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Business Standard
2 days ago
- Business
- Business Standard
Tea exporters cautiously optimistic as Israel-Iran ceasefire lifts demand
The ceasefire in the Israel-Iran conflict has brought a sense of cautious optimism among Indian tea producers and exporters, who had seen orthodox tea prices slide amid rising tensions. Orthodox tea prices had declined in the wake of the crisis but are now showing signs of recovery, even as exporters and traders reassess risks and the demand outlook. At the Kolkata auctions held this week, the average price of orthodox leaf teas was Rs 290.66 per kg, compared to Rs 269.40 per kg last week. Moreover, 78.55 per cent of the teas on offer were sold at the auction held on June 24 and 25, as against 49.26 per cent last week. However, he added that some shippers had decided to hold back their cargo for a bit to see how the situation develops. 'But the signals are positive.' Indian Tea Association (ITA) chairman Hemant Bangur said the demand environment was uncertain last week. 'But I think that is behind us now. The exporters are back at the auctions covering for quantities they had committed to Iran and the CIS countries. But obviously everybody is cautious,' he said. Traditionally, Iran has been one of the top markets for Indian tea. It is believed to be a 30 million kg (mkg) market. In 2022, tea exports to Iran stood at 22.21 mkg. This dropped to 5.92 mkg in 2023 as Iran stopped registering contracts for Indian tea. In 2024, however, tea exports to Iran increased to 9.24 mkg. But direct export figures to Iran do not fully reflect the size of the market, as a significant volume is routed through the UAE, a major re-exporting hub. Even as prices have recovered from the lows of last week, they are yet to return to levels seen before June 13, when Israel launched a surprise attack on Iran. Himanshu Shah, chairman, M K Shah Exports, said tea prices have improved from last week but remain below pre-conflict levels. The next few weeks will be crucial in determining the direction of the market. M K Shah is one of the largest exporters and producers of orthodox tea in India. Mohit Agarwal, director, Asian Tea Company, said cargo was lying at the Nhava Sheva port in Mumbai. 'The buyers are back and enquiries are coming in. The trade should start from Saturday.' 'This was a temporary setback and the expectation is that the market would go back to pre-war level next week.' The season had started on a strong note for orthodox tea. The average price realised for orthodox leaf at the Kolkata auctions for Sale 17 to Sale 24 was Rs 317.32 per kg, compared to Rs 293.69 per kg in the previous year. Sale 17 was held on April 22, and Sale 24 was held on June 10 and 11. The drop in prices last week, however, prompted some producers to convert to the CTC variety. A large tea producer said, 'The plan was to expand the production of orthodox tea. But right now, we are making more of CTC. If things settle down, we will make more of orthodox.' Orthodox tea is mostly exported. In 2024, India produced 118.67 mkg of orthodox tea out of a total production of 1,284.78 mkg; production of CTC stood at 1,149.21 mkg.
