eznews.inThe recent unwinding of OPEC+ production cuts, combined with US sanctions on Russian oil giants Rosneft and Lukoil, is expected to sustain elevated charter rates for very large crude carriers (VLCCs) and Suezmax tankers. A report from maritime consultancy Drewry highlights that the surge in crude tanker stocks this year is driven by rising charter rates, fueled by increased oil inventories from OPEC+ supply. As India and China seek to replace lost Russian oil with imports from the Middle East and Latin America, demand for tankers is set to rise. The Baltic Dirty Tanker Index (BDTI) has surged by 47.2% year-to-date, with VLCC rates exceeding $80,000 per day. The ongoing geopolitical tensions, particularly the Iran-Israel conflict, have further intensified demand for floating storage, with VLCCs used for this purpose increasing by 24% since January. Analysts predict continued growth in tanker stocks, supported by a likely oversupply in the oil market. 
Published: Nov 04 2025, 12 pmeznews.inIndia's steel mills are grappling with significant shortages of metallurgical coke, securing only about 50% of their requirements from domestic suppliers in the first half of 2025. This shortfall has intensified calls from industry leaders, including JSW Steel's chief Jayant Acharya, for the government to ease import restrictions that were implemented in January to bolster local production. The curbs, which were extended in June, limit overseas purchases to 1.4 million tonnes for the latter half of the year, raising concerns among producers about their ability to meet production demands. As the world's second-largest crude steel producer, India's reliance on imports for this critical steelmaking material underscores the challenges facing the sector amid ongoing supply chain issues.
Published: Nov 04 2025, 12 pmeznews.inIndia's AWL Agri Business, formerly Adani Wilmar, is shifting its focus towards the higher-margin packaged foods segment to reduce its dependence on the volatile edible oil market. The company aims to increase the share of packaged foods in its total volume from 20% to 30% over the next five years, according to newly appointed CEO Shrikant Kanhere. This strategic pivot comes as government data reveals that oils and fats inflation reached 18-21% in the September quarter, the highest among food categories, due to persistently high edible oil prices. Competitors like Marico are also diversifying their product lines to meet growing consumer demand for branded staples. Despite a projected 10% revenue growth in the second half of the fiscal year, AWL Agri Business anticipates a significant slowdown from last year's 35% growth, as high prices have led consumers to opt for cheaper alternatives. The company plans to expand its retail reach from 900,000 to 1 million outlets by next year.
Published: Nov 04 2025, 12 pmeznews.inSpiceJet has appointed Sanjay Kumar as Executive Director, effective November 3, 2025, as the airline seeks to enhance its strategic initiatives amid ongoing challenges. Kumar, a seasoned aviation professional with over 30 years of experience, previously served as Chief Strategy and Revenue Officer at IndiGo and has held various senior roles in the industry, including a stint at AirAsia India. In his new role, he will focus on the airline's expansion, operational excellence, and business transformation, reporting directly to Chairman Ajay Singh. Kumar's extensive background in network planning and revenue management is expected to be pivotal as SpiceJet aims to strengthen its position in the competitive aviation market. This marks Kumar's second tenure with SpiceJet, having previously worked as Vice President for planning and marketing from 2001 to 2007.
Published: Nov 04 2025, 12 pmeznews.inAir passengers in India may soon benefit from a proposed 'Look-in option' by the Directorate General of Civil Aviation (DGCA), allowing them to cancel or amend their tickets without incurring additional charges within 48 hours of booking. This initiative aims to address ongoing concerns regarding ticket refunds. The DGCA has also stated that if tickets are purchased through travel agents, the responsibility for refunds will rest with the airlines, which must complete the refund process within 21 working days. Additionally, passengers will not face extra fees for correcting name errors within 24 hours of booking directly through an airline's website. However, this 'Look-in option' will not apply to flights departing within five days for domestic travel and 15 days for international flights. The DGCA is inviting stakeholder feedback on these draft Civil Aviation Requirement (CAR) changes until November 30.
Published: Nov 04 2025, 12 pmeznews.inIndia's ambition to spearhead the clean industrial transition among emerging economies is hindered by significant regulatory challenges, according to a report from the Mission Possible Partnership. Despite having 53 clean-industry projects in development—tying with Australia for the highest in the "new industrial sunbelt"—none have reached a final investment decision this year. The report highlights outdated construction regulations and slow policy changes as barriers to adopting cleaner technologies in the cement sector. Additionally, high financing costs in emerging markets limit the viability of these projects. While some initiatives have secured buyers and partial funding, they are stalled by a lack of clear rules and necessary infrastructure. The report emphasizes the absence of demand-side regulations, such as blending mandates and green procurement rules, which are essential for fostering markets for clean industrial products. Without these enabling policies, India risks falling behind in the global industrial transformation already underway in other regions.
Published: Nov 04 2025, 11 ameznews.inIn a significant move to enhance railway connectivity in Sikkim, the Ministry of Railways has allocated ₹8.48 crore for the Final Location Survey (FLS) of the Melli-Dentam railway line project, as communicated to the Northeast Frontier Railway on October 24. This initiative follows a meeting between Sikkim MP Indra Hang Subba and Union Railway Minister Ashwini Vaishnaw, where the MP emphasized the project's importance for accessibility, tourism, and national security. Additionally, on October 28, the Ministry approved an increase in the frequency of the Dehradun-Tanakpur Express, which will now operate three times a week instead of once. Uttarakhand Chief Minister Pushkar Singh Dhami hailed this decision as a public welfare initiative, aimed at improving connectivity and boosting economic activities in the region. The Central Government's efforts, under Prime Minister Narendra Modi, continue to support Uttarakhand's development trajectory.
Published: Nov 04 2025, 10 ameznews.inA report led by Nobel laureate Joseph Stiglitz highlights alarming levels of global inequality, warning it poses a significant threat to democracy, economic stability, and climate progress. Commissioned by the South African G20 Presidency, the study reveals that India's wealthiest 1% saw their fortunes grow by 62% from 2000 to 2023, while the top 1% globally captured 41% of new wealth, leaving the bottom half with a mere 1%. Although intercountry inequality has decreased due to rising incomes in populous nations like India and China, the report emphasizes that extreme inequality is a choice that can be reversed with political will and global coordination. It proposes establishing an International Panel on Inequality to monitor trends and inform policy. The report also notes that countries with high inequality are significantly more likely to experience democratic decline, with 2.3 billion people currently facing food insecurity.
Published: Nov 04 2025, 10 ameznews.inKKR Global, a prominent private equity firm managing nearly $700 billion in assets, is set to significantly expand its investments in India, targeting private credit, insurance, real estate, and manufacturing. With $9 billion invested over the past five years and a total of $13 billion since 2008, KKR's co-CEO Scott Nuttall emphasized India's potential as the world's fifth-largest economy, predicting that its investment profile will increasingly align with KKR's global strategy. Gaurav Trehan, KKR's Asia Pacific CEO, noted that returns from India have improved dramatically, making it a leading contributor to the firm's private equity and infrastructure funds. KKR plans to invest $90 to $100 billion by 2025, focusing on sectors like healthcare, technology, and manufacturing, particularly in light of the "China Plus One" strategy. The firm also aims to enhance India's corporate bond market, addressing the need for diverse capital sources as the economy grows.
Published: Nov 04 2025, 3 ameznews.inIn a bid to bolster India's export competitiveness amid global uncertainties and the impact of steep US tariffs, Prime Minister Narendra Modi convened a meeting with exporters from key labour-intensive sectors, including garments, leather, and gems and jewellery. The discussions highlighted the challenges faced by these industries, particularly following the imposition of a 50% tariff on Indian goods by the US in August, which has led to a significant decline in exports—down 12% to $5.46 billion in September alone. This tariff escalation has particularly affected textiles and engineering goods, with exports to the US plummeting nearly 37.5% from May to September, resulting in a loss exceeding $3.3 billion in monthly shipment value. Despite these setbacks, India's overall goods exports rose 3.02% year-on-year to $220.12 billion in the first half of FY25, while imports increased by 4.53%.
Published: Nov 03 2025, 9 pm
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