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☆ Industries from cars to coal to ice cream could be impacted by Baltimore bridge collapse
▼ + stars: | 2024-03-27 | by ( Kelsey Vlamis | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

The Francis Scott Key Bridge collapse has blocked shipments in and out of the Port of Baltimore. The port is a key shipping point for cars, construction and farm equipment, and coal. The Port of Baltimore is the top US port for roll-on/roll-off cargo, like cars and construction machinery. halbergman/Getty ImagesCoal, gypsum, and sugarIn 2022, coal was among the top export commodities by weight moved through the Port of Baltimore. A research briefing from Oxford Economics said the bridge collapse will likely have a greater impact on the local Baltimore economy than on a national level.

Persons: Francis Scott Key, —, Dali, Daraius Irani, Anirban Basu, Ford, Basu, Domino, Sugar, Irani Organizations: Service, Industry, Regional Economic Studies, Towson University, Sage Policy, General Motors, Caterpillar, Port, Baltimore Refinery, Oxford Economics Locations: Port of Baltimore, Port, Baltimore, Patapsco, India, West Virginia

☆ A staggering amount of money is slipping away due to the Baltimore bridge collapse
▼ + stars: | 2024-03-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Experts told Business Insider that the port alone contributes $15 million in daily economic activity, which will come to a near standstill "until further notice." While some cargo will have to wait, container ships can largely be rerouted to other east coast locations. Ryan Peterson, the CEO of global logistics firm Flexport, told Business Insider that 800 containers of his were destined for Baltimore, and are now being rerouted. And it's unclear whether East Coast ports will have enough available capacity to absorb Baltimore's container volume, Petersen said. A risk for Baltimore will be whether those route changes are temporary, or if they'll have a lasting impact on the port's business.

Persons: —, Baltimore's Francis Scott Key, Port, Anirban Basu, It's, Basu, Daraius Irani, Ryan Peterson, Petersen, we're, Martin Dresner Organizations: Service, Business, Sage Policy, Regional Economic Studies, Towson University, University of Maryland's Smith School of Business Locations: Port of Baltimore, Baltimore, East Coast, West Coast

☆ Baltimore port closure could cost $15 million per day in lost economic activity
▼ + stars: | 2024-03-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The Port of Baltimore is closed "until further notice" following the collapse of a major bridge. Experts say the closure alone will bring some $15 million of daily economic activity to a halt. Experts told Business Insider that the port alone contributes $15 million in daily economic activity, which will come to a near standstill "until further notice." While some cargo will have to wait, container ships can largely be rerouted to other east coast locations. And it's unclear whether East Coast ports will have enough available capacity to absorb Baltimore's container volume, Petersen said.

Persons: —, Baltimore's Francis Scott Key, Port, Anirban Basu, It's, Basu, Daraius Irani, Ryan Peterson, Petersen, we're, Martin Dresner Organizations: Service, Sage Policy, Regional Economic Studies, Towson University, University of Maryland's Smith School of Business Locations: Port, Baltimore, Port of Baltimore, East Coast, West Coast

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Two Palestinian men killed during Israeli incursion in camp near Tulkarem
▼ + stars: | 2023-09-24 | by ( Kareem Khadder | ) edition.cnn.com time to read: +2 min

Jerusalem CNN —Two Palestinian men were killed in the early hours of Sunday during an incursion by the Israel Defense Forces (IDF) in the Nur Shams refugee camp near Tulkarem in the occupied West Bank, Palestinian officials said. He said it was the third Israeli raid on the camp this year, damaging electricity and water services. Videos obtained by CNN shared by residents of the camp showed military vehicles entering the camp, where at least one was hit by an IED. Israel raided the camp earlier in September, leaving a Palestinian man killed and another two injured. A general strike has been announced in the camp and Tulkarem.

Persons: Farhan Abu Ali, Abd al, Rahman Suleiman Abu Daghash, Abu Daghash, Taha al, Irani, WAFA, “, Najeeb, Israel Organizations: Jerusalem CNN, Israel Defense Forces, West Bank, Palestinian Ministry of Health, IDF, CNN, UN Locations: Jerusalem, Nur, Tulkarem, Palestinian

☆ A handful of portfolio managers exited $20 billion hedge fund Balyasny in early August
▼ + stars: | 2023-08-17 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Four stock-picking portfolio managers left Balyasny in early August. The $20 billion fund is trailing its peers in performance this year. Multi-strategy hedge fund Balyasny Asset Management saw a handful of departures in its stock-picking business earlier this month, according to people familiar with the matter. Four portfolio managers exited the $20 billion fund in early August, the people said, including Neville Irani, Colin Kronewitter, Ben Shapiro, and Jason Temerowski. Balyasny trails its peers in performance this year, returning 1.3% through July.

Persons: Neville Irani, Colin Kronewitter, Ben Shapiro, Jason Temerowski Organizations: Management Locations: Balyasny

☆ Drones target Russian capital on eve of military parade attended by Putin
▼ + stars: | 2023-07-30 | by ( Leila Sackur | ) www.cnbc.com time to read: +4 min

Three Ukrainian drones were downed over Moscow early on July 30, 2023, Russia's defence ministry said, in an attack that briefly shut an international airport. While one of the drones was shot down on the city's outskirts, two others were "suppressed by electronic warfare" and smashed into an office complex. (Photo by Alexander NEMENOV / AFP) (Photo by ALEXANDER NEMENOV/AFP via Getty Images)Russian officials say they shot down three Ukrainian drones targeting Moscow early Sunday, hours before the start of a major military parade attended by President Vladimir Putin. "There is always something flying in Russia, including in Moscow," Ukrainian air force spokesman Yurii Ihnat said on Ukrainian national television. Since the invasion of Ukraine, Iran has become Russia's top military supporter, selling self-detonating "Shahed" drones and unmanned UAVs to Moscow.

