Category Archives: economy

business, economy, international, politics, war

Trump says his intervention was ‘very effective’ in India-Pakistan conflict

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US President Donald Trump on Monday described his use of tariffs as a measure to stop wars, calling them a vital tool for peacekeeping. He further asserted that his communication with India and Pakistan during their recent conflict was “very effective,” claiming his actions helped end the battle between the nuclear-armed neighbors through trade.

“Tariffs are very important for the United States. We are a peacekeeper because of tariffs. Not only do we make hundreds of billions of dollars, but we’re a peacekeeper because of tariffs,” Trump said during an Oval Office interview, according to reports by news agency PTI.

The US President emphasized that without the “power of tariffs,” multiple wars would still be ongoing. “I use tariffs to stop wars. If you look at India and Pakistan, they were ready to go at it. Seven planes were shot down. They were ready to go at it. And they are nuclear powers. And I don’t want to say exactly what I said, but what I said was very effective. They stopped. And that was based on tariffs. It was based on trade,” he added.

India, however, has consistently denied any third-party intervention in the conflict. The tensions escalated after India launched Operation Sindoor on May 7, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir in retaliation for the April 22 Pahalgam attack that killed 26 civilians.

Following four days of intense cross-border drone and missile strikes, India and Pakistan reached an understanding on May 10 to end the conflict. India has maintained that this cessation of hostilities resulted from direct talks between the Directors General of Military Operations (DGMOs) of the two nations.

Prime Minister Narendra Modi has also made it clear in Parliament that no foreign leader requested India to halt Operation Sindoor.

President Trump has claimed multiple times that he ended seven wars during the second term of his administration, including conflicts involving India and Pakistan, Cambodia and Thailand, Kosovo and Serbia, Congo and Rwanda, Israel and Iran, Egypt and Ethiopia, and Armenia and Azerbaijan.

Since May 10, when Trump announced via social media that India and Pakistan had agreed to a “full and immediate” ceasefire after a “long night” of talks mediated by Washington, he has repeatedly stated that he “helped settle” the conflict between the two countries.

Trump added that out of the seven wars he ended, at least half were due to his “ability at trade and because of tariffs.” “If I didn’t have tariffs to throw around a little bit, you would have at least four wars raging right now, with thousands of people a day being killed,” he said.

(With inputs from PTI)
https://www.mid-day.com/news/world-news/article/what-i-said-was-very-effective-they-stopped-donald-trump-on-india-pakistan-conflict-23597574

asia, business, economy, international, women

5 Philippine biz leaders on Fortune’s list of ‘Most Powerful Women’ in Asia

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MANILA, Philippines — Five women leaders in the Philippine corporate world have landed on Fortune Magazine’s list of Asia’s 100 Most Powerful Women for “leveraging regional and global volatility for business advantage.”

Among them, Mynt president and CEO Martha Sazon is the top-ranking business leader from the Philippines, securing the 37th spot on the prestigious list.

Sazon is recognized for her outstanding leadership and strategic vision in steering her company through challenging times, positioning it for sustained growth and success.

https://business.inquirer.net/551151/5-philippine-biz-leaders-on-fortunes-list-of-most-powerful-women-in-asia

agriculture, economy, international, politics

Congress slams Centre over delay in relief for rain-hit farmers in Maharashtra

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The opposition party has accused the government of delaying aid to rain-hit farmers in Maharashtra, attributing the hold-up to bureaucratic processes.

Maharashtra Congress chief Harshwardhan Sapkal strongly criticized the BJP for its indifference towards the farmers’ plight. He urged the government to provide immediate relief without waiting for a formal proposal from the state.

https://www.mid-day.com/news/india-news/article/maharashtra-floods-centre-delaying-financial-aid-to-rain-hit-farmers-in-state-alleges-congress-23597456

business, economy, international, science, technology

AMD shares surge 25% on chip supply deal with OpenAI

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**AMD Shares Soar 25% Following Major AI Chip Supply Deal with OpenAI**

*By Mudit Dube | October 6, 2025*

Advanced Micro Devices (AMD) has entered into a multi-year agreement to supply artificial intelligence (AI) chips to OpenAI, marking a significant milestone for both companies. This landmark deal is expected to generate tens of billions of dollars in annual revenue for AMD and offers OpenAI an option to acquire up to a 10% stake in the chipmaker.

The partnership serves as a strong endorsement of AMD’s AI chips and software capabilities and aligns with the company’s strategic efforts to deepen its presence in the fast-expanding AI market.

