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NEW DELHI: Indian startups with turnover in excess of Rs 25 crore may have to pay income tax even though they may be eligible for the three-year tax holiday announced by the government. That’s because under tax laws, the threshold for exemption remains at Rs 25 crore. It has not yet been enhanced to Rs…
DetailsA slowdown in production at the ArcelorMittal Tin Mill in Weirton will result in nearly 100 workers expected to be laid off in phases beginning this week. ArcelorMittal said “In order to maintain its position as a competitive and sustainable tin plate producer, ArcelorMittal Weirton will lay off approximately 100 employees for an indefinite period…
DetailsHere are five Fastmarkets MB stories you might have missed on Wednesday August 21 that are worth another look. Swiss trading house Trafigura has begun blending copper concentrates in Malaysia, with small batches of output being offered to the market, Fastmarkets has learned. Zinc premiums in the United States widened upward in the week to Tuesday…
DetailsGlobal crude stainless steel production is predicted to reach a new record annual total of 53.1 million tonnes, in 2019. This would exceed the previous high figure, set last year, by more than 4.6 percent. Despite strong expansion in emerging countries, such as India and Indonesia, Chinese growth continues to outstrip the world average. MEPS’…
DetailsNLMK Group (LSE: NLMK; MOEX: NLMK) is pleased to announce that it has joined the United Nations Global Compact, the world’s largest sustainable development and corporate social responsibility initiative. As a participant of the UN Global Compact, NLMK Group voluntarily commits to align its operations and strategy with ten universally accepted principles in the areas…
DetailsMoscow, 30 April 2019 – RUSAL, a leading global aluminium producer, announces its operating results for the first quarter 2019 (“1Q19”). Key highlights Aluminium Aluminium production in 1Q19 totaled 928 thousand tonnes (-1.6% quarter-on-quarter (“QoQ”)), with Siberian smelters representing 93% of total aluminium output; In 1Q19, aluminium sales amounted to 896 thousand tonnes. In 1Q19…
DetailsRUSAL (486 Hong Kong, RUAL Moscow Exchange), one of the largest aluminium producers in the world, will plant 500 thousand trees in the Irkutsk region, as part of the Company’s climate strategy on greenhouse gas absorption. During the St. Petersburg Economic Forum, RUSAL, the Federal Forestry Agency and the Government of the Irkutsk region signed…
DetailsThe Gornaya mine in Lugansk region is operating in emergency mode and could drown because of electricity debts. Since August 1 the Pervomayskugol mine has not been able to operate in normal mode. The mine is also lacking spare parts. If the situation is not stabilized, the mine will be flooded. (Ukrainian metal)
DetailsRustechnogroup has paid a multi-million tax debt after the regional bailiffs arrested the company fleet. The Belgorod-based enterprise of the company producing construction metal structures owed 5.4 million rubles of taxes. The bailiffs asked to arrest the company accounts and prohibit any registration activities with its cars. As of today all the prohibitions have been…
DetailsKyshtym Electrolytic Copper Plant has received a set of power machinery for the copper foil electrolysis shop under construction. In particular, the company has received two out of six rectifiers and four dry transformers with the capacity of 3.2 MW each. The machinery will be assembled when the construction works in the new shop are…
DetailsIn January-July 386.5 million tons of cargo were transported in Ukraine, up by 8.5% YoY. According to the State Statistics Service, railroad accounted for 152.1 million tons of cargo, down by 0.9%. The transportation of ferrous scrap dropped by 16.4%, of coke – by 13.7%, of coal – by 5.7% and of ferrous metals –…
DetailsKrivoy Rog Iron Ore Industrial Complex in January-July decreased iron ore output by 13% YoY, to 2.519 million tons. In July output grew by 391 thousand tons from 378 thousand tons in June. In 2018 the company produced 4.581 million tons of ore, down by 9.7% YoY. (Ukrainian metal)
DetailsIn January-June Norilsk Nickel increased consolidated revenue by 8% YoY, to $6.3 billion. Net profit grew by 81%, to $2.997 billion. EBITDA went up by 21%, to $3.7 billion. Capital investments remained almost on the level of 2018 – $500 million. (Ukrainian metal)
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