eznews.in
The International Air Transport Association (IATA) announced on Monday that global airlines are projected to achieve a profit of $36 billion in 2025, a slight increase from the $32.4 billion reported in 2024. Speaking at IATA's Annual General Meeting in New Delhi, the first in India in 42 years, Director General Willie Walsh emphasized the need to keep airspace free from trade conflicts. He highlighted ongoing supply chain challenges, noting a backlog of 17,000 aircraft and 1,100 planes under ten years old currently in storage. While the anticipated profit is significant, Walsh cautioned that it translates to just $7.20 per passenger per segment, leaving the industry vulnerable to new taxes or regulatory costs. IATA forecasts airline revenues will reach a record $979 billion in 2025. The Indian aviation sector directly employs nearly 370,000 people and contributes $5.6 billion to GDP, with broader impacts raising employment to 7.7 million and GDP to $53.6 billion. The next AGM is set for Brazil in 2026. 
Published: Jun 02 2025, 10 ameznews.inThe Comptroller and Auditor General of India (CAG) is set to broaden the scope of remote and hybrid auditing to enhance efficiency and leverage digital advancements, according to Deputy CAG Anand Mohan Bajaj. Initial successes in auditing GST, stamp duty, and public works have prompted a nationwide rollout, with plans to discuss this at the upcoming State Finance Secretaries Conference in September 2025. The integration of Generative AI and Optical Character Recognition (OCR) aims to improve accuracy in voucher verification, while a new unit dedicated to auditing approximately 1,600 state public sector undertakings (PSUs) is expected to streamline processes. This initiative mirrors the existing structure for Central Public Sector Enterprises. Additionally, CAG is in the process of hiring chartered accountant firms to bolster auditing efforts for central autonomous bodies, a move that has faced criticism from some political figures concerned about the potential impact on the CAG's independence.
Published: Jun 15 2025, 2 pmeznews.inIndia's automotive sector faces potential disruptions due to China's recent export restrictions on rare earth magnets, essential for electric vehicle (EV) production. A report by Crisil Ratings warns that prolonged delays in shipments could hinder EV launches and production, impacting growth momentum. China, which supplies over 80% of India's rare earth magnet imports, has implemented stringent export licensing requirements, causing significant backlogs. As automakers prepare for aggressive EV rollouts, the supply squeeze could lead to deferrals in vehicle production, particularly for models reliant on permanent magnet synchronous motors (PMSMs). In response, the Indian government is exploring alternative suppliers and enhancing domestic production capabilities while seeking predictability in supply chains with China. Commerce Minister Piyush Goyal has termed the situation a "wake-up call," emphasizing the need for India to reduce its dependency on Chinese rare earth materials, which are critical across various industries.
Published: Jun 15 2025, 3 pmeznews.inNepal has commenced the export of 40 MW of electricity to Bangladesh, utilizing an Indian transmission line, following a trilateral agreement signed on October 3, 2024. The export began at midnight on Saturday, with electricity being transmitted via India's 400-kV Muzaffarpur-Baharampur-Bheramara line. Under the terms of the agreement, Nepal will supply electricity from June 15 to November 15, charging Bangladesh 6.4 US cents per unit. This marks a significant step in regional energy cooperation, as last year Nepal had only exported electricity to Bangladesh for a single day as a symbolic gesture. The new arrangement secures a five-year commitment from Bangladesh to import electricity from Nepal, enhancing energy trade in South Asia and fostering closer ties among the three nations.
Published: Jun 15 2025, 12 pmeznews.inThe recently signed India-UK Free Trade Agreement (FTA) is poised to transform trade dynamics, particularly in the agricultural and agrochemical sectors. By streamlining trade systems, the FTA aims to enhance supply chains, reduce regulatory friction, and boost competitiveness. India, which exports approximately $5.5 billion in agrochemicals annually, stands to benefit significantly, especially as the UK’s agrochemical market, valued at $2.8 billion, is largely dominated by multinationals. The agreement could facilitate Indian firms' access to the UK market while allowing British companies to tap into India's vast domestic market. Although concerns about regulatory disparities persist, the FTA opens avenues for mutual recognition agreements to expedite approvals. Furthermore, it positions India as a strategic partner for the UK in the Indo-Pacific, fostering resilience in supply chains and enabling new trilateral partnerships. Overall, the FTA represents a pivotal moment for the global agrochemical industry amid shifting geopolitical landscapes.
Published: Jun 15 2025, 10 ameznews.inIn a significant shift within Indian agriculture, commodity financing is revolutionising how rural farmers access credit, moving away from reliance on informal moneylenders. This short-term, secured loan system allows farmers to use stored commodities as collateral, enabling them to wait for better market prices rather than resorting to distress selling immediately after harvest. With the rise of digital financial inclusion initiatives like the Kisan Credit Card scheme, rural credit is booming, evidenced by a 15% year-on-year growth in agricultural credit as of October 2024. Commodity financing not only provides liquidity but also empowers farmers with greater control over their sales, potentially increasing their income by 20-30%. However, challenges such as awareness and infrastructure remain. As farmers begin to view their crops as financial assets, the potential for a more resilient rural economy grows, underscoring the importance of collaborative efforts to enhance access to this transformative financial tool.
Published: Jun 15 2025, 10 ameznews.inIndia is set to achieve record rice production in the 2025-26 season, with forecasts from the US Department of Agriculture (USDA) estimating output at 151 million tonnes, a 1% increase from the previous year. This rise is attributed to a harvested area of 51 million hectares and a record yield of 4.44 tonnes per hectare. The USDA also projects wheat production to reach 117.5 million tonnes, matching the Indian government's estimates, supported by favourable climatic conditions and increased minimum support prices for farmers. As of June 1, the Food Corporation of India reported record rice stocks of 37.99 million tonnes and wheat stocks at a three-year high of 36.93 million tonnes. However, global rice trade remains sluggish due to weak demand, with expectations for improvement only in the latter half of July. Overall, the upcoming season is marked by abundant harvests across Asia, overshadowing shortfalls in North America and Oceania.
Published: Jun 15 2025, 9 ameznews.inIn ancient India, agriculture was deeply intertwined with celestial cycles, reflecting a profound understanding of the relationship between the Earth and the sky. Farmers relied on the agricultural almanac, developed by sages, which aligned farming practices with the 27 lunar constellations, or _nakshatras_. Each _nakshatra_ dictated optimal times for planting, watering, and harvesting, emphasizing a sacred, cyclical view of time. While modern farming has significantly increased yields, it has also led to soil depletion and ecological damage due to intensive practices and agrochemicals. In contrast, regenerative agriculture, rooted in traditional wisdom, seeks to restore ecological balance by working harmoniously with nature. The Indian agricultural calendar, divided into six seasons, guides farmers in sustainable practices, underscoring the belief that the well-being of farmers is essential for the health of the planet. As we face contemporary environmental challenges, this ancient knowledge may offer vital solutions for sustainable agriculture.
Published: Jun 15 2025, 9 ameznews.inNepal is set to commence the export of 40 MW of electricity to Bangladesh starting at midnight on June 15, 2025, following a trilateral agreement signed with India and Bangladesh on October 3, 2024. The electricity will be transmitted via India's 400-kV Muzaffarpur-Baharampur-Bheramara transmission line. This initiative marks a significant step in regional energy cooperation, as Nepal previously exported electricity to Bangladesh for a single day in November 2024 as a precursor to this agreement. Under the terms, Nepal will charge Bangladesh $6.4 cents per unit of electricity, with the arrangement expected to last for five years. The Nepal Electricity Authority confirmed that the first transmission will take place at midnight, highlighting the growing energy ties between the neighboring countries.
Published: Jun 14 2025, 9 pmeznews.inAs the scarcity of rare earth magnets threatens electric vehicle (EV) production in India, Original Equipment Manufacturers (OEMs) are exploring alternatives. Options include using substitute engineering materials, importing fully assembled motors from China, and developing rare earth magnet-free motors. Sterling Tools Ltd, based in Faridabad, has signed a technology licensing agreement with Advanced Electric Machines to produce these magnet-free motors, aiming to start production by FY27. The current crisis highlights the challenges posed by reliance on critical elements like neodymium and dysprosium, which are subject to rising costs and supply chain issues. Alternatives such as iron nitride and manganese-based compounds are being developed, particularly for cost-sensitive two- and three-wheeler EVs. Industry experts believe that with focused research and government support, India could significantly reduce its dependence on rare earth magnets by 2028-2030, fostering innovation and strategic diversification in the sector.
Published: Jun 14 2025, 6 pmeznews.inInvestigators continued their grim search through the wreckage of an Air India aircraft that crashed near Ahmedabad airport, with the recovery of a crew member's remains marking the third day of efforts. The body was found while attempting to remove the tail section, which had become lodged in a building. As of Saturday, hospital authorities reported receiving approximately 270 bodies, including those of passengers and ground victims, although the exact death toll remains unclear due to ongoing DNA matching. The Gujarat government has yet to officially confirm the number of fatalities. Meanwhile, Tata Group announced a compensation of ₹1 crore for each victim's family, including those on the ground. Congress President Mallikarjun Kharge visited the crash site, urging for accountability and proper compensation while refraining from assigning blame in the wake of the tragedy.
Published: Jun 14 2025, 6 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact