Vopak and Aegis' joint venture starts trading on Indian stock exchanges
The transaction will result in an exceptional dilution gain of around 110 million euros ($125.1 million) to be recorded by Vopak in the second quarter, the group said.
($1 = 0.8797 euros)
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Reuters
12 minutes ago
- Reuters
Trump says US to impose 25% tariff on India from Aug 1
WASHINGTON, July 30 (Reuters) - U.S. President Donald Trump said on Wednesday that United States will impose a 25% tariff on goods imported from India starting on Aug. 1. Trump said India will also face an unspecified penalty on Aug. 1, but he did elaborate on the amount or what it was for. "While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote in a Truth Social post. "They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!" India's commerce ministry, which is leading the trade negotiations with the U.S., did not immediately respond to a request for the comment.
BBC News
14 minutes ago
- BBC News
Air India: Watchdog audit reveals 51 safety violations at the airline
India's aviation regulator has uncovered 51 safety violations at Air India during the past year, as part of its annual audit of the country's unrelated to last month's Air India Boeing 787 crash that killed 260 people, the findings come amid renewed scrutiny of the airline after the safety-related lapses were of the highest level, the auditors said, but did not provide India said the airline was "fully transparent" during the Directorate General of Civil Aviation's (DGCA) July audit, which was part of routine checks to improve systems. Regular audits are standard for all airlines to assess and improve their processes, an airline spokesperson said. "We acknowledge receipt of the findings and will submit our response to the regulator within the stipulated time frame, along with the details of the corrective actions taken," the spokesperson added The voices in the cockpit fuelling controversy over Air India crashRead the preliminary reportAre India's skies safe? Air safety watchdog responds amid rising concernsIndia's aviation regulator flagged 263 safety issues across eight commercial airlines in its annual audit, including 44 Level 2 and seven Level 1 findings at Air India. Other airlines with notable findings included Alliance Air (57), Ghodawat Star (41), Quick Jet (35), IndiGo (23), and SpiceJet (14).According to the UN's International Civil Aviation Organization (ICAO) whose standards guide Indian audits, Level 1 findings indicate non-compliance that "lowers safety or seriously endangers safety."These could trigger immediate action - including suspension, restriction or even revocation of the airline's 2 findings are less critical but still safety-related - these are non-compliances by the airlines that "could lower or possibly hazard safety".Airlines are given up to three months to implement corrective actions, which may be extended if the regulator approves the action of Air India's specific lapses in the latest aduit remain unclear. But a government report cited by Reuters highlights the airline's inadequate pilot training, use of unapproved simulators, and poor rostering. Officials flagged "recurrent training gaps" for some Boeing 787 and 777 pilots missing mandatory monitoring duties, according to a separate statement the DGCA said that it conducted regular audits under its 'Annual Surveillance Plan' to identify safety gaps and drive improvements. Based on ICAO standards and global best practices, these audits "ensure compliance" and enhance airline operations across the board, the regulator said."It should be emphasised that, for airlines with extensive operations and large fleet sizes, a higher number of audit findings is entirely normal," the regulator added. "The quantum and scale of their activities mean that such observations reflect the breadth and depth of their operations rather than any unusual lapse. Globally, aviation regulators routinely encounter similar patterns with major carriers due to the diversity and intensity of their undertakings."Earlier this month Reuters reported that the aviation watchdog had reprimanded Air India's budget carrier in March for delaying mandatory engine part replacements on an Airbus A320 and falsifying records to show India Express told the news agency it acknowledged the error to DGCA and undertook "remedial action and preventive measures".In a recent interview with the BBC, Faiz Ahmed Kidwai, the DGCA chief, said the information in this case came through "self-reporting by the airline"."I would not condone it [the lapses]. But [at least] we have started getting these reports. This came from the airline. Action has been taken in this case. In our audits we have mandated our people to be more alert and see whether there is any lapse and bring it to our attention," he said. "India's skies have always been safe." Citing ICAO data, Mr Kidwai noted India consistently outperforms the global average for accidents per million said, "Only twice between 2010 and 2024 did we exceed the global average - both years with major accidents."In August 2020, Air India Express Flight 1344 crashed after skidding off a rain-soaked tabletop runway in Kozhikode, killing 21 people. A decade earlier, in May 2010, Flight 812 from Dubai overshot the runway in Mangalore and plunged into a gorge, leaving 158 dead. June's Air India crash was the third such accident in the country in 15 2020, Indian domestic carriers have reported 2,461 technical faults, according to the federal civil aviation ministry data. IndiGo accounted for over half (1,288), followed by SpiceJet with 633, and Air India and its subsidiary Air India Express with 389 cases, as of January 2025."Reporting of snags by airlines has gone up. This is good," Mr Kidwai said."I wouldn't say I'm pleased about it. But I do see value in the growing culture of reporting [snags]. It's far better for every snag to be brought to the attention of the authorities than keeping quiet and operating the aircraft."
The Independent
41 minutes ago
- The Independent
Donald Trump threatens ‘good friend' India with 25 per cent tariff
Donald Trump threatened to slap 'good friend' India with heavy tariffs if it didn't reach a trade deal with the US soon. Mr Trump's deadline for US trade partners to ink agreements ends on 1 August, but New Delhi is yet to finalise a deal. 'India has been a good friend, but India has charged basically more tariffs, almost more than any other country,' the US president told reporters aboard Air Force One, adding that this would come to an end. Asked if India would have to pay high tariffs on exports to the US, likely 20 to 25 per cent, Mr Trump said: 'Yeah, I think so.' 'They are going to pay 25 per cent,' CNN quoted Mr Trump as saying. New Delhi and Washington were set to resume trade negotiations next month and a deal was expected in September or October, an Indian government official told Reuters. India is banking on this deal to boost bilateral trade from $190bn to $500bn by 2030. India enjoys a trade surplus of about $46bn with the US. Mr Trump imposed a 26 per cent tariff on Indian goods in April. Although steep, the levy was lower than the total 104 per cent imposed on China, 49 per cent on Cambodia, and 46 per cent on Vietnam. The levy followed earlier tariff hikes, including a 50 per cent duty on Indian steel and aluminium, prompting New Delhi to seek exemptions and concessions. The unnamed Indian government official who spoke with Reuters said the 'talks are progressing well' and that Mr Trump could issue a tariff order in a 'worst-case scenario'. "But we assume it would be temporary measure, considering the five rounds of trade talks that have taken place,' the official said. 'A deal will soon be worked out.' The US president reiterated his claim that he had threatened to stop trading with India and Pakistan to pull the South Asian neighbours from the brink of nuclear war earlier this year. Although the Indian government has sought to project warm ties with Mr Trump, it has publicly objected to his claim. Pakistan, in contrast, has acknowledged Washington's role in mediating a ceasefire after four days of intense fighting. New Delhi previously offered to steeply cut its tariffs on a range of US goods and assured Washington that it was working to ease non-tariff barriers. It has drawn a red line when it comes to its primary economic sectors of agriculture and dairy, however, terming them 'no-go' areas for talks. Indian officials said they were also unwilling to allow US imports of genetically modified soybean or corn products. US trade representative Jamieson Greer said the negotiations with India needed more time, emphasising that Mr Trump wanted good deals, not fast ones. India had shown "strong interest in opening portions of its market" to the US even though its trade policy had long focused on protecting domestic interests, Mr Greer said. India officials said New Delhi was calibrating a strategy amid broader US tariff threats targeting Brics nations over Russian oil purchases and de-dollarisation. Mr Trump earlier this month threatened to impose an additional 10 per cent tariff on any nation aligning themselves with the 'anti-American policies' of the Brics group of developing countries, which includes India as one of its most prominent members.
