eznews.in
In the December quarter of 2024, domestic rubber prices stabilized, yet international prices continued to rise, prompting tyre manufacturers to consider further price hikes in Q4 FY25 to safeguard their profit margins. Industry analysts predict that the ongoing demand coupled with restricted supply will keep natural rubber prices elevated, potentially tripling the market deficit in 2024 due to reduced tappable areas and lower yields. CEAT, a major tyre maker, reported a 46.4% drop in Q3 profits, attributing this to soaring raw material costs, and plans additional price increases across various segments. Experts highlight that global supply chain disruptions are exacerbating the volatility of raw material prices, although initiatives like INROAD aim to enhance local rubber production. Credit rating agency ICRA forecasts a moderation in domestic tyre volume growth to 4-6% in FY2025, with revenues expected to rise by 5-7%, but margins may decline by 200-300 basis points due to high rubber and crude prices. 
Published: Jan 21 2025, 9 ameznews.inA recent survey by Twid, a prominent rewards-based payment network, reveals that e-commerce is the preferred method for redeeming rewards, with 90% of users opting for online shopping. The survey, which included over 1,200 participants—61% of whom were millennials—found that 66% of respondents believe rewards programs significantly influence their purchasing decisions. Key preferences highlighted include earning points for discounts (80%) and cashback offers (66%), with 65% of consumers seeking greater variety in redemption options. Additionally, over 75% expressed a desire for a unified rewards platform to consolidate points from various sources. Rishi Batra, COO of Twid, noted the importance of delivering instant rewards, which their Pay With Rewards solution aims to achieve by integrating rewards at checkout. Twid's network, which has access to a points pool valued at $2.2 billion, collaborates with major brands and merchants across India, following a successful $12 million Series-A funding round led by Rakuten Capital and Google.
Published: Jan 21 2025, 2 pmeznews.inHatsun Agro Product Limited (HAP), based in Chennai, has acquired Bhuvaneshwar's Milk Mantra Dairy Pvt Ltd for ₹233 crore, marking its first dairy acquisition in a decade. This strategic move aims to penetrate Eastern markets, particularly Odisha, where Milk Mantra, known for its 'Milky Moo' brand, reported revenues of ₹276 crore for 2023-24. Following the acquisition, Milk Mantra will become a wholly-owned subsidiary of HAP, enhancing the company's presence in the Eastern India dairy sector and complementing its existing operations. HAP's Chairman, RG Chandramogan, noted that this acquisition aligns with the company's goal of expanding into new geographical areas, potentially tapping into markets in North Andhra Pradesh and West Bengal. The Milky Moo brand will join HAP's portfolio, which includes established brands like Arun, IBACO, Hatsun, and Arokya. At the time of reporting, HAP's shares were trading at ₹954.90 on the NSE.
Published: Jan 21 2025, 1 pmeznews.inIndia's electric bus sector is experiencing significant growth, with public transport authorities ordering over 20,000 e-buses, bolstered by government initiatives and enhanced manufacturing capabilities, according to India Ratings and Research (Ind-Ra). As of December 2024, more than 10,000 e-buses have been deployed, thanks to programs like FAME I and II and PM-eBus Sewa, which collectively allocate ₹282.16 billion. However, timely payments from public transport authorities remain a critical challenge. The proposed ₹3,435 crore Payment Security Fund aims to ensure financial sustainability for e-bus projects, while mechanisms like the Payment Security Mechanism (PSM) are expected to improve project bankability. Private sector adoption, particularly through leasing models, could further stimulate demand, helping operators manage high upfront costs. Expanding heavy-duty public charging infrastructure is also essential for operational flexibility, as the sector prepares for increased production and deployment in the coming years.
Published: Jan 21 2025, 1 pmeznews.inThe Indian government has extended its duty-free import policy for tur (arhar/red gram) until March 31, 2026, as part of efforts to stabilize prices and enhance domestic availability. The Directorate General of Foreign Trade announced this extension, which was initially set to expire in March 2025. Current estimates indicate tur production will reach approximately 35.02 lakh tonnes, a 2.5% increase from last year's 34.17 lakh tonnes. As harvesting progresses in key states like Karnataka and Maharashtra, mandi prices have fallen below the minimum support price (MSP) of ₹7,550 per quintal for the kharif 2024 season. The government is also monitoring the prices of other pulses, with expectations of good production for chana and masur due to favorable conditions. Recent measures, including the sale of various dals under the Bharat brand, have successfully reduced the Consumer Price Index (CPI) for pulses inflation from 19.54% in January 2024 to 3.83% in December 2024.