**Market Reaction: Shares Surge 25%**

Following the announcement, AMD shares jumped 25% in premarket trading. Forrest Norrod, AMD’s Executive Vice President, described the deal as “certainly transformative, not just for AMD, but for the dynamics of the industry,” highlighting its potential to reshape the AI chip landscape.

The agreement involves deploying hundreds of thousands of AMD AI chips and graphics processing units (GPUs), representing a capacity of six gigawatts over several years beginning in the second half of 2026.

**OpenAI to Establish 1-Gigawatt Facility Using AMD Chips**

A key component of the deal includes OpenAI’s plan to establish a one-gigawatt facility powered by AMD’s next-generation MI450 series chips starting next year. This facility is expected to kickstart revenue generation for AMD shortly thereafter.

AMD anticipates that this partnership, combined with ripple effects from other customers, could bring in more than $100 billion in new revenue over the next four years.

**Context and Industry Impact**

OpenAI CEO Sam Altman expressed confidence that the collaboration with AMD will help the organization build sufficient AI infrastructure to support its ambitious projects.

This development follows NVIDIA’s announcement to invest up to $100 billion in OpenAI and supply at least 10 gigawatts of its systems. Meanwhile, OpenAI continues to work on developing its own AI-specific silicon in partnership with Broadcom, underscoring its multi-faceted approach to building robust AI hardware capabilities.

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This deal marks a pivotal moment in the AI hardware sector, emphasizing AMD’s growing influence and OpenAI’s commitment to scaling its AI infrastructure through diverse strategic partnerships.
https://www.newsbytesapp.com/news/business/amd-inks-multi-year-ai-chip-deal-with-openai/story

central bank, economy, finance, interest rates, peso

BSP seen keeping key rates steady

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The Bangko Sentral ng Pilipinas (BSP) is expected to leave interest rates unchanged this week, pausing after three consecutive cuts.

Officials are taking a cautious approach as they wait for clearer signals on the state of the economy. At the same time, they are carefully weighing the recent slide of the peso.

In a survey conducted last week by the Inquirer, ten out of sixteen economists projected that the Monetary Board (MB) will maintain the current interest rates.
https://business.inquirer.net/550892/bsp-seen-keeping-key-rates-steady-4

business, economy, finance, international, stock market

Fears of £600bn stock market exodus to New York

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A host of household names could quit the stock market in a £600 billion exodus from London, analysts have warned. AstraZeneca, Shell, BP, and Rio Tinto are among those seen to be “at risk” of moving their main listings to New York in what would be a devastating blow to the City.

Analysis by broker AJ Bell identified ten London-listed firms that do so much business in the US, or have so many shareholders there, that they may be tempted to make the switch. The combined value of these firms—which also include Compass, Experian, Bunzl, Smith & Nephew, Rentokil, and Fresnillo—is £620 billion.

“An onslaught of UK-listed companies upping sticks for the US would be terrible for the reputation of the London market,” said Dan Coatsworth at AJ Bell.

Miners Glencore and Anglo American, worth a combined £73 billion, have ruled out moving to New York. However, it is feared that an exodus by other top firms could see them change their minds.

Some companies have already made the switch, including CRH, Flutter, Indivior, and Ferguson, while Ashtead and Wise are in the process of moving their listings.

Coatsworth added that there is a list of UK firms that could “make a good argument for switching their main stock listing to the US.” He explained, “The more companies that move, the more the topic will be discussed in the boardroom by other companies that have a US presence.”

The latest bout of anxiety about an exodus comes after AstraZeneca last week announced plans for a full listing in New York alongside London, sparking fears it could lead to a permanent move.
https://www.thisismoney.co.uk/money/markets/article-15164387/Fears-600bn-stock-market-exodus-New-York.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

culture, economy, finance, lifestyle, technology

MAGGIE PAGANO: Cash is still king, right? Wrong

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If you have heard reports of a rather sweaty woman in gym gear running around the streets of Saffron Walden brandishing a crisp £50 note and cursing under her breath, that was me.

After the gym, I had stopped off at the health food shop to stock up on a few things, handing the assistant the £50 tucked into my leggings. The assistant refused my money. “But surely it’s legal tender,” I cried, “you can’t refuse it.” She didn’t budge, explaining that head office had told them not to accept £50 notes because of counterfeit concerns.

Determined, I went to the butcher’s shop opposite, where I know the staff, asking if they could break the note. Same story—no £50 notes accepted. They suggested I go to a bank. Not such a bad idea, I thought.

However, my bank, Barclays, closed long ago and only two banks remain in town. I ran to Nationwide, where there was a long queue. Explaining my problem, I asked the waiting customers if I could ask the cashier to change the note. They all said yes, of course.

