Latest news with #IndianGovernment
Arab News
4 days ago
- Business
- Arab News
Pakistan again extends airspace ban on Indian aircraft till August 24
KARACHI: Pakistan has extended for the third time its airspace ban on Indian aircraft until August 24, the Pakistan Airports Authority (PAA) said late Friday, amid continued tensions between the two countries. The restriction was first imposed on Apr. 24 as part of a series of tit-for-tat measures announced by both India and Pakistan, days after an attack in Indian-administered Kashmir. India blamed Pakistan for the assault that killed 26 tourists, Islamabad denied the allegation and called for a credible international probe into the incident. Both countries later engaged in a four-day military conflict in May. 'All aircraft operated by Indian airlines will not be able to use Pakistani airspace,' the PAA said in a statement. 'The ban will remain in effect until 4:59am on August 24, Pakistan time.' The authority said Indian-owned or -leased military and civil aircraft will also not be allowed into Pakistani airspace. Pakistan previously extended the one-month restriction in May and June. The restriction has forced Indian airlines to reroute their flights, resulting in increased fuel consumption, longer travel times and higher operational costs. Air India, which operates numerous flights to Europe and North America, estimated in May that the airspace ban could lead to approximately $600 million in additional expenses over the course of a year and requested compensation from the Indian government.
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Business Standard
4 days ago
- Business
- Business Standard
Cement shares in focus; Sagar, Dalmia Bharat, JK Cement hit 52-week highs
Cement companies share price today Shares of select cement companies were in focus, and rallied up to 7 per cent on the BSE in Friday's intra-day trade amid heavy volumes on expectations of a healthy demand outlook. Sagar Cements (up 7 per cent at ₹274), JK Cement (4 per cent at ₹6,668) and Dalmia Bharat (3 per cent at ₹2,255) hit their respective 52-week highs on the BSE in intra-day trade. In comparison, the BSE Sensex was down 0.62 per cent at 81,753 at 03:03 PM. Cement sector overview The Indian Government announced a series of measures in the Union Budget for FY2025-26 (FY26), which would boost cement demand substantially. The cement industry faced multiple challenges during FY25, including slower growth and lower sales. Growth slowed to 4-5 per cent, down from double-digit growth in previous years. This was partly due to elections and a long monsoon season, as well as labour shortages. However, the medium-to long-term outlook remains positive, with various industry reports pegging the sector growth at 7-8 per cent per annum, at par with the GDP growth, Sagar Cements said in the FY25 annual report. The infrastructure segment continues to see strong demand, driven by increased government spending across various infrastructure segments. Housing, which accounts for 55 per cent of cement demand, is expected to grow steadily, supported by rural housing expansion, due to favourable monsoons, moderating inflation and ongoing urban real estate projects. The government's emphasis on affordable housing and investments in mega projects such as highways, railways and industrial development is expected to further sustain cement demand. Most brokerage reports indicate that pent-up demand, a renewed capex push, and sustained momentum in the housing sector are going to drive up demand. Meanwhile, the lower interest rates are expected to encourage higher spending and investment, stimulating economic activity and supporting overall economic growth. Further, the new tax structure will substantially reduce taxes for the middle class and leave more money in their hands, boosting household consumption, savings and investment, which is expected to work in favour of the cement sector. Brokerages view on cement sector On the demand front, it remained better due to a lower base of the previous year. The demand from government infrastructure projects is yet to pick up in some key states, as per experts. With the onset of the monsoon season, demand softened further in most pockets. The density of the rainfall in September-October 2025 and revival of demand post- monsoon to decide the pricing direction, with most capacities in FY26F to come on stream in the second half of the year, analysts at InCred Equities said in sector report. In the short term, the sector will likely face seasonal challenges due to Monsoon-related weakness, affecting demand and pricing. However, we expect demand growth to rebound in FY26, driven by improved execution of government initiatives, such as the Pradhan Mantri Awaas Yojana – Gramin, and increased irrigation spending. Capacity addition will continue, keeping utilization range-bound. As the industry enters a lean season, profit margin may see a near-term peak in Q1FY26. Investors may consider reducing their positions after Q1FY26 results to avoid short-term underperformance, said analysts at Elara Capital.
Canada News.Net
7 days ago
- Politics
- Canada News.Net
Alberta Premier urges Canadian PM to designate Lawrence Bishnoi gang as "terrorist entity"
Alberta [Canada], July 16 (ANI): Alberta Premier Danielle Smith has urged Canadian Prime Minister Mark Carney and his cabinet to formally label the Lawrence Bishnoi gang as a 'terrorist entity', citing its involvement in transnational crime and violence in Canada and abroad. In a statement posted on X on Tuesday, Smith, Alberta's 19th Premier and Leader of the United Conservative Party (UCP), described the Bishnoi gang as a global criminal organisation involved in offences such as violence, extortion, drug trafficking, and targeted killings, including incidents in Canada. Highlighting the growing threat posed by the organised crime groups operating across international borders, the Premier said that gang activity 'knows no boundaries and respects no borders.' 'The Lawrence Bishnoi Gang is a transnational criminal network responsible for violence, extortion, drug trafficking and targeted killings, including here in Canada. Its reach is global, and its intent is criminal and violent,' she said in her post on X. 'Alberta wants to send a clear message: you are not welcome here,' Smith added. The Premier emphasised that officially labelling the gang as a 'terrorist entity' would empower law enforcement agencies across provincial and municipal levels to more effectively combat its operations, while calling on the Canadian Government to act with urgency. 'Formally designating the Bishnoi Gang as a terrorist entity will unlock critical powers, allowing provincial and municipal-level law enforcement agencies to access the necessary tools and resources needed to effectively disrupt operations and protect our people,' the post read. 'The time for action is now. Alberta's government is asking the federal government and Prime Minister Mark Carney to join them in taking a stand and act to protect Albertans and all Canadians,' it added. Lawrence Bishnoi is currently under the custody of the Indian Government under many charges, including the links to the killing of Punjabi rapper Sidhu Moose Wala back in 2022, in a reported gang rivalry. This incident drew widespread national attention, which catapulted Bishnoi and his gang into the mainstream. His gang also took credit for the assassination of Nationalist Congress Party leader Baba Siddique last year. (ANI)
Khaleej Times
15-07-2025
- Politics
- Khaleej Times
Kerala nurse Nimisha Priya's execution postponed: Indian media
The execution of Nimisha Priya, an Indian nurse on death row in Yemen, has been postponed by Yemeni authorities, multiple Indian media outlets reported on Tuesday. Priya, hailing from Kollengode in Kerala's Palakkad district, has been found guilty of murdering a Yemeni citizen in July, 2017. Her execution was scheduled for Wednesday, July 16. According to the sources, the postponement provides additional time for her family to negotiate a mutually agreeable solution amidst ongoing diplomatic efforts by Indian officials as they maintained regular communication with Yemeni jail authorities and the prosecutor's office while navigating the sensitivities of the situation to secure this reprieve. The government of India, which has since the beginning of the case been rendering all possible assistance in the matter, has made concerted efforts in recent days to seek more time for the family of Nimisha Priya to reach a mutually agreeable solution with the other party. "In the case of Ms. Nimisha Priya, it has been learnt that the local authorities in Yemen have postponed the execution scheduled for July 16, 2025," the sources stated. "GOI, which has since the beginning of the case been rendering all possible assistance in the matter, has made concerted efforts in recent days to seek more time for the family of Ms. Nimisha Priya to reach a mutually agreeable solution with the other party. Despite the sensitivities involved, Indian officials have been in regular touch with the local jail authorities and the prosecutor's office, leading to securing this postponement," it added. The 37-year-old nurse was set to be executed after a trial court in Yemen convicted her of killing a Yemeni national, a decision that the country's Supreme Judicial Council upheld in November 2023.
Yahoo
15-07-2025
- Automotive
- Yahoo
Tesla debuts in India with upscale showroom launch in Mumbai
NEW DELHI (AP) — Tesla Inc. opened its first showroom in India on Tuesday, marking the electric vehicle maker's long-anticipated debut in the world's third-biggest automotive market. Located in the Bandra-Kurla Complex, an upscale business center in the financial capital Mumbai, the showroom will serve as Tesla's flagship retail and experience outlet as the company introduces its EV lineup to Indian customers. Tesla's entry to India comes after years of delays and policy friction, marking a pivotal expansion in a fast-growing consumer base while global sales are plunging and the company faces challenges in its two core markets, China and the U.S. Sales of Tesla electric cars fell sharply from April to June as boycotts over Elon Musk's political views continued keeping buyers away. For India, Tesla's entry signals rising investor confidence and strengthens its move towards clean mobility. The country's nascent electric vehicle market made up a little more than 2% of total car sales last year. But the government wants to change that and increase the electric vehicle share to 30% by 2030.
