China’s one-year loan prime rate (LPR) was kept unchanged from the previous month at 3.1 per cent today.
The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 per cent, according to the National Interbank Funding Centre.
The lower lending rate is likely to help relieve the financing burden on enterprises and individuals.Read More
Elkem and Hafslund signed a long-term power deal for 2028-2035, securing 400 GWh annually in Norway’s NO3 price area.
This supports Elkem’s Thamshavn plant operations and investments, which produce silicon and microsilica for green value chains.
Powered by renewable hydropower, the agreement highlights Norway’s potential for low-carbon industrial production.Read More
… opening of the South India Textile Research Association’s (SITRA) … high-value man-made textiles and technical textiles. The small and … medium-sized textile producers in each cluster … value-added and distinctive textiles and apparel items in …Read More
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… Odisha Vigilance sleuths arrested two Textile Inspectors, Krushna Chandra Sahu and … office of Assistant Director of Textile in Boudh district, for demanding …Read More
As the energy transition progresses, demand for petrochemicals is expected to drive oil demand growth.
ADNOC’s acquisition of German company Covestro reflects a strategic focus on petrochemicals, gas, renewables, and low-carbon fuels.
Petrochemicals remain essential in various sectors, making oil companies’ investments in this area a hedge against declining road transport oil use.Read More
Net sales of Upland cotton in the US for the 2024-25 season reached 194,900 running bales, up 27 per cent week-on-week but down 19 per cent from the four-week average.
Major increases were noted in sales to Vietnam, Pakistan, and Turkiye, offset by reductions to Hong Kong.
Exports decreased, while Pima cotton sales hit a seasonal low, with significant exports to India and other countries.Read More
BASF has opened a new Catalyst Development and Solids Processing centre in Ludwigshafen.
The centre is set to accelerate innovation in catalyst technologies, crucial for various chemical processes.
This investment underscores BASF’s commitment to advancing chemical manufacturing capabilities.
BASF’s investment reflects its commitment to staying at the forefront of catalyst technology innovation.Read More
BCNonwovens has acquired Atex USA from EOS Investment Management, gaining a strategic entry into North American markets.
BCNonwovens’ leaders emphasised growth opportunities and a shared focus on excellence, while Atex USA expressed pride in past achievements and enthusiasm for the partnership.
BCNonwovens, based in Barcelona, specialises in spunlace nonwovens for FMCG, medical, and specialty markets.Read More
Birkenstock has reported FY24 revenue of €1.8 billion (~$1.89 billion), up 21 per cent YoY, with strong growth across regions and segments.
Gross margin was 58.8 per cent, net profit rose 155 per cent to €192 million, and adjusted EBITDA grew 15 per cent to €555 million.
For FY25, it projects 15-17 per cent revenue growth, improved margins, €80 million in CAPEX.Read More