Business & Market News

The power ministry has announced that electricity generation from at least 81 coal-fired utilities will be reduced over the next four years. This is in line with the country’s commitment to cut carbon emission by 1 billion tonne and bring down carbon intensity of the economy by 45% by 2030. “The thermal power plants in future shall operate up to the technical minimum to accommodate cheaper renewable energy when it is available,” the ministry said in a letter to senior officials in central and state power departments dated May 26. The plan aims to maximise green energy potential and save costs, the ministry said but said it will not involve shutting down old and expensive power plants. India has 173 coal-fired plants. The move follows state-run NTPC’s decision to put plans to expand coal-fired capacities on the front-burner, and step up coal imports in the short term, given the widening demand-supply mismatch in the sector. An NTPC official told reporters recently the company would s...

Investor sentiment lifted last week on solid retail earnings and an inflation report that showed prices could be easing. from US Top News and Analysis https://ift.tt/fwXCYns https://ift.tt/nJosS3q

JSW Steel, the flagship company of the diversified JSW Group, will expand its production capacity in the country by 10 million tonne to 36 million tonne per annum (mtpa), with an estimated investment of Rs 20,000 crore. Further, the firm would also spend another Rs 16,000 crore for capital expenditure next year. “The capacity expansion would be from 26 mtpa, which would be about 7.5 mtpa at Vijayanagar and 2.5 mtpa at Bhushan Power & Steel (BPSL). These would be met through internal cash flows. The capex for the last fiscal stood at Rs 15,000 crore. Last year, we increased capacity to 23 mtpa from the earlier 18 mtpa, and adding BPSL, our total would be 26 mtpa,” JSW Steel joint managing director and group CFO Seshagiri Rao MVS said. JSW Steel is planning to expand capacity to 5 mtpa by FY24 from the present 2.7 mtpa, he added. The firm is also expecting the merger of Monnet Ispat & Energy (now JSW Ispat Special Products) to add 1 million tonne to the overall production capac...

Fintechs and payday lenders are aggressively lending to gig-economy workers even as banks and large non-banking financial companies (NBFCs) grow more conservative in the space. Fintech lenders have seen demand from food and grocery delivery executives with various app-based platforms jump by up to 40% in Q4FY22, industry executives said. The higher demand, in turn, is being driven by elevated inflation, which is leading delivery executives to borrow more to bridge cash flow mismatches. Lenders active in the segment believe the demand is arising out of an improvement in consumption trends with the pandemic receding. Bhavin Patel, co-founder and CEO, LenDenClub, said with a pick-up in consumption, the need for delivery executives has grown across all industries for various app-based platforms. Furthermore, as the size of the workforce rises, many delivery executives seek small-ticket loans or advanced salaries and payday loans to meet their operating expenditures. The increase in deman...

By Nayan Dave Production of Gujarat’s Kesar mango has declined in the current season compared to previous year, and spiralling prices have also led to a sharp fall in exports. The Kesar variety accounts for nearly 50% of the total mango production of around 700,000 metric tonne (MT) in Gujarat, according to PM Vaghasia, director of horticulture, Gujarat government. “Due to an extended monsoon, Cyclone Tauktae and pest issues, production of Kesar mango in the coastal belt of Saurashtra may remain low. However, in Kutch and South Gujarat, Kesar production will remain normal,” Vaghasia said. As per an estimate, there are nearly 15 million mango trees in Gujarat, of which 650,000 to 700,000 were felled due to Cyclone Tauktae in May last year. This is likely to result in a 10% production loss in the Kesar variety this year, said an official of the state agriculture department. Of the three Kesar-growing regions, mangoes grown in and around Gir forest are considered the best for their un...

With increasing volatility in the markets, individuals are preferring to invest in multi-cap funds to diversify their portfolio. These funds invest a minimum 25% each in large-cap, mid-cap and small-cap stocks after the new asset classification norms introduced by the markets regulator in September 2020. Before that, most multi-cap funds invested a higher proportion in large-cap funds. In order to make the transition smooth for multi-cap investors, Securities and Exchange Board of India (Sebi) introduced a new category called ‘flexi-cap’, where fund managers have to invest at least 65% of the corpus in equity without any restrictions on investing in large-, mid- or small-cap companies. Experts say investors are looking at investing in multi-cap funds because of higher returns than flexi-cap funds. Volatility is here to stay Experts say as the market volatility is here to stay for some time given the current macroeconomic and geopolitical factors, diversification is the key to managi...