Published: Jan 21 2025, 10 ameznews.inInfrastructure firm PNC Infratech has secured in-principle approvals from the National Highways Authority of India (NHAI) to transfer its 100% stake in two subsidiaries involved in the Bundelkhand and Khajuraho road projects to the KKR-backed Highways Infrastructure Trust. This development positions the PNC-KKR deal for closure by the end of March 2025, as PNC works to meet the necessary conditions. Key conditions precedent (CPs) include obtaining change in control approvals from highway authorities and no objection certificates (NOCs) from project lenders. PNC has received approvals for eight of the twelve highway assets, with two more expected by January 2025. The company anticipates completing the transactions for ten assets by the end of the financial year, representing 85% of the deal's total value, which is pegged at ₹9,006 crore. The remaining two assets are expected to close by the first half of FY26.
Published: Jan 21 2025, 9 ameznews.inKarnataka is set to host the sixth edition of its international millets festival in Bengaluru from January 23, showcasing over 300 processors and manufacturers of millet-based products. Agriculture Minister N Cheluvarayaswamy announced the event, which will feature a symposium titled “Transformation of Agrifood Systems through Agri-Ecology: A Global Perspective.” This symposium, in collaboration with international agencies like GIZ Germany and FiBL Switzerland, will see participation from experts across ten countries, including Germany, Spain, and Australia. Since its inception in 2017, the festival has highlighted Karnataka's status as a significant producer of nutri cereals, with millets cultivated across 18.37 lakh hectares in the state. Major varieties include ragi, jowar, and bajra, while minor millets such as fox, kodo, and proso millets are also grown, reflecting the region's agricultural diversity and commitment to promoting sustainable food systems.
Published: Jan 21 2025, 9 ameznews.inFarmers in Kenya's Kisumu County are successfully cultivating basmati rice, posing a challenge to the Indian subcontinent's traditional dominance in the market. While they harvest only 20 bags of 25 kg each of basmati compared to 40 bags of the IR27 variety, they benefit from lower cultivation costs, receiving 70 Kenyan shillings per bag. This shift is supported by local cooperatives and follows Kenya's collaboration with research scientists to combat counterfeit basmati rice. Meanwhile, Sri Lanka has developed a new red basmati rice variety, enhancing its health properties, while Egypt and Thailand are also entering the basmati market, with Egypt aiming to export to Europe and Thailand targeting Saudi Arabia. Experts suggest that India must expedite its international registration process to protect its basmati rice brand, which has seen exports valued at $3.38 billion this fiscal year alone.
Published: Jan 21 2025, 8 ameznews.inIn a surprising statement during his inaugural address on January 20, 2025, U.S. President Donald Trump announced plans to reclaim control of the Panama Canal, asserting that the original treaty's intent had been "totally violated." While Trump did not elaborate on the specifics of this controversial claim, his remarks signal a potential shift in U.S. foreign policy regarding the strategic waterway, which has been under Panamanian control since the end of the U.S. administration in 1999. The announcement has raised eyebrows among international observers, who are keen to understand the implications of such a move on U.S.-Panama relations and global trade routes. The Panama Canal remains a critical conduit for maritime traffic, and any attempt to alter its governance could have significant geopolitical repercussions.
Published: Jan 20 2025, 11 pmeznews.inThe National Company Law Tribunal (NCLT) has approved the liquidation of budget airline Go First, following unsuccessful attempts to revive its operations. The decision comes after the airline's committee of creditors, which includes major lenders like Bank of Baroda and Central Bank of India, voted unanimously for liquidation last July. Go First, which ceased operations on May 3, 2023, faced significant financial difficulties, exacerbated by ongoing issues with Pratt & Whitney engines that grounded its fleet of 54 aircraft. The airline's assets are estimated at ₹3,000 crore, while its liabilities exceed ₹11,000 crore. The NCLT appointed Dinkar Tiruvannadapuram Venkatasubramanian as the liquidator, relieving the previous resolution professional, Shailendra Ajmera. Additionally, the tribunal declined to allow foreign funding for Go First's arbitration case against Pratt & Whitney in Singapore, emphasizing the need to respect the creditors' decision.
Published: Jan 20 2025, 8 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact