The US Navy killed crew members of three Houthi T boats that launched an attack on a Maersk container ship in the Red Sea, marking a significant escalation in tensions in one of the world's most vital waterways.
AP Moller-Maersk A/S said it was suspending all further transit through the Red Sea for 48 hours to investigate the attacks and further assess the security situation.
It comes amid US efforts to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even as Yemen-based Houthi rebels show no signs of stopping attacks.
This story is from the January 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Bata India bats for footwear PLI to boost output, exports
Footwear major Bata India backed the need for a production-linked incentive (PLI) scheme in the footwear sector, saying that such support from the government will strengthen manufacturing wherewithal, increase exports, and position India as a base for global supplies.
Two-wheeler sales see mixed ride in February
Enfield, TVS see growth while Bajaj, Hero struggle; exports remain bright spot
It's a quantum leap in computing
The world's biggest technology companies are building machines with vast processing power. India too is in the race, report SHINE JACOB & AASHISH ARYAN
Weak retail demand slows health insurance premium growth
Under the Weather
Luxury cars, EVs hit fast lane in the South
Amid reports that global automotive giant Tesla is scouting for land to set up its manufacturing unit in the southern states of Tamil Nadu and Andhra Pradesh, industry experts and government officials believe the region's well-developed electric vehicle (EV) ecosystem and rising demand for premium vehicles make it an attractive proposition for the US luxury carmaker.
RBI adopting more accommodative stance under Malhotra, say analysts
They point to the recent measures taken by RBI to spur economic growth and ease liquidity tightness
Employees' salaries not keeping pace with inflation: NITI member
NITI Aayog member Arvind Virmani has said that while employment is increasing in India, real wages for regular jobs have not kept pace with inflation over the past seven years.
The Cost of MP Liquor Ban
State expects an annual revenue loss of less than 2% due to its decision to prohibit liquor sales at 19 locations. SANJEEB MUKHERJEE reports
Prosus may turn to AI to shape businesses
South African-owned and Amsterdam-headquartered investment firm Prosus is looking to build an ecosystem based on artificial intelligence (AI) that can bring together businesses with synergy, enhancing their efficiency and value.
Israel Halts Entry of Aid into Gaza
Israel announced on Sunday morning that it was halting the entry of all goods and humanitarian assistance into Gaza immediately, hours after proposing a temporary extension of the now-expired ceasefire with Hamas.
