"Peaceful Purposes": China Sides With 'Nuclear Iran', Slams Trump-Netanyahu's 'Bullying'
/ Jul 17, 2025, 01:01AM IST
China vowed full support to Iran's sovereignty and right to enrich uranium for peaceful use. At the SCO summit, Beijing blasted U.S. 'bullying' and pledged deeper military-economic ties. The move cements Iran's alignment with China post-Israel conflict and U.S. strikes.
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India.com
2 hours ago
- India.com
Even After U.S. Plea, Saudi Refused Defense Aid To Israel; Prince Salman Rejected Trump's Request Against Iran
Riyadh/Washington: A previously undisclosed standoff unfolded behind the scenes of the 12-day Iran-Israel war in June, as Saudi Arabia flatly refused a direct request from the United States to transfer its powerful American-made THAAD air defense systems to Israel, according to two senior U.S. defense officials cited by the Middle East Eye . At the height of the conflict, Iran had unleashed waves of advanced ballistic missiles, and Israel's stockpile of interceptor missiles, especially the high-altitude THAADs, was running dangerously low. Faced with the rapid depletion of its own interceptors like the Arrow and Patriot, the U.S. administration urgently reached out to Riyadh. But the response it got was immediate and firm. According to one official familiar with the internal deliberations, 'We were asking everyone to contribute. When that failed, we tried to negotiate. But this was not just about one country.' American officials tried to convince Saudi Arabia that Tehran was not only a threat to Israel; it posed a looming danger to Saudi national security as well. But the Saudis did not budge. Despite being fully capable of aiding Israel, the kingdom chose to prioritise its own defense. Saudi Arabia had already activated its THAAD systems in response to threats from Houthi rebels, with some units even deployed to guard the holy cities of Mecca and Medina. At one point during the war, Israeli defense officials were forced to let some incoming Iranian missiles fall on uninhabited areas as they rationed what little interceptor stock remained. U.S. think tanks had already flagged the issue in classified memos, highlighting Israel's supply of Arrow and Patriot systems was shrinking by the hour. Meanwhile, on July 3, nine days after a ceasefire between Iran and Israel, Saudi Arabia inaugurated a newly acquired THAAD battery from the United States, a move closely watched in Washington. Concerns were spiraling inside the Pentagon. The Guardian reported that the United States itself was down to just 25% of its Patriot interceptor reserves, and Pentagon planners were alarmed about whether America could even sustain its own global military posture if the Iran-Israel war escalated further. One American official told the Middle East Eye that internal projections showed a 'catastrophic depletion' of interceptors was imminent. In a desperate move, the United States tested its Standard Missile-3 (SM-3) from a Navy destroyer of the Arleigh Burke class to reinforce Israeli defenses. The Telegraph confirmed that Iran had already scored direct hits on five key Israeli military bases. The final twist came when The Wall Street Journal revealed that American officials had floated the idea of redirecting Saudi THAAD systems to Tel Aviv, but Crown Prince Mohammed bin Salman rejected it outright. Washington then turned to the UAE with a similar request. Whether the Emirates complied remains unknown. No official confirmation has surfaced. The silence speaks volumes. As it stands, this behind-the-curtain episode exposes not only the limits of U.S. influence in the Gulf, but also the extent to which Saudi Arabia has begun charting its own course, even when it means defying its closest Western ally in the middle of a regional war.
Time of India
4 hours ago
- Time of India
Lodha Developers to launch Rs 17,000 crore worth housing projects by March next year
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Realty firm Lodha Developers Ltd remains bullish on growth potential in housing market as it plans to launch Rs 17,000 crore worth residential projects by March next to meet consumers an interview with PTI, the company's Executive Director ( Finance) Sushil Kumar Modi noted that the high demand for residential properties , being seen post-Covid pandemic, would not only sustain but grow further, driven by the country's economic growth, income tax relief in the Budget and reduction in interest rates on home loans He sounded confident of achieving the target of selling Rs 21,000 crore worth of properties in the current fiscal year, a 19 per cent increase from the preceding year."We remain in track and are thereby remain confident of achieving Rs 21,000 crore of pre-sales guidance for the current fiscal year," Modi said the company has a huge launch pipeline to meet the target."At the beginning of this fiscal, we had estimated launch of Rs 18,000 crore worth projects but with an acquisition of five land parcels in June quarter, we now have clear visibility of launches at about Rs 25,000 crore for the entire 2025-26," Modi company has already launched Rs 8,000 crore worth of housing projects in the first quarter, which means that Rs 17,000 crore worth of homes will be offered for sales in the remaining three quarters of this fiscal."Strong launch pipeline combined with interest rate reduction on home loans and income tax relief will provide significant amount of tailwainds for our business and help achieve the pre-sales target," Modi Lodha Developers clocked a 10 per cent growth in its sales bookings during April-June period of this fiscal year to Rs 4,450 Indian real estate , Modi mentioned that the launches and sales are skewed towards the second half of the fiscal year because of festival season, which generates an additional on the financial front, Lodha Developers on Saturday reported a 42 per cent increase in consolidated net profit to Rs 675.1 crore for the first quarter of this fiscal net profit stood at Rs 475.9 crore in the year-ago income rose to Rs 3,624.7 crore in the April-June period of the 2025-26 fiscal year from Rs 2,918.3 crore in the corresponding period of the preceding Developers is one of the leading real estate companies in the the 2024-25 fiscal year, the company posted a net profit of Rs 2,766.6 crore on a total income of Rs 1,4169.8 Developers has a strong presence in the residential markets of Mumbai Metropolitan Region (MMR), Pune and company has delivered 110 million sq ft of real estate and is developing more than 130 million sq ft under its ongoing and planned portfolio.
