
Andhra introduces stricter NOC system for hazardous industries following tragic explosion
The move comes in the wake of the tragic explosion at Sigachi Industries in Pashamylaram village, Telangana, which claimed at least 36 lives and left many others injured.
'The new NOC policy will be grounded in expert-led inspection reports and security audits,' Pratap said.
He added that the department had already escalated safety concerns to higher authorities and issued notices to all pharmaceutical and chemical factories handling hazardous materials, directing them to conduct comprehensive risk assessments and safety audits.
The revised policy makes it mandatory for industries to engage certified experts and agencies for their assessments. Agencies such as Hazard Analysis and Risk Assessment (HARA), Quantitative Risk Assessment (QRA), Petroleum and Explosives Safety Organisation (PESO), Oil Industry Safety Directorate (OISD), Boiler Inspectors, Mines Safety Officers, and solvent handling authorities will serve as official third-party evaluators.
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Time of India
2 hours ago
- Time of India
US Stock Markets Gainers Losers: Take a look at biggest stock movers on Tuesday
Wall Street extended its losses on Tuesday as investors reacted to fresh tariffs and executive actions announced by US President Donald Trump. New policy changes affected various sectors, including solar energy, electric vehicle technologies and telecom. The Dow, S&P 500, and Nasdaq futures traded lower as volatility remained high across markets. US Stock Markets Fall Futures for US stock indices showed declines on Tuesday morning. The Dow futures were down by 110 points. The S&P 500 futures dropped by 15 points, and Nasdaq futures decreased by 25 points. These moves followed a sharp fall on Monday, when the Dow Jones had dropped over 400 points. President Donald Trump announced tariffs on imports from 14 countries including Japan, South Korea, Myanmar and Bangladesh. The White House confirmed that more letters would be issued in the coming days. The official imposition of tariffs has been delayed until August 1 through a presidential declaration. The US Dollar index rose after the announcements, while crude oil and gold prices also rebounded slightly. Also Read: AP Exam Scores 2025: How to check results online? See release date, rescore request process Live Events Market Gainers Wolfspeed Wolfspeed (NYSE: WOLF) shares jumped 17% on Tuesday. This followed Monday's 96% surge. The chipmaker announced the appointment of Gregor van Issum as its new Chief Financial Officer. He will take over the role from interim CFO Kevin Speirits starting September 1. Van Issum brings experience from companies like ams-OSRAM and NXP. The leadership change is part of Wolfspeed's effort to strengthen its position in the silicon carbide market for electric vehicles and AI data centers. Enovix Enovix (NASDAQ: ENVX) shares added 2% to gains from the previous day. The battery technology company issued positive guidance for the second quarter. It now expects an adjusted loss of $0.15 per share on $7.5 million revenue, better than market estimates. Enovix also forecasted a $21.4 million adjusted EBITDA loss, which was an improvement from earlier predictions. Northland Securities reaffirmed its Outperform rating with a $25 price target. The company also launched its new AI-1 battery for next-generation smartphones. Humacyte Humacyte (HUMA) shares rose by 14%. The company received Electronic Catalog (ECAT) approval for its bioengineered tissue product, Symvess, from the US Defense Logistics Agency. This designation allows Department of Defense and VA facilities to access the product for treating military personnel and veterans. Also Read: Sullivan's Crossing: Seasons 1 and 2 Netflix US release date, plot and where and how to watch Season 3 Market Losers Ciena Ciena (NYSE: CIEN) dropped 4% after Morgan Stanley downgraded the stock from Equal-weight to Underweight. Analyst Meta Marshall cited limited earnings potential in the near term and weak margin outlook. The firm issued a price target of $70 for Ciena, indicating a possible 13% downside. The analyst expressed a preference for Coherent over Lumentum in the same sector. Solar Stocks Solar companies were among the biggest losers. Sunrun (RUN) fell 10%, First Solar (FSLR) dropped 4%, and Enphase (ENPH) declined 6%. These losses followed President Trump's executive order to eliminate green energy subsidies. The order instructed the Treasury and Interior Departments to roll back tax benefits for wind and solar energy projects. It cited concerns related to energy security, reliability, and foreign dependency. This policy is aligned with the 'One Big Beautiful Bill Act,' which focuses on strengthening domestic energy resources and removing market imbalances. FAQs What caused solar stocks to drop on Tuesday? Solar stocks declined after President Trump signed an executive order to end subsidies and tax breaks for green energy projects, affecting investor sentiment and stock prices. Why did Wolfspeed stock rise again on Tuesday? Wolfspeed stock gained after naming a new CFO, following Monday's strong rally tied to leadership changes and growth in silicon carbide technology for EVs and AI.
