El Niño News

23.03 / 02:53

markets Strategy economy Sustainability wellness Experts Interviews 'New income tax regime is yet to have any meaningful impact on ELSS schemes': AMC Expert

Edited Excerpts of an interview with Livemint 1) How do you assess the current domestic and global market conditions, and what factors are you closely monitoring? Inflation and geopolitical tension are the main factors impacting the global economy at present. US inflation, still hovering above the 3% level is proving to be stickier and more persistent, hence rates are likely to remain higher for the time being and any cut is unlikely in 1HCY24. To add to the concerns, the Red Sea attack by the Houthis added to higher freight rates across the globe.

20.03 / 08:33

Waters economy show stage country reports Department The depth of India’s water crisis, explained in charts

Summer is yet to fully set in, but taps in India’s tech capital Bengaluru are running dry. Coming on the back of Karnataka’s worst drought in over four decades, the current crisis shows us what could be in store for the rest of the country—in the immediate future for some parts, and in the foreseeable future for others—as water remains a precious and scarce commodity. The India Meteorological Department (IMD) has warned of a hotter and drier summer this year due to the El Niño effect.

20.03 / 05:57

Citi Waters Extreme Google Southern show country NOT Not just Bengaluru. Many cities in India stare at summer water crisis as reservoir levels fall to 5-year lows

In major centres such as India's 'Silicon Valley' Bengaluru, home to firms like Google, water supply is already being curtailed. The 150 reservoirs monitored by the federal government -which supply water for drinking and irrigation and are the country's key source of hydro-electricity — were filled to just 40% of capacity last week, government data showed.

18.03 / 00:57

markets UPS Manufacturing economy Enterprise Trade shock India made a capex bet during covid. It worked: Arvind Virmani

₹11.1 trillion for FY25 in the interim budget in February. Virmani said expectations of growth beating estimates this year was really the capital expenditure multiplier of the budget working through the system, which will continue over the years and get better. Building infrastructure is helping not just the GDP growth, but has also added more employment for construction workers, he said.

13.03 / 20:39

markets UPS Food Patrick country Zimbabwe predicts a sharp decline in tobacco crop as El Niño takes toll, a year after record harvest

Zimbabwe, Africa's largest tobacco producer, has begun its annual tobacco-selling season with officials and farmers projecting a sharp decline in harvests and quality because of a drought blamed on climate change and worsened by the El Niño weather phe...

10.03 / 21:11

markets UPS Volkswagen economy Hyundai Inside Upbeat on demand, car cos revise forecast upwards again

car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by better-than-expected economic growth especially in the last two quarters, favourable monsoons despite the El Nino conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption buoyed demand, industry insiders said. Earlier in the year, the industry had estimated sales of 4 million units and 4.13 million units.

10.03 / 19:31

COST UPS Citi ICE Research wellness show Don’t let hybrids muddle our path to net-zero: EVs must prevail

An Economist article on 7 February 2024 by Elizabeth Lees presented a pictorial representation of the world’s heat map over the past 60 years as compared to pre-Industrial Age temperatures. The latter half of 2023 showed a 2° Celsius heating above the pre-industrial level, and while it was an El Niño year of additional warming, this illustrates the climate-change disaster that we are facing today. The only way the earth will survive is if we stop using fossil fuels as a source of energy at the earliest.

10.03 / 17:27

markets UPS Volkswagen economy Hyundai Inside Carmakers raise FY24 sales growth projection to 8.2%

car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by better-than-expected economic growth especially in the last two quarters, favourable monsoons despite the El Niño conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption buoyed demand, industry insiders said. Earlier in the year, the industry had estimated sales of 4 million units and 4.13 million units.

05.03 / 21:57

COST CEO wellness Inside Latin reports Retailer Cencosud posts profit down 42% on Argentine inflation, slow consumption

(Reuters) — Chile's Cencosud, one of Latin America's largest retailers, on Tuesday reported a 42% fall in fourth-quarter net profit, landing at 83.3 billion pesos ($94 million), while revenues shrunk 16% to 3.30 trillion pesos.

05.03 / 09:51

FIVE Extreme Southern trends track Updates 2023-24 El Nino among five strongest on record, will continue fuelling heat in 2024: WMO

El Nino has peaked as one of the five strongest on record and will continue to impact global climate in the coming months despite a weakening trend, the World Meteorological Organisation said on Tuesday. The UN agency also said above-normal temperatures are predicted over almost all land areas between March and May. The prevailing El Nino conditions fuelled record temperatures and extreme events the world over, with 2023 being the warmest on record. According to the European Union's Copernicus Climate Change Service, the global mean temperature breached the 1.5-degree Celsius threshold for an entire year for the first time in January.

