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JSW Italy gets a grant of €33 mn from Italian Govt

JSW Italy gets a grant of €33 mn from Italian Govt
JSW Italy gets a grant of €33 mn from Italian Govt

The Development Contract intends to revive the historically important industrial site ‘Steelworks of Piombino’, by way of modernisation of the facilities and enhancement of industrial activity. JSW Steel Italy Piombino SPA (JSW Italy), a wholly owned subsidiary of JSW Steel, has signed a Development Contract with the Ministry of Enterprise & Made in Italy, the Tuscany Region and l’Agenzia Nazionale per l’Attrazione Degli Investimenti e lo Sviluppo d’Impresa SPA. The grant is towards the development of the Rail Mill Modernisation Project being implemented by JSW at Piombino at an estimated project cost of €143 million. This project will nearly double the capacity of the Rail Mill from about 0.32 MTPA to 0.6 MTPA which will also enable JSW Italy to enhance the length of the rails being made at JSW Italy from 108 meters to up to 120 meters. Published on April 18, 2025 As per the contract, JSW Steel Italy Piombino S.P.A. is being provided a grant of €33 milion from the Italian Government.

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JSW Italy gets a grant of €33 mn from Italian Govt

JSW Italy gets a grant of €33 mn from Italian Govt
JSW Italy gets a grant of €33 mn from Italian Govt

The Development Contract intends to revive the historically important industrial site ‘Steelworks of Piombino’, by way of modernisation of the facilities and enhancement of industrial activity. The grant is towards the development of the Rail Mill Modernisation Project being implemented by JSW at Piombino at an estimated project cost of €143 million. This project will nearly double the capacity of the Rail Mill from about 0.32 MTPA to 0.6 MTPA which will also enable JSW Italy to enhance the length of the rails being made at JSW Italy from 108 meters to up to 120 meters. Published on April 18, 2025 JSW Steel Italy Piombino SPA (JSW Italy), a wholly owned subsidiary of JSW Steel, has signed a Development Contract with the Ministry of Enterprise & Made in Italy, the Tuscany Region and l’Agenzia Nazionale per l’Attrazione Degli Investimenti e lo Sviluppo d’Impresa SPA. As per the contract, JSW Steel Italy Piombino S.P.A. is being provided a grant of €33 milion from the Italian Government.

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India misses, China grabs

India misses, China grabs
India misses, China grabs

India has the world’s largest reserves of thorium — a million tonnes — particularly in its monazite-rich coastal sands. As per the three-stage nuclear programme envisioned by nuclear scientist Dr Homi Bhabha, the country would use thorium when it gets to the third stage. After 70 years of Independence, India has still not started on the second stage.“The US left its research publicly available, waiting for the right successor — we were that successor,” Xu Hongjie, a prominent Chinese nuclear physicist at the Shanghai Institute of Applied Physics, recently told the Guangming Daily. He said this after China revived a long-dormant American nuclear technology — thorium-fuelled molten salt reactor.The reactor — a small, experimental system capable of refuelling while operating — was recently brought online, marking significant progress in reimagining the future of nuclear energy. Though not ready for commercial use, it signals a global shift toward next-generation nuclear technologies.However, China swiftly picked up the technology left on the table by the Americans and created a secret facility in the Gobi Desert, near the Mongolian border. It is a small, 2MW facility, but enough to catapult China into a thorium regime.The US explored thorium reactors, especially molten salt types, back in the 1960s before shelving them in favour of uranium-based designs. Now, as the world confronts the twin challenges of climate change and energy security, thorium is making a comeback. Thorium reactors offer multiple advantages: less radioactive waste, more fuel-efficiency and lower risk of nuclear weapons proliferation.

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Published on May 4, 2025

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India misses, China grabs

India misses, China grabs
India misses, China grabs

The US explored thorium reactors, especially molten salt types, back in the 1960s before shelving them in favour of uranium-based designs. Now, as the world confronts the twin challenges of climate change and energy security, thorium is making a comeback. Thorium reactors offer multiple advantages: less radioactive waste, more fuel-efficiency and lower risk of nuclear weapons proliferation.India has the world’s largest reserves of thorium — a million tonnes — particularly in its monazite-rich coastal sands. As per the three-stage nuclear programme envisioned by nuclear scientist Dr Homi Bhabha, the country would use thorium when it gets to the third stage. After 70 years of Independence, India has still not started on the second stage.The reactor — a small, experimental system capable of refuelling while operating — was recently brought online, marking significant progress in reimagining the future of nuclear energy. Though not ready for commercial use, it signals a global shift toward next-generation nuclear technologies.“The US left its research publicly available, waiting for the right successor — we were that successor,” Xu Hongjie, a prominent Chinese nuclear physicist at the Shanghai Institute of Applied Physics, recently told the Guangming Daily. He said this after China revived a long-dormant American nuclear technology — thorium-fuelled molten salt reactor.Published on May 4, 2025

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However, China swiftly picked up the technology left on the table by the Americans and created a secret facility in the Gobi Desert, near the Mongolian border. It is a small, 2MW facility, but enough to catapult China into a thorium regime.