India Today
2 days ago
- Sport
- India Today
Wimbledon 2025 draw: Alcaraz faces tough test, Sinner and Djokovic in same half
With the draw for Wimbledon 2025 officially unveiled on June 27, tennis fans across the world are bracing for two action-packed weeks at the All England Club. All 64 first-round men's singles clashes have been locked in, and the anticipation is sky-high for a tournament that continues to be the crown jewel of the Grand Slam circuit. This year's draw promises a mouth-watering mix of generational battles and star-studded showdowns, featuring big names like Jannik Sinner, Carlos Alcaraz, and Novak Djokovic, all eyeing the most coveted prize on defending champion, Carlos Alcaraz, begins his campaign against veteran Italian Fabio Fognini. The Spaniard comes into Wimbledon in red-hot form, having lifted the Queen's Club title last week — an ideal lead-in for grass season confidence. He's also riding high after an epic five-set triumph over Jannik Sinner in the 2025 French Open final, a match that lasted well over five hours and was hailed as one of the most intense Slam clashes in recent years. That win somewhat cemented the growing rivalry between Alcaraz and Sinner — two players now widely regarded as the leaders of tennis' new golden generation, following in the footsteps of the legendary Big Three: Roger Federer, Rafael Nadal, and Novak meanwhile, continues his pursuit of greatness. Chasing an unprecedented 25th Grand Slam title, the Serbian opens against Alexandre Muller. But unlike previous years, the road appears steeper. Djokovic, having last won a grand slam all the way back in 2023 at the US Open, hasn't played a single warm-up match on grass this season and has been hampered by recurring injury concerns. While his legacy on these courts is unmatched — with seven Wimbledon titles — question marks linger over his physical readiness. Yet, one can never rule out the Serbian champion when it comes to major outlook promises high dramaadvertisement If the seeds fall into place, the Gentlemen's Singles could be headed for a blockbuster quarter-final lineup:(1) Jannik Sinner vs (7) Lorenzo Musetti(4) Jack Draper vs (6) Novak Djokovic(5) Taylor Fritz vs (3) Alexander Zverev(8) Holger Rune vs (2) Carlos AlcarazEach matchup carries serious intrigue — from Sinner and Musetti's all-Italian clash to a potential rematch between Djokovic and young British star Draper. In the bottom half, a Zverev vs Fritz duel could turn into a serving slugfest, while the possibility of Rune vs Alcaraz promises flair, firepower, and next-gen back-to-back Djokovic vs Alcaraz Wimbledon finals over the last two years, the tennis world is already speculating whether we'll see a trilogy chapter unfold. Add Sinner to the mix, and the race for this year's trophy becomes even more 2025 Men's Singles – Full First-Round DrawJ. Sinner (ITA) (1) vs L. Nardi (ITA)C. Tseng (TPE) vs A. Vukic (AUS)P. Martinez (ESP) vs G. Loffhagen (GBR)M. Navone (ARG) vs D. Shapovalov (CAN) (27)G. Dimitrov (BUL) (19) vs Y. Nishioka (JPN)F. Comesana (ARG) vs C. Moutet (FRA)S. Ofner (AUT) vs H. Medjedovic (SRB)J. Monday (WC) vs T. Paul (USA) (13)B. Shelton (USA) (10) vs A. Bolt (Q) (AUS)R. Hijikata (AUS) vs D. Goffin (BEL)A. Kovacevic (USA) vs M. Fucsovics (LL) (HUN)G. Monfils (FRA) vs U. Humbert (FRA) (18)B. Nakashima (USA) (29) vs Y. Bu (CHN)A. Shevchenko (KAZ) vs R. Opelka (USA)J. Faria (Q) (POR) vs L. Sonego (ITA)N. Basilashvili (GEO) vs L. Musetti (ITA) (7)J. Draper (GBR) (4) vs S. Baez (ARG)R. Collignon (BEL) vs M. Cilic (CRO)J. McCabe (Q) (AUS) vs F. Marozsan (HUN)J. Munar (ESP) vs A. Bublik (KAZ) (28)F. Cobolli (ITA) (22) vs B. Zhukayev (Q) (KAZ)T. Etcheverry (ARG) vs J. Pinnington Jones (WC) (GBR)M. Giron (USA) vs C. Ugo Carabelli (ARG)H. Gaston (FRA) vs J. Mensik (CZE) (15)A. de Minaur (AUS) (11) vs R. Carballes Baena (ESP)A. Cazaux (Q) (FRA) vs A. Walton (AUS)Q. Halys (FRA) vs A. Holmgren (DEN)D. Dzumhur (BIH) vs T. Machac (CZE) (21)A. Michelsen (USA) (30) vs M. Kecmanovic (SRB)J. de Jong (NED) vs C. Eubanks (USA)D. Evans (WC) (GBR) vs J. Clarke (WC) (GBR)A. Muller (FRA) vs N. Djokovic (SRB) (6)T. Fritz (USA) (5) vs G. Mpetshi Perricard (FRA)G. Diallo (CAN) vs D. Altmaier (GER)M. Arnaldi (ITA) vs B. van de Zandschulp (NED)B. Holt (USA) vs A. Davidovich Fokina (ESP) (26)A. Popyrin (AUS) (20) vs A. Fery (WC) (GBR)L. Darderi (ITA) vs R. SafiullinV. Kopriva (CZE) vs J. Thompson (AUS)B. Bonzi (FRA) vs D. Medvedev (RUS) (9)F. Cerundolo (ARG) (16) vs N. Borges (POR)B. Harris (GBR) vs H. Hurkacz (POL)S. Mochizuki (Q) (JPN) vs G. Zeppieri (ITA)M. McDonald (USA) vs K. Khachanov (RUS) (17)M. Berrettini (ITA) (32) vs K. Majchrzak (POL)E. Quinn (USA) vs H. Searle (WC) (GBR)P. Carreno Busta (ESP) vs C. Rodesch (Q) (LUX)A. Rinderknech (FRA) vs A. Zverev (GER) (3)H. Rune (DEN) (8) vs N. Jarry (CHI)L. Tien (USA) vs N. Basavareddy (USA)J. Fearnley (GBR) vs J. Fonseca (BRA)J. Brooksby (USA) vs T. Griekspoor (NED) (31)J. Lehecka (CZE) (23) vs H. Dellien (BOL)M. Bellucci (ITA) vs O. Crawford (WC) (GBR)C. Norrie (GBR) vs R. Bautista Agut (ESP)E. Moller (DEN) vs F. Tiafoe (USA) (12)A. Rublev (RUS) (14) vs L. Djere (SRB)Z. Bergs (BEL) vs L. Harris (RSA)A. Mannarino (Q) (FRA) vs C. O'Connell (AUS)V. Royer (FRA) vs S. Tsitsipas (GRE) (24)F. Auger-Aliassime (CAN) (25) vs J. Duckworth (AUS)J. Struff (GER) vs F. Misolic (Q) (AUT)O. Tarvet (GBR) vs L. Riedi (SUI)F. Fognini (ITA) vs C. Alcaraz (ESP) (2)- Ends
Korea Herald
2 days ago
- Automotive
- Korea Herald
US sets process to expand auto parts subject to 25% tariffs
The US Commerce Department has established a process to include more imported automobile parts in the list of those subject to 25 percent tariffs, its release showed Thursday, a move that could affect South Korea's auto part industry. This week, the department's International Trade Administration outlined the process by which US domestic producers may request additional auto parts to be included in the scope of the new tariffs on automobile parts that took effect on May 3. To receive requests from US producers of auto parts, ITA is establishing two-week submission windows held four times a year -- each January, April, July, and October, with the first window opening on July 1. It plans to review received requests on a rolling basis during the two-week submission window. Following the two-week submission window, a non-confidential version of each valid request will be published and open for public comment for 14 days, according to ITA. ITA plans to make a determination within 60 days of receiving the request. The items subject to the current tariffs on auto parts include engines, transmissions, powertrain parts and electrical components. "This program will strengthen the objectives of Section 232 tariffs to protect critical US national security interests related to automobiles and automobile parts," ITA said in a press release. To impose the tariffs on automobiles and certain parts, Trump invoked Section 232 of the Trade Expansion Act of 1962 -- a statute that provides the president with authority to adjust imports into the United States when he determines they threaten to impair national security. The Trump administration has expanded the scope of its Section 232 tariffs in a way that affects the South Korean industry. Earlier this month, it announced a decision to add refrigerators, washing machines, dryers and other items to the list of derivatives subject to a 50 percent steel tariff, noting that the tariff will be assessed on those products based on the value of the steel content in each. (Yonhap)
Libya Herald
4 days ago
- Business
- Libya Herald
Italian airliner ITA lands at Benghazi's Benina airport for the first time in 14 years
Benghazi's Benina Airport received yesterday the first Italian Airways ITA flight arriving directly from Rome, after a hiatus of nearly 14 years. The flight is considered by the eastern based Libyan authorities as the official launch by the carrier of its regular Rome to Benghazi service. The flight carried onboard the Italian Consul, the President of the Italian Chamber of Commerce, several Italian officials, in addition to representatives of more than 100 Italian companies. The arrivals will be participating in the activities of the Libyan Italian Development Forum to be held in Benghazi from 25 to 26 June. The eastern based Libyan authorities view the return