05.03 / 03:15

markets UPS Target FIVE Food Philippine inflation quickens for the first time in five months in February

By Neil Jerome Morales and Mikhail Flores

03.03 / 07:55

UPS Highways country cover Department Traffic Videos Shimla, Himachal Pradesh covered in fresh blanket of Snow, IMD indicates rainfall in Uttaakhand, J&K | Watch here

Himachal Pradesh, was seen adorned with fresh snowfall, as per a video shared by ANI. Nestled amidst majestic mountains, Shimla transformed into a magical winter wonderland every year, and this time is no different. The India Meteorological Department (IMD) has issued a forecast for light to moderate rainfall or snowfall in parts of Jammu & Kashmir, Himachal Pradesh, and Uttarakhand today.

01.03 / 13:57

UPS Waters Extreme Southern country Will Canada’s ‘wild’ winter continue into spring? Here’s what to expect

Canadians have been experiencing a “wild” winter, from temperatures in the mid-teens in parts of the country around the new year, to deep freezes as recent as Thursday in southern Ontario. It’s safe to say people are hoping for a calmer spring.

01.03 / 10:40

COST Racing Research Universities Sporting mountaineering Climate change cost U.S. ski industry billions, study says, and future depends on emissions

A new study says U.S. ski areas lost $5 billion from 2000 to 2019 as a result of human-caused climate change

01.03 / 10:39

Citi Waters Research President Experts country Inside A Brazilian state in the Amazon has been hit with more than 2,000 fires in February

Data from Brazil's space agency says the state of Roraima in the Amazon rainforest has been hit with more than 2,000 fires in recent weeks

29.02 / 17:03

Progressive Waters Compilation Election reports El Nino hits foodgrain production in 2023-24 crop year

NEW DELHI : India’s foodgrain production is estimated to be 6.1% lower in the 2023-24 crop year (July-June) because of poor monsoon caused by the El Nino weather phenomenon, potentially adding to inflationary pressures ahead of the general election. Total foodgrain production in 2023-24 is estimated to be 309 million tonnes (mt), according to the second advance estimates issued by the agriculture and farmers’ welfare ministry on Thursday. Foodgrain production in the 2022-23 crop year was pegged at 329.6 mt, as per the government’s final estimates.

13.02 / 03:11

Waters Food Trade show track Department International Trade winds in RBI sails: A receding El Niño may ease food inflation

Meteorologists have predicted that El Niño conditions are set to dissipate by this summer, perhaps even by June, raising hopes of a bountiful Indian monsoon in 2024. After below-average cumulative rainfall and a warm 2023, various national weather forecasting agencies now expect this see-saw of the Pacific Ocean to turn neutral by April-June and then start developing into La Niña, the opposite condition. As geography dictates and experience shows, this switch implies a shift from a relatively parched Indian subcontinent to a wetter one.

12.02 / 22:49

markets COST Trade love Celebrity International Rising Cocoa Prices Make Chocolate More Expensive This Valentine's Day

If your loved one is expecting chocolate this Valentine's Day, celebrating it may prove not-so-sweet for your wallet.

11.02 / 11:19

COST Booking Waters Trade country travelers strain Mint Explainer: The unprecedented crisis in the Panama Canal hurting world trade

Mint delves into the underlying causes of the unprecedented crisis in the Panama Canal, highlighting its significance as a crucial trade choke point in global commerce. Additionally, it examines how these challenges exacerbate the already strained global shipping industry. The Panama Canal is currently experiencing a severe drought attributed to the El Niño phenomenon, characterized by the warming of Pacific Ocean waters occurring every two to seven years.

11.02 / 06:03

Citi track information reports Department Updates Bengaluru's early summer heat eases with March rainfall forecast, says IMD. Check details here

India Meteorological Department (IMD) has predicted a decrease in temperatures with the arrival of rainfall starting in March, Times of India reported. Although the average maximum temperature for February stands at 30.9 degrees Celsius, the city seems to be on track to surpass its all-time record of 35.9 degrees, set back in 2005. Typically, the city should have received 7.1 mm of rainfall in February, but so far, there has been no sign of it.

09.02 / 17:21

Waves Extreme Research wellness Patterson show Did humanity just break the Paris climate agreement?

global temperatures were more than 1.5 degrees Celsius warmer than pre-industrial levels for 12 consecutive months. From February 2023 to January 2024, average temperatures were 1.52 degrees Celsius — converted, the equivalent of 2.73 degrees Fahrenheit — warmer than between 1850 and 1900. That's when humans started warming the planet by burning fossil fuels and pumping greenhouse gases into the atmosphere. This came as the planet experienced its hottest January on record, according to the European Union's Copernicus Climate Change Service (C3S).

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