Today's News Roundup: March 6, 2025

National News

Economic Concerns: Indian Rupee Faces Downward Pressure

The Indian rupee is anticipated to weaken further against the U.S. dollar over the coming year, influenced by escalating global trade tensions and a slowing domestic economy. A recent Reuters poll indicates that analysts expect a slight additional downward pressure on the rupee due to the Reserve Bank of India's ongoing interest rate cuts. Having transitioned from one of Asia's strongest currencies in 2024 to one of the weakest this year, the rupee is projected to decline by 1% in the next three months and 1.4% by February 2026. Notably, the RBI's reduced intervention in foreign exchange markets since December 2024 has allowed for this depreciation.

Industrial Challenges: Import Restrictions Threaten Steel Production

ArcelorMittal Nippon Steel India has raised alarms that India's restrictions on low-ash metallurgical coke imports could significantly reduce its steel production and delay expansion plans. These curbs, intended to support the domestic coke industry, clash with the company's quality requirements. CEO Dilip Oommen has appealed for additional import quotas from Poland and Japan to sustain operations, warning of potential shutdowns or reduced production starting April 2025. The joint venture, holding a 5% market share in India, has ambitious plans to expand its annual capacity to 40 million metric tonnes by 2035. However, these import restrictions, coupled with high steel imports and declining local prices, jeopardize these objectives. Other industry leaders, including JSW Steel and Tata Steel, have also criticized the import curbs, deeming them strategically unsound and potentially harmful to the industry.

Sports News

Cricket Farewell: Steve Smith Retires from ODI Cricket

Australian cricketer Steve Smith has announced his retirement from One-Day International (ODI) cricket following Australia's loss to India in the Champions Trophy semi-final. Throughout his illustrious career, Smith played a pivotal role in securing two World Cup victories for Australia. While stepping away from ODIs, he will continue to focus on Test cricket and participate in