of this service within the framework of a strategic plan supervised by the Libya Development and Reconstruction Fund, headed by the Haftar family. The flight service is seen as a qualitative leap aimed at reactivating the infrastructure and enhancing the investment environment in the country. They report that the inauguration of this air route is the fruit of a series of meetings and meetings he held with several Italian officials and representatives of major Italian companies during the last period, which paved the way for this achievement. The resumption of this line represents an important gateway for the return of international companies and contributes directly to supporting comprehensive development efforts and the advancement of various sectors inside Libya. ITA flights to Tripoli suspended due to militia clashes It will be recalled, with some irony, that while ITA is launching its new service to Benghazi, it is still temporarily suspending its service to Tripoli after the breakout of militia clashes in the capital in May and June. ITA had commenced flights to Tripoli in January this year. ITA was also reported by Libyan officials to be planning direct flights between Libya and Milan ''soon''. . ITA to launch new Tripoli-Milan service Libya and Qatar sign MoU to prepare studies for Tripoli International Airport investment project vision Aldabaiba conducts inspection tour of the implementation of Tripoli International Airport's first terminal Over 1,500 carriers fly over Libyan airspace monthly – latest airport audits were positive UAE Civil Aviation Authority visits Tripoli's Mitiga airport with view to resuming flights Libya signs accession to the Constitution of the African Civil Aviation Commission of the African Union (AFCAC) Libya and UAE sign MoU to lift air transport restrictions between the two countries Arab Aviation Organisation visits Mitiga Airport for audit Libya and Spain discuss April's Spanish Libyan Economic Forum in Spain and resumption of direct flights Aldabaiba discusses with German Ambassador Tarraf resumption of Lufthansa flights Afriqiyah Airways and Libyan Airlines Managers, plus eight others – detained for deliberately operating flights that do not meet safety standards Tripoli Foreign Ministry meets Austrian ambassador – resumption of direct flights and reopening of embassy are discussed Tripoli Foreign Ministry meets UK Deputy Ambassador – direct flights and visas discussed ITA first regular scheduled flight arrives in Tripoli Transport Ministry celebrates safe Egypt Air emergency landing at Kufra airport and successful health relief offered to ill flight attendant Some recommendations at the Libya Aviation Forum on how to accelerate the lifting of the EU flight ban Libya and Qatar sign update to 2024 Air Services Agreement Qatari UCC and LIA discuss development of Mitiga's 10 million passenger eastern terminal Qatari Civil Aviation audit team inspects Tripoli's Mitiga airport with view to resume flights Qatar Civil Aviation to conduct Libyan airports inspection in October, signs MoU with Libyan counterpart ( Libya signs an initial air services agreement with Qatar – Qatar Airways to resume flights to Libya ( After an 11-year hiatus, Sebha airport resumes international flights mid-November – to Cairo ( Civil Aviation Authority holds workshop to prepare for ICAO visit – to eventually lift EU flight ban imposed on Libya Libya must fulfil certain preconditions before flights to Italy resume by September – but flights could resume earlier ( Libya must fulfil certain preconditions before flights to Italy resume by September – but flights could resume earlier ( Dutch embassy assesses security standards, rules and procedures at Tripoli's Mitiga airport ( Egyptian Civil Aviation Authority and Egypt Air inspection team visits Mitiga, Misrata and Sebha airports to assess readiness for flight resumption ( After 8 year hiatus, Egypt Air cargo flight arrives at Tripoli's Mitiga airport ( Italian Civil Aviation audit team inspects Tripoli's Mitiga airport ( Maltese Civil Aviation inspects Benghazi's Benina airport for possible launch of Medavia flights ( Berniq Airways adds fifth aircraft to its fleet – to increase destination ( Berniq Airlines to start flights to Dubai soon ( Greek delegation visits Benghazi's Benina airport to discuss resumption of flights with Athens ''soon'' ( Tunisian Civil Aviation and Tunis Air inspect Misrata Airport for possible start of direct flights ( Tunisian civil aviation and airlines delegation inspects Benghazi's Benina airport ( Flights between Athens and Benghazi to start on 2 March ( Berniq Airways to receive third aircraft within days ( Berniq Airlines' first Airbus A320 arrives in Benghazi's Benina airport ( Benghazi's Benina airport opens its new Berniq terminal – a BOT project financed by the private sector Bank of Commerce and Development ( Flights between Crete and Benghazi expected to start soon ( Medsky to start flights from Tripoli to Malta ( Medsky Airways adds a second Airbus 320 to its fleet ( Malta-based Libyan carrier Med Sky to start chartered flights from Misrata to Malta from 5 May ( Medsky flies first Berlin to Misrata flight ( Libya Civil Aviation Authority completes training of airport security supervisors – to meet requirements of International Civil Aviation Organization ( Libya discusses with ICAO progress on lifting European flight ban ( AENEAS AENEAS complains that Libya is blocking payments for Tripoli International Airport project Aldabaiba directs need to intensify efforts to complete Tripoli International Airport's terminal before end of 2024 ( Tripoli International Airport reconstruction 'will create local jobs' says Italian consortium ( Mystery Italian consortium given contract for Tripoli International Airport ( GNA Transport Minister-designate confirms Italian company to commence Tripoli International Airport construction early 2017 ( Minister of Transport meets Italian Ambassador – AENEAS passenger terminal implementation at Tripoli International Airport discussed ( Tripoli International Airport expected to be completed in 2024: Italian ambassador ( Italy's Aeneas starts work, Tripoli International Airport will be ready within 15 months ( Aldabaiba praises activation of seven domestic airports and start of work on Tripoli International Airport's terminal ( Transport committee and Turkish company assess damage to Tripoli International Airport: feasibility of old contracts assessed; new contracts considered ( GNA Transport Minister-designate confirms Italian company to commence Tripoli International Airport construction early 2017 ( Italian companies visit remains of destroyed Tripoli International Airport to offer reconstruction plan ( Tripoli International Airport in flames (
Libya Herald
4 days ago
- Business
- Libya Herald
More than 100 business representatives arrive in Benghazi for the Libyan Italian Forum for Development and Reconstruction
The eastern based Libyan authorities reported that more than 100 representatives of Italian companies arrived in Benghazi yesterday to participate in the activities of the Libyan Italian Forum for Development and Reconstruction, to be held in Benghazi from 25 to 26 June. The Italian delegation included the President of the Italian Chamber of Commerce, several Italian officials, and were met in Benghazi by the Italian Consul and the Italian Ambassador to Libya. The Italian delegation arrived at Benghazi's Benina Airport on board a direct ITA flight from Rome – the first direct flight from Rome to Benghazi in 14 years – planned to be a regular service between the two cities. The arrival of the flight is considered by the eastern based Libyan authorities as one of the most prominent achievements in the field of air transport between Libya and Europe in more than 13 years. The return of this flight service comes within the framework of a strategic plan by the eastern based Libyan authorities and represents a qualitative leap aimed at reactivating the infrastructure and enhancing the investment environment in the country. It represents an important gateway for the return of international companies and contributes directly to supporting comprehensive development efforts and the advancement of various sectors inside Libya. . Libyan Italian Forum for Development and Reconstruction to be held in Benghazi from 25 to 26 June
