COST Financial News

New Delhi: State-owned Steel Authority of India Ltd (SAIL), the largest steel producer in the country, is ensuring it has adequate coking coal stock through imports from Russia and will complete imports of 300,000 tonnes from Russia by the end of this month. The company is looking to bring in 3,00,000 tons of coking coal by the end of this quarter (July – Sept), Amarendu Prakash, Chairman of SAIL, told Mint on the sidelines of the Indian Steel Markets conference here today. “It is a continuous thing; we buy from them continuously.

Fireblocks, the crypto company backed by Sequoia Capital and Coatue Management, has acquired BlockFold, a Melbourne-based startup that helps financial institutions build blockchain-based systems, people with knowledge of the matter said.

International Monetary Fund on Thursday underscored its concerns about global trade breaking into separate blocs, saying such developments could reduce global economic output by 7%. «We believe that that would be costly for the global economy,» IMF spokesperson Julie Kozack told reporters at a regular briefing.

The Biden administration is moving to make it easier for caregivers to take in family members in the foster care system, requiring states to provide them with the same financial support that any other foster home would receive

Hawaii’s top public utility officials and the president of Hawaiian Electric are expected to testify in a congressional hearing about the role the electrical grid played in last month’s deadly Maui wildfire

Sales of new U.S. homes hit a 5-month low last month as sky-high mortgage rates continue to strain prospective homebuyers’ ability to afford a dwelling

Hawaii’s top public utility officials and the president of Hawaiian Electric are expected to testify in a congressional hearing about the role the electrical grid played in last month’s deadly Maui wildfire

Restrictions on food exports are spilling over from rice and wheat to other essentials

One thing Tesla’s lovers and haters might agree on is that its valuation doesn’t have much to do with making cars. What the electric-vehicle pioneer is worth is one of the hottest questions in the stock market. We know this because the daily trading volume in its shares exceeds that of any other U.S.

The pace of the global transition to electric power depends on the future of a remote region in Canada known as the Ring of Fire. Located underneath a distant, swampy expanse of spruce forests and meandering rivers in Northern Ontario that is cut off from major roads, the Ring of Fire is seen by industry and government officials as one of the world’s most important untapped sources of nickel, copper and cobalt—metals essential for making the batteries that power electric vehicles.

U.S. oil prices soared Wednesday to their highest level in more than a year. Most frackers plan to stay on the sidelines.

When Shellie and Perry Pardoe moved from northern Utah to Salt Lake City, they quickly realized that as empty-nesters, they didn’t need all five bedrooms in their house. But they did look forward to visits from their seven grandchildren and other young members of the family. So they spent about $30,000 to turn one of the bedrooms into a “fantasy reading forest" playroom for the grandkids, complete with treehouses, a climbing wall and a hideaway with two swinging hammocks.

oil prices nearing $100 a barrel compounded concerns about persistently high global interest rates. There was brief respite from the dollar's strength in currency markets [/FRX], but it was Wednesday's big drop in U.S. crude stocks that heightened nerves about another supply-side shock just when the global economy needs it least. U.S.

IAMAI) on Thursday once again countered the Telecom Regulatory Authority of India's (TRAI) proposal on selective banning of OTT or internet services, saying such demands for imposing revenue sharing mechanisms between Internet companies and telecom services providers (TSPs) «smack of rent-seeking». According to IAMAI members, by requiring «largest» OTT service providers to pay TSPs for data used by consumers, TSPs would effectively be charging twice for the same service — as they already charge consumers for data.

PTI reported. Road Transport and Highways Secretary Anurag Jain, who briefed the reporters along with Gadkari in New Delhi, said the ministry has done the mapping of the entire national highways length of 1,46,000 kilometres and is firming up performance-based maintenance and short-term maintenance contracts to remove potholes by December this year. For the upcoming highway construction projects, the government is likely to issue contracts under the Built-Operate-Transfer (BOT) mode, as Gadkari suggested that highways developed under this model are considered to be more resilient and adequately maintained.

By MacDonald Dzirutwe and Libby George

De Grey Mining says it is now in a stronger position to secure funding despite a near 30 per cent jump in the cost of building Australia’s next big gold mine.

US investment-grade bonds have swung to a loss for the year as the Federal Reserve’s determination to raise interest rates to counter inflation spreads pain across debt markets.

hot inflation, but the American singer seems an unlikely macroeconomic force. Hotel prices surged in Sweden when 46,000 fans flocked to the capital, Stockholm, for the pop star’s tour in May. The country’s consumer-price index hit 9.7% that month, higher than expected.

If you want a sustainable, long-lasting growth for the real estate industry, it has to be an overall participation and that comes from the bottom of the pyramid, says Prashant Thakur, Regional Director & Head of Research, Anarock Group. Edited excerpts: There is a big scheme in the offing from the government side. A $7.5 billion worth of scheme to give the further fillip to urban middle class. Will this really give a lot of push to the realty sector, which is already in massive momentum? How long and potential could this be? There has been a good upsurge in the overall sales but what we have seen is that while the upper segment is doing quite well, the lower and affordable segment has been kind of lagging behind, and there are a couple of reasons behind it. While the rise in interest rate did not impact the upper and mid-upper too much, the affordable segment got impacted because of interest rate increase; the home loan eligibility of these borrowers came down because most of them work in either unorganised sector or they do not have a steady income source, I am talking about buyers of affordable housing.

energy storage is essential to enable the renewables growth Prime Minister Narendra Modi has promised, but so far incentives have been lackluster, according to the head of California-based Energy Vault Holdings Inc. The promising renewables market in India could be stifled by the high cost of power storage, which will become an essential component of the transition away from fossil fuels, Robert Piconi, chief executive officer of the company, said in a interview. Renewable electricity available at any time of the day and night “is sort of a holy grail,” Piconi said.