Skip to content
Search AI Powered

Latest Stories

Russia-Ukraine war: Indian company’s containers remain stuck at Antwerp for a year

Russia-Ukraine war: Indian company’s containers remain stuck at Antwerp for a year

A prominent Indian metals company's containers bound for Russia have been stuck at the port of Antwerp for more than a year.

Jindal Stainless Ltd said its five containers carrying about 100 tonnes of stainless steel have been unable to enter the European Union because of sanctions imposed on Russia.

But the company said stainless steel is not on the list of goods sanctioned by the EU.

The cargo was dispatched in February last year - around the time the ongoing Russia-Ukraine military conflict began.

Jindal Stainless, India's largest stainless steel producer having customers in 60 countries, indicated its containers should be cleared for their onward movement.

It, however, did not answer Eastern Eye’s questions as to how the authorities in Belgium have responded to the matter and when it expects clearance for the transit.

The company reported consolidated revenue of £1.72 billion for the first nine months to December 2022, compared to £1.47 bn a year earlier.

More For You

Foodspeed

Foodspeed is a major supplier to the hotel, restaurant, and catering industry in London, providing milk, dairy products, and ingredients to over 500 clients. (Photo: X/@FoodspeedLtd)

Foodspeed awarded royal warrant by King Charles

FOODSPEED has been granted a royal warrant by King Charles to supply fresh milk, dairy products, and provisions to the royal household.

The company has been serving the royal household for over 15 years and previously held a royal warrant from Queen Elizabeth since 2012.

Keep ReadingShow less
Rachel Reeves

Chancellor Rachel Reeves responded to the figures, acknowledging the scale of the challenge. (Photo: Getty Images)

Economy stagnates in third quarter, revised data shows

THE UK’s economy saw no growth in the third quarter, according to revised data released on Monday, marking a setback for the Labour government.

The Office for National Statistics (ONS) reported that gross domestic product (GDP) showed zero growth between July and September, down from the previously estimated 0.1 per cent growth.

Keep ReadingShow less
London Stock Exchange

The benchmark index dropped 0.3 per cent, while the mid-cap FTSE 250 rose 0.3 per cent after hitting a near one-month low earlier in the day. (Photo: Getty Images)

FTSE 100 logs worst weekly drop since October 2023

THE FTSE 100 fell to its lowest level since 13 November on Friday, logging its sharpest weekly decline since October 2023 amid a week dominated by central bank policy decisions.

The benchmark index dropped 0.3 per cent, while the mid-cap FTSE 250 rose 0.3 per cent after hitting a near one-month low earlier in the day.

Keep ReadingShow less
Boohoo shareholders block Mike Ashley’s bid to join board
Mahmud Kamani

Boohoo shareholders block Mike Ashley’s bid to join board

SHAREHOLDERS of online fast-fashion retailer Boohoo have firmly rejected billionaire Mike Ashley’s attempt to secure a seat on its board. The decision, made at a shareholder meeting on Friday (20), follows a series of heated exchanges between Boohoo and Ashley’s Frasers Group.

A decisive 64 per cent of votes were cast against allowing Ashley and his associate, Mike Lennon, to join Boohoo’s board. Excluding Frasers Group’s 28 per cent stake in Boohoo, nearly all remaining investors voted against the proposal, reported the Financial Times.

Keep ReadingShow less
UK-retail-sales-Getty

Christmas shoppers are seen in Covent Garden on December 6, 2024 in London. (Photo: Getty Images)

Retail sales rise by 0.2 per cent in November after pre-budget decline

UK RETAIL sales increased by 0.2 per cent in November, according to official data, reflecting a modest recovery after October’s decline as concerns about the government’s budget eased. However, the growth was weaker than the 0.5 per cent increase forecast by economists polled by Reuters.

The Office for National Statistics (ONS) reported that the November rise marked the first increase since August. Over the three months to November, sales volumes grew by just 0.3 per cent, the weakest performance since the three months to June. Sales volumes had dropped by 0.7 per cent in October amid caution ahead of Chancellor Rachel Reeves’ tax and spending plan.

Keep ReadingShow less