Israeli military to relocate residents to 'safe' zones in southern Gaza
The military stated that shelter equipment will be delivered through the Kerem Shalom crossing in southern Gaza, with the United Nations and other international relief organisations overseeing the transfer after inspections by defence ministry personnel.When asked whether the supplies were intended for Gaza City's approximately one million residents and whether they would be relocated to the Rafah area near the Egyptian border, the military declined to comment.Israel's Defence Minister Israel Katz noted that plans for the northern Gaza offensive are still being finalised, though Israeli forces have intensified operations around Gaza City over the past week. Residents in neighbourhoods such as Zeitorun and Shejaia reported heavy aerial and tank fire that destroyed numerous homes.MILITARY OPERATIONS IN ZEITUNOn Friday, the Israeli military said it had launched a new operation in Zeitun, aimed at locating explosives, destroying tunnels, and targeting militants in the area.The ongoing conflict stems from Hamas' attack on southern Israel on October 7, 2023, which killed 1,200 people and left 251 hostages, according to Israeli authorities. Of the remaining 50 hostages still in Gaza, 20 are reportedly alive.Israel's retaliatory military campaign has killed over 61,000 Palestinians, according to Gaza's health ministry, and has triggered a severe hunger crisis. Most of Gaza's population has been displaced, and much of the enclave lies in ruins.Protests calling for hostage releases and an end to the war were expected across Israel on Sunday. Numerous businesses and universities announced strikes to mark the demonstrations.Efforts to secure a US-backed 60-day ceasefire and hostage release collapsed last month.- EndsWith inputs from ReutersMust Watch
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Time of India
an hour ago
- Time of India
Exports to US likely saw 7x faster growth vs overall rise
Representational Image NEW DELHI: Blame it on Donald Trump's now-on, now-off tariffs. Frontloading of consignments by Indian exporters to beat higher duties - first in April, when reciprocal tariffs were announced, and now - may have resulted in goods exports to the US rising seven times faster than the overall growth. During April-July, goods exports to the US jumped 21% to $33.5 billion, when overall exports grew 3% to $149.2 billion, the latest commerce department data showed. Although a 22% share of India's shipments does make Indian exports more vulnerable to the prospect of 50% additional duties, the high growth has given at least some of them the headroom to offer some discount, in case the 25% additional levy announced by Trump does kick in from Aug 27. Keeping an eye on US-Russia talks "We have spent the last week talking to buyers and in case of old buyers we are looking at some additional discount to retain the business even if it means that we have to pay out of our pockets for sometime. "Although official negotiations with the US (scheduled to start Aug 25) have been postponed, we expect some breakthrough in the forthcoming weeks," said Sudhir Sekhri, chairman of the Apparel Export Promotion Council (AEPC). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo When it comes to the first 25%, which has already been implemented, exporters have managed to share the burden and retain business, some of which is being fast-tracked to beat the deadline. For the next round, some of the contracts are coming with the clause that the discount being offered will not be applicable in case the additional 25%, secondary tariffs on India for buying Russian oil, do not kick in. Most industry players, however, said it is not possible to retain business with a 50% tariff. "We operate on a very thin margin of 5-7%, where is the question of offering steep discounts to offset the impact of 25% additional duty? We can sacrifice our profits but can't sustain the business with losses," said Rajendra Kumar Jalan, chairman of the Council for Leather Exports, adding that the US-Russia talks have provided a ray of hope on the penalty not kicking in. RC Ralhan, president of the Federation of Indian Export Organisations (Fieo) has convened a meeting on export promotion councils Monday to work out a joint petition for govt support. "There will be significant job losses if export orders are cancelled, especially in the MSME sector," he said. So far, however, the going has been good. In fact, July's sectoral export numbers for all countries indicated that US shipments may have provided a fillip to growth. For instance, gems and jewellery - where goods can be transported by air - saw a 28% jump in July when there was a decline of 0.7% during April-July. Similarly, pharma exports rose 14% in July, compared with 7.4% in the first four months of the fiscal year. Ditto for engineering goods (13.8% in July versus 6% for April-July) and plastics (4.4% against 2.6%). "The US market has been expanding and Indian exporters have also focused on it as returns are good," said Ajay Sahay, director general at Fieo. "Everybody was trying to frontload shipments. Order book was good in April-May, business generally was looking up because of the overall sentiment due to China+1. The sudden brakes will result in deceleration," added AEPC's Sekhri. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Indian Express
