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Govt floats mega fertiliser tender

New Delhi: India has issued a global tender for complex fertilisers-50 million tonnes of NPK (nitrogen, phosphorus and potassium) and 35 MT of ammonium sulphate-to bolster the reserves of two key soil nutrients ahead of the main planting season which begins in June.The tender has been issued by Rashtriya Chemicals and Fertilizers (RCF), one of the three importers. The shipment is expected by May 31 at the east coast of India.Ammonium sulphate is assuming increasing importance in Indian agriculture, as the government is planning to market it as a better alternative source of nitrogen to partially substitute for urea. The government recently brought it under the fertiliser subsidy scheme from this rabi season. The idea is to subsidise it a little to increase its demand.While 90% of NPK fertilisers are produced locally, India does not have the critical raw materials such as gas and potash required for domestic manufacturing, making the country heavily dependent on imports. from Economic...
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WB polls: Soren, Tejashwi, Kejriwal back Mamata

from Economic Times https://ift.tt/JXuISDA
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Sitharaman bats for unified KYC, asks Sebi lead

Mumbai: Finance minister Nirmala Sitharaman on Saturday called for a unified know-your-customer (KYC) system across the financial sector to eliminate repeated verification for users, and urged the Securities and Exchange Board of India (Sebi) to lead the effort."It is a shared responsibility of all stakeholders to ensure that no citizen has to repeat the same verification journey across multiple financial products and platforms," Sitaraman said at an event to mark the markets regulator's 38th Foundation Day here."We need a seamless, secure and portable KYC experience across the financial sector," she said.Also Read: Tell us what you need to invest more: FM Sitharaman to India IncThe current fragmented KYC framework imposes unnecessary friction on users, the minister said, stressing the need for urgent reform through digitisation and common standards across regulators.Sebi is well-placed to drive convergence given its scale and digital infrastructure, she said.Si...
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Ashok Lahiri to become Niti Aayog vice-chairman

from Economic Times https://ift.tt/HLtMl20
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Meta tells staff it will cut 10% of jobs

Meta Platforms plans to cut 10% of workers, or roughly 8,000 employees, in an effort to boost efficiency and offset its heavy spending on artificial intelligence. The company disclosed the move in a memo sent to employees Thursday, saying the layoffs will come on May 20. Meta also won’t hire workers for 6,000 open roles that it had intended to fill.The job cuts come as Chief Executive Officer Mark Zuckerberg is spending aggressively on the talent and infrastructure needed to develop state-of-the-art artificial intelligence products, including large language models and chatbots. Meta already projected record capital expenditures this year, and has announced several multibillion-dollar deals with AI partners over the past few months. Employees have been encouraged to use AI agents internally to help with writing code and other tasks. Meta alluded to its AI spending in the memo, which was written by Janelle Gale, chief people officer. “We’re doing this as part of our continued effort to r...
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Trump says Iran won’t execute 8 women

from Economic Times https://ift.tt/UWp1HEj
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US markets fall as Middle East concerns offset earnings optimism

U.S. stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings. Iran could attend talks with the United States in Pakistan if Washington abandons its policy of pressure and threats, a senior Iranian official told Reuters, adding that Tehran rejects negotiations aimed at surrender. Equities extended declines late in the session after reports that U.S. Vice President JD Vance ‌had called off his ⁠trip to Pakistan ⁠for peace talks. Stocks have rallied in recent weeks on the belief that a peace deal could be on the horizon. "There's two things going on - what is the resolution going to be or the path going to be for Iran, but in the meantime if that wasn't there, you've got really good expectations for earnings coming in and the companies are pretty much reporting that way, and the economy is doing fine," said Thomas Martin, senior portfolio manager at...
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