Post-ceasefire, the travel bug is back; but with some caution
Pickyourtrail, along with other travel brands, is seeing strong, sustained demand for Southeast Asia and European destinations like Greece, France, and Netherlands.
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Mint
an hour ago
- Mint
Silver price today: Precious metal hits new all-time high of ₹1.07 lakh per kilo; gold trades flat on MCX
Silver price today: Silver prices in India's Multi Commodity Exchange (MCX) jumped nearly 1.43 per cent or by ₹ 1,506 on Monday, 9 June 2025, in line with the global cues. Silver futures of the July contract jumped over 1.43 per cent to hit an all-time high of ₹ 1,07,073 per kilogram before closing at ₹ 1,06,965 per kilo on Monday, compared to ₹ 1,05,459 per kilo at the previous commodity market session, according to the MCX data. On the other hand, gold futures for the August contract were flat with 0.04 per cent gains at ₹ 97,077 per 10 grams on Monday, compared to ₹ 97,036 at the previous commodity market session. Silver prices soared ₹ 1,000 to hit a fresh peak of ₹ 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association, reported the news agency PTI. On Saturday, the metal traded flat at ₹ 1,07,100 per kg (inclusive of all taxes). Prior to that, the white metal on Friday had soared ₹ 3,000 to hit another record high of ₹ 1,07,100 per kilogram. Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. Gold of 99.9 per cent purity fell ₹ 280 to ₹ 97,780 per 10 grams (inclusive of all taxes) on Monday. The precious metal had declined by ₹ 1,630 to ₹ 98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped ₹ 250 to ₹ 97,350 per 10 grams (inclusive of all taxes). It had depreciated by ₹ 1,500 to ₹ 97,600 per 10 grams in the previous market close. Globally, spot gold rose marginally to USD 3,312.84 per ounce. 'Gold consolidated in the lower end of its range on Monday amid mixed signals. The highly anticipated talks between the US and China have raised hopes that the two largest economies can make progress on various disputes, which could reduce demand for safe havens'. 'Additionally, the latest Nonfarm Payrolls report in the US was strong, prompting traders to re-evaluate their expectations regarding a potential easing of monetary policy by the Federal Reserve, which also serves as a headwind for the yellow metal,' Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Spot silver rose 0.9 per cent to USD 36.30 per ounce in the international market. 'Silver prices stood out with strong gains hitting a 13-year high on the global stage and achieving lifetime highs in the domestic markets,' Mehta Equities' Vice-President, Commodities Rahul Kalantri said. 'Improving sentiment from softer European inflation and trade optimism helped silver breach the USD 36 per ounce level, breaking out of a long-standing consolidation range,' Kalantri added.
Time of India
an hour ago
- Time of India
Brazil's Embraer looking to step up jet production
New Delhi: Brazilian planemaker Embraer is looking to increase production rate of its commercial planes to 120 a year from 73 now, as airlines call for competition to end the Boeing-Airbus duopoly . Embraer is the third-largest aircraft manufacturer behind Boeing and Airbus. It manufactures regional planes with capacities ranging from 50 to 132 seats. "This year, we have a plan to deliver 75 to 80 planes in the commercial segment. We plan to increase production to 110 to 120 per year," Francisco Gomez Neto, chief executive officer of Embraer, told ET in an interview. Embraer is also examining the potential of a clean sheet design to increase market share. Neto didn't confirm if that would be a commercial jetliner, but reports have suggested that the company is planning a next-generation, narrow-body jet which can compete with best seller aircraft like the Airbus A320 and Boeing 737. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Shooter Action MMO Crossout Play Now Undo "It could be a new commercial or business jet... New commercial jet, bigger or smaller than what we have today," said Neto. "We are talking to engine makers, studying different types of wings. We want to make sure that if we build a new product, it should be one for the next two to three decades." European aerospace major Airbus is developing a next-generation, single-aisle aircraft for introduction in the second half of the 2030s, the company said. Live Events Boeing and Airbus are months and years behind on new aircraft deliveries, frustrating airlines that want to upgrade to more fuel-efficient planes and launch new services. Emirates CEO Tim Clark said the industry is still facing chronic aerospace supply problems and challenged plane makers to take responsibility. "I am pretty tired of seeing the hand-wringing about the supply chain: you (manufacturers) are the supply chain," Clark said last week at a press briefing in New Delhi. However, though he said that the industry needs a third manufacturer, he added that currently it doesn't look like the duopoly would end so soon. United Airlines CEO Scott Kirby also called for more competition in the aerospace business. Neto said he sees opportunities in India in commercial and business jets, as well as military aircraft, and is ready to set up a final assembly line if it secures a large order from the country's airlines. "We are very open to discuss, but we need to have scale of deliveries in India in order to make sense, make business sense, but we are open to do it," Neto said.
