Industry Odisha Bureau, Aug 27: Lloyds Metals’ surging iron ore production is reshaping its steelmaking strategy. The company is evaluating a substantially larger steel plant at Konsari, Maharashtra. Potential capacity could reach 8 million tonnes annually. This marks a significant step toward vertical integration and downstream value creation. The original plan envisioned a 3 mtpa facility at the site. Environmental clearance was granted for 4.5 mtpa last year. Management is now studying whether even larger scale makes commercial sense. Final board approval remains pending on the eventual capacity decision. Iron ore production reached 21.96 million tonnes in fiscal 2026. Output…
Author: Industry Odisha
Industry Odisha Bureau, Aug 27: A total of 12716 hectares of forest land has been diverted for non-forestry purposes including execution of various projects including railway, road, mining, irrigation, industry, and energy during the last five years in Odisha. According to official data, the Ministry of Environment, Forest & Climate Change (MOEF&CC) has given clearance for diversion of12716.27 hectares of the forest land under the Van (Sanrakshan Evam Samvardhan) Adhiniyam 1980. While 1002.13 hectares of forest land was diverted in the state during the financial year 2021-22, the volume increased to 2748.43 hectares in the next financial year. The amount…
Industry Odisha Bureau, Aug 27: Amid the ongoing Middle East supply chain disruptions as well as the cloud of uncertainty hovering over the tug of war between the USA and Iran, crude oil prices reportedly declined today yet again. As per media reports, “The Brent Crude Oil Futures slipped 60 cents (0.7%) to $87.24 per barrel marking the fourth consecutive day of losses, while the West Texas Intermediate (WTI) Crude Futures dropped 56 cents (0.7%) to $81.67% extending the to a fifth straight decline.” Reasoning out the current state of affairs regarding the crude oil prices, media reports have stated…
Industry Odisha Bureau, Aug 27: California Menlo Park-headquartered American multinational technology company Meta’s chief executive officer (CEO) Mark Zuckerberg had to reportedly drag his feet from effecting his major layoff plan in the workforce owing to revolt by the existing staff against his ‘AI Native’ drive. International media reports have claimed that, “In a bid to implement his major plan, code-named ‘Project OT (Organization Transformation)’ envisioning an ‘AI Native’ future for Facebook and Instagram, Meta’s CEO Mark Zuckerberg had aimed at a big layoff by slashing the size of employees to 60% in two phases. However, he had to call…
Industry Odisha Bureau, Aug 27: San Francisco-headquartered American artificial intelligence (AI) public benefit corporation has reportedly announced that its official ChatGPT would start displaying free advertisements for the Indian users in view of the upcoming festive season. Media reports reports have stated that, “OpenAI has planned to turn India into a testing ground for its advertising model following which brands would be provided with a new route to reach ChatGPT users while promising safeguards around privacy, relvance and user esperience. OpenAI had on February 9 this year announced its pilot plan for advertisements within ChatGPT and had undergone testing advertisements…
Industry Odisha Bureau, Aug 27: The global economy is caught between an energy disruption and artificial intelligence investment boom. IMF Managing Director Kristalina Georgieva said the disruption has been weathered better than expected. Oil and gas reserve drawdowns and non-Gulf supply increases cushioned the energy shock substantially. Simultaneously, artificial intelligence investment has emerged as an important positive economic growth force globally. The Strait of Hormuz closure created significant supply disruption risks across global energy markets. However, strategic drawdowns of oil and gas reserves provided important short-term relief substantially. Increased non-Gulf oil and gas production also helped reduce the overall energy…
Industry Odisha Bureau, Aug 27: India attracted $30.7 billion in gross foreign direct investment during April-June 2026 quarter. This marked the highest quarterly inflow recorded in at least fifteen years globally. The Reserve Bank of India released the data, reflecting continued global investor interest. Net FDI for the quarter reached $7.8 billion, strongest performance since June 2022. Gross FDI inflows measure investment entering India, while net FDI reflects adjusted total. Distinguishing between the two provides clearer insight into foreign investment flow dynamics substantially. Gross inflows of $30.7 billion were nearly forty-six percent higher than March 2026. Compared with the June…
Industry Odisha Bureau, Aug 27: Indian stock markets are expected to open lower on Friday amid mixed global cues. Gift Nifty was trading around the twenty-four thousand three hundred fifty-seven level. This represented a discount of nearly seventy-two points from Nifty futures’ previous close. The cautious opening signals reflect competing influences from Asian, American and technology markets. Asian stock markets traded higher on Thursday as investors monitored China’s industrial profit data. Japan’s Nikkei two hundred twenty-five eased zero point three one percent during trading. The Topix index rose zero point two four percent, showing modest positive momentum. South Korea’s Kospi…
Industry Odisha Bureau, Aug 27: Crude oil prices have declined sharply in recent days despite significant geopolitical tensions. Brent crude fell approximately six percent over two days to eighty-five dollars. Prices moved below the ninety-dollar-per-barrel level on Wednesday trading in global markets. This recent decline occurred despite tighter US economic sanctions against Iran designed. The market’s response reveals important insights regarding who controls the contested Strait. Iran and Oman discussed joint operation of a shipping path through waters. Market movements suggest traders view reduced supply disruption risks as increasingly likely. The Strait of Hormuz remains one of the world’s most…
Industry Odisha Bureau, Aug 27: Central bank communication has become increasingly critical during periods of unprecedented financial uncertainty globally. The 2008 financial crisis fundamentally reshaped how policymakers approach the central bank toolkit. Following that crisis, central banks globally recognized communication as an essential policy instrument. Explicit price-stability objectives and inflation-targeting frameworks subsequently elevated communication’s role significantly within monetary policy. However, the communication matrix has become more complex as central banks differentiate messaging. Policy statements, committee minutes, speeches, reports and guidance are designed for distinct audiences. This complexity creates challenges when global flux increases uncertainty across geopolitical, economic and financial dimensions.…