eznews.inAs the High Seas Treaty, formally known as the BBNJ Agreement, is set to take effect on January 17, 2026, India is actively developing a domestic framework to facilitate its ratification and implementation. A national stakeholder consultation, organized by the Ministry of Earth Sciences in collaboration with various research institutes and international partners, gathered experts from diverse fields to evaluate India's readiness. The BBNJ Agreement, adopted in March 2023, aims to conserve marine biodiversity in international waters and has been signed by 145 countries, with 76 ratifications to date. Experts emphasized the Treaty’s potential to enhance global ocean governance, address challenges like climate change and overfishing, and provide a structured approach to managing high seas biodiversity. Recommendations from the consultation will inform India's roadmap ahead of the next Conference of Parties in August 2026, highlighting the importance of integrating science, policy, and law in ocean management. 
Published: Dec 17 2025, 3 pmeznews.inInconsistencies between headquarters' exclusivity commitments and regional execution are causing significant challenges in Asia's burgeoning consumer goods sector, particularly in the Middle East and North Africa (MENA). Industry sources report that these discrepancies have led to unauthorized market entries, compliance lapses, and regulatory confusion, as products from different production hubs enter protected markets despite existing agreements. Analysts highlight that such issues reflect deeper governance misalignments rather than isolated operational errors, exacerbated by a reliance on legacy family-business practices. As Indian FMCG companies expand in the MENA region, the need for robust governance frameworks has become critical, especially for those transitioning from founder-led cultures to institutional models. With investors increasingly demanding unified compliance standards and accountability, the pressure is on for companies to ensure that governance evolves in tandem with their rapid growth, as misalignment poses significant strategic risks.
Published: Dec 17 2025, 12 pmeznews.inThe Indian steel industry is grappling with multiple challenges as export growth slows and domestic prices decline. A report from Elara Capital indicates that while steel exports surged by 83% in October to 0.73 million tonnes—driven by European buyers stockpiling ahead of a new carbon tax—new orders for December have dwindled, with only limited demand for coated steel products. Despite a 6% increase in production to approximately 13.6 million tonnes in October, falling prices, particularly for hot-rolled coil (HRC), which dropped to ₹46,750 per tonne, are squeezing profit margins. Rising raw material costs, notably a 7% increase in coking coal prices, further complicate the situation. Global trends, including a 6% decline in worldwide steel production and a significant drop in China's output, add to the pressure. Although India has reduced imports by 52% in October through new duties, the combination of weak domestic demand and reduced European orders is expected to challenge Indian steelmakers in the near term.
Published: Dec 17 2025, 12 pmeznews.inThe Kerala government is set to inaugurate the second phase of the Vizhinjam International Seaport development in mid-January, according to Port Minister V.N. Vasavan. This phase, along with the subsequent third and fourth phases, will see an investment of ₹9,700 crore from Adani Vizhinjam Port Pvt. Ltd. (AVPPL). The expansion includes increasing the existing 800-meter berth to 2,000 meters and extending the breakwater by 920 meters. Since launching commercial operations on December 3, 2024, the port has handled 13.25 lakh TEUs and 636 ships, contributing approximately ₹97 crore in taxes. Notably, Vizhinjam has become the first Indian port to accommodate over 40 ultra-large container ships. Additionally, plans are underway to enhance road access from NH-66 and link the port to the rail network via an underground tunnel, while discussions for developing cruise tourism infrastructure are also in progress.
Published: Dec 17 2025, 11 ameznews.inIndia and Ethiopia have formalized their historical ties into a strategic partnership, as Prime Minister Narendra Modi engaged in extensive discussions with Ethiopian Prime Minister Abiy Ahmed Ali on Tuesday. Modi, on his first bilateral visit to Ethiopia, emphasized the significance of this partnership in enhancing cooperation across various sectors, including economy, technology, and healthcare. The leaders signed eight agreements, including customs cooperation and increased scholarships for Ethiopian students in India. Modi expressed gratitude for Ethiopia's support in India's fight against terrorism and highlighted the countries' shared commitment to peace and development. Ali praised India's role in prioritizing Africa's needs and noted Ethiopia's strong economic growth, with India being a leading source of foreign direct investment. The visit included cultural exchanges, such as a traditional coffee ceremony, and Modi received Ethiopia's highest honor, the Great Honour Nishan. He is set to address the Ethiopian Parliament on the value of their partnership for the Global South.
