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Time of India
30-04-2025
- Business
- Time of India
After suspending Indus Waters Treaty, India may oppose IMF's $1.3-billion loan to Pakistan
Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. (AI image) India-Pakistan tensions escalate: India may challenge a proposed $1.3-billion International Monetary Fund (IMF) loan for Pakistan at the forthcoming board meeting of the global institution, according to three sources privy to the deliberations. On May 9, the IMF board will evaluate a fresh $1.3-billion arrangement for Pakistan under its climate resilience loan programme. Additionally, it will assess the ongoing $7-billion bailout package, including the status of policy commitments. "There is a view that support to terror by the neighbouring nation be flagged at the board meeting when the loan is taken up," a source informed ET. Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. The programme necessitated Pakistan to implement effective policies and reforms to enhance macroeconomic stability, tackle fundamental structural issues, and establish conditions for robust, inclusive and sustainable growth. Also Read | With Indus Waters Treaty suspended, Modi government looks to expedite five major J&K hydroelectric power projects The IMF is releasing the $7 billion in installments, and the board's approval is essential for the next $1 billion tranche to be released. Previously, India had abstained from casting its vote on the bailout package extended to its neighbour to bolster its struggling economy. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Invest $200 in Amazon without buying stocks to earn a second salary Marketsall Sign Up Undo In this instance, India might cast a negative vote against IMF assistance to Pakistan, citing fund misappropriation and technical reasons, another source indicated. Following the terrorist attack in Pahalgam, India has implemented various measures against Pakistan, including suspending the Indus Waters Treaty with the neighbouring nation. S Jaishankar, the external affairs minister, held discussions on Tuesday with his counterparts from seven non-permanent UN Security Council member nations. He is believed to have informed them about the cross-border connections to the April 22 terrorist incident that resulted in 26 civilian casualties. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
30-04-2025
- Business
- Time of India
Asia stocks climb as US markets rise despite trade war worries
Representational AI image Asian markets moved in different directions on Wednesday with countries like Japan and Taiwan registering small gains, following a strong performance on Wall Street the previous day. However, ongoing concerns about US trade policy under president Donald Trump continued to make investors worried. Associated Press reported that in Tokyo, Japan's main stock index Nikkei rose slightly, but shares of car companies dipped after Trump signed an order that rolled back some tariffs on car parts. Hong Kong and South Korea saw declines, while Taiwan and Australia showed small gains. In the US, the main stock indexes continued their upward streak. The S&P 500 and Nasdaq both rose, helped by strong earnings reports from major companies. Honeywell International saw its stock jump over 5% after it reported higher-than-expected profits and raised its forecast for the year. Paint maker Sherwin-Williams also posted solid gains. Asia stocks up ahead of earnings barrage, economic data on impact of Trump tariffs | ANC UPS, the world's largest package delivery company, reported better profits than analysts expected. However, it also announced plans to cut 20,000 jobs and close 73 buildings due to economic uncertainty, which pushed its shares slightly lower. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 10 Mysterious Photos That Cannot Be Explained True Edition Undo Many CEOs are unsure how long profits can hold up amid Trump's unpredictable tariff policies. There's growing concern that tariffs could slow down global trade and make goods more expensive. A recent report showed US consumer confidence has fallen sharply—now at its lowest since 2011. That's usually a warning sign for recession. Even Treasury Secretary Scott Bessent acknowledged the tension, calling the economic confusion a 'strategic' part of Trump's negotiation tactics. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
29-04-2025
- Business
- Time of India
NMDC Steel's Nagarnar plant achieves new production milestones
Representational AI image HYDERABAD: NMDC Steel Ltd (NSL)'s Nagarnar plant has reached its rated capacity with its raw material handling system (RMHS), coke oven, blast furnace and steel melting shop (SMS) setting new benchmarks on April 26, 2025, NMDC Ltd said on Monday. NSL's RMHS achieved its highest-ever daily base mix production of 23,307 tonnes and hit superior operational efficiency by registering the lowest-ever tippling time of 2 hours and 35 minutes, it said. The plant's coke oven (CO) unit also achieved its highest daily pushings with 186 pushings, while the blast furnace delivered a stellar performance by recording its highest daily hot metal production of 11,034 tonnes. The SMS too crossed an operational milestone by tapping 52 heats and producing 9,342 tonnes of liquid steel. Apart from this, the power and blowing station (PBS) exceeded its rated capacity with the top recovery turbine (TRT) generating over 15 MW of power for the first time on April 26, 2025. The day also saw the sinter plant achieving a robust production of 12,886 tonnes of sinter, the thin slab caster (TSC) producing 8,850 tonnes of crude steel and the hot strip mill (HSM) delivered 8,673 tonnes of HR coils. NSL also supplied liquid nitrogen for the first time to the Chhattisgarh government, enhancing its contribution to the regional industrial ecosystem. NMDC Ltd and NSL chairman and managing director Amitava Mukherjee said the record-breaking performances reflect NSL's commitment to operational excellence, innovation, and resilience. It is a proud and defining moment for all of us, as we continue to raise the bar and set new benchmarks for India's steel industry. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
28-04-2025
- Business
- Time of India
India's industrial output grows 3% in March, FY 2024-25 growth at 4%, lowest in four years
AI-generated image India's industrial output grew by 3 per cent in March 2025, a slight improvement from 2.7 per cent in February but down from 5.5 per cent in March 2024. This slowdown was primarily due to weaker performances in the manufacturing, mining, and power sectors. The government also revised February's growth estimate to 2.7 per cent, down from an initial 2.9 per cent. For fiscal year 2024-25, the Index of Industrial Production (IIP) expanded by 4 per cent, the lowest growth rate in four years, significantly lower than 5.9 per cent in 2023-24 and 11.4 per cent in 2021-22. The previous low was -8.4 per cent in 2020-21. The National Statistics Office (NSO) data showed a slowdown across key sectors. Manufacturing grew by 3 per cent in March 2025, down from 5.9 per cent a year earlier. Mining output increased by only 0.4 per cent, a sharp decline from 1.3 per cent in March 2024. Power generation growth also eased, from 8.6 per cent to 6.3 per cent. Aditi Nayar, Chief Economist at Icra , noted that while there was slight improvement in electricity and manufacturing growth, these gains were offset by the slowdown in mining. She said, "In sequential terms, the improvement in YoY (year-on-year) growth of electricity and mild uptick in that of manufacturing was offset to a large extent by the dip in the growth of mining". "Looking ahead, while there is some evidence and commentary around frontloading in exports to the US, we need to see whether this is driven by redirection away from other geographies or a bump up in output in the ongoing month," she added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pernas e pés inchados: Experimente isso para ajudar a drenar o fluído do edema aartedoherbalismo Undo Additionally, the use-based classification data showed mixed results. The capital goods sector saw growth decelerating to 2.4 per cent from 7 per cent in the previous year. Consumer durables (white goods) grew 6.6 per cent, slower than the 9.5 per cent growth in March 2024, while consumer non-durables contracted by 4.7 per cent, reversing the 5.2 per cent growth a year earlier. The infrastructure and construction goods segment reported an 8.8 per cent growth, slightly up from 7.4 per cent in March 2024. Primary goods saw a modest increase of 3.1 per cent, compared to 3 per cent last year. The intermediate goods sector expanded by 2.3 per cent, down from 6.1 per cent in the previous year. In a notable change, the NSO has moved up the release date of the IIP data to the 28th of each month, reducing the lag to four weeks from the previous six-week interval, when data was released on the 12th. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
Time of India
27-04-2025
- Business
- Time of India
'Fastest-growing major economy': RBI governor Sanjay Malhotra urges US investors to bet big on India
NEW DELHI: Reserve Bank of India Governor Sanjay Malhotra on Friday made a compelling pitch to the US business community, inviting them to invest in India, which he described as a beacon of stability and growth in a volatile global economy. Speaking at the US-India Economic Forum, organized by the Confederation of Indian Industry (CII) and US India Strategic Partnership Forum (USISPF) in Washington DC, Malhotra emphasized that India remains the fastest-growing major economy, expected to clock a growth rate of 6.5% in the current financial year despite global uncertainties. 'At a time when many advanced economies are facing economic headwinds and deteriorating outlooks, India offers strong growth, stability, and long-term value," Malhotra said. Highlighting India's macroeconomic resilience, he pointed out that the country recorded an average annual growth rate of 8.2% over the past four years, a sharp rise from 6.6% during the previous decade. Malhotra underscored that India's success is built on monetary, financial, and political stability, consistent policies, and a rule-based, forward-looking ecosystem that fosters business confidence. 'India is not just an investment destination; it's a partner in prosperity,' he said, inviting American businesses to collaborate, innovate, and invest in sectors ranging from space and semiconductors to renewable energy and electric vehicles. Noting India's rapid climb from the 10th largest economy to the 5th in a decade, Malhotra said, "We are poised to become the third largest economy nominally very soon." The governor assured that India's financial sector remains robust, with scheduled commercial banks showing strong profitability, low NPAs, and ample liquidity buffers. Bank credit growth, though slightly moderated, continues to stay in double digits at around 12%. He also highlighted India's emerging role in global supply chains and its rise as a SaaS innovation hub, particularly in generative AI. "We aspire to become a developed nation—Viksit Bharat—by 2047. I am sanguine about our continued success," Malhotra concluded. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
