Sri Lanka is facing a severe crisis after Cyclone Ditwah caused widespread flooding and landslides, resulting in numerous deaths and displacement. India has launched 'Operation Sagar Bandhu' to provide relief. The situation is expected to remain critical with rising river levels and continued rainfall.
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
Containers from a Liberian cargo ship that sank off the Kerala coast have started washing ashore, prompting authorities to urge the public to stay away from them. The ship carried 13 hazardous cargos, including calcium carbide, which reacts with seawater to release highly flammable acetylene gas. The Indian Coast Guard is leading pollution response efforts and monitoring the spread of the oil slick.
JSW Steel Ltd (JSTL) has announced a restructuring that unlocks value from Bhushan Power & Steel Ltd (BPSL) and changes the balance-sheet. JSTL will do a slump sale of 50 per cent stake in BPSL to Japan's JFE Steel in two equal tranches, totalling Rs 15,700 crore in cash.
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
The lawsuit has compensatory and punitive damages against the defendants for the wrongful deaths of four passengers on flight 171, US-based law firm The Lanier Law Firm said in a statement.
According to a situation report issued by the DGS, the oil containment measures have temporarily stabilised the situation, but full risk mitigation will happen only on successful commencement of saturation diving to extract the remaining trapped fuel oil from the vessel, MSC Elsa 3.
So far, most of the injured have been released. Currently, 106 people are being treated in hospitals, and another 149 are being treated in the emergency room.
Indian Navy's carrier battle group, submarines and aviation assets were immediately deployed at sea with full combat readiness in the aftermath of the Pahalgam terror attack, a top Navy official said on Sunday.
The Kerala State Pollution Control Board (KPCB) is on high alert after a Liberian vessel carrying hazardous cargo sank off the Kerala coast. While no calcium carbide containers have washed ashore yet, a thin layer of oil spill has been detected. The KPCB is working to contain the spill and prevent it from reaching the shore, but rough conditions at sea have hampered efforts to spray dispersants. The board is also taking steps to prevent the oil from reaching the Ashtamudi and Vembanad lakes.
The Iran-Israel conflict has further increased global economic uncertainties, impacting world trade, including India's exports, as it is expected to drive up both air and sea freight rates, exporters say. They said that India's exports to Europe and counters like Russia may get impacted due to this war.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
During Operation Sindoor, Indian naval ships, submarines and aircraft were operationally ready and deployed, projecting strength and preparedness to deter any "potential actions from our western adversary" in the maritime domain, Navy chief Admiral Dinesh K Tripathi said on Friday.
Terming as "unfortunate" the killing of two Indian fishermen by gun shots from an Italian ship, Shipping Minister G K Vasan on Saturday said appropriate punishment should be given to the guilty.
American sourcing firms and exporters in China are approaching Indian companies to supply goods to the US as high tariffs imposed by Washington are making it difficult for them to ship directly to America, apex exporters' body FIEO said on Monday. The US has imposed 145 per cent tariffs on Chinese goods entering the American market. For India, the duty is just 10 per cent.
Metreweli, 47, has been promoted from current role as Director General, or 'Q', responsible for technology and innovation in MI6 and has previously held a director-level role at MI5 - the UK's domestic security service.
He had taken charge as the 25th director general of the Indian Coast Guard on July 19 last year.
Pakistan military spokesperson Lieutenant General Ahmad Sharif Chaudhry told a hurriedly called press conference in Islamabad at around 4 am that th Pakistan air force's Nur Khan (Chaklala, Rawalpindi), Murid (Chakwal) and Rafiqui (Shorkot in Jhang district) airbases were targeted.
Observing that prima facie the Director General Shipping acted outside the jurisdiction while imposing ban on the ships insured by a Romanian firm, Bombay high court on Thursday asked why no action was taken against the owner of M V Rak, which sank off Mumbai last year.
'At Keeladi, we have not come across any evidence for organised religion.'
'We have to be prepared for the larger disruption that is likely to take place.'
The Indian Coast Guard (ICG) Ship 'Sajag' was commissioned by National Security Advisor Ajit Doval.
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
Astronauts Sunita Williams and Butch Wilmore, who returned to Earth after spending 286 days in space, will not receive any overtime for their extended stay, despite their spacecraft malfunctioning. NASA rules state astronauts are treated like "any other government employee who takes a business trip." They do receive a $5 per day allowance for "incidentals", which are typically fees and tips for services like porters and hotel staff.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
'I enjoyed my fiery exchanges with Akshay Kumar, who was extremely gracious and generous when the camera was not rolling. I enjoyed locking horns with him in court.'
'If attacks escalate, there is a risk the Suez Canal may be closed.'
Once Sagarmala and golden quadrilateral reach the take-off stage, India could be a big force. I feel that the buoyancy is here to stay, says G S Sahni, director general of shipping.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
India has asked Jordan to provide it with details of the Indian crew members who are on board the hijacked ship MV Victoria because the ship's operators are not cooperating. "The ship managers in Sharjah have been repeatedly requested to provide the contact details of the 10 Indian seafarers on board the MV Victoria, but no response has been received so far," the Directorate General of Shipping said in a statement on Friday.
'This is the first case in which we saw use of Starlink by smugglers.'
The Indian crew members, who were onboard the Ship M V Victoria, which was hijacked on May 17 near the Somalia coast by heavily armed pirates, have been released, the Directorate General of Shipping on Friday said.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
Armed Somalian pirates on Friday released three Indians and 26 other members of the crew on board a hijacked cargo ship after keeping them in captivity for more than one and half months.
A year after their abduction by Somalian pirates, 28 Indian sailors on board two ships have been released and will sail for home, bringing huge relief to their families.
The overnight operation in the Arabian Sea was carried out in coordination with the Gujarat Anti-terrorism Squad and the Narcotics Control Bureau, it said.
The Directorate General of Shipping on Saturday said that contact with the hijacked vessel, MV Delight, had been established and the Indian crew on board was 'safe and in good health'.Iranian ship MV Delight with seven Indian sailors on board was hijacked by Somali pirates on November 18. Delight, which bears a Hong Kong flag, was carrying 38,000 tonnes of wheat and had 18 crew members, apart from the Indian crew, on board when it was hijacked near the Gulf of Eden.
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