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First Post
4 hours ago
- First Post
How Japan's efforts to pacify Donald Trump on tariffs failed
Japan initially promised to invest $1 trillion in the United States in a move to avoid tariffs and woo President Donald Trump. However, despite showing early signs of progress, the efforts backfired, with Washington now threatening to impose a 25 per cent tariff on Japanese imports from August 1. What is the way out for Tokyo now? read more Some Japanese officials believe Tokyo will have to change tack and consider lowering barriers on farm imports to appease Trump. Fiel image/Reuters When Japanese Premier Shigeru Ishiba first met Donald Trump in February, his plan to placate the protectionist president's long-held frustration with Tokyo on trade was a promise to invest $1 trillion in the United States. It appeared to work. The pledge was hailed by Trump, who said at the time he did not expect 'any problem whatsoever' in reaching a trade deal with Japan, citing their 'fantastic relationship'. In the months since, Tokyo's trade negotiators stuck to that strategy to avoid lowering barriers for imports of politically-sensitive products such as rice ahead of a dicey July 20 election, said four Japanese government sources with knowledge of the talks, who spoke on condition of anonymity. STORY CONTINUES BELOW THIS AD But despite showing early signs of promise, the efforts backfired spectacularly, leaving negotiators with little time and few palatable options left to avert levies set to strain the world's fourth-largest economy, the sources added. After calling Japan 'spoiled' in social media posts last week that accused Tokyo of reluctance to buy US rice, Trump notified Ishiba on Monday that Washington would impose tariffs of 25 per cent on Japanese imports from August 1. US president Donald Trump. AP File 'It's a sign of Trump's frustration,' said Kazuhiro Maeshima, a specialist in American government and foreign policy at Tokyo's Sophia University. 'Japanese companies will need to find ways to manage their businesses in a way that does not depend on the United States.' A spokesperson for Japan's cabinet office, which oversees US tariff matters, declined to comment on Reuters' specific questions related to negotiations. Tokyo will continue to seek a pact with the United States 'that benefits both countries, while protecting Japan's national interests,' Ishiba told a cabinet meeting in televised remarks on Tuesday. The US embassy in Japan referred questions on tariffs to the White House, which could not immediately be reached for comment. How went south Japan, the largest foreign investor in the United States and one of its biggest trade partners, was among the first countries to engage Washington in tariff negotiations after Trump announced sweeping trade duties on April 2. STORY CONTINUES BELOW THIS AD Led by one of Ishiba's closest confidants, Economy Minister Ryosei Akazawa, Tokyo's negotiators pledged investments in sectors such as energy and steel during seven visits to Washington between April and June, the sources said. In return, they aimed to get Washington to drop tariffs on the automotive sector, which employs one in ten of Japan's workers and accounts for a fifth of overall exports. They also hoped it would head off any US demands for Japan to drop its own levies on agricultural products such as rice, moves opposed by rural voters as an election loomed. Japan, an ally of the United States was one of the first countries to open negotiations with Trump on a possible trade deal. File image Polls show Ishiba's ruling coalition is at risk of losing its majority in the upper house vote, which could cast doubt over his shaky government and his own political future, analysts say. Tokyo's negotiators believed they were making progress and had found a sympathetic ear in Commerce Secretary Howard Lutnick, with whom Akazawa regularly spoke in Washington and by telephone. STORY CONTINUES BELOW THIS AD In his public remarks, Akazawa repeatedly said the two sides aimed for a deal by the time Ishiba and Trump were due to meet for a second time on the sidelines of the G7 meeting at Kananaskis in the Canadian Rockies, from June 15 to 17. But as the date neared, his optimism appeared to wane. 'It feels like we're still in a dense fog,' he told reporters on June 10, shortly before he left for Washington. When the leaders met in Canada, Trump appeared tired and disinterested and neither spoke much about trade, deferring to their cabinet ministers, said a source with knowledge of the meeting. Afterwards, Ishiba told reporters the meeting had confirmed 'discrepancies in our understanding'. Two weeks later, Trump took to Truth Social in frustration. 'To show people how spoiled countries have become with respect to the United States of America, and I have great respect for Japan, they won't take our rice, and yet they have a massive rice shortage,' he said. STORY CONTINUES BELOW THIS AD Trump wrote on Truth Social in frustration week after G7 meet, 'To show people how spoiled countries have become with respect to the United States of America, and I have great respect for Japan, they won't take our rice, and yet they have a massive rice shortage.' File image/ Reuters Some Japanese officials believe Tokyo will have to change tack and consider lowering barriers on farm imports to appease Trump. Others, including Tokyo's top trade negotiator Akazawa, have said Washington must reduce tariffs on Japan's vital automotive sector if a broader deal is to be reached. But first Ishiba must face his public, some of whom are growing increasingly frustrated by the lack of progress. 'Given the tariffs number that we got, frankly it makes me wonder what all the past negotiations were for,' said Hidetoshi Inada, 64, speaking outside Tokyo's Shimbashi station on his way home from his office job for a telecoms firm. 'The outcome is everything,' he said.
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First Post
5 hours ago
- First Post
How India is an exception as Donald Trump slaps new tariffs on Asian nations
US President Donald Trump has yet again said that the deal with India is close. His remarks come even as the US began sending letters to 14 nations, most of them in Asia, about higher tariffs being imposed from August 1 if no trade deals are made. Japan and South Korea will face tariffs of at least 25 per cent if no pact is sealed read more President Donald Trump shakes hands with Prime Minister Narendra Modi in the Oval Office of the White House. File image/AP India is negotiating hard with the United States over a bilateral trade agreement (BTA). US President Donald Trump has yet again said that the deal with India is close. 'We've made a deal with the United Kingdom, we've made a deal with China, we've made a deal - we're close to making a deal with India…Others we met with, we don't think we're going to be able to make a deal. So we just send them a letter', Trump said at the White House. STORY CONTINUES BELOW THIS AD Trump made the remarks even as the US began sending letters to 14 nations, most of them in Asia, about higher tariffs being imposed on August 1 failing a deal not being reached with the United States. Trump had earlier set a deadline of July 9 for countries to reach deals with the United States. 'We're sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending if they have a cause, we're not going to be unfair about it,' the US President said. India was not among the 14 nations named. But what do we know about the trade deal with India? Why does Trump need such a deal? And what about the tariffs on other Asian nations? Let's take a closer look: Trade deal with India The trade deal with India is said to be in the offing. According to reports, the deal could be signed in the next 24 to 48 hours. The average tariff under the agreement could be around 10 per cent. Indian negotiators are said to have offered the US substantial market access for their products. Tariffs on pecan nuts and blueberries are likely to be lowered. STORY CONTINUES BELOW THIS AD This does not include India's sensitive dairy and agriculture industry. India has never opened up its dairy industry to a foreign company. When it comes to agriculture, India is worried that foreign firms could upset its minimum sales price (MSP) mechanism and is insistent on protecting its farmers. The US in turn has offered India lower tariffs on certain labour-intensive products such as textiles and footwear. The US wants to sell genetically modified (GM) crops and soybean in India – the latter of which India has been extremely reluctant to sell. New Delhi has also pushed back against the US demand to export cow milk to India. Sources have said that India has given the US its final proposal and the ball is now in Washington's court. An official told The Hindu that the deal could come today or 'in a day or two'. Sources have said that India has given the US its final proposal and the ball is now in Washington's court. A second source added that India could push the date to the August 1 window 'if the deal specifics do not suit us'. India has repeatedly said that there can be no compromise in a trade deal when it comes to its national interest. STORY CONTINUES BELOW THIS AD 'India does not negotiate under deadlines. We negotiate keeping national interest in mind, and national interest is paramount in all our engagements across the world,' Goyal said on Saturday. 'After the Modi government came to power, we have signed free trade agreements with Mauritius, the United Arab Emirates, Australia, and the four-nation EFTA (European Free Trade Association) grouping—Switzerland, Norway, Iceland, and Liechtenstein—and now with the UK last month.' 'Today, India negotiates from a position of strength. We are self-confident and can compete with anybody in the world. This is not the weak India under Congress and the UPA, which signed agreements that were not in the national interest,' he claimed. Goyal on Friday said Free Trade Agreements are possible only when both sides benefit and involve a win-win. 'National interest should always be supreme. Keeping that in mind, if a deal is made, then India is always ready to deal with developed countries,' he said. STORY CONTINUES BELOW THIS AD Hindustan Times quoted Mark Linscott, a former assistant US trade representative for South Asia, as saying that an agreement in principle has likely been reached. Linscott, who is currently a senior adviser at the Asia Group, said 'I think they basically sewed up what is likely to be an agreement in principle but not a legally binding agreement, in which the two sides issue a statement highlighting what is what has been agreed so far. I think then there will be continuing negotiations on the specifics for a legally binding agreement, and that's likely to be in the next few weeks.' Linscott said he was 'very hopeful' and praised both Modi and Trump. 'I think it will be a huge feather in the cap for both President Trump and Prime Minister Modi to do this, and we've got a bigger negotiation to come. This isn't the end of negotiations, it's just the start, right, and seemingly a successful start to the negotiation.' STORY CONTINUES BELOW THIS AD Union Minister Piyush Goyal on Friday said Free Trade Agreements are possible only when both sides benefit and involve a win-win. PTI Still, some are cautioning against moving too quickly to sign a trade deal with America. 'Trump's model isn't a free trade agreement, it's a YATRA - Y ielding to American Tariff Retaliation Agreement,' the Global Trade Research Initiative (GTRI) founder Ajay Srivastava has said. 'With the clock ticking, India is seen as a top candidate for a deal announcement in the coming days…But New Delhi must tread carefully', he added. Though the Trump administration promised to sign '90 deals in 90 days', that hasn't happened. Instead, Trump has signed a 'mini-trade deal' with the UK, a face-saving deal with China that buys some time and a deal with Vietnam. Trump desperately needs a deal with India to give him a win. Polls showed that his 'big beautiful bill' – which he recently signed into law – was wildly unpopular with the public. Trump's personal approval ratings are also tanking. What about the tariffs on other Asian nations? Trump has sent letters to the following nations – Japan, South Korea, Kazakhstan, Malaysia, Tunisia, South Africa, Bosnia and Herzegovina, Indonesia, Bangladesh, Serbia, Cambodia, Thailand, Laos, and Myanmar. However, some countries that lean heavily on China have been targeted including a half a dozen members of Association of Southeast Asian Nations. STORY CONTINUES BELOW THIS AD President Donald Trump with President Xi Jinping. File image/ Reuters This is the second time Trump has extended the deadline – leading some to revive the Taco (Trump always chickens out) moniker which previously angered Trump. Japan, South Korea, Thailand and Indonesia have massive trade imbalances with the United States . China allies Cambodia, Myanmar and Laos Monday's letter to the country that hosts many Chinese owned factories, reduces this rate to 36 per cent. Prime Minister Hun Manet assured the White House of Cambodia's 'good faith', with reduced tariffs on 19 categories of US products. Trump also targeted Myanmar and Laos with 40 per cent tolls. Both nations rely heavily on capital influx from China and their supply chains are closely intertwined with Asia's largest economy. Washington has repeatedly highlighted the risk of Chinese products passing through Southeast Asian countries to avoid US tariffs targeting China – a process known as 'trans-shipping'. South Korea South Korea, already burdened by levies on steel and automobiles, is facing a 25 per cent tariff hike on its remaining exports to the United States, but is cautiously optimistic for a deal. Washington 'hoped the two sides could reach an agreement before then (August 1)', South Korea's national security adviser Wi Sung-lac said after meeting US Secretary of State Marco Rubio on Monday. STORY CONTINUES BELOW THIS AD South Korea, one of the world's biggest shipbuilders, agreed to 'coordinate closely' with the United States to achieve 'tangible and mutually beneficial outcomes', he said. Japan A close US ally and its biggest investor, Japan has to deal with a 25 per cent levy on its key auto industry. It is facing similar tolls on other goods, up from 24 per cent announced in April, but better than the '30 per cent, 35 per cent or whatever the number is that we determine' threatened by Trump last week. Prime Minister Shigeru Ishiba told a cabinet meeting Tuesday that the tariff set out in the letter was 'genuinely regrettable', local media reported. The reason for not making a deal, he said, was 'the Japanese government has avoided making easy compromises, firmly demanding what should be demanded, protecting what should be protected, and has conducted rigorous negotiations'. Trump has criticised Japan for not opening its market enough to US rice and vehicles. Japan, an ally of the United States was one of the first countries to open negotiations with Trump on a possible trade deal. The Japanese government says it is defending local farmers' interests and has taken a hardline approach to talks. 'We have no intention of negotiating at the expense of agriculture,' Japan's tariffs envoy Ryosei Akazawa said Tuesday. Indonesia Indonesia, facing 32 per cent tariffs, said Tuesday it was optimistic of striking a deal as chief economic minister Airlangga Hartarto headed to the United States to resume talks. With several weeks breathing room, Jakarta was 'very optimistic about the negotiation', presidential spokesman Hasan Nasbi said. Indonesia plans to increase its agricultural and energy imports from the United States to finalise an agreement, Airlangga recently told AFP. Indonesia already announced Monday it had agreed to import at least one million tons of US wheat annually for the next five years, worth $1.25 billion. Thailand and Malaysia Thailand was told it faces 36 per cent levies. Bangkok is offering more access to its market for US agricultural and industrial products, increasing its energy purchases, and boosting orders for Boeing airplanes. Acting prime minister Phumtham Wechayachai told reporters Tuesday he wanted a 'better deal', adding that 'the most important thing is that we maintain good relations with the US'. Thailand's Acting Prime Minister Phumtham Wechayachai. AFP Bangkok aims to reduce its US trade surplus by 70 per cent within five years, achieving balance in seven to eight years, Finance Minister Pichai Chunhavajira recently told Bloomberg News. Thai Airways could commit to purchasing up to 80 Boeing planes in the coming years, according to Bloomberg. Malaysia faces a 25 per cent tariff and the trade ministry said Tuesday it would continue negotiations to reach a 'balanced, mutually beneficial, and comprehensive trade agreement'. Bangladesh and other nations The world's second-largest textile manufacturer is facing a 35 per cent tariff on its goods but was hoping to sign an agreement by early July. Textile and garment production accounts for about 80 per cent of Bangladesh's exports, and supplies US brands including Vans, Timberland and The North Face. Dhaka has proposed to buy Boeing planes and boost imports of US wheat, cotton and oil. Muhammad Yunus, chief adviser of Bangladesh's interim government. AFP 'We have finalised the terms,' Commerce Ministry Secretary Mahbubur Rahman said, adding that negotiators were set to meet Tuesday. Kazakhstan (25 per cent), South Africa (30 per cent), Tunisia (25 per cent), Serbia (35 per cent), and Bosnia (30 per cent) are among the other targets of the letters made public by Trump on Monday. Indian Express quoted GTRI as warning that any such deals made by Trump do not measure up to WTO norms for Free Trade Agreements (FTAs). 'Under the Trump model, only the partner country lowers its MFN tariffs, while the US makes no reciprocal cuts. Trump lacks Fast Track Trade Authority from Congress to reduce MFN tariffs. Instead, he is offering to roll back only the 'Liberation Day' tariffs imposed in April under emergency powers — tariffs that a US federal court has already ruled unlawful. The case is under appeal, but the legal basis remains fragile,' GTRI said. With inputs from agencies