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Amsa signals long steel shutdown risk as support falls short
- ArcelorMittal South Africa (Amsa) is at risk of shutting down its long steel business by 30 September 2025 if no viable solution is found to address structural impediments affecting the division.
- Limited progress has been made in resolving these impediments, with high imports and Transnet's poor rail performance posing challenges for Amsa.
- Amsa postponed the closure of its long steel business after securing financial support but stated that further assistance is needed for continued operations beyond the deferral period.
- Trading conditions remain challenging for Amsa, with lower sales volumes, decreased prices, and various industry challenges prompting calls for government support.
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Bloomberg Quint
5h
105
Image Credit: Bloomberg Quint
AstraZeneca Pharma Gets CDSCO Nod For Import, Sale Of Bladder Cancer Drug
- AstraZeneca Pharma India Ltd. has received approval from the Central Drugs Standard Control Organisation to import and sell Durvalumab Solution for the treatment of adult patients with muscle invasive bladder cancer.
- Durvalumab Solution will be used in combination with gemcitabine and cisplatin as neoadjuvant treatment, followed by single agent IMFINZI as adjuvant treatment following radical cystectomy.
- The permission granted by CDSCO allows for the marketing of Durvalumab Solution in India, subject to related statutory approvals.
- In addition to the bladder cancer drug, AstraZeneca had previously received approval to import and sell sodium zirconium cyclosilicate powder for oral suspension for treating hyperkalemia in adults.
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HinduBusinessLine
5h
39
Image Credit: HinduBusinessLine
Sun Pharma, Incyte settle Leqselvi lawsuit; launches alopecia drug in US
- Sun Pharma and Incyte have reached a settlement in the Leqselvi lawsuit in the US.
- This settlement includes mutual release of claims and a non-exclusive license for certain patents related to alopecia treatment.
- Leqselvi, indicated for severe alopecia areata, has been launched in the US by Sun Pharma.
- The drug showed promising results in trials, with one-third of patients regaining almost all hair by Week 24.
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HinduBusinessLine
5h
318
Image Credit: HinduBusinessLine
GAIL inks long term LNG sales & purchase agreement with Vitol Asia
- GAIL has entered into a long-term LNG sales and purchase agreement with Vitol Asia, where Vitol will supply LNG from its global portfolio to GAIL.
- The agreement follows a binding term sheet signed between the two companies in January of the previous year.
- India, the world's fourth-largest LNG importer in 2024, has a growing demand for LNG, with plans to increase the share of natural gas in its energy mix from 6% to 15% by 2030.
- India's LNG regasification capacity has nearly doubled since 2014, supporting the country's vision for increased natural gas consumption.
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HinduBusinessLine
5h
108
Image Credit: HinduBusinessLine
Temasek’s India portfolio rises 35% to $50 bn in FY25
- Temasek's India portfolio has surged by 35% to reach $50 billion in the fiscal year 2025.
- The growth in the portfolio includes investments in companies such as Haldiram Snacks Foods, VFS Global, Kotak Mahindra, Rebel Foods, and a stake in Bharti Airtel through Sintel.
- Temasek plans to continue investing at a rate of over $3 billion annually and has divested over $2 billion in India last fiscal year.
- The firm is seeking opportunities in AI and supply chains in India and has been successful in gaining value from family-owned businesses.
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HinduBusinessLine
5h
55
Image Credit: HinduBusinessLine
The tide turns for Machilipatnam as ancient port is set for big revival
- Around 48% of the construction of a new Greenfield port at Manginapudi in Machilipatnam has been completed, with expectations to commence operations by the end of 2026.
- The project involves dredging 56 million cubic meters of sand, constructing a 2.5-kilometer long breakwater, and deploying tetrapods to shield the port from the sea's power.
- After facing obstacles since 2007, including contracts with Maytas and Navayuga, a Special Purpose Vehicle was formed in 2020 to develop the port under the Landlord Model.
- The project's first phase cost is ₹5,155 crore, with plans to expand to 16 berths, offering a capacity of 36 million tonnes per annum, benefitting both Andhra Pradesh and Telangana.
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HinduBusinessLine
5h
82
Image Credit: HinduBusinessLine
Steel Ministry probes ₹4,000-cr non-BIS steel trade; Japan, Korea, China under lens
- The Steel Ministry is investigating a ₹4,000-crore non-BIS steel trade involving countries like Japan, Korea, and China.
- Importers were found making minor alterations in steel grades to bypass quality norms and import cheaper or substandard steel.
- In FY24, 22% of non-BIS steel import applications were rejected, with the numbers rising to 25% in the first six months of FY25 due to heightened vigilance.
- The Ministry relaxed Quality Control regulations temporarily for MSMEs with pre-placed orders, allowing exemptions if steel products are loaded/shipped before July 15, 2025.
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HinduBusinessLine
5h
58
Image Credit: HinduBusinessLine
Ola Electric rejigs strategy as losses mount, to deploy rare-earth-free motors
- Ola Electric plans to deploy rare earth-free motors in its vehicles from the next quarter to mitigate supply chain risks stemming from China's rare earth export cuts in response to US tariffs.
- The company accelerated the development of these motors, aiming to ensure business continuity with cost savings and performance parity compared to rare earth magnets.
- Despite financial challenges in the previous quarter, Ola Electric is focusing on profitability and operational improvements.
- The company anticipates selling between 3.25-3.75 lakh vehicles in FY26, foreseeing improved margins with new product launches and government support.
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HinduBusinessLine
5h
304
Image Credit: HinduBusinessLine
A BIMSTEC sustainable maritime transport centre to be set up in Mumbai soon: Sarbananda Sonowal
- A BIMSTEC Sustainable Maritime Transport Centre will be established in Mumbai under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT) at the Maritime Training Institute in Powai.
- Union Minister Sarbananda Sonowal announced this development during the BIMSTEC Ports Conclave organized by the Visakhapatnam Port Authority.
- The centre aims to operationalize the BIMSTEC Agreement on Maritime Transport Cooperation, harmonize maritime policies, advance digital and green transformation, and enhance the skills of the maritime workforce.
- The initiative is expected to boost trade, connectivity, and position the Bay of Bengal as a sustainable hub of regional and global trade, fostering collaboration and innovation.
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HinduBusinessLine
5h
200
Image Credit: HinduBusinessLine
Centre begins formulating a comprehensive national framework for GCCs
- The government is focusing on employment metrics, with a decrease in youth unemployment from 17.8% to 10.2% compared to global average of 13.3%.
- The ₹1 lakh crore Employment Linked Incentive (ELI) scheme is aimed at generating 3.5 crore jobs, including for 1.9 crore first-timers, starting from August 1.
- A comprehensive national framework for Global Capability Centers (GCCs) is being formulated to enhance growth and expand their base as India shifts to an innovation-driven economy.
- The government officials highlighted India's infrastructure, talent strength, regulatory environment, and readiness to address industry concerns to position India as a global GCC hub through proposed policies.
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HinduBusinessLine
5h
214
Image Credit: HinduBusinessLine
IIMB unveils four-year BSc (Hons) programmes in economics, data science starting 2026
- IIMB is planning to introduce four-year BSc (Hons) programmes in economics and data science starting in August 2026 at the Jigani campus, emphasizing nurturing critical thinkers and problem solvers.
- The programmes aim to align with the National Education Policy (NEP), integrating various subjects such as economics, data science, communication, ethics, and philosophy with practical orientation, including internships and an international exchange term.
- Applications for the inaugural cohort will open in September 2025 with an initial intake of 80 students, reaching a target of 640 students by 2031. The programme includes structured placement support and financial aid for deserving students.
- IIMB's move is part of a broader vision to enhance India's undergraduate education landscape, with plans to offer additional UG programmes in Sustainability and Behavioural Sciences in the future.
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HinduBusinessLine
6h
263
Image Credit: HinduBusinessLine
Apollo Home Healthcare launches palliative care at home in Delhi
- Apollo Home Healthcare has launched palliative care at home in Delhi and will extend the initiative to Apollo Athenia, a cancer care center for women in the city.
- Palliative care focuses on providing relief from symptoms and stress of serious illnesses to improve the quality of life for patients. There is a growing need for accessible palliative care services in India.
- The program aims to provide pain management, symptom relief, emotional support, and expert care plans for patients with terminal illnesses through home visits and virtual consultations.
- Apollo plans to expand its home-based palliative care model to major cities in India, including tier-2 locations, to improve patient care and quality of life.
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Baystreet
6h
249
Image Credit: Baystreet
TSX Starts off Week with Gains
- Equities in Canada’s largest market started the week with gains, driven by technology and mining shares, despite losses in energy and healthcare sectors. Investor risk appetite decreased following U.S. President Donald Trump's announcement of 30% tariffs on imports from the EU and Mexico.
- The TSX Composite Index rose by 83.64 points to open at 27,106.89, while the Canadian dollar decreased slightly to 73.04 cents U.S. Trump's tariff threats impacted trading sentiments.
- Under the cloud of tariffs, the TSX Venture Exchange gained 4.33 points, with varying performances across TSX subgroups. The macroeconomic front saw a modest 0.1% increase in wholesale trade for May, reaching $84.2 billion.
- On Wall Street, stocks remained relatively stable despite Trump's tariff warnings. Investors are cautious but optimistic that the tariffs will be moderated through negotiations. Eyes are on upcoming earnings reports, inflation data, and treasury yields.
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Baystreet
6h
273
Image Credit: Baystreet
Stocks Flat as Investors Bet Tariffs will be Lowered
- Stocks remained steady as President Trump threatened high tariffs on more countries, with investors expecting negotiations to reduce the duties.
- The Dow Jones Industrials started slightly lower, the S&P 500 dropped, and the NASDAQ Composite saw a small increase.
- Investors are closely watching updates on tariffs, with the U.S. planning 30% tariffs on the EU and Mexico from Aug. 1, while negotiations for lower rates are ongoing.
- This week brings inflation readings, second-quarter earnings reports from major banks like JPMorgan Chase, and fluctuations in treasury prices and oil and gold rates.
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HinduBusinessLine
6h
26
Image Credit: HinduBusinessLine
Wipro Consumer’s Kumar Chander to helm next growth phase as Vineet Agrawal retires
- Vineet Agrawal, who joined Wipro in 1985 and led Wipro Consumer Care & Lighting for nearly two decades, is set to retire.
- Under Vineet's leadership, Wipro Consumer Care expanded globally, completed 15 strategic acquisitions, and grew Santoor into one of India's top soap brands.
- Kumar Chander will take over as the new head of Wipro Consumer Care & Lighting, expressing commitment to continue building on the foundation laid by Vineet.
- Kumar Chander will work closely with Vineet for a smooth transition beginning October 2025, with Wipro Enterprises' headquarters as his base.
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