One gentleman took one look at my Queen’s-head note and confidently said it wasn’t fake. That felt like a small victory. The chatter in the queue caught the cashier’s attention, and he stepped out to examine the note himself. He agreed—it was genuine. Another victory!

“But are you a Nationwide customer?” he asked. It felt like a trick question—and it was. Nationwide does not change money if you are not a customer.

By then, I was ready to raise an Essex peasants’ revolt against shops that don’t take money and banks that don’t change banknotes. As luck would have it, one of the kind ladies in the queue opened her wallet, checked her cash, and offered to change my £50.

My first call was to the Bank of England.

**Can vendors refuse to take cash?**

Yes, says the press officer—they can. Even though cash is legal tender, the concept has a narrow, technical legal definition related to contracts. No one is obliged to accept cash in exchange for goods.

**So why is cash usage shrinking so fast?**

Is it because vendors find cash messy to deal with? Are business owners being pushed by payment giants to go digital so they can be charged more? Or do most people simply prefer using cards or, increasingly, mobile payment apps? It’s probably a chicken-and-egg situation.

Whatever the reason, cash is under the kibosh. It made up just 9% of payments last year, compared to nearly half of all transactions a decade ago. It’s predicted to fall to 4% over the next ten years.

**But what happens in emergencies?**

Imagine a cyber hack or cyber warfare brings down banks. Or there are blackouts, like those recently experienced in Spain and Portugal. Or other crises such as another lockdown or war.

Being resilient is why countries such as Norway, Sweden, and the Netherlands have warned their citizens to always keep cash in reserve. They’re also introducing legislation ensuring vendors must accept cash.

The European Central Bank is alert to these dangers as well. All households have been advised to store cash at home in case digital systems fail—as they inevitably will.

In contrast, the Bank of England does not have the mandate to issue such warnings; that responsibility lies with the Government. Interestingly, its Governor, Andrew Bailey, told a recent Citizens’ Panel in Wolverhampton that he always carries cash with him in case of emergencies.

Does that include any £50 notes, I wonder?
https://www.thisismoney.co.uk/money/comment/article-15164391/MAGGIE-PAGANO-Cash-king-right-Wrong.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

business, economy, energy, india, mining

Arunachal Pradesh’s first commercial coal mine starts operations tomorrow

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**Arunachal Pradesh’s First Commercial Coal Mine to Begin Operations Tomorrow**

*By Dwaipayan Roy | October 5, 2025, 6:41 PM*

Arunachal Pradesh is set to enter the coal mining industry with the inauguration of its first commercial coal mine at the Namchik-Namphuk coal block in Changlang district tomorrow. The ceremony will be led by Union Coal Minister G Kishan Reddy, who will perform the Bhoomi Poojan and officially hand over the mining lease.

As part of the event, Minister Reddy will also flag off machinery for Coal Projects Private Limited (CPPL), the company that will commence operations at the site. In a move towards environmental sustainability, he will plant 100 trees to support a green initiative.

### The Journey of Namchik-Namphuk Coal Block

The Namchik-Namphuk coal block holds significant reserves estimated at 1.5 crore tons. Originally allocated in 2003, the project faced numerous delays and operational hurdles over the years. However, in 2022, the coal block was revived through a transparent auction process, marking a new era of private sector participation in Arunachal Pradesh’s mining sector.

This marks a milestone not only for the state but also for India, which currently ranks as the world’s second-largest coal producer. Arunachal Pradesh is now poised to contribute to this status through its maiden commercial coal mining activity.

### Economic Impact and Employment

The commercial mining launch is expected to generate over ₹100 crore in annual revenue for Arunachal Pradesh. Beyond revenue generation, the project is anticipated to create substantial employment opportunities for the local youth, boosting the state’s socio-economic development.

This initiative aligns with Prime Minister Narendra Modi’s vision of EAST – Empower, Act, Strengthen, Transform – which guides development efforts across India’s Northeast region.

### Promoting Responsible Resource Management

By formalizing coal mining operations, the state aims to eradicate illegal mining activities that have previously led to resource exploitation and wastage. This move is expected to introduce transparency and accountability in managing Arunachal Pradesh’s precious natural resources.

Moreover, the government has announced plans to auction two critical mineral blocks in Arunachal Pradesh and five additional blocks in Assam. This highlights the growing importance of the Northeast region within India’s strategic and technological mineral landscape.

