NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government will withdraw enhanced surcharge levied on long and short-term capital gains. The FM also announced the withdrawal of enhanced surcharge on FPIs. Pre-Budget position restored on surcharge on domestic investors too, she told media. Data showed FPIs have pulled out Rs 23,000 crore from…
POSCO has completed the construction of its first overseas plant that produces cathodes for rechargeable batteries, signaling its entry into the global battery market. The company held a completion ceremony for the plant in Zhejiang Province, China, which can manufacture 5,000 tonsne of cathodes a year. The POSCO board approved a plan to set up…
Brazilian steelmaker Usiminas is currently operating at 42% of its rolling capacity for flat steel, chief executive officer Sergio Leite told reporters on the sidelines of the Brazilian Steel Conference on Wednesday August 21. Weak market conditions were restricting the throughput at the company’s Cubatão and Ipatinga units, while global trade protectionism was preventing the…
Business activity, in August, is generally subdued in the Nordic markets, as participants return from annual holidays. The US-China trade war continues to have a negative effect on sentiment. Reduced automotive production, principally in Germany, is starting to disturb other market sectors. Uncertainty surrounding Brexit is having a disruptive impact on trade flows. These factors…
In January-June automobile transportation of metal and mining products decreased. In particular, transportation of iron ore fell by 40%, to 415.3 thousand tons, and of metal – by 15.6%, to 1.49 million tons. According to the State Statistics Service, transportation of iron, steel, pig iron and ferroalloys dropped by 2.4%, to 370 thousand tons, of…
As of August 1, Magadan region has extracted 23.791 tons of gold, up by 4886 kg YoY. Tenkinskiy city district provided the most ore gold – 11496.1 kg. Alluvial gold output totaled 8022.8 kg, with the most gold contributed by Yagodinskiy city district (3304.6 kg). The region has also mined 388.4 tons of silver. The…
MirBlagMet LLC, developing alluvial gold deposits in Amur region, has since the start of the season obtained 73 kg of gold. The rise of the water level in the Dugda River, where the company is operating, has complicated the sand washing. If the water level continues increasing, the company will have to suspend operation. At…
Magnitogorsk was removed from a list of Russian cities with very high levels of air pollution, according to a report by the Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet) in 2018. Thanks to MMK’s large-scale environmental programme, the Comprehensive Air-quality Index (CAI) indicator for the city will be reduced to a low level by…
