Latest news with #Zones
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Business Standard
10-07-2025
- Politics
- Business Standard
Centre plans revision of eco-sensitive zone guidelines amid concerns
The Standing Committee of the National Board for Wildlife (SC-NBWL) has called for a review of the guidelines governing Eco-Sensitive Zones (ESZs) around protected areas, stressing the need for a more "flexible" and "site-specific" approach that balances conservation goals with local socio-economic "realities". ESZs are buffer areas created around protected forests, wildlife sanctuaries and national parks to protect wildlife and biodiversity from harmful human activities, such as mining, construction and polluting industries. Activities like farming, eco-tourism and the use of renewable energy are usually allowed with restrictions in these areas. Chairing a meeting of the SC-NBWL on June 26, Union Environment Minister Bhupender Yadav said, "Strict protection must be ensured for core areas, especially those that are the origin points of tributaries and critical water resources. However, extending a blanket 10-kilometre ESZs to all protected areas, irrespective of local ecological and geographical conditions, would not serve the intended purpose." According to the minutes of the meeting, Yadav cited examples like the Asola, Sukhna and Hastinapur sanctuaries and the Sanjay Gandhi National Park, where uniform ESZ rules are creating "significant challenges". "In states like Himachal Pradesh, where approximately 65 per cent of the land is already under forest or protected status, a rigid imposition of ESZ norms could hinder local development, without proportional ecological gains. Therefore, ESZ rules should be adapted to reflect the specific ecological and socio-economic realities of each region," the minister said. The member secretary suggested that the ESZ guidelines may be revisited to provide better ecological safeguards. This should involve stakeholder consultations, including inputs from state governments, relevant ministries, environmental experts and the ESZ division. A formal inter-ministerial consultation has been suggested to solicit views from all the departments concerned, before finalising any changes in the guidelines. Following the discussion, the SC-NBWL directed the environment ministry to prepare a note on the issue. This will be followed by a consultation with relevant divisions of the ministry and later, a joint meeting of the ESZ and wildlife divisions. The final recommendations will be submitted to the committee for further deliberations. The issue was placed on the agenda by NBWL member H S Singh, who said that ESZ guidelines, while intended to be flexible, are often treated by state authorities as rigid rules. Singh recalled that during the preparation of a zonal master plan in Gujarat, he had recommended prohibition of sand mining up to three kilometres around a national park and regulation beyond that. "However, the notification mentioned complete prohibition of mining activities within a notified ESZ. The guidelines for the preparation of proposals for the declaration of ESZs around national parks and sanctuaries, therefore, require amendments," he said. Several members and state officials flagged concerns over the negative impact of blanket ESZ provisions. The chief wildlife warden (CWLW) of Himachal Pradesh said while ESZs have been notified around multiple sanctuaries in the state and zonal master plans (ZMPs) are being prepared, the inclusion of certain activities in the prohibited or regulated categories is affecting local communities. "Restrictions imposed ... on industries, mining and other commercial activities are resulting in hardships to the affected population," he said. Unlike in protected areas, where compensation is provided during the settlement of rights, no such relief exists for ESZs. "As we move forward with the preparation of ZMPs, these issues are expected to become more pronounced," he said. The CWLW of Karnataka raised concerns about the immediate imposition of a default 10-kilometre ESZ from the date of declaring a new national park or sanctuary. He proposed a two-year transitional period during which existing activities may continue and operators of prohibited activities are given time to either phase out or relocate. He said final ESZ notifications should follow stakeholder consultations and be issued within this window. The CWLW of Tamil Nadu said the default ESZ provision is discouraging the declaration of new protected areas. "Many such proposed notifications are being deferred or scaled down due to anticipated issues arising from ESZ restrictions. A more flexible and site-specific ESZ framework is essential to encourage conservation, without creating unintended hardships," he said. NBWL member R Sukumar said a 10-km ESZ around a small bird sanctuary of about one square kilometre is meaningless. The director of the Wildlife Institute of India (WII) said the current ESZ guidelines are designed primarily with terrestrial sanctuaries in mind and often do not apply well to marine ecosystems. The CWLW of Kerala said a proposal to declare 150 sq. km as a sanctuary around the Silent Valley National Park was rejected by the State Board for Wildlife due to fears that it would automatically lead to default ESZ restrictions. The committee noted that the sectors most impacted by ESZ guidelines include mining, highways, railways, housing and tourism.