By Chaitali Dutta If I have to do part payment of my home loan, should I do it in the first week of the month to reduce the simple interest payout? — Akash Thakur Most of the home loans are on a daily reducing balance, so it would not matter which date you chose for part payment. The earliest the better. However, if your home loan is on a monthly reducing balance, then better to pay it before the 7th of the month. Last year, I had availed a top-up loan. Now, I have got some amount from the proceeds of an investment. Should I use it to prepay a part of the loan? — PR Sagar If the amount you received is surplus funds that you feel that if invested, will fetch a lower rate of return than the interest charged on your home loan, then go ahead and reduce your loan liability. Is there any age limit for a parent to get an education loan? I will retire next year, and my son needs funds to pursue an MBA in Ireland. Can I get a loan which I will repay from rental income I will earn after re...

From June 1, vehicle owners will have to pay higher third-party motor insurance premiums. For private cars up to 1,000 cc engine capacity, the premium will rise to Rs 2,094 from Rs 2,072; for those exceeding 1000 cc but less than 1500 cc, the premium would increase to Rs 3,416 from Rs 3,221 and for those above 1,500 cc, the premium would increase to Rs 7,897 from Rs 7,890. The premium for two-wheelers up to 75 cc will rise around 12% to Rs 538 from Rs 482. For two-wheelers exceeding 75 cc but up to 150 cc (the most-popular category) the premium remains the same at Rs 714. For those exceeding 150cc but up to 350 cc, the premium will rise to Rs 1,366 from Rs 1,193 and for those above 350cc, it will go up by 21% to Rs 2,804 from Rs 2,323, according to a government notification. Third-party motor insurance is mandatory under the Motor Vehicles Act and insurers will have to ensure that the cover is available at their underwriting offices. Private cars registered as vintage cars will get ...

Gujarat Titans won the Indian Premier League title in their maiden season as they beat Rajasthan Royals by seven wickets in the final here on Sunday. Opting to bat after winning the toss, Rajasthan Royals were restricted to 130 for nine by the Gujarat bowlers at a packed Narendra Modi Stadium. The tournament’s top scorer, Jos Buttler, got out to GT skipper Hardik Pandya after making 39 off 35 balls. Hardik bowled brilliantly to finish with figures of 3/17 in his four overs, while Rashid Khan too had an excellent outing, taking 1/18 in his full quota of overs. In reply, GT lost two early wickets but eventually chased down the target of 131 with 11 balls to spare. from | The Financial Express https://ift.tt/lZxdIhN https://ift.tt/9fVimpH Subham Mitra

The first thing that strikes you about vivo T1 Pro 5G is its smooth running and camera quality. It blends top-notch features with fast performance, all-day battery life, and an innovative camera. It’s available in two vibrant colours — Turbo Black and Ice Dawn at Rs 23,999 (6GB+128GB) and Rs 24,999 (8GB+128 GB). Design & display T1 Pro 5G sports an attractive 6.44-inch AMOLED display with 6 million:1 contrast ratio and supports 100% wide DCI-P3 colour gamut with peak brightness of up to 1300 nits. The SGS Eye Care Display offers protection against blue light. In the hand, it provides a smooth and comfortable grip. The customised super loudspeaker along with a Smart PA (power amplifier) technology intelligently adjusts how the speaker works in different situations to offer deep and rich sounds.  Camera Vivo T1 Pro 5G lets users capture some great moments with 64MP AI triple camera for high-definition night shots, complemented by 8MP ultra-wide, 2MP Macro camera along with 16...

By Joydeep Sen Today we all know that the Reserve Bank of India (RBI) is increasing interest rates. It has delivered the first instalment on May 4, 2022, by increasing the signal repo rate—the rate at which the RBI lends to banks — by 40 basis points (0.4%) from 4% to 4.4%. We know that there is more to come. Let’s take a perspective on the way forward, for clarity. The primary objective of the RBI is to control inflation, while keeping in mind the objective of growth. Inflation is a concern now, which necessitates that the RBI increase interest rates. Though growth will be impacted to an extent due to higher interest rates, the RBI does not have a choice now. Rather, we are at a better position now on the growth front than, say, the USA. In the USA, in the quarter January to March 2022, the economy contracted by 1.4% over the previous quarter. Spiralling inflation Consumer inflation in the US was 8.5% in March 2022, which eased to 8.3% in April 2022. In the US, the Federal Reserve...

By Shubhangi Shah Most of us have grown up listening to stories narrated by our parents and grandparents. Legends from Ramayana and Mahabharata, folk tales, religious stories, those about ordinary people, animals—listening to these were enough to take us to a fictional land so engrossing that just one short story wasn’t enough to satiate our creative instincts. Sadly, with the increasing popularity of other mediums, such as TV, social media and OTT platforms, this art of oral storytelling is swiftly fading away. A festival for storytelling “When we started, it was very difficult to find Indian storytellers,” said Shaguna Gahilote, a writer, professional storyteller, and one of the three organisers of Kathakar: International Storytellers Festival, the other two being her sisters Rachna and Prarthna. The festival, an annual affair that started in 2011, held its 14th edition this year on May 20 and 21 at New Delhi’s Sunder Nursery opposite the towering Humayun’s Tomb. “These were t...

By Dr Vigyan Jain How safe are cosmetic procedures offered by salons and wellness centres for obesity control? There are no invasive procedures which should be offered by salons and wellness centres for obesity control. How safe are medical procedures like liposuction? They are high-risk procedures and should be done in a well regulated set-up with experienced personnel with a proven track record. Who are the patients advised to opt for such procedures? Patients who require cosmetic and body contouring only may be advised to undergo such procedures. It can be useful in selected cases, post-plastic surgery after successful bariatric surgery. They are not suitable for weight loss. Is it advisable to take pills for obesity control? Who are the right candidates for such medications? Taking medications can be useful in selected group of patients. There are very few drugs now available for weight loss. But they have to be under the guidance of a specialist in obesity medicine in the ...

There’s something that stays with the audience when they watch the emotional coming-out scene of Rajkummar Rao in the film, Badhaai Do. He remarks, ‘Gay hai hum’, as he supports his wife’s sexuality and explains to his shocked family members how this was not a disease but a natural choice for many. Similarly, in Chandigarh Kare Aashiqui, Vaani Kapoor’s life is a struggle, as she fights to be what she is—a trans woman. However, as she falls in love with a boy (Ayushmann Khurrana), the conflict and resolution of the plot take the audience through the highs and lows of the journey of trans people. Meanwhile, Khurrana’s Shubh Mangal Zyada Saavdhan is a typical Bollywood romantic drama on the lines of Dilwale Dulhaniya Le Jayenge but with a twist—the journey of falling in love with a man of the same sex and the family’s opposition and eventual acceptance of the relationship. These Bollywood titles are not just examples of how the film industry is finally reflecting this side of society but...

By Rudranath Sanyal In his seminal book, The Great Mutiny: India 1857, popular historian Christopher Hibbert had reproduced a startling observation of Lady Charlotte Canning, the first Vicereine of British India. She said English families that had settled in India before the Mutiny of 1857, were “more insipid and dull than words can explain…and generally very under bred”. Lady Canning had clarified that these British men and women who lived in India but went to England for education were not any subset of native Indian society. In fact, in that age, Europeans who lived and flourished in India looked up to well rounded and prosperous Indians like Dwarakanath Tagore who were received by British PMs in London and entertained by Queen Victoria in her palace. MJ Akbar’s latest book Doolally Sahib and the Black Zamindar: Racism and Revenge in the British Raj comes with more astonishing pointers. With thorough research that includes vignettes from both 1857 and the periods before and after ...

