Covid ‘infects’ shipment of leather exporters
May 20, 2021
Work has restarted in a limited way as per Tamil Nadu Government mandated restrictions in a leather footwear MSME export unit in Guindy Industrial Estate, Chennai. Photo : Bijoy Ghosh - Businessline
Work has restarted in a limited way as per Tamil Nadu Government mandated restrictions in a leather footwear MSME export unit in Guindy Industrial Estate, Chennai. Photo : Bijoy Ghosh - Businessline×
Skeletal staff and shortage of sea containers is a concern despite exporters having enough orders
Leather exporters have enough orders on hand, but skeletal staff strength and shortage of sea containers is threatening to delay the shipment to global customers. Every year, April to June is the peak running time for leather units and export shipment starts from June 15. However, leather units are worried that this will get delayed this year.
Thursday, 5/20/2021 14:36
GOLD TRADING in London s wholesale bullion market saw prices stay above $1870 per ounce on Thursday, holding a gain of 1.7% for the week so far as world stock markets, commodities and cryptocurrencies rallied from yesterday s steep losses. Major government bond prices also clipped their losses, edging longer-term interest rates back down after the release of notes from the Federal Reserve s April meeting showed policymakers agreeing that the jobless rate is elevated and inflation expectations remain well anchored , meaning there is no need to begin signalling any rise in interest rates or slowdown of QE asset purchases at present. Gold is clearly benefiting from a wave of re-balancing, says the precious metals team at French bank and London bullion market maker BNP Paribas, out of alternative assets and into the safer bounds of a traditional yet well understood asset
U.S. delays trading ban on Chinese-military linked securities
Reuters | May 18, 2021 09:02 PM EDT
U.S. President Joe Biden delivers remarks on the April jobs report from the East Room of the White House in Washington, U.S. (Photo : REUTERS/Jonathan Ernst)
The Biden administration on Tuesday gave investors two extra weeks to buy or sell securities in certain companies it deems are tied to the Chinese military, an extension it said was needed to craft a stronger policy to prohibit such trades.
President Joe Biden s administration has been reviewing a number of aspects of U.S.-China policy, including a ban imposed under his predecessor Donald Trump on investments in certain Chinese companies that the United States says are linked to China s armed forces and intelligence agencies.
Bitcoin falls 7% after China reportedly bans banks from cryptocurrency business
Matthew FoxMay 19, 2021, 01:02 IST
Cesc Maymo/Getty Images
Bitcoin s recovery from Monday s sell-off lost steam on Tuesday after Reuters reported that China banned financial companies from the cryptocurrency business.
A statement from China regulators said virtual currencies are not supported by real value, the report said.
China has not restricted individuals from holding
cryptocurrencies, but did warn about their speculative nature.
Bitcoin fell as much as 7% from its intraday high on Tuesday after a Reuters report said China is banning financial institutions and payment companies from the cryptocurrency business.
Three Chinese industry bodies released a statement warning investors about the speculative and volatile nature of cryptocurrencies, adding that they are not supported by real value, according to the report.
Marketline Report for Wednesday, May 19th
Wednesday May 19th, 2021 This is Bob Larson with the Market Line Report for Wednesday, May 19th. Corn planting reaches near record levels, but still off slightly. From the floor of the CME in Chicago, here’s Scott Shellady.
SHELLADY … “First of all, let’s get the planting numbers out of the way. Corn planting are 80% complete. I mean, we were looking for around 84%, but still that’s close to a record pace. I think emergence may be a concern in many areas in the south and eastern Corn Belt but the wetness is now starting to creep in a little bit and I think maybe that could of maybe stemmed the tide a little bit today, no pun intended. I mean, we were up about a percent today, six and a bit, pennies. Just keep in mind that we’re off to a record, close to a record start but I think that right now we also do have some wetness concerns.”