an hour ago
- Indian Express
In industrial belt near Delhi, Trump's tariffs cloud outlook for export of engineering goods
In one of the many cavernous sheds dotting Ghaziabad, the industrial suburb on the outskirts of the Capital, a giant stands silent. The massive metal forging machine, hauled from China only months ago at a cost of Rs 20 crore, glints under the dim factory lights, its steel body collecting a fine coat of dust. It was meant to be the future: sleek, electric-powered, capable of shaping metal with precision and scale. Yet, in its shadow, the old ritual continues. A knot of workers, sleeves rolled, faces flushed with heat, gather around a much smaller press, striking molten metal with steady, rhythmic blows. The clangs echo through the workshop like the heartbeat of an older era. For Ghaziabad-based CD Industries, a manufacturer of metal flanges feeding oil and gas exploration rigs across the US, the dormant machinery was supposed to answer the shifting demands of its overseas clients. Instead, it waits, inert. 'Baal mundwaate hi ole padne lage (It started raining hail stones as soon as one got his hair shaved),' Pankaj Agarwal, Director, CD Industries, told The Indian Express at his manufacturing plant in one of Ghaziabad's biggest industrial belts on the Bulandshahr Road. Agarwal had purchased the electric metal forge to exclusively service client requests from the US, who had asked him to make flanges of up to 16 inches, as opposed to his current capacity of eight-inch flanges. But, with US President Donald Trump's decision to raise tariffs on several Indian goods – to 25 per cent, with a further 25 per cent increase threatened by August 27 – new orders have dried up for Agarwal, and many engineering goods exporters like him. Increasingly, several US-based vendors are even cancelling earlier orders, resulting in significant financial losses for several Indian medium and small enterprises. Engineering is the largest industrial sector in India and accounts for 3.53 per cent of the country's Gross Domestic Product (GDP). The engineering goods export of India had a share of 25.22 per cent out of the total exports during the financial year FY24, as they jumped to $109.22 billion as compared to $106.93 billion during FY23. In FY25 (April to December), India's top five export destinations in the sector were the US (15.82%), the UAE (7.36%), Saudi Arabia (5.24%), Singapore (4.46%) and Germany (3.52%). Industries like auto components and metal works are particularly at a disadvantage. For CD Industries, the US is its exclusive export market, accounting for 50 per cent of the company's turnover. 'While we are continuing to deliver the previously placed orders, new enquiries have stopped coming in. For some companies, their previous orders have been cancelled, as importers are seeking a discount, which many manufacturers are not in a position to accept,' Agarwal said. His products are supplied across the length and breadth of the US, from the West Coast to the East Coast, and Texas to New York. 'The tariff situation is bothering us, haunting us, and we are really, really worried,' he said. His plant in Ghaziabad employs 225 people, including floor workers, project managers and quality control managers. For now, he says the older orders not getting cancelled – a fact he attributes to his long-standing relationship with his vendors, dating back 20 to 30 years – has allowed him to not trim the workforce. But if the situation continues for a longer time, he may have to let go of some workers, Agarwal said. Sanjeev Sachdev, general secretary of the Industrial Area Manufacturers' Association in Ghaziabad, said there are more than 400 manufacturing plants in the belt, which employ over 75,000 people. 'If the tariff situation is not resolved, and the government does not alternatively help the industry financially in the meantime, easily 5,000-7,000 people will lose their jobs. Many companies, who have purchased raw material and made finished goods, are staring at generations getting into debt,' Sachdev said. Pankaj Chadha, chairman of the Engineering Export Promotion Council (EEPC) of India, said about $5 billion worth of engineering goods exports are at risk due to US tariffs. 