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US imposes 123% duty on Indian Solar imports

The United States has imposed a preliminary anti-dumping duty of up to 123% on solar cells and modules imported from India, citing unfair pricing concerns. The measure also applies to exporters from Indonesia and Laos.

The decision could make Indian solar products significantly costlier in the US market, affecting demand. The duty is still provisional, with final rates to be decided after further review, keeping the trade outlook uncertain for India’s solar industry.

However, industry players say the impact may be limited as exporters are diversifying to other regions.

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Trump hosts Crypto event as meme coin crashes

US President Donald Trump hosted leading investors of his $TRUMP cryptocurrency at Mar-a-Lago in Florida, holding an exclusive event for top token holders. Reports said around 297 investors attended, with some invited to a VIP gathering.

The event came even as the meme coin has lost more than 95 percent of its value from earlier highs. Critics questioned the ethics of Trump’s links to crypto businesses while holding office. Supporters said the gathering reflected continued interest from wealthy backers.

Retail investors, however, have suffered heavy losses as the token’s value sharply declined.

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Reliance changes oil supply plan amid Gulf disruption

Reliance Industries has changed its crude oil sourcing strategy to deal with supply disruptions caused by tensions in the Gulf region. The company has reduced dependence on some Gulf shipments and increased purchases from other countries while also exploring alternate shipping routes.

These steps have helped Reliance maintain smooth operations at its Jamnagar refinery in Gujarat, one of the world’s largest refining complexes. The move comes as freight charges, insurance costs and crude prices remain volatile due to geopolitical uncertainty.

Analysts said Reliance’s flexible sourcing network has helped limit the impact of disruptions on refining operations and fuel supplies.

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SEBI proposes overhaul of stockbrokers’ net worth norms

The Securities and Exchange Board of India (SEBI) has proposed a major revision in how stockbrokers calculate their “variable net worth”, shifting from a fixed formula to a more risk-based system that reflects their actual business size and exposure.

Under the current rule, brokers are required to maintain net worth linked to 10% of the average daily client cash balance they hold. However, SEBI says this method has become outdated after changes in how client funds are handled in the market. With the introduction of the upstreaming mechanism, client money is now transferred to clearing corporations, leaving brokers with very little cash on their books.

Because of this shift, SEBI believes the old calculation no longer accurately reflects the risks brokers face. The regulator has now proposed a new framework that ties capital requirements more closely to both client exposure and business scale.

In the new model, one key component of net worth will be based on 10% of the average credit balance of clients over the past six months. This replaces the earlier focus on funds retained by brokers.

The second component is linked to the number of active clients. Brokers will need to maintain additional capital in slabs depending on their client base. For example, firms with more clients will be required to hold higher minimum net worth, with incremental increases as their customer base grows. Separate requirements are also proposed for clients brought in through authorised persons.

SEBI has said the net worth requirement acts as a “second line of defence” after margin obligations and must be strong enough to absorb risks not covered elsewhere.

Also Read: Ashok Lahiri named NITI Aayog vice-chairman

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Trump’s Fed Chair nominee Warsh promises independence

Kevin Warsh, US President Donald Trump’s nominee for Federal Reserve chair, told senators he would protect the central bank’s independence if confirmed.

During his Senate hearing, Warsh rejected criticism that he would follow Trump’s political agenda. He said interest-rate decisions would be based on economic data and long-term stability.

Warsh also criticised the Fed’s past handling of inflation, saying it must rebuild credibility. His nomination is being closely watched as the Federal Reserve plays a major role in controlling inflation, borrowing costs and guiding the US economy.

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Trustee issue emerges at Sir Ratan Tata Trust

Fresh governance concerns have surfaced at the Sir Ratan Tata Trust after reports said two of its three life trustees may need to resign to comply with Maharashtra public trust rules.

Current regulations limit life trustees to one-fourth of the total board strength. With six trustees on the board and three holding life positions, the trust may be above the permitted limit. The matter has reportedly reached the Maharashtra Charity Commissioner.

The development is significant as Tata Trusts remains the key shareholder of Tata Sons.

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UAE seeks US financial lifeline

The United Arab Emirates has reportedly approached the United States for financial support as the Iran war continues with no clear end. Officials are said to have discussed emergency options, including access to US dollar funding through a possible currency swap arrangement.

The move reflects concern over the growing economic impact of the conflict, including market volatility, rising oil prices and pressure on regional trade.

While the UAE has not faced major damage so far, authorities appear to be preparing for a prolonged crisis as uncertainty grows and diplomatic efforts to end the war remain stalled.

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Lufthansa strike grounds flights, disrupts travel

Thousands of passengers faced travel chaos as pilots at Lufthansa went on a two-day strike, leading to hundreds of flight cancellations.

Major airports like Frankfurt and Munich saw long queues and delays, leaving many travellers stranded or rushing to make alternate plans. The strike is part of an ongoing dispute between pilots and the airline over pay and benefits.

The situation may worsen, as cabin crew unions have also warned of possible strikes soon. Passengers have been advised to check flight updates regularly as talks continue, with no clear resolution yet.

 

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Adani cargo shift plan draws US scrutiny

The United States has raised concerns over the Adani Group’s plan to shift cargo operations from Chhatrapati Shivaji Maharaj International Airport to the upcoming Navi Mumbai airport.

The decision is linked to planned upgrades at the Mumbai airport, which may reduce cargo capacity temporarily. However, US authorities say forcing airlines, including American carriers, to relocate could violate bilateral aviation agreements and limit operational freedom.

They have also flagged competition concerns, as Adani operates both airports. The company says the shift is temporary and aimed at managing capacity. Talks are ongoing.

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Aavas financiers eyes leadership change

Aavas Financiers is likely to see a change in leadership, with its current CEO expected to step down. The move comes as its majority investor, CVC Capital Partners, pushes for stronger growth and better performance.

Manu Singh from Kotak Mahindra Bank is being seen as the leading candidate to take over the role. The company has been under pressure due to slower business growth and weak stock performance in recent months.

The expected leadership change is aimed at bringing fresh direction to the company. It is likely to focus on expansion, improving performance, and strengthening its position in the housing finance market.