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After Adani, Jindal enters copper biz
JSW Group will invest Rs 2,600 crore in the non-ferrous metals sector by starting copper mines in Jharkhand. This new venture by Sajjan Jindal’s conglomerate follows their entry into the automobile sector. JSW will compete with the likes of Adani, Hindalco, and Vedanta in this field. Initial operations aim for a mining capacity of 3…
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‘US sanctions on Russian crude no threat to supply’
IndianOil chairman Arvinder Singh Sahney stated that recent US sanctions on Russian oil exports will not impact India’s energy security. India diversifies its crude procurement from multiple sources such as the Gulf, Africa, and the Americas. Additionally, new suppliers like Brazil and Guyana are emerging, ensuring supply stability. IndianOil posted a 64% drop in net…
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RBI takes over Aviom Housing Finance board
RBI supersedes Aviom India Housing Finance’s board over governance concerns and payment defaults, following National Housing Bank’s recommendation. Former Punjab National Bank GM Ram Kumar is appointed as administrator, and RBI will seek to appoint him as insolvency resolution professional via NCLT. Audits revealed fraudulent transactions and governance lapses, sparking RBI’s intervention.
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Retail credit cools as demand slumps
Retail credit growth in India decelerated in Q2FY25, significantly impacting affordable housing and low-cost two-wheeler loans. However, higher-value loans experienced an uptick. Personal loan originations and credit card usage saw growth, while overall credit demand hit a two-year low with mixed delinquency trends.
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After a half-century of silence, freelancer claims he took the ‘napalm girl’ photo
A freelance photographer from Vietnam, Nguyen Thanh Nghe, claims he took the famous ‘napalm girl’ photo credited to AP’s Nick Ut. AP is investigating the claim made in the Sundance documentary ‘The Stringer’. Experts question Ut’s ability to take the photo, while Nghe explains why he waited 50 years to assert authorship.
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Belarusian prez’s ‘landslide’ election win draws Putin’s praise, West curbs
Alexander Lukashenko extended his 31-year rule in Belarus after election officials declared him winner with 86.8% of the vote. The EU, the UK, Australia, and New Zealand condemned the elections as a sham and imposed sanctions on Lukashenko’s government. Putin and China’s Xi Jinping congratulated him on his victory.
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William Smith
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