eznews.in
Retail inflation in India has seen a significant decline, reaching a 75-month low of 2.82% in May, primarily driven by a continuous drop in food inflation for six consecutive months. Despite this, core inflation, which excludes food and fuel prices, has risen to 4.2%, reflecting a gradual upward trend. Barclays has revised its CPI inflation forecast for FY25-26 down to 3.5%, citing lower food prices as a key factor, while the Monetary Policy Committee (MPC) maintains a slightly higher estimate of 3.7%. The MPC noted a positive outlook for food supply due to record wheat production and favorable monsoon conditions, although concerns remain regarding weather-related uncertainties and global commodity prices. Meanwhile, SBI has also adjusted its CPI forecast to 3.5%, highlighting persistent core inflation challenges despite overall moderation since late 2024. 
Published: Jun 20 2025, 10 ameznews.inThe ongoing Israel-Iran conflict is impacting the Kochi tea auction market, with Iranian buyers significantly reducing their procurement, leading to a decline in prices for orthodox tea varieties. Traders have noted that concerns over a potential payment crisis amid the conflict are causing buyers to hesitate, resulting in a price drop of ₹6-7 per kg for quality teas in sale 25. Iran, a key market for orthodox teas, typically imports 30-35 million kg annually, primarily from North India. As the war escalates, further declines in orthodox tea prices are anticipated. In contrast, the CTC dust market showed resilience, with good-quality teas seeing price increases of ₹1 to ₹2, and an overall sales percentage of 83% for the offered quantity. Despite some irregularities in medium and plainer teas, demand for CTC leaf remained fair, with exporters and upcountry buyers contributing to sales.
Published: Jun 20 2025, 5 pmeznews.inPraveen Kumar, Managing Director of the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL), announced plans to refinance approximately ₹5,000 crore of high-interest loans from multilateral agencies, primarily the World Bank. This initiative, which began discussions a month ago, aims to reduce interest costs by at least 200 basis points, significantly lowering the financial burden on the Ministry of Railways. DFCCIL is considering refinancing options with government-backed non-banking financial companies (NBFCs) such as the Indian Railways Finance Corporation Ltd (IRFCL), Power Finance Corporation Ltd, and HUDCO Ltd. The refinancing would mark the first instance of multilateral agency loans being restructured post-moratorium. DFCCIL oversees India’s dedicated freight corridors, which span 2,843 km, with the total project cost estimated at ₹1,24,000 crore. The refinancing discussions will also involve the Finance Ministry and multilateral agencies to secure favorable terms.
Published: Jun 20 2025, 5 pmeznews.inPune-based agritech firm Global Florex has partnered with Canada’s Queen’s University to enhance research in climate-resilient agriculture and AI-integrated farming through its innovative Revoponics vertical farming system. The system, developed in India and now housed in Queen’s state-of-the-art Phytotron facility, aims to address global food security challenges. Praveen Sharma, the founder of Global Florex, highlighted the significance of this collaboration, noting that Canada, a major importer of fresh produce, can greatly benefit from sustainable farming solutions amid the closure of several vertical farms in North America due to inefficiencies. Revoponics employs rotating modular towers to optimize light and nutrient distribution while using 95% less water than traditional farming methods, making it suitable for urban settings. Researchers at Queen’s University praised the system's modularity and energy efficiency, emphasizing its potential to integrate with smart farming technologies for future advancements.
Published: Jun 20 2025, 5 pmeznews.inIn a significant development amid escalating tensions in the region, Danish shipping giant Maersk has temporarily halted vessel calls at Haifa Port, Israel, following missile and drone attacks by Iran's Revolutionary Guards on Israeli defense sites. The port, privatized in 2022, is predominantly owned by India's Adani Ports, which holds a 70% stake, while Israel's Gadot Group owns the remaining 30%. Despite the suspension, Maersk reported no further disruptions to its scheduled operations in the area. The conflict has intensified as Israel conducts airstrikes against Iran, aiming to thwart its nuclear ambitions, which Iran denies. The situation remains fluid, with both nations engaged in retaliatory strikes, raising concerns over regional stability and maritime operations.
Published: Jun 20 2025, 4 pmeznews.inHindustan Aeronautics Ltd (HAL) has secured a significant contract to privately manufacture India's Small Satellite Launch Vehicles (SSLV), marking a pivotal moment in the country's efforts to privatize its burgeoning space industry. The Indian National Space Promotion and Authorisation Centre (IN-SPACe) announced that HAL's winning bid was 5.11 billion rupees (approximately $59 million), with a technology transfer phase expected to last two years. This decision follows a competitive bidding process involving three consortiums, including Adani Defence and Bharat Dynamics. HAL's victory allows it to independently build, own, and commercialize SSLV launches, capable of carrying payloads of up to 500kg to low-Earth orbit. The move aligns with Prime Minister Narendra Modi's initiative to expand India's space sector, which currently represents only 2% of the global space economy, aiming for a fivefold increase to $44 billion by 2030. Following the announcement, HAL's shares rose by 1.6%.
Published: Jun 20 2025, 3 pmeznews.inThe ongoing Iran-Israel conflict has so far had a limited impact on global trade, particularly for Indian industries, according to Crisil Ratings. However, prolonged uncertainties could lead to increased freight rates and insurance premiums, affecting export and import sectors. The conflict has already influenced global crude oil markets, with Brent prices rising to $73-76 per barrel, up from an average of $65 during April-May 2025. While this remains below the fiscal 2025 average of $78, any escalation could further spike prices, impacting profitability across various sectors. Upstream oil companies may benefit from higher prices, while downstream refiners could face squeezed margins due to rising input costs. Notably, despite historical tensions, Iran has refrained from fully closing the Strait of Hormuz, as such an action would be economically detrimental and risk severe retaliation, according to Yes Securities.
Published: Jun 20 2025, 2 pmeznews.inSivasubramanian Ramann has officially assumed the role of Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), with a tenure lasting five years or until he reaches the age of 65. Ramann, an officer of the Indian Audit & Accounts Service since 1991, brings extensive experience in public finance and technology to the position. His previous roles include Deputy Comptroller & Auditor General and Chief Technology Officer at the Comptroller and Auditor General of India, as well as leadership positions at the Small Industries Development Bank of India and the Securities and Exchange Board of India. Ramann holds a Bachelor's degree in Economics, an MBA from the University of Delhi, and several professional qualifications, including an M.Sc. in Financial Regulation from the London School of Economics. The government has expressed confidence that his expertise will enhance India's pension system and promote retirement security for citizens.
Published: Jun 20 2025, 2 pmeznews.inContainer Corporation of India (Concor), a subsidiary of Indian Railways, has introduced two new container services linking Rachagunneri in Andhra Pradesh to Pantnagar in Uttarakhand, and Nagalapalle in Telangana to Gandhinagar in Gujarat. Additionally, it has revived services from Andhra Pradesh to Tughlakabad in New Delhi and from Tondiarpet in Chennai to Turbhe in Mumbai. G Gayatri, Area Head - III at Concor, noted that while there are currently no scheduled services, the company plans to operate around two trains per month to each location, transporting 80 to 90 containers per trip based on customer demand. The domestic containers will facilitate the movement of various cargo, including rice and glass, and can be utilized across different terminals without returning to their original destinations. This shift from road to rail is expected to offer customers a cost advantage of 3% to 7%, ultimately enhancing Concor's operational efficiency and reducing logistics costs.
Published: Jun 20 2025, 12 pmeznews.inThe Cotton Association of India (CAI) has projected an increase in closing stocks for the 2024-25 season to 48.34 lakh bales, up from 30.19 lakh bales. Amid rising Minimum Support Prices (MSP), which have been set at ₹7,710 for medium staple and ₹8,110 for long staple cotton, stakeholders are concerned about the impact on the cotton value chain. The CAI has called for equitable solutions, such as a price deficiency payment scheme, to ensure farmers receive fair prices without compromising industry competitiveness. The current market has been bearish, with prices often falling below MSP, prompting the Cotton Corporation of India to purchase over 100 lakh bales at the guaranteed price. Stakeholders, including Suresh Kotak of the Textile Advisory Group, have emphasized the need for adjustments in the MSP structure and CCI sales policy to address these challenges effectively.
Published: Jun 20 2025, 11 am
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact