The European Union has approved 102 additional Indian marine establishments for exports, potentially increasing shipments by 20%. This decision, coinciding with FTA negotiations, signals growing confidence and improved standards. It offers relief to India’s shrimp sector amid US tariff challenges and strengthens the EU’s position as a key seafood export market.
Internet services faced disruptions across Africa, Asia, and the Middle East due to damaged undersea cables in the Red Sea. Experts suspect commercial shipping activity, specifically dragging anchors, as the likely cause. The incident affected connectivity in at least 10 countries, highlighting the vulnerability of critical global communication infrastructure in a congested and strategic waterway.
US Strategic Metals has signed a $500 million investment deal with Pakistan to develop its mineral sector, focusing on critical minerals. This agreement, along with another with Mota-Engil Group, aims to boost mineral processing and large-scale mining projects in Pakistan. The US embassy hailed the deal as a sign of strengthened US-Pakistan relations.
The government has granted packaged goods manufacturers permission to print revised MRPs on unsold stock following the new GST rules, allowing them to use existing packaging until December. This decision addresses industry concerns about potential waste of packaging material worth over Rs 2,000 crore.
GST reforms: Beyond the mere revamp of the existing slab structure, a series of far-reaching structural reforms are poised to address long-standing complexities within the GST framework.
A proposed US bill, the HIRE Act, threatens Indian IT firms with a 25% tax on outsourced services, potentially eroding their competitive edge. This legislative move, coupled with existing market pressures, could force Indian companies to seek growth beyond the US and impact new contract acquisitions. The bill raises concerns about increased costs and reduced…
Gold prices soared to a lifetime high on Monday, surpassing Rs 1.10 lakh per 10 grams, driven by a weakening US dollar and anticipation of Federal Reserve interest rate reductions. The surge, fueled by disappointing US labor market data, pushed international gold futures to unprecedented levels.
Altmin’s $250 million lithium refining project in Brazil has become the first Indian project listed with the Minerals Security Partnership, aiming to diversify critical mineral supply chains. The project, in collaboration with CBL, will refine spodumene ore into 32,000 tonnes of lithium carbonate. Altmin is also setting up India’s first lithium iron phosphate cathode gigafactory…
Naveen Jindal, President of the Indian Steel Association, anticipates a double-digit growth in India’s steel demand during the second half of the year, following a monsoon-induced slowdown. The recent GST reduction on cement and anticipated lower taxes on automobiles are expected to further stimulate steel consumption.
Rupert Murdoch’s family has finalized a succession plan, ensuring Lachlan Murdoch’s control over Fox Corp. until 2050. This arrangement, settling a dispute reminiscent of HBO’s “Succession,” grants Lachlan, along with his sisters Grace and Chloe, control of Fox News. Prudence MacLeod, Elisabeth Murdoch, and James Murdoch relinquished their claims for $3.
