Business
Chinese imports: India imposes 12% tariff on steel inflows; aims to curb cheap shipments with safeguards – The Times of India
India rolled out a new trade measure on Tuesday, imposing safeguard duties on certain steel imports for a period of three years. The move comes as a push to protect domestic manufacturers from a surge in low-cost overseas supplies, particularly from China.As per a finance ministry notification, the safeguard duty will stand at 12% in the first year, ease to 11.5% in the second, and fall further to 11% in the final year. The decision follows a detailed probe into import trends and their impact on local producers.The levy will apply to steel shipments from countries including China, Vietnam and Nepal. However, imports from some developing nations have been kept outside the scope of the measure. The order also makes it clear that specialty steel products, such as stainless steel, will not be covered under the safeguard duty.The directorate general of trade remedies, which examined the matter, recommended the three-year tariff after observing a “recent, sudden, sharp and significant increase in imports … causing and threatening to cause serious injury to the domestic industry,” the order stated. The latest move builds on an earlier step taken in April, when the government imposed a temporary 200-day safeguard duty of 12% on similar steel products, according to a Reuters report.Officials from the federal steel ministry have repeatedly stated that unchecked inflows of cheap and sub-standard steel could harm India’s domestic steel sector, prompting the need for protective measures.The decision also comes against the backdrop of growing global trade tensions in the steel market. US President Donald Trump’s import tariffs on steel have intensified scrutiny of Chinese exports, leading countries such as South Korea and Vietnam to introduce anti-dumping duties earlier this year.
Business
Aurobindo Pharma gets board nod for Rs 800 crore share buyback plan – The Times of India
Hyderabad: Aurobindo Pharma’s board on Monday approved a Rs 800 crore share proposal to buy back up to 54.23 lakh fully paid-up equity shares of the company of face value Rs 1 each at Rs 1,475 a share.The proposed buyback, which is subject to regulatory and statutory approvals, represents up to 0.93% of the total number of equity shares in the company’s total paid-up equity share capital.The Hyderabad-based generics drug maker informed the bourses that April 17, 2026, has been fixed as the record date to determine shareholder eligibility and entitlement for the buyback, which will be carried out through the tender offer route on a proportionate basis, in line with SEBI’s Buyback Regulations and the Companies Act.All eligible equity shareholders, including promoters and promoter group entities holding shares on the record date, will be entitled to participate in the offer for which the company has already constituted a buyback committee.The company also said the board or buyback committee may increase the buyback price and correspondingly reduce the number of shares to be bought back up to one working day before the record date but the overall size will remain unchanged.The Rs 800 crore buyback size excludes transaction costs and related expenses such as brokerage, taxes, filing fees, legal charges and publication expenses, it said.The latest buyback comes less than two years after the last buyback offer aggregating to Rs 750 crore that was made at Rs 1,460 a piece in August 2024 by the company.As of December 31, 2025, promoters and promoter group entities held 51.82% stake in the company, mutual funds 19.52%, foreign portfolio investors 13.94%, insurance companies 5.50%, and public shareholders and others 7.93%.
Business
London charity ‘feels the pinch’ of higher energy and fuel prices
The Felix Project is among the organisations feeling the effects of increased costs due to the conflict in Iran.
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Business
‘Positives’ for Jersey tourism despite Iran war uncertainty
Bosses say a good start to the year has been put at risk, but opportunities have also emerged.
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