Time of India
01-07-2025
- Business
- Time of India
Trump's Big, Beautiful Bill: Who wins, who loses, and what it means for your wallet
President Trump's "big, beautiful bill" has passed the Senate, delivering significant tax cuts for corporations and high-income households. However, the bill raises concerns about rising national debt and cuts to Medicaid and clean energy initiatives. Millions could lose healthcare coverage, and future generations may face economic burdens due to increased debt. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Likely Winners include: Donald Trump enacted trillions in permanent corporate tax cuts during his first term. Increases other tax breaks for businesses, such as lowering the corporate tax rate to 21%. Extends or increases tax breaks for business investments, such as new machinery, equipment, and R&D. Extends through 2033 tax breaks enacted in 2017 for businesses that invest in disadvantaged areas known as Opportunity Zones. Increases the federal tax deduction limit for state and local taxes from $10,000 to $40,000. Beneficiaries include households earning $200,000 to $500,000 per year and property owners. Wealthy households and business owners benefit from a permanent estate tax reduction. Tip and overtime income is exempt from federal income taxes, as promised by President Trump during his campaign. Tax exemptions are structured as deductions that employees can claim when filing their taxes the following year. Removes provisions implemented during President Joe Biden's administration to shift energy consumption away from fossil fuels. Postpones a fee for excess methane pollution by oil and gas companies. Includes provisions to accelerate the development of new fossil fuel projects. Likely losers include: The bill could have a significant impact on clean energy companies by eliminating tax breaks and funding from the Biden administration. The bill proposes new tax penalties for wind and solar farm projects after 2027, potentially jeopardizing billions of dollars in clean energy investments and job creation. It also reduces benefits for consumers purchasing electric vehicles, solar panels, and appliances. Tired of too many ads? Remove Ads The bill may reduce the number of doctor's office visits, prescription refills, and medical procedures, requiring fewer workers to provide these services. The bill would prohibit Medicaid funding for abortion providers, potentially resulting in cuts or closures. The bill includes a $25 billion fund for rural hospitals to help alleviate the pain felt by rural health care providers. The bill cuts approximately $1 trillion from Medicaid, resulting in nearly 12 million low-income individuals losing health insurance over the next decade. The proposed cuts would disproportionately affect rural residents who rely on Medicaid for health insurance. The bill also cuts the Supplemental Nutrition Assistance Program, resulting in $300 billion in cuts to food stamp spending. Tax cuts would increase the national debt by approximately $3 trillion over the next decade, forcing the US to borrow more money to cover expenses. Future generations may face higher taxes and reduced spending on programs as a result of the additional interest. The bill also limits the United States' borrowing flexibility in the event of a future crisis. FAQs The Senate is buzzing about Donald Trump 's huge new economic bill, which he calls the "big, beautiful bill." It has more than 900 pages and raises concerns about rising debt, Medicaid cuts , and the loss of clean energy jobs while suggesting big tax cuts for corporations and the though tipped workers get small tax breaks, a growing deficit and less access to affordable healthcare could hurt future hours of heated talks that continued into the night, Senate Republicans on Tuesday gave President Trump a significant legislative win by adopting his One Big, Beautiful Bill Act, with Vice President Vance casting the tie-breaking vote, as per a report by The bill could have a significant impact on the economy as a whole, strengthening tax breaks for corporations and higher-income households while endangering health insurance for millions of Americans and jeopardizing thousands of jobs in the clean energy and healthcare sectors, as per a report by NBC "big, beautiful bill" passed a crucial procedural vote in the Senate over the weekend, mostly along party lines, with all but two Republicans voting in favor of its becoming law, the bill must be signed by President Donald Trump after passing the Senate and returning to the House for another there is still room for revisions and the bill's passage is uncertain, these are some of the main beneficiaries and disadvantages of the most recent are some of the key winners and losers under the latest version of the bill, as per a report by NBC corporations, affluent homeowners, and fossil fuel companies. They are receiving permanent tax breaks and relaxed of people could lose Medicaid coverage, food stamp access could be reduced, and the national debt could skyrocket, burdening future generations.