Time of India
5 hours ago
- Time of India
Suresh Narayanan steps down after leading Nestlé India's revival and expansion
Representative image Suresh Narayanan , who steered Nestlé India through the most challenging "existential" Maggi crisis, will retire on July 31 after a decade at the helm—a satisfied man. That sense of satisfaction stems from leaving the packaged food major in significantly better shape, with revenue growing at 10 per cent CAGR, profit after tax rising nearly six times, and market capitalisation increasing almost fourfold over the past 10 years. Appointed as CMD in 2015, Narayanan is widely credited with resurrecting Maggi—the company's flagship brand—after it was pulled off kitchen shelves due to a regulatory ban. During his tenure, he fired the company's innovation engine with a diversified and future-ready portfolio, rejuvenating it by launching over 150 new products—which now contribute about 7 per cent of sales—and delivering consistent growth, even amid post-COVID volatility in the FMCG sector, stubborn commodity inflation, and a consumption slowdown. 'I am happy to leave behind a culture of respect, courtesy, dignity, and trust, which is all-pervasive, has helped us through good times and bad, and the extent of diversity we've been able to provide. It is the strength of teams, brands, and conviction that has made us stand up to the odds and deliver 10 years of consistent performance. We were once seen as an urban company with a limited portfolio, but through a penetration-led volume growth strategy rolled out in 2015, we now have access to more households and more consumption occasions,' Narayanan told TOI in an exit interview. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo Following the setback, Maggi recovered 60 per cent of its market share within months of its relaunch in November 2015, bouncing back from near-extinction and reaffirming its place in Indian kitchens, eventually making India its largest market globally. 'Post the crisis, our levels of respect and trust have gone up. We came back from a dead brand into life. We moved from strength to strength,' he recounted. Over the years, Nestlé has delivered steady growth by focusing on premiumisation, a consumer cluster-based and 'Rurban' strategy, and expansion into new businesses—driving both top-line and bottom-line performance. 'One of the things I feel satisfied about is that there were two or three businesses I was keen to start in India. One was the breakfast cereals business, then pet care business and the third was Nespresso—all are now here,' Narayanan said. Also, 'we wanted to grow health science, and the joint venture with Dr Reddy's has given us that opportunity. So we are well placed not just in our core, but also in new, emerging opportunities—where there is a lot of potential for growth,' he added. Narayanan began his career at Nestlé India in 1999 as executive VP (sales), playing a key role in expanding the company's strategic footprint, and over the years, leading strategic transformations across core functions and major geographies. 'We have come a long way from those difficult (Maggi) days, and it feels good to give shareholders a bonus issue (upon farewell),' he added. Investor expectations, too, have been well met, with Narayanan delivering on three key demands: better returns, a 1:10 share split last year, and the company's first-ever 1:1 bonus issue this year. As he prepares to step down after 26 years with Nestlé, passing the baton to Manish Tiwary—former Country Manager of Amazon India—who takes over as CMD from August 1, the FMCG landscape is showing encouraging signs of recovery. Green shoots are becoming visible in urban demand after months of slowdown, supported by easing inflation and recent fiscal and monetary policy measures. Rurban markets (semi-urban and rural) have also demonstrated positive momentum, contributing to overall market resilience. This is a positive sign for companies like Nestlé, where urban markets remain key growth drivers, he said. At the same time, the value segment is seeing traction, supported by more benign inflation, a better monsoon, improved incomes—all contributing to a more favourable environment for consumption-led growth, he added. Amid these evolving market dynamics, the lens of sustainability remains ever-present in the company's business strategy, particularly in light of two significant challenges, according to him. First, consumers are increasingly demanding higher standards of governance and sustainability in the brands and products they choose—a global shift reflecting rising consumer consciousness. Second, regulatory bodies worldwide are raising the bar for product specifications, requiring companies to 'walk the talk' by enhancing the quality of their offerings to meet both consumer expectations and stricter regulatory standards. A rising tide lifts all boats. In the interconnectedness between consumer demands and regulatory responses lies the necessity for businesses to adapt and evolve in this changing landscape,' Narayanan says. Responding to a question on the company's strategy of steering clear of mergers and acquisitions, he said, 'We continue to explore good opportunities. But again, the question is one of valuation, potential, synergies, and growth opportunities that we see.' Using his experience at Nestlé, he now wants to guide senior executives on the pillars of strategy, leadership, and crisis management—all of which he honed during his time at the company. These, he believes, are increasingly essential in a world where crises are no longer exceptions but part of the norm. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
