Dollar gains on housing data, soft sentiment report weighs

Investing.com - Investing.com - The dollar traded largely higher against most major currencies on Friday after data revealed a growing U.S. housing sector, though soft consumer sentiment numbers capped the greenback's advance.

In U.S. trading on Friday, EUR/USD was down 0.10% at 1.3698.

The Census Bureau reported earlier that U.S. building permits rose 8% to 1.080 million units last month, up from an upwardly revised 1.000 million in March. Analysts were expecting building permits to rise to 1.010 million units in April, and the better-than-expected figure gave the greenback support.

The report also showed that housing starts rose to 1.072 million units in April, from 947,000 in March, whose figure was revised up from a previously estimated 946,000. Analysts had expected building starts to rise to 980,000 units last month.

Soft consumer sentiment data watered down the greenback.

The preliminary Thomson Reuters/University of Michigan consumer sentiment index fell to 81.8 in May from 84.1 in April, confounding market expectations for a 84.5 reading, which softened the dollar.

Meanwhile, the single currency continued to come under pressure after data released on Thursday revealed that the euro zone's gross domestic product grew just 0.2% in the first quarter, missing expectations for a 0.4% growth rate. On a year-over-year basis the bloc's economy expanded 0.9%, falling short of expectations for growth of 1.1%.

A separate report showed that the bloc's annual rate of inflation was unchanged at 0.7% in April, in line with forecasts, but still well below the ECB's target of close to but just under 2%.

Elsewhere, investors continued to track developments in Ukraine, as U.S. Secretary of State John Kerry warned Russia it faced broader economic and sector-related sanctions if it meddled in Ukraine's presidential elections on May 25.

The dollar was down against the yen, with USD/JPY down 0.07% at 101.50 and up against the Swiss franc, with USD/CHF up 0.10% at 0.8918.

The greenback was down against the pound, with GBP/USD up 0.18% at 1.6820.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.16% at 1.0866, AUD/USD up 0.10% at 0.9365 and NZD/USD down 0.12% at 0.8634.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.02% at 80.11.

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U.S. stocks gain on data, tech demand; Dow rises 0.27%

Investing.com - Investing.com - U.S. stocks finished Friday's session in positive territory buoyed by upbeat housing data and demand for tech shares among bottom fishers.

At the close of U.S. trading, the Dow 30 rose 0.27%, the S&P 500 index rose 0.37%, while the NASDAQ Composite index rose 0.52%.

The Census Bureau reported earlier that U.S. building permits rose 8% to 1.080 million units last month, up from an upwardly revised 1.000 million in March. Analysts were expecting building permits to rise to 1.010 million units in April, and the better-than-expected figure gave the greenback support.

The report also showed that housing starts rose to 1.072 million units in April, from 947,000 in March, whose figure was revised up from a previously estimated 946,000. Analysts had expected building starts to rise to 980,000 units last month.

Soft consumer sentiment data watered down gains earlier, though late-session buying brought all major indices into positive territory at the closing bell.

The preliminary Thomson Reuters/University of Michigan consumer sentiment index fell to 81.8 in May from 84.1 in April, confounding market expectations for a 84.5 reading.

Elsewhere, bargain hunters snapped up technology and small-cap equities, the beneficiaries of exceptionally loose monetary policies since the 2008 downtown.

The Federal Reserve is expected to wind up its monthly bond-buying program later this year.

Fed asset purchases boost stock prices by suppressing long-term interest rates, and expectations for the Fed to wind down the program this year have bruised tech, biotech and small-cap stocks in recent sessions.

Leading Dow Jones Industrial Average performers included Verizon Communications Inc (NYSE:VZ), up 2.32%, Home Depot Inc (NYSE:HD), up 1.48%, and Nike Inc (NYSE:NKE), which was down 1.38%.

The Dow Jones Industrial Average's worst performers included United Technologies Corporation (NYSE:UTX), down 0.96%, Intel Corporation (NASDAQ:INTC), down 0.71%, and Chevron Corporation (NYSE:CVX), down 0.49%.

European indices, meanwhile, largely higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 0.18%, France's CAC 40 rose 0.26%, while Germany's DAX fell 0.28%. Meanwhile, in the U.K. the FTSE 100 rose 0.22%.