A celebration of Turkish cuisine around the world was held last week around the globe. Held for the first time this year from May 21 to 27, Turkish Cuisine Week aims to showcase Turkish dishes in their original and authentic versions. The event was celebrated with promotional events in Turkey and cities across the world. In India, the Oberoi, New Delhi, hosted the event, which concludes today, where chef Erdal Agat brought to the table unique and legendary flavours at 360° restaurant. Recipes of the special menu originate from Turkish Cuisine With Timeless Recipes, the gastronomy book published under the leadership of First Lady Emine Erdogan and under the auspices of the Presidency. The menu included a balance of meat and vegetarian dishes, starting with lentil soup and a beautifully balanced egg and lemon chicken soup. The Mezze comprised a vast selection, with the baby spinach and walnut tartar sauce standing out along with the carrots with yogurt. Eggplant moussaka, okra chicken ...

By Shubhangi Shah The department of telecommunications is set to come up with a mechanism that will enable the name of the caller to flash on the receiver’s mobile phone even if the number isn’t saved in the user’s contact list. Currently, we all use caller ID apps, such as Truecaller, for the same. However, the mechanisms in place are different. Such apps reportedly use crowdsourced data to show you the name of the caller. Evidently, these are not accurate all the time. The Indian government’s mechanism, on the other hand, relies on the KYC (know your customer) data that you share with your network provider to avail the services. As you might already know, these include ID proofs such as the Aadhaar card. Hence, chances are slimmer for inaccuracy. Another advantage is that with such a mechanism in place, users will be able to evade spam calls. It is an important function as India is the fourth-most spammed country, as per a report by the Truecaller app last year. Another latest repo...

Films on superhumans and other-worldly creatures have always caught the attention of audiences, be it the popular Star War series or the Avatar film series that have developed a cult status. The popularity of these films has also led to their comic adaptations and adaptations as series, films and more in pop culture. We bring you movies and series that provide other-worldly experiences. Avatar The Avatar franchise by James Cameron is a series of science fiction films that became popular immediately after its release for their portrayal of other-worldly creatures. The first film in the series came out in 2009 and was the highest grosser of all times till about a decade after its release. The combined budget of all the films exceeds $1 billion and is known to be the most expensive franchises. Recently, the trailer for Avatar: The Way of Water was released. The film comes out in December this year. Avatar 3, 4 and 5 are planned for release in the years 2024, 2026, 2028. The Lord of the...

Stocks could carry the latest rally's momentum into next week as investors look ahead to Friday’s jobs report. from US Top News and Analysis https://ift.tt/tIv3psu https://ift.tt/el4YIna

In order to sensitise banks and other financial institutions to the risks of climate change, the central bank is going to issue a consultative paper. The paper will familiarise banks with international practices and enable adoption of a strategic approach to climate-related risks. “The physical and transition risks either individually or together may be high for India under the ‘current policies’ scenario. A successful implementation of emission reduction for India carries inflationary risks, which will need to be managed through carefully crafted transition plans,” the central bank said in its annual report for 2021-22. In January 2022, the RBI-mandated Sustainable Finance Group (SFG) did a survey with PSU banks, private and foreign banks. The central bank will include the feedback in the paper on climate change risk. The SFG coordinates with other national and international agencies on issues relating to climate change. The group will suggest strategies and study evolving a regula...

Signs that inflation is at least starting to abate from a 40-year high could be a positive for stocks, according to Goldman Sachs. from US Top News and Analysis https://ift.tt/TLRanuS https://ift.tt/el4YIna

By Nayan Dave Cascading effects of inflated prices of cotton and other inputs have forced textile processing units in Gujarat to cut dyeing and printing activities by nearly 40%. Many of the nearly 3,000 processing units in Surat, Ahmedabad and Jetpur have told their employees to work just thrice a week. “Apart from unprecedented high cotton prices, retail demand for fabric and garments is sluggish. Moreover, due to heatwave, footfalls in textile markets have reduced by more than 50%. Outstation traders are also avoiding visits. The situation is likely to improve after the monsoon,” said Jitendra Vakharia, president of the South Gujarat Textile Processors Association. Surat-based weavers, who normally produce nearly 4 crore metres of grey fabric daily, but are producing hardly 2.5 crore metres at present due to overall inflation, Vakharia said. Besides, high prices of coal have made textile processing even costlier. Instead of retrenching workers, many processors have told them to...