'Unlike other sectors, for us the pain started early on when the US announced 50 per cent tariffs on steel and aluminium. At this tariff rate, we cannot be competitive and we are not in a position to retain our market share in the US,' he said. Sachdev speaks with the quiet fatalism of someone who is anticipating to see too many balance sheets bleed red. Between raw metal and a gleaming finished part lies a steep markup – not just in price, but in labour, skill, and the hours of heat and noise that shape it. Yet that value can vanish in an instant. If an overseas buyer pulls the plug, the goods, tailored to a single client's specifications, are suddenly orphaned, with no other market to call home. In that moment, there are only two doors left open: swallow the buyer's demand for a deep discount, or consign the work to the scrap heap, where months of craft and capital dissolve into a fraction of their worth. For some manufacturers, it is not just a bad deal – it is the slow tightening of a noose. One too many of such blows, and the factory floor falls silent. Many in the industry, who spoke on condition of anonymity, warned that the real weight of the new tariffs will fall not on the industry's giants, but on the small and medium enterprises. The big players can simply pivot, scouting for new markets, absorbing the shock with the comfort of deep reserves. For the smaller firms, there is no such cushion, no easy escape route. The blow, when it lands, goes straight to the bone. Agarwal, Chadha and Sachdev, all said that the government's help to support companies in distress is the need of the hour. 'We expect the government to extend Remission of Duties and Taxes on Exported Products (RoDTEP) to the steel sector and restart the interest subvention scheme to ease the pain,' Chadha said. Vinod Kumar, president of the India SME Forum, said that export-focused countries like China have heavily invested in promoting their products globally. 'India has not done that over the years. This is a systemic problem. The nature of trade has changed over the years. Only production is not going to solve your problem, we have to market them effectively,' he said.
Hindustan Times
2 hours ago
- Hindustan Times
Israelis Hold Nationwide Protests and Strike to End the Gaza War
TEL AVIV—The families of Israeli hostages held in Gaza led nationwide protests and a strike calling for their loved ones to be freed and for an end to the war in Gaza, a sign of growing domestic pressure to wrap up the fighting even as Israeli Prime Minister Benjamin Netanyahu says he plans to expand it. Protesters burned tires on the highway connecting Jerusalem and Tel Aviv. Protesters blocked big highways across the country on Sunday morning—the start of the working week in Israel—as part of demonstrations that will take place in more than 300 different locations and are expected to draw hundreds of thousands of Israelis, according to organizers. Major Israeli universities and some businesses and tech companies said they would strike for the day in support of the families. The day of protests comes as Netanyahu announced earlier this month that Israel would take over Gaza City, where hundreds of thousands of Palestinians are believed to be sheltering and where some Israeli hostages are thought to be held. That decision has drawn broad international condemnation as well as domestic opposition, with polls showing that close to 80% of Israelis, including right-wingers, support ending the war in exchange for the remaining hostages held in Gaza. The pressure has so far failed to move Netanyahu. His critics say that he is prolonging the almost two-year-long war for his own political survival, an allegation he denies. 'The Prime Minister can bring one deal to return all the hostages and end the war, and he also has the backing of the people for that,' said Noam Peri, the daughter of deceased hostage Chaim Peri, during a press conference on Sunday morning. 'But he chooses to expand it, in a decision that is a death sentence for the hostages who are dying in the tunnels.' Netanyahu's government depends on the support of far-right lawmakers who oppose ending the war and call for re-establishing Jewish settlements in Gaza. Lawmakers from Netanyahu's coalition sharply criticized Sunday's demonstrations. 'The riots in support of Hamas have begun,' said Likud party lawmaker Hanoch Milwidsky in a post on X. The war in Gaza has killed over 61,000 people, according to Palestinian health authorities, which don't say how many were combatants, and has left swaths of the strip in ruins. The enclave faces a dire humanitarian crisis, including widespread hunger. In a sign of preparation for an invasion of Gaza City, the Israeli military unit charged with humanitarian coordination, called COGAT, said Saturday that it would begin to transfer tents and shelter equipment into Gaza. It said the equipment was required to evacuate the population south, a step Israel said it would take before the military operation began. Demonstrations are set to take place in more than 300 locations across Israel. Write to Anat Peled at Israelis Hold Nationwide Protests and Strike to End the Gaza War