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RBI Central Board meets today at Shimla

The Central Board of Directors of the Reserve Bank of India met today at Shimla. The last Board meeting in Shimla was held in 2007. Dr. Raghuram Rajan, Governor, Reserve Bank of India chaired the meeting. Directors, Dr. Anil Kakodkar, Shri Kiran Karnik, Dr. Nachiket Mor, Shri Y.H. Malegam, Prof. Dipankar Gupta, Shri G. M. Rao, Dr. Indira Rajaraman and Prof. Damodar Acharya attended the meeting. Government nominee director on the Central Board Shri G. S. Sandhu, Secretary, Department of Financial Services also attended the meeting. Deputy Governors Dr. Urjit R. Patel and Shri R. Gandhi were also present.

The Board reviewed the functioning of the Reserve Bank as well as the current economic situation and global and domestic challenges and policy responses.

The Governor later met the Chief Minister of Himachal Pradesh Shri Virbhadra Singh and the State Level Bankers Committee and discussed issues of mutual interest with them. Dr. Rajan appreciated the developmental efforts of the state and said that Himachal Pradesh with approximately 3900 persons per branch had a better access ratio than most states. There were, however, issues in reaching remote and difficult areas where banking services had still not reached. The availability of technology solutions, especially mobile technology and more effective use of banking correspondents would help further financial inclusion, the Governor stated.

The Governor also interacted with students and faculty of Himachal Pradesh University.

Alpana Killawala
Principal Chief General Manager

Press Release : 2013-2014/2219

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Natural gas shoots up on bullish supply numbers

Investing.com - Investing.com - Natural gas prices shot up on Thursday after data revealed inventories rose more than expected though still small enough to allay supply concerns.

On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.456 per million British thermal units during U.S. trading, up 2.03%. The commodity hit session high of $4.508 and a low of $4.327.

The June contract settled up 0.21% on Wednesday to end at $4.367 per million British thermal units.

Natural gas futures were likely to find support at $4.222 per million British thermal units, the low from April 2, and resistance at $4.825, last Wednesday's high.

In a report, Energy Information Administration said that U.S. Natural Gas Storage rose by 105 billion cubic feet in the week ending May 9, up from 74 billion cubic feet in the preceding month.

Analysts had expected U.S. Natural Gas Storage to rise 99 billion cubic feet last week.

Prices rose on the news, as analysts viewed the build as small.

U.S. stockpiles need to fill by November at the start of the heating season, which means quantities going into to storage must rise, as the possibilities of a winter storage still remain.

Stockpiles are 40% below their level this time last year and 45% below the five-year average.

Producers would need to add 2.6 trillion to 2.9 trillion cubic feet to storage by November 1 to meet typical winter demand.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in June were down 0.85% at $101.50 a barrel, while heating oil for June delivery were down 0.48% at $2.9482 per gallon.

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Vaibhav Global: Outcome of board meeting

Vaibhav Global has informed regarding outcome of Board Meeting held on May 14, 2014.

To read the full report click here

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U.S. stocks dip ahead of inflation, output data; Dow falls 0.61%

Investing.com - Investing.com - U.S. stocks fell on Wednesday as markets continued to sell technology and small-cap stocks on sentiment that monetary stimulus tools are on their way out, while investors jumped to the sidelines to await fresh data on hopes the numberw will indicate if the effects of a rough winter are over.

At the close of U.S. trading, the Dow 30 fell 0.61%, the S&P 500 index fell 0.47%, while the NASDAQ Composite index fell 0.72%.

On Thursday, the U.S. is to release data on initial jobless claims, consumer inflation, industrial production as well as a report on manufacturing activity in the Philadelphia region.

Investors hope the flurry of numbers will shed light on whether a more robut albeit a still stop-and-go recovery is due to a rough winter or true slowdown in demand.

Uncertainty ahead of time kept many on the sidelines despite upbeat wholesale pricing data.

The Commerce Department reported earlier that producer prices increased by 0.6% last month, beating forecasts for a 0.2% gain, after rising 0.5% in March.

Year-over-year, the producer price index rose 2.1% in April, beating expectations for a 1.7% increase and up from 1.4% in the preceding month.

The core producer price index advanced 0.5% last month, compared to expectations for a 0.2% increase, after rising 0.6% in March.

Core produces prices rose at an annualized rate of 1.9% in April, beating forecasts for a 1.4% gain and after climbing 1.4% in the preceding month.

The Federal Reserve views core prices as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.

Elsewhere, investors continued to sell technology and small-cap equities, the beneficiaries of exceptionally loose monetary policies since the 2008 downtown.