If inflation peaks and earnings are strong heading toward 2023, it could be enough to boost investor confidence. from US Top News and Analysis https://ift.tt/gF7nEvc https://ift.tt/el4YIna

In the insurance industry, policy servicing is an integral part of the product itself. Without policy servicing, the product ceases to exist. Unless the agents and policyholders are in touch with each other, the policyholders may miss out something very important concerning the use of the policy. Some unscrupulous person may make the policyholder surrender his policy to buy a new one. This results in loss for the policyholder, the insurer and the agent. Many policyholders complain that the agents do not keep in touch with them. This can happen for a variety of reasons. In some cases, agents are terminated or have exited from the industry on their own volition. But there are other cases which merit special attention. Let us get some reality check about agents’ commissions. Commissions earned by agents Many of us have a false perception that agents earn huge commissions and other incentives from their companies. Some experts advise the customers to ask the agents to clearly state how ...

The board of IDBI Bank has approved an annual general meeting (AGM) to raise funds through the equity route. Shareholders will approve the fund-raising in the AGM. “…the board of directors of IDBI Bank at its meeting held on Thursday has approved the notice convening the 18th annual general meeting of the bank which included passing an enabling special resolution for issue of equity capital through various modes,” the lender said in an exchange filing. In December 2020, IDBI Bank had raised Rs 1,435 crore via qualified institutional placement. Life Insurance Corporation, which holds a little over 49% stake in the bank, infused Rs 4,743 crore into the lender in October 2019. In its previous AGM, the bank had sought the approval of its shareholders for raising Rs 7,500 crore via equity, according to information in its annual report for FY21. Earlier this month, the bank announced sale of some non-core assets. The lender agreed to sell its 25% stake in Ageas Federal Life Insurance Compa...

A group health insurance policy provided by an employer to the employees comes with its own share of benefits. Not only is the premium low, such a group cover also has a comprehensive coverage with fewer policy exclusions. The premium is generally borne by the employer while some employers include them as a part of the cost to the company. A big concern for employees is that on changing jobs, the coverage drops, leaving the employee without any insurance coverage. This is because, in an employer-provided health insurance policy, the employee stands to derive benefits till the time he or she is on the payroll of a company. Porting from a group policy However, the good news is that portability from a group cover to an individual cover is allowed and an employee should make sure to do so before bidding adieu to the employer. The biggest advantage of porting from a group policy to an individual policy is the continuity of benefits. Here’s how continuity benefits works. There are certai...

FDA Commissioner Dr. Robert Califf said it will take about two months for shelves to be full with formula again. from US Top News and Analysis https://ift.tt/GBC5jHs https://ift.tt/dVQz2lX

Snapping their three-day slide, the benchmark indices smartly bounced back on Thursday as investors picked up beaten-down financial stocks. Bank stocks bolstered gains in benchmarks, with the Bank Nifty rising 2.2%. The index has gained 6% over the last two weeks, against 2.5% gain clocked by the Nifty50. While the Sensex surged 503.27 points or 0.94% to settle at 54,252.53, the Nifty50 jumped 144.35 points or 0.90% to end the session at 16,170.15 points. However, the breadth lacked strength with 1,623 stocks sliding for 1,690 advances on the BSE. The Nifty midcap and smallcap rose 1.4% and 0.8%, respectively. With the US FOMC minutes out of the way now, the market is more or less getting prepared for the likely rate hikes, and hence we saw strong buying on the F&O expiry day,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities, adding that relief rallies will still be seen amid volatility. Strategists expect the markets to remain volatile for the short an...

