China's LandSpace launches improved methane-powered rocket
The Zhuque-2E Y2 carrier rocket blasted off at 12:12 p.m. (0412 GMT) from the Jiuquan Satellite Launch Center in northwest China, marking the fifth flight for the Zhuque-2 series, according to a company statement.
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Time of India
an hour ago
- Time of India
Embraer sees lot of opportunities in India; in talks with IndiGo, Air India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Embraer sees a lot of opportunities in India in the commercial and business jets as well as military aircraft and eVTOL segments, its CEO Francisco Gomes Neto has said as the Brazilian seeks to strengthen its foot print in the fast growing Indian the company is in talks with IndiGo and Air India to explore the possibility of selling its E-2 aircraft, which can have up to 146 tap the opportunities, Embraer has set up a fully-owned Indian subsidiary with its corporate office in the national an exclusive interview to PTI in the national capital, Neto said the company will put in place a procurement team to explore opportunities in the Indian supply chain and look at the possibility of procuring components and services from company is hiring people in India for government relations, communications, procurement and engineering, sales and marketing there are nearly 50 Embraer aircraft and 11 aircraft types operating in India across commercial and business aviation, and defence segments."India is the third largest market in aviation globally... we see a lot of opportunities for us in the future in this market for all the products we have, the different business units, commercial jets, business jets, military aircraft and eVTOLs."That's why we want to really to deepen our collaboration with the country and this step of opening a subsidiary in India," Neto the civilian aircraft space, Embraer planes are operated by regional carrier Star Air and entities are also using the company's business whether Embraer will look to set up a MRO (Maintenance, Repair and Overhaul) facility for civilian planes in India, Neto said it will depend on the aircraft Villaron, SVP Sales & Marketing and Head of Region for Asia Pacific at Embraer Commercial Aviation, told PTI that the company is in talks with IndiGo and Air India.A majority of the unserved markets in India are either too thin for the narrow-body aircraft or too long for turboprops. "So the E2 is right in the sweet spot," he said.E195-E2 jets can have up to 146 seats depending on the said earlier it was difficult for the company to enter the Indian market due to products in the past as the value proposition of E1 jets was more on trip cost versus seat cost."Now we have the E2, which has a very competitive seat cost, which allows us to be more competitive in the Indian market," he has a significant presence in the Indian defence year, Embraer Defense & Security and Mahindra Defence Systems inked a Memorandum of Understanding (MoU) to evaluate the opportunity to jointly pursue the Indian Air Force's Medium Transport Aircraft (MTA) programme with the C-390 Embraer aircraft operated by Indian forces include the Legacy 600 aircraft used for the transportation of government officials and VIPs by the Indian Air Force (IAF) and Border Security Force (BSF), and also the Netra AEW&C aircraft based on the Embraer ERJ145 platform operated by the respect to business jet segment, Neto said there will be much more opportunities with a few changes in the there is an increasing interest in eVTOL (electric Vertical Take Off and Landing) aircraft, which are also seen as a key solution for urban is in the national capital to attend the annual general meeting of the International Air Transport Association (IATA).India and Brazil have a huge potential to grow the bilateral trade which is not that big now. "We see a lot of opportunities", not only because of the long term relationship between the two countries, but also because both are part of the BRICS, Neto said."We expect that the global south will increase the collaboration... increase the trade between the countries," he biggest market for Embraer, which achieved record revenues in 2024, is the United asked about how much of a concern is the tariff uncertainties, he said tariffs are bringing a lot of complexity and costs for industry and the company is learning how to deal with it at this moment."But we don't expect any change in the guidance we give to the market in terms of revenues, profit, and cash generation for 2025," he noted. PTI
Time of India
2 hours ago
- Time of India
Asian markets dip as Donald Trump escalates trade war with China
Asian stocks tumbled Monday after US President Donald Trump reignited trade tensions by announcing a sharp increase in tariffs and accusing China of breaching a recent trade truce. Trump,on Friday said that, steel and aluminium tariffs would be doubled to 50% from 25%, claiming the move would further protect the US steel industry. He also accused China of "totally violating" the agreement made last month to pause tariff hikes for 90 days while both sides worked on a broader deal. US commerce secretary Howard Lutnick added fuel to the fire, saying on Fox News that China was 'slow-rolling' the agreement. China firmly rejected the accusations, calling them baseless and "seriously contrary to the facts." They criticised Washington for making "bogus charges and unreasonably accused China of violating the consensus, which is seriously contrary to the facts". The developments have thrown the trade war back into the spotlight, having been put on the back burner after the China detente and indications that governments were working deals with US officials. Asian markets declined on the day, despite positive data showing the Federal Reserve's preferred inflation measure had cooled beyond expectations last month, as concerns about tariffs' economic impact dominated sentiment. Hong Kong's market fell over two percent, with property companies particularly affected due to concerns surrounding New World Development's delayed bond interest payments. The company is currently seeking to secure more than US$11 billion in bank refinancing. Its difficulties have sparked renewed worries about China's property sector, where companies face challenges selling inventory to service substantial debt obligations. Declines were also recorded in Tokyo, Sydney, Singapore, Taipei, Manila and Jakarta, whilst Shanghai remained closed for a holiday. Oil prices rose sharply after OPEC and its allies announced a smaller-than-expected production hike for July, while fears of war escalation grew as Ukraine launched drone strikes on Russian air bases. Meanwhile, the US dollar weakened over concerns about the American economy, as Trump pushes for extended tax cuts and welfare reductions. Critics warn this could add trillions to the national debt, spooking bond markets and driving Treasury yields higher. Credit rating agency Moody's downgraded the US's last top-tier rating, citing a likely surge in federal deficits. JPMorgan CEO Jamie Dimon also warned of a potential crisis in the US bond market, calling the situation a "real problem." "The bond market is going to have a tough time. I don't know if it's six months or six years," he added. Market snapshot as of 02:30 GMT Tokyo – Nikkei 225: ↓ 1.5% at 37,414.02 Hong Kong – Hang Seng: ↓ 2.3% at 22,753.81 Shanghai – Composite: Closed for holiday New York – Dow Jones: ↑ 0.1% at 42,270.07 (close) London – FTSE 100: ↑ 0.6% at 8,772.38 (close) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
2 hours ago
- Mint
Gold prices climb as tariff jitters lift safe-haven demand
(Reuters) - Gold prices climbed on Monday as an escalation in the Russian war in Ukraine and U.S. President Donald Trump's fresh threat to double tariffs on imported steel and aluminum prompted investors to seek refuge in safe-haven bullion. Spot gold was up 0.5% at $3,305.85 an ounce, as of 0204 GMT. U.S. gold futures rose 0.4% to $3,329.80. "With trade and geopolitical worries bubbling to the surface once again, it's no surprise to see gold ticking higher to start the week," said Tim Waterer, chief market analyst at KCM Trade. "Risk assets are on the backfoot to start the week while a dip in the dollar is also keeping gold supported." [MKTS/GLOB] Trump said on Friday that he plans to raise tariffs on imported steel and aluminum to 50% from 25%, prompting the European Commission to warn that Europe is prepared to retaliate. Ukraine and Russia escalated hostilities ahead of their second round of peace talks in Istanbul, with a wave of attacks that included one of Ukraine's boldest strikes of the war and an overnight drone assault by Russia. The U.S. dollar index edged 0.2% lower, making bullion less expensive for overseas buyers. [USD/] Markets are awaiting speeches from several U.S. Federal Reserve officials this week for cues on the monetary policy outlook, with Fed Chair Jerome Powell set to speak later in the day. Fed Governor Christopher Waller said that interest rate cuts remain possible later this year even as the Trump administration's tariff regime is likely to push up price pressures temporarily. Gold, which is considered as a safe-haven asset during the time of geopolitical and economic uncertainty, tends to thrive in low-interest rate environment. Meanwhile, Trump and Chinese President Xi Jinping are expected to speak soon to iron out trade issues including a dispute over critical minerals, according to Treasury Secretary Scott Bessent on Sunday. Elsewhere, spot silver was steady at $32.99 an ounce, platinum was down 0.6% at $1,049.72 and palladium fell 0.5% to $965.77. (Reporting by Anmol Choubey in Bengaluru; Editing by Sherry Jacob-Phillips)
