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Tech Wrap April 3

Business Standard

Gujarat's textile hub in Surat has started feeling the pinch of rising input costs due to the ongoing West Asia conflict, with several units either curtailing their daily working hours or bringing down their active production days.
Some office-bearers claimed that the industry was currently facing losses of around Rs 100 crore every day.
Surat city is among India's largest centres for man-made fabric production.
The South Gujarat Textile Processors Association has decided to limit the operational days of units to five days a week instead of seven in a bid to manage rising costs, its president Jitendra Vaktania said.
"Due to rising costs of raw materials and coal, the textile processing industry in Surat and South Gujarat is facing a crisis," he said.
Several units have also scaled down production cycles from 24 hours to 12 hours a day, impacting overall output, said Ashok Jirawala, president of the Federation of Gujarat Weavers' Welfare Association and vice-president of the Southe

MSMEs, textile

Press Trust of India

Move to shift Palasa-Ichchapuram section to Andhra's SCoR revives concerns over revenue loss and control of key railway assets in Odisha

ECoR headquarters in Bhubaneswar

There was little sign Friday of the war in the Middle East winding down as Israel said it faced incoming fire from Iran, Kuwait and Bahrain reported being under attack, and Iran said eight people were killed while celebrating the close of Persian new year near a major bridge hit by a US strike.
Tehran continued to demonstrate its ability to strike its neighbours even as US President Donald Trump claimed the threat from the country was nearly eliminated and cheered the collapse of the bridge on Thursday, reportedly the tallest in the Middle East.
Iran decried the strike on the bridge, which also injured 95 people celebrating Nature Day, when Iranians gather for picnics and other celebrations outdoors on the last day of Nowruz, the Persian new year.
"Striking civilian infrastructure only conveys the defeat and moral collapse of an enemy in disarray," Iran's Foreign Minister Abbas Araghchi wrote Thursday in a post on X.
Iran's attacks on Gulf states along with its chokehold on the Str

Iran war, Tehran, Iran

The move comes as the US and Israel continue a war against Iran, a mission that has recently seen the US send thousands of troops into the region for a possible ground operation

Randy George

Bloomberg

Duties for products made by certain larger companies will take effect in 120 days, while items from smaller manufacturers won't be hit for another 180 days, according to a White House statement

medicine, Drugs

PB Fintech subsidiary receives adverse order under Benami law; company says it will appeal and sees no immediate financial impact

benami, real estate, realty, houses, home loan

India's first Iranian crude oil cargo since 2019 may be headed towards a port in Gujarat, according to ship tracking data.
Indian refiners have been looking to purchase a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington.
"The Indo-Iranian oil trade has flickered back to life. Following the US administration's decision to grant a 30-day window for Iranian oil "on the water" due to regional conflict, the vessel Ping Shun is now en route to Vadinar (in Gujarat) with 600,000 barrels of crude. This is the first such delivery since May 2019 and comes at a critical time for Indian refiners facing tightening inventories," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic firm Kpler.
While the identity of the buyer is unknown, Vadinar is home for 20 million tonnes a year oil refinery of Russian oil giant Rosneft-backed Naraya Energy. It also is the landing point for crude oil that goes to hinterland refinerie

Representative Picture

Daily Corriere della Sera reported "some U.S. bombers" had been due to land at the base in eastern Sicily before heading to the West Asia. It did not say when they had been due to land

AIRCRAFT

Reuters

Analysts say that demergers allow companies to transform dedicated arms into focused entities, which in turn unlock shareholder value and streamline operations

Demergers in FY27

Following the unexpected turn of events, it may help to take a closer look at what Tata Trusts, its trustees, its chairman, and the nominee directors stand for vis-a-vis Tata Sons

Tata Sons

The smartphone is now part of basic economic infrastructure.  A farmer in Vidarbha uses his phone to check mandi prices before selling his produce

Illustration: Binay Sinha

RBI bars NDF trades with corporates 

The RBI has barred banks from offering rupee NDF contracts to corporate clients to curb speculation and stabilise the currency.

Cheap, accessible, and powerful semaglutide is changing India’s weight-loss and diabetes landscape. But as prices crash and access expands, the risks also increase

In this session, Hari Balaji, Partner, EY India, shares his insights on the evolving space of tech consulting and what's in there for MBAs

In this session, Pranav Dangi, Founder & CEO of Hosteller, shares his thoughts on the evolving travel and tourism space and provides career tips

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