Time of India
an hour ago
- Time of India
Auto companies 'in full panic' over rare-earths bottleneck
Frank Eckard, CEO of a German magnet maker, has been fielding a flood of calls in recent weeks. Exasperated automakers and parts suppliers have been desperate to find alternative sources of magnets, which are in short supply due to Chinese export curbs. Some told Eckard their factories could be idled by mid-July without backup magnet supplies. "The whole car industry is in full panic," said Eckard, CEO of Magnosphere, based in Troisdorf, Germany. "They are willing to pay any price." Car executives have once again been driven into their war rooms, concerned that China's tight export controls on rare-earth magnets - crucially needed to make cars - could cripple production. U.S. President Donald Trump said Friday that Chinese President Xi Jinping agreed to let rare earths minerals and magnets flow to the United States. A U.S. trade team is scheduled to meet Chinese counterparts for talks in London on Monday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Small Electric Car for Seniors in Iraq: Prices That Will Surprise You Electric Cars | Search Ads Undo The industry worries that the rare-earths situation could cascade into the third massive supply chain shock in five years. A semiconductor shortage wiped away millions of cars from automakers' production plans, from roughly 2021 to 2023. Before that, the coronavirus pandemic in 2020 shut factories for weeks. Those crises prompted the industry to fortify supply chain strategies. Executives have prioritized backup supplies for key components and reexamined the use of just-in-time inventories, which save money but can leave them without stockpiles when a crisis unfurls. Live Events Judging from Eckard's inbound calls, though, "nobody has learned from the past," he said. This time, as the rare-earths bottleneck tightens, the industry has few good options, given the extent to which China dominates the market. The fate of automakers' assembly lines has been left to a small team of Chinese bureaucrats as it reviews hundreds of applications for export permits. Several European auto-supplier plants have already shut down, with more outages coming, said the region's auto supplier association, CLEPA. "Sooner or later, this will confront everyone," said CLEPA Secretary-General Benjamin Krieger. Cars today use rare-earths-based motors in dozens of components - side mirrors, stereo speakers, oil pumps, windshield wipers, and sensors for fuel leakage and braking sensors. China controls up to 70% of global rare-earths mining, 85% of refining capacity and about 90% of rare-earths metal alloy and magnet production, consultancy AlixPartners said. The average electric vehicle uses about .5 kg (just over 1 pound) of rare earths elements, and a fossil-fuel car uses just half that, according to the International Energy Agency. China has clamped down before, including in a 2010 dispute with Japan, during which it curbed rare-earths exports. Japan had to find alternative suppliers, and by 2018, China accounted for only 58% of its rare earth imports. "China has had a rare-earth card to play whenever they wanted to," said Mark Smith, CEO of mining company NioCorp, which is developing a rare-earth project in Nebraska scheduled to start production within three years. Across the industry, automakers have been trying to wean off China for rare-earth magnets, or even develop magnets that do not need those elements. But most efforts are years away from the scale needed. "It's really about identifying ... and finding alternative solutions" outside China, Joseph Palmieri, head of supply chain management at supplier Aptiv, said at a conference in Detroit last week. Automakers including General Motors and BMW and major suppliers such as ZF and BorgWarner are working on motors with low-to-zero rare-earth content, but few have managed to scale production enough to cut costs. The EU has launched initiatives including the Critical Raw Materials Act to boost European rare-earth sources. But it has not moved fast enough, said Noah Barkin, a senior advisor at Rhodium Group, a China-focused U.S. think tank. Even players that have developed marketable products struggle to compete with Chinese producers on price. David Bender, co-head of German metal specialist Heraeus' magnet recycling business, said it is only operating at 1% capacity and will have to close next year if sales do not increase. Minneapolis-based Niron has developed rare-earth free magnets and has raised more than $250 million from investors including GM, Stellantis and auto supplier Magna. "We've seen a step change in interest from investors and customers" since China's export controls took effect, CEO Jonathan Rowntree said. It is planning a $1 billion plant scheduled to start production in 2029. England-based Warwick Acoustics has developed rare-earth-free speakers expected to appear in a luxury car later this year. CEO Mike Grant said the company has been in talks with another dozen automakers, although the speakers are not expected to be available in mainstream models for about five years. As auto companies scout longer-term solutions, they are left scrambling to avert imminent factory shutdowns. Automakers must figure out which of their suppliers - and smaller ones a few links up the supply chain - need export permits. Mercedes-Benz, for example, is talking to suppliers about building rare-earth stockpiles. Analysts said the constraints could force automakers to make cars without certain parts and park them until they become available, as GM and others did during the semiconductor crisis. Automakers' reliance on China does not end with rare earth elements. A 2024 European Commission report said China controls more than 50% of global supply of 19 key raw materials, including manganese, graphite and aluminum. Andy Leyland, co-founder of supply chain specialist SC Insights, said any of those elements could be used as leverage by China. "This just is a warning shot," he said.