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The inauguration of the Namchik-Namphuk coal mine marks a new chapter for Arunachal Pradesh, setting the stage for sustainable development while contributing to India’s overall energy and mineral production goals.
https://www.newsbytesapp.com/news/business/arunachal-pradesh-to-start-commercial-coal-mining-on-october-6/story

business, economy, energy, india, mining

Arunachal Pradesh’s first commercial coal mine starts operations tomorrow

Leave a comment

**Arunachal Pradesh’s First Commercial Coal Mine to Start Operations Tomorrow**

*By Dwaipayan Roy | October 5, 2025, 6:41 PM*

Arunachal Pradesh is set to inaugurate its first commercial coal mine at the Namchik-Namphuk coal block in Changlang district tomorrow. The ceremony will be led by Union Coal Minister G Kishan Reddy, who will perform the Bhoomi Poojan and officially hand over the mining lease. Additionally, he will flag off machinery for Coal Projects Private Limited (CPPL) to begin operations at the site and plant 100 trees as part of a green initiative.

**Namchik-Namphuk Coal Block: A Historical Overview**

The Namchik-Namphuk coal block, which holds reserves of approximately 1.5 crore tons, was initially allocated in 2003. However, the project faced several delays and stoppages due to operational challenges over the years. In 2022, the block was revived through a transparent auction process, facilitating private sector participation in Arunachal Pradesh’s mining industry.

This marks a significant milestone for Arunachal Pradesh as it embarks on its coal mining journey, positioning itself within India’s coal sector — India being the world’s second-largest coal producer.

**Economic Impact: Revenue and Employment**

The commencement of commercial coal mining in Arunachal Pradesh is expected to generate over ₹100 crore annually in revenue for the state. More importantly, it will create valuable employment opportunities for local youth, contributing to the region’s economic development.

This initiative aligns with Prime Minister Narendra Modi’s vision of EAST (Empower, Act, Strengthen, Transform), a guiding philosophy aimed at uplifting the Northeast region of India through sustainable growth and development.

**Sustainable Resource Management and Future Plans**

The launch of formal commercial mining will help curb illegal mining, exploitation, and wastage of the state’s natural resources. It is anticipated to bring greater transparency and accountability to the management of Arunachal Pradesh’s rich mineral wealth.

Furthermore, the government has announced plans to auction two critical mineral blocks in Arunachal Pradesh and five in Assam. These moves underscore the growing strategic importance of the Northeast region in India’s technological and mineral landscape.

With these developments, Arunachal Pradesh is poised to play a vital role in India’s broader mining sector while promoting sustainable economic growth.
https://www.newsbytesapp.com/news/business/arunachal-pradesh-to-start-commercial-coal-mining-on-october-6/story

agriculture, economy, politics

State should help farmers, not take from them: Sharad Pawar

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Sharad Pawar has expressed concern over the major losses suffered by farmers across the state due to heavy rains. He criticized the state government’s decision to forcibly recover funds from sugarcane producers for the Chief Minister’s Relief Fund, calling it “completely wrong.” Pawar urged the Chief Minister to reconsider this decision and emphasized the need for proper damage assessment and government support for the affected farmers.

According to Pawar, “Farmers and crops have suffered significant losses due to excessive rainfall. Data from the Vasantdada Sugar Institute shows that sugarcane crops have been severely damaged in many areas of Marathwada and Western Maharashtra.” He added that a detailed assessment of the damage is necessary.

Pawar also mentioned that a Governing Council meeting, which will include all sugar factories in the state, is scheduled for the 12th. He expressed hope that the state government would provide maximum assistance to farmers following this meeting, as reported by ANI.

Meanwhile, Maharashtra Chief Minister Devendra Fadnavis defended the state government’s decision to impose a levy on sugar mills. He clarified that the contribution would be taken from the profits of the mills and not from the farmers’ earnings, according to PTI.

Last week, in response to the heavy rainfall and flood-related losses across parts of Maharashtra, the government announced a levy of Rs 10 per tonne of sugarcane on mills for the Chief Minister’s Relief Fund, along with an additional Rs 5 per tonne to assist flood-affected farmers.

Opposition leaders have alleged that this decision will adversely affect farmers. However, speaking at an event at a sugar factory, CM Fadnavis stated, “There are around 200 mills in the state. One mill may have to contribute about Rs 25 lakh to the CMRF. We are seeking funds from the profits of sugar mills, not from farmers,” reported PTI.

(With ANI and PTI)
https://www.mid-day.com/news/india-news/article/maharashtra-floods-state-should-help-farmers-not-take-from-them-says-ncp-sp-chief-sharad-pawar-23597312