Rs 1073: Arihant Capital
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Arihant Capital's research report on Heranba Industries Heranba Industries Ltd. is a crop protection chemical manufacturer, exporter and marketing company. The manufacturing facilities are located in Vapi and at Sarigam near Vapi. It is currently expanding its capacity at Sarigam and also possess additional land bank at Saykha, Dahej for future capacity expansion. The company announced its Q1FY23 results, where-in the top-line and bottomline were below estimates. The company faced challenges on the cost front with raw material cost inflation. Also, the lock-down in China hurt its major export market and negatively affected the growth in revenues. Due to pressure on both the company operations and cost front, it generated negative cash flow from operations in Q1FY23, although the quantum was … [Read more...] about Buy Heranba Industries; target of Rs 1073: Arihant Capital