The Federal Reserve is expected to wind up its monthly bond-buying program later this year.

Fed asset purchases boost stock prices by suppressing long-term interest rates, and investors sold stocks deemed frothy due to monetary support.

Leading Dow Jones Industrial Average performers included Merck & Company Inc (NYSE:MRK), up 1.10%, AT&T Inc (NYSE:T), up 0.54%, and Chevron Corporation (NYSE:CVX), up 0.45%.

The Dow Jones Industrial Average's worst performers included International Business Machines (NYSE:IBM), down 1.83%, Walt Disney Company (NYSE:DIS), down 1.41%, and Nike Inc (NYSE:NKE), down 1.40%.

European indices, meanwhile, largely lower.

After the close of European trade, the DJ Euro Stoxx 50 fell 0.06%, France's CAC 40 fell 0.09%, while Germany's DAX fell 0.03%. Meanwhile, in the U.K. the FTSE 100 rose 0.08%.

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Dollar gains as Germany voices support for ECB move

Investing.com - Investing.com - The dollar traded higher against most major currencies on Tuesday on news Germany's central bank would support a European Central Bank decision to implement fresh stimulus tools should the European economy merit such action.

In U.S. trading on Tuesday, EUR/USD was down 0.43% at 1.3698.

The Wall Street Journal reported the Germany's central bank would back monetary easing measures, including a negative rate on bank deposits and purchases of packaged bank loans, if such tools were needed to keep persistently low levels of inflation from becoming entrenched in the euro zone.

Last week, ECB President Mario Draghi said monetary authorities were 'comfortable' with acting at its next meeting in June after reviewing the latest economic projections, and the euro fell on sentiments that European monetary policy is set to loosen, which bolstered the dollar's safe-haven appeal.

The single currency also came under pressure after data showed that German economic sentiment slumped to a 16-month low in May.

The ZEW Centre for Economic Research reported that its index of German economic sentiment dropped to 33.1 this month from 43.2 in April. Analysts had expected a reading of 41.0.

The current conditions index improved to 62.1 from 59.5 in April, ahead of expectations of 60.5.

Meanwhile in the U.S., investors shrugged off soft retail sales numbers, betting that data will disappoint from time to time but longer-term trends point to a more sustained U.S. recovery.

The Commerce Department reported earlier that U.S. retail sales rose just 0.1% in April, missing expectations for a 0.4% increase. Retail sales for March were revised up to a 1.5% gain from a previously reported increase of 1.2%.

Core retail sales, which exclude automobile sales, were flat in April, disappointing forecasts for a 0.6% increase. Core sales in March were revised up to a rise of 1% from a previously reported increase of 0.7%

The dollar was up against the yen, with USD/JPY up 0.16% at 102.29 and up against the Swiss franc, with USD/CHF up 0.30% at 0.8904.

The greenback was up against the pound, with GBP/USD down 0.26% at 1.6824.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.12% at 1.0908, AUD/USD down 0.07% at 0.9355 and NZD/USD up 0.14% at 0.8632, as data released earlier revealed that industrial production and retail sales in China slowed in April.

TheUS Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.32% at 80.21.

On Wednesday, the U.S. is to release data on producer price inflation.

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U.S. stocks end mixed on sluggish retail sales; Dow rises 0.12%

Investing.com - Investing.com - Lackluster U.S. retail sales data sent Wall Street closing mixed on Tuesday, through revisions to March's sales figures brought in the buyers and offset losses somewhat.

At the close of U.S. trading, the Dow 30 rose 0.12%, the S&P 500 index rose 0.04%, while the NASDAQ Composite index fell 0.33%.

The Commerce Department reported earlier that U.S. retail sales rose 0.1% in April, missing expectations for a 0.4% increase. Core retail sales, which exclude automobile sales, were flat in April, disappointing forecasts for a 0.6% increase.

Consumer spending drives about three-fourths of the U.S. economy, and Tuesday's retail sales report dampened stock prices, though revised March data gave investors reason to cheer.

Retail sales for March were revised up to a 1.5% gain from a previously reported increase of 1.2%, while core sales were revised up to a rise of 1% from a previously reported increase of 0.7%

Upon digesting the data, investors determined that economic indicators will continue to disappoint from time to time but overall, the U.S. economy continues to recover and will strengthen quarterly financial statements going forward.

Elsewhere, Microsoft Corporation (NASDAQ:MSFT) shares rose after the tech giant said it was cutting costs of its Xbox One gaming console by $100.

Separately, Keurig Green Mountain Inc (NASDAQ:GMCR) shares rose after Coca-Cola Company (NYSE:KO) hiked its stake in the company, becoming the largest shareholder.

Leading Dow Jones Industrial Average performers included Microsoft Corporation (NASDAQ:MSFT), up 1.11%, The Travelers Companies Inc (NYSE:TRV), up 0.94%, and Caterpillar Inc (NYSE:CAT), up 0.89%.

The Dow Jones Industrial Average's worst performers included Cisco Systems Inc (NASDAQ:CSCO), down 1.34%, Home Depot Inc (NYSE:HD), down 1.28%, and AT&T Inc (NYSE:T), down 1.03%.

European indices, meanwhile, finished higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 0.11%, France's CAC 40 rose 0.25%, while Germany's DAX rose 0.54%. Meanwhile, in the U.K. the FTSE 100 rose 0.31%.

On Wednesday, the U.S. is to release data on producer price inflation.

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Prime Focus: Outcome of board meeting

Prime Focus at its meeting held on May 12, 2014, inter alia, has approved the adopted Vigil Mechanism/Whistle Blower Policy in accordance with Section 177 read with Rule 7 of Companies (Meeting of Board & its Powers) Rules, 2014 and as per the clause 49 of the Equity Listing Agreement.

Prime Focus Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 12, 2014, inter alia, has approved the following:1. Adopted Vigil Mechanism/Whistle Blower Policy in accordance with Section 177 read with Rule 7 of Companies (Meeting of Board & its Powers) Rules, 2014 and as per the clause 49 of the Equity Listing Agreement.2. Approved existing 'Remuneration Committee' to be considered as 'Nomination & Remuneration Committee' in terms of Section 178 (1) of the Companies Act, 2013.3. Approved existing 'Investors' Grievances Committee' to be considered as 'Stakeholders Relationship Committee' in terms of Section 178 (5) of the Companies Act, 2013.4. Adopted Corporate Social Responsibility policy in accordance with Section 135 of the Companies Act 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014.5.Designated following existing personnel as Key Managerial Personnel, pursuant to Section 203 of the Companies Act, 2013,Mr. Ramakrishnan Sankaranarayanan, Chief Executive Officer Mr. Nishant Fadia, Chief Financial Officer Mr. Navin Agarwal, Company SecretarySource : BSE

Read all announcements in Prime Focus

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Not much mkt upside left in run-up to May 16: Punita Sinha

Punita Kumar Sinha, Managing Partner, Pacific Paradigm Advisors doesnt see much upside left in the market in the run-up to the much awaited event - outocme of general elections on May 16. The Nifty hit 7,000 level on Monday for the first time in history and the Sensex rallied more than 500 points on hopes of a stable government coming to power post elections.

Speaking to CNBC-TV18 about the post-poll survey, she said that the market has almost factored-in NDA victory.

According to CNN-IBN-CSDS-Lokniti post-poll survey the BJP-led NDA is expected to get a clear majority on its own by winning 270-282 Lok Sabha seats . The BJP is likely to get its highest ever tally of 230-242 seats in the Lok Sabha.

Below is the verbatim transcript of Punita Kumar Sinha's interview with CNBC-TV18's Shereen Bhan

Q: The market at new record highs today anticipating a Modi victory, anticipating a Modi win. On the back of the numbers that we have thrown up 270-282 for the NDA and 230-240 for the BJP, do you believe the markets have priced in these numbers?

A: To a large extent they have priced it in, especially, given the rally in the last two days. The last two days have really factored in a lot of these numbers. However, having said that while in my view the domestic Indian investors are much more plugged into the news flow on elections, so, they probably factored all of this in but a lot of the global investors are not quite as plugged into the Indian election on a day-to-day and a moment-to-moment basis.

Q: It has been the FIIs that have been driving the market so far?

A: Some of the FIIs have but the broader group of FIIs especially ones that are investing in a large number of countries are not going to be able to follow the polls in a detailed manner that the domestic institutional investors can. So, because of that may be there is some upside left after the election result if they don't disappoint and they don't come below your numbers.

Q: So, if the numbers stand as they are and as per what the poll is suggesting come May 16, what kind of an upside do you see? The Nifty already at 7000 today, what kind of an upside do you see from these levels?