NBC News
30-06-2025
- Business
- NBC News
Who wins and loses in Republicans' 'big, beautiful bill'
Legislation making its way through the Senate stands to have wide-ranging effects across the economy — bolstering tax benefits for businesses and higher-income households while threatening health insurance for millions of Americans and putting thousands of clean energy and health care jobs at risk. The bill, which is more than 900 pages long and Republicans have dubbed the 'big, beautiful bill,' passed a key procedural vote over the weekend in the Senate largely along party lines, with all but two Republicans voting to advance it. The Senate is now debating the measure before taking a final vote. If the bill passes the Senate, it will then go back to the House for another vote and ultimately must be signed by President Donald Trump before becoming law. While changes could still be made and its passage isn't certain, here are some of the key winners and losers under the latest version of the bill. Winner: Corporations The legislation makes permanent trillions of dollars in corporate tax cuts enacted in 2017 during Trump's first term and expands other tax breaks for businesses. That includes permanently lowering the corporate tax rate to 21% from the 35% level before the 2017 tax cuts. The bill also extends or increases other tax breaks for business investments, like those on new machinery, equipment and research and development, which business groups have said would encourage business investments in the U.S. The bill also extends through 2033 tax incentives enacted in 2017 for businesses that invest in disadvantaged areas, called Opportunity Zones. Loser: Younger generations The tax cuts will add around $3 trillion over the next decade to the national debt, according to an analysis by the Congressional Budget Office. That means the U.S. will have to borrow more money to cover its expenses, requiring it to pay an estimated $600 billion to $700 billion in additional interest payments — money that the federal government could be spending on other priorities or longer-term investments, according to an analysis by the Center for a Responsible Federal Budget. The amount of money Americans pay toward interest on the country's debt is expected to increase sharply in the coming years, totaling $78 trillion over the next 30 years and accounting for 34% of federal revenues, according to the Congressional Budget Office. Higher debt could also drive up interest rates for both public and private borrowers because higher debt levels can raise concerns among investors about the U.S. government's ability to ultimately repay its debt. Winner: Higher-income households The bill would greatly expand the amount of state and local taxes households are able to deduct from their federal taxes from the current cap of $10,000 to up to $40,000. The biggest beneficiaries from the change would be households making between $200,000 and $500,000 a year and those who own property, because they are more likely to pay higher property and income taxes, according to an analysis by the Committee for a Responsible Federal Budget. It would also disproportionately benefit households in higher-tax states, like New York, New Jersey and California. Wealthy households and business owners will also benefit from a permanent reduction in the estate tax. Under the legislation, heirs of estates valued at less than $15 million will not have to pay a tax on their inheritance. That cap is set to drop to $7 million in 2026. Loser: Lower-income households Provisions in the latest version of the bill would cause nearly 12 million low-income individuals to lose their health insurance over the next decade by cutting around $1 trillion from Medicaid, the health insurance program for poor and disabled people, according to the CBO. The Senate bill includes steeper cuts to Medicaid than an earlier version passed by the House. The cuts would take a particular toll on Americans in rural areas who are more likely to receive their health insurance through Medicaid than those in urban or suburban areas. Researchers at Georgetown University found that 40% of children in small and rural towns receive their health insurance from Medicaid. The bill could also reduce the number of people who receive their insurance through the Affordable Care Act. The version of the Senate bill released over the weekend also includes cuts to the Supplemental Nutrition Assistance Program, also know as food stamps, by requiring adults without a disability between the ages of 18 to 64 to work at least 80 hours a month unless they are caring for a child under the age of 10. The added requirements could lead to $300 billion in cuts to food stamp spending, according to the Congressional Budget Office. Winner: Workers with income from tips and overtime The legislation would carry through on a campaign promise by President Trump to exempt income from tips and overtime from federal income taxes. Tipped workers make up about 2.5% of the workforce and about 12% of hourly workers clock some overtime each year, according to an analysis by the Yale Budget Lab. Both tax exemptions are structured as deductions that workers would claim when they filed their taxes the following year. The tax exemption would apply only to federal income tax, so workers would still have to pay Social Security and Medicare taxes on their income, along with any state or local taxes. Among tipped workers, as many as 40% already don't make enough money to have to pay federal income tax on any of their earnings so the benefit would be relatively limited, the Yale Budget Lab found. Loser: Health care workers Less funding for Medicaid and fewer people with health insurance would mean a drop-off in doctor's office visits, prescription refills and medical procedures — and, as a result, fewer workers needed to support those types of services. That could lead to the loss of nearly 500,000 health care jobs over the next decade, according to an analysis by George Washington University and the Commonwealth Fund. The Senate legislation seeks to mitigate some of that pain for rural health care providers, who care for a disproportionately high number of Medicaid patients, with a $25 billion fund for rural hospitals. Winner: Fossil fuel companies Both the House and the Senate bill include wins for the fossil fuel industry, stripping away numerous provisions put in place during President Joe Biden's administration to shift energy consumption away from fossil fuels. Both bills would delay a fee on excess methane pollution by oil and gas companies, roll back Biden-era rules to curb vehicle emissions and include provisions intended to speed the development of new fossil fuel projects. The Senate bill also includes a new tax workaround for oil drillers that would enable many of them to avoid having to pay a corporate alternative minimum tax of 15%. Loser: Clean energy companies and workers Clean energy companies say the bill could cripple their businesses by stripping away tax subsidies and funding made available during the Biden administration. The Senate bill would go further than the earlier version passed in the House by imposing new tax penalties on wind and solar farm projects started after 2027, unless they meet certain requirements. That could jeopardize billions of dollars in investments in clean energy projects — along with the thousands of jobs that would come along with those projects, including in Republican-led states like Georgia and South Carolina.
Observer
23-06-2025
- Business
- Observer
Al Rawdah SEZ: A defining moment for Oman's economic future
The recent unveiling of the Al Rawdah Special Economic Zone (SEZ) signals more than just a new development zone. It represents a turning point in Oman's economic journey—an ambitious, forward-looking initiative designed to reshape how we do business, attract capital, and integrate with regional and global markets. Located right on the border with the United Arab Emirates, in Al Buraimi Governorate, Al Rawdah SEZ is not just well placed—it is perfectly positioned. It links Oman directly with the UAE's vast logistical and financial infrastructure while remaining rooted in Oman's vision of inclusive and sustainable growth. This is an opportunity that deserves serious attention from the private sector, investors, SMEs, and government entities alike. This zone is unlike anything we've built before. It offers seamless cross-border access via the Rawdah border post and is strategically connected to two of the Gulf's most important ports—Sohar in Oman and Jebel Ali in Dubai. The ability to shift goods quickly, cut customs delays, and operate within both Omani and Emirati markets from a single base is a game changer. For businesses focused on speed, efficiency, and cost reduction, this is precisely the kind of setup we need in today's unpredictable global trade environment. Moreover, the development is backed by world-class players. DP World, the globally respected ports operator behind Dubai's Jebel Ali Free Zone, is the majority partner in the zone's development. This isn't just a real estate investment—it's a serious, strategic partnership. Oman's Public Authority for Special Economic Zones (OPAZ) has joined hands with DP World through Mahadha Development Company to bring international expertise together with national development goals. When such experienced partners are involved, it sends a strong message to the market: Al Rawdah SEZ is built to deliver. The first phase of the project includes a dry port with a handling capacity of 1.24 million containers annually. That's not just infrastructure—it's economic muscle. It gives businesses flexibility in managing imports, re-exports, and regional supply chains. Combined with dedicated roads, services, and utilities, it allows manufacturers and logistics firms to operate with confidence and speed. But what truly excites me as an economist is the policy framework behind this zone. Oman's new unified law on Special Economic Zones and Free Zones (Royal Decree 38/2025) simplifies how businesses engage with SEZs. We now have a consistent, transparent, and investor-friendly legal foundation. The law allows for full foreign ownership, 10-year tax holidays (with possible extensions), customs exemptions, and easy profit repatriation. Perhaps most importantly, it introduces a one-stop-shop for licensing—cutting red tape and improving the investor experience significantly. This is precisely the kind of bold regulatory reform the business community has been calling for. It's also perfectly in line with Oman Vision 2040, which emphasizes economic diversification, job creation, private sector growth, and knowledge transfer. Investors are not just being asked to set up shop; they're being welcomed into a system that respects their capital and time. The target sectors also show a smart and balanced strategy. Manufacturing, logistics, food processing, mining, pharmaceuticals, plastics, and safety services are all part of the initial rollout. These industries not only generate jobs and exports, they also bring technical know-how, help grow SMEs around them, and create demand for local services—from transportation to maintenance to hospitality. SMEs, in particular, have a lot to gain from this development. Al Rawdah is not just for large multinational firms. The ecosystem being built offers opportunities for small and medium-sized enterprises to plug into regional value chains. If we plan wisely, SMEs can provide support services, sub-contracting, packaging, distribution, and even tech-based solutions to the major tenants of the SEZ. What makes this zone even more relevant is its timing. Our trade with the UAE reached a record $15.2 billion in 2024. Al Rawdah SEZ is perfectly positioned to drive that number higher. By reducing friction and encouraging co-location of Emirati and Omani businesses, we are laying the groundwork for more value-added exports and regional production. This is not just about Oman serving the UAE; it's about both countries co-building competitive industries. Of course, no project of this scale is without challenges. Regional competition is fierce. Human capital development remains critical. We must ensure that our education, training, and business development programs are aligned with the needs of the zone. However, these are not reasons for hesitation—they are reasons for action. I call on Omani entrepreneurs, business owners, and investors to view Al Rawdah SEZ as more than a project—it is a platform. A platform to reach new markets, to collaborate with regional players, to test innovations, and to scale with confidence. It is a place where the private sector can lead, supported by a responsive government and strong international partners. For government stakeholders, Al Rawdah offers a chance to redefine governance around economic development. Fast-tracking approvals, integrating logistics systems, and enabling digital trade should be priorities. Let this be the model for how Oman does business going forward—efficient, connected, and globally competitive. In summary, Al Rawdah SEZ is not just another development zone. It is a symbol of what is possible when vision meets execution, and when partnership replaces isolation. Let us seize this opportunity—together. Dr Yousuf Hamed al Balushi The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
New York Post
22-06-2025
- Business
- New York Post
Sky Zone opening in Bergen Beach in Brooklyn
We've reported some happy-times leases, but this might be our favorite. Sky Zone, a national chain of indoor active-entertainment facilities aimed at children, will soon bring its brand of 'fantastic spots for young explorers' to an industrial warehouse in Brooklyn. Sky Zone signed a lease for a 52,100 square-foot 'trampoline park' at 2350 East 69th Street in Bergen Beach, on East Mill Basin across the waterway from the Mill Basin neighborhood. It will replace Match Point NYC when its lease imminently expires. Sky Zone will soon open a location at an industrial warehouse in Brooklyn. Sky Zone In addition to trampolines and jumping facilities, Sky Zone offers attractions such as Ultimate Dodgeball, SkySlam, and Warrior courses, with a different mix of features at each location. Ryan Nelson, managing principal of landlord Turnbridge Equities, said, 'We continue to see tremendous demand from traditional warehouse and distribution users as well as from different sectors of New York City's diversified economy that require warehouse use.' The new Sky Zone will occupy two attached, low-slung warehouse buildings. Other nearby Sky Zones are in Queens, Yonkers, and New Rochelle. 2350 E. 69th St. in Bergen Beach section of Brooklyn. Turnbridge Equities 'Sky Zone will offer top-notch children's entertainment for thousands of Brooklyn families and for non-Brooklyn visitors,' Nelson said. Turnbridge owns eight industrial properties in the metro area.
