Rajeev Jhawar Usha Martin and His Views on Post Covid Expansion of Production.

Rajeev Jhawar has been the Managing Director of Usha Martin Limited since May 19, 2008. He is also a director of the Neutral Publishing House Limited. Rajeev Jhawar has been the Vice Chairman of Usha Martin Education and Solutions Limited since September 2010. The company has been bringing rich experience in the management of industrial enterprises for more than a decade. His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a high growth trajectory as a whole.

Rajeev Jhawar (Usha Martin) shares his observation about the industry post covid. After the corona virus the industry witnessed a pandemic and subsequent lockdowns disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand. Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019-20 and early 2020-21. Further he also makes his views on the various stimulus measure taken by the government to enhance the growth of the economy.

Managing Director of Usha Martin - Rajeev Jhawar

Rajeev Jhawar, managing director, UML, said the various measures announced by the central government to stimulate the economy are likely to bear fruit after the monsoon. While the pandemic has not yet eradicated completely, the growth is likely to occur as all the industries had learnt to live together with the pandemic.

Rajeev said while the demand for wire rope in the international market was very modest, domestic demand in various sectors was very low due to the lockdown in the wake of the Covid-19 pandemic. Rajeev Jhawar says that their plant is currently operating at 50-55% of the installed capacity. However, export demand is good and we are supported by the depreciation of the rupee, he said. The company expects capacity to increase by the second half of this financial year once the covid situation is brought under control and domestic demand picks up.

Saudi Arabia says it isn’t responsible for oil supply shortage from attacks on its facilities

RIYADH: Saudi Arabia isn’t responsible for any oil supply shortage to the international market that results from attacks on its facilities from the Iranian-backed Houthi terrorist militias, Saudi Press Agency reported, citing an official source in Kingdom’s foreign ministry.

Saudi Arabia isn’t responsible for any oil supply shortage to the international market that results from attacks on its facilities from the Iranian-backed Houthi terrorist militias, Saudi Press Agency reported, citing an official source in Kingdom’s foreign ministry. ​

“The Kingdom stresses the importance of the international community to realize the gravity of Iran’s continued behavior of equipping the terrorist Houthi militias with ballistic missiles technology, and advanced UAVs with which they target the Kingdom’s oil, gas and refined products production sites,” the statement said.

The statement comes one day after Yemen’s rebels launched a series of attacks targeting the kingdom’s oil and natural gas production. Benchmark Brent crude oil stood at over $112 a barrel in trading Monday.

The attacks are “resulting in serious consequences for upstream and downstream sectors affecting the Kingdom’s production capability and it’s ability to fulfill its commitments, and undermining without a doubt, the security and sustainability of energy supplies to global markets.”

Read More : https://www.arabnews.com/node/2047006/business-economy

Zelensky ready to discuss status of Crimea and self-declared Donbas republics with Putin

Ukrainian President Volodymyr Zelensky renewed an offer of direct peace talks with his Russian counterpart Vladimir Putin overnight to Tuesday, declaring the status of disputed territories could be up for debate and a possible referendum.

Ukraine’s President Volodymyr Zelensky in a video published on Facebook

Zelensky told local media that he was ready to meet Putin “in any format” to discuss ending the almost one-month-old war that has shattered several Ukrainian cities.

Zelensky said even the status of Russian-occupied Crimea and Russian-backed self-declared republics in Donbas was up for debate. “At the first meeting with the president of Russia, I am ready to raise these issues,” he said

“If I have this opportunity and Russia has the desire, we would go through all the questions,” he told Ukrainian journalists in an interview published by media outlet Suspilne. “Would we solve them all? No. But there is a chance, that we partially could – at least to stop the war.”