A: In my view there is not a lot of an upside left heading into the election results which is going to be on May 16. After that if the results have to be different than what the range is - that have been announced today across the polls and if it is any side down or up then the markets could react very sharply on the upside or downside. Having said that we are entering the summer month, we are seeing globally some jitteriness across markets. I do think immediately after the formation of the government and some kind of a short term knee jerk reaction to the election results the focus is again going to shift back to the Budget and all the other things that the government has to do.

For complete discussion, watch the accompanying videos

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FIPB to take up 34 FDI proposals on Tuesday

The Foreign Investment Promotion Board (FIPB) will take up 34 FDI proposals, including that of Ranbaxy Laboratories, Sistema Shyam and AT&T Global, on Tuesday.

The Foreign Investment Promotion Board (FIPB) will take up 34 FDI proposals, including that of Ranbaxy Laboratories , Sistema Shyam and AT&T Global, on Tuesday.

The other proposals which are before the board include those of Indian Rotocraft, Tech Mahindra , Bharti Shipyard and Johnson and Johnson Ltd.

The FIPB, chaired by Economic Affairs Secretary Arvind Mayaram, would meet on May 13 to decide on the proposals, sources said.

Of the proposals before the FIPB, Sistema Shyam Teleservices has sought the government approval to raise foreign stake in the firm beyond the current 74 percent.

Russian conglomerate Sistema JSFC holds 56.68 percent in SSTL, Russian government 17.14 percent and 0.13 percent other foreign entities.

SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.

Besides, American telecom firm AT&T Global Network, which provides internet bandwidth and related services to business houses, has approached FIPB to raise its stake in Indian arm.

AT&T hold international and national long distance (ILD/NLD) telecom services licences in partnership with Mahindra Telecommunications.

Sources said that AT&T has plans to go solo in India as government has increased FDI cap in telecom sector to 100 percent.

"Foreign ILD and NLD operators would be interested in raising their stake as joint ventures with Indian partners were mere regulatory formality," sources said.

Although it could not be immediately ascertained the proposal of Ranbaxy Laboratories, it may be recalled that last month Sun Pharma had announced to acquire Ranbaxy in an all stock transaction with a total equity value of USD 3.2 billion, along with debt of USD 800 million taking the overall deal value to USD 4 billion.

Also Read: CCEA likely to take up KKR's proposal today

Currently, Daiichi owns around 63.41 percent of the shares of Ranbaxy. The company is scheduled to acquire about 9 percent stake in Sun Pharma as a result of the merger.

Ranbaxy Labs stock price

On May 09, 2014, रेनबैक्सी लेबोरेटरीज closed at Rs 463.60, down Rs 5.9, or 1.26 percent. The 52-week high of the share was Rs 505.00 and the 52-week low was Rs 253.95.

The latest book value of the company is Rs 3.41 per share. At current value, the price-to-book value of the company was 135.95.

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Market cap of top seven Sensex cos advance by Rs 84,494 cr

The market valuation of top seven Sensex firms advanced by Rs 84,494.52 crore last week, in line with an overall strong stock market with  RIL and  ONGC emerging as the biggest gainers.

The list of gainers include ITC , CIL , HDFC Bank ,  SBI and ICICI Bank , while those who suffered losses in their market capitalisation (m-cap) were TCS ,  Infosys and HDFC .

The m-cap of RIL surged Rs 22,319.67 crore to Rs 3,22,369.67 crore, becoming the top gainer among the country's 10 most valued firms.

ONGC's m-cap zoomed Rs 15,956.17 crore to Rs 2,97,517.17 crore, while ICICI Bank added Rs 14,240.62 crore to Rs 1,58,818.62 crore.

The m-cap of HDFC Bank went up by Rs 9,688.41 crore to Rs 1,81,806.41 crore.

SBI's market cap surged Rs 9,474.94 crore to Rs 1,62,207.94 crore, while that of CIL jumped Rs 8,559.24 crore to Rs 1,95,207.24 crore.

Similarly, ITC's market cap rose by Rs 4,255.47 crore to Rs 2,74,782.47 crore.

On the other hand, TCS's market value plunged Rs 9,332.71 crore to Rs 4,23,320.29 crore and Infosys' value declined by Rs 6,568.7 crore to Rs 1,78,323.30 crore.

The value of HDFC fell by Rs 3,784.05 crore to Rs 1,37,918.95 crore.

