&w=3840&q=100)
Indian govt engaging with China on rare earth magnet issue: Official
The Chinese government in April imposed restrictions, mandating special export licences for seven rare earth elements and related magnets.
"Efforts are on. In fact, when we last approached the Embassy of China , they had also issued visas to our companies, and they are in touch with Chinese authorities, and they are also finding means and ways by which the supply chain does not get impacted. So efforts are on in that direction," the official said.
The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars.
Critical materials include samarium, gadolinium, terbium, dysprosium, and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Foreign Holdings of Treasuries Climbed to a Record High in June
(Bloomberg) -- Foreign investor holdings of Treasuries climbed to a record high in June, showcasing sustained overseas demand for US government debt even as a slump in the dollar stoked concerns about sentiment toward American assets. Foreign holdings totaled $9.13 trillion for June, up $80.2 billion from May, Treasury Department figures showed Friday. For the first half of the year, foreign holdings went up by $508.1 billion. That was during a period in which one benchmark gauge of the dollar tumbled by almost 11%, the most since 1973. Britain and Belgium saw the biggest gains in holdings, while India — currently embroiled in a trade battle with the Trump administration — and Ireland posted declines. China's stockpile was little changed. Holdings are affected by net sales or purchases along with shifts in valuation. The Bloomberg US Treasury index advanced in June, after a selloff the previous month. Japan, the biggest holder of Treasuries, saw a $12.6 billion rise in its holdings, to $1.15 trillion, while China's stockpile — now the third larges, behind the UK — ticked up $100 million $756.4 billion. Belgium, whose holdings include Chinese custodial accounts according to market analysts, saw its stockpile go up by $17.9 billion, to $433.4 billion. Britain's holdings jumped by $48.7 billion, the most since March 2023, to $858.1 billion. India's total dropped by $7.9 billion, to $227.4 billion. Overseas holdings of Treasuries have been in focus against a backdrop of concern about foreign demand after President Donald Trump slapped tariff increases on the rest of the world. Foreign funds and governments hold over 30% of US Treasuries outstanding. More stories like this are available on
Time of India
2 hours ago
- Time of India
Angry Chinese media accuses 'America of turning chip trade into spying game' as reports claim that US is embedding trackers in Nvidia AI chips
US China Trade War China's state-run media outlet has Xinhua reportedly accused the United States of acting like a "surveillance empire" by allegedly installing location trackers in advanced chip shipments to detect diversions to China. In a commentary, titled "America turns chip trade into a surveillance game," Xinhua accused America of using AI chips for spying. The Xinhua editorial follows a recent Reuters report that U.S. authorities have secretly used tracking devices to monitor targeted chip shipments. The US has imposed export curbs on advanced chips to China as part of an ongoing competition for technological dominance between the two countries. Xinhua's commentary claimed that the U.S. operates "the world's most sprawling intelligence apparatus" and sees its trading partners as "rivals to be tripped up or taken down." The outlet warned that if U.S. chips are viewed as "Trojan horses for surveillance," customers will seek alternatives. This accusation comes after longstanding claims from the U.S. and its allies that certain Chinese products, like telecommunications equipment and vehicles, could be used for surveillance. In 2022, the U.S. banned the sale of new telecommunications equipment from several Chinese companies, including Huawei, due to national security concerns, and has since increased scrutiny on China-made cars and trucks. How America is embedding trackers in AI chips by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The 5 Books Warren Buffett Recommends You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo According to the Reuters report, the US authorities have secretly placed location tracking devices in targeted shipments of advanced chips they see as being at high risk of illegal diversion to China. The measures reportedly aim to detect AI chips being diverted to destinations which are under US export restrictions, and apply only to select shipments under investigation. Location trackers are a decades-old investigative tool said to be used by US law enforcement agencies to track products subject to export restrictions, such as airplane parts. They have reportedly been used to combat the illegal diversion of semiconductors in recent years. In a separate development, China's cyberspace watchdog recently asked U.S. chipmaker Nvidia to explain if its H20 chips had any security risks, a move that followed warnings to domestic tech companies about their use of these chips. China tells local companies not to use Nvidia's H20 chips Meanwhile, Chinese authorities have reportedly urged local companies to avoid using Nvidia's H20 chips, particularly for government-related purposes. According to a report in Bloomberg, a range of companies were sent official notices discouraging the use of Nvidia H20, a less-advanced chip, particularly for any government or national security-related work by state enterprises or private companies. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
3 hours ago
- Mint
Marfrig Benefits From BRF as Chicken Cushions US Cattle Squeeze
Marfrig Global Foods SA is benefiting from BRF SA as the poultry and processed-food company continues to reap profits from strong global demand, helping to weather the impact of a severe cattle shortage in the US. Marfrig's operating earnings fell less than expected in the second quarter, while BRF also beat analysts estimates. Marfrig's shares rose as much as 4% on Friday, while BRF gained as much as 5%. The results are the first since shareholders in both Brazilian companies approved Marfrig's proposal to buy the BRF shares it doesn't already own. While the deal is still pending antitrust approval, Marfrig expects it to close by September, Chief Financial Officer Tang David said in a conference with journalists on Thursday. Marfrig, which controls US beef producer National Beef Inc., is among the companies being squeezed by the worst cattle shortage in decades. Producers — including larger rivals JBS NV and Tyson Foods Inc. — are being forced to pay record-high prices for slaughter-weight animals, and they're struggling to pass those costs on to consumers. Booming demand for chicken and low bird feed costs have so far helped Marfrig cushion the impact, even as trade bans following a bird flu outbreak in May dented profits in the second quarter. 'BRF reported a better-than-expected quarter, a positive surprise despite the negative impact of Chinese and EU export restrictions on Brazilian chicken,' XP Inc. analysts including Leonardo Alencar said in a note to clients. 'The prospect of lower grain prices, coupled with solid demand, continues, with a margin surplus expected after the trade bans end.' BRF is counting on China and European nations dropping their poultry bans and resuming poultry purchases very soon, Chief Executive Officer Miguel Gularte said during an earnings call on Friday. While chicken supplies in Brazil and other producing nations are expected to grow as much as 2% in the short term, demand worldwide should keep increasing at a faster pace, according to Gularte and BRF Chief Financial Officer Fabio Mariano. Growing income in Brazil and the Middle East and Asia, as well as BRF's move to increase its added-value products portfolio, should also help push prices higher. Marfrig's earnings before items such as interest and taxes fell 11% from a year earlier to 3 billion reais in the three months ended in June. That compares with a 2.12 billion-real average of analyst estimates compiled by Bloomberg. BRF reported adjusted earnings of 2.5 billion reais, topping analyst estimates of 2.39 billion reais. 'This was an extremely challenging quarter,' Gularte told journalists on Thursday, citing the impact of the bird flu outbreak on the company's exports. This article was generated from an automated news agency feed without modifications to text.