Total housing wealth grew by $8.2 trillion between 2010 and 2020, according to a March report from the National Association of Realtors. from US Top News and Analysis https://ift.tt/wE7p8e0 https://ift.tt/dVQz2lX

Oz, who is endorsed by former President Donald Trump, led former hedge funder McCormick in the final tally by less than half a percentage point. from US Top News and Analysis https://ift.tt/HjdtLA1 https://ift.tt/RTmEdWZ

By Nayan Dave Touted as the world’s largest office building on a single basement, Surat Diamond Bourse (SDB) will be inaugurated by Prime Minister Narendra Modi in November this year. With construction works of its nine towers completed, landscaping and beautification work at SDB site near Khajod village has been initiated, said Vallabh Lakhani, chairman of the SDB confirming, “The Prime Minister has consented to inaugurate the project somewhere around Diwali. We are planning the grand opening of the SDB.” The SDB project is a part of the 2,000-acre Surat Diamond Research and Mercantile City (DREAM City), being developed on the lines of the Gujarat International Finance Tec-City (GIFT City). It is being developed on 100-acres of land, nearly 10 km from downtown Surat. With the emergence of SDB, the diamond industry is targeting to bring in an annual turnover of over Rs 2.5 lakh crore (more than $ 27 billion) once it would become fully operational, claimed Lakhani. On June 5th, the ...

Many Americans retire without enough savings. These resources can help them make ends meet. from US Top News and Analysis https://ift.tt/nDmf05L https://ift.tt/RTmEdWZ

Low-cost carrier SpiceJet has settled a dispute over non-payment of about $24 million (nearly Rs 181.11 crore) to Switzerland-based investment bank and financial services firm Credit Suisse AG. The settlement involves payment of a certain amount upfront and the balance over a mutually agreed timeline, SpiceJet said in a statement. The airline, however, did not disclose the quantum of the payments. The settlement and consent terms, executed on Monday, have also been filed before the Supreme Court for final orders. SpiceJet has also provided a bank guarantee of $5 million following the direction of the Madras High Court, and there is no adverse financial liability on the company. The settlement with Credit Suisse follows SpiceJet’s successful settlements with De Havilland Aircraft of Canada (DHC), Boeing, CDB Aviation, BOC Aviation and Avolon. This also provides an “impetus to normalisation, growth and expansion of the airline”, it added. The issue dates back to 2021, when Credit Sui...

Some Illinois residents are receiving checks from a Facebook settlement, and experts say tech companies will need to keep paying up for violating user privacy. from US Top News and Analysis https://ift.tt/mYVAtDz https://ift.tt/RTmEdWZ

The Atlantic season has experienced a growing number of destructive, rapidly intensifying hurricanes over the past several decades. from US Top News and Analysis https://ift.tt/m8W5GkQ https://ift.tt/bM4Sk09

MO Alternate Investment Advisors (MOPE), a subsidiary of Motilal Oswal Financial Services, and an existing investor have committed to invest a total of Rs 90 crore in Kushal’s Retail, a Bengaluru-based jewellery retailer. MOPE has committed to invest Rs 85 crore from its India Business Excellence Fund–III, while the remaining investments will be made by India SME Investments–Fund I, an existing investor in the firm. This is a follow-on investment by India SME Investments–Fund I, the companies said in a joint statement. “We believe the fashion jewellery segment in India is poised to be a $6-7 billion industry in the next 4-5 years, largely driven by increasing consumption by the millennial segment. The industry currently is largely unorganised, and we believe the shift towards organised retail and online will happen at a fast pace,” MOPE Managing Director and Chief Executive Officer Vishal Tulsyan said. “Kushal’s, with its intricate designs, strong focus on product quality and a prem...

High-grading means selling and taking a little bit of pain in a position that's not right in the current investing environment. from US Top News and Analysis https://ift.tt/iFWB36Q https://ift.tt/bM4Sk09

GIC, Singapore’s sovereign wealth fund, is acquiring a 7.5% equity stake in Aditya Birla Fashion and Retail (ABFRL) for Rs 2,195 crore, the company said in a release on Tuesday. The investment will be made by way of preferential equity and warrants. In the first tranche, GIC will invest Rs 770 crore, while the remaining Rs 1,425 crore would be infused within 18 months. After the investment, Aditya Birla Group will hold a controlling stake of 51.9% in the company. The capital infusion will strengthen ABFRL’s balance sheet. The company had de-leveraged significantly in Q3FY22 and taken on some debt in Q4FY22, primarily due to the build-up of inventory for the summer season. Analysts expect debt levels to stay within manageable limits in the current year. “All of ABFRL’s businesses will be operationally profitable in FY2023, though Pantaloons and ethnic wear businesses may require funds for growth. We believe cash flows from Madura business will suffice and ABFRL can close FY2023 with ...

