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Daily World Briefing, July 13

Daily World Briefing, July 13

India Gazette3 days ago
Air India crash report shows both engines shut down shortly after takeoff
Both engines of the recently crashed Air India airplane had shut down mid-air within seconds of take-off, showed a preliminary investigation report released on Saturday by the Indian Aircraft Accident Investigation Bureau (ABI).
According to Indian media, the report said that before the Flight AI-171 plane crashed, the switches controlling the fuel flow of the two engines switched from "RUN" to "CUT OFF" within a second of each other, which caused the aircraft engines to stop working. The cockpit voice recorder shows that one of the pilots asked, "Why did you cut off?" and the other pilot replies, "I didn't."
The accident report also showed that both switches were moved back to the "RUN" position and while Engine 1 showed signs of recovery, Engine 2 could not.
Trump announces 30 pct tariffs on EU, Mexican goods starting Aug. 1
U.S. President Donald Trump announced Saturday morning that 30 percent tariffs will be imposed on the European Union (EU) and Mexico as of Aug. 1.
The new tariffs were announced in the letters addressed to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum and posted on Trump's social media platform Truth Social.
Trump criticized Mexico for its "failure to stop the cartels" from smuggling drugs, including fentanyl, into the United States, and accused the country of not doing enough to cooperate with Washington in curbing illegal immigration.
In the case of the EU, the U.S. president scolded the bloc for its tariff and non-tariff barriers, which he blamed for causing "long-term, large, and persistent Trade Deficits."
EU chief slams Trump tariff threat, pledges retaliation if required
European Commission President Ursula von der Leyen warned on Saturday that Washington's decision to impose 30 percent tariffs on European Union (EU) exports risks severely disrupting transatlantic supply chains, and pledged that the EU would respond with countermeasures if necessary.
"Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers, and patients on both sides of the Atlantic," von der Leyen said in a statement.
Her comments followed an earlier announcement by U.S. President Donald Trump, who said his administration would impose 30 percent tariffs on EU exports, arguing that bilateral trade had long been unbalanced and lacked reciprocity.
Von der Leyen responded that the EU remained committed to a negotiated solution, but emphasized that the bloc would act to defend its economic interests if negotiations failed.
PKK disarmament opens "new page in history" for Trkiye: Erdogan
Turkish President Recep Tayyip Erdogan on Saturday declared "a new page" in history for Trkiye, as the Kurdistan Workers' Party (PKK) begins the disarmament process.
"As of yesterday, the 47-year-long terror scourge has entered a phase of ending. Trkiye has begun closing a long, painful chapter filled with anguish and tears," Erdogan said while addressing members of his ruling Justice and Development Party in Kizilcahamam district, Ankara Province.
On Friday, a group of PKK militants burned their weapons in a symbolic ceremony in Iraq's northern Sulaymaniyah province.
"From now on, we will sit down and talk -- not with weapons or violence, not for conflict, but for unity, fraternity, and face-to-face dialogue by removing the obstacle of terror," he said.
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‘Retail participation in capital market increased significantly'
‘Retail participation in capital market increased significantly'

Hans India

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  • Hans India

‘Retail participation in capital market increased significantly'

Mumbai: The Indian market is witnessing remarkable participation from retail investors, with a surge in demat accounts to 19.4 crore in 2025 from 3.6 crore in 2019, a senior Sebi official said on Tuesday. Meanwhile, domestic institutional ownership in listed companies has increased from 13 per cent to 20 per cent, while foreign ownership has declined from 22 per cent to 17 per cent. Speaking at an event organised by IVCA Renewable Energy Summit 2025, Dr. Ruchi Chojer, Executive Director at Sebi, said that trust is the cornerstone of investment, and India has earned that trust. 'At Sebi, our regulatory approach has focused on balancing capital formation with systemic stability and investor protection. Trust is the cornerstone of investment, and India has earned that trust,' she was quoted in a statement issued by IVCA. She shared that retail participation has surged from 3.6 crore demat accounts in 2019 to 19.4 crore in 2025. Highlighting the evolution of capital markets in the country, Chojer said that over the last three decades, India's capital markets have transformed into one of the world's top 10 equity ecosystems-- resilient, inclusive, and increasingly driven by domestic participation. In the last 10 years alone, Indian companies have raised nearly Rs 93 lakh crore through equity and debt, with FY 2024–25 witnessing a record Rs 4.3 lakh crore in equity issuance, including Rs 1.7 lakh crore via IPOs. 'This growth is powered not just by policy and infrastructure, but by deepening investor trust,' she said. Additionally, she spoke aon the importance of capital markets in India's clean energy journey. 'As India undertakes its green transition, the role of capital markets and particularly alternative investment funds (AIFs) will be critical. Financing long-gestation sectors like grid modernisation, storage, and transmission requires patient and risk-tolerant capital. Sebi has already enabled blended finance structures, allowing philanthropic and multilateral capital to invest through junior units in AIFs. This is a vital step in unlocking capital for the energy transition,' she said. Also, she stressed that India's clean energy transition cannot be driven by listed companies alone and AIFs must play a key role in driving ESG adoption among unlisted investee companies, especially as 40 per cent of AIF capital comes from foreign investors who expect alignment with global disclosure standards. 'We are open to proposals for ESG-labelled AIF categories, and we believe well-structured tax incentives can further catalyse investment into sectors with long-term impact and higher risk profiles,' she said. Looking to the future, she noted, 'India will need an estimated USD 250 billion by 2030 to finance renewable energy, storage, and transmission.

ISMA urges govt to maintain fuel ethanol import restrictions
ISMA urges govt to maintain fuel ethanol import restrictions

Hans India

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  • Hans India

ISMA urges govt to maintain fuel ethanol import restrictions

New Delhi: The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has urged the government to maintain restrictions on fuel ethanol imports, warning that allowing such imports could undermine national energy security and self-reliance in green fuels. The industry body expressed concern as the United States, backed by its farm lobby groups, has been actively lobbying India to lift these restrictions and allow ethanol imports for fuel use as part of broader trade negotiations, hoping to access India's large ethanol fuel market. Negotiations are ongoing, with Indian commerce officials engaging US counterparts, but no policy changes allowing fuel ethanol imports have been implemented as of this month. ISMA Director General Deepak Ballani, in a letter to Commerce Minister Piyush Goyal, demanded that the government maintain current restrictions on fuel ethanol imports for blending purposes and continue supporting indigenous ethanol production. Ballani also requested the government reassure stakeholders on "policy stability," thereby encouraging continued investment and farmer-centric development.

India should prioritise a service-focused trade deal with US: NITI Aayog report
India should prioritise a service-focused trade deal with US: NITI Aayog report

United News of India

time13 minutes ago

  • United News of India

India should prioritise a service-focused trade deal with US: NITI Aayog report

New Delhi, July 16 (UNI) NITI Aayog (National Institution for Transforming India), apex public policy think tank of India, revealed its 'Trade Watch Quarterly' publication for the third quarter of the Financial Year 2025. The focus of this edition is on measuring the implications of tariffs imposed by the United States on India's export competitiveness. Dr Arvind Virmani, Member of NITI Aayog, released the edition and congratulated the entire team for providing in-depth insights about the latest trade turbulence and India's status in the current trade evolution rounds. He also pointed towards the rising competitiveness, innovation, and strategic efforts to expand India's presence in key markets such as the United States. This report presented a data-driven picture of current economic health, including the Quarter 3 merchandise exports grew to the mark of 3pc (approx $108.7 billion), service surplus growth of $52.3 billion. The growth of the service sector is driven by a 17 pc growth in India's service exports. This also shows the optimism of global consumers in the Indian economy. India also emerged as the world's fifth-largest exporter with an investment of $269 billion in Digitally Delivered Services (DDS). The Trade Watch Quarterly report also highlighted that India can leverage the opportunity to expand its footprint in the US market. It's especially for the sectors such as pharmaceuticals, textiles, electric machinery, and others. The third Trade Watch Quarterly report pointed out the importance of the United States as a key trade destination for India. The report suggested some policy shifts, including targeted export promotion, deep integration into global value chains, and service-focused trade agreements. The report also highlighted the key sectors, including digital trade and cross-border data flows, including agility in policymaking on making new trade alignments. This thematic edition serves as a base for policymakers, industry, and academia to prioritize key policies regarding trade. UNI SAS PRS

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