Air India Boeing 787-8 Dreamliner flight forced to turn back with technical issue – days after Ahmedabad disaster
A Delhi-bound Air India Boeing 787-8 Dreamliner flight has been forced to turn back on Monday after the aircraft's pilot said the jet was facing technical issues mid-air.
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Reuters
9 minutes ago
- Reuters
India's IndusInd Bank sends CEO shortlist to central bank for approval, sources say
MUMBAI, June 30 (Reuters) - India's IndusInd Bank ( opens new tab has shortlisted three senior bankers - Rajiv Anand, Rahul Shukla, and Anup Saha - for the position of CEO and submitted their names to the central bank for approval, two sources told Reuters. IndusInd Bank took a $230 million hit in the year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April. The Reserve Bank of India (RBI), which has the final say in top appointments at banks, had asked for names of potential replacements by June 30. The board has suggested a three-year term for the chief executive, one of the sources said. The sources declined to be identified as they were not authorised to speak with the media. IndusInd Bank, RBI and Saha did not reply to a Reuters email seeking comment. Anand and Shukla did not reply to WhatsApp messages. Anand, a veteran banker, is currently the deputy managing director at private lender Axis Bank, and has held key management positions at leading global financial institutions. Shukla, who is currently on sabbatical, is group head at India's biggest private lender HDFC Bank, with over 30 years of work experience. Saha is the managing director of Indian non-bank lender Bajaj Finance and has served for 25 years in the financial services industry. "Rajiv Anand's name has been given as first priority by the board, given his reputation and the experience he brings to the table," one of the sources said. Shares of IndusInd Bank were trading 0.6% higher on Monday and are down 10% so far in 2025.
Daily Mail
24 minutes ago
- Daily Mail
China pushes back on Australia's growing military budget
China has warned Anthony Albanese not to increase defence spending, claiming both countries are 'friends, not foes'. Xiao Qian, China's top diplomat in Australia, has criticised US President Donald Trump 's push for Western allies to increase defence spending. Following last week's NATO meeting, all member nations - apart from Spain - agreed to lift defence spending to five per cent of GDP over the next decade. Trump, who has threatened Spain with retaliatory tariffs , has signalled he expects Australia to follow suit by increasing defence expenditure, but Albanese is so far holding firm. Now, Mr Qian has ramped up the pressure on the Australian Prime Minister to keep military spending down to its current level, which aims to reach 2.3 per cent of GDP over the next ten years. Without explicitly naming the United States, Mr Qian slammed the 'so-called China threat narrative', while painting Chinese President Xi Jinping as a man of peace. 'Such rhetoric and actions are steeped in Cold War mentality, blatantly creating division, fuelling a global arms race as well as threatening world peace and stability, which warrants our high vigilance,' he wrote in The Australian . 'By playing up international and regional tensions and slandering China's normal military build-up, these countries are merely seeking nothing but excuses to drastically grow their military spending, even arbitrarily reaching beyond its geographical scope and mandate.' Mr Qian accused the US of wanting to 'maintain their hegemony' by stifling the 'development and advancement of countries such as China'. He also sought to appeal to Albanese's domestic pressures, claiming an increase in defence spending would come at a high price, especially during the cost of living crisis. 'Dramatically increasing military spending places a heavy fiscal burden on the countries involved, undermining their efforts to boost economies and improve livelihoods, and further straining a global economy already struggling with weak recovery,' he said. Mr Qian also claimed China had 'never initiated a war or occupied an inch of a foreign land' over the last 70 years - despite invading Vietnam in 1979. 'China unwaveringly adheres to a defensive national defence policy, with military spending accounting for just 1.5 per cent of its GDP,' he added. 'It is far below the global average and paling in comparison to certain hegemons or their allies and partners.' Mr Qian talked up China and Australia's reliance on one another as trade partners - a relationship that has thawed significantly under Albanese's Labor administration. 'As I often hear from Australian friends, "we have hundreds of reasons to be friends, and none to be enemies",' he wrote. Mr Qian added that China and Australia are 'friends, not foes'. 'This should never have been in question,' he said. 'China has been always developing bilateral friendship and co-operation with the utmost sincerity and patience, and we hope Australia will work with us in the same direction.' Albanese rejected the Chinese diplomats calls to reduce defence spending. 'The Chinese ambassador speaks for China. My job is to speak for Australia,' Albanese told reporters on monday. 'And it's in Australia's national interest for us to invest in our capability and to invest in our relationships, and we're doing just that.' Trump indicated last week that he expects his allies in the Asia-Pacific - including Australia - to increase their defence funding in line with NATO members. 'Yeah, look, if our allies in Europe and our NATO allies can do that, I think our allies and our friends in the Asia Pacific region can do it as well,' White House press secretary Karoline Leavitt said on Friday. Ms Leavitt said she would leave the 'specific relations and discussions' for individual countries to Trump. This means that Albanese may be pressured to increase defence spending if he hopes to secure a carve-out from the punishing tariffs imposed by the US on imports, including a 50 per cent levy on steel and aluminium.
BBC News
28 minutes ago
- BBC News
China partially lifts ban on Japanese seafood imports
China has lifted a ban on seafood imports from most regions of Japan, which was imposed two years ago due to concerns over the release of treated waste water from the Fukushima nuclear said it will "conditionally resume" the imports from Japan with the exception of 10 of the country's 47 prefectures, including Tokyo and Fukushima. Samples collected over long-term monitoring of nuclear-contaminated water from Fukushima had "not shown abnormalities", China's General Administration of Customs wrote on 29 June.A tsunami in 2011 flooded three reactors of the Fukushima plant in north-east Japan in what is regarded as the world's worst nuclear disaster since Chernobyl. Three of six nuclear reactors at the plant suffered a meltdown during the tsunami, leaving the facility severely damaged. Over the years more than a million tonnes of treated waste water accumlated there. In 2023, Japan began discharging the treated waste water into the ocean - a move backed by the International Atomic Energy Agency. The process is expected to take up to 30 most experts agree that the release is safe, some scientists say there isn't enough research yet on the potential impact on the ocean. But Beijing criticised Japan's decision and almost immediately banned seafood from the country, citing environmental concerns and safety fears. Before that, China had been Japan's biggest seafood buyer accounting for nearly a quarter of its exports. Japan has said that China's move to partially lift the ban was a "positive" move, adding that the government will continue to urge Beijing to accept seafood imports from all of its regions. The decision came after Tokyo promised to ensure the safety and quality of its exports. Production companies that had suspended imports must now reapply for registration in China and would be subject to supervision, officials said. China and Japan are key trading partners but have long had a testy relationship because of territorial disputes and Japan's occupation of parts of China in the past.
