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Red Sea crisis, high freight rates ground Alang business
Credit: IndiaTimes- Published on March 20, 2024
Alang Ship Recycling Facility grapples with a severe slowdown due to the Red Sea crisis and high freight rates, leading to a sharp decline in ship arrivals. Challenges persist with decreased operational plots and reduced scrap prices impacting business.
Video credit: ODN
Published on March 20, 2024 - 00:49
Reynolds: Rates unlikely to be cut despite fall in inflation
Jonathan Reynolds says he welcomes last month’s drop in inflation but insists people are ‘still worse off after 14 years of Conservative government’. Speaking on the day the Office for National Statistics confirmed inflation fell to 3.4% in February, the shadow business secretary also suggested a cut in interest rates was unlikely, due to ongoing ‘uncertainty, particularly around the Red Sea’. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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