Persons: Alexander NEMENOV, ALEXANDER NEMENOV, Vladimir Putin, Yurii Ihnat, Putin, Shahram Irani, Dmitry Medvedev, Medvedev Organizations: Moscow International Business, Moscow, Getty Images, Vnukovo International, TASS, Ukrainian, country's Security Locations: Moskva City, Moscow, city's, AFP, Russian, —, Kyiv, Ukraine, Russia, St . Petersburg, U.K, Iran

☆ Focus: Biotech firms target weight-loss drugs without Wegovy's side-effects
▼ + stars: | 2023-07-07 | by ( Maggie Fick | ) www.reuters.com time to read: +8 min

[1/7] Rebecca Vogt, a former user of the weight-loss drug Wegovy, poses for a photo, in Irving, New York, U.S., June 20, 2023. It leads to 22.5% weight loss, according to a Lilly trial published last year. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.

Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland

☆ Weight loss without Wegovy’s side-effects on biotech firms' radar
▼ + stars: | 2023-07-07 | by ( Maggie Fick | ) www.reuters.com time to read: +8 min

It leads to 22.5% weight loss, according to a Lilly trial published last year. The effect achieves far more weight loss than predecessors. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.

☆ Iran says to form naval alliance with Gulf states to ensure regional stability
▼ + stars: | 2023-06-03 | by ( ) www.reuters.com time to read: +1 min

June 3 (Reuters) - Iran's navy commander said his country and Saudi Arabia, as well as three other Gulf states, plan to form a naval alliance that will also include India and Pakistan, Iranian media reported on Saturday. Iran has recently been trying to mend its strained ties with several Gulf Arab states. In March, Saudi Arabia and Iran ended seven years of hostility under a China-mediated deal, stressing the need for regional stability and economic cooperation. Naval commander Irani said the states that will take part in the alliance also include the United Arab Emirates (UAE), Bahrain, Qatar, Iraq, Pakistan, and India. The UAE, which was the first Gulf Arab country to sign a normalization agreement with Israel in 2020, resumed formal relations with Iran last year.

Persons: Shahram Irani, Irani, Toby Chopra Organizations: Naval, United Arab Emirates, Israel, Dubai Newsroom, Thomson Locations: Saudi Arabia, India, Pakistan, Iran, China, UAE, Bahrain, Qatar, Iraq, Saudi, Arab, Israel, Morocco

☆ Iran says its navy forces U.S. submarine to surface as it enters the Gulf
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

DUBAI, April 20 (Reuters) - Iran's navy forced a U.S. submarine to surface as it entered the Gulf, Iranian navy commander Shahram Irani told state television on Thursday, in the latest report of an apparent confrontation between Iranian and U.S. forces in the Gulf. "The U.S. submarine was approaching while submerged, but the Iranian submarine Fateh detected it and carried out... manoeuvres to force it to surface as it went through the Strait (of Hormuz). It had also entered into our territorial waters but ... it corrected its course after being warned," Irani said. In early April, the Iranian navy said it identified and warned off a U.S. reconnaissance plane outside the mouth of the Gulf. In 2019, Iran shot down a U.S. drone which it said was flying over southern Iran.

☆ For the 2nd year in a row, Iran is sailing its biggest warship around the world to show off its growing navy
▼ + stars: | 2023-01-27 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Iranian warships left Iran in September on what one official said was a journey around the world. Visiting far off landsIranian navy Makran near the Strait of Hormuz in May 2021. They have repeatedly seized Iranian arms shipments bound for Yemen and have often had tense encounters with Iranian warships. Iran has also started an indigenous shipbuilding program to grow its navy, which is designed to defend the Persian Gulf. "Yet the focus of Iran will continue to be the Persian Gulf, the Gulf of Oman, and the Indian ocean.

☆ India cenbank hikes key policy rate by 35 basis points
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +7 min

However, the pace of rate hikes is reducing from 50 bps to 35 bps, in line with expected global hikes." The market needs to keep a close watch on global rate hikes and sticky core inflation." "We expect RBI to go for another 25 bps hike in its next policy, with the terminal rate at 6.5%. ANUJ PURI, CHAIRMAN, ANAROCK GROUP, MUMBAI"The 35 bps rate hike by the RBI - the fifth consecutive rate hike this year - comes as no surprise. We see a possibility of another 25 bps rate hike before a prolonged pause."

☆ Orfanii COVID: Numărul copiilor pe care virusul i-a lăsat fără ambii părinți a explodat în India
▼ + stars: | 2021-06-02 | by ( ) www.jurnal.md time to read: +6 min

Familia a decis, prin urmare, să ia legătura cu o organizație non-guvernamentală care lucrează cu copiii orfani. COVID a devastat familiile din întreaga țară, lăsând mulți copii orfani. În opinia lui Kundu, acești copii au nevoie de îngrijire maternală pe termen scurt, nu de o adopție propriu-zisă. Într-un caz, tatăl a început să își abuzeze sexual fiicele, după ce mama lor s-a îmbolnăvit de COVID. În altă familie, mama a murit, iar tatăl a intrat într-o stare de șoc atât de mare, încât nu a mai fost capabil să își hrănească copiii.

Persons: micuți, Sonia, Amit, Smirt, Modi, doctorița Preeti, Kundu, Sonal Kapoor Organizations: BBC, COVID, Amazon, Facebook Locations: India, Delhi, SUA, Uttar Pradesh

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