Day: September 6, 2020

Saudis Reduce Oil Pricing in Sign Demand Recovery Struggling

(Bloomberg) —

Saudi Arabia cut pricing for oil sales in October, a sign the world’s biggest exporter sees fuel demand wavering amid more coronavirus flare-ups around the globe.

The kingdom’s state producer, Saudi Aramco, reduced its key Arab Light grade of crude by a larger-than-expected amount for shipments to Asia, its main market. It also lowered pricing for U.S. buyers.

Aramco cut Arab Light to Asia to a discount against the benchmark oil price used by the Saudis for the first time since June. It’s the second consecutive month of reductions for barrels to the region and the first month

One Product One District: Govt’s new programme to take the ‘special’ product of every district globally

The minister said that the Commerce and Industry Ministry is rapidly working with all the states on the programme.

The government will soon launch a ‘One Product One District’ programme for every district in the country to expand the outreach of their ‘special’ product not just in India but across the world, according to the Commerce Minister Piyush Goyal. “We will soon be unveiling a programme wherein every district is a country focusing all its energies to expand the outreach of their special product not only to the length and breadth of India but to the entire world,” Goyal said

Atmanirbhar Bharat: Govt expands programme for agarbatti units; to benefit around 6,500 artisans now

The government will develop two Centers of Excellence (CoE) costing Rs 2.20 crore.

Ease of Doing Business for MSMEs: Over a month after the Modi government approved a programme to benefit artisans in agarbatti manufacturing under ‘Gramodyog Vikas Yojana’, its size and target number of beneficiaries have been enhanced. As per the new guidelines of the programme, its overall size has been increased from Rs 2.66 crore to Rs 55 crore and would likely benefit 6,500 artisans from around 500 artisans envisaged earlier. The Khadi and Village Industries Commission (KVIC) under the MSME Ministry will implement the programme and handhold