In the ranking of top-10 firms, TCS stood at its numero- uno position, followed by RIL, ONGC, ITC, CIL, HDFC Bank, Infosys, SBI, ICICI Bank and HDFC.

Also Read: Wall St Week Ahead: Keep an eye on US revenue ruling cos

Over the past week, the benchmark BSE Sensex gained 590.34 points, or 2.63 percent, to end at 22,994.23.

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WEATHER ALERTS IN INDIA ON 10TH MAY

According to the latest weather update by Skymet Meteorology Division in India, here are the latest weather alerts for different parts of the country:

Weather alert for Haryana issued at 17:40 Hrs

Light to moderate dust storm and thundershowers are likely at some places over Bhiwani, Fatehabad, Jind, Mahendragarh, Rohtak, Sirsa and Sonipat districts of Haryana with strong winds ranging between 60 kmph and 110 kmph during the next 2 to 6 hours.

Weather alert for Rajasthan issued at 15:44 Hrs

Light to moderate dust storm and thundershowers are likely over Ajmer, Alwar, Bikaner, Churu, Hanumangarh, Jaipur, Jhunjhunu, Jodhpur, Nagaur, Pali, Sikar and Sri Ganganagar districts of Rajasthan with strong average winds of 50 kmph gusting at 80 kmph during the next 2 to 6 hours.

Weather alert for Punjab issued at 15:35 Hrs

Light to moderate rain and thundershowers are likely over Chandigarh, Hoshiarpur, Jalandhar, Ludhiana and Rupnagar districts of Punjab with strong average winds of 50 kmph gusting at 80 kmph during the next 2 to 6 hours.

Weather alert for Punjab issued at 15 Hrs

Light to moderate dust storm and thundershowers are likely over Delhi/NCR with strong winds ranging between 50 kmph and 80 kmph during the next 2 to 6 hours.

By: Skymetweather.com

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Sustainable ways of farming to reduce pressure on environment

Is the world efficient about what we grow, how we grow and where we grow? Agriculture is the backbone of survival and one hardly considers agriculture as a potential threat to the environment. But the truth is that few agricultural practices impact Global warming and prove detrimental for the planet Earth. We definitely picture cars and smokestacks but not our platter of food when we hear about Global warming.

It turns out that Agriculture is one of the greatest contributors to global warming, which emits much more greenhouse gases than big trucks, cars, trains and even airplanes combined.

Culprits of agriculture

The main culprits of agriculture are nitrous oxide coming from fertilized fields, increased carbon dioxide due to cutting of rain forests to grow crops or raise livestock and methane gas released by cattle and rice farms.

Farming consumes most of our precious water supplies and also serves as the major water polluter, thanks to runoff from fertilizers, chemical and pesticides. Manures also pollute water bodies and coastal ecosystems across the globe.

Agriculture also accelerates the loss of biodiversity by replacing forests with farm lands and leading to loss of crucial habitat of wildlife.

Few sustainable ways to feed the generations to come

Thus we see that agriculture poses critical environmental challenges and they are increasingly become more pressing as humans worldwide desperately try to meet the growing need for food.

Globally, an area approximately the size of South America has already been cleared to grow crops and roughly one more mid-sized continent to raise livestock till date. The loss of prairies ecosystems of North America and the Atlantic forest of Brazil could be attributed to agriculture. The situation now no longer allows the world to increase food production through agricultural expansion.

Here are few ways to solve the world's food dilemma.

Stop deforestation as trading tropical forests for farmland is the most destructive things we could possibly do. The practice should be to grow more on the already available farms. The world should now focus on increasing yields on less productive farmlands by using improved and hi-tech farming practices. Organic farming is also a good way to boost yields. It facilitates judicious use water and chemicals as it incorporates cover crops, mulches, and compost to improve soil quality and use less water. Commercial farming is good bet as it uses innovative ways to better target the application of fertilizers and pesticides. Computerized tractors equipped with advanced sensors and GPS help in this process. It's likely that there will be two billion more mouths to feed by the middle of this century. Moreover, with the increasing prosperity there is a rise in demand for meat and dairy products and thus, boosting the growth of corn and soybeans to feed the cattle. This could well necessitate doubling the amount of crops grown by the year 2050. Developed countries should take steps to reduce wastage by serving smaller portions and eating leftovers. Food joints, restaurants and supermarkets should effectively take measures to eradicate wastage .

picture courtesy- Louis Daria

By: Skymetweather.com

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