Regulating the regulator
Sebi, governing markets for 3 decades, in search of governance rules for itself A high-level committee appointed by Sebi has started consultations with a wide range of stakeholders to address the conflict-of-interest issues and build a comprehensive framework to manage it. As a new regime takes shape, the challenge will be to improve transparency without getting too onerous. HSBC's next move could shake up India's venture debt play London-based
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India Today
39 minutes ago
- India Today
US suspends nuclear equipment exports to China amid escalating trade war: Report
The US in recent days suspended licenses for nuclear equipment suppliers to sell to China's power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade suspensions were issued by the US Department of Commerce, the people said, and affect export licenses for parts and equipment used with nuclear power equipment suppliers are among a wide range of companies whose sales have been restricted over the past two weeks as the US-China trade war shifted from negotiating tariffs to throttling each other's supply chains. It is unclear whether a Thursday call between US President Donald Trump and Chinese President Xi Jinping would affect the suspensions. The US and China agreed on May 12 to roll back triple digit, tit-for-tat tariffs for 90 days, but the truce between the two biggest economies quickly went south, with the US claiming China reneged on terms related to rare earth elements, and China accusing the US of "abusing export control measures" by warning that using Huawei Ascend AI chips anywhere in the world violated US export controls. After Thursday's call, further talks on key issues were US Department of Commerce did not respond to a request for comment on the nuclear equipment restrictions. On May 28, a spokesperson said the department was reviewing exports of strategic significance to China."In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending," the spokesperson said in a statement. The Chinese Embassy in Washington did not immediately respond to a request for nuclear equipment suppliers include Westinghouse and Emerson EMR.N. Westinghouse, whose technology is used in over 400 nuclear reactors around the world, and Emerson, which provides measurement and other tools for the nuclear industry, did not respond to requests for suspensions affect business worth hundreds of millions of dollars, two of the sources also coincide with Chinese restrictions on critical metals threatening supply chains for manufacturers worldwide, especially America's Big Three could not determine whether the new restrictions were tied to the trade war, or if and how quickly they might be reinstated. Department of Commerce export licenses typically run for four years and include authorized quantities and many new restrictions on exports to China have been imposed in the last two weeks, according to sources, and include license requirements for a hydraulic fluids supplier for sales to license suspensions went to GE Aerospace for jet engines for China's COMAC aircraft, sources U.S. also now requires licenses to ship ethane to China, as Reuters reported first last week. Houston-based Enterprise Product Partners EPD.N said Wednesday that its emergency requests to complete three proposed cargoes of ethane to China, totaling some 2.2 million barrels, had not been said a May 23 requirement for a license to sell butane to China, in addition to the ethane, was subsequently withdrawn. Dallas-based Energy Transfer said it was notified on Tuesday about the new ethane licensing requirement, and planned to apply and file for an emergency sectors that have been hit with new restrictions include companies that sell electronic design automation software such as Cadence Design Systems CDNS.O.
The Hindu
2 hours ago
- The Hindu
When sustainability and low carbon are targets, a factory near Chennai sets an example
Among the hundreds of industries functioning in the Sriperumbudur industrial belt of Kancheepuram district, one factory seems to stand out as far as efficient use of natural resources of water and sunlight is concerned. A solar panel manufacturer has pioneered the art of saving water through the 'Zero liquid discharge' (ZLD) project, with zero waste generation. First Solar, a US-based wholly owned subsidiary of First Solar, Inc, operating within a water-intensive industry segment, is engaged in the manufacture of solar panels for Independent Power Producers (IPPs) located in the SIPCOT Industrial park of Pillaipakkam near Sriperumbudur. The 3.30 giga watt (GW) solar panel manufacturing factory, spanning more than 130 acres, has actualised the mantra of 'reuse, recycle, and repurpose' in the manufacturing process through efficient use of water and manufacturing waste. N.L. Selvakumar, head, environment and recycling, First Solar, who is in charge of the ZLD system, said the factory floor, spanning more than 24 lakh needs water for two purposes — cooling the factory and manufacturing. The company, which requires almost 3.60 million litres of water per day, had tied up with Metrowater to supply tertiary-treated reverse osmosis (RO) water from the Koyambedu sewage treatment plant for the factory's needs. But subsequently, the company set up their own water treatment facility (ZLD), resulting in the reduction of more than 50% dependence on the sourced RO water from Koyambedu plant. The ZLD system, which has been set up and managed in-house, extracts water from the discharged wastewater, and enables its reuse by producing 'ultra pure water' for the manufacturing and cooling processes, thereby drastically reducing the intake of water requirements. The system has enabled the creation of solar modules in the State with the lowest water footprint in the world, compared to traditional polysilicon-based solar panel production, according to the company. The factory, employing more than 1,400 persons, has also set up a sewage treatment facility, which operates a Membrane Bioreactor (MBR) sewage treatment plant that utilises the treated water for watering the garden. Over 80 kilolitres per day of treated water is being generated, Mr. Selvakumar added. Sujoy Ghosh, Country Managing Director, First Solar, says the company's commitment to the environment not only lies in water conservation but also in generating clean electricity. He said as part of this, the company had installed their own captive solar plants of 53.66 mega watt (MW) in southern parts of the State. Mr. Ghosh further said the company's green footprint was 35% renewable energy, and ongoing solar projects promise expansion to 116.80 MW. Unlike the manufacturing waste generated by polysilicon-based solar panel producers, the factory, which generates 2% of industrial wastes, recycles them into minerals to be used again for solar panels and crushed glass.
Time of India
2 hours ago
- Time of India
De Beers draws interest from billionaire Agarwal, Qatari funds, sources say
De Beers, currently being divested from Anglo American, has attracted interest from multiple consortia, including billionaire Anil Agarwal, Indian diamond firms like KGK Group and Kapu Gems, and Qatari investment funds. This move occurs amidst challenging global diamond prices as Anglo American shifts its focus to copper and iron ore. Tired of too many ads? Remove Ads Diamond giant De Beers has drawn interest from at least six consortia, including billionaire Anil Agarwal , Indian diamond firms and Qatari investment funds, sources close to the companies told Beers is being carved out of Anglo American as the London-listed miner refocuses on copper and iron ore but the move comes with global diamond prices under chairman of Vedanta Resources , which has mines in Zambia and South Africa, is among the interested parties, as part of a bigger group, two sources and Agarwal both declined to companies including KGK Group and Kapu Gems, which dominate the domestic cutting and polishing trade, and are De Beers's biggest customers, have also expressed an interest, two sources with knowledge of the matter Group and Kapu Gems did not respond to requests for American, whose book value for De Beers stands at $4.9 billion, following $3.5 billion in impairments over the last two years, said it has retained financial advisers Morgan Stanley, Goldman Sachs and Centerview to help with a sale or a demerger and potential listing.