Saudi Arabia has long labeled Iran as the biggest threat to stability in the wider Middle East. from US Top News and Analysis https://ift.tt/gLXhNVb https://ift.tt/bM4Sk09

Biden admin's COVID vaccine, testing 'action' will help get people back to work: US labor secretary Labor Secretary Marty Walsh argued on Friday that the “fear” of the coronavirus pandemic contributes to lackluster labor participation. via FOX BUSINESS NEWS https://ift.tt/oOhJtYz

By Nayan Dave & Sandip Das Four out of five ships which were stranded at Kandla port with more than 0.26 million tonne (MT) of wheat since India imposed a shipment ban on May 13 have been allowed to depart to respective destinations. “Another ship is expected to leave Kandla port with 0.06 MT of wheat to Indonesia,” Dinesh Gupta, president of Kandla Custom Brokers’ Association, told FE. “These ships were half-filled with wheat when the government imposed a ban on exports. Seven more ships are waiting for berthing approval,” said Gupta. He also said these ships had come for wheat shipments, but now they are willing to take other available commodities from Kandla and Mundra ports. Sources said there is around 1 MT of wheat yet to be shipped from Kandla port, as the government is trying to ascertain the exact nature of the line of credit entered into by traders for exports of wheat. Meanwhile, the traders are shifting wheat bags in warehouses in the proximity of Kandla port in ant...

Loliware substitutes seaweed for plastic in making disposable utensils. from US Top News and Analysis https://ift.tt/9QtJiym https://ift.tt/aRLu7JV

Jet Airways has made four top-level appointments as the airline prepares to take to the skies again, three years after it was grounded due to a financial crunch. The full-service carrier is slated to start commercial operations in the third quarter of this calendar year. The airline has roped in Prabh Sharan Singh as chief digital officer, HR Jagannath as vice-president (engineering), Mark Turner as vice-president (inflight product and services), and Vishesh Khanna as vice-president (sales, distribution and customer engagement). The new members would be joining the carrier between May and July. Singh, currently senior vice-president at WNS Global Services, had earlier worked with Etihad Airways and Kingfisher Airlines. He will take charge from June 1. Jagannath, who joined Jet Airways on Monday, was most recently the chief executive officer of Air India Engineering Services, Air India’s maintenance, repair and overhaul subsidiary. Mark Turner, who will take charge from June 15, had ...

The combination of these purchases speaks to the importance of balancing a long view with a short focus. from US Top News and Analysis https://ift.tt/dj962T4 https://ift.tt/aRLu7JV

Stock futures rose in overnight trading Sunday after the Dow fell for its 8th straight week amid a broader market sell-off. from US Top News and Analysis https://ift.tt/SeHtr8B https://ift.tt/npKArBx

With OnePlus Nord Buds, this device maker has made its debut in the hotly contested entry-level hearable category. Priced at Rs 2,799 and available in two colours—Black Slate and White Marble— OnePlus Nord Buds are equipped with rich features and high-end design, offering unparalleled audio experience amongst the entry-level hearables and great battery life with super-fast charging. Plus, they are IP55 rated against water and sweat, and have a sweat-resistant hydrophobic nano-coating that protects against corrosion. The Nord Buds are equipped with 12.4 mm titanium dynamic drivers that were handpicked by OnePlus’ acoustic engineers for their rich bass reproduction and razor-sharp treble. Just like the OnePlus Buds Z2, these come with support for Dolby Atmos. The Nord Buds are equipped with four microphones for filtering out unwanted background noise during calls. Moreover, the Nord Buds leverage AI powered noise reduction algorithms and have a mechanical design to reduce the noise of ...