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Berkshire’s Geico sees turnaround after tech upgrades and job cuts

Berkshire’s Geico sees turnaround after tech upgrades and job cuts
Geico posted substantially improved results in 2024, as it curbed its appetite to issue new policies while reducing the percentage of premiums it used to pay accident claims.
Then at Berkshire’s 2024 annual meeting, Jain lamented that Geico was “still behind” but hoped by the end of 2025 to catch rivals in data analytics including pricing for risk, although Geico still enjoyed lower operating costs than “virtually anybody.”Insurers can then reward safe drivers with discounts, and price policies appropriately for other drivers.The vice chairman said Geico has made “rapid strides in telematics” and now “is as good as anyone.” Jain praised Geico’s CEO Todd Combs for reducing the company’s workforce. Geico cut more than 2,300 jobs last year.Published on May 3, 2025 “All this has allowed Geico to become a more focused competitor,” he said, adding it is too soon yet to say “mission accomplished. We have achieved a lot, but we have to do a lot more.”At Berkshire’s 2023 annual meeting, Jain lamented that Geico was behind the curve in telematics, where devices installed in vehicles let insurers monitor behavior including speed, braking, mileage and distracted driving including cellphone use. Berkshire Hathaway’s Geico car insurance unit has made progress in upgrading its technology to better match rates with risk, Berkshire Vice Chairman Ajit Jain said on Saturday.Jain, who has day-to-day oversight of Berkshire’s insurance operations, spoke at the conglomerate’s annual meeting in Omaha, Nebraska where he, Chairman Warren Buffett and Vice Chairman Greg Abel fielded shareholder questions.At Berkshire Hathaway’s annual meeting, Vice Chairman Ajit Jain said the insurer is now “as good as anyone” in telematics but cautioned that it’s still too early to declare full success, noting continued progress is needed.

At Berkshire Hathaway’s annual meeting, Vice Chairman Ajit Jain said the insurer is now “as good as anyone” in telematics but cautioned that it’s still too early to declare full success, noting continued progress is needed.

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Berkshire’s Geico sees turnaround after tech upgrades and job cuts

Berkshire’s Geico sees turnaround after tech upgrades and job cuts
Insurers can then reward safe drivers with discounts, and price policies appropriately for other drivers.
At Berkshire Hathaway’s annual meeting, Vice Chairman Ajit Jain said the insurer is now “as good as anyone” in telematics but cautioned that it’s still too early to declare full success, noting continued progress is needed.

The vice chairman said Geico has made “rapid strides in telematics” and now “is as good as anyone.” Jain praised Geico’s CEO Todd Combs for reducing the company’s workforce. Geico cut more than 2,300 jobs last year.”All this has allowed Geico to become a more focused competitor,” he said, adding it is too soon yet to say “mission accomplished. We have achieved a lot, but we have to do a lot more.”Then at Berkshire’s 2024 annual meeting, Jain lamented that Geico was “still behind” but hoped by the end of 2025 to catch rivals in data analytics including pricing for risk, although Geico still enjoyed lower operating costs than “virtually anybody.”Geico posted substantially improved results in 2024, as it curbed its appetite to issue new policies while reducing the percentage of premiums it used to pay accident claims.Published on May 3, 2025 Jain, who has day-to-day oversight of Berkshire’s insurance operations, spoke at the conglomerate’s annual meeting in Omaha, Nebraska where he, Chairman Warren Buffett and Vice Chairman Greg Abel fielded shareholder questions. Berkshire Hathaway’s Geico car insurance unit has made progress in upgrading its technology to better match rates with risk, Berkshire Vice Chairman Ajit Jain said on Saturday.At Berkshire’s 2023 annual meeting, Jain lamented that Geico was behind the curve in telematics, where devices installed in vehicles let insurers monitor behavior including speed, braking, mileage and distracted driving including cellphone use.

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FSSAI floats consultation paper on making state or central licensing mandatory for certain products

FSSAI floats consultation paper on making state or central licensing mandatory for certain products
FSSAI floats consultation paper on making state or central licensing mandatory for certain products

Published on May 2, 2025 The Food Safety and Standards Authority of India (FSSAI) has floated a consultation paper proposing to restrict permission for manufacturing certain products to food business operators holding state and central licenses only. These products include infant food products, sweetened condensed milk, packaged drinking water , mineral water and milk powders. The Authority has sought comments from stakeholders on the same.In a bid to strengthen the compliance ecosystem, now FSSAI is proposing that existing registered companies that make these products should be transitioned to mandatory licensing. It is also proposing that new players intending to manufacture these high-risk products will need to obtain state or central license to manufacture these products. Therefore, it is proposing to restrict companies that hold FSSAI registration to have permission to make these products. Earlier , manufacturers of products such as infant nutrition, packaged drinking and mineral water and condensed skimmed milk, were required to obtain mandatory certification from the Bureau of Indian Standards besides FSSAI registration or license. However in 2024, the government decided to remove mandatory BIS certification requirements as part of its efforts to ensure ease of doing measures.

Obtaining registration

The Authority noted that obtaining registration involves fewer compliance obligations compared to licensing. Food business operators that obtain FSSAI registration are not required to submit test reports of product analysis on a mandatorily basis. Unlike license holders, it is also not mandatory for FBOs with registration to submit annual returns, have qualified technical personnel to supervise the production process and conduct third-party audits. They only need to comply with very basic hygiene and sanitary standards compared to licensed FBOs. “Additionally, Registered FBOs may lack the technical, financial and infrastructural capabilities to ensure safe production, especially for technically demanding products like infant foods and packaged drinking water,” FSSAI noted in its consultation paper.Currently, food business operators manufacturing these products are required to obtain either FSSAI registration or license based on their eligibility.The Authority said once finalised a special drive will be conducted to convert existing registered FBOs to license category. It also said that about a six months transition period will be given to allow FBOs to shift to the licensing category. As per its estimates, there are over 11,000 food business operators that make such products and hold FSSAI registration.  “ To further strengthen the compliance ecosystem it has been proposed that no new Registrations and renewal of existing registration shall be allowed for manufacturing of the specified products. Only State or Central Licenses shall be permitted,” it stated.

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FSSAI floats consultation paper on making state or central licensing mandatory for certain products

FSSAI floats consultation paper on making state or central licensing mandatory for certain products
FSSAI floats consultation paper on making state or central licensing mandatory for certain products

“ To further strengthen the compliance ecosystem it has been proposed that no new Registrations and renewal of existing registration shall be allowed for manufacturing of the specified products. Only State or Central Licenses shall be permitted,” it stated.The Authority said once finalised a special drive will be conducted to convert existing registered FBOs to license category. It also said that about a six months transition period will be given to allow FBOs to shift to the licensing category. As per its estimates, there are over 11,000 food business operators that make such products and hold FSSAI registration.  Currently, food business operators manufacturing these products are required to obtain either FSSAI registration or license based on their eligibility.The Authority noted that obtaining registration involves fewer compliance obligations compared to licensing. Food business operators that obtain FSSAI registration are not required to submit test reports of product analysis on a mandatorily basis. Unlike license holders, it is also not mandatory for FBOs with registration to submit annual returns, have qualified technical personnel to supervise the production process and conduct third-party audits. They only need to comply with very basic hygiene and sanitary standards compared to licensed FBOs. “Additionally, Registered FBOs may lack the technical, financial and infrastructural capabilities to ensure safe production, especially for technically demanding products like infant foods and packaged drinking water,” FSSAI noted in its consultation paper.

Obtaining registration

In a bid to strengthen the compliance ecosystem, now FSSAI is proposing that existing registered companies that make these products should be transitioned to mandatory licensing. It is also proposing that new players intending to manufacture these high-risk products will need to obtain state or central license to manufacture these products. Therefore, it is proposing to restrict companies that hold FSSAI registration to have permission to make these products. Published on May 2, 2025 The Food Safety and Standards Authority of India (FSSAI) has floated a consultation paper proposing to restrict permission for manufacturing certain products to food business operators holding state and central licenses only. These products include infant food products, sweetened condensed milk, packaged drinking water , mineral water and milk powders. The Authority has sought comments from stakeholders on the same.Earlier , manufacturers of products such as infant nutrition, packaged drinking and mineral water and condensed skimmed milk, were required to obtain mandatory certification from the Bureau of Indian Standards besides FSSAI registration or license. However in 2024, the government decided to remove mandatory BIS certification requirements as part of its efforts to ensure ease of doing measures.

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