BLOCK Financial News

India has initiated an anti-dumping probe into the import of hot rolled steel products from Vietnam following a complaint by a domestic manufacturer. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'hot rolled flat products of alloy or non-alloy steel'. According to the DGTR notification, Indian Steel Association has filed an application on behalf of domestic producers — JSW Steel Ltd and ArcelorMittal Nippon Steel India Ltd — seeking initiation of an anti-dumping investigation on imports from Vietnam. The applicants have alleged that the product is being imported at dumped prices which is causing material injury to the domestic industry.

The Nirman Bhawan, located near Parliament in Lutyens' Delhi, houses the Ministry of Health besides other departments. Resident doctors are standing on the side of the road outside Nirman Bhawan, with a heavy presence of police officers who have placed barricades on both sides of the road.

Modi government on Independence Day by alleging that the ruling establishment was promoting divisive thinking and turning constitutional and institutional offices into «puppets», and said the Opposition was committed to protecting the Constitution. On Prime Minister Narendra Modi pitching for a Uniform Civil Code (UCC), Congress spokespeople said Modi terming the Hindu Code Bill as a «communal code» was like insulting Ambedkar's Constitution. They, however, skirted Ambedkar's advocacy for a UCC across communities and his pronouncements against the amendments brought in the Constituent Assembly to block application of the UCC in the Muslim community, thus limiting it as the Hindu Code. In his address at AICC's Independence Day function, Kharge also questioned RSS and Sangh Parivar's contribution to the freedom movement. «Instead of walking the path shown by them (freedom fighters), the rulers of today are encouraging divisive thinking. They mark 'Vibhajan Vibhishika Smriti Diwas' (Partition Horrors Remembrance Day) with the intention of spreading hatred. Those who did not participate in the Independence movement give advice to the Congress party and without any contribution want to get counted among the martyrs,» he said.

China says it will restrict exports of a mineral used in a wide range of products from batteries to weapons

Montana Republican Gov. Greg Gianforte reported more than $23 million in income over four years ending in 2022 as the former technology executive seeks reelection to a second term

Ola Electric, FirstCry and Unicommerce, which went public this month, have boosted the worth of Japanese technology investor SoftBank’s stakes in these companies to almost Rs 16,000 crore, or nearly $2 billion, based on the latest stock prices of these three companies. SoftBank has already realised around $400 million, or around Rs 3,300 crore (at current exchange rates), from secondary stake sales in the three companies. SoftBank had invested more than Rs 4,100 crore in FirstCry, which listed at a premium of 40% on the National Stock Exchange (NSE) Tuesday to the issue price of Rs 465 apiece.

Olympics and baseball is heading toward another reconciliation in 2028. That leads to the inevitable discussion of what the rosters could look like. Commissioner Rob Manfred said last month he was open to the possibility of major leaguers participating, but recent history suggests some obstacles. Baseball was dropped after the 2008 Games, returned in 2021 in Japan, then was left out this year in Paris.

Essar Oil and Gas Exploration and Production will invest up to ₹3,000 crore on its flagship coal bed methane (CBM) block in Raniganj, West Bengal to raise gas production, a senior company executive said. «We are determined to raise our contribution to India's overall gas output to 5% in the next five years from 1% currently. We plan to invest around ₹3,000 crore to reach this target,» said Pankaj Kalra, CEO of Essar Oil and Gas Exploration and Production. Kalra added that the company has an acreage of 500 sq km, of which it has only harnessed 70 sq km. «So over 80% is still to be harnessed.»

critical minerals industry. The funding illustrates the efforts India is making to get the critical mineral industry off the ground and cut the country's near-total reliance on imports of lithium and rare earths mineral that are key to energy transition technologies. So far, India's attempts to create a critical minerals mining industry have faltered. The country awarded development rights in June to a lithium block in Chhattisgarh state but a separate attempt to auction lithium blocks in Jammu and Kashmir found no takers because of low mineral concentration and high extraction costs.

Central and state authorities will launch a two-month-long nationwide drive against fake goods and services tax (GST) registrations to weed out bogus entities used for evading tax, showed an official order from the Central Board of Indirect Taxes and Customs (CBIC). The drive, which will run from 16 August to 15 October, seeks to detect suspicious or fake GST registrations and conduct thorough verification to weed out entities engaging in fake invoicing, according to the order.

The South Korean crypto exchange GOPAX has secured an eleventh-hour reprieve that will let it continue trading fiat parings, thanks to a “temporary” banking deal.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Max Estates, the property arm of the MaxGroup, has received approval from the Noida authority to overtake a commercial project in sector 16B Noida, by clearing Rs 613 crore dues of the authority. In February 2023, the National Company Law Tribunal (NCLT) approved the resolution plan of Max for the development of a commercial plot measuring 34,697 square meters in Noida under the project name ‘Delhi One’. The NCLT had asked the developer to seek the authority's approval for the implementation of the plan.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Current and former Cash App users could be eligible for a hefty piece of a proposed class-action settlement from the popular online payment service

Residents of a tiny village in western Serbia don’t care if their government has agreed with the European Union to open a lithium mine in their sprawling valley: They say it is never going to happen

Tens of thousands of protesters have rallied in downtown Belgrade against lithium mining in Serbia

Turkey blocked access to the social media platform on Aug 2 for failing to comply with the country's «laws and rules» and public sensitivities. A top Turkish official accused Instagram of blocking condolence posts over the assassination of Ismail Haniyeh, leader of the Palestinian militant group Hamas.

Hindenburg controversy was over, the whistleblower who makes money by short-selling shares and bonds of its target companies has added a fresh twist to the unending saga by claiming that Sebi chief Madhabi Puri Buch and her husband had a stake in offshore entities linked to the Adani family. The allegations come one-and-a-half months after Sebi issued a show-cause notice to Hindenburg for violating Indian market regulations and profiting by taking short positions.

Congress Committee (BPCC) on Saturday announced a statewide agitation from August 12 in protest against the Centre's refusal to grant special category status to the state. Bihar Congress chief Akhilesh Prasad Singh said, «The denial of special category status to Bihar is gross injustice. The party will not tolerate this stepmotherly treatment. The BPCC will launch a statewide agitation from August 12, including dharnas outside block and district magistrate offices on August 13 and 14.» Singh added that the party will outline its further agitation plans after August 14. He highlighted that Chief Minister Nitish Kumar has been advocating for special category status since 2005. «Despite being an alliance partner in the NDA government, Kumar failed to secure this status for the state,» he added.

Buyout group CVC Capital Partners, one of the largest European private equity groups, has trumped EQT to emerge as the highest bidder for to acquire affordable housing finance company Aavas Financiers Ltd (formerly known as AU Housing Finance Ltd) as its current promoters, private equity firms Kedaara Capital and Partners Group are looking to exit their 8 year old joint investment, said people in the know. A formal announcement is expected this weekday, latest by Monday. CVC and EQT were the two final contenders as the third Bain Capital decided to go slow.