Published: Dec 17 2025, 9 ameznews.inPresident Donald Trump announced a blockade of all "sanctioned oil tankers" entering Venezuela, intensifying pressure on President Nicolás Maduro's regime. This move follows the U.S. military's recent seizure of an oil tanker off Venezuela's coast and a significant military buildup in the region. Trump accused Venezuela of using oil revenues to fund drug trafficking and vowed to maintain military presence until the country returns U.S. assets. In response, Venezuela condemned the blockade as a violation of international law and a threat to free navigation, asserting that Trump's demands for its oil and resources are irrational. The U.S. has conducted military strikes on vessels in international waters, claiming success in curbing drug trafficking, while bipartisan scrutiny of the campaign grows. Venezuela, heavily reliant on oil exports, has resorted to unflagged tankers to navigate U.S. sanctions, with most of its oil going to China.
Published: Dec 17 2025, 9 ameznews.inHaryana is embarking on an ambitious initiative to register 1.38 crore farmers under the Farmer Registry (AgriStack) using Aadhaar OTP-based authentication, which will generate unique Farm IDs aimed at enhancing the targeted delivery of benefits. Financial Commissioner Sumita Misra has directed deputy commissioners to organize village-level camps in collaboration with revenue and agriculture departments to expedite the process. During a recent video conference, she emphasized the importance of maximizing farmer participation and outreach in rural areas, with a completion target set for February 2026. Misra described the initiative as transformational, highlighting that accurate data collection will bolster digital land and crop records, improve the targeting of agricultural schemes, and ensure efficient benefit delivery. The registration process is set to commence in three districts—Ambala, Panchkula, and Faridabad—starting Wednesday.
Published: Dec 17 2025, 9 ameznews.inThe Pension Fund Regulatory and Development Authority (PFRDA) has announced a significant change to the National Pension System (NPS) withdrawal rules, now allowing subscribers to make up to four partial withdrawals before retirement, an increase from the previous limit of three. This adjustment permits withdrawals for various purposes, including higher education and marriage, with each withdrawal capped at 25% of the subscriber's contributions. The new guidelines stipulate that withdrawals can occur with a minimum interval of four years before the age of 60 or retirement, and every three years thereafter. Additionally, subscribers can now take loans against their NPS accounts for similar purposes, with lenders able to place a lien on the account. The changes aim to provide greater financial flexibility for subscribers while maintaining the integrity of the pension system.
Published: Dec 17 2025, 9 ameznews.inThe Indian government has launched a ₹7,280 crore scheme to promote the manufacturing of Sintered Rare Earth Permanent Magnets (REPM), aiming to reduce reliance on China and secure supply chains for electric vehicles, electronics, aerospace, and green energy. Approved by the Union Cabinet, the initiative seeks to establish a domestic value chain for converting rare earth oxides into neodymium-iron-boron (NdFeB), crucial for India's industrial growth. The Heavy Industries Ministry announced plans to set up 6,000 MTPA of integrated manufacturing facilities, with beneficiaries receiving sales-linked incentives and capital subsidies. A transparent bidding process will allocate production capacity to five applicants, with a minimum of 600 MTPA and a maximum of 1,200 MTPA per beneficiary. The scheme spans seven years, including a two-year gestation period, and aims to address India's current dependence on imports for sintered NdFeB REPMs, despite having significant rare earth reserves.
Published: Dec 17 2025, 8 ameznews.inThe Pension Fund Regulatory and Development Authority (PFRDA) has introduced significant amendments to the National Pension System (NPS) to enhance flexibility for non-government subscribers. Under the new rules, non-government subscribers can withdraw up to 80% of their accumulated funds exceeding ₹12 lakhs post-retirement, a notable increase from the previous 60% limit. For those with pension wealth of ₹8 lakhs or less, full withdrawal is permitted after 15 years of contributions or upon reaching 60 years of age. The revised guidelines also allow subscribers to remain invested until age 85 and stipulate that in the event of a subscriber's death before annuity purchase, the accumulated wealth will be transferred to nominees. Additionally, provisions for premature exit and withdrawal due to citizenship renunciation have been clarified, ensuring that at least 80% of the corpus is used for annuity in such cases.
Published: Dec